Berkshire Hills Bancorp, Inc. (BHLB) Income Statement Analysis

See more : Nuh Çimento Sanayi A.S. (NUHCM.IS) Income Statement Analysis – Financial Results

Complete financial analysis of Berkshire Hills Bancorp, Inc. (BHLB) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Berkshire Hills Bancorp, Inc., a leading company in the Banks – Regional industry within the Financial Services sector.

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Berkshire Hills Bancorp, Inc. (BHLB)

Industry: Banks - Regional

Sector: Financial Services

Website: https://www.berkshirebank.com

About Berkshire Hills Bancorp, Inc.

Berkshire Hills Bancorp, Inc. operates as the bank holding company for Berkshire Bank that provides various banking products and services. It offers various deposit accounts, including demand deposit, NOW, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts; and loans, such as commercial real estate, commercial and industrial, consumer, and residential mortgage loans. The company also provides wealth management services comprising investment management, trust administration, and financial planning; and investment products, financial planning, and brokerage services. In addition, it offers electronic banking, commercial cash management, online banking, small business banking, asset based lending, and mobile banking services; and debit cards and other electronic fee producing payment services to transaction account customers. The company serves personal, commercial, non-profit, and municipal deposit customers. As of March 14, 2022, it operated 106 full-service branches in Massachusetts, New York, Connecticut, and Vermont. The company also has commercial banking offices in Providence, Rhode Island and New Haven, Connecticut. Berkshire Hills Bancorp, Inc. was founded in 1846 and is headquartered in Boston, Massachusetts.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999
Revenue	576.30M	413.53M	381.47M	381.85M	447.91M	468.78M	420.19M	297.03M	268.14M	226.46M	226.98M	197.44M	142.32M	108.11M	98.59M	107.34M	89.75M	72.29M	66.54M	48.12M	51.28M	54.12M	50.61M	42.30M	35.84M
Cost of Revenue	253.36M	241.78M	247.25M	0.00	0.00	248.32M	227.00M	161.52M	0.00	0.00	119.16M	104.42M	78.17M	65.01M	63.85M	62.11M	55.62M	41.09M	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	322.94M	171.76M	134.22M	381.85M	447.91M	220.45M	193.19M	135.51M	268.14M	226.46M	107.83M	93.02M	64.16M	43.09M	34.74M	45.22M	34.13M	31.20M	66.54M	48.12M	51.28M	54.12M	50.61M	42.30M	35.84M
Gross Profit Ratio	56.04%	41.53%	35.19%	100.00%	100.00%	47.03%	45.98%	45.62%	100.00%	100.00%	47.51%	47.11%	45.08%	39.86%	35.24%	42.13%	38.03%	43.16%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	166.30M	152.74M	184.39M	186.08M	171.29M	199.52M	185.34M	129.55M	118.90M	100.82M	87.55M	76.93M	62.30M	60.35M	38.28M	38.28M	34.02M	24.71M	20.28M	16.88M	21.22M	28.49M	17.59M	13.63M	13.77M
Selling & Marketing	5.38M	5.10M	2.75M	3.70M	4.47M	7.98M	11.88M	3.16M	3.31M	2.57M	2.60M	2.03M	6.21M	5.19M	10.67M	0.00	0.00	0.00	0.00	991.00K	678.00K	648.00K	629.00K	578.00K	599.00K
SG&A	171.68M	152.74M	184.39M	189.78M	175.76M	207.50M	197.21M	132.71M	122.21M	103.39M	90.15M	78.96M	68.50M	60.35M	48.95M	38.28M	34.02M	24.71M	20.28M	17.87M	21.90M	29.14M	18.22M	14.21M	14.37M
Other Expenses	0.00	-89.39M	-416.84M	-1.12B	-503.76M	-431.04M	-137.36M	-65.63M	-293.99M	-247.70M	0.00	0.00	0.00	0.00	-61.67M	0.00	0.00	0.00	-87.25M	-28.12M	-40.40M	-57.70M	-22.01M	-16.10M	-15.67M
Operating Expenses	253.90M	5.10M	-232.45M	-934.72M	-328.00M	-223.54M	11.88M	3.16M	-171.78M	-144.31M	2.60M	2.03M	6.21M	5.19M	-12.72M	48.86M	19.41M	66.07M	-66.97M	-10.25M	-18.50M	-28.56M	-3.79M	-1.89M	-1.30M
Cost & Expenses	253.90M	248.28M	-232.45M	-934.72M	-328.00M	-223.54M	238.88M	164.68M	-171.78M	-144.31M	121.75M	106.45M	84.38M	70.20M	63.85M	110.97M	75.03M	107.16M	-66.97M	-10.25M	-18.50M	-28.56M	-3.79M	-1.89M	-1.30M
Interest Income	576.30M	387.26M	329.07M	409.78M	509.51M	471.16M	360.26M	280.44M	247.03M	207.04M	203.74M	175.94M	138.26M	112.28M	115.48M	133.21M	131.94M	118.05M	87.73M	61.08M	56.31M	64.13M	75.80M	71.02M	58.47M
Interest Expense	207.25M	42.66M	37.90M	93.00M	144.26M	111.83M	65.46M	48.17M	33.18M	28.35M	34.99M	32.55M	31.74M	35.33M	45.88M	57.47M	68.02M	57.81M	36.12M	20.72M	18.74M	23.43M	33.56M	33.47M	26.92M
Depreciation & Amortization	13.27M	14.71M	16.24M	18.10M	16.70M	15.38M	13.41M	11.32M	3.56M	4.81M	5.27M	5.34M	4.24M	3.02M	3.28M	7.67M	7.78M	8.79M	4.76M	3.19M	4.11M	4.17M	3.18M	2.42M	2.81M
EBITDA	0.00	-513.18M	118.66M	-514.93M	101.52M	214.86M	121.38M	88.77M	91.42M	58.62M	70.62M	0.00	0.00	0.00	0.00	0.00	13.54M	10.89M	0.00	21.36M	0.00	0.00	0.00	0.00	0.00
EBITDA Ratio	0.00%	41.40%	43.32%	-143.17%	28.06%	55.67%	42.51%	46.10%	37.26%	38.40%	46.53%	45.76%	42.59%	55.52%	25.66%	89.62%	105.38%	114.17%	85.81%	85.32%	71.92%	54.94%	98.79%	101.27%	104.20%
Operating Income	317.57M	156.48M	149.02M	-552.87M	119.91M	245.24M	121.38M	115.76M	96.36M	82.15M	41.14M	33.83M	16.67M	42.08M	22.02M	22.24M	13.54M	10.89M	-431.00K	37.87M	32.77M	25.56M	46.82M	40.41M	34.54M
Operating Income Ratio	55.10%	37.84%	39.06%	-144.79%	26.77%	52.31%	28.89%	38.97%	35.94%	36.28%	18.13%	17.13%	11.71%	38.92%	22.34%	20.72%	15.08%	15.07%	-0.65%	78.70%	63.91%	47.23%	92.51%	95.54%	96.36%
Total Other Income/Expenses	-239.25M	626.99M	-41.11M	-19.85M	22.46M	-56.76M	-21.63M	-38.30M	-36.84M	-35.77M	-41.58M	-24.89M	-17.83M	-24.23M	-27.72M	8.81M	5.24M	4.67M	-10.98M	0.00	-18.74M	-23.43M	-33.56M	-33.47M	-26.92M
Income Before Tax	78.32M	113.82M	149.02M	-533.03M	123.98M	133.41M	99.75M	77.45M	54.58M	45.51M	58.25M	47.05M	18.71M	17.85M	-27.72M	31.06M	18.77M	15.56M	16.23M	17.58M	14.03M	2.13M	13.26M	6.94M	7.62M
Income Before Tax Ratio	13.59%	27.52%	39.06%	-139.59%	27.68%	28.46%	23.74%	26.08%	20.36%	20.09%	25.66%	23.83%	13.14%	16.51%	-28.11%	28.93%	20.92%	21.53%	24.39%	36.53%	27.36%	3.94%	26.20%	16.41%	21.25%
Income Tax Expense	8.72M	21.29M	30.36M	-19.85M	22.46M	27.65M	44.50M	18.78M	5.06M	11.76M	17.10M	13.22M	2.04M	4.11M	-11.65M	8.81M	5.24M	4.67M	8.00M	5.64M	5.07M	362.00K	4.35M	2.36M	2.00M
Net Income	69.60M	92.53M	118.66M	-513.18M	97.45M	105.77M	55.25M	58.67M	49.52M	33.74M	41.14M	33.19M	17.58M	13.74M	-16.07M	22.24M	13.54M	11.26M	8.23M	11.51M	8.97M	1.77M	8.91M	4.58M	5.62M
Net Income Ratio	12.08%	22.38%	31.11%	-134.39%	21.76%	22.56%	13.15%	19.75%	18.47%	14.90%	18.13%	16.81%	12.35%	12.71%	-16.30%	20.72%	15.08%	15.58%	12.36%	23.92%	17.48%	3.27%	17.61%	10.83%	15.69%
EPS	1.61	2.03	2.41	-10.21	1.96	2.30	1.40	1.89	1.74	1.36	1.66	1.49	0.98	0.99	-1.22	2.08	1.47	1.32	1.16	2.18	1.70	0.33	1.42	0.70	1.03
EPS Diluted	1.60	2.02	2.39	-10.21	1.95	2.29	1.39	1.88	1.73	1.36	1.65	1.49	0.98	0.99	-1.22	2.06	1.44	1.29	1.10	2.01	1.57	0.30	1.35	0.70	1.03
Weighted Avg Shares Out	43.29M	45.56M	49.24M	50.27M	49.26M	46.02M	39.46M	30.99M	28.39M	24.73M	24.80M	22.20M	17.89M	13.86M	13.19M	10.70M	9.22M	8.54M	7.12M	5.28M	5.27M	5.36M	6.28M	6.55M	6.14M
Weighted Avg Shares Out (Dil)	43.50M	45.91M	49.55M	50.27M	49.42M	46.23M	39.70M	31.17M	28.56M	24.85M	24.97M	22.33M	17.95M	13.90M	13.19M	10.79M	9.37M	8.73M	7.50M	5.73M	5.71M	5.90M	6.60M	6.55M	6.14M

Berkshire Hills Bancorp Announces Lucia "Lucy" Bellomia Hired As Executive Vice President, Head of Retail Banking

September 13, 2021prnewswire.com

BOSTON, Sept. 13, 2021 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB), the parent company of Berkshire Bank, announced the Bank has hired Lucia "Lucy" Bellomia as EVP, Head of Retail Banking.

Berkshire Hills Announces Hiring of Veteran Connecticut Banking Professional Jeffrey Klaus as Regional President for Southern CT

September 7, 2021prnewswire.com

BOSTON, Sept. 7, 2021 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) the parent company of Berkshire Bank, announced that the Bank has hired Jeffrey Klaus as SVP, Regional President & Middle Market Team Leader in Southern Connecticut, based in New Haven.

How Berkshire Hills (BHLB) Stock Stands Out in a Strong Industry

September 3, 2021zacks.com

Berkshire Hills (BHLB) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.

Is This a Value Stock or a Value Trap?

September 2, 2021fool.com

The stock in question is still trading at a relatively low valuation, and management has put a transformation plan in place -- but a lot of questions remain.

Berkshire Hills and Brown & Brown Announce Definitive Agreement to Sell Berkshire Insurance Group to Brown & Brown of Massachusetts

August 24, 2021prnewswire.com

BOSTON, Aug. 24, 2021 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) and Brown & Brown, Inc. (NYSE: BRO) today announced the execution of a definitive agreement for the sale of the assets and operations of Berkshire Insurance Group, Inc. (BIG),...

Berkshire Hills Announces Quarterly Shareholder Dividend

August 13, 2021prnewswire.com

BOSTON, Aug. 13, 2021 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) today announced that its Board of Directors has approved a quarterly cash dividend of $0.12 per common share to shareholders of record at the close of business on August...

FDIC Approves Investors Bank's Acquisition of 8 Berkshire Bank Branches in New Jersey and Eastern Pennsylvania

August 2, 2021prnewswire.com

SHORT HILLS, N.J., Aug. 2, 2021 /PRNewswire/ -- Investors Bancorp, Inc. (NASDAQ: ISBC) ("Investors Bancorp"), the parent company of Investors Bank, announced today that the Federal Deposit Insurance Corporation has approved Investors Bank's acquisition of the eight New Jersey and eastern...