EBC · EASTERN BANKSHAR Q2 FY2026 earnings call record财报电话会记录

“Record operating net income increased 20% same quarter and 30% from a year ago, driving an operating return on average tangible common equity of 15.3%.”

“During the quarter, we grew loan balances and built healthy pipelines, generated meaningful deposit growth, increased wealth management assets to another record level, and produced positive operating leverage.”

“Looking forward, we were encouraged by the resiliency of customers as the commercial loan pipeline finished June at a record quarter-end level and is well diversified across businesses.”

“While the deposit environment remains competitive and costs move modestly higher, we remain committed to balancing deposit growth with margin performance.”

“That commitment was evident again this quarter by returning $106 million in capital to shareholders through share repurchases and quarterly dividends.”

“In addition to $33.1 million of cash dividends paid, we repurchased 3.6 million shares for $72.7 million at an average price of $20.03, which was $0.46 below the VWAP for the quarter.”

“The board authorized a new repurchase program of up to 11.3 million shares or 5% of common stock outstanding.”

“On the balance sheet, we are narrowing our loan growth outlook to a range of 3%-4% from our prior expectation of 3%-5%.”

“Conversely, reflecting the meaningful growth in deposits during Q2, we are increasing our deposit growth outlook to 2%-3%, up from our previous range of 1%-2%.”

“Accordingly, we now anticipate net interest income in the range of $1.5 billion-$1.20 billion for the year, with an FTE margin of 3.60%-3.65%.”

“Our customers are feeling reasonably optimistic, and that's being reflected in our loan pipelines.”

“We're CET1 around 13% and continuing to trend towards that stated 12% target with the new 5% repurchase authorization now in place.”