Eastern Bankshares(EBC) - 2025 Q4 - Earnings Call Presentation

Financial Performance Highlights - Net income for Q4 2025 was $99.5 million[5, 12] - Operating net income* for Q4 2025 was $94.7 million[5, 12] - Diluted EPS was $0.46, while diluted operating EPS* was $0.44[5] - Net Interest Margin (NIM*) was 3.61%, and the total deposit cost was 1.59%[5] - Declared dividend of $0.13 per share[6] Balance Sheet and Capital Management - Book Value (BV) per share was $18.42, and Tangible Book Value (TBV) per share* was $12.90[6] - Repurchased 3.1 million shares of common stock for $55.4 million in Q4 2025, representing 26% of the authorized share repurchase program[8] - The company's Wealth assets reached a record high of $10.1 billion, including $9.6 billion of assets under management[10] Income Statement Analysis - Net interest income increased to $237.4 million in Q4 2025 from $200.2 million in Q3 2025[12] - Noninterest income was $46.1 million in Q4 2025[12] - Noninterest expense was $189.4 million in Q4 2025[12] - Operating net income increased by $20.6 million, or 28%, compared to the linked quarter[10] Asset Quality and Loan Portfolio - Non-performing loans increased by $103.1 million to $172.3 million, representing 0.75% of total loans, primarily due to the HarborOne merger[10] - Allowance for loan losses was $332 million, or 1.44% of total loans at year-end, compared to $233 million, or 1.26% at the end of Q3 2025[10] - Period-end loans increased by $4.7 billion, or 25%, linked quarter, primarily due to the addition of HarborOne loans[59] Deposits - Period-end deposits increased by $4.4 billion, or 21%, linked quarter, primarily due to the addition of $4.3 billion of HarborOne deposits[53] - Total deposits were $24.263 billion with a total deposit cost of 1.59%[27] Commercial Real Estate (CRE) Exposure - CRE portfolio totaled $9.5 billion, representing 40% of total loans[86] - Non-performing CRE loans were $121 million, or 1.3% of total CRE loans[86] HarborOne Merger - The deal value for the HarborOne merger was $550 million[94] - Expect annual cost savings of ~$55 million, or ~40%, mostly achieved by Q2 2026[94]