Eastern Bankshares

EBC · Nasdaq · Financials · Financials, fiscal 2018 to 2025

EBC · Last close · November 6, 2026

$22.84

Eastern Bankshares' revenue fell 1.2% to $723 million in fiscal 2025. Net income was $88 million, down 26.2%. Its return on equity was 2.2%, down from 3.6% a year earlier. Its efficiency ratio was 82.6%, up from 69.5% a year earlier. It paid out $212 million in dividends and buybacks. The diluted share count rose 12.2%.

Eastern Bankshares, Inc. Latest fiscal year ended December 31, 2025 10-K filed March 2, 2026 · 0001628280-26-013126 Updated November 6, 2026

Revenue

$723M

1.2%

Net income

$88M

26.2%

Return on equity

2.2%

1.4 pts

Return on tangible equity

3.0%

1.7 pts

Efficiency ratio

82.6%

13.1 pts

Market cap

$5.0B

Nov 6 close

P/E

12.9x

On $1.77 EPS, 4 qtrs

Return on equity is net income as a share of shareholders' equity; return on tangible equity leaves out goodwill and other intangible assets. The efficiency ratio is operating costs as a share of revenue, so lower means the bank spends less to earn each dollar. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

Charts show fiscal years, from the 10-K filings.

What Eastern Bankshares does

Eastern Bankshares is a bank holding company based in Boston, Massachusetts. Its only direct subsidiary is Eastern Bank, a Massachusetts-chartered bank founded in 1818. Through the bank it offers lending, deposit, and trust and wealth management services.

It makes money mainly by lending the deposits it gathers through its branch network. Its loans include commercial and industrial loans (among them asset-based lending), commercial real estate, commercial construction, small business, residential real estate and home equity loans. Deposit products include checking, money market and savings accounts and certificates of deposit.

Through Cambridge Trust Wealth Management, a division of the bank, it provides wealth management and trust services. It also offers lock box collection, cash management and account reconciliation services to corporate and institutional customers, and cash management to municipal clients. Federal and state banking regulators supervise it, and it has recently acquired HarborOne.

Its biggest risks, as it describes them

Changes in interest rates could hurt its profits and financial condition.
If its set-aside for loan losses is too small, its earnings and capital could fall.
Its loans are concentrated in one region, so a local downturn could hurt it.
It may not gain the expected benefits from the HarborOne deal, or may struggle to integrate it.
Harm to its reputation could cost it customers, investors and employees.

From Eastern Bankshares's annual report on Form 10-K, filed March 2, 2026, in our words; the 10-K has the full description and every risk factor. Updated with each new annual report.

Income statement

Revenue and net income

US$ billions, fiscal years; net losses in red. Revenue on the left axis, net income on the right; zero is the same line on both. Revenue is net of interest expense.

Revenue (left axis)Net income (right axis)

Efficiency ratio and net interest income

Percent of revenue. The efficiency ratio is noninterest expense over revenue.

Efficiency ratioNet interest income share

From fiscal 2020 to 2025, earnings per share grew 27.0% a year and net income 31.2% a year, as new shares raised the share count by 19% and diluted each share's earnings.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Return on equity

Percent. Net income over average equity; tangible equity excludes goodwill, intangibles and preferred stock.

Return on equityReturn on tangible common equity

Balance sheet

Loans and deposits

US$ billions, at each fiscal year end

Loans, netDeposits

Total assets and shareholders' equity

US$ billions, at each fiscal year end. Assets on the left axis, equity on the right.

Total assets (left axis)Equity (right axis)

Five years at a glance

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Loans, net	12,157	13,420	13,799	17,549	22,753
Deposits	19,628	18,974	17,596	21,319	25,471
Loans to deposits	61.9%	70.7%	78.4%	82.3%	89.3%
Provision for credit losses	−10	18	20	67	26
Provision to average loans	−0.1%	0.1%	0.1%	0.4%	0.1%
Total assets	23,512	22,647	21,133	25,558	30,587
Shareholders' equity	3,406	2,472	2,975	3,612	4,341

US$ millions unless stated, at each fiscal year end.

Cash flow

Stock-based compensation and buybacks

US$ billions, fiscal years. Shares paid to employees (stock-based compensation, a cost that uses no cash) against cash spent buying shares back. Buybacks that only match it leave the share count roughly where it was.

Stock-based compensationShare buybacks

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Projections

Project Eastern Bankshares' revenue, net income and earnings per share five years ahead in a bull, a base and a bear case with your own figures, and see the share prices your P/E estimates give them. Every projected figure is yours: it is not a forecast of ours.

Open Eastern Bankshares' projections

Insider trades

Over the 12 months between November 7, 2025 and November 6, 2026, 1 insider bought $188,100 of Eastern Bankshares shares on the open market, and 7 insiders sold $9.4 million, $1.2 million of it under trading plans set up in advance.

Buys and sells by month

US$ millions, open-market purchases (up) and sales (down) by officers, directors and 10% owners in each month.

BoughtSold

Date	Insider	Trade	Shares	Price	Value	Filing
Sep 14, 2026	Richard Corey BaneDirector	Sold	4,000	$21.78	$87,120	Form 4
Sep 2, 2026	Kathleen Cloherty HenryExecutive VP, General Counsel	Sold	14,000	$21.68	$303,520	Form 4
Sep 1, 2026	Donald Michael WestermannChief Information Officer	Sold	33,412	$21.54	$719,558	Form 4
Sep 1, 2026	Steven Louis AntonakesExecutive VP	Sold	13,500	$21.95	$296,325	Form 4
Aug 25, 2026	Joseph F CaseyDirector	Sold plan	1,778	$22.69	$40,343	Form 4
Aug 24, 2026	Joseph F CaseyDirector	Sold plan	10,000	$22.72	$227,200	Form 4
Aug 21, 2026	Joseph F CaseyDirector	Sold plan	10,000	$22.96	$229,600	Form 4
Aug 20, 2026	Joseph F CaseyDirector	Sold plan	10,000	$22.88	$228,800	Form 4
Aug 19, 2026	Joseph F CaseyDirector	Sold plan	10,000	$23.62	$236,200	Form 4
Jul 6, 2026	Luis BorgenDirector	Sold plan	1,710	$22.71	$38,834	Form 4
Jun 29, 2026	Luis BorgenDirector	Sold plan	1,709	$21.97	$37,547	Form 4
Mar 6, 2026	Rosato R DavidChief Financial Officer	Bought	5,000	$18.45	$92,250	Form 4

The latest 12 of 18 trades. Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Compare

Put Eastern Bankshares side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Net margin	Return on equity	Return on tangible equity	Efficiency ratio	Compare
Eastern Bankshares	FY25	−1.2%	12.2%	2.2%	3.0%	82.6%
WaFd	FY25	0.6%	31.2%	7.5%	9.2%	58.9%	Compare
Bank of Hawaii	FY25	12.1%	28.7%	11.7%	10.7%	61.8%	Compare
Bancorp	FY25	31.9%	32.4%	30.9%	30.9%	31.7%	Compare
NBT Bancorp	FY25	20.8%	24.3%	9.9%	13.5%	63.9%	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly.

8 years of figures

Fiscal year	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	571	594	580	527	645	313	732	723
Revenue growth	—	4.0%	−2.4%	−9.0%	22.3%	−51.5%	134.0%	−1.2%
Net interest income	390	411	401	430	568	550	608	829
Noninterest income	181	182	178	97	77	−238	124	−106
Noninterest expense	398	413	505	361	389	419	508	597
Provision for credit losses	15	6	39	−10	18	20	67	26
Net income	123	135	23	155	200	232	120	88
Diluted EPS (US$)	0.00	0.00	0.13	0.90	1.21	1.43	0.66	0.43
Diluted shares (millions)	0	0	172	172	166	162	182	204
Payouts
Dividends paid	0	0	0	52	66	67	82	106
Share buybacks	0	0	0	23	202	0	28	107
Balance sheet at fiscal year end
Loans, net	—	—	9,594	12,157	13,420	13,799	17,549	22,753
Deposits	—	9,551	12,156	19,628	18,974	17,596	21,319	25,471
Total assets	11,378	11,629	15,964	23,512	22,647	21,133	25,558	30,587
Shareholders' equity	1,433	1,600	3,428	3,406	2,472	2,975	3,612	4,341
Ratios
Return on equity	—	8.9%	0.9%	4.5%	6.8%	8.5%	3.6%	2.2%
Return on tangible common equity	—	11.8%	1.1%	5.2%	8.4%	10.7%	4.7%	3.0%
Return on assets	—	1.2%	0.2%	0.8%	0.9%	1.1%	0.5%	0.3%
Efficiency ratio	69.7%	69.5%	87.1%	68.5%	60.3%	133.9%	69.5%	82.6%

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: Eastern Bankshares' Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with Eastern Bankshares.