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, Inc. (NASDAQ: EBC) will release its first quarter 2023 results on April 27, 2023, after market close. A conference call is scheduled for April 28, 2023, at 9:00 AM ET. Investors can join the call via toll-free dial-in at (888) 886-7786 using conference ID 83330813. The call will also be webcast on the Company's investor relations website, with a replay available post-event. Eastern Bank, founded in 1818, serves eastern Massachusetts, New Hampshire, and Rhode Island, boasting approximately $23 billion in total assets as of December 31, 2022, and over 120 locations. The bank employs around 2,100 professionals and has committed $240 million to charitable giving since 1994.
Eastern Bank has launched the Equity Alliance for Business, aimed at supporting underrepresented business owners, particularly women and people of color. This initiative seeks to offer specialized credit solutions and access to resources designed to foster economic inclusion. Credit products include term loans up to
Eastern Bankshares reported its fourth quarter 2022 financial results, showing a net income of $42.3 million, or $0.26 per diluted share, down from $54.8 million in the previous quarter. The operating net income was $49.9 million, or $0.31 per diluted share. The company achieved a record annual net income of $199.8 million for 2022, a 29% increase year-over-year. Total assets grew by 3% to $22.6 billion, while total loans increased by 5% to $13.6 billion. A quarterly cash dividend of $0.10 per share has been declared, payable on March 15, 2023. Asset quality remained robust with minimal charge-offs.
EBC has announced a financing deal of
FAQ
What is the current stock price of Eastern Bankshares (EBC)?
What is the market cap of Eastern Bankshares (EBC)?
