Eastern Bankshares reports Q2 operating EPS 41c, consensus 38c

Net interest margin on a fully tax equivalent basis expanded 21 basis points to 3.59%, primarily due to higher asset yields. Net interest income was $202.0 million, an increase of $13.1 million from the first quarter. Book value per share and tangible book value per share ended the quarter at $17.42 and $12.53, respectively. Reports CET1 ratio 14.38%. “Our second quarter results underscore the strength of our franchise and a leading market position in the Greater Boston area,” said Bob Rivers, Executive Chair and Chair of the Board of Directors. “As we’ve spent more time with our future colleagues at HarborOne, our confidence in the opportunities and long-term value creation this combination provides has only deepened. Integration planning is well underway, and we are focused on delivering a seamless transition for customers, communities, and employees.”