Berkshire Hills Bancorp Inc Reports Q4 Operating EPS of $0.60, Beating Estimates; Revenue at $86.9 Million, Slightly Below Expectations

Strong Performance Amid Strategic Initiatives and Merger Plans

Jan 30, 2025

Summary

GAAP EPS: Reported at $0.46, missing the estimated EPS of $0.53.
Operating EPS: Achieved $0.60, surpassing the estimated EPS of $0.53, reflecting a 3% increase quarter-over-quarter and a 28% rise year-over-year.
Net Income: Fourth quarter net income reached $19.7 million, a significant improvement from a loss of $1.4 million in the same quarter last year.
Revenue: Net interest income decreased to $86.9 million from $88.1 million in the previous quarter, with non-interest income at $23.3 million.
Loan and Deposit Growth: Average deposits grew by 3% and average loans by 0.4% quarter-over-quarter, with a loans-to-deposits ratio improvement.
Asset Quality: Delinquent and non-performing loans to total loans ratio at 0.52%, the lowest in nearly two decades.
Equity and Capital: Total shareholders’ equity increased by 9% linked quarter, supported by a $100 million common stock issuance.

Berkshire Hills Bancorp Inc (BHLB, Financial) released its 8-K filing on January 30, 2025, reporting robust fourth-quarter results for 2024. The company, a holding

Explore the complete 8-K earnings release (here) from Berkshire Hills Bancorp Inc for further details.

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