Quarterly ResultJul 23, 2026, 04:38 PM
Eastern Bankshares Q2 Net Income $105.2M; Authorizes 5% Buyback
AI Summary
Eastern Bankshares, Inc. reported strong second-quarter 2026 financial results, with net income increasing 61.1% to $105.2 million, or $0.48 per diluted share. The company also announced a new share repurchase program, authorizing the purchase of up to 11.35 million shares, representing 5% of outstanding common stock, through December 31, 2027. Additionally, the Board of Directors declared a quarterly cash dividend of $0.15 per share.
Key Highlights
- Net income for Q2 2026 was $105.2 million, up 61.1% from Q1 2026.
- Diluted earnings per share were $0.48, a 65.5% increase quarter-over-quarter.
- Board approved a new share repurchase program for up to 11.35 million shares (5% of outstanding).
- Declared a quarterly cash dividend of $0.15 per share, payable September 22, 2026.
- Net interest margin (FTE) expanded 3 basis points to 3.66%.
- Period-end loans grew 1.4% to $23.713 billion, and deposits increased 3.2% to $25.919 billion.
- Wealth assets reached a record high of $11.5 billion.
- Non-performing loans decreased 20.6% to $109.4 million.
Price Impact
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