Eastern Bankshares(EBC)

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Eastern Bankshares(EBC) - 2023 Q3 - Earnings Call Transcript
2023-10-27 15:48
Eastern Bankshares Inc (NASDAQ:EBC) Q3 2023 Results Conference Call October 27, 2023 9:00 AM ET Company Participants Bob Rivers - Chairman and CEO Jim Fitzgerald - CFO, Chief Administrative Officer and Treasurer Conference Call Participants Mark Fitzgibbon - Piper Sandler Damon DelMonte - KBW Laurie Hunsicker - Spark Research Partners Operator Hello, and welcome to Eastern Bankshares Inc Third Quarter 2023 Earnings Conference Call. Today's call will include forward-looking statements, including statements a ...
Eastern Bankshares(EBC) - 2023 Q2 - Quarterly Report
2023-08-02 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________ FORM 10-Q _____________________________________________ (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-39610 ___________________________ Eastern Bankshares, Inc. (Exact name ...
Eastern Bankshares(EBC) - 2023 Q2 - Earnings Call Transcript
2023-07-28 19:07
Eastern Bankshares, Inc. (NASDAQ:EBC) Q2 2023 Earnings Conference Call July 28, 2023 9:00 AM ET Company Participants Bob Rivers - Chair of the Board & Chief Executive Officer Jim Fitzgerald - Chief Administrative Officer, Chief Financial Officer & Treasurer-Eastern Bankshares, Inc.; Vice Chair, Chief Administrative Officer & Chief Financial Officer, Eastern Bank Conference Call Participants Damon DelMonte - KBW Mark Fitzgibbon - Piper Sandler Janet Lee - JPMorgan Operator Hello, and welcome to the Eastern B ...
Eastern Bankshares(EBC) - 2023 Q2 - Earnings Call Presentation
2023-07-28 15:28
Body text 074 / 075 / 076030 / 152 / 213 Q2 Earnings Presentation July 27 | 2023 Body text 074 / 075 / 076030 / 152 / 213 On the call 2 Q2 2023 financial highlights | --- | --- | --- | |-------------------------------------------|------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | Key Metrics | Highlights | | $48 ...
Eastern Bankshares(EBC) - 2023 Q1 - Quarterly Report
2023-05-07 16:00
PART I. FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Q1 2023 unaudited consolidated financial statements show a $194.1 million net loss, driven by a $333.2 million loss on securities sales, contrasting with $51.5 million net income in Q1 2022 [Unaudited Consolidated Balance Sheets](index=4&type=section&id=Unaudited%20Consolidated%20Balance%20Sheets) As of March 31, 2023, total assets remained stable at $22.72 billion, with a significant shift from securities to cash, while deposits decreased and borrowed funds increased Consolidated Balance Sheet Highlights (In thousands) | Account | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total Assets** | **$22,720,530** | **$22,646,858** | | Cash and cash equivalents | $2,137,816 | $169,505 | | Total securities | $5,171,319 | $7,167,425 | | Net loans | $13,520,715 | $13,420,317 | | Goodwill and other intangibles, net | $660,165 | $661,126 | | **Total Liabilities** | **$20,141,407** | **$20,175,068** | | Total deposits | $18,541,580 | $18,974,359 | | Total borrowed funds | $1,138,403 | $740,828 | | **Total Shareholders' Equity** | **$2,579,123** | **$2,471,790** | [Unaudited Consolidated Statements of Income](index=5&type=section&id=Unaudited%20Consolidated%20Statements%20of%20Income) Q1 2023 saw a net loss of $194.1 million, or ($1.20) per diluted share, primarily due to a $333.2 million loss on securities sales, despite increased net interest income Consolidated Income Statement Highlights (In thousands, except per share data) | Account | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Net interest income | $138,309 | $128,124 | | Provision for (release of) allowance for loan losses | $25 | $(485) | | Total noninterest (loss) income | $(278,330) | $46,415 | | *Losses on sales of securities available for sale, net* | *$(333,170)* | *$(2,172)* | | Total noninterest expense | $116,294 | $108,866 | | (Loss) income before income tax | $(256,340) | $66,158 | | **Net (loss) income** | **$(194,096)** | **$51,516** | | **Diluted (loss) earnings per share** | **$(1.20)** | **$0.30** | [Notes to Unaudited Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) Notes detail accounting policy changes, significant unrealized losses in securities, a $333.2 million realized loss from AFS sales, and stable loan portfolio credit quality - The company adopted ASU 2022-02 on January 1, 2023, which eliminated the accounting guidance for Troubled Debt Restructurings (TDRs) and enhanced disclosure requirements for loan modifications to borrowers experiencing financial difficulty[35](index=35&type=chunk)[36](index=36&type=chunk)[37](index=37&type=chunk) - In March 2023, the company pledged securities with a carrying value of **$2.6 billion** to the Federal Reserve's new Bank Term Funding Program (BTFP) to enhance liquidity[51](index=51&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=54&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the Q1 2023 net loss to a strategic balance sheet repositioning, improving liquidity and future earnings, while operating net income increased and capital ratios remained strong - The net loss of **$194.1 million** was primarily due to the sale of available-for-sale securities at a loss as part of a balance sheet repositioning completed in March 2023[256](index=256&type=chunk) - Operating net income (a non-GAAP measure) for Q1 2023 was **$61.1 million**, an increase of **10.9%** from **$55.1 million** in Q1 2022, primarily due to higher net interest income[256](index=256&type=chunk) - The company enhanced its liquidity position by selling **$1.9 billion** of AFS securities. As of March 31, 2023, total liquidity sources of **$7.1 billion** provided **107% coverage** of all customer uninsured and uncollateralized deposits[276](index=276&type=chunk)[277](index=277&type=chunk) [Financial Position](index=65&type=section&id=Financial%20Position) Total assets remained stable at $22.7 billion, with a shift from securities to cash, modest loan growth, and a decrease in total deposits to $18.5 billion Loan Portfolio Composition (In thousands) | Loan Category | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Commercial and industrial | $3,169,438 | $3,150,946 | | Commercial real estate | $5,201,196 | $5,155,323 | | Residential real estate | $2,497,491 | $2,460,849 | | Consumer home equity | $1,180,824 | $1,187,547 | | Other Portfolios | $1,626,301 | $1,620,866 | | **Total loans** | **$13,675,250** | **$13,575,531** | - Non-performing loans (NPLs) decreased to **$34.6 million** (**0.25%** of total loans) at March 31, 2023, from **$38.6 million** (**0.28%** of total loans) at December 31, 2022[316](index=316&type=chunk) - Total deposits decreased by **$432.8 million**, or **2.3%**, to **$18.5 billion**. The company's estimate of uninsured and uncollateralized deposits was **$6.7 billion**, or **36%** of total deposits[350](index=350&type=chunk)[351](index=351&type=chunk) [Results of Operations](index=75&type=section&id=Results%20of%20Operations) Q1 2023 results show a **$194.1 million** net loss, primarily due to a **$333.2 million** loss on securities sales, despite a **7.9%** increase in net interest income and expanded net interest margin Results of Operations Summary (In thousands) | Account | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Net interest income | $138,309 | $128,124 | | Provision for (release of) allowance for loan losses | $25 | $(485) | | Noninterest (loss) income | $(278,330) | $46,415 | | Noninterest expense | $116,294 | $108,866 | | **Net (loss) income** | **$(194,096)** | **$51,516** | - Net interest margin (FTE) increased by **24 basis points** to **2.66%** in Q1 2023 from **2.42%** in Q1 2022, driven by higher yields on interest-earning assets[367](index=367&type=chunk) - Noninterest income decreased by **$324.7 million**, primarily due to a **$331.0 million** increase in losses on sales of available-for-sale securities from the balance sheet repositioning[380](index=380&type=chunk) [Management of Market Risk](index=85&type=section&id=Management%20of%20Market%20Risk) The company's interest rate sensitivity improved, with a +200 basis point shock now estimated to decrease net interest income by **0.9%** over 12 months, down from **4.2%** Net Interest Income Sensitivity Analysis (Year 1) | Change in Interest Rates (bps) | % Change from Level (as of Mar 31, 2023) | % Change from Level (as of Dec 31, 2022) | | :--- | :--- | :--- | | +400 | (1.8)% | (8.4)% | | +200 | (0.9)% | (4.2)% | | -100 | 0.0% | 1.6% | | -200 | (1.8)% | 1.8% | [Liquidity, Capital Resources, Contractual Obligations, Commitments and Contingencies](index=87&type=section&id=Liquidity,%20Capital%20Resources,%20Contractual%20Obligations,%20Commitments%20and%20Contingencies) The company significantly bolstered liquidity to **$7.1 billion**, covering **107%** of uninsured deposits, and remains well-capitalized despite capital ratio decreases from AFS sales - Total liquidity sources were **$7.1 billion** as of March 31, 2023, comprising **$2.1 billion** in cash and **$5.0 billion** in secured borrowing capacity[415](index=415&type=chunk) - The company's liquidity sources provided **107% coverage** of all customer uninsured and uncollateralized deposits, which totaled **$6.7 billion** as of March 31, 2023[415](index=415&type=chunk) Regulatory Capital Ratios | Capital Ratio | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Common equity Tier 1 capital | 15.80% | 16.94% | | Tier 1 capital | 15.80% | 16.94% | | Total regulatory capital | 16.76% | 17.89% | | Tier 1 leverage | 11.09% | 12.03% | [Quantitative and Qualitative Disclosures about Market Risk](index=90&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This section refers to the 'Management of Market Risk' discussion in Item 2, detailing the company's interest rate risk exposure and measurement models - The required disclosures about market risk are provided in Part I, Item 2 under the heading 'Management of Market Risk'[428](index=428&type=chunk) [Controls and Procedures](index=90&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of March 31, 2023, with no material changes to internal controls - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the period covered by this report (March 31, 2023)[428](index=428&type=chunk) - No changes in internal controls over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[429](index=429&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=90&type=section&id=Item%201.%20Legal%20Proceedings) The company is not involved in any pending legal proceedings expected to materially affect its financial condition or operations - As of the report date, the company is not involved in any pending legal proceeding expected to be material to its financial condition or operations[432](index=432&type=chunk) [Risk Factors](index=91&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred to the risk factors previously disclosed in the company's 2022 Annual Report on Form 10-K - The company's risk factors have not changed materially from those disclosed in its 2022 Form 10-K[434](index=434&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=91&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the period - None reported[435](index=435&type=chunk) [Exhibits](index=92&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including CEO and CFO certifications and interactive data files - The report includes required certifications from the CEO and CFO (Exhibits 31.1, 31.2, 32.1, 32.2) and interactive data files (Exhibit 101)[442](index=442&type=chunk)
Eastern Bankshares(EBC) - 2023 Q1 - Earnings Call Transcript
2023-04-28 18:15
Eastern Bankshares, Inc. (NASDAQ:EBC) Q1 2023 Earnings Conference Call April 28, 2023 9:00 AM ET Company Participants Robert F. Rivers - Chairman and CEO James B. Fitzgerald - CAO, Treasurer, and CFO Conference Call Participants Damon DelMonte - Keefe, Bruyette, & Woods Janet Lee - J.P. Morgan Chase Operator Hello, and welcome to the Eastern Bankshares, Inc. First Quarter 2023 Earnings Conference Call. Today's call will include forward-looking statements, including statements about Eastern's future financia ...
Eastern Bankshares(EBC) - 2022 Q4 - Annual Report
2023-02-23 16:00
Commission File Number 001-39610 ___________________________ Eastern Bankshares, Inc. (Exact name of the registrant as specified in its charter) ___________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________ FORM 10-K _____________________________________________ (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2022 Or ☐ TRANSITION REPORT ...
Eastern Bankshares(EBC) - 2022 Q4 - Earnings Call Transcript
2023-01-27 16:12
Eastern Bankshares, Inc. (NASDAQ:EBC) Q4 2022 Earnings Conference Call January 27, 2023 9:00 AM ET Company Participants Robert F. Rivers - Chairman and CEO James B. Fitzgerald - CAO, Treasurer, and CFO Conference Call Participants Janet Lee - J.P. Morgan Chase Mark Fitzgibbon - Piper Sandler Laurie Hunsicker - Compass Point Research Damon DelMonte - Keefe, Bruyette, & Woods Operator Hello, and welcome to the Eastern Bankshares, Inc. Fourth Quarter 2022 Earnings Conference Call. Today's call will include for ...
Eastern Bankshares(EBC) - 2022 Q3 - Quarterly Report
2022-11-03 16:00
PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The unaudited consolidated financial statements for Q3 2022 show decreased total assets and equity, with net income growth driven by net interest income, following CECL adoption [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) The consolidated balance sheets show a decrease in total assets and shareholders' equity, primarily due to reduced cash and securities values, while net loans increased Consolidated Balance Sheet Highlights (Unaudited) | Metric | Sep 30, 2022 ($ thousands) | Dec 31, 2021 ($ thousands) | Change (%) | | :--- | :--- | :--- | :--- | | **Total Assets** | 22,042,933 | 23,512,128 | (6.2%) | | Cash and cash equivalents | 158,437 | 1,231,792 | (87.1%) | | Net Loans | 12,752,942 | 12,157,281 | 4.9% | | Total Securities | 7,326,578 | 8,511,224 | (13.9%) | | **Total Liabilities** | 19,626,770 | 20,105,776 | (2.4%) | | Total Deposits | 18,733,381 | 19,628,311 | (4.6%) | | **Total Shareholders' Equity** | 2,416,163 | 3,406,352 | (29.1%) | - Shareholders' equity decreased significantly by **29.1%** from year-end 2021, primarily due to a large increase in accumulated other comprehensive loss from **($56.7 million)** to **($978.8 million)**, reflecting the impact of rising interest rates on the fair value of available-for-sale securities[6](index=6&type=chunk) [Consolidated Statements of Income](index=7&type=section&id=Consolidated%20Statements%20of%20Income) The consolidated income statements show significant growth in net interest income and net income for both the quarter and nine-month periods Consolidated Income Statement Highlights (Unaudited) | Metric ($ thousands) | Q3 2022 | Q3 2021 | YoY Change (%) | 9 Months 2022 | 9 Months 2021 | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | 152,179 | 102,691 | 48.2% | 418,060 | 307,390 | 36.0% | | Provision for loan losses | 6,480 | (1,488) | N/A | 7,045 | (5,368) | N/A | | Noninterest Income | 43,353 | 43,209 | 0.3% | 131,645 | 144,154 | (8.7%) | | Noninterest Expense | 116,840 | 98,970 | 18.1% | 336,845 | 300,354 | 12.1% | | **Net Income** | **54,777** | **37,106** | **47.6%** | **157,465** | **119,578** | **31.7%** | | **Diluted EPS** | **$0.33** | **$0.22** | **50.0%** | **$0.94** | **$0.69** | **36.2%** | - The significant year-over-year growth in net income was primarily driven by a **48.2%** increase in net interest income for the third quarter, reflecting both organic growth and the impact of the Century acquisition[11](index=11&type=chunk) [Notes to Unaudited Consolidated Financial Statements](index=14&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) Key notes include the adoption of CECL, segment reporting for banking and insurance, and a probable non-cash settlement charge related to the Defined Benefit Plan - On January 1, 2022, the Company adopted the CECL accounting standard (ASU 2016-13), which replaced the incurred loss methodology. This resulted in a cumulative-effect adjustment that decreased retained earnings by **$20.1 million**, net of tax[31](index=31&type=chunk)[33](index=33&type=chunk) - The Company has two primary reportable segments: the banking business and the insurance agency business. For the nine months ended September 30, 2022, the banking business generated **$143.2 million** in net income, while the insurance agency business generated **$11.4 million**[289](index=289&type=chunk)[290](index=290&type=chunk) - Subsequent to the reporting period, management determined it is probable that a non-cash settlement charge between **$10.0 million** and **$15.0 million** will be recognized in Q4 2022 related to lump sum payments from the Defined Benefit Plan[291](index=291&type=chunk)[293](index=293&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=74&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management's discussion highlights increased net income from higher net interest income, driven by asset growth and rising rates, alongside loan portfolio growth, deposit decreases, and strong asset quality [Financial Position](index=85&type=section&id=Financial%20Position) The company's financial position shows growth in gross loans, a decrease in total deposits, an increase in the allowance for loan losses, and a reduction in the securities portfolio - Gross loans increased by **$622.4 million** (**5.1%**) to **$12.9 billion** at September 30, 2022, driven by growth in commercial real estate, retail, and commercial construction portfolios[364](index=364&type=chunk) - Total deposits decreased by **$894.9 million** (**4.6%**) to **$18.7 billion**, primarily due to runoff of higher-cost deposits from the Century acquisition, runoff of government stimulus funds, and the transfer of cannabis-related and money service business deposit relationships[415](index=415&type=chunk)[416](index=416&type=chunk) - The allowance for loan losses increased by **$33.9 million** to **$131.7 million**, mainly due to a **$27.1 million** one-time adjustment upon adopting the CECL accounting standard on January 1, 2022[398](index=398&type=chunk) - The securities portfolio decreased by **$1.2 billion** (**13.9%**) to **$7.3 billion**, largely due to a **$1.1 billion** decrease in the fair value of AFS securities caused by rising market interest rates[353](index=353&type=chunk)[354](index=354&type=chunk) [Results of Operations](index=98&type=section&id=Results%20of%20Operations) Results of operations show significant net interest income growth, a provision for loan losses, flat noninterest income, and increased noninterest expense - Net interest income for Q3 2022 increased **48.2%** year-over-year to **$152.2 million**, driven by asset growth from the Century acquisition and higher interest rates. The net interest margin expanded by **34 basis points** to **2.87%** in Q3 2022 compared to Q3 2021[422](index=422&type=chunk)[432](index=432&type=chunk)[436](index=436&type=chunk) - A provision for loan losses of **$6.5 million** was recorded in Q3 2022, compared to a release of **$1.5 million** in Q3 2021, reflecting increased loan balances[447](index=447&type=chunk) - Noninterest income was flat in Q3 2022 compared to Q3 2021, as increased insurance commissions and service charges were offset by losses from investments in rabbi trusts and lower gains on mortgage sales[450](index=450&type=chunk) - Noninterest expense rose **18.1%** in Q3 2022 year-over-year, primarily due to higher salaries and benefits related to the Century acquisition and new share-based compensation programs[456](index=456&type=chunk) [Management of Market Risk](index=111&type=section&id=Management%20of%20Market%20Risk) The company's market risk management focuses on interest rate sensitivity, with a shift in NII sensitivity profile due to hedging activities Net Interest Income (NII) Sensitivity Analysis | Change in Interest Rates (bps) | Estimated NII Change from Flat (as of Sep 30, 2022) | Estimated NII Change from Flat (as of Dec 31, 2021) | | :--- | :--- | :--- | | +400 | (2.5%) | 30.2% | | +300 | (2.0%) | 22.6% | | +200 | (1.3%) | 15.1% | | (100) | (2.3%) | (5.9%) | | (200) | (6.6%) | N/A | - The company's interest rate sensitivity profile has shifted. As of September 30, 2022, a **+200 bps** rate shock is projected to decrease NII by **1.3%**, whereas at year-end 2021 it was projected to increase NII by **15.1%**. This change is partly due to the extension of asset duration from the interest rate swap portfolio[488](index=488&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=116&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This section refers to the market risk discussion in Item 2, detailing interest rate risk and the shift in net interest income sensitivity due to hedging - The company's primary market risk is interest rate sensitivity. The disclosure for this item is contained within the Management's Discussion and Analysis section[509](index=509&type=chunk) [Item 4. Controls and Procedures](index=116&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of September 30, 2022, with no material changes to internal controls during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the period covered by the report[509](index=509&type=chunk) - No material changes in internal controls over financial reporting occurred during the quarter ended September 30, 2022[511](index=511&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=117&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any material legal proceedings, with previous overdraft fee matters settled in Q1 2022 - As of the filing date, the company is not involved in any legal proceedings expected to have a material effect on its financial condition[514](index=514&type=chunk) [Item 1A. Risk Factors](index=117&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors, except for a revised risk concerning potential increases in FDIC insurance assessment rates - A risk factor was revised to address the October 2020 FDIC decision to increase initial base deposit insurance assessment rates by **2 basis points**, effective in the first quarter of 2023, which could increase expenses[515](index=515&type=chunk)[516](index=516&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=117&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company completed its 2021 share repurchase program in Q3 2022 and initiated a new program authorizing the purchase of up to 8.9 million shares - The company completed its 2021 share repurchase program during Q3 2022[518](index=518&type=chunk) - A new share repurchase program was announced on September 7, 2022, authorizing the purchase of up to **8.9 million shares** through August 31, 2023, limited to **$200.0 million**[518](index=518&type=chunk)
Eastern Bankshares(EBC) - 2022 Q3 - Earnings Call Transcript
2022-10-28 19:26
Eastern Bankshares, Inc. (NASDAQ:EBC) Q3 2022 Earnings Conference Call October 28, 2022 9:00 AM ET Company Participants Bob Rivers - Chairman and CEO Jim Fitzgerald - Chief Administrative Officer and CFO Conference Call Participants Mark Fitzgibbon - Piper Sandler Damon DelMonte - KBW Laurie Hunsicker - Compass Point Research Operator Hello, and welcome to the Eastern Bankshares, Inc. Third Quarter 2022 Earnings Conference Call. Today's call will include forward-looking statements, including statements abou ...