Eastern Bankshares (EBC) investor relations material

Executive summary

• Achieved a 62% increase in full-year operating earnings for 2025, with strong organic loan growth and record wealth assets under management at $10.1 billion.

• Completed the HarborOne merger, adding $4.5 billion in loans and $4.3 billion in deposits, significantly expanding the balance sheet and presence in key markets.

• Operating net income for Q4 2025 was $94.7 million, up 28% sequentially, with a return on average tangible common equity of 13.8%.

• Focused on organic growth and capital return, with no plans for further acquisitions.

• Robust capital return to shareholders through share repurchases and dividends.

Financial highlights

• Q4 2025 net income was $99.5 million ($0.46 per diluted share), including a GAAP tax benefit and merger-related costs; operating net income was $94.7 million ($0.44 per diluted share).

• Net interest income reached $237.4 million, up $37.2 million from Q3, with net interest margin (FTE) up 14 bps to 3.61%.

• Noninterest income was $46.1 million, up $4.8 million from Q3, driven by mortgage banking and investment advisory fees.

• Noninterest expense was $189.4 million, up $49 million linked quarter due to merger costs and higher operating expenses.

• Book value per share ended at $18.42; tangible book value per share at $12.90.

Outlook and guidance

• 2026 loan growth expected at 3%-5%, deposit growth at 1%-2%.

• Net interest income projected at $1.2-$1.5 billion, with FTE margin of 365-375 bps.

• Operating noninterest income forecasted at $190-$200 million; operating noninterest expense at $655-$675 million.

• CET1 ratio to be managed toward 12% over time, with continued share repurchases and dividend growth.

• Focus remains on merger integration, cost savings, and enhanced earnings power for 2026 and beyond.