Sector: Financials | Industry: Banks |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 265 Franklin Street BOSTON MA 02110 |
Tel: | 1-781-5987920 |
Website: | https://www.easternbank.com |
IR: | See website |
Key People | ||
Robert F. Rivers Chairman of the Board, Chief Executive Officer | Barbara Jane Heinemann Executive Vice President - Consumer Banking of Eastern Bank | Quincy Lee Miller President; Vice Chair and President of Eastern Bank |
James B. Fitzgerald Chief Administrative Officer, Chief Financial Officer and Treasurer; Vice Chair, Chief Administrative Officer, and Chief Financial Officer of Eastern Bank | Timothy Joseph Lodge President and Chief Executive Officer of Eastern Insurance Group LLC | Nancy Huntington Stager President and Chief Executive Officer of the Eastern Bank Foundation; Executive Vice President of Eastern Bank |
Kathleen Cloherty Henry Executive Vice President, General Counsel, Corporate Secretary; Executive Vice President, General Counsel, Corporate Secretary and Chief Human Resources Officer of Eastern Bank | Steven Louis Antonakes Executive Vice President - Enterprise Risk Management of Eastern Bank | Gregory Paul Buscone Executive Vice President, Senior Commercial Banking Officer of Eastern Bank | Martha A. Dean Executive Vice President, Senior Operations Director of Eastern Bank |
Business Overview |
Eastern Bankshares, Inc. is the stock holding company for Eastern Bank (The Bank). Through the Bank, it provides a variety of banking and trust and investment services. Its diversified products and services include lending, deposit, and wealth management. It offers a range of demand deposit accounts, interest checking accounts, money market accounts, savings accounts, and time certificates of deposit accounts. Its banking business consists of a full range of banking, lending (commercial, residential and consumer), savings and small business offerings, including its wealth management and trust operations that it conducts through its Eastern Wealth Management division. It offers automated lock box collection services, cash management services and account reconciliation services to its corporate and institutional customers, as well as cash management services to its municipal clients. Its securities portfolio consists of government-sponsored residential mortgage-backed securities. |
Financial Overview |
For the fiscal year ended 31 December 2023, Eastern Bankshares Inc interest income increased 32% to $796.5M. Net interest income after loan loss provision decreased 4% to $530.4M. Net loss before extraordinary items totaled $62.7M vs. income of $186.5M. Net interest income after loan loss provision reflects Banking Business segment decrease from $550.1M to $0K. |
Employees: | 1,562 as of Dec 31, 2023 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $2,249M as of Dec 31, 2023 |
Annual revenue (TTM): | $796.46M as of Dec 31, 2023 |
EBITDA (TTM): | -$88.24M as of Dec 31, 2023 |
Net annual income (TTM): | -$62.69M as of Dec 31, 2023 |
Free cash flow (TTM): | $186.88M as of Dec 31, 2023 |
Net Debt Last Fiscal Year: | N/A |
Shares outstanding: | 176,426,993 as of Feb 22, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |