Berkshire Hills Bancorp

Berkshire Hills Bancorp, Inc. operates as a bank holding company for Berkshire Bank and Berkshire Insurance Group, Inc. The firm offers deposit, lending, insurance, and wealth management products to retail and commercial customers in its market areas. It aims to expand and deepen market share and wallet share through organic growth and acquisition strategies. The company was founded in June 2000 and is headquartered in Boston, MA.

Earnings data Q1 2021

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Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Berkshire Hills Bancorp excels in Q4 2022, faces economic challenges

Berkshire Hills Bancorp delivered strong financial performance in Q4 and full-year 2022, supported by a robust balance sheet and progress on key strategic initiatives.
The company faces challenges related to potential economic uncertainties, office space exposure, and credit risk management, which require careful monitoring and strategic decision-making.
Opportunities for growth and profitability exist in the outlook for 2023, strategic hiring, and margin improvement, positioning the company for continued success and value creation.

Berkshire Hills Bancorp achieves record Q1 earnings amid market challenges

Berkshire Hills Bancorp delivered strong financial performance in Q1, with record EPS and notable growth in key metrics.
The company faces challenges in managing net interest margin pressure and navigating market uncertainties.
Opportunities lie in optimizing capital deployment, enhancing operational efficiency, and maintaining strong asset quality.
Overall, Berkshire Hills Bancorp's performance reflects resilience and strategic focus amidst evolving market dynamics.

Berkshire Bank reports Q2 income dip, focuses on sustainability

Berkshire Bank's Q2 showed mixed performance with income decline but stable deposits.
Strengths include sustainability focus, improved Net Promoter Score, and team expansion plans.
Challenges lie in lower loan growth expectations and increased operating expenses.
Opportunities include selling residential production, hiring deposit generators, and commercial growth.

Berkshire Hills Bancorp reports mixed Q3 results, eyes efficiency gains

Berkshire Hills Bancorp faced a short-term decline in operating net income and EPS but maintained stable deposits and saw growth in average loan balances.
The company highlighted improvements in asset quality metrics, discussed expense management, and emphasized risk management practices.
While challenges like branch closures and restructuring charges were mentioned, opportunities for cost savings and revenue growth through fee income enhancements were identified.
Overall, Berkshire Bank's strategic focus on technology upgrades and branch network optimization positions it for potential efficiency gains and sustained performance.

Berkshire Hills Bancorp focuses on growth amidst Q4 challenges

Berkshire Hills Bancorp's Q4 performance highlighted expense optimization and credit management priorities for 2024.
Despite challenges in operating EPS decline and expense management, the bank's strong balance sheet and strategic priorities position it for growth.
Opportunities in deposit capture, Boston market expansion, and wealth management underscore the bank's long-term growth strategy.

Berkshire Hills Bancorp posts solid Q1 results amidst strategic shifts

Berkshire Hills Bancorp's Q1 performance reflects solid financials, efficient cost management, and a strategic branch sale to enhance profitability.
Despite challenges from aggressive competitor pricing and balance sheet adjustments, the bank's focus on resilience and growth opportunities shines through.
Opportunities for increased buybacks, capital deployment post-transaction, and strategic investments position the bank for sustainable growth and value creation.

Berkshire Hills Bancorp reports robust Q2 performance and digital growth

Berkshire Hills Bancorp demonstrated strong financial performance in Q2 2024, marked by growth in EPS and net income, alongside effective cost management.
The bank's focus on capital strength, liquidity, and strategic initiatives positions it well to navigate challenges and capitalize on growth opportunities.
To sustain momentum, Berkshire Hills Bancorp must address challenges, seize growth opportunities, and stay agile in a dynamic banking environment.

Berkshire Hills Bancorp reports robust Q3 results and eyes growth

Berkshire Hills Bancorp (BHLB) showcased strong financial performance and asset quality in Q3 2024, underpinned by strategic initiatives and prudent risk management practices.
While facing challenges such as managing expenses and credit risk, the company remains focused on long-term profitability and enhancing shareholder value.
Opportunities lie in expanding digital deposit products, optimizing operational efficiency, and navigating market uncertainties to drive sustainable growth.

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Berkshire Hills Bancorp, Inc. operates as a bank holding company for Berkshire Bank and Berkshire Insurance Group, Inc. The firm offers deposit, lending, insurance, and wealth management products to retail and commercial customers in its market areas. It aims to expand and deepen market share and wallet share through organic growth and acquisition strategies. The company was founded in 1846 and is headquartered in Boston, MA.

BOSTON , Nov. 1, 2024 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) today announced that its Board of Directors has approved a quarterly cash dividend of $0.18 per common share to shareholders of record at the close of business on November 14, 2024, payable on November 27, 2024.  About Berkshire Hills Bancorp Headquartered in Boston, Berkshire Hills Bancorp is the parent of Berkshire Bank.

Berkshire Hills Announces Quarterly Shareholder Dividend

Berkshire Hills Bancorp, Inc. (NYSE:BHLB ) Q3 2024 Earnings Conference Call October 24, 2024 9:00 AM ET Company Participants Kevin Conn - Investor Relations Officer Nitin Mhatre - Chief Executive Officer Brett Brbovic - Chief Financial Officer Greg Lindenmuth - Chief Risk Officer Conference Call Participants Christopher O'Connell - KBW Laurie Hunsicker - Seaport Research Mark Fitzgibbon - Piper Sandler Operator Good morning, ladies and gentlemen, and welcome to the Berkshire Hills Bancorp Third Quarter 2024 Earnings Conference Call. At this time, all lines are in listen-only mode.

Berkshire Hills Bancorp, Inc. (BHLB) Q3 2024 Earnings Call Transcript

While the top- and bottom-line numbers for Berkshire Hills (BHLB) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Berkshire Hills (BHLB) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Berkshire Hills Bancorp (BHLB) came out with quarterly earnings of $0.58 per share, beating the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $0.50 per share a year ago.

Berkshire Hills Bancorp (BHLB) Q3 Earnings and Revenues Surpass Estimates

Operating EPS of $0.58 increased 5% linked quarter and 16% year-over-year $16 million non-operating gain on branch sale ($0.30 per share after tax) Operating revenue up 1% linked quarter and 2% year-over-year 14.8% return on tangible common equity; 9.9% operating return on tangible common equity Branch sale and loan sale are expected to further improve long-term profitability  BOSTON , Oct. 24, 2024 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) today reported results for the third quarter of 2024. These results along with comparison periods are summarized below: ($ in millions, except per share data) Three Months Ended Sept.

Berkshire Hills Reports Higher Third Quarter Net Income of $37.5 million, or $0.88 Per Share

Berkshire Hills (BHLB) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Berkshire Hills Bancorp (BHLB) Reports Next Week: Wall Street Expects Earnings Growth

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BOSTON , Oct. 1, 2024 /PRNewswire/ -- The Berkshire Hills Bancorp, Inc. (NYSE: BHLB) third quarter 2024 earnings release and conference call are scheduled as follows: Earnings Release:      October 24, 2024, at approximately 7:30 a.m. (Eastern) Conference Call:          Thursday, October 24, 2024, at 9:00 a.m.

Berkshire Hills Announces Third Quarter 2024 Earnings Release and Conference Call Schedule

GLENS FALLS, N.Y. , Aug. 6, 2024 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® - AROW), through its bank subsidiary Glens Falls National Bank and Trust Company, completed the acquisition of the Whitehall, New York branch office from Berkshire Bank, a subsidiary of Berkshire Hills Bancorp, Inc. (NYSE: BHLB).

Arrow Completes Acquisition of Whitehall, N.Y. Branch

Berkshire Hills (BHLB) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

Berkshire Hills (BHLB) Upgraded to Buy: What Does It Mean for the Stock?

Berkshire Hills Bancorp, Inc. (NYSE:BHLB ) Q2 2024 Earnings Conference Call July 18, 2024 9:00 AM ET Company Participants Kevin Conn - IR & Corporate Development Officer Nitin Mhatre - CEO Brett Brbovic - CFO Sean Gray - EVP & CFO Gregory Lindenmuth - SEVP & Chief Risk Officer Conference Call Participants Laurie Hunsicker - Seaport Research Mark Fitzgibbon - Piper Sandler Christopher O'Connell - KBW Operator Good morning, ladies and gentlemen, and welcome to the Berkshire Hills Bancorp Second Quarter 2024 Earnings Conference Call. At this time, all lines are in a listen-only mode.

Berkshire Hills Bancorp, Inc. (BHLB) Q2 2024 Earnings Call Transcript

Although the revenue and EPS for Berkshire Hills (BHLB) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Berkshire Hills (BHLB) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates

Berkshire Hills Bancorp (BHLB) came out with quarterly earnings of $0.55 per share, beating the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.55 per share a year ago.

Berkshire Hills Bancorp (BHLB) Beats Q2 Earnings and Revenue Estimates

Operating EPS of $0.55 increased 12% linked quarter  Operating revenue increased 3% linked quarter Operating expense decreased 2% linked quarter Net interest margin 3.20%, increased 5 basis points linked quarter Net loan charge-offs were 7 basis points annualized BOSTON , July 18, 2024 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) today reported results for the second quarter of 2024. These results along with comparison periods are summarized below: ($ in millions, except per share data)          Three Months Ended June 30, 2024 Mar. 31, 2024 June 30, 2023 Net income (loss) $ 24.0 $ (20.2) $ 23.9         Per share 0.57 (0.47) 0.55 Operating earnings1 23.2 20.9 23.9          Per share 0.55 0.49 0.55 Net interest income, non FTE $ 88.5 $ 88.1 $ 92.8 Net interest income, FTE 90.5 90.1 94.7          Net interest margin, FTE 3.20 % 3.15 % 3.24 % Non-interest income 20.1 (32.6) 17.1 Operating non-interest income1 20.1 17.3 17.1 Non-interest expense $ 70.9 $ 76.0 $ 74.0 Operating non-interest expense1 71.3 72.4 74.0 Efficiency ratio1 63.4 % 66.3 % 63.6 % Average balances 2 Loans $ 9,214 $ 9,059 $ 8,791 Deposits 9,779 9,978 9,568 Period-end balances 2 Loans 9,284 9,144 8,882 Deposits 10,095 10,368 10,068 1.

Berkshire Hills Reports a Solid Second Quarter Net Income of $24.0 million, or $0.57 Per Share

BOSTON , June 27, 2024 /PRNewswire/ -- The Berkshire Hills Bancorp, Inc. (NYSE: BHLB) second quarter 2024 earnings release and conference call are scheduled as follows: Earnings Release:    July 18, 2024, at approximately 7:30 a.m. (Eastern) Conference Call:       Thursday, July 18, 2024, at 9:00 a.m.

Berkshire Hills Announces Second Quarter 2024 Earnings Release and Conference Call Schedule

Shareholders Recognize Berkshire's Achievements; Approve All Proposals BOSTON , May 17, 2024  /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB), the parent company of Berkshire Bank, a relationship-driven, community-focused bank with financial centers in New England and New York, announced today that all three proposals were approved at its Annual Meeting of Shareholders on May 16, 2024, with a quorum of approximately 91% of outstanding shares voted in person or by proxy at the meeting.  All measures were unanimously recommended by the Board.

Berkshire Hills Bancorp Announces Results of Annual Meeting

BOSTON , May 14, 2024 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (the "Company", NYSE: BHLB) and Berkshire Bank (the "Bank") announced today that R. David Rosato, Chief Financial Officer, has decided to step down to pursue other interests.

Berkshire Hills Announces Executive Transition

Berkshire Hills Bancorp, Inc. (NYSE:BHLB ) Q1 2024 Earnings Conference Call April 18, 2024 9:00 AM ET Company Participants Kevin Conn - Investor Relations & Corporate Development Officer Nitin Mhatre - Chief Executive Officer David Rosato - Chief Financial Officer Conference Call Participants David Bishop - Hovde Group Mark Fitzgibbon - Piper Sandler Laurie Hunsicker - Seaport Research Chris O'Connell - KBW Operator Good morning ladies and gentlemen and welcome to the Berkshire Hills Bancorp First Quarter 2024 Earnings Conference Call. At this time, note that all participant lines are in a listen-only mode.

Berkshire Hills Bancorp, Inc. (BHLB) Q1 2024 Earnings Call Transcript

Although the revenue and EPS for Berkshire Hills (BHLB) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Here's What Key Metrics Tell Us About Berkshire Hills (BHLB) Q1 Earnings

Berkshire Hills Bancorp (BHLB) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of $0.47 per share. This compares to earnings of $0.63 per share a year ago.

Berkshire Hills Bancorp (BHLB) Q1 Earnings Beat Estimates

Announces $362 Million Securities Sale First quarter loss of $20 million, ($0.47) per share Operating income of $21 million, $0.49 per share Securities sale of $362 million resulted in a $49.9 million net non-operating loss ($0.89 per share after-tax) Net loan charge-offs were 18 basis points annualized TCE ratio of 8.2% and CET1 ratio of 11.6%; tangible book value per share of $22.84 BOSTON , April 18, 2024 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) today reported results for the first quarter of 2024. These results along with comparison periods are summarized below: ($ in millions, except per share data) Three Months Ended Mar. 31, 2024 Dec. 31, 2023 Mar. 31, 2023 Net (loss) income $ ($20.2) $ (1.4) $ 27.6         Per share (0.47) (0.03) 0.63 Operating earnings1 20.9 20.2 27.6          Per share 0.49 0.47 0.63 Net interest income, non FTE $ 88.1 $ 88.4 $ 97.5 Net interest income, FTE 90.1 90.4 99.4          Net interest margin, FTE 3.15 % 3.11 % 3.58 % Non-interest income (32.6) (8.4) 16.6 Operating non-interest income1 17.3 16.7 16.6 Non-interest expense $ 76.0 $ 79.0 $ 72.0 Operating non-interest expense1 72.4 75.3 72.0 Efficiency ratio1 66.3 % 67.8 % 59.5 % Average balances2 Loans $ 9,059 $ 8,990 $ 8,515 Deposits 9,978 9,936 9,676 Period-end balances2 Loans 9,144 9,040 8,682 Deposits 10,368 10,633 10,068 1.

Berkshire Hills Reports First Quarter 2024 Results

Evaluate the expected performance of Berkshire Hills (BHLB) for the quarter ended March 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.

Unlocking Q1 Potential of Berkshire Hills (BHLB): Exploring Wall Street Estimates for Key Metrics

Analysts Estimate Berkshire Hills Bancorp (BHLB) to Report a Decline in Earnings: What to Look Out for

BOSTON , March 28, 2024 /PRNewswire/ -- The Berkshire Hills Bancorp, Inc. (NYSE: BHLB) first quarter 2024 earnings release and conference call are scheduled as follows: Earnings Release:    Thursday, April 18, 2024, at approximately 7:30 a.m. (Eastern) Conference Call:       Thursday, April 18, 2024, at 9:00 a.m.

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