Welcome to our dedicated page for Eastern Bankshares news (Ticker: EBC), a resource for investors and traders seeking the latest updates and insights on Eastern Bankshares stock.
Eastern Bankshares, Inc. (EBC) maintains this dedicated news hub for stakeholders tracking its financial operations and community impact. As New England's oldest mutual bank, EBC delivers timely updates on strategic developments through verified press releases and official announcements.
This comprehensive resource consolidates essential updates including quarterly earnings reports, merger announcements like the Cambridge Trust integration, and community initiatives reflecting its social responsibility commitments. Investors will find material disclosures while local residents discover updates on branch network expansions and financial literacy programs.
All content undergoes strict verification to ensure accuracy standards expected from a FDIC-insured institution. The news archive serves both immediate research needs and long-term trend analysis, with historical context spanning EBC's 1818 founding to modern digital banking innovations.
Bookmark this page for direct access to primary-source updates on commercial lending developments, wealth management offerings, and leadership changes at one of America's most enduring community-focused financial institutions.
Eastern Bankshares, Inc. has successfully completed its acquisition of Century Bancorp, Inc. for approximately
The Eastern Bank Foundation has announced its 2021 Community Advocacy Award honorees, recognizing nonprofit organizations addressing pandemic-induced inequities across various regions, including Cape Cod, Greater Boston, and New Hampshire.
Significant issues highlighted include food insecurity, child care scarcity, and vaccination inequities. The report states that 30% of Massachusetts adults faced food insecurity earlier this year, with disparities among racial groups. Several organizations received awards for their critical interventions in these areas.
Eastern Bankshares, Inc. (EBC) reported a net income of $37.1 million, or $0.22 per share, for Q3 2021, marking an increase from $34.8 million in Q2 2021. The company declared a quarterly dividend of $0.08 per share and announced a share repurchase program to buy back 5% of outstanding shares, pending Federal Reserve approval. Loan growth was robust at $175 million (8% annualized), while nonperforming loans slightly rose to $42.1 million. Total assets reached $17.5 billion, with a decrease in net interest income to $102.7 million, attributed to a low interest rate environment.
The Eastern Bank Foundation announced a plan to sell a pre-arranged portion of Eastern Bankshares, Inc. (NASDAQ: EBC) stock over 18 months. This plan, initiated under Rule 10b5-1 of the Securities Exchange Act, aims to enhance asset diversification and liquidity. The Foundation will sell approximately 25,000 shares weekly starting at the end of October, potentially reducing its holding to 5.6 million shares by February 2023. The Foundation remains committed to its charitable mission while fulfilling fiduciary duties through this strategic plan.
Eastern Bank has announced a new asset-based lending partnership with The GEM Group, allocating
Century Bancorp, Inc. (NASDAQ:CNBKA) reported a net income of $33.3 million for the nine months ended September 30, 2021, reflecting an 8.9% increase year-over-year. Total assets grew 12.1% to $7.13 billion. For Q3 2021, net income was $11.7 million, up 7.8% from the previous year. The company's net interest income rose 13.5% to $88.9 million, despite a decrease in the net interest margin to 1.81%. The firm is set to merge with Eastern Bankshares, Inc. in Q4 2021, with a total transaction value of approximately $642 million.
Eastern Bankshares, Inc. (EBC) is set to release its third quarter 2021 earnings on October 28, 2021, after market close. A conference call to discuss these results is scheduled for October 29, 2021, at 9:00 AM ET, accessible via telephone and webcast. Eastern Bank, with over 110 locations and approximately $17 billion in total assets as of June 30, 2021, offers a range of financial services.
For more details, visit investor.easternbank.com.
Eastern Bankshares and Century Bancorp have secured regulatory approvals for their merger, set to close in mid-fourth quarter 2021. This merger, initially announced on April 7, 2021, aims to enhance banking services across Boston and Eastern Massachusetts. Both companies express optimism about integration, with expected benefits such as expanded locations and improved digital banking. Eastern Bank currently holds approximately $17 billion in assets and boasts a robust community presence with $240 million in charitable contributions since 1994.
Eastern Bank announced a new banking partnership with A-COM Integrated Solutions, providing a comprehensive treasury solution including a
Eastern Bank announces a new commercial banking relationship with Metropolitan Cabinets & Countertops, providing $23 million in financing, including a revolving line of credit and real estate funding. Metropolitan, founded in 1984, operates a 150,000 square foot facility and four showrooms in Greater Boston. This collaboration aims to enhance Metropolitan's operational efficiency and cash flow. Eastern Bank, based in Boston, has over $17 billion in total assets and offers various commercial financing solutions.
