Eastern Bankshares and Paylocity report third-quarter 2026 results

what happened

According to TradingView, which summarizes SEC filings with AI, Eastern Bankshares reported third-quarter 2026 revenue of $306.56 million, up 26.9% from $241.5 million a year earlier. Net income rose 4.6% to $111.03 million, while diluted earnings per share fell 3.8% to $0.51 from $0.53. Higher expenses partly offset the gains.

Net interest margin widened 15 basis points to 3.62% from 3.47%. Average loans grew 27.0% to $23.4 billion, mainly due to loans acquired in the HarborOne merger. Mortgage banking and card income also increased, and nonperforming loans fell 50.8% to $84.8 million from December 31, 2025.

Paylocity reported revenue of $451.67 million for the same quarter, compared with $408.17 million a year earlier, an increase of 10.7%. Net income climbed 20.1% to $57.64 million, and diluted EPS rose to $1.07 from $0.86. Recurring revenue grew 12% to $424.5 million, but gross margin declined to 67% from 69% on higher employee and processing costs.

why it matters

Both reports are routine quarterly filings with limited impact on the broader market. For shareholders, the key points are the gap between revenue growth and EPS at the bank and the lower gross margin at Paylocity.

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