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Eastern Bankshares (EBC) investor relations material

Eastern Bankshares Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary24 Oct, 2025

Executive summary

  • Celebrated five years as a public company, growing assets by 95% and deposits by 241% since the IPO, and now holding the #1 deposit market share among independent Boston-based banks and the largest independent bank in Massachusetts.

  • Net income for Q3 2025 was $106.1 million ($0.53 per diluted share), including a GAAP tax benefit; operating net income was $74.1 million ($0.37 per diluted share), up 44% year-over-year.

  • Wealth management assets under management reached a record $9.2 billion, making it the #1 bank-owned investment advisor in Massachusetts by AUM.

  • Received all regulatory approvals for the HarborOne merger, expected to close November 1, 2025, expanding presence into Rhode Island and enhancing organic growth opportunities.

  • Announced a 5% share repurchase program (up to 11.9 million shares) expiring October 31, 2026, and declared a $0.13 per share dividend.

Financial highlights

  • Q3 2025 net income was $106.1 million ($0.53 per diluted share), with operating net income of $74.1 million ($0.37 per diluted share), up 44% year-over-year but down sequentially due to lower net discount accretion and fee income.

  • Net interest income was $200.2 million, with a net interest margin of 3.47%, down 12 bps sequentially.

  • Efficiency ratio improved to 52.8% from 59.7% year-over-year; operating efficiency ratio was 52.8%, and reported efficiency ratio was 58.2%.

  • Tangible book value per share increased 5% from June 30 and 10% year-to-date, reaching $13.14.

  • Return on average assets was 1.66% (1.16% operating); return on average tangible common equity was 16.4% (11.7% operating).

Outlook and guidance

  • Margin expected to remain roughly flat in Q4, with deposit costs staying elevated due to competition; original margin expansion guidance for the combined institution remains valid.

  • Management expects meaningful earnings accretion from the HarborOne merger and continued focus on organic growth and profitability; no near-term plans for additional M&A.

  • Medium-term CET1 capital target set at approximately 12%.

  • Expenses projected to be flat or slightly down in Q4.

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Frequently asked questions

Eastern Bankshares Inc. is a bank holding company that operates through its subsidiary, Eastern Bank, providing banking and financial services to individuals, businesses, and nonprofit organizations. The company offers a range of products, including checking and savings accounts, commercial and consumer loans, mortgage lending, wealth management, and insurance services. Eastern Bank serves customers primarily in the Northeastern United States through a network of branches and digital banking platforms. The company is headquartered in Boston, Massachusetts, and its shares are listed on the NASDAQ.

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