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Dec 31, 2020
Berkshire Hills Bancorp Q4 2020 Earnings Report
Berkshire Hills Bancorp announced Q4 2020 results, with net income of $15 million and EPS of $0.30.
Key Takeaways
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.
Net income for Q4 2020 was $15 million, or $0.30 per share.
Core earnings for Q4 2020 totaled $14 million, or $0.28 per share.
Total assets increased to $12.8 billion.
Strategic initiatives announced include branch consolidations and sale of mid-Atlantic branches.
Berkshire Hills Bancorp
Berkshire Hills Bancorp
Forward Guidance
Berkshire Hills Bancorp has announced strategic initiatives for the sale and consolidation of branches in the first half of 2021. The Company expects to recognize a noncore net gain on the sale of these operations and non-core charges in conjunction through these consolidations.