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Income Statement
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Eastern Bankshares, Inc. (EBC)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsJun-30-23Mar-31-23Dec-31-22Sep-30-22Jun-30-22Mar-31-22Dec-31-21Sep-30-21
   10-Q10-Q8-K8-K10-Q10-Q8-K10-Q
Interest and dividend income:          
Interest and fees on loans  160.9153.5  107.2101.4 86.7
Taxable interest and dividends on securities  24.628.6  31.127.9  
Non-taxable interest and dividends on securities  1.41.4  1.91.8  
Interest on federal funds sold and other short-term investments  14.95.30.5-1.20.70.40.10.6
    Total interest and dividend income  201.8188.9175.017.2140.9131.550.2103.5
   
Interest expense:          
Interest on deposits  56.142.917.512.93.13.315.70.7
Interest on borrowings  4.07.6  0.10.0 0.0
    Total interest expense  60.250.625.019.73.13.423.50.8
Net interest income  141.6138.3150.034.7137.8128.127.6102.7
Provision for allowance for loan losses  7.5   1.1   
    Net interest income after provision for allowance for loan losses  134.1138.3  136.7128.6 104.2
   
Noninterest income (loss):          
Insurance commissions  27.631.5  24.728.7 22.0
Service charges on deposit accounts  7.26.56.80.18.38.5-0.45.9
Trust and investment advisory fees  6.15.85.6-0.26.06.1-0.96.3
Debit card processing fees  3.53.23.20.03.22.90.13.0
Interest rate swap income  0.8   1.6   
Income (losses) from investments held in rabbi trusts  3.02.9  -7.3-4.4  
(Losses) gains on sales of mortgage loans held for sale, net  -0.1-0.1  0.00.2  
Losses on sales of securities available for sale, net   -333.2  -0.1-2.2  
Other  5.65.6  5.43.6 4.7
    Total noninterest income (loss)  53.8-278.344.51.241.946.4-4.543.2
   
Noninterest expense:          
Salaries and employee benefits  79.278.5  73.069.5 66.2
Office occupancy and equipment  9.89.9  9.911.6 8.0
Data processing  13.913.4  14.315.3 12.2
Professional services  4.13.4  3.54.0 4.0
Marketing expenses  2.11.13.10.92.71.61.21.6
Loan expenses  1.11.10.6-1.71.61.9-1.31.6
FDIC insurance  3.02.5  1.71.4 1.1
Amortization of intangible assets  1.21.01.10.10.90.80.40.6
Other  7.25.4  3.52.7 3.7
    Total noninterest expense  121.6116.3132.815.9111.1108.9-10.999.0
    Income (loss) before income tax expense (benefit)  66.3-256.3  67.466.2 48.4
Income tax expense (benefit)  17.6-62.28.6-8.916.314.611.111.3
    Net income (loss)  48.7-194.142.30.051.251.50.037.1
   
Basic earnings per share (in dollars per share)  $0.30($1.20)$0.26$0.33$0.31$0.30$0.20$0.22
Diluted earnings per share (in dollars per share)  $0.30($1.20)$0.26$0.33$0.31$0.30$0.20$0.22

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