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Income Statement
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Eastern Bankshares, Inc. (EBC)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18
   10-K10-K10-K10-K10-K
Interest and dividend income:       
Interest and fees on loans  476.0367.6372.2402.1369.1
Interest on federal funds sold and other short-term investments  3.31.91.83.03.4
    Total interest and dividend income  605.2435.2413.3445.0415.2
   
Interest expense:       
Interest on deposits  28.65.211.327.317.4
Interest on borrowings  8.50.20.86.57.7
    Total interest expense  37.15.312.133.825.1
Net interest income  568.1429.8401.3411.3390.0
    Net interest income after provision for allowance for loan losses  550.1439.5362.5405.0374.9
   
Noninterest income (loss):       
Insurance commissions  99.294.794.590.691.9
Service charges on deposit accounts  30.424.321.627.026.9
Trust and investment advisory fees  23.624.621.119.719.1
Debit card processing fees  12.612.110.310.516.2
Other  18.016.914.616.220.5
    Total noninterest income (loss)  176.2193.2178.4182.3180.6
   
Noninterest expense:       
Salaries and employee benefits  298.2295.9261.8252.2239.3
Office occupancy and equipment  40.840.533.836.535.5
Data processing  57.350.845.345.945.3
Professional services  16.821.916.416.014.8
Marketing expenses  9.58.78.99.611.1
Loan expenses  6.49.19.24.63.9
FDIC insurance  6.34.23.71.94.2
Amortization of intangible assets  3.92.52.93.53.9
Other  30.510.327.726.326.8
    Total noninterest expense  469.6444.0504.9412.7397.9
    Income (loss) before income tax expense (benefit)  256.7188.735.9174.6157.6
Income tax expense (benefit)  56.934.013.239.534.9
    Net income (loss)  199.8154.722.7135.1122.7
   
Basic earnings per share (in dollars per share)  $1.21$0.90$0.13  
Diluted earnings per share (in dollars per share)  $1.21$0.90$0.13  

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