Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share BHLB The New York Stock Exchange 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: June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from t ...

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Q2 2022 Earnings Conference Call July 20, 2022 10:00 AM ET Company Participants Kevin Conn - IR, Corporate Development Officer Nitin Mhatre - President, CEO Subhadeep Basu - CFO Greg Lindenmuth - CRO Conference Call Participants Mark Fitzgibbon - Piper Sandler Bill Young - RBC Chris O'Connell - KBW Laurie Hunsicker - Compass Point Operator Hello, and welcome to today's Berkshire Hills Bancorp Second Quarter 2022 Earnings Conference Call. My name is Elliot, and I wil ...

Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share BHLB The New York Stock Exchange 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, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ...

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Q1 2022 Earnings Conference Call April 20, 2022 10:00 AM ET Company Participants Kevin Conn - SVP, IR & Corporate Development Nitin Mhatre - President, CEO & Director Subhadeep Basu - Senior EVP & CFO Conference Call Participants Mark Fitzgibbon - Piper Sandler & Co. Bill Young - RBC Capital Markets Chris O'Connell - KBW Operator Good morning or good afternoon all, and welcome to the Berkshire Hills Bancorp Q1 Earnings Release Conference Call. My name is Adam, and I ...

BERKSHIRE HILLS BANCORP 1Q 2022 EARNINGS PRESENTATION April 20, 2022 F ORWAR D -L OOK I N G S TAT E M E N T S 2 This document contains "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding our outlook for earnings, net interest margin, fees, expenses, tax rates, capital and liquidity levels and other matters regarding or affecting Berkshire and its future bus ...

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, 2021 ☐ 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 ...

Financial Performance and Key Metrics - The company reported a fourth quarter EPS of $0.42, up 50% year-over-year, although it was lower than the third quarter [5] - Revenues for the quarter decreased year-over-year due to a reduction in loan balances, with adjusted expenses down 4% year-over-year [6][15] - The adjusted return on tangible common equity (ROTCE) improved to 7.3% from 5.5% a year ago [6] Business Line Performance - The company experienced over 200% year-over-year growth in loan origination, marking the first quarter of growth in core loan balances after nine quarters of decline [7] - Fee income grew by 25%, offsetting an 8% decline in net interest income, driven by strong performance in SBA and Wealth Management fees [15][23] Market Data and Key Indicators - The total average loan portfolio decreased year-over-year, primarily due to the runoff of PPP and non-strategic portfolios [19] - The investments portfolio increased by 35% year-over-year, with cash deployed into high-yielding securities [20] Company Strategy and Industry Competition - The company is focused on a three-year BEST plan, which includes streamlining operations and enhancing customer experience through technology [12][10] - The company aims to become a top-performing, socially responsible community bank in New England and beyond, with a focus on organic growth and efficiency [13][31] Management's Comments on Operating Environment and Future Outlook - Management expects low to mid-single-digit loan growth and low single-digit deposit growth in 2022, with net interest income projected to increase in the mid-single-digit percentage range [27][26] - The company anticipates continued improvement in the credit environment and plans to reach Day 1 CECL reserves to loans by the third quarter of 2022 [28] Other Important Information - The company returned a total of $92 million in capital to shareholders in 2021, representing 109% of adjusted net income, and announced a new stock repurchase plan of $140 million [9][12] - The company consolidated 16 branches and outsourced servicing activities to enhance efficiency [12][24] Q&A Session Summary Question: Loan growth guidance and drivers - Management indicated that loan growth is expected to be driven by commercial and industrial (C&I) and commercial real estate, with a downward trend in prepayment activity noted [33][34] Question: Net interest margin (NIM) expansion - Management confirmed that NIM is expected to trend higher, with a balanced approach to deploying cash between loan growth and investments [35] Question: Hiring of commercial bankers - The company plans to grow frontline hires by about 40% over the three-year BEST plan, with the fourth quarter seeing the highest number of hires in 2021 [36][37] Question: Stock buyback valuation - Management stated that buyback decisions are based on intrinsic valuation and peer comparisons, with an opportunistic approach to executing the buyback program [38] Question: Net interest income guidance - The guidance for net interest income growth is based on a projection of approximately $290 million, with expectations for mid-single-digit growth [41][42] Question: Consumer loan growth and charge-off guidance - The company plans to add about $100 million in Upstart loans, maintaining a net charge-off guide of 4% to 5% for those loans [58][62]

Financial Performance - Adjusted EPS for 4Q21 was $0.42, an increase of approximately 50% year-over-year[4] - Adjusted revenue for 4Q21 was $89.8 million, a decrease of 6% year-over-year[4] - Adjusted expenses for 4Q21 were $68.5 million, a decrease of 4% year-over-year[4] - Adjusted ROTCE for 4Q21 was 7.34%, an increase of 184 bps year-over-year[4] - Adjusted EPS for FY2021 was $1.69, compared to $0.60 in 2020[4] - Adjusted revenue for FY2021 was $382.3 million, compared to $389.4 million in 2020[4] - Adjusted expenses for FY2021 were $280.1 million, compared to $280.6 million in 2020[4] - Adjusted ROTCE for FY2021 was 7.74%, compared to 3.18% in 2020[4] Balance Sheet Strength - Authorization for $140 million stock repurchase, representing approximately 9% of outstanding shares at the current price[4] - Non-Performing Assets (NPAs) were at $37.1 million, a decrease of 45% year-over-year[4] - Net Charge-Offs (NCOs) were at $3.8 million, a decrease of 78% year-over-year[4] Loan Portfolio - Total loan modifications decreased year-over-year from $350 million to $14 million[9] - COVID-sensitive Non-Performing Loans (NPLs) decreased year-over-year from $36 million to $5 million[9]

Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share BHLB The New York Stock Exchange 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: September 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period f ...

Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Q3 2021 Earnings Conference Call October 21, 2021 10:00 AM ET Company Participants Kevin Conn - IR and Corporate Development Officer Nitin Mhatre - President and CEO Subhadeep Basu - CFO Sean Gray - COO Greg Lindenmuth - CRO Conference Call Participants Mark Fitzgibbon - Piper Sandler David Bishop - Seaport Research Partners Steven Duong - RBC Capital Markets Laurie Hunsicker - Compass Point Operator Hello, and welcome to the Berkshire Hills Bancorp Q3 Earnings Rele ...