Eastern Bankshares Inc (EBC): http://archive.fast-edgar.com/20201207/A...

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LordDarley

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Monday, 12/07/2020 12:53:40 PM

Monday, December 07, 2020 12:53:40 PM

http://archive.fast-edgar.com/20201207/AEZ2W22COC22J26Z2C2Q2CZ2DRH9A22IZ222/

If you care about your investment in newly public Eastern Bank Corporation ("EBC"), you ought to read this report filed with the SEC today.

It demonstrates a key reason for my comfort with EBC: they do not make stupid loans.

What's today's lesson about COVID-19?

- Only 4.1% of the loan portfolio is in Covid-19 modification status.

- Only 11.4% of the loan portfolio is invested in at-risk industries, such as hotels, restaurants, and retail. Of that amount, only 10.6% (less than 2% of total loans) are in Covid-19 modification status.

Eastern Bank has a long tradition of not chasing risky loans to make quick premiums. When balanced with the dependable and growing revenues of its insurance subsidiary (property, casualty, and health insurance) it's a sleep well at night investment for me, and still at a great price because it has not yet attracted a full Wall Street following.