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Eastern Bankshares, Inc. (NASDAQ:EBC) Q4 2024 Earnings Call Transcript

The article provides a transcript of Eastern Bankshares Inc.'s (NASDAQ: EBC) Q4 2024 earnings call. During the call, Eastern Bankshares reported a net income of $25.7 million for the fourth quarter, a decrease from the previous year's $34.1 million, primarily due to higher non-interest expenses and a slight decrease in net interest income. CEO Bob Rivers highlighted the bank's strategic focus on enhancing digital capabilities, managing credit quality, and navigating the challenging economic environment. The bank also discussed its merger with Cambridge Bancorp, which is expected to close in the second quarter of 2024, aiming to expand its market presence and capabilities. CFO James Fitzgerald provided insights into the financials, noting a stable deposit base, a slight increase in loan balances, and efforts to control costs amidst inflationary pressures. The call also covered updates on asset quality, with non-performing loans slightly up but still within manageable levels, and an outlook on future economic conditions and interest rate expectations.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/companies/eastern-bankshares-inc-nasdaq-ebc-q4-2024-earnings-call-transcript/ar-AA1xQnZg ]