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Dec 31, 2023
Berkshire Hills Bancorp Q4 2023 Earnings Report
Berkshire Hills Bancorp reported fourth quarter results, showing continued balance sheet strength and cost discipline, despite a decrease in net interest margin.
Key Takeaways
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.
Operating earnings for the fourth quarter were $20.2 million.
Net interest margin decreased to 3.11 percent.
The Board authorized the repurchase of $40 million of common stock.
A securities sale resulted in a $25.1 million non-operating loss.