Welcome to our dedicated page for Berkshire Hills Bancorp news (Ticker: BHLB), a resource for investors and traders seeking the latest updates and insights on Berkshire Hills Bancorp stock.
Berkshire Hills Bancorp, Inc. (NYSE: BHLB) is the parent company of Berkshire Bank, known as 'America's Most Exciting Bank®'. With approximately $12.4 billion in assets, Berkshire Bank operates 96 financial centers across New England and New York. Headquartered in Boston, the bank provides a comprehensive suite of financial services, including Commercial Banking, Retail Banking, Consumer Lending, Private Banking, and Wealth Management.
Founded over 175 years ago, Berkshire Bank has established itself as a relationship-driven, community-focused institution, delivering financial expertise to both personal and business clients. In recent years, the bank has continued to enhance its operational efficiency and customer service. For instance, Berkshire recently announced the planned sale of ten branches in upstate and eastern New York to streamline its footprint and invest further in core areas.
In terms of financial performance, Berkshire Hills Bancorp has shown resilience despite industry challenges. For the fourth quarter of 2023, the bank reported an operating earnings of $20.2 million, achieving a steady full year net interest margin of 3.27%. The company also authorized a $40 million share repurchase program, aiming to balance capital return and growth.
Berkshire Bank is recognized for its commitment to corporate responsibility and sustainability. It has been named one of America's Most Trustworthy Companies and one of America's Best Regional Banks by Newsweek. The bank's strategic efforts are led by CEO Nitin Mhatre, who emphasizes balance sheet strength, credit performance, and operational discipline as key pillars for sustainable growth.
Financial highlights and other updates, such as earnings releases and conference calls, are regularly communicated to investors. Most recently, the bank announced its earnings for the first quarter of 2024, showing operational earnings growth and continued strong asset quality.
For more information on Berkshire Hills Bancorp, including investor relations and latest news, visit their website.
Berkshire Hills Bancorp (BHLB) has announced the approval of a stock repurchase program allowing the buyback of up to 2,500,000 shares, approximately 5% of its outstanding shares as of March 31, 2021. This program is valid through April 30, 2022, though it does not constitute a commitment to buy back shares and may occur through various methods, including open market purchases and block trades. The initiative underscores the company's approach to enhance shareholder value while navigating market opportunities.
Berkshire Hills Bancorp (NYSE: BHLB) will release its first quarter earnings on April 28, 2021, after market close.
A conference call/webcast is set for April 29 at 10:00 a.m. ET to discuss results and future guidance.
Interested participants can pre-register for the call or join by dialing 1-844-792-3726. The earnings call replay will be available until May 6, 2021.
Berkshire operates 121 banking offices across seven states, with approximately $12.8 billion in assets.
Berkshire Hills Bancorp (NYSE: BHLB) announced the appointment of Subhadeep Basu as the new Senior Executive Vice President and Chief Financial Officer, effective March 19, 2021. He succeeds James M. Moses, who is leaving to pursue other interests. Basu brings over 20 years of financial and risk management experience, most recently serving at State Street. He is expected to enhance shareholder value and improve financial flexibility as Berkshire executes its transformational strategic plan. Berkshire operates 124 banking offices across seven Northeastern states with approximately $12.8 billion in assets.
Berkshire Hills Bancorp (NYSE: BHLB) has appointed Kevin Conn as Senior Vice President for Investor Relations and Corporate Development. Conn, with over 30 years of experience in financial stocks and institutional investment, previously served as Director of Research at Hudson Executive Capital. His role will involve enhancing the investor relations program and fostering shareholder relationships. CEO Nitin Mhatre highlighted Conn's expertise in equity research and strategy, which aligns with their transformational strategic plan aimed at increasing stakeholder value.
Berkshire Hills Bancorp, Inc. (NYSE: BHLB) has announced a quarterly cash dividend of $0.12 per common share for shareholders of record on March 23, 2021. The dividend will be payable on March 30, 2021. Berkshire Hills Bancorp, the parent company of Berkshire Bank, has $12.8 billion in assets and operates 124 banking offices across seven Northeastern states. This dividend reflects the company's commitment to returning value to its shareholders amidst its business operations.
Berkshire Hills Bancorp (NYSE: BHLB) announced its intention to nominate Michael A. Zaitzeff and another director for election at the 2021 Annual Meeting on May 20, 2021. This follows a cooperation agreement with HoldCo Asset Management, which holds approximately 3.3% of BHLB's shares. Zaitzeff, co-founder of HoldCo, aims to align shareholder interests and enhance company performance. HoldCo will vote its shares in favor of BHLB's nominees.
Berkshire Hills Bancorp (NYSE: BHLB) issued a statement on February 16, 2021, addressing a letter from HoldCo Asset Management, emphasizing its commitment to enhancing shareholder value. The company has engaged in dialogue with HoldCo to understand their perspectives. On January 25, the Board appointed Nitin J. Mhatre as the new CEO, chosen for his extensive experience in banking and commitment to innovation. Berkshire operates 127 offices across seven Northeastern states, managing approximately $12.8 billion in assets.
Berkshire Hills Bancorp (NYSE: BHLB) has appointed Nitin J. Mhatre as its new President and CEO, effective January 29, 2021. This decision follows a comprehensive search led by the Board, concluding the tenure of Acting CEO Sean Gray. Mhatre brings 25 years of banking experience, previously serving as Executive VP at Webster Bank. The Board expresses confidence in Mhatre to enhance Berkshire's strategic success amid evolving customer expectations in the digital age. He aims to strengthen community engagement and improve financial performance as part of his leadership.
Berkshire Hills Bancorp (BHLB) reported a fourth-quarter 2020 net income of $15 million, or $0.30 per share, down from $21 million, or $0.42 per share, in the previous quarter. This decline is attributed to pandemic-related impacts, including a $9 million rise in noncash expected credit loss provisions. Financial highlights include a 2.61% net interest margin and a 71% efficiency ratio. Total assets grew by 2% to $12.8 billion, while total loans fell by $901 million. The bank is consolidating branches and focusing on digital banking to adapt to changing customer preferences.
Berkshire Hills Bancorp (NYSE: BHLB) will announce its fourth quarter earnings on January 25, 2021. A conference call is scheduled for January 26, 2021, at 10:00 a.m. ET to discuss these results and provide future guidance. The company operates 130 banking offices across seven Northeastern states, managing approximately $12.6 billion in assets. Investors can pre-register for the call to receive dial-in instructions. The earnings release and conference call details are available through the investor section of Berkshire's website.
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