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 (BHLB) delivers community-focused banking services across the Northeastern U.S., specializing in commercial lending, wealth management, and retail solutions. This news hub provides investors and stakeholders with essential updates directly from the company and trusted financial sources.
Access curated press releases and analysis covering earnings announcements, strategic initiatives, and leadership developments. Track BHLB's progress in digital banking innovation, branch network optimization, and community reinvestment programs that define its market position.
All content is organized for quick scanning, featuring regulatory filings, merger activity, and service expansions. Bookmark this page for real-time updates on one of New England's prominent financial institutions, combining traditional relationship models with modern banking efficiency.
Berkshire Hills Bancorp reported its Q1 2023 financial results, showing a 5% growth in average loans but a 1% decline in average deposits. The company achieved a tangible book value per share of $21.89, reflecting a 4% increase.
Net income for the quarter was $27.6 million, down from $30.5 million in the previous quarter. Net interest income decreased to $97.5 million, with a margin of 3.58%, impacted by higher funding costs. The bank's non-interest income rose slightly to $16.6 million.
Key metrics included a loan-to-deposit ratio of 86% and a common equity Tier 1 ratio of 12.1%. Notably, the board was enhanced with the addition of two experienced members.
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