Eastern Bankshares, Inc.

or the timing of events to differ materially from the views expressed today. More information about such risks and uncertainties is set forth under the caption forward-looking statements in the earnings press release as well as in the risk factors section and other disclosures in the company's periodic filings with the Securities and Exchange Commission. Any forward-looking statements made during this call represent management's views and estimate... and estimates as of today, and the company undertakes no obligation to update these statements as a result of new information or future events. During the call, the company will also discuss both GAAP and certain non-GAAP financial measures. For reconciliation of GAAP to the non-GAAP financial measures, please refer to the company's earnings press release, which can be found at investor.easternbank.com. Please note, this event is being recorded. All lines have been placed on mute to prevent any background noise. After the speaker's remark, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the one on your touchtone phone. If you would like to withdraw your question, press star two. Thank you. Joining today's call are Eastern Executive Chair and Chair of the Board Bob Rivers, Chief Executive Officer Dennis Sheehan, and Chief Financial Officer David Rosado. I'd now like to turn the call over to Bob Rivers, Executive Chair and Chair of the Board.

Thank you, Joelle. Good morning, everyone, and thank you for joining our fourth quarter earnings call. We hope your 2025 is off to a good start. As was mentioned, with me today is Eastern CEO Dennis Sheehan and our CFO, David Rosado. As we close out the fourth quarter and reflect on another successful year, our most significant milestone was our merger with Cambridge Trust. This combination not only solidifies our position as the largest commercial bank headquartered in greater Boston and a leading financial institution in New England, but also allows us to deliver a broader suite of offerings to our customers, greater opportunities for our colleagues, and even stronger commitment to the communities we serve. As always, I want to express my endless gratitude to our 2,200 employees for all of their tremendous work and achievement in 2024. It's the values, talent, and commitment of our team that truly sets us apart. And speaking of our people, we have a few important retirements to acknowledge. Barbara Heineman, our Director of Consumer Banking, who has been an integral part of Eastern's growth and performance, has recently retired after 23 years of dedicated service. Kim Dee joined Eastern as our new Consumer Bank bringing to us over 20 years of retail banking experience from Citizens Bank. We also have two retiring board members, Paul Conley and Paul Spies, whose valued insights have guided us well, particularly over the past five years of extraordinary transformation at Eastern. On behalf of all of us, we wish Barbara, Paul, and Paul the very best in their well-deserved next chapter. I look forward to all we will achieve together in the year ahead. With that, I'll hand it over to Dennis, who will discuss our business in more detail, before handing it off to David to discuss our financial results.

Thank you, Bob. We ended the year on a strong note with our fourth quarter earnings, bringing us to full year operating net income of $192.6 million, which is 18% higher than 2023. Net interest income of $607.6 million increased 10% from 2023, highlighted by a 12 basis point expansion in the net interest margin. Period end loans were up 29% from a year ago, benefiting from the addition of Cambridge Trust and organic growth. Our liquidity position remains strong, with period end deposits up 21% year over year, essentially no wholesale funding. and a loan-to-deposit ratio of 85%. We continue to strategically deploy capital during the year, repurchasing $28.4 million worth of shares and increasing the dividend by 9%. We are now six months past the merger of Eastern and Cambridge, and we remain focused on continuing to capitalize on synergies, growth opportunities, and overall financial performance. The improvement in the company's performance ratios, namely return on average assets and return on average tangible common equity, and the outlook for continued improvement is very satisfactory. I'm pleased to report Cambridge client and talent retention continues to be strong. This success reflects the thoughtful planning and seamless integration of Eastern and Cambridge, ensuring continuity and stability and creating a strong foundation for growth. Our branch network is well-situated in and around Boston and Southern New Hampshire, the epicenter of the economy, and provides us with direct community connection to serve consumers and businesses. This branch network, combined with our talented staff, has earned us the number one deposit market share among locally headquartered banks in the Boston MSA. We're hopeful that 2025 will bring renewed growth to our lending and deposit businesses but also recognize that the overall economic and rate environment could be a headwind. We remain open for business with a highly capable team, well positioned to continue to serve our customers as loan demand strengthens. In this regard, we added talent in 2024 to both commercial and industrial lending and our wealth management businesses. Our commercial industrial lending capability grew by adding four experienced lenders And we added two seasoned members to business development in the wealth management division. Looking ahead, we will continue to add growth-oriented talent in commercial banking, business banking, private banking, and wealth management. Our wealth management and private banking businesses are a key segment of our longer-term growth strategy. With over $8.3 billion in assets under management and $8.8 billion in assets under administration, We are the largest bank-owned independent investment advisor in Massachusetts and 12th largest in the state overall. We're confident in our ability to deliver sustainable growth over time in wealth management, creating value for our clients and shareholders alike. To touch on the competitive landscape, there were two significant mergers announced in our footprint in the fourth quarter, creating even more consolidation here in Massachusetts. We are frequently asked about our interest in further acquisitions. Our answer remains the same. We're focused on organic growth and realizing the potential of our recent combinations. However, if an appropriate merger opportunity develops, we are interested and will be disciplined. I have full confidence in our team's ability to execute on any acquisition opportunity. Most importantly, We remain committed to delivering on our financial objectives, and we have positive momentum as we look into the year ahead. In 2025, we'll have the full year impact of the Cambridge merger, significant financial benefits from the investment restructure we just announced, and continued very robust levels of capital and liquidity that provide us with strategic and financial flexibility. David, I'll now hand it to you to review our fourth quarter results.