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AI brief of an SEC Form 8-K · Eastern Bankshares (EBC)

Eastern Bankshares Q1 EPS $0.24; CFO James Fitzgerald to retire

Mixed Impact 4 of 5 leadership Written later

Eastern Bankshares reported first-quarter 2024 net income of $38.6 million, or $0.24 per diluted share, on April 25, 2024. Total revenue was $157.6 million, down from $160.0 million in the prior quarter, while per-share profit from continuing operations rose from $0.19. Chief Financial Officer James Fitzgerald will retire once a successor is appointed, and the company has begun a search, which adds a leadership transition for shareholders to track.

Key points

  • Net income $38.6 million, or $0.24 per diluted share; operating EPS $0.23 vs. $0.10 in the prior quarter
  • Net interest income fell $3.4 million to $129.9 million; noninterest expense fell $19.8 million to $101.2 million
  • CFO James Fitzgerald notified the company on April 24, 2024 of his retirement; he will stay until a successor is named
  • Quarterly dividend of $0.11 per share payable June 14, 2024; merger with Cambridge Bancorp approved by shareholders on February 28, 2024, expected to close early in Q3 2024 pending regulatory approvals

The filing

CompanyEastern Bankshares (EBC)
Form8-K, current report
Filed with the SECApr 25, 2024, 4:20 PM ET
Accession number0001628280-24-018187

Items reported: 2.02 Results of Operations5.02 Director / Officer Change7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:05 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 25, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.