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) has declared a quarterly cash dividend of $0.12 per common share, payable to shareholders on May 26, 2022, with a record date of May 12, 2022. This decision reflects the company's commitment to return value to its investors. Berkshire Bank, the parent company, manages approximately $12.1 billion in assets and operates 105 branches across New England and New York, focusing on socially responsible banking services.
Berkshire Hills Bancorp (NYSE: BHLB) reported a 62% year-over-year increase in first-quarter earnings per share (EPS) to $0.42, with adjusted EPS rising 37% to $0.43. Loan growth of 6% quarter-over-quarter, alongside a $4 million benefit from a release of the credit loss allowance, contributed to the strong performance. Asset quality improved, with non-performing assets declining to 0.26% of total assets. Despite a 7% reduction in total shareholders' equity, the company's position is poised for future growth in a rising rate environment. Berkshire also introduced a $140 million share repurchase program.
Berkshire Hills Bancorp (BHLB) is set to release its first quarter earnings on April 20, 2022, before the market opens. An investor presentation will be available on their website. A conference call will take place at 10:00 a.m. ET on the same day to discuss the results and provide guidance on future performance. Participants can pre-register for the call for immediate access.
Berkshire Hills Bancorp, Inc. (NYSE: BHLB) has expanded its partnership with financial technology firm Narmi to enhance digital banking services. This collaboration aims to launch an advanced mobile app and online banking platform by early next year, allowing for a streamlined banking experience for consumers and small businesses. Key features will include a unified dashboard, personalized tools, and seamless money transfers, supporting Berkshire's DigiTouch strategy to blend personal service with digital convenience.
Berkshire Hills Bancorp (NYSE: BHLB) announced the election of Mihir A. Desai to its Board of Directors effective March 10, 2022. Desai, an esteemed professor at Harvard, brings extensive expertise in finance and law, expected to enhance the board's governance and support Berkshire's strategic transformation plan. He's appointed to both the Compliance & Regulatory and Risk Management & Capital Committees. Chairperson David M. Brunelle and CEO Nitin Mhatre emphasized that Desai's insights will be invaluable for stakeholders and assist in the company's commitment to socially responsible banking.
Berkshire Hills Bancorp, Inc. (NYSE: BHLB) announced that CEO Nitin Mhatre will discuss the company’s Digital Banking Transformation at the KBW Winter Financial Services Symposium on February 17, 2022. He will be joined by Narmi Co-Founder Nikhil Lakhanpal and KBW's Mike Perito to explore lessons learned from Berkshire's strategic digital evolution, aimed at enhancing customer satisfaction through a blend of traditional banking expertise and fintech partnerships. With $11.6 billion in assets and 106 branches across New England and New York, Berkshire Bank continues its commitment to socially responsible banking.
Berkshire Hills Bancorp (NYSE: BHLB) announced a quarterly cash dividend of $0.12 per common share. Shareholders of record as of February 10, 2022 will receive this dividend on February 24, 2022. Berkshire Hills Bancorp, headquartered in Boston, has approximately $11.6 billion in assets and operates 106 branches across New England and New York, emphasizing its role as a socially responsible community bank. The announcement reflects the company's commitment to returning value to shareholders.
Berkshire Hills Bancorp (NYSE: BHLB) reported significant growth for Q4 2021, with earnings per share (EPS) soaring 40% year-over-year to $0.42. Full-year EPS stood at $2.39, a turnaround from a loss of ($10.60) in 2020. Key highlights include a 4% rise in non-interest income and a 45% reduction in non-performing assets. The bank's strategic initiatives under the BEST plan are set to enhance stakeholder value. Additionally, a $140 million share repurchase has been authorized, reflecting confidence in the company's robust liquidity and capital position.
Berkshire Hills Bancorp (NYSE: BHLB) has announced a share repurchase program approved by its Board of Directors, allowing the company to buy back up to $140 million of its common stock by December 31, 2022. This move could lead to the repurchase of approximately 9% of outstanding shares based on current prices. The company aims to return excess capital to shareholders while supporting its strategic transformation and operating plans aimed at improving market share. This follows a 5% repurchase in 2021.
Berkshire Hills Bancorp (NYSE: BHLB) will release its fourth quarter earnings on January 20, 2022, before market opening. Alongside the earnings report, an investor presentation will be available on its website. A conference call/webcast to discuss the results and future guidance is scheduled for 10:00 a.m. ET on the same day. Participants can pre-register for the call online to receive dial-in instructions. Berkshire operates with approximately $11.8 billion in assets and 106 branches in New England and New York.
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