Eastern Bankshares, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 25, 2024 at 04:20 pm EST
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Eastern Bankshares, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net interest income was USD 133.31 million compared to USD 149.99 million a year ago. Net income was USD 318.5 million compared to USD 42.29 million a year ago. Basic earnings per share from continuing operations was USD 0.19 compared to USD 0.25 a year ago. Diluted earnings per share from continuing operations was USD 0.19 compared to USD 0.25 a year ago. Basic earnings per share was USD 1.96 compared to USD 0.26 a year ago. Diluted earnings per share was USD 1.95 compared to USD 0.26 a year ago.
For the full year, net interest income was USD 550.41 million compared to USD 568.05 million a year ago. Net income was USD 232.18 million compared to USD 199.76 million a year ago. Basic loss per share from continuing operations was USD 0.39 compared to basic earnings per share from continuing operations of USD 1.13 a year ago. Diluted loss per share from continuing operations was USD 0.39 compared to diluted earnings per share from continuing operations of USD 1.13 a year ago. Basic earnings per share was USD 1.43 compared to USD 1.21 a year ago. Diluted earnings per share was USD 1.43 compared to USD 1.21 a year ago.
Eastern Bankshares, Inc. is the stock holding company for Eastern Bank (The Bank). Through the Bank, it provides a variety of banking and trust and investment services. Its diversified products and services include lending, deposit, and wealth management. It offers a range of demand deposit accounts, interest checking accounts, money market accounts, savings accounts, and time certificates of deposit accounts. Its banking business consists of a full range of banking, lending (commercial, residential and consumer), savings and small business offerings, including its wealth management and trust operations that it conducts through its Eastern Wealth Management division. It offers automated lock box collection services, cash management services and account reconciliation services to its corporate and institutional customers, as well as cash management services to its municipal clients. Its securities portfolio consists of government-sponsored residential mortgage-backed securities.
EASTERN BANKSHARES, INC. 
