Eastern Bankshares Inc (OQ:EBC)

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
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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

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