Berkshire Hills Bancorp(US:BHLB)2022-01-20 17:18Financial 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]