Eastern Bankshares, Inc. (EBC)

Eastern Bankshares Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	741.74	652.1	476.04	367.59	372.15	402.09
Interest Income on Investments	137.91	144.36	129.14	67.57	41.18	42.93
Total Interest Income	879.65	796.46	605.18	435.16	413.33	445.02
Interest Paid on Deposits	313.65	226.08	28.62	5.17	11.32	27.3
Interest Paid on Borrowings	4.29	19.98	8.51	0.17	0.76	6.45
Total Interest Expense	317.94	246.05	37.13	5.33	12.08	33.75
Net Interest Income	561.71	550.41	568.05	429.83	401.25	411.26
Net Interest Income Growth (YoY)	-0.95%	-3.11%	32.16%	7.12%	-2.43%	5.44%
Trust Income	34.29	24.26	23.59	24.59	21.1	19.65
Income From Trading Activities	-	-	-	-	-0	1.3
Gain (Loss) on Sale of Assets	-	-	-	1.4	-	-
Gain (Loss) on Sale of Investments	-7.56	-333.17	-3.16	1.34	-10.49	2.02
Other Non-Interest Income	56.38	45.77	25.67	42.41	128.36	131.5
Total Non-Interest Income	113.31	-237.75	76.75	97.61	167.59	182.3
Non-Interest Income Growth (YoY)	-	-	-21.37%	-41.76%	-8.07%	0.94%
Revenues Before Loan Losses	675.02	312.66	644.8	527.43	568.85	593.56
Provision for Loan Losses	65.76	20.05	17.93	-9.69	38.8	6.3
Revenue	609.26	292.6	626.88	537.12	530.05	587.26
Revenue Growth (YoY)	103.57%	-53.32%	16.71%	1.33%	-9.74%	5.71%
Salaries and Employee Benefits	266.08	229.86	212.67	218.22	259.48	252.24
Occupancy Expenses	27.05	20.79	22.18	22.69	17.41	19.56
Federal Deposit Insurance	23.48	21.87	6.25	4.23	3.73	1.88
Amortization of Goodwill & Intangibles	7.72	1.8	1.2	0.22	2.86	3.54
Selling, General & Administrative	134.91	113.23	113.73	100.18	89.32	88.42
Other Non-Interest Expense	27.12	25.56	20.58	15.6	26.08	34.15
Total Non-Interest Expense	486.36	413.11	376.6	361.13	494.14	412.68
EBT Excluding Unusual Items	122.9	-120.5	250.28	176	35.9	174.58
Other Unusual Items	-	-	-12.05	-	-	-
Pretax Income	117.41	-126	238.23	176	35.9	174.58
Income Tax Expense	27.11	-63.31	51.72	30.46	13.16	39.48
Earnings From Continuing Operations	90.3	-62.69	186.51	145.53	22.74	135.1
Earnings From Discontinued Operations	286.99	294.87	13.25	9.13	-	-
Net Income	377.29	232.18	199.76	154.67	22.74	135.1
Net Income to Common	377.29	232.18	199.76	154.67	22.74	135.1
Net Income Growth	-	16.23%	29.16%	580.20%	-83.17%	10.08%
Basic Shares Outstanding	171	162	166	172	172	-
Diluted Shares Outstanding	172	162	166	172	172	-
Shares Change (YoY)	6.17%	-1.96%	-3.83%	0.26%	-	-
EPS (Basic)	2.20	1.43	1.21	0.90	0.13	-
EPS (Diluted)	2.19	1.43	1.21	0.90	0.13	-
EPS Growth	-	18.12%	34.37%	590.93%	-	-
Dividend Per Share	0.440	0.410	0.400	0.300	-	-
Dividend Growth	10.00%	2.50%	33.33%	-	-	-
Effective Tax Rate	23.09%	-	21.71%	17.31%	36.66%	22.61%

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