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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% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 644.80 | 312.66 | 724.84 | 721.80 |
| Operating Revenue | - | 644.80 | 312.66 | 724.84 | 721.80 |
| Selling General And Administration | - | 248.64 | 282.50 | 309.25 | 360.31 |
| Interest Income | - | 605.18 | 796.46 | 946.77 | 1,164.23 |
| Interest Expense | - | 37.13 | 246.05 | 339.17 | 335.65 |
| Net Interest Income | - | 568.05 | 550.41 | 607.60 | 828.58 |
| Other Non Operating Income Expenses | - | -32.62 | -5.50 | -29.99 | -38.30 |
| Pretax Income | - | 238.23 | -126 | 155.77 | 99.51 |
| Tax Provision | - | 51.72 | -63.31 | 36.20 | 11.29 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 186.51 | -62.69 | 119.56 | 88.22 |
| Net Income From Continuing And Discontinued Operation | - | 199.76 | 232.18 | 119.56 | 88.22 |
| Net Income From Continuing Operation Net Minority Interest | - | 186.51 | -62.69 | 119.56 | 88.22 |
| Net Income | - | 199.76 | 232.18 | 119.56 | 88.22 |
| Net Income Common Stockholders | - | 199.76 | 232.18 | 119.56 | 88.22 |
| Net Income Including Noncontrolling Interests | - | 199.76 | 232.18 | 119.56 | 88.22 |
| Normalized Income | - | 186.51 | -62.69 | 119.56 | 88.22 |
| Diluted NI Availto Com Stockholders | - | 199.76 | 232.18 | 119.56 | 88.22 |
| Basic Average Shares | - | 165.51 | 162.29 | 181.13 | 203.17 |
| Diluted Average Shares | - | 165.65 | 162.40 | 182.18 | 204.34 |
| Reconciled Depreciation | - | 23.42 | 23.64 | 38.31 | 63.53 |
| Total Unusual Items | 0 | 0 | - | - | - |
| Total Unusual Items Excluding Goodwill | 0 | 0 | - | - | - |
| Net Income Discontinuous Operations | - | 13.25 | 294.87 | 0 | 0 |
| Special Income Charges | 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 |
| General And Administrative Expense | - | 239.35 | 274.91 | 301.49 | 350.68 |
| Other Gand A | 50.84 | - | - | - | - |
| Salaries And Wages | - | 233.10 | 253.03 | 287.63 | 336.04 |
| Insurance And Claims | - | 6.25 | 21.87 | 13.87 | 14.64 |
| Selling And Marketing Expense | - | 9.29 | 7.59 | 7.75 | 9.63 |
| Amortization | - | 1.20 | 1.80 | 14.57 | 34.18 |
| Amortization Of Intangibles Income Statement | - | 1.20 | 1.80 | 14.57 | 34.18 |
| Occupancy And Equipment | - | 37.44 | 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 | 103.10 |
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 | 48.96↑ premium | 1.00 | 2.0% | - |
| Nelnet, Inc. | NNI | $4.7B | 11.06 | 1.26 | 11.4% | - |
| First Financial Bankshares, Inc. | FFIN | $4.6B | 18.28 | 2.42 | 13.2% | - |
| International Bancshares Corporation | IBOC | $4.5B | 11.00 | 1.39 | 12.7% | - |
| Texas Capital Bancshares, Inc. | TCBI |
| - |
| - |
| - |
| - |
| - |
| $4.5B |
| 13.53 |
| 1.34 |
| 9.9% |
| - |
| CNO Financial Group, Inc. | CNO | $4.4B | 19.18 | 1.67 | 8.7% | - |
| PennyMac Financial Services, Inc. | PFSI | $4.2B | 8.45 | 0.98 | 11.6% | 43.48 |
| Lemonade, Inc. | LMND | $4.0B | - | 7.42 | -31.0% | - |
| Marex Group plc | MRX | $3.9B | 12.76 | 3.10 | 24.3% | 9.33 |
| Peer Median | - | 12.76 | 1.53 | 11.5% | 26.41 | |