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 (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.
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