Eastern Bankshares Inc（EBC）资讯与事件EBCEastern Bankshares Inc

Company Reports Q3 Revenue of $306.6M, Below Expectations

Reports Q3 revenue $306.6M, consensus $310.6M. "We are pleased with our third quarter performance, which reflects disciplined execution on our priorities of growing organically and returning capital to shareholders," said Denis Sheahan, Chief Executive Officer. "CRE and C&I lending drove solid total loan growth, while CRE payoffs continued to be a headwind, despite moderating from the second quarter. Commercial loan pipelines remain strong, although the pace of closings has been somewhat slower than anticipated as some clients take a more measured approach to investment decisions amid interest rate uncertainty. Overall, customers remain resilient and business activity continues to generate demand for financing. On the funding side, period-end deposits grew modestly despite seasonal municipal outflows. While competition remains elevated, we are committed to gathering core deposits to support our growth strategy. Wealth Management further increased assets under management and administration, and our comprehensive, team-based approach continues to differentiate us. While we are in the early stages of capitalizing on the full potential of our Wealth Management business, we are generating meaningful momentum, and are encouraged about its long-term outlook."

Company Reports Q2 Revenue of $309.5M

Reports Q2 revenue $309.5M, consensus $308.2M. Reports return on average assets of 1.37% and return on average tangible common equity of 15.2%. Net interest margin on fully tax equivalent basis expanded 3 basis points to 3.66%, due to higher asset yields.

Company Board Approves Share Repurchase of Up to 11.35 Million Shares

The company's Board of Directors authorized a new share repurchase program of up to 11.35 million shares, or 5% of common stock outstanding. The repurchase program expires on December 31, 2027.