财务数据和关键指标变化 - GAAP earnings for Q1 were $51.5 million or$0.30 per share，operating earnings were $55.1 million or$0.32 per share，up 23% compared to the prior quarter and 18% compared to Q1 of 2021 [11][15] - Excluding PPP loans，overall loan growth was 3.1% on an annualized basis，and commercial loan growth was 4.4% annualized [11] - The company adopted CECL as of January 1, 2022，and recorded a $27 million increase in its allowance for loan losses，which was in line with previous communication [11] - Total assets at 3/31 were$22.8 billion，down from $23.5 billion at the end of the year，driven by a$235 million reduction in deposits [13] - Shareholders' equity decreased by $400 million due to lower other comprehensive income，share repurchases，and the CECL adjustment [13] - Loans decreased by$100 million as PPP paydowns were $190 million，although there was$91 million of growth in other loans，primarily in commercial loans [13] - The securities portfolio decreased by $200 million due to lower market values，paydowns，and sales，partially offset by reinvestment [14] - Net interest income for the period was$130.4 million on a fully tax equivalent basis，compared to $124.6 million last quarter and$101.4 million in Q1 of 2021 [15] - Average earning assets were up $2.4 billion in the quarter，primarily due to the Century acquisition [16] - PPP fee recognition was$5.8 million in the quarter，down from $10.8 million in the prior quarter [16] - The net interest margin on a fully tax equivalent basis was 2.42$53.3 million [17] - The company incurred $4.4 million of losses on run - by trust assets due to stock market declines in Q1 and$2.2 million of losses on the sale of securities from the Century portfolio [18] - Expenses were $108.9 million and$110.9 million on an operating basis in the quarter，in line with guidance and reflecting 45% cost savings from the Century acquisition [19] - The tax rate for the quarter was 22.1% [19] - The unrealized loss in the securities portfolio was $331 million，down from$539 million due to the increase in rates，and the company expects to recover all of it as the bonds mature [20] - The company expects $750 million of cash flow from the securities portfolio throughout the rest of this year [20] - Loan charge - offs were one basis point，non - performing loans were extremely low at$34 million，and after CECL implementation，the allowance for loan losses as a percentage of non - performing loans is over 350% [24] - COVID modifications are under $50 million，down from over$100 million at the end of the year [25] 各条业务线数据和关键指标变化 - In commercial lending，organic commercial loan growth was slower than prior quarters，but the company believes pipelines are strong and expects high single - digit growth in these portfolios in 2022 [7] - The company continued to build its insurance brokerage business，with the March 1st acquisition of the Michals Insurance Agency，marking the 35th acquisition of an independent insurance agency by Eastern Insurance since 2002 [8] 各个市场数据和关键指标变化 无相关内容 公司战略和发展方向和行业竞争 - The company aims to solidify its position as the leading community bank in Greater Boston through acquisitions and business growth [7] - It continues to build its teams in middle market lending，commercial real estate，and community development lending [8] - The company expects to benefit from higher interest rates in the quarters ahead，with its deposit base providing a competitive funding advantage [7][28] - It plans to implement a change in overdraft practices later this year，anticipating a reduction in fees by $2.5 million to$3 million in 2022 [29] - The company is open to bank M&A opportunities when they arise，while focusing on organic growth and improving multiples [58] 管理层对经营环境和未来前景的评论 - The company believes it is well - positioned to benefit from higher interest rates in the quarters ahead，although the impact will be more significant in 2023 [7][27] - The local economy's activity levels are strong，and the company is optimistic about continued loan growth [11] - The company expects its deposit base to provide a competitive advantage as short - term interest rates increase [21] - The integration of the Century loan portfolio is expected to enhance long - term growth prospects [22] 其他重要信息 - The company completed the transfer of about $300 million in cannabis and money service business deposits to Needham Bank on April 1 [8] - Through April 26，the company repurchased 4.9 million shares at a price of$20.83 in total under its current authorization，equating to 52% of the authorized amount of 9.3 million shares [31] 总结问答环节所有的提问和回答 问题1: 公司核心业务银行和贷款增长（排除PPP）与同行相比增长平缓的原因 - 公司商业业务有四个细分领域，第一季度增长主要在商业房地产领域，各领域有正常的还款情况，公司对各领域发展有信心，预计整体实现中高个位数增长，且业务以客户为导向，增长与过去表现一致 [34][35] 问题2: 对后期贷款增长乐观的情况下，贷款额度利用率和第一季度还款情况是否会放缓 - 贷款额度利用率未增加，还款活动受多种因素影响，难以预测，公司对业务管道和市场活动水平感到兴奋，认为有能力利用市场机会 [36] 问题3: 除大麻存款转移外，2022年其余存款的增长轨迹 - 世纪银行收购后，存款重新定位基本完成，此前行业和公司存款增长迅猛，未来存款增长将更困难，但公司对市场地位和能力有信心，存款结构是长期优势 [37][38] 问题4: 修订后的2022年净利息收入（NII）指导中假设的存款数据水平 - 公司未披露该数据，不同公司计算方式不同，假设众多，难以与其他银行进行苹果对苹果的比较，公司已将相关因素纳入指导 [40] 问题5: 上一轮加息周期的相关数据 - 公司未披露，因不同计算时间段结果不同，可查看当时资金成本变化情况 [41] 问题6: 第二季度掉期收入是否会减少 - 第一季度利率上升使掉期账面公允价值增加，掉期新业务此前因LIBOR转换存在不确定性而较低，第一季度有所回升，预计会继续，但除非利率继续上升，否则公允价值变动因素不会持续 [43] 问题7: 存款成本上升是来自消费者端还是商业端压力 - 是因为加入了世纪银行存款，其成本略高于东方银行，东方银行自身成本未变 [44] 问题8: 保险代理业务的并购环境，是否有交易管道和有吸引力的定价 - 交易管道活跃，小交易定价指标仍有利，公司专注于收入几百万美元及以下的小机构，预计今年收购两到三家保险机构 [46] 问题9: 新增的六位关系银行家是团队还是个人，有何特点 - 是个人招聘，分布在主要商业银行业务线，来自不同规模和情况的竞争对手，这有助于吸引更多人才，公司对后续商业贷款增长乐观 [48] 问题10: 商业贷款增长展望是否包含世纪银行的部分还款 - 包含世纪银行的还款 [49] 问题11: 新透支政策何时生效 - 2022年下半年 [50] 问题12: 本季度透支和NSF费用总额 - 年度化减少金额为500万 - 600万美元，本季度约占一半 [52] 问题13: 保险收入从第一季度到第二季度的变化 - 可参考去年情况，今年第一季度比2021年高2%，查看2021年的季节性变化来判断 [53] 问题14: 非利息费用中福利计划费用情况及全额运行率 - 福利计划在3月发布，不是全季度费用，首年赠款目标是重现作为互助公司时约1000万美元/年的长期激励费用，未来会有额外赠款 [55][56] 问题15: 截至3月31日的资产敏感性数据 - 与之前相近，每25个基点的利率上升预计带来约700万美元的增量净利息收入 [57] 问题16: 完成世纪银行收购后对银行并购的看法 - 公司愿意在有合适机会时进行新的合作，目前专注于有机增长，积极招聘以建立商业贷款业务和提升公司整体增长，提高估值倍数以更好地把握未来收购机会 [58] 问题17: 考虑新合作时的地理范围 - 仍专注于当前所在地区及相邻地区 [59]