Eastern Bankshares, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 27, 2023 at 01:45 am IST
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Eastern Bankshares, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 137.21 million compared to USD 152.18 million a year ago. Net income was USD 59.11 million compared to USD 54.78 million a year ago. Basic earnings per share from continuing operations was USD 0.39 compared to USD 0.32 a year ago. Diluted earnings per share from continuing operations was USD 0.39 compared to USD 0.32 a year ago. Basic earnings per share was USD 0.36 compared to USD 0.33 a year ago. Diluted earnings per share was USD 0.36 compared to USD 0.33 a year ago.
For the nine months, net interest income was USD 417.1 million compared to USD 418.06 million a year ago. Net loss was USD 86.33 million compared to net income of USD 157.47 million a year ago. Basic loss per share from continuing operations was USD 0.58 compared to basic earnings per share from continuing operations of USD 0.87 a year ago. Diluted loss per share from continuing operations was USD 0.58 compared to diluted earnings per share from continuing operations of USD 0.87 a year ago. Basic loss per share was USD 0.53 compared to basic earnings per share of USD 0.94 a year ago. Diluted loss per share was USD 0.53 compared to diluted earnings per share of USD 0.94 a year ago.
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.
EASTERN BANKSHARES, INC. 
