Berkshire Hills Bancorp Earnings Reports

Berkshire Hills Bancorp, Inc. reported strong first quarter 2025 results, with operating EPS increasing 22% year-over-year to $0.60. The company saw a 5% increase in operating revenue and a 6% decrease in operating non-interest expense year-over-year, leading to an improved efficiency ratio of 59.5%. Net interest margin increased to 3.24%, and credit quality remained strong with delinquent and non-performing loans at a nearly two-decade low.

Berkshire Hills Bancorp reported a 28% year-over-year increase in fourth quarter operating EPS and a 4% increase for full year operating EPS, driven by growth initiatives, strategic optimization, strong credit discipline, and expense management. The company achieved a 9.9% operating return on tangible common equity in the fourth quarter. A definitive agreement with Brookline Bancorp, Inc. for a merger of equals was announced in December.

Berkshire Hills Bancorp reported a robust quarter with increased operating income driven by loan growth, improving credit quality and expense management. The company completed the sale of ten branch offices and saw growth in average deposit balances.

Berkshire Hills Bancorp reported a net income of $24.0 million, or $0.57 per share, for the second quarter of 2024. Operating EPS increased by 12% to $0.55, driven by loan growth, higher fee income, and lower operating expenses. The company completed the consolidation of three branch offices and repurchased approximately 612 thousand shares totaling $13 million during the quarter.

Berkshire Hills Bancorp reported solid first quarter results, with increased operating earnings and loan growth. The company sold securities for $362 million, resulting in a non-operating charge. They also announced the planned sale of ten branches to enhance efficiency and profitability.

Berkshire Hills Bancorp reported Q4 2023 results, with operating earnings of $20.2 million. The company focused on strengthening its balance sheet and maintaining strong credit performance. A securities sale near the end of the period reduced wholesale borrowings and improved the funding profile.

Berkshire Hills Bancorp reported a net income of $20 million, or $0.45 earnings per share, and operating income of $22 million, or $0.50 per share, for the third quarter of 2023. The company experienced modest balance sheet growth and maintained strong asset quality, liquidity, and capital levels.

Berkshire Hills Bancorp reported a net income of $23.9 million for the second quarter of 2023, with earnings per share of $0.55, representing a 10% year-over-year increase. The company's credit performance remained strong, and deposits were resilient. Net interest margin improved from a year ago but declined linked-quarter due to higher funding costs.

Berkshire Hills Bancorp reported a net income of $27.6 million, or $0.63 per share, for the first quarter of 2023. The company saw improvements in key financial metrics year-over-year, driven by the execution of its BEST strategic initiatives. Loan growth was diversified, and deposit demand was managed effectively during the quarter.

Berkshire Hills Bancorp reported a record fourth quarter in 2022, with EPS increasing by 64% year-over-year to $0.69 and adjusted EPS increasing by 52% to $0.64. Revenue increased by 30% year-over-year, driven by net interest income growth. The company's balance sheet remained strong, and it increased its quarterly shareholder dividend by 50% and repurchased 2% of shares.

Berkshire Hills Bancorp reported third quarter EPS of $0.42, with adjusted EPS totaling $0.62. Results benefited from a 13% increase in net interest income driven by a 37 basis point increase in the net interest margin due to loan growth and higher market interest rates.

Berkshire Hills Bancorp reported a strong second quarter in 2022, driven by loan growth, higher asset yields, and stable funding costs. Earnings per share increased by 19% quarter-over-quarter, reflecting positive operating leverage from revenue growth and stable expenses.

Berkshire Hills Bancorp reported an increase in first quarter earnings per share by 62% year-over-year to $0.42, and adjusted EPS increased by 37% to $0.43. The company's earnings benefited from loan growth and a release of the allowance for credit losses.

Berkshire Hills Bancorp reported a strong fourth quarter with EPS increasing 40% year-over-year to $0.42, and 50% to $0.42 on an adjusted non-GAAP basis. The company's BEST plan is showing a solid start, and Berkshire's liquidity and capital position it well for higher expected interest rates and planned business growth in 2022.

Berkshire Hills Bancorp reported a significant increase in third-quarter earnings per share (EPS) compared to the previous year, driven by net non-operating income from asset sales and strategic initiatives. Adjusted EPS, excluding these gains, remained stable year-over-year and increased compared to the previous quarter. The company also completed a share repurchase program and focused on strategic transformations and community investments.

Berkshire Hills Bancorp reported a solid quarter with improved earnings, increased business activity, and a stable margin. The company's efficiency improved, and the return on tangible common equity advanced. Credit performance also improved as customers returned to more normalized operations.

Berkshire Hills Bancorp reported a net income of $13 million, or $0.26 per share, for Q1 2021. Adjusted earnings were $16 million, or $0.32 per share, excluding $3 million in restructuring and other expenses. The quarter benefited from higher revenues and lower credit loss provision expense.

Berkshire Hills Bancorp's Q4 2020 results reflect pandemic-related impacts, including a $9 million increase in the noncash provision for expected credit losses. Net income was $15 million, or $0.30 per share, while core earnings totaled $14 million, or $0.28 per share. Total assets increased to $12.8 billion, and strategic initiatives were announced, including branch consolidations and the sale of mid-Atlantic branches.

Berkshire Hills Bancorp reported a net income of $21 million, or $0.42 per share, for the third quarter of 2020. The non-GAAP measure of core earnings totaled $26 million, or $0.53 per share. The results benefited from higher revenue and lower expenses compared to the linked quarter.

Berkshire Hills Bancorp reported a second quarter net loss of $549 million, or $10.93 per share, which included a $554 million non-cash goodwill impairment charge and a $30 million non-cash charge for projected credit losses. The company's core earnings, a non-GAAP financial measure including the $30 million credit loss provision, was a loss of $6 million, or $0.13 per share. Pre-tax pre-provision net revenue from continuing operations was ($529) million, or ($10.53) per share. The Company’s measure of Core PPNR was $0.47 per share.

Berkshire Hills Bancorp reported a GAAP net loss of $0.40 per share and a core loss of $0.07 per share for Q1 2020. The results were impacted by a non-cash $0.69 per share pre-tax provision for projected future credit losses primarily related to the COVID-19 pandemic. The company processed $650 million in loan approvals under the Paycheck Protection Program.

Berkshire Hills Bancorp reported increased GAAP earnings to $0.51 per share and improved core earnings per share to $0.70. The company's profitability measures were the best of the year, with improvements in liquidity, capital, and asset quality.