BOSTON, Jan. 12, 2024 /PRNewswire/ -- The Berkshire Hills Bancorp, Inc. (NYSE: BHLB) fourth quarter 2023 earnings release and conference call are scheduled as follows:Earnings Release: Thursday, January 25, 2024, at approximately 7:30 a.m. (Eastern)Conference Call: Thursday, January 25, 2024, at 9:00 a.m. (Eastern)Webcast (listen-only): Register at: https://events.q4inc.com/attendee/627795005Dial-in Number: Toll Free: 888-259-6580; Conference ID: 33077376Webcast Replay: https://ir.berkshirebank.com (for the ...

Management has identified the Company's most critical accounting policies as related to: CORPORATE RESPONSIBILITY UPDATE 76 For additional discussion about the Company's Quantitative and Qualitative Aspects of Market Risk, please review Item 7A of the most recent report on Form 10-K which sets forth the methodologies employed by the Company and the various aspects of its analysis of its interest rate sensitivity. Net Interest Income at Risk Simulation is used to measure the sensitivity of net interest incom ...

Financial Data and Key Metrics Changes - Operating earnings for Q3 2023 were $21.5 million or $0.50 per fully diluted share, down $0.05 linked quarter and down $0.12 year-over-year [10] - Average loans increased by $161 million or 2% linked quarter, while average deposits increased by $62 million or 1% [11] - Net interest margin (NIM) was 3.18%, down 6 basis points linked quarter and down 30 basis points year-over-year [34] - Net interest income declined by $2.4 million or 3% linked quarter and was down $1.8 million or 2% year-over-year [34] Business Line Data and Key Metrics Changes - Average loan balances showed balanced growth across commercial and consumer loans [7] - Operating noninterest income was up 2% in the quarter and up 7% year-over-year [11] - Deposit-related fees increased by $221,000, while loan and other fees decreased by $310,000 [37] Market Data and Key Metrics Changes - Deposits were stable, up 1% linked quarter on an average balance basis, but down 1% on an end-of-period basis [4] - Noninterest-bearing deposits as a percentage of total average deposits decreased to 26% in Q3 from 27% in Q2 [13] - The deposit cost was 181 basis points, up 30 basis points from the second quarter [36] Company Strategy and Development Direction - The company is focused on rationalizing its real estate footprint, including the consolidation of four branches and the sale of one office building [31] - The company is committed to managing expenses with discipline and transparency, instituting biweekly meetings to review vendor expenses and hiring requests [16] - The company aims to improve its medium-term performance despite the current operating environment presenting headwinds [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of the Northeast markets and acknowledged typical banking industry cyclicality issues such as NIM compression [20] - The company is focused on controlling its operational environment through opportunistic hiring and rigorous expense management [21] - Management expects credit costs to increase modestly but significantly lower than during the Global Financial Crisis [43] Other Important Information - The company repurchased $3.9 million of stock at an average cost of $20.01, believing its stock is undervalued [42] - The company’s ESG score remains in the top quartile at the 19th percentile nationally [9] - The company has added a new ROTCE calculation to align its reporting with peers [32] Q&A Session Summary Question: Should we expect more branch consolidations and restructuring charges in coming quarters? - Yes, the company is constantly evaluating opportunities for consolidation while retaining clients and bankers [45] Question: Where would you expect the effective rate to settle out? - The company anticipates a mid single-digit decline in NIM due to competitive pressures around deposits [26] Question: What are your thoughts on growing or shrinking tax credit investments over time? - The company is still working through tax credit investments and will provide more clarity in January [47] Question: What is your outlook on loan growth for the second half of the year? - The company expects to be on the lower end of the $9.2 billion to $9.4 billion target due to a slowdown in pipelines [71] Question: Can you provide updates on the overall office portfolio and market conditions? - The company has not seen early signs of weakness in the office portfolio and is monitoring credit quality closely [110]

Securities available for sale and held to maturity with unrealized losses, segregated by the duration of their continuous unrealized loss positions, are summarized as follows: Less Than Twelve Months Over Twelve Months Total Gross Gross Gross Unrealized Fair Unrealized Fair Unrealized Fair (In thousands) Losses Value Losses Value Losses Value June 30, 2023 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS AFS municipal bonds and obligations AFS commercial and residential mortgage-backed securities AFS other bonds ...

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Q2 2023 Earnings Conference Call July 20, 2023 10:00 AM ET Company Participants Kevin Conn - SVP of IR & Corporate Development Nitin Mhatre - President and CEO David Rosato - CFO Conference Call Participants David Bishop - Hovde Group Bill Young - RBC Capital Markets Mark Fitzgibbon - Piper Sandler Chris O'Connell - KBW Operator Good morning, ladies and gentlemen. And welcome to the Berkshire Hills Bancorp Second Quarter 2023 Earnings Conference Call. At this tim ...

2Q 2023 EARNINGS PRESENTATION F ORWAR D -L OOK I N G S TAT E M E N T S NON-GAAP FINANCIAL MEASURES • Net Income of $23.9M (-14% QoQ and +1% YoY) • ROTCE of 8.27% (-132 bps QoQ and -21 bps YoY) BEST Strategic Progress • Completed allocation of $100 million Sustainability Bond in 2Q23 BEST 3 YEAR TARGETS for JUNE 2024 10-12% 100-105 bps $180-200M Top 25% Top 25% ROA Increase ROA by 75-80bps* PPNR2 Increase PPNR by $80-100M* ROTCE Increase ROTCE by 700-900bps* ESG Become top quartile bank by leading ESG indexe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-15781 BERKSHIRE HILLS BANCORP, INC. (Exact name of registrant as specified in its charter) Delaware 04-3510455 (State or other jurisdiction ...

Start Time: 10:00 January 1, 0000 10:47 AM ET Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Q1 2023 Earnings Conference Call April 20, 2023, 10:00 AM ET Company Participants Nitin Mhatre - President and CEO David Rosato - CFO Greg Lindenmuth - CRO Kevin Conn - IR, Corporate Development Officer Conference Call Participants Billy Young - RBC Capital Markets Mark Fitzgibbon - Piper Sandler David Bishop - Hovde Group Chris O’Connell - KBW Operator Hello, everyone, and welcome to the Berkshire Hills Bancorp First Qu ...

COMMERCIAL REAL ESTATE VS. PEERS 10 Year Avg. 0.36% 0.26% 0.09% 0.01% -0.01% -0.02% 1Q22 2Q22 3Q22 4Q22 1Q23 S U P E R V I S O R Y C R E / T R B C C O N S T R U C T I O N / T R B C 259% 4Q21 333% 4Q22 333% 223% 39% 4Q21 26% 4Q22 26% 38% 300% 100% BHLB Peer Median Federal Monitoring Guideline C R E N C O / A V G . C R E L O A N S Annualized CRE NCO/ Avg. CRE Loans | --- | --- | --- | --- | --- | |-------|-------|--------------|------------------------|-------| | | | 10 Year Avg. | CRE NPL/ EOP CRE Loans | 0. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-15781 Delaware 04-3510455 (I.R.S. Employer Identification No.) 60 State Street Boston Massachusetts 02109 (Address of principal ...