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Eastern Bankshares, Inc. (EBC) 10-Year Financial Performance & Capital Metrics

EBC • • Banking & Credit
Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks
AboutEastern Bankshares, Inc. operates as the bank holding company for Eastern Bank that provides banking products and services primarily to retail, commercial, and small business customers. It operates in two segments, Banking Business and Insurance Agency Business. The company provides interest-bearing and non interest-bearing checking deposits, money market deposits, savings deposits, and time certificates of deposits, as well as debit and credit cards. It also offers commercial and industrial loans, commercial real estate and construction loans, small business loans, residential real estate loans, home equity, and lines of credit, as well as other consumer loans comprising unsecured personal lines of credit, overdraft protection, automobile loans, home improvement loans, airplane loans, and other personal loans. In addition, the company provides cash reserves, cash management, merchant, escrow express, government banking, international banking, interest on lawyers trust accounts, retirement planning, and business telephone banking services, as well as products and services for not-for-profit and healthcare. Further, it offers trust and investment products and services; community development and asset-based lending services; financial planning, portfolio management, wealth management, private banking, and fiduciary products; online, mobile, and telephone banking services; and automated lock box collection and account reconciliation services, as well as various insurance products. As of December 31, 2021, the company operated 105 branch offices in eastern Massachusetts and southern New Hampshire; and 23 non-branch offices in eastern Massachusetts, one office in New Hampshire, and one office in Rhode Island. Eastern Bankshares, Inc. was founded in 1818 and is headquartered in Boston, Massachusetts.Show more
  • Net Interest Income $608M +10.4%
  • Total Revenue $1.07B +91.6%
  • Net Income $120M -48.5%
  • Return on Equity 3.63% -57.4%
  • Net Interest Margin 2.38% -8.7%
  • Efficiency Ratio 47.48% -36.6%
  • ROA 0.51% -51.7%
  • Equity / Assets 14.13% +0.4%
  • Book Value per Share 19.83 +8.2%
  • Tangible BV/Share 14.06 -5.2%
  • Debt/Equity 0.01 -6.0%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Efficient operations: 47.5% efficiency ratio
  • ✓Well capitalized: 14.1% equity/assets
  • ✓Healthy dividend yield of 2.4%
  • ✓Trading at only 1.0x book value

✗Weaknesses

  • ✗Shares diluted 12.2% in last year

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y11.45%
3Y26.94%
TTM-

Profit (Net Income) CAGR

10Y-
5Y-2.41%
3Y-8.22%
TTM-86.89%

EPS CAGR

10Y-
5Y0.62%
3Y-9.82%
TTM-89.69%

ROCE

10Y Avg4.6%
5Y Avg2.58%
3Y Avg2.36%
Latest3.99%

Peer Comparison

Northeast Community Banks
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Size & Scale
Valuation
Per Share
Growth
Profitability
Quality & Returns
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Momentum & Returns
Total Return (DRIP)
Technical
Volume & Trading
Shares & Dilution
Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
DCOMDime Community Bancshares, Inc.1.32B30.1154.750.1%4.5%4.02%7.02%0.70
EBCEastern Bankshares, Inc.4.28B19.0428.8591.64%11.17%1.3%6.31%0.01
LYGLloyds Banking Group plc80.35B5.4721.8810.79%11.75%9.93%1.76
CFGCitizens Financial Group, Inc.25.74B59.9319.781.31%12.22%6.6%7.3%0.51
PFSProvident Financial Services, Inc.2.59B19.8518.9063.91%10.13%7.51%16.39%0.93
CBUCommunity Bank System, Inc.3.23B61.2917.8224.44%19.4%10.34%6.86%0.57
VLYValley National Bancorp6.54B11.73176.51%10.65%6.53%8.39%0.50
INDBIndependent Bank Corp.3.71B74.8116.556.89%19.72%7.76%5.65%0.23

Profit & Loss

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Net Interest Income+390.04M411.26M401.25M429.83M568.05M550.41M607.6M
NII Growth %-0.05%-0.02%0.07%0.32%-0.03%0.1%
Net Interest Margin %-------
Interest Income415.17M445.02M413.33M435.16M605.18M796.46M946.77M
Interest Expense25.12M33.75M12.08M5.33M37.13M246.05M339.17M
Loan Loss Provision15.1M6.3M38.8M-9.69M17.93M20.05M67.38M
Non-Interest Income+176.74M177.71M169.19M88.32M76.75M-237.75M123.92M
Non-Interest Income %-------
Total Revenue+591.91M622.72M582.52M523.48M681.93M558.71M1.07B
Revenue Growth %-0.05%-0.06%-0.1%0.3%-0.18%0.92%
Non-Interest Expense394.08M408.09M495.74M351.84M388.65M418.6M508.37M
Efficiency Ratio-------
Operating Income+157.61M174.58M35.9M176M238.23M-126M155.77M
Operating Margin %-------
Operating Income Growth %-0.11%-0.79%3.9%0.35%-1.53%2.24%
Pretax Income+157.61M174.58M35.9M176M238.23M-126M155.77M
Pretax Margin %-------
Income Tax+34.88M39.48M13.16M30.46M51.72M-63.31M36.2M
Effective Tax Rate %-------
Net Income+122.73M135.1M22.74M154.66M199.76M232.18M119.56M
Net Margin %-------
Net Income Growth %-0.1%-0.83%5.8%0.29%0.16%-0.49%
Net Income (Continuing)122.73M135.1M22.74M145.53M186.51M-62.69M119.56M
EPS (Diluted)+0.580.640.130.901.211.430.66
EPS Growth %-0.1%-0.8%5.92%0.34%0.18%-0.54%
EPS (Basic)0.580.640.130.901.211.430.66
Diluted Shares Outstanding210.09M210.09M171.81M172.25M165.65M162.4M182.18M

Balance Sheet

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash & Short Term Investments+1000K1000K1000K1000K1000K1000K1000K
Cash & Due from Banks259.71M362.6M2.05B1.23B169.5M693.08M1.01B
Short Term Investments1000K1000K1000K1000K1000K1000K1000K
Total Investments+10.23B10.41B12.78B20.68B20.72B18.66B21.99B
Investments Growth %-0.02%0.23%0.62%0%-0.1%0.18%
Long-Term Investments8.77B8.9B9.6B12.17B14.03B14.25B17.97B
Accounts Receivables0000000
Goodwill & Intangibles+-------
Goodwill369.03M369.03M369.48M631.5M557.63M557.63M914.96M
Intangible Assets12.24M8.7M7.06M18.21M10.37M8.57M135.2M
PP&E (Net)66.47M56.57M48.67M65.86M62.66M60.13M64.55M
Other Assets341.46M334M543.32M624.07M629.02M706.87M878.04M
Total Current Assets1.78B1.93B5.39B9.92B7.03B5.28B5.26B
Total Non-Current Assets9.6B9.7B10.58B13.59B15.62B15.85B20.3B
Total Assets+11.38B11.63B15.96B23.51B22.65B21.13B25.56B
Asset Growth %-0.02%0.37%0.47%-0.04%-0.07%0.21%
Return on Assets (ROA)0.01%0.01%0%0.01%0.01%0.01%0.01%
Accounts Payable0000000
Total Debt+320.94M235.4M28.05M34.28M726.4M39.72M45.31M
Net Debt61.23M-127.21M-2.03B-1.2B556.89M-653.36M-961.57M
Long-Term Debt14.88M15.35M28.05M34.26M35.1M39.62M42.8M
Short-Term Debt306.06M220.05M017K691.3M95K2.52M
Other Liabilities224.72M241.84M352.31M443.19M474.31M522.49M608.98M
Total Current Liabilities9.71B9.77B12.16B19.63B19.67B17.6B21.29B
Total Non-Current Liabilities239.59M257.18M380.35M477.45M509.41M562.11M651.78M
Total Liabilities9.95B10.03B12.54B20.11B20.18B18.16B21.95B
Total Equity+1.43B1.6B3.43B3.41B2.47B2.97B3.61B
Equity Growth %-0.12%1.14%-0.01%-0.27%0.2%0.21%
Equity / Assets (Capital Ratio)-------
Return on Equity (ROE)0.09%0.09%0.01%0.05%0.07%0.09%0.04%
Book Value per Share6.827.6219.9519.7814.9218.3219.83
Tangible BV per Share-------
Common Stock001.87M1.86M1.76M1.77M2.14M
Additional Paid-in Capital001.85B1.84B1.65B1.67B2.24B
Retained Earnings1.51B1.64B1.67B1.77B1.88B2.05B2.08B
Accumulated OCI-75.76M-43.85M54.23M-56.7M-923.19M-608.35M-584.33M
Treasury Stock0000000
Preferred Stock0000000

Cash Flow

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+205.01M196.22M69.85M174.49M229.94M261.69M284.22M
Operating CF Growth %--0.04%-0.64%1.5%0.32%0.14%0.09%
Net Income122.73M135.1M22.74M145.53M186.51M-62.69M119.56M
Depreciation & Amortization20.07M19.48M27.91M22.88M23.42M23.64M38.38M
Deferred Taxes-4.88M1.38M-20.36M-5.66M5.26M-18.27M36.06M
Other Non-Cash Items22.26M10.64M102.05M-45M40.71M263.52M69.38M
Working Capital Changes44.83M29.63M-64.83M47.33M-46.38M32.3M-5.78M
Cash from Investing+-647.1M-145.27M-2.39B-1.99B-1.08B2.4B1.06B
Purchase of Investments-171M-257.12M-2.13B-3.34B-1.25B-37.66M-269.09M
Sale/Maturity of Investments1000K1000K1000K1000K1000K1000K1000K
Net Investment Activity-------
Acquisitions-10.93M0-1.36M-9.09M0024.88M
Other Investing-630.24M-133.02M-716.63M403.49M-1.31B95.06M-166.29M
Cash from Financing+390.65M51.95M4.01B988.98M-215.57M-2.14B-1.03B
Dividends Paid000-51.56M-65.89M-66.67M-82.54M
Share Repurchases0-346K-28.55M-23.22M-201.62M0-27.68M
Stock Issued001.79B0000
Net Stock Activity-------
Debt Issuance (Net)-1000K-1000K-1000K-1000K1000K-1000K-1000K
Other Financing582.87M151.18M2.45B1.1B-654.62M-1.38B-179.26M
Net Change in Cash+-51.45M102.89M1.69B-822.28M-1.06B523.57M313.8M
Exchange Rate Effect0000000
Cash at Beginning311.15M259.71M362.6M2.05B1.23B169.5M693.08M
Cash at End259.71M362.6M2.05B1.23B169.5M693.08M1.01B
Interest Paid23.73M34.22M13.68M5.35M35.24M231.76M316.13M
Income Taxes Paid29.73M31.31M35.13M43.3M41.75M65.92M18.79M
Free Cash Flow+195.97M189.04M64.71M168.76M221.31M253.55M270.3M
FCF Growth %--0.04%-0.66%1.61%0.31%0.15%0.07%

Banking Ratios

Metric2018201920202021202220232024
Return on Equity (ROE)8.56%8.91%0.9%4.53%6.8%8.53%3.63%
Return on Assets (ROA)1.08%1.17%0.16%0.78%0.87%1.06%0.51%
Net Interest Margin3.43%3.54%2.51%1.83%2.51%2.6%2.38%
Efficiency Ratio66.58%65.53%85.1%67.21%56.99%74.92%47.48%
Equity / Assets12.6%13.76%21.47%14.49%10.91%14.08%14.13%
Book Value / Share6.827.6219.9519.7814.9218.3219.83
NII Growth-5.44%-2.43%7.12%32.16%-3.11%10.39%
Dividend Payout---33.34%32.98%28.72%69.04%

Revenue by Segment

20202021202220232024
Trust And Investment Advisory Fees21.1M24.59M23.59M24.26M46.13M
Trust And Investment Advisory Fees Growth-16.52%-4.05%2.84%90.10%
Service Charge On Deposit Accounts21.56M24.27M30.39M28.63M32M
Service Charge On Deposit Accounts Growth-12.57%25.22%-5.79%11.78%
Other Non-interest Income7.31M8.52M10.72M10.5M20.31M
Other Non-interest Income Growth-16.47%25.92%-2.05%93.41%
Debt Card Processing Fees10.28M12.12M12.64M13.47M14.18M
Debt Card Processing Fees Growth-17.91%4.34%6.52%5.26%
Insurance Commissions94.5M94.7M99.23M--
Insurance Commissions Growth-0.22%4.78%--

Frequently Asked Questions

Valuation & Price

Eastern Bankshares, Inc. (EBC) has a price-to-earnings (P/E) ratio of 28.8x. This suggests investors expect higher future growth.

Growth & Financials

Eastern Bankshares, Inc. (EBC) grew revenue by 91.6% over the past year. This is strong growth.

Yes, Eastern Bankshares, Inc. (EBC) is profitable, generating $49.5M in net income for fiscal year 2024 (11.2% net margin).

Dividend & Returns

Yes, Eastern Bankshares, Inc. (EBC) pays a dividend with a yield of 2.38%. This makes it attractive for income-focused investors.

Eastern Bankshares, Inc. (EBC) has a return on equity (ROE) of 3.6%. This is below average, suggesting room for improvement.

Industry Metrics

Eastern Bankshares, Inc. (EBC) has a net interest margin (NIM) of 2.4%. NIM has been under pressure due to interest rate environment.

Eastern Bankshares, Inc. (EBC) has an efficiency ratio of 47.5%. This is excellent, indicating strong cost control.

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