Eastern Bankshares reports Q3 operating EPS 37c, consensus 40c

“Eastern has undergone an impressive transformation since our IPO, positioning us well to execute on opportunities to drive organic growth and profitability, and to deliver for our shareholders,” said Denis Sheahan, Chief Executive Officer. “The Management team and the Board have built Eastern into a dense and geographically compact franchise with the scale to compete with larger banks, while remaining community-focused so that we can continue to deliver an exceptional customer experience. Our third quarter performance reflects this focus, with robust loan growth, significantly improved year-over-year profitability metrics, and record Wealth Management assets under management. We also received all required regulatory approvals for our merger with HarborOne, creating the leading $30 billion community bank in Greater Boston through a financially compelling transaction that will deliver meaningful earnings accretion for our shareholders.”