Eastern Bankshares Q1 net income falls 34% to $65.3 million; dividend raised 15%
Eastern Bankshares reported net income of $65.3 million, or $0.29 per diluted share, for the quarter ended March 31, 2026, down from $99.5 million, or $0.46, in the prior quarter. Operating net income, which excludes items management considers non-core, was $88.6 million, or $0.40 per diluted share, and total revenue rose to $288.2 million from $283.5 million. The Board approved a 15% increase in the quarterly dividend to $0.15 per share, and the company repurchased $75.1 million of its stock during the quarter.
Key points
- Net income was $65.3 million, or $0.29 per diluted share, versus $99.5 million, or $0.46, in the fourth quarter of 2025; operating net income was $88.6 million, or $0.40 per diluted share.
- Net interest margin on a fully tax equivalent basis rose 2 basis points to 3.63%, and total revenue rose to $288.2 million from $283.5 million.
- Quarterly cash dividend raised to $0.15 per share, a $0.02 increase, payable June 22, 2026 to shareholders of record as of June 5, 2026.
- Repurchased 3.9 million shares for $75.1 million; 59% of the current authorization is complete, and the company expects to finish the program around mid-year.
The filing
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 23, 2026.
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