Eastern Bankshares, Inc. (NASDAQ:EBC) Q4 2023 Earnings Call Transcript

Jim Fitzgerald: Yes. No, I think what we believe here is that we were at very low levels. We and the industry, right, were at very low levels for a long period of time. When we look at our current levels and let’s just call it nonperformers, again, 40-ish basis points, maybe a touch higher than that, and charge-offs for the year of call it 9 to 10 basis points, we would expect both of those metrics to migrate up a little bit, but in a contained way. We don’t see large increases in them, but they were at very low levels for a very long period of time, and as you know, the environment is clearly changing, and we would expect those to move upward. But again, contained is the word we use internally, so it’s hard to give you a number, but we don’t see big increases there, contained is the word I would say one more time.

Damon DelMonte: Got it. Okay. I think that’s all that I had. Thank you very much.

Operator: And there are no further questions at this time. I will turn the call back over to Bob Rivers for closing remarks.

Bob Rivers: Well, thank you for your interest in your questions. And we look forward to sharing more with you during our next earnings call at the end of April. Have a great day.

Operator: This concludes today’s conference call. You may now disconnect. Thank you.