NASDAQ:EBC

Eastern Bankshares, Inc. Reports First Quarter 2024 Financial Results

Retrieved on: 
Thursday, April 25, 2024
Banking, Professional Services, Finance, Sale, CFO, Treasurer, Total, River, Investment, FTE, Federal Deposit Insurance Corporation, Korn Ferry, Federal Home Loan Banks, Marketing, Testament, Insurance, Trust, Webcast, Retirement, IPO, NPL, EBC, Workforce, Advertising, FDIC, ID, Telephone, Growth, Bank

Eastern Bankshares, Inc. (the “Company,” or together with its subsidiaries, “Eastern”) (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2024 first quarter financial results and the declaration of a quarterly cash dividend.

Key Points: 
  • Eastern Bankshares, Inc. (the “Company,” or together with its subsidiaries, “Eastern”) (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2024 first quarter financial results and the declaration of a quarterly cash dividend.
  • Noninterest income was $27.7 million for the first quarter of 2024, compared to $26.7 million for the prior quarter, representing an increase of $1.0 million.
  • Noninterest expense was $101.2 million for the first quarter of 2024, compared to $121.0 million in the prior quarter, representing a decrease of $19.8 million.
  • A conference call and webcast covering Eastern’s first quarter 2024 earnings will be held on Friday, April 26, 2024 at 9:00 a.m. Eastern Time.

Eastern Bankshares, Inc. Announces First Quarter 2024 Earnings Release Date, Conference Call and Webcast

Retrieved on: 
Thursday, April 4, 2024
Banking, Other Professional Services, Professional Services, Finance, EBC, Webcast

Eastern Bankshares, Inc. (the “Company”) (Nasdaq Global Select Market: EBC), a Massachusetts corporation and the stock holding company for Eastern Bank, today announced the following details regarding the report of the Company’s first quarter 2024 results:

Key Points: 
  • Eastern Bankshares, Inc. (the “Company”) (Nasdaq Global Select Market: EBC), a Massachusetts corporation and the stock holding company for Eastern Bank, today announced the following details regarding the report of the Company’s first quarter 2024 results:
    The conference call will be simultaneously webcast.
  • Participants may join the webcast on the Company’s Investor Relations website at investor.easternbank.com .
  • A replay of the webcast will be made available on demand on this site.

Eastern Bank Announces DPV Transportation (DPV) As A Commercial Banking Customer

Retrieved on: 
Wednesday, March 6, 2024
Professional Services, Small Business, Logistics, Supply Chain Management, Transport, Finance, Banking, Other Transport, Acquisition, Senior, Boston, Commonwealth, Bank, Growth, Commercial bank, Greater Boston, System, Safety, Business, DPV, Massachusetts Development Finance Agency

Eastern Bank is pleased to announce global ground transportation company DPV Transportation, Inc. (DPV) as a new commercial banking customer.

Key Points: 
  • Eastern Bank is pleased to announce global ground transportation company DPV Transportation, Inc. (DPV) as a new commercial banking customer.
  • After working with Eastern Bank as a small business banking customer during its start-up, DPV is now transitioning to the bank’s commercial banking portfolio.
  • By working with community-focused banks like Eastern Bank, we are able to create financing packages that meet the needs of our clients.”
    Greg Buscone, Executive Vice President, Chief Commercial Banking Officer of Eastern Bank, added, “MassDevelopment leads important work involving the expansion of businesses in our community, and we appreciate their additional financing as we proudly announce DPV Transportation as a commercial banking customer.
  • The Commercial Banking team advising DPV Transportation includes Executive Vice President, Chief Commercial Banking Officer Greg Buscone; Senior Vice President and Commercial Group Director Dan Field; Senior Vice President and Commercial Relationship Manager David Nussbaum; and Commercial Portfolio Manager Tom Barcikowski.

Eastern Bankshares, Inc. Reports Fourth Quarter 2023 Financial Results

Retrieved on: 
Thursday, January 25, 2024
Banking, Professional Services, Finance, FDIC, Total, Federal Deposit Insurance Corporation, Trust, Insurance, FTE, Non-commissioned officer, Sale, Investment, Federal Home Loan Banks, Webcast, Telephone, ID, EBC, Growth, Video game

Eastern Bankshares, Inc. (the “Company,” or together with its subsidiaries, “Eastern”) (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2023 fourth quarter financial results and the declaration of a quarterly cash dividend.

Key Points: 
  • Eastern Bankshares, Inc. (the “Company,” or together with its subsidiaries, “Eastern”) (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2023 fourth quarter financial results and the declaration of a quarterly cash dividend.
  • "2023 was a year of strategic repositioning for Eastern,” said Bob Rivers, Chief Executive Officer and Chair of the Board of Eastern Bankshares, Inc. and Eastern Bank.
  • Net interest income was $133.3 million for the fourth quarter of 2023, compared to $137.2 million in the prior quarter, representing a decrease of $3.9 million.
  • A conference call and webcast covering Eastern’s fourth quarter 2023 earnings will be held on Friday, January 26, 2024 at 9:00 a.m. Eastern Time.

Eastern Bankshares, Inc. Announces Fourth Quarter 2023 Earnings Release Date, Conference Call and Webcast

Retrieved on: 
Thursday, January 4, 2024
Banking, Professional Services, Finance, Webcast, EBC

Eastern Bankshares, Inc. (the “Company”) (Nasdaq Global Select Market: EBC), a Massachusetts corporation and the stock holding company for Eastern Bank, today announced the following details regarding the report of the Company’s fourth quarter 2023 results:

Key Points: 
  • Eastern Bankshares, Inc. (the “Company”) (Nasdaq Global Select Market: EBC), a Massachusetts corporation and the stock holding company for Eastern Bank, today announced the following details regarding the report of the Company’s fourth quarter 2023 results:
    The conference call will be simultaneously webcast.
  • Participants may join the webcast on the Company’s Investor Relations website at investor.easternbank.com .
  • A replay of the webcast will be made available on demand on this site.

Eastern Bank Named #1 SBA Lender in Massachusetts for the 15th Year in a Row

Retrieved on: 
Tuesday, December 12, 2023
Small Business, Banking, Professional Services, Finance, SBA, Small business, Small Business Administration, Bank, Real estate, Eastern Bank

Eastern Bank has been named by the U.S. Small Business Administration (SBA) as the top lender to small businesses for SBA 7(a) loans in Massachusetts for the 15th consecutive year.

Key Points: 
  • Eastern Bank has been named by the U.S. Small Business Administration (SBA) as the top lender to small businesses for SBA 7(a) loans in Massachusetts for the 15th consecutive year.
  • “Eastern is honored to be recognized once again by the Small Business Administration as a top lender to the small business community,” said Quincy Miller, Vice Chair and President of Eastern Bank.
  • 1 SBA 7(a) lender in Massachusetts for the 15th year in a row.
  • SBA loans are intended to help businesses that may not qualify for conventional loans get the funds they need to start, grow and expand.

Eastern Bank Earns Top Score for 10th Consecutive Year in Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index

Retrieved on: 
Tuesday, December 5, 2023
Professional Services, LGBTQ+, Other Consumer, Other Professional Services, Consumer, Finance, Banking, The American Lawyer, Bank, Corporate Equality Index, Equality, Human Rights Campaign, Equitable, Pride, CEI, Business, Workplace, Property management, Management, Eastern Bank

Eastern Bank is pleased to announce that for the tenth consecutive year, it received a score of 100 on the Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index (CEI), the nation’s foremost benchmarking survey and report measuring corporate policies and practices related to LGBTQ+ workplace equality.

Key Points: 
  • Eastern Bank is pleased to announce that for the tenth consecutive year, it received a score of 100 on the Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index (CEI), the nation’s foremost benchmarking survey and report measuring corporate policies and practices related to LGBTQ+ workplace equality.
  • Eastern joins 545 U.S. businesses that also earned top marks this year.
  • “Eastern has a long-standing commitment to supporting the LGBTQ+ community, through our workplace, advocacy, resources for business owners, philanthropy and employee volunteerism,” said Bob Rivers, CEO and Chair of the Board of Eastern Bankshares, Inc. and Eastern Bank.
  • The results of the 2023-2024 CEI showcase how U.S.-based companies are promoting LGBTQ+ friendly workplace policies.

Eastern Bank Welcomes Avedis Zildjian Co. As A Commercial Banking Customer

Retrieved on: 
Wednesday, November 15, 2023
Banking, Professional Services, Finance, Growth, Avedis Zildjian Company, Commercial bank, Acquisition, Senior, Bank, Music, Eastern Bank

Eastern Bank is pleased to announce Avedis Zildjian Co. (Zildjian), the oldest family-owned business in the United States and the world’s largest maker of cymbals, drumsticks and percussion mallets, as a new commercial customer.

Key Points: 
  • Eastern Bank is pleased to announce Avedis Zildjian Co. (Zildjian), the oldest family-owned business in the United States and the world’s largest maker of cymbals, drumsticks and percussion mallets, as a new commercial customer.
  • Founded in 1623 and headquartered in Norwell, MA, Zildjian’s products are sold globally, inspiring people to express themselves through music.
  • Eastern Bank’s credit solution includes traditional working capital and real estate financing and growth capital to support the company’s next stage of growth.
  • The Commercial Banking team advising Avedis Zildjian Co. includes Executive Vice President, Chief Commercial Banking Officer Greg Buscone, Senior Vice President, Commercial Group Director Brendan O’Neill, and Senior Vice President, Commercial Relationship Manager Matthew Hunt.

Eastern Bankshares, Inc. Announces Closing Of Eastern Insurance Group LLC Asset Sale

Retrieved on: 
Tuesday, October 31, 2023
Banking, Professional Services, Insurance, Sale, NYSE, Life, EBC, Corus Bankshares, Arthur J. Gallagher & Co., Eastern Bank

Eastern Bankshares, Inc. (the “Company”) (Nasdaq Global Select Market: EBC), the stock holding company for Eastern Bank, announced today it has completed the previously disclosed sale of Eastern Bank’s insurance operations, which conduct business under the name Eastern Insurance Group LLC (“Eastern Insurance”), to Arthur J. Gallagher & Co. (NYSE: AJG) (“Gallagher”).

Key Points: 
  • Eastern Bankshares, Inc. (the “Company”) (Nasdaq Global Select Market: EBC), the stock holding company for Eastern Bank, announced today it has completed the previously disclosed sale of Eastern Bank’s insurance operations, which conduct business under the name Eastern Insurance Group LLC (“Eastern Insurance”), to Arthur J. Gallagher & Co. (NYSE: AJG) (“Gallagher”).
  • “This transaction enables a stronger focus on the strategic growth of our core banking business,” said Bob Rivers, Chief Executive Officer and Chair of the Board of Eastern Bankshares, Inc. and Eastern Bank.
  • “We are grateful for the leadership of Eastern Insurance’s CEO Tim Lodge and the entire team at Eastern Insurance for their years of contributions, camaraderie and outstanding service to our customers, colleagues and communities we serve.
  • Licensed to do business in every state, Eastern Insurance serves more than 75,000 individuals and businesses and represents more than 50 national and regional insurance carriers.

Eastern Bankshares, Inc. Appoints Marisa J. Harney And Linda M. Williams To Its Board Of Directors

Retrieved on: 
Monday, October 30, 2023
Banking, Asset Management, Professional Services, Finance, Linda, Johns Hopkins University, Goodwill Industries, BS, EBC, MBA, Credit Suisse, Credit Suisse First Boston, First Citizens Bank (Trinidad and Tobago), CIT Group, SmileDirectClub, Risk management, Corus Bankshares, New York University Stern School of Business, Business, JPMorgan Chase, New York University, Blue Cross Blue Shield Association, Audit, Fordham, Management, Eastern Bank

Eastern Bankshares, Inc. (the “Company”) (Nasdaq Global Select Market: EBC), the stock holding company for Eastern Bank, announced today the appointment of Marisa J. Harney and Linda M. Williams to its Board of Directors effective immediately.

Key Points: 
  • Eastern Bankshares, Inc. (the “Company”) (Nasdaq Global Select Market: EBC), the stock holding company for Eastern Bank, announced today the appointment of Marisa J. Harney and Linda M. Williams to its Board of Directors effective immediately.
  • They have also each been appointed to the Audit and Risk Management Committees of the Board effective January 1, 2024.
  • They will also serve on the Board of Directors of the Company’s banking subsidiary, Eastern Bank.
  • “We are extremely pleased to welcome Marisa Harney and Linda Williams to our Board,” said Bob Rivers, Chief Executive Officer and Chair of the Board of Eastern Bankshares, Inc. and Eastern Bank.