Welcome to our dedicated page for Eastern Bankshares news (Ticker: EBC), a resource for investors and traders seeking the latest updates and insights on Eastern Bankshares stock.
Eastern Bankshares, Inc. (NASDAQ: EBC) is the holding company for Eastern Bank, which it describes as Greater Boston’s leading local bank. News about EBC often centers on its regional banking activities, commercial lending relationships, wealth management initiatives and corporate developments. Eastern Bank operates approximately 109 to 110 branches across eastern Massachusetts, southern and coastal New Hampshire, Rhode Island and Connecticut, and provides banking and wealth management solutions for consumers and businesses of all sizes.
The EBC news feed highlights announcements of new commercial banking customers and financing arrangements, such as working capital facilities, revolving lines of credit and cash management services for companies in sectors ranging from security solutions to marketing logistics. Releases also cover Eastern’s recognition as a top SBA 7(a) lender in Massachusetts, reflecting its role in small business lending and programs like its Equity Alliance for Business, which is designed to support women and entrepreneurs of color.
Investors and analysts following Eastern Bankshares, Inc. will find regular updates on quarterly earnings release dates, conference calls and webcasts, as well as detailed financial results and commentary from management on loan growth, profitability metrics, net interest margin and asset quality. Corporate actions, including share repurchase authorizations, dividend declarations and governance matters, are also disclosed through company news and related SEC filings.
Another key theme in EBC news is merger and acquisition activity. Eastern has reported on its agreement to acquire HarborOne Bancorp, Inc., the receipt of required regulatory approvals and the completion of the merger, including the proration of stock and cash consideration for HarborOne shareholders and the integration of HarborOne Bank into Eastern Bank. For ongoing coverage of these developments and other company updates, the EBC news page aggregates press releases and third-party reports in one place.
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Eastern Bank has secured a $14 million loan to support the Arts & Business Council of Greater Boston in acquiring the Western Avenue Studios & Lofts in Lowell, MA.
This project, part of the Creative Campus Initiative, aims to enhance affordable housing for artists amidst growing gentrification. The facility will feature 250 artist studios and communal spaces, ensuring sustainability for local creative communities.
Additionally, BlueHub Capital contributed $3 million towards this financing.
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Eastern Bank has announced a new asset-based lending relationship with Asian Atlantic Industries, LLC (AAI), providing
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Eastern Bank has elected five community leaders to its Board of Advisors and Board of Ambassadors. This includes Carolina Alarco, Founder of Bio Strategy Advisors LLC, and Michael A. Curry, CEO of Massachusetts League of Community Health Centers, as Advisors. Ambassadors include Yolanda Coentro, Elizabeth Turnbull Henry, and Grace Moreno, leaders in nonprofit, sustainability, and LGBTQ+ sectors. CEO Bob Rivers emphasizes their insights will enhance community support and customer value. Eastern Bank has over
Eastern Bankshares, Inc. (EBC) reported strong first-quarter 2022 results with net income of $51.5 million, or $0.30 per diluted share, up from $35.1 million in the previous quarter. Operating net income rose 23% year-over-year to $55.1 million. Loan growth, excluding PPP loans, was 3.1%. However, total assets decreased by 3% to $22.8 billion, and shareholders’ equity dropped by $398 million, primarily due to market value declines in investments. The company declared a quarterly cash dividend of $0.10 per share, payable June 15, 2022.
Eastern Bank announces a new commercial banking relationship with Charles D. Sheehy, Inc., providing financing for a working line of credit, term loan, and commercial real estate mortgage. Founded in 1951, Sheehy is a longstanding supplier in the New England contracting industry. This partnership supports Sheehy's financial and growth needs, ensuring the company can maintain a high level of service to its clients. Eastern Bank, established in 1818, has over $24 billion in assets and offers a range of commercial financing solutions to various industries.
Eastern Bankshares, Inc. (EBC) will report its first quarter 2022 earnings on April 28, 2022, after market close. A conference call is scheduled for April 29, 2022, at 9:00 AM ET, which will also be webcasted. Eastern Bank operates over 120 locations and holds approximately $24 billion in total assets. The bank offers diverse financial services to consumers and businesses. For investor information, visit investor.easternbank.com.
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