EBC - Eastern Bankshares Non-GAAP EPS of $0.34 misses by $0.03 revenue of $195.53M in-line
- Eastern Bankshares press release ( NASDAQ: EBC ): Q3 Non-GAAP EPS of $0.34 misses by $0.03 .
- Revenue of $195.53M (+34.0% Y/Y) in-line.
- Net interest income of $152.2 million for the third quarter of 2022 was 10% higher than the prior quarter.
- The net interest margin on a fully tax equivalent basis of 2.87% for the third quarter was 24 basis points higher than the prior quarter.
- The cost of total deposits was 10 basis points in the third quarter, an increase of 4 basis points from the prior quarter.
- Loan growth was 16% on an annualized basis, driven by double-digit annualized growth in commercial and residential lending.
- The Company repurchased 1,481,248 shares of its common stock during the third quarter of 2022 at a weighted average price of $19.52 excluding commissions, for an aggregate purchase price of $28.9 million.
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Eastern Bankshares Non-GAAP EPS of $0.34 misses by $0.03, revenue of $195.53M in-line