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)
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, Inc. (BHLB) Q1 2024 Earnings Call Transcript
Berkshire Hills Bancorp, Inc. (NYSE:BHLB ) Q1 2024 Earnings Conference Call April 18, 2024 9:00 AM ET Company Participants Kevin Conn - Investor Relations & Corporate Development Officer Nitin Mhatre - Chief Executive Officer David Rosato - Chief Financial Officer...
Here's What Key Metrics Tell Us About Berkshire Hills (BHLB) Q1 Earnings
Although the revenue and EPS for Berkshire Hills (BHLB) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago...
Berkshire Hills Bancorp (BHLB) Q1 Earnings Beat Estimates
Berkshire Hills Bancorp (BHLB) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of $0.47 per share. This compares to earnings of $0.63 per share a year ago.
Berkshire Hills Reports First Quarter 2024 Results
Announces $362 Million Securities Sale First quarter loss of $20 million, ($0.47) per share Operating income of $21 million, $0.49 per share Securities sale of $362 million resulted in a $49.9 million net non-operating loss ($0.89 per share after-tax) Net...
Unlocking Q1 Potential of Berkshire Hills (BHLB): Exploring Wall Street Estimates for Key Metrics
Evaluate the expected performance of Berkshire Hills (BHLB) for the quarter ended March 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
Analysts Estimate Berkshire Hills Bancorp (BHLB) to Report a Decline in Earnings: What to Look Out for
Berkshire Hills (BHLB) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Berkshire Hills Announces First Quarter 2024 Earnings Release and Conference Call Schedule
BOSTON , March 28, 2024 /PRNewswire/ -- The Berkshire Hills Bancorp, Inc. (NYSE: BHLB) first quarter 2024 earnings release and conference call are scheduled as follows: Earnings Release: Thursday, April 18, 2024, at approximately 7:30 a.m. (Eastern) Conference Call: Thursday,...
Berkshire Hills Bancorp Bolsters Commercial & Private Banking Franchise
Torrance Childs, Former President of Private Banking at Boston Private, 40-Year Boston Banking Veteran, Joins Berkshire to Accelerate Client Growth & Experience BOSTON , March 21, 2024 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB), the parent company of Berkshire...
Berkshire Hills Announces Quarterly Shareholder Dividend
BOSTON , March 7, 2024 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) today announced that its Board of Directors has approved a quarterly cash dividend of $0.18 per common share to shareholders of record at the close of business...
Berkshire Hills Bancorp (BHLB) to Sell 10 New York Branches
Berkshire Hills Bancorp (BHLB) takes a strategic initiative to divest 10 branches in upstate and eastern New York. This move aims to boost branch efficiency and profitability.
Source: https://incomestatements.info
Category: Stock Reports