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.
Eastern Bankshares (NASDAQ:EBC), the holding company for Eastern Bank, has scheduled its second quarter 2025 earnings release for Thursday, July 24, 2025 after market close. The company will host a conference call to discuss the results on Friday, July 25, 2025 at 9:00 AM ET.
Investors can join via telephone using the toll-free number (800) 549-8228 with Conference ID 88195, or access the simultaneous webcast through Eastern's Investor Relations website at investor.easternbank.com. A replay of the webcast will be available on-demand on the same website.
Eastern Bank (EBC) has appointed David Ciolfi as Senior Vice President, Team Lead for Business Development at Cambridge Trust Private Banking, a Division of Eastern Bank. Ciolfi brings over 20 years of experience in financial and investment advisory services. Most recently, he served as Senior Advisor at Citizens Private Wealth, where he led private wealth efforts across Greater Boston, Connecticut, New York, and Rhode Island. He previously held positions at Wells Fargo Private Bank and various senior roles at Citizens Private Wealth.
Ciolfi holds a BA from the College of the Holy Cross, an MBA from Babson College, and is a Certified Wealth Strategist with FINRA Series 7 and 66 licenses. In his new role, he will focus on delivering personalized banking experiences and comprehensive solutions for individual and business clients.
Eastern Bankshares (EBC) and HarborOne Bancorp (HONE) have announced a definitive merger agreement valued at approximately $490 million. Under the terms, HarborOne shareholders will receive either 0.765 shares of Eastern common stock or $12.00 in cash per share, with stock consideration representing 75-85% of the total transaction.
The merger will strengthen Eastern's position in Greater Boston and expand into Rhode Island. The combined entity will have approximately $30.7 billion in assets, with Eastern contributing $25.0 billion and HarborOne adding $5.7 billion. The transaction is expected to provide 16% EPS accretion and a tangible book value earnback of 2.8 years.
The merger is anticipated to close in the fourth quarter of 2025, subject to regulatory approvals and HarborOne shareholder approval. Upon closing, HarborOne's CEO Joseph Casey and one other director will join Eastern's Board of Directors.
Eastern Bankshares (NASDAQ: EBC) reported Q1 2025 financial results, highlighting a net loss of $217.7 million ($1.08 per share) due to a $1.3 billion investment portfolio repositioning. However, operating net income reached $67.5 million ($0.34 per share).
Key highlights include:
- Net interest margin expanded 33 basis points to 3.38%
- Non-performing loans improved to $91.6 million (0.51% of total loans) from $135.8 million (0.76%) at year-end 2024
- Strong CET1 ratio of 14.15% and loan coverage ratio of 1.25%
- Repurchased 2.9 million shares for $48.7 million
- Announced 8% increase in quarterly dividend to $0.13 per share
The bank's loan portfolio grew nearly 3% annualized, primarily from C&I balances, while deposits decreased by $522.2 million to $20.8 billion. Assets under management ended at $8.4 billion.
Eastern Bankshares (Nasdaq: EBC) has scheduled its first quarter 2025 earnings release and associated events. The company will release its Q1 2025 financial results on Thursday, April 24, 2025 after market close. A conference call to discuss the results is scheduled for Friday, April 25, 2025 at 9:00 AM Eastern Time.
Interested parties can join via telephone using the toll-free number (800) 549-8228 with Conference ID 70523. Additionally, a simultaneous webcast will be available on the company's Investor Relations website at investor.easternbank.com, with an on-demand replay option provided afterward.
Eastern Bank has appointed Theresa Conroy as Senior Vice President, Commercial Banking Relationship Manager, bringing 20 years of commercial and industrial lending experience to the institution. Prior to joining Eastern Bank, Conroy served as Senior Relationship Manager in the Middle Market Division at Needham Bank and held positions at TD Bank and Santander Bank.
Conroy's expertise includes structuring commercial loans, building client relationships, and providing tailored financing solutions. Her previous roles encompassed portfolio management, credit analysis, and business development. She holds a Bachelor of Science from Babson College and an MBA from Boston College's Carroll School of Management.
Eastern Bank offers various commercial financing solutions including working capital lines of credit, equipment loans, real estate loans, acquisition financing, asset-based lending, franchise lending, and ESOP-related financing.
Eastern Bank announces a significant expansion of its Franchise Lending division with two key appointments. David Farwell joins as Senior Vice President and Head of Specialty Finance, bringing over 20 years of specialty finance experience, previously serving as EVP at Citizens Bank where he led multiple industry-focused finance groups including McDonald's Franchise Finance.
Randi Baskin Blume joins as Senior Vice President of Franchise Finance, contributing 25 years of commercial lending experience, including over 10 years in franchise finance. At BMO Bank, she grew the McDonald's clientele from three to 50 operators in three years.
The expansion strengthens Eastern Bank's Franchise Finance division, which specializes in Quick Service Restaurant (QSR) business and offers various commercial financing solutions including working capital, equipment loans, real estate loans, and acquisition financing.