Eastern Bankshares (EBC) investor relations material

Executive summary

• Q3 net income and operating net income were $111.0 million, with diluted EPS of $0.51; operating net income increased 49.9% YoY.

• Nine-month GAAP net income was $281.5 million versus a loss of $11.3 million; nine-month operating net income rose 37.1% YoY to $306.2 million.

Financial highlights

• Total revenue was $306.6 million; net interest income rose to $257.9 million, up 28.8% YoY.

• Operating noninterest income was $48.7 million, down $9.2 million QoQ, mainly due to lower retirement-benefit investment income and nonrecurring Q2 commercial-loan sale gains.

• Operating noninterest expense declined $6.7 million QoQ to $159.7 million; Q3 had no non-operating costs versus $1.6 million in Q2.

• Provision for loan losses was $6.8 million; pre-tax, pre-provision income was $146.9 million.

Outlook and guidance

• FY2026 guidance remained unchanged; YTD NIM of 3.64% was within the 3.60%–3.65% range.

• NIM was expected to remain relatively stable in Q4 and improve modestly next year as asset repricing outpaces deposit-cost increases.

• Q4 expenses were expected to rise from Q3, with a normalized quarterly base of $163–$164 million; the effective tax rate was expected to return to ~22%.

• Strong commercial pipelines supported optimism, though higher rates slowed client decisions and closings; 2027 guidance was expected in January.