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Eastern Bankshares, Inc. operates as the bank holding company for Eastern Bank that provides banking, trust, and investment services to retail, commercial, and small business customers in the United States. The company offers deposit accounts, interest checking accounts, money market accounts, savings accounts, and time certificates of deposit accounts. It also provides commercial and industrial products, such as asset based lending portfolio; commercial real estate and construction; small business, residential real estate, and home equity loans; lines of credit; and other consumer loans comprising unsecured personal lines of credit, overdraft protection, automobile loans, home improvement loans, airplane loans, and other personal loans. In addition, the company offers wealth management and trust services, financial planning, and portfolio management; and automated lock box collection, cash management, and account reconciliation services. Eastern Bankshares, Inc. was founded in 1818 and is headquartered in Boston, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $722M | - | $88M | $413M | 2.0% | -0.4% | -26.2% |
| 2024 | $725M | - | $120M | $270M | 3.3% | 131.8% | -48.5% |
| 2023 | $313M | - | $232M | $254M | 7.8% | -51.5% | 16.2% |
| 2022 | $645M | - | $200M | $221M | 8.1% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 644.80 | 312.66 | 724.84 | 721.80 |
| Pretax Income | 238.23 | -126 | 155.77 | 99.51 |
| Tax Provision | 51.72 | -63.31 | 36.20 | 11.29 |
| Net Income | 199.76 | 232.18 | 119.56 | 88.22 |
| Net Income Common Stockholders | 199.76 | 232.18 | 119.56 | 88.22 |
| Interest Expense | 37.13 | 246.05 | 339.17 | 335.65 |
| Interest Income | 605.18 | 796.46 | 946.77 | 1,164.23 |
| Selling General And Administration | 248.64 | 282.50 | 309.25 | 360.31 |
| Normalized Income | 186.51 | -62.69 | 119.56 | 88.22 |
| Basic EPS | 1.21 | 1.43 | 0.66 | 0 |
| Diluted EPS | 1.21 | 1.43 | 0.66 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.22 | 0.21 | 0.23 | 0.11 |
| Total Unusual Items | 0 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 186.51 | -62.69 | 119.56 | 88.22 |
| Reconciled Depreciation | 23.42 | 23.64 | 38.31 | 63.53 |
| Net Interest Income | 568.05 | 550.41 | 607.60 | 828.59 |
| Net Income From Continuing And Discontinued Operation | 199.76 | 232.18 | 119.56 | 88.22 |
| Diluted Average Shares | 165.65 | 162.40 | 182.18 | 0 |
| Basic Average Shares | 165.51 | 162.29 | 181.13 | 0 |
| Diluted NI Availto Com Stockholders | 199.76 | 232.18 | 119.56 | 88.22 |
| Net Income Including Noncontrolling Interests | 199.76 | 232.18 | 119.56 | 88.22 |
| Net Income Discontinuous Operations | 13.25 | 294.87 | 0 | 0 |
| Net Income Continuous Operations | 186.51 | -62.69 | 119.56 | 88.22 |
| Other Non Operating Income Expenses | -32.62 | -5.50 | -29.99 | -38.30 |
| Special Income Charges | 0 | 0 | 0 | 0 |
| Gain On Sale Of Security | -7.91 | -322.33 | -4.30 | -255.92 |
| Depreciation Amortization Depletion Income Statement | 1.20 | 1.80 | 14.57 | 34.18 |
| Depreciation And Amortization In Income Statement | 1.20 | 1.80 | 14.57 | 34.18 |
| Amortization | 1.20 | 1.80 | 14.57 | 34.18 |
| Amortization Of Intangibles Income Statement | 1.20 | 1.80 | 14.57 | 34.18 |
| Selling And Marketing Expense | 9.29 | 7.59 | 7.75 | 9.63 |
| General And Administrative Expense | 239.35 | 274.91 | 301.49 | 350.68 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 6.25 | 21.87 | 13.87 | 14.64 |
| Salaries And Wages | 233.10 | 253.03 | 287.63 | 336.04 |
| Operating Revenue | 644.80 | 312.66 | 724.84 | 721.80 |
| Occupancy And Equipment | 37.45 | 35.99 | 41.93 | 45.55 |
| Professional Expense And Contract Services Expense | 15.80 | 13.30 | 12.75 | 14.64 |
| Other Non Interest Expense | 52.94 | 79.51 | 93.20 | 103.11 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Eastern Bankshares, Inc.this co. | EBC | $4.3B | 10.99↓ discount | 1.03 | 2.0% | - |
| PennyMac Financial Services, Inc. | PFSI | $4.6B | 9.59 | 1.08 | 11.6% | - |
| First Financial Bankshares, Inc. | FFIN | $4.6B | 17.30 | 2.36 | 13.2% | - |
| Miami International Holdings, Inc. | MIAX | $4.5B | - | 4.63 | -7.9% | 28.06 |
| International Bancshares Corporation |
| IBOC |
| $4.4B |
| 10.75 |
| 1.36 |
| 12.7% |
| - |
| Texas Capital Bancshares, Inc. | TCBI | $4.3B | 13.26 | 1.31 | 9.1% | - |
| Lemonade, Inc. | LMND | $4.3B | - | 7.97 | -31.0% | -33.42 |
| CNO Financial Group, Inc. | CNO | $4.2B | 19.42 | 1.60 | 8.7% | 7.53 |
| Marex Group plc | MRX | $3.9B | 13.89 | 3.30 | 24.3% | - |
| Peer Median | - | 13.58 | 1.98 | 10.4% | 7.53 | |