AI-extracted from the 10-Q filed 2026-08-07 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Eastern Bankshares grew net interest income 24.7% YoY to $251.9M and net income to $105.2M in Q2 FY2026, aided by the HarborOne merger, while potential problem loans rose 28.4% and allowance coverage of non-accrual loans fell to 297% from 424% YoY.
Biggest Revenue Drivers
Investment advisory fees$19.7M+14.0% YoY
Asset management/custody fees based on a percentage of the monthly valuation of customer account assets, plus growth in wealth management services.
Service charges on deposit accounts$10.0M+21.8% YoY
Fees from deposit account access and transactional services, including cash management offerings.
Biggest Revenue Drivers
Total revenue: $38.7M+18.8% YoY
Investment advisory fees$19.7M+14.0% YoY
Asset management/custody fees based on a percentage of the monthly valuation of customer account assets, plus growth in wealth management services.
Service charges on deposit accounts$10.0M+21.8% YoY
Fees from deposit account access and transactional services, including cash management offerings.
Card income$6.0M+42.7% YoY
Debit card interchange revenue earned as transactions settle through card payment networks.
Other noninterest income (ASC 606)$2.9M+3.8% YoY
Includes safe deposit rent, ATM surcharge fees and customer checkbook fees.
Largest Expense Items
Salaries and employee benefits$97.0M+20.2% YoY
Increase in salary, wage and incentive expenses driven by higher headcount from the HarborOne merger plus regular employee wage increases.
Technology and data processing$23.7M+29.1% YoY
Higher cybersecurity software spend and increased core data processing costs from a larger number of accounts following the HarborOne merger.
Occupancy and equipment$13.2M+18.0% YoY
Increase attributable to expanded branch footprint and operations following the HarborOne merger.
Amortization of intangible assets$11.6M+49.1% YoY
Increase in intangible assets recorded in connection with the HarborOne merger drove higher amortization expense.
Margins: Net interest margin (FTE) rose 7 bps YoY to 3.66% as growth in average interest-earning asset balances and yields outpaced growth in interest-bearing liabilities; GAAP efficiency ratio improved to 54.26% from 55.93% a year earlier.
Watch Items from the Filing
Allowance for loan losses as a percent of non-accrual loans fell to 297.45% at June 30, 2026 from 424.25% a year earlier, even as the dollar allowance declined to $325.4M.
Potential problem loans increased 28.4% to $531.3M (2.3% of total loans) at June 30, 2026 from $413.7M (1.8%) at December 31, 2025.
Estimated total uninsured deposits were $10.9 billion, roughly 42% of the bank's $25.9 billion in total deposits.
Office-related CRE loans totaled $1.2 billion, with 87.1% concentrated in Massachusetts and eight loans ($7.2M) on non-accrual status, up from four loans at year-end 2025.
Operating net income rose 30.4% YoY to $106.5M, reflecting higher net interest income from the HarborOne acquisition partially offset by higher operating noninterest expense.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Williams Linda MarieReporting ownerGrant or award · May 18, 2026
About Eastern Bankshares, Inc. (EBC): stock profile, AI score and financials
Eastern Bankshares, Inc. (EBC) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores EBC at 68.1/100 on a composite quality score built from its SEC filings, placing it at rank #325 of 2,925 stocks — the top 25% of the AI-ranked universe. EBC scores in the top quartile across profitability (94.2), institutional flow (91.5), revenue growth (89.6). Areas of concern include earnings quality (38.9), which score below median versus the broader universe. Shareholder dilution risk is elevated at 13.2/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Eastern Bankshares, Inc. reports quarterly revenue of $309.5M, net income of $105.2M, an operating margin of 43.6%. Top institutional holders of EBC by reported 13-F value include BlackRock, FMR, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. EBC trades on the Nasdaq exchange and files with the SEC under CIK 1810546. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate EBC daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Eastern Bankshares, Inc. directly from SEC EDGAR.