Eastern Bankshares ( (EBC) ) just unveiled an update.
Eastern Bankshares, Inc. reported a third-quarter net loss of $6.2 million due to merger-related charges and initial provisions on loans. However, it achieved a 9% increase in its quarterly dividend and posted a strong operating net income of $49.7 million, reflecting the positive impact of its merger with Cambridge Bancorp. The merger, a transformative event for the company, added significant assets and positioned Eastern as a more competitive institution in the financial sector.
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