Eastern Bank Q2 FY2026 Earnings Call
With David Rosato (CFO), Denis Sheahan (CEO) and Quincy Miller (President and COO).
Founded in 1818, Boston-based Eastern Bank is Greater Boston’s leading local bank and the largest bank-owned independent investment advisor in Massachusetts with approximately 110 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, Rhode Island and Connecticut.
More about Eastern Bank
Eastern provides a full range of banking and wealth management solutions for consumers and businesses of all sizes including through its Cambridge Trust Wealth Management and Private Banking divisions, and takes pride in its outspoken advocacy and community support that includes more than $240 million in charitable giving since 1994. An inclusive company, Eastern is comprised of deeply committed professionals who value relationships with their customers, colleagues and communities. Member FDIC, Equal Housing Lender Investments are not FDIC Insured • May Lose Value • Not Bank Guaranteed • Not a Deposit • Not Insured By Any Government Agency.
1Prepared remarks2 speakers
Thank you. Good morning, and thank you for joining us. On the call with me today are Executive Chair and Chair of the Board of Directors, Bob Rivers, President and Chief Operating Officer, Quincy Miller, and Chief Financial Officer, David Rosato. We are pleased with our strong second quarter performance, which reflects the enhanced earning power of the franchise and further reinforces Eastern's position as the premier bank in Greater Boston, one of the nation's largest and most affluent banking markets.
Record…
Thanks, Denis, good morning, everyone. Our second quarter financial performance was strong, with record operating net income. We continue to see positive trends in many areas of the business. Highlights from the quarter include further improvement in key financial metrics, notably return on average assets and return on average tangible common equity. Positive operating leverage driven by margin expansion, accompanied by diversified fee revenue growth and lower expenses. Solid balance sheet growth supported by…