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 (BHLB) delivers community-focused banking services across the Northeastern U.S., specializing in commercial lending, wealth management, and retail solutions. This news hub provides investors and stakeholders with essential updates directly from the company and trusted financial sources.
Access curated press releases and analysis covering earnings announcements, strategic initiatives, and leadership developments. Track BHLB's progress in digital banking innovation, branch network optimization, and community reinvestment programs that define its market position.
All content is organized for quick scanning, featuring regulatory filings, merger activity, and service expansions. Bookmark this page for real-time updates on one of New England's prominent financial institutions, combining traditional relationship models with modern banking efficiency.
Berkshire Hills Bancorp (NYSE: BHLB) has announced a quarterly cash dividend of $0.18 per common share. The dividend will be paid on October 10, 2024, to shareholders of record at the close of business on September 30, 2024. This announcement demonstrates the company's commitment to providing regular returns to its shareholders and reflects its current financial stability. The consistent dividend payout may be viewed positively by income-focused investors, potentially supporting the stock's appeal in the market.
Arrow Financial (NasdaqGS® - AROW) has completed the acquisition of the Whitehall, New York branch from Berkshire Bank. The transaction, which closed on August 2, 2024, included:
- Deposit accounts with an approximate balance of $37.5 million
- Loans with an approximate balance of $3 million
- The branch premises and substantially all related property and equipment
This strategic move expands Glens Falls National Bank's presence in Washington County to nine branches. All on-site employees of the Whitehall branch have been retained. The acquisition aligns with Arrow's commitment to broadening its presence, enhancing offerings, and increasing shareholder value.
Berkshire Hills Bancorp (NYSE: BHLB) reported solid Q2 2024 results with net income of $24.0 million, or $0.57 per share. Operating EPS increased 12% to $0.55, driven by 3% growth in operating revenue and a 2% decrease in operating expenses. Key highlights include:
- Net interest margin improved to 3.20%, up 5 basis points
- Net loan charge-offs were low at 7 basis points annualized
- Loan growth of $143 million, primarily in commercial loans
- Efficiency ratio improved to 63.4% from 66.3%
- Tangible book value per share increased to $23.18
The company completed the consolidation of three branch offices and remains on track to conclude the sale of ten offices in H2 2024. Berkshire also bolstered its cash management and government banking capabilities through promotions and new hires.
Berkshire Hills Bancorp (NYSE: BHLB) has announced its second quarter 2024 earnings release and conference call schedule.
The earnings release will be published on July 18, 2024, at approximately 7:30 a.m. (Eastern Time). This will be followed by a conference call at 9:00 a.m. on the same day.
Interested parties can listen to the live webcast by registering at https://events.q4inc.com/attendee/633018241 or dial in toll-free at 800-549-8228 using Conference ID 27778. A webcast replay will be available at https://ir.berkshirebank.com, and a telephone replay can be accessed using toll-free number 888-660-6264 with the passcode 27778#.
Investor presentation materials will be made available before the conference call at ir.berkshirebank.com. Participants are encouraged to join a few minutes before the scheduled start time.
Berkshire Hills Bancorp (NYSE: BHLB) has declared a quarterly cash dividend of $0.18 per common share. The dividend is payable on June 28, 2024, to shareholders on record as of June 20, 2024. This announcement reflects the bank's ongoing commitment to returning value to its shareholders.
Berkshire Hills Bancorp (NYSE: BHLB) announced the results of its Annual Meeting held on May 16, 2024. All three proposals were approved by shareholders, with a quorum of approximately 91% of outstanding shares. All eleven director nominees, including CEO Nitin Mhatre, were elected to serve a one-year term, each receiving at least 96% support.
Executive compensation practices were also approved, and Crowe LLP was ratified as the independent registered public accounting firm for fiscal year 2024. CEO Nitin Mhatre thanked board members and retiring directors for their service and recognized the hard work of Berkshire’s employees.
The company highlighted its strong performance in 2023, with a 10% operating return on tangible common equity and increased annual dividends per share. CEO Mhatre emphasized that Berkshire continues to build momentum for long-term shareholder returns and aims to become a high-performing, community-focused bank.
Berkshire Hills Bancorp (NYSE: BHLB) announced CFO R. David Rosato will step down on June 14, 2024, with Chief Accounting Officer Brett Brbovic succeeding him. Rosato's tenure saw significant financial improvements, including balance sheet strengthening, expense management, and divesting 10 financial centers. Brbovic, a company veteran since 2012, previously served as Interim CFO and brings deep institutional knowledge. CEO Nitin Mhatre praised Rosato's contributions and expressed confidence in Brbovic's ability to drive continued growth and profitability.
