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Eastern Bankshares (Eastern Bankshares) Effective Interest Rate on Debt % : 490.69% (As of Mar. 2024)


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What is Eastern Bankshares Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Eastern Bankshares's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $290.8 Mil. Eastern Bankshares's average total debt for the quarter that ended in Mar. 2024 was $59.3 Mil. Therefore, Eastern Bankshares's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 490.69%.


Eastern Bankshares Effective Interest Rate on Debt % Historical Data

The historical data trend for Eastern Bankshares's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Eastern Bankshares Effective Interest Rate on Debt % Chart

Eastern Bankshares Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Effective Interest Rate on Debt %
Get a 7-Day Free Trial 33.78 38.73 17.11 9.58 62.37

Eastern Bankshares Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 21.53 32.32 48.73 73.69 490.69

Competitive Comparison of Eastern Bankshares's Effective Interest Rate on Debt %

For the Banks - Regional subindustry, Eastern Bankshares's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Eastern Bankshares's Effective Interest Rate on Debt % Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Eastern Bankshares's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Eastern Bankshares's Effective Interest Rate on Debt % falls into.



Eastern Bankshares Effective Interest Rate on Debt % Calculation

Eastern Bankshares's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Dec. 2022 )+Total Debt  (A: Dec. 2023 ))/ count )
=-1  *  -246.05/( (740.828+48.216)/ 2 )
=-1  *  -246.05/394.522
=62.37 %

where

Total Debt  (A: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=49.531 + 691.297
=740.828

Total Debt  (A: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=48.121 + 0.095
=48.216

Eastern Bankshares's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Dec. 2023 )+Total Debt  (Q: Mar. 2024 ))/ count )
=-1  *  -290.844/( (48.216+70.33)/ 2 )
=-1  *  -290.844/59.273
=490.69 %

where

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=48.121 + 0.095
=48.216

Total Debt  (Q: Mar. 2024 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=52.754 + 17.576
=70.33

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


Eastern Bankshares  (NAS:EBC) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.


Eastern Bankshares Effective Interest Rate on Debt % Related Terms

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Eastern Bankshares (Eastern Bankshares) Business Description

Industry
Traded in Other Exchanges
N/A
Address
265 Franklin Street, Boston, MA, USA, 02110
Eastern Bankshares Inc is a commercial bank that caters its products and services to retail, commercial, and small business customers. Its diversified products and services include lending, deposit, wealth management, and insurance products. The company has two operating segments; Banking business offers a range of commercial, retail, wealth management, and banking services, and consists of attracting deposits from the general public and investing those deposits, together with borrowings and funds generated from operations and the Insurance agency business segment consist of insurance-related activities, acting as an independent agent in offering commercial, personal and employee benefits insurance products to individual and commercial clients.
Executives
Nancy Huntington Stager officer: Executive VP 42 AUTUMN LANE, READING MA 01867
Quincy Lee Miller officer: President 3 BEECHWOOD LANE, MILTON MA 02186
Linda Marie Williams director C/O SMILEDIRECTCLUB, INC., 414 UNION STREET, NASHVILLE TN 37219
Marisa Harney director C/O CIT GROUP INC., 1 CIT DRIVE, #3251-9, LIVINGSTON NJ 07039
Gregory Paul Buscone officer: EVP Sr Commercial Banking Ofcr 86 PINE STREET, MEDFIELD MA 02052
Deborah C Jackson director C/O JOHN HANCOCK, 601 CONGRESS STREET, BOSTON MA 02210
Bari A Harlam director C/O MOHAWK GROUP HOLDINGS, INC., 37 EAST 18TH STREET, 7TH FLOOR, NEW YORK NY 10003
Luis Borgen director 58 SUNSET RIDGE LANE, BOLTON MA 01740
Shell Greg Allen Sr. director 200 CLARENDON STREET, BOSTON MA 02116
James Burke Fitzgerald officer: Chief Financial Officer 108 MOUNT VERNON STREET, APARTMENT 6, BOSTON MA 02108
Sujata Yadav officer: EVP, Chief Marketing Officer 19 ORCHARD LANE, LYNNFIELD MA 01940
Matthew Adam Osborne officer: EVP Sr Commercial Banking Ofcr 11 RAVEN ROAD, CANTON MA 02021
Martha A Dean officer: EVP, Dir. of Operations C/O CNB FINANCIAL CORP., P.O. BOX 830, WORCESTER MA 01613-0830
Daniel J Sullivan officer: Chief Credit Officer 4 KENSINGTON AVENUE, READING MA 01867
Kathleen Cloherty Henry officer: Executive VP, General Counsel 58 MONTCLAIR AVENUE, WEST ROXBURY MA 02132