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.
This page provides a historical and transitional news feed for Berkshire Hills Bancorp, Inc. under the former NYSE symbol BHLB, as well as context for its evolution into Beacon Financial Corporation. Company press releases and SEC-related announcements show that Berkshire Hills Bancorp functioned as the parent of Berkshire Bank, a community-focused bank with assets in the billions and dozens of financial centers in New England and New York, offering commercial, retail, wealth and private banking solutions.
News items for BHLB include quarterly earnings releases detailing net interest income, net interest margin, operating earnings per share, efficiency ratios, loan and deposit trends, and asset quality metrics. These releases also highlight management commentary on transformation programs, branch network sales and consolidations, loan portfolio sales, and community-focused initiatives. Regular dividend announcements, including quarterly cash dividends declared by the Board of Directors, form another recurring category of news.
A major theme in later BHLB news is the merger of equals with Brookline Bancorp, Inc. Press releases and Form 8-K filings describe the announcement of the merger agreement, the receipt of regulatory approvals from banking regulators, and the anticipated and then completed closing of the transaction. Subsequent disclosures confirm the change of the holding company’s name to Beacon Financial Corporation and the change of its New York Stock Exchange ticker from BHLB to BBT, as well as the consolidation of Berkshire Bank, Bank Rhode Island and PCSB Bank into Brookline Bank under the Beacon Bank & Trust name.
By reviewing the news associated with BHLB, readers can follow the company’s financial performance, dividend history, strategic initiatives and the steps leading to its transformation into Beacon Financial Corporation. For ongoing updates after the merger and ticker change, investors should refer to news released under the Beacon Financial Corporation name and BBT symbol.
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.