Eastern Bankshares, Inc. reported the quarter ended March 31, 2026 results: net income Net income of $ 65.3 million, or $0.29 per diluted share, EPS $0.29 per diluted share.
“2026 EARNINGS RELEASE Document Exhibit 99.1 Eastern Bankshares, Inc. Reports First Quarter 2026 Financial Results Announces 15% Increase to Quarterly Dividend • Net income of $ 65.3 million, or $0.29 per diluted share, included non-operating merger-related costs; operating net income o f $ 88.6 million, or $0.40 per diluted share. • Return on average assets of 0.86%”
M&A Transactions
Eastern Bankshares, Inc. completed an acquisition involving HarborOne Bancorp, Inc. for Merger Consideration consisting of 0.765 shares of Eastern common stock per share of HarborOne common stock (Stock Consideration) or $12.00 per share in cash (C (closed 2025-11-01).
“(“Eastern”), the holding company for Eastern Bank, completed its acquisition of HarborOne Bancorp, Inc. (“HarborOne”) and its subsidiaries, including HarborOne Bank and HarborOne Mortgage, LLC (“HarborOne Mortgage”).”
M&A Transactions
Eastern Bankshares, Inc. completed an acquisition involving HarborOne Bancorp, Inc. for 0.765 shares of Eastern common stock per share of HarborOne common stock, and cash in lieu of any fractional share; or $12.00 per share in cash (closed 2025-11-01).
“(“Eastern”), the holding company for Eastern Bank, completed its acquisition of HarborOne Bancorp, Inc. (“HarborOne”) and its subsidiaries, including HarborOne Bank and HarborOne Mortgage, LLC (“HarborOne Mortgage”).”
Joseph F. Casey was appointed as Director at Eastern Bankshares, Inc..
“Upon and subject to the completion of the Merger, Joseph F. Casey, HarborOne’s President and Chief Executive Officer, and one other current member of the HarborOne board of directors will join the respective Boards of Directors of the Company and Eastern Bank.”
Paul D. Spiess resigned as Director at Eastern Bankshares, Inc..
“Effective December 31, 2024, the Board of Directors (the “Board”) of Eastern Bankshares, Inc. (the “Company”), accepted letters of resignation from Paul M. Connolly and Paul D. Spiess, who resigned from their positions both as members of the Board and as members of the Board of Directors of the Company’s wholly owned subsidiary Eastern Bank in accordance with the mandatory age limitations for members of the Board set forth in the Company’s Corporate Governance Guidelines.”
Paul M. Connolly resigned as Director at Eastern Bankshares, Inc..
“Effective December 31, 2024, the Board of Directors (the “Board”) of Eastern Bankshares, Inc. (the “Company”), accepted letters of resignation from Paul M. Connolly and Paul D. Spiess, who resigned from their positions both as members of the Board and as members of the Board of Directors of the Company’s wholly owned subsidiary Eastern Bank in accordance with the mandatory age limitations for members of the Board set forth in the Company’s Corporate Governance Guidelines.”
R. David Rosato was appointed as Chief Financial Officer at Eastern Bankshares, Inc..
“On July 15, 2024, the Company announced the appointment of R. David Rosato as its Chief Financial Officer. Mr. Rosato is expected to commence his role with the Company effective August 1, 2024.”
James B. Fitzgerald changed role as Chief Financial Officer at Eastern Bankshares, Inc..
“James B. Fitzgerald, the principal financial officer of the Company, notified the Company’s Chief Executive Officer and the Audit Committee of its Board of Directors on April 24, 2024, that he planned to transition from his roles as Chief Financial Officer, Chief Administrative Officer and Treasurer of the Company effective upon the appointment and commencement of employment of his successor.”
Andargachew S. Zelleke was appointed as Director at Eastern Bankshares, Inc..
“appointed each of Leon A. Palandjian, Cathleen A. Schmidt, Denis K. Sheahan, and Andargachew S. Zelleke as directors”
Denis K. Sheahan was appointed as Chief Executive Officer at Eastern Bankshares, Inc..
“Mr. Sheahan, the current Chairman, President, and Chief Executive Officer of Cambridge, additionally will serve as Chief Executive Officer of the Company effective upon and subject to the closing of the Merger.”
Cathleen A. Schmidt was appointed as Director at Eastern Bankshares, Inc..
“appointed each of Leon A. Palandjian, Cathleen A. Schmidt, Denis K. Sheahan, and Andargachew S. Zelleke as directors”
Leon A. Palandjian was appointed as Director at Eastern Bankshares, Inc..
“appointed each of Leon A. Palandjian, Cathleen A. Schmidt, Denis K. Sheahan, and Andargachew S. Zelleke as directors”
Shareholder Votes
Eastern Bankshares, Inc. shareholders approved Ratification of the Appointment of Ernst & Young LLP at the 2024-05-13 meeting.
“3. Ratification of the Appointment of Ernst & Young LLP . By the vote reported below, the shareholders ratified the appointment of Ernst & Young LLP by the Audit Committee of the Company’s Board of Directors as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024. There were no broker non-votes on this matter. Votes For Votes Against Abstentions 149,047,506 2,973,052 648,805”
Shareholder Votes
Eastern Bankshares, Inc. shareholders approved Advisory Vote on Named Executive Officer Compensation at the 2024-05-13 meeting.
“2. Advisory Vote on Named Executive Officer Compensation . By the vote reported below, the shareholders approved, on an advisory basis, the compensation paid to the named executive officers of the Company, as set forth in the Company’s Proxy Statement: Votes For Votes Against Abstentions Broker Non-Votes 115,076,749 19,563,938 1,229,020 16,799,656”
Shareholder Votes
Eastern Bankshares, Inc. shareholders approved Election of Directors at the 2024-05-13 meeting.
“1. Election of Directors . By the vote reported below, the shareholders elected the following five nominees to serve as directors of the Company for a term to end at the Company’s 2027 annual meeting of shareholders: Nominee Votes For Votes Against Abstentions Broker Non-Votes Richard C. Bane 129,868,978 5,448,980 551,749 16,799,656 Joseph T. Chung 132,044,661 3,238,657 586,389 16,799,656 Paul M. Connolly 131,710,396 3,437,844 721,467 16,799,656 Bari A. Harlam 131,697,706 3,463,882 708,119 16,799,656 Marisa J. Harney 132,755,741 2,418,556 695,410 16,799,656”
Earnings Releases
Eastern Bankshares, Inc. reported first quarter of 2024 results: net income $38.6 million, EPS $0.24 per diluted share.
“Net income of $38.6 million, or $0.24 per diluted share.”
James B. Fitzgerald departed as Chief Financial Officer, Chief Administrative Officer, Treasurer at Eastern Bankshares, Inc..
“James B. Fitzgerald, the Company’s principal financial officer, notified the Company’s Chief Executive Officer and the Audit Committee of its Board of Directors on April 24, 2024 that he would be retiring from his roles as Chief Financial Officer, Chief Administrative Officer and Treasurer of the Company and as Chief Financial Officer, Chief Administrative Officer and Vice Chair of Eastern Bank once his successor is identified and appointed Chief Financial Officer and begins employment with Eastern.”
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