Eastern Bankshares, Inc. (EBC) [Rocket]

In millions, except per share items	Jun-30-23	Mar-31-23	Dec-31-22	Sep-30-22	Jun-30-22	Mar-31-22	Dec-31-21	Sep-30-21
	10-Q	10-Q	8-K	8-K	10-Q	10-Q	8-K	10-Q
Operating activities
Net income (loss)	-145.4	-142.9			139.8	123.4		75.5

Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	7.5	7.2			10.6	10.5		13.5
Deferred income tax (benefit) expense	-76.9	-72.4			15.0	14.6		-7.2
Amortization of investment security premiums and discounts, net	3.9	6.8			13.6	12.5		13.6
Right-of-use asset amortization	6.2	6.4			9.6	9.6		12.2
Share-based compensation	7.7	6.0			6.7	3.8		2.2
Increase in cash surrender value of bank-owned life insurance	-1.9	-1.9			-2.3	-1.9		-2.1
Loss on sale of securities available for sale, net		333.3			2.3	2.2
Accretion of gains from terminated interest rate swaps		-3.1			-16.2	-21.4		-32.8
Employee Stock Ownership Plan expense	3.5	4.1			5.0	2.6
Other	0.4	-0.6			0.3	1.3

Change in:
Loans held for sale	1.7	1.8			0.4	-0.7
Prepaid pension expense	2.4	0.7			-7.3	-6.0		4.9
Other assets	-45.2	0.4			74.0	30.8		67.5
Other liabilities	65.9	52.4			-8.2	-33.1		-31.2
Net cash provided by operating activities	172.9	198.0			233.3	130.6		182.6

Investing activities
Proceeds from sales of securities available for sale		1,905.4			238.2	232.6
Proceeds from maturities and principal paydowns of securities available for sale	230.2	392.2			816.4	721.7		736.4
Purchases of securities available for sale					-1,735.7	-2,536.6		-4,342.8
Proceeds from maturities and principal paydowns of securities held to maturity	11.8	10.4			5.2	0.4
Purchases of securities held to maturity					-493.7	-395.8
Proceeds from sale of Federal Home Loan Bank stock	168.6	110.9
Purchases of Federal Home Loan Bank stock	-154.1	-109.5
Contributions to low income housing tax credit investments	-19.2	-16.5			-16.8	-13.1		-12.9
Contributions to other equity investments	-0.5	-0.9			-0.8			-5.1
Distributions from other equity investments	0.2	0.2			0.8	0.9		0.4
Purchases of loans		-32.0
Proceeds from life insurance policies					20.4	19.7
Acquisitions, net of cash and cash equivalents acquired						-9.6
Purchased banking premises and equipment	-2.2	-2.8			-6.8	-6.4		-5.5
Proceeds from sale of premises held for sale					12.2	8.4
Net cash provided by (used in) investing activities	1,747.1	1,679.2			-1,164.8	-1,470.1		-3,160.9

Financing activities
Net decrease in demand, savings, interest checking, and money market investment deposit accounts	-1,520.3	-966.5			-346.1	-155.4
Net increase (decrease) in time deposits	726.9	304.7
Contingent consideration paid	-0.6	-0.5			-0.3	-0.2		-0.2
Payments for repurchases of common stock					-141.8	-60.6
Dividends declared and paid to common shareholders	-32.4	-32.7			-47.2	-44.5		-37.9
Net cash used in financing activities	-1,216.0	-370.5			-243.8	329.7		1,902.0
Net increase (decrease) in cash, cash equivalents, and restricted cash	704.0	1,506.7			-862.9	-401.3

Supplemental disclosure of cash flow information
Cash paid during the period for:
Interest paid on deposits and borrowings	105.1	49.8			7.3	5.2		4.1
Income taxes	21.6	20.3			27.3	43.1		42.4
Non-cash activities
Net increase in capital commitments relating to low income housing tax credit projects	89.5	57.9			20.8	25.9		28.3