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. (EBC) maintains this dedicated news hub for stakeholders tracking its financial operations and community impact. As New England's oldest mutual bank, EBC delivers timely updates on strategic developments through verified press releases and official announcements.
This comprehensive resource consolidates essential updates including quarterly earnings reports, merger announcements like the Cambridge Trust integration, and community initiatives reflecting its social responsibility commitments. Investors will find material disclosures while local residents discover updates on branch network expansions and financial literacy programs.
All content undergoes strict verification to ensure accuracy standards expected from a FDIC-insured institution. The news archive serves both immediate research needs and long-term trend analysis, with historical context spanning EBC's 1818 founding to modern digital banking innovations.
Bookmark this page for direct access to primary-source updates on commercial lending developments, wealth management offerings, and leadership changes at one of America's most enduring community-focused financial institutions.
Eastern Bankshares, Inc. (EBC) reported a robust third quarter for 2022, showing a net income of $54.8 million, equating to $0.33 per diluted share, compared to $51.2 million the previous quarter. Operating net income rose to $55.7 million, reflecting significant loan growth of 16% on an annualized basis. The net interest margin expanded by 24 basis points, leading to a 10% increase in net interest income, reaching $152.2 million. The company has declared a quarterly cash dividend of $0.10 per share, payable on December 15, 2022. Total assets stood at $22.0 billion, with total loans increasing to $12.9 billion.
Eastern Bank has announced a new partnership with Crime Prevention Security Systems, LLC (CPSS), providing
EBC announced its third quarter 2022 earnings release scheduled for October 27, 2022, after market close. A conference call will follow on October 28, 2022, at 9:00 AM Eastern Time. Interested investors can join via toll-free dial-in at (888) 396-8049 using conference ID 09796048. Participants can also access the call through a webcast on investor.easternbank.com. The company, based in Boston, has over $22 billion in total assets and more than 120 locations in Massachusetts, New Hampshire, and Rhode Island.
Eastern Bankshares, Inc. (EBC) announced a new share repurchase program with regulatory non-objection, allowing the purchase of up to 8.9 million shares, or about 5% of outstanding shares, with a budget of $200 million. This program is set to commence later this month, following the completion of the current buyback program, which successfully repurchased 9.1 million shares for $182 million. The buyback aims to create shareholder value and reflects the company’s financial strategy, subject to market conditions and other factors.
Eastern Insurance Group LLC has acquired the operating assets of John T. Burns Insurance Agency, effective August 1, 2022. This marks Eastern Insurance's 36th acquisition since 2002 and its second in 2022, strengthening its market position. Burns Insurance, a family-owned agency in Newtonville, MA since 1892, brings strong customer relationships that will enhance Eastern's service offerings. The acquisition aims to provide better choices and services to customers, leveraging Eastern Insurance's extensive resources.
FAQ
What is the current stock price of Eastern Bankshares (EBC)?
What is the market cap of Eastern Bankshares (EBC)?
