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Berkshire Hills Bancorp

🇺🇸 NYSE:BBT

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Overview Earnings Dividends

Oct 24, 2024

•

Sep 30, 2024

Berkshire Hills Bancorp Q3 2024 Earnings Report

Berkshire Hills Bancorp reported higher net income and operating EPS increased.

Key Takeaways

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.

GAAP income was $37.5 million, or $0.88 per share.

Operating earnings totaled $24.8 million, or $0.58 per share.

Total loans decreased $16 million linked quarter to $9.21 billion.

Total deposits decreased $44 million to $9.58 billion.

Total Revenue

$88.1M

Previous year: $90.3M

-2.5%

EPS

$0.58

Previous year: $0.5

+16.0%

Gross Profit

$58.3M

Previous year: $108M

-45.9%

Cash and Equivalents

$570M

Previous year: $663M

-14.1%

Free Cash Flow

$46.4M

Previous year: $43.7M

+6.3%

Total Assets

$11.6B

Previous year: $12.1B

-4.1%

Berkshire Hills Bancorp

Forward Guidance

Berkshire will conduct a conference call/webcast at 9:00 a.m. eastern time on Thursday, October 24, 2024 to discuss results for the quarter and provide guidance about expected future results.

Company Overview

Full financial data and analysis

View Berkshire Hills Bancorp