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Dec 31, 2021
Berkshire Hills Bancorp Q4 2021 Earnings Report
Reported improved fourth quarter results with EPS increasing year-over-year.
Key Takeaways
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.
Fourth quarter GAAP earnings per share increased to $0.42 in 2021 from $0.30 in 2020.
Fourth quarter adjusted EPS was also $0.42 in 2021, a 50% increase year-over-year.
Fourth quarter return on equity increased year-over-year to 6.9% in 2021, and adjusted return on tangible common equity improved to 7.3%.
Fourth quarter revenue decreased year-over-year and quarter-over-quarter.
Revenue by Segment
Forward Guidance
Berkshire Bank's strong liquidity and capital positions it well for higher expected interest rates and planned business growth in 2022. The Company targets to further lower funding costs as most of these higher cost balances mature in 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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