Eastern Bankshares, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 27, 2023 at 04:15 pm EDT
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Eastern Bankshares, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 141.59 million compared to USD 137.76 million a year ago. Net income was USD 48.66 million compared to USD 51.17 million a year ago. Basic earnings per share from continuing operations was USD 0.3 compared to USD 0.31 a year ago. Diluted earnings per share from continuing operations was USD 0.3 compared to USD 0.31 a year ago.
For the six months, net interest income was USD 279.9 million compared to USD 265.88 million a year ago. Net loss was USD 145.44 million compared to net income of USD 102.69 million a year ago. Basic loss per share from continuing operations was USD 0.9 compared to basic earnings per share from continuing operations of USD 0.61 a year ago. Diluted loss per share from continuing operations was USD 0.9 compared to diluted earnings per share from continuing operations of USD 0.61 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. 
