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 Bank has elected five community leaders to its Board of Advisors and Board of Ambassadors. This includes Carolina Alarco, Founder of Bio Strategy Advisors LLC, and Michael A. Curry, CEO of Massachusetts League of Community Health Centers, as Advisors. Ambassadors include Yolanda Coentro, Elizabeth Turnbull Henry, and Grace Moreno, leaders in nonprofit, sustainability, and LGBTQ+ sectors. CEO Bob Rivers emphasizes their insights will enhance community support and customer value. Eastern Bank has over
Eastern Bankshares, Inc. (EBC) reported strong first-quarter 2022 results with net income of $51.5 million, or $0.30 per diluted share, up from $35.1 million in the previous quarter. Operating net income rose 23% year-over-year to $55.1 million. Loan growth, excluding PPP loans, was 3.1%. However, total assets decreased by 3% to $22.8 billion, and shareholders’ equity dropped by $398 million, primarily due to market value declines in investments. The company declared a quarterly cash dividend of $0.10 per share, payable June 15, 2022.
Eastern Bank announces a new commercial banking relationship with Charles D. Sheehy, Inc., providing financing for a working line of credit, term loan, and commercial real estate mortgage. Founded in 1951, Sheehy is a longstanding supplier in the New England contracting industry. This partnership supports Sheehy's financial and growth needs, ensuring the company can maintain a high level of service to its clients. Eastern Bank, established in 1818, has over $24 billion in assets and offers a range of commercial financing solutions to various industries.
Eastern Bankshares, Inc. (EBC) will report its first quarter 2022 earnings on April 28, 2022, after market close. A conference call is scheduled for April 29, 2022, at 9:00 AM ET, which will also be webcasted. Eastern Bank operates over 120 locations and holds approximately $24 billion in total assets. The bank offers diverse financial services to consumers and businesses. For investor information, visit investor.easternbank.com.
Needham Bank has finalized the transfer of cannabis banking and money service businesses from Eastern Bankshares, Inc. (EBC) after obtaining regulatory approvals. Needham has also onboarded the previous cannabis banking team led by Paul Evangelista, enhancing its ability to serve this sector. The Medford branch of Eastern will continue servicing customers as part of the transition. President Joseph Campanelli expressed confidence in the bank's infrastructure and commitment to building relationships with new clients. The asset purchase was initially announced on January 14, 2022.
Eastern Bank has secured a new asset-based lending relationship with Boston Battery LLC, providing
Eastern Bank has announced key appointments to its Management Committee, including Gregory P. Buscone, Martha A. Dean, Timothy J. Lodge, Matthew A. Osborne, and Sujata Yadav. CEO Bob Rivers expressed optimism about their diverse expertise and community involvement. The Management Committee now comprises fourteen senior executives, with 64% being women, people of color, or younger than 50. Eastern Bank, founded in 1818, has over 120 locations and approximately $24 billion in total assets, emphasizing its commitment to community engagement and strategic growth.
Eastern Bank Foundation has appointed Natalia Urtubey as a Foundation Fellow, focused on enhancing equity in the small business ecosystem. She comes from the City of Boston’s Office of Economic Opportunity & Inclusion, where she led significant initiatives like distributing over $28.6M in small business grants during the pandemic. Her role aims to support economic inclusion and mobility, particularly for historically underrepresented communities. The Foundation focuses on building networks for business owners of color through strategic funding and collaborations with nonprofit organizations.
