Eastern Bankshares Q4 net income $60.8M ($0.30/diluted); announces $1.2B portfolio repositioning

Eastern Bankshares, Inc.

2024-FY EPS reported $0.66 revenue$112,619,000

Net income $60.8M vs. prior-quarter loss of $6.2M; operating EPS $0.34, up from $0.25.
Net interest margin expanded 8 bps to 3.05%; net interest income $179.2M, up 5%.
$1.2B investment portfolio repositioning in Q1 2025 expected to add ~$0.13 to 2025 operating EPS; after-tax loss ~$200M.
Dividend $0.12/share declared; 908,425 shares repurchased in Q4 at avg $17.41.
Net charge-offs 0.71% of avg loans, primarily from Cambridge PCD loans; NPLs 0.76% of total loans.

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