Eastern Bankshares(US:EBC)2025-04-25 23:38Q1 2025 Financial Performance - The company reported a net loss of $217.7 million, or $1.08 per diluted share, primarily due to the sale of $1.3 billion of low-yielding available-for-sale (AFS) securities[5,7] - Operating net income reached $67.5 million, or $0.34 per diluted share[5,7] - Net interest margin (NIM) expanded by 33 basis points to 3.38%[5,7] Asset Quality and Capital - Non-performing loans (NPLs) decreased to $91.6 million, representing 0.51% of total loans, an improvement from $135.8 million, or 0.76% at year-end 2024[5,7] - The company's CET1 ratio stood at 14.2% and allowance coverage to total loans was 1.25%[5,7,67] - The company repurchased 2.9 million shares for $48.7 million at a weighted average price of $16.62 per share[7] Deposits and Loans - Total deposits decreased by $636 million linked-quarter to $20.828 billion, with 50% in checking accounts[25,46,53] - Total loans increased by $125 million linked quarter, or 3% annualized[57] - The CRE portfolio totaled $7.2 billion, representing 39% of total loans[87] Merger with HarborOne - The company announced a merger with HarborOne, a transaction valued at $490 million[137,154] - The merger is expected to result in approximately 16% EPS accretion in 2026[137,156] - The company anticipates cost savings of approximately $55 million, representing about 40% of HarborOne's operating non-interest expenses[154,166]