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Mar 31, 2024
Berkshire Hills Bancorp Q1 2024 Earnings Report
Berkshire Hills Bancorp reported a solid start to the year with increased operating earnings, loan growth, and maintained asset quality and capital strength. The company announced a securities sale and key hires.
Key Takeaways
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.
Operating earnings increased, growing loans, and maintaining solid asset quality and capital strength.
Announced the planned sale of ten branches to enhance efficiency and profitability.
Sold $362 million in securities, resulting in a $49.9 million non-operating charge.
Common equity Tier 1 ratio remained a healthy 11.6 percent at period-end.
Berkshire Hills Bancorp
Berkshire Hills Bancorp
Berkshire Hills Bancorp Revenue by Segment
Revenue by Segment
Deposit related fees Revenue
CapyFin.comGain on SBA loans Revenue
CapyFin.comWealth management fees Revenue
CapyFin.comLoan related fees Revenue
CapyFin.comFair value adjustments on securities Revenue
CapyFin.comOther non-interest income Revenue
CapyFin.com Forward Guidance
Berkshire Hills Bancorp provided guidance about expected future results during their conference call/webcast on April 18, 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income