Core Insights - Eastern Bankshares, Inc. (EBC) reported a revenue of $222.4 million for the quarter ended March 2025, reflecting a year-over-year increase of 41.1% [1] - The earnings per share (EPS) for the quarter was $0.34, up from $0.23 in the same quarter last year, with an EPS surprise of +3.03% compared to the consensus estimate of $0.33 [1] - The reported revenue was slightly below the Zacks Consensus Estimate of $228.01 million, resulting in a revenue surprise of -2.46% [1] Financial Performance Metrics - Net Interest Margin stood at 3.4%, exceeding the four-analyst average estimate of 3.3% [4] - Average balance of total interest-earning assets was $23.24 billion, lower than the $23.97 billion average estimate [4] - The efficiency ratio (GAAP) was reported at -275.6%, significantly worse than the average estimate of 58.6% [4] - Total non-performing assets were $91.60 million, compared to the estimated $154.96 million [4] - Net Interest Income was $188.90 million, below the average estimate of $193.81 million [4] - Debit card processing fees reached $3.90 million, surpassing the average estimate of $3.64 million [4] - Trust and investment advisory fees were reported at $16.40 million, higher than the average estimate of $15.59 million [4] - Total Noninterest Income was $33.50 million, slightly below the average estimate of $34.31 million [4] Stock Performance - Shares of Eastern Bankshares have returned -7.6% over the past month, compared to a -5.1% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Eastern Bankshares, Inc. (EBC) came out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.23 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.03%. A quarter ago, it was expected that this company would post earnings of $0.30 per share when it actually produced earnings of $0.34, delivering a surprise of 13.33%.Over the last four quarters, the c ...

Exhibit 99.1 Eastern Bankshares, Inc. Reports First Quarter 2025 Financial Results Completed $1.3 Billion Investment Portfolio Repositioning Announces 8% Increase to Quarterly Dividend BOSTON, April 24, 2025 — Eastern Bankshares, Inc. (the "Company") (NASDAQ: EBC), the holding company of Eastern Bank, today announced its first quarter 2025 financial results. Denis Sheahan, Chief Executive Officer, added, "Our first quarter performance marked a solid start to the year. Operating income of $67.5 million gener ...

Risks and Challenges - The company faces various risks including credit risk, market risk, and operational risk, which could adversely affect its financial condition and results of operations [176]. - The company may not realize the expected benefits from the Cambridge acquisition due to integration challenges, which could negatively impact financial results [182]. - Regulatory approvals for acquisitions may take longer than expected or impose burdensome conditions, potentially delaying or preventing completion [189]. - The company may face challenges in retaining key employees during the integration of acquired businesses, which could disrupt operations [187]. - The company is subject to extensive state and federal regulations that may limit its activities and impose financial requirements [184]. - The company faces significant competition from various financial institutions, including fintechs and internet banks, which may have lower operational costs [216]. - The company faces challenges in attracting and retaining skilled personnel, which is critical for executing its strategic plan [223]. - The company may experience higher rates of default in its commercial loan portfolio due to economic stress and changing market conditions [227]. - The company is subject to significant legal risks, including regulatory investigations and private actions, which could materially affect its business and financial condition [238]. - The company may face costly litigation due to potential infringement of third-party intellectual property rights, which could divert management's attention and resources [260]. Financial Performance and Condition - Increases in interest rates have already had a material adverse effect on net interest income and may continue to do so, affecting loan delinquency rates [182]. - The fair value of the company's investments has declined due to rising interest rates, impacting shareholders' equity and tangible book value per share [184]. - The company incurs significant non-recurring costs related to acquisitions, which may not be offset by the expected benefits from integration [188]. - The company anticipates that future acquisitions may involve significant premiums over book values, potentially diluting tangible book value and net income per share [194]. - The fair value of Eastern Bank's investment portfolio has declined due to increases in interest rates in 2022 and 2023, impacting shareholders' equity [225]. - The fair value of the company's available-for-sale investment portfolio has declined, resulting in a net unrealized loss position, which may lead to recognized losses in future operating results [245]. - The company has approximately $222.7 million invested in projects generating tax credits, with $17.0 million in credits recorded for the year ended December 31, 2024 [256]. - The company faces increased funding costs due to a decline in deposits, which began in 2022, potentially leading to reliance on more expensive funding sources [241]. - The company’s liquidity management includes various funding sources, and adverse operating results could constrain financial flexibility [242]. - Changes in management's estimates and assumptions could materially impact the company's consolidated financial statements and financial condition [253]. Market and Economic Conditions - Higher interest rates are associated with a lower volume of loan originations and refinancings, impacting the ability to generate gains on sales of mortgage loans [198]. - A decline in local economic conditions could lead to higher loan and lease losses, adversely affecting net income [206]. - Economic conditions, including weakness in the U.S. economy, could adversely affect the credit quality of loans, leading to increased loan delinquencies and defaults [261]. - Economic downturns could decrease the level of assets under management, negatively affecting investment management revenue [266]. - Climate change and natural disasters could disrupt operations and negatively impact the value of collateral for loans, affecting financial results [267]. - The prevalence of remote and hybrid working arrangements may reduce demand for office space, adversely impacting loan demand and collateral values [276]. Regulatory and Compliance Issues - The company is subject to stringent capital requirements and may need to raise additional capital in the future [235]. - Regulatory compliance costs may increase due to changes in laws and regulations, potentially affecting profitability and operational results [292]. - The company may face fines or sanctions for non-compliance with the USA PATRIOT Act and Bank Secrecy Act, which could restrict business operations [285]. - The company is subject to various privacy and data protection laws, which may impose additional compliance costs and impact operational results [289]. - Changes in accounting standards may materially impact how the company records and reports its financial condition and results of operations, potentially requiring costly technology changes [263]. - Changes in the legal and regulatory framework may require updates to information systems, complicating compliance and operational efficiency [282]. Strategic Initiatives and Market Position - The company aims to expand its profitable loan and deposit market share through both organic growth and opportunistic strategic transactions [220]. - The competitive landscape is intensifying with the rise of fintechs and technology companies offering banking-like products and services [218]. - Market changes, including a shift towards online and mobile banking, may reduce demand for traditional branch services, impacting revenue [265]. - Changes in public policy priorities, particularly regarding digital assets, could impact customer engagement with traditional banking systems [297]. Corporate Governance and Shareholder Matters - Provisions in the company's articles of organization may make takeover attempts more difficult, potentially affecting the market price of its common stock [300]. - Eastern Bankshares, Inc. has established that Massachusetts courts will be the exclusive forum for most disputes, potentially limiting shareholders' options for favorable judicial forums [303]. - The company has received three notices of non-objection for proposed share repurchase programs, each covering an approximately 12-month period [304]. - The exclusive forum provision may discourage lawsuits against the company and its directors, but could lead to additional costs if found unenforceable [303]. - The company has adopted an Equity Plan that will increase annual compensation and benefit expenses related to stock awards granted to participants [298]. - Section 162(m) of the Internal Revenue Code limits the deductibility of executive compensation to $1 million, potentially increasing income taxes and reducing net income [291]. - The company may be required to act as a "source of strength" to its banking subsidiaries, which could adversely affect its financial condition [288].

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell even higher, with the expectation that established trends will continue [1] Company Overview: Eastern Bankshares, Inc. (EBC) - EBC currently holds a Momentum Style Score of B, indicating a favorable position in momentum investing [2] - The company has a Zacks Rank of 1 (Strong Buy), suggesting strong potential for outperformance in the market [3] Price Performance - EBC shares have increased by 2.86% over the past week, outperforming the Zacks Banks - Northeast industry, which rose by 0.51% [5] - Over the past month, EBC's price change is 11.66%, compared to the industry's 6.45% [5] - In the last three months, EBC shares rose by 3.18%, and over the past year, they increased by 40.29%, while the S&P 500 saw gains of 2.97% and 24.31%, respectively [6] Trading Volume - EBC's average 20-day trading volume is 999,276 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, four earnings estimates for EBC have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $1.31 to $1.49 [9] - For the next fiscal year, three estimates have also moved upwards without any downward revisions [9] Conclusion - Given the positive momentum indicators and earnings outlook, EBC is positioned as a strong buy candidate for investors seeking short-term opportunities [11]

Core Viewpoint - Eastern Bankshares, Inc. (EBC) is experiencing solid improvement in earnings estimates, which is likely to positively impact its stock price momentum [1][2]. Estimate Revisions - The upward trend in earnings estimate revisions indicates growing analyst optimism regarding Eastern Bankshares' earnings prospects, which correlates with stock price movements [2]. - The current-quarter earnings estimate is $0.33 per share, reflecting a +43.48% change from the previous year, with a 9.17% increase in the Zacks Consensus Estimate over the last 30 days due to four upward revisions [4]. - For the full year, the expected earnings are $1.49 per share, representing a +40.57% change from the prior year, with a 13.98% increase in the consensus estimate driven by four upward revisions [5]. Zacks Rank - Eastern Bankshares has achieved a Zacks Rank 1 (Strong Buy), indicating strong agreement among analysts in raising earnings estimates, which is expected to lead to significant stock outperformance [3][6]. - Stocks with Zacks Rank 1 and 2 are shown to significantly outperform the S&P 500 [6]. Stock Performance - The stock has gained 5.2% over the past four weeks, reflecting investor confidence in the company's earnings growth prospects [7].

Financial Data and Key Metrics Changes - The company reported its Q4 2024 earnings, with a focus on both GAAP and non-GAAP financial measures, indicating a comprehensive financial performance review [2][3] Business Line Data and Key Metrics Changes - Specific details regarding the performance of various business lines were not provided in the available content Market Data and Key Metrics Changes - Information on market performance and key metrics was not included in the provided content Company Strategy and Development Direction and Industry Competition - The management discussed future financial and operating results, business strategies, and potential risks, reflecting a proactive approach to navigating the competitive landscape [1] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of forward-looking statements, highlighting the uncertainties that may affect actual results compared to current estimates [1] Other Important Information - The call included a reminder about the recording of the event and the mute status of participants to ensure clarity during the discussion [2] Q&A Session Summary Question: What are the expectations for future financial performance? - Management provided insights into their outlook, but specific details were not disclosed in the available content [1]

Q4 Earnings Presentation January 23, 2025 Q4 2024 financial highlights Key Metrics Highlights $60.8 million Net income $68.3 million Operating net income* | $0.30 | $0.34 | | --- | --- | | Diluted EPS | Diluted operating EPS* | | 3.05% | 1.69% | | NIM* | Total deposit cost | | 0.76% | 0.71% | | NPLs / total loans | NCOs / avg. loans | $0.12 per share Dividend declared *Non-GAAP Financial Measure. Please refer to Appendices A-D for applicable reconciliation. 1CET1 ratio as of December 31, 2024 is preliminary ...

Group 1 - Eastern Bankshares, Inc. reported quarterly earnings of $0.34 per share, exceeding the Zacks Consensus Estimate of $0.30 per share, and showing a significant increase from $0.10 per share a year ago, representing an earnings surprise of 13.33% [1] - The company posted revenues of $225.78 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 7.39%, compared to revenues of $160.05 million in the same quarter last year [2] - Eastern Bankshares has surpassed consensus EPS estimates two times over the last four quarters and has also topped consensus revenue estimates two times during the same period [2] Group 2 - The stock has gained approximately 1.7% since the beginning of the year, while the S&P 500 has increased by 3.5% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the upcoming quarter is $0.30 on revenues of $215.5 million, and for the current fiscal year, it is $1.31 on revenues of $888.06 million [7] Group 3 - The Zacks Industry Rank indicates that the Banks - Northeast industry is currently in the top 20% of over 250 Zacks industries, suggesting a favorable outlook for stocks within this sector [8] - The estimate revisions trend for Eastern Bankshares is mixed, resulting in a Zacks Rank 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6]

Financial Performance - Fourth quarter 2024 net income was $60.8 million, or $0.30 per diluted share, a significant increase from a net loss of $6.2 million in the previous quarter[2]. - Operating net income for the fourth quarter was $68.3 million, or $0.34 per diluted share, representing a 37% increase from the prior quarter[2]. - Total revenue for Q4 2024 reached $216,542,000, up 6.4% from $203,383,000 in Q3 2024[34]. - Net income from continuing operations for Q4 2024 was $60,771,000, compared to a loss of $6,188,000 in Q3 2024[34]. - The company reported a net income of $119,561,000 for the twelve months ended December 31, 2024, down 49% from $232,177,000 in the previous year[44]. - Earnings per share for continuing operations was $0.66, compared to a loss of $0.39 in the previous year, indicating a strong turnaround[44]. Income and Expenses - Net interest income increased to $179.2 million, up $9.3 million or 5% from the previous quarter, driven by an expanded net interest margin of 3.05%[2][7]. - Noninterest income rose to $37.3 million, an increase of $3.8 million or 11% from the prior quarter[2][10]. - Noninterest expense decreased by $22.2 million to $137.5 million, primarily due to a reduction in merger-related expenses[2][11]. - Total noninterest expense decreased to $137,544,000, down 14% from the previous quarter and up 14% year-over-year[42]. - Noninterest income totaled $37,349,000, reflecting an 11% increase from the previous quarter and a 40% increase year-over-year[42]. Loans and Assets - Total loans were $18.1 billion, reflecting a slight increase of $15 million from the previous quarter[2][8]. - Total loans increased to $18,079,084,000 in Q4 2024, compared to $18,064,126,000 in Q3 2024[34]. - Total assets as of December 31, 2024, were $25,557,880,000, slightly up from $25,507,187,000 at the end of Q3 2024[34]. - Total assets increased to $25,738,494 thousand as of December 31, 2024, up from $25,038,905 thousand in the previous quarter[46]. - Total loans reached $17,805,289 thousand with a net interest income of $239,115 thousand, yielding a margin of 5.34% for the three months ended December 31, 2024[46]. Capital and Ratios - The CET1 capital ratio was 15.73% at year-end, an increase of 0.23% from the previous quarter[2]. - The efficiency ratio improved to 63.5% in Q4 2024, down from 78.5% in Q3 2024[34]. - Return on average assets for Q4 2024 was 0.94%, a recovery from a negative 0.10% in Q3 2024[34]. - The allowance for loan losses (ALLL) was $228,952,000, down from $253,821,000 in Q3 2024[34]. - The shareholders' equity to assets ratio (GAAP) is 14.13% as of December 31, 2024, down from 14.39% as of September 30, 2024[63]. Dividends and Shareholder Returns - The company declared a quarterly cash dividend of $0.12 per common share, payable on March 14, 2025[2][17]. - Common shares outstanding decreased to 213,909,472 as of December 31, 2024, from 214,802,602 as of September 30, 2024[64]. - Book value per share (GAAP) is $16.89 as of December 31, 2024, a decrease from $17.09 as of September 30, 2024[64]. Non-GAAP Measures and Adjustments - The Company presents non-GAAP financial measures to provide greater visibility into its core business performance, excluding certain non-core items[24]. - Management emphasizes that non-GAAP measures should not be considered substitutes for GAAP financial results, as they may differ from methodologies used by other banking companies[28]. - The Company adjusted its calculations for return on average tangible shareholders' equity and operating efficiency ratio to exclude amortization of intangible assets[26][27]. - The operating efficiency ratio (non-GAAP) was 60.3% for the twelve months ended December 31, 2024, compared to 62.3% in the previous year[62]. Risks and Forward-Looking Statements - The Company anticipates potential risks including loan delinquencies, competitive pressures, and challenges in achieving merger synergies[30]. - Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations[29]. - The Company does not undertake any obligation to update forward-looking statements after the date of the press release[31].