Eastern Bankshares, Inc. (EBC)

Eastern Bankshares Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	808.04	652.1	476.04	367.59	372.15
Interest Income on Investments	138.73	144.36	129.14	67.57	41.18
Total Interest Income	946.77	796.46	605.18	435.16	413.33
Interest Paid on Deposits	337.37	226.08	28.62	5.17	11.32
Interest Paid on Borrowings	1.8	19.98	8.51	0.17	0.76
Total Interest Expense	339.17	246.05	37.13	5.33	12.08
Net Interest Income	607.6	550.41	568.05	429.83	401.25
Net Interest Income Growth (YoY)	10.39%	-3.11%	32.16%	7.12%	-2.43%
Trust Income	46.13	24.26	23.59	24.59	21.1
Income From Trading Activities	-	-	-	-	-0
Gain (Loss) on Sale of Assets	-	-	-	1.4	-
Gain (Loss) on Sale of Investments	-16.8	-333.17	-3.16	1.34	-10.49
Other Non-Interest Income	63.51	45.77	25.67	42.41	128.36
Total Non-Interest Income	123.92	-237.75	76.75	97.61	167.59
Non-Interest Income Growth (YoY)	-	-	-21.37%	-41.76%	-8.07%
Revenues Before Loan Losses	731.51	312.66	644.8	527.43	568.85
Provision for Loan Losses	67.38	20.05	17.93	-9.69	38.8
Revenue	664.13	292.6	626.88	537.12	530.05
Revenue Growth (YoY)	126.97%	-53.32%	16.71%	1.33%	-9.74%
Salaries and Employee Benefits	302.35	229.86	212.67	218.22	259.48
Occupancy Expenses	46.52	20.79	22.18	22.69	17.41
Federal Deposit Insurance	13.87	21.87	6.25	4.23	3.73
Amortization of Goodwill & Intangibles	14.57	1.8	1.2	0.22	2.86
Selling, General & Administrative	103.28	113.23	113.73	100.18	89.32
Other Non-Interest Expense	27.79	25.56	20.58	15.6	26.08
Total Non-Interest Expense	508.37	413.11	376.6	361.13	494.14
EBT Excluding Unusual Items	155.77	-120.5	250.28	176	35.9
Other Unusual Items	-	-	-12.05	-	-
Pretax Income	155.77	-126	238.23	176	35.9
Income Tax Expense	36.21	-63.31	51.72	30.46	13.16
Earnings From Continuing Operations	119.56	-62.69	186.51	145.53	22.74
Earnings From Discontinued Operations	-	294.87	13.25	9.13	-
Net Income	119.56	232.18	199.76	154.67	22.74
Net Income to Common	119.56	232.18	199.76	154.67	22.74
Net Income Growth	-48.50%	16.23%	29.16%	580.20%	-83.17%
Basic Shares Outstanding	181	162	166	172	172
Diluted Shares Outstanding	182	162	166	172	172
Shares Change (YoY)	12.18%	-1.96%	-3.83%	0.26%	-
EPS (Basic)	0.66	1.43	1.21	0.90	0.13
EPS (Diluted)	0.66	1.43	1.21	0.90	0.13
EPS Growth	-53.71%	18.12%	34.37%	590.93%	-
Dividend Per Share	0.450	0.410	0.400	0.300	-
Dividend Growth	9.76%	2.50%	33.33%	-	-
Effective Tax Rate	23.24%	-	21.71%	17.31%	36.66%

Source: S&P Capital IQ. Banks template. Financial Sources.