Eastern Bankshares Files 8-K on Financials

TL;DR

EBK filed an 8-K on 7/25 detailing financial results and other events.

AI Summary

Eastern Bankshares, Inc. filed an 8-K on July 25, 2024, to report on its results of operations and financial condition. The filing also includes disclosures related to Regulation FD, other events, and financial statements and exhibits. The company is a federally chartered savings institution based in Boston, Massachusetts.

Why It Matters

This 8-K filing provides crucial updates on Eastern Bankshares' financial performance and operational status, which can influence investor decisions.

Risk Assessment

Risk Level: low — This is a routine 8-K filing for financial reporting and does not indicate any unusual or high-risk events.

Key Players & Entities

• Eastern Bankshares, Inc. (company) — Registrant
• July 25, 2024 (date) — Date of Report
• Boston, Massachusetts (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.11 — of a regular quarterly cash dividend of $0.11 per share payable on September 16, 2024
• $200 m — tock as of July 12, 2024, not to exceed $200 million, over a 12-month period. The purc

Filing Documents

• ebc-20240725.htm (8-K) — 32KB
• ebc-20240630xq22024earning.htm (EX-99.1) — 975KB
• 0001628280-24-032992.txt ( ) — 1183KB
• ebc-20240725.xsd (EX-101.SCH) — 2KB
• ebc-20240725_lab.xml (EX-101.LAB) — 21KB
• ebc-20240725_pre.xml (EX-101.PRE) — 12KB
• ebc-20240725_htm.xml (XML) — 3KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On July 25, 2024, Eastern Bankshares, Inc., a Massachusetts corporation (the "Company") and the stock holding company for Eastern Bank, issued a press release in which it announced its earnings for the quarter ended June 30, 2024. A copy of the press release is furnished herewith as Exhibit 99.1.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. In the press release announcing the Company's earnings for the quarter ended June 30, 2024, the Company announced the approval by its Board of Directors of a regular quarterly cash dividend of $0.11 per share payable on September 16, 2024 to shareholders of record as of the close of business on September 3, 2024. In connection with issuing such press release, the Company posted an investor presentation in the "Presentations" section of the Company's investor relations website at investor.easternbank.com on July 25, 2024.

01 Other Events

Item 8.01 Other Events. In the press release announcing the Company's earnings for the quarter ended June 30, 2024, the Company also announced that its Board of Directors has approved a new share repurchase program that authorizes the Company to purchase up to 10.8 million shares, or 5% of the Company's outstanding shares of common stock as of July 12, 2024, not to exceed $200 million, over a 12-month period. The purchases may occur in open market or privately negotiated transactions. On July 19, 2024, the Company received notice of non-objection from the Board of Governors of the Federal Reserve System for the share repurchase program. The Company does not anticipate that the share repurchases will begin before early August 2024.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Description 99.1 Press release dated July 25, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. EASTERN BANKSHARES, INC. DATE: July 25, 2024 By: /s/ James B. Fitzgerald James B. Fitzgerald Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR