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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 |
Arrow Announces Acquisition of Whitehall, N.Y. Branch
GLENS FALLS, N.Y. , March 4, 2024 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® - AROW) today announced that its bank subsidiary, Glens Falls National Bank and Trust Company, has entered into a definitive agreement with Berkshire Bank, a subsidiary of...
Berkshire Hills Bancorp to Sell Select Upstate and Eastern New York Branches
Enhances efficiency and profitability of the overall branch network Strengthens focus in core New York markets Combined branch and securities sale is neutral to full year 2024 earnings outlook BOSTON , March 4, 2024 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE:...
Berkshire Hills Announces Annual Meeting Date
BOSTON , Feb. 12, 2024 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) today announced that its Annual Meeting of Shareholders will be held at 10:00 am on Thursday, May 16, 2024 at Berkshire Bank's offices at 99 North Street, Pittsfield,...
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BHLB, BX and CNX have been added to the Zacks Rank #5 (Strong Sell) List on January 30, 2024.
Berkshire Hills (BHLB) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
The headline numbers for Berkshire Hills (BHLB) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Berkshire Hills Reports Fourth Quarter 2023 Results
Announces $40 Million Share Repurchase Authorization Fourth quarter loss of $1 million, ($0.03) per share; operating income of $20 million, $0.47 per share $267 million securities sale resulting in $25.1 million pre-tax non-operating loss Net loan charge-offs and non-performing assets...
Seeking Clues to Berkshire Hills (BHLB) Q4 Earnings? A Peek Into Wall Street Projections for Key Metrics
Evaluate the expected performance of Berkshire Hills (BHLB) for the quarter ended December 2023, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
Berkshire Hills Announces Fourth Quarter 2023 Earnings Release and Conference Call Schedule
BOSTON , Jan. 12, 2024 /PRNewswire/ -- The Berkshire Hills Bancorp, Inc. (NYSE: BHLB) fourth quarter 2023 earnings release and conference call are scheduled as follows: Earnings Release: Thursday, January 25, 2024, at approximately 7:30 a.m. (Eastern) Conference Call: Thursday,...
Berkshire Hills Bancorp Leadership Featured On New York Stock Exchange
BOSTON , Dec. 13, 2023 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB), the parent company of Berkshire Bank, a leading relationship-driven, community-focused bank with financial centers in New England and New York, announced that its leadership was recently featured...
Berkshire Hills Announces Quarterly Shareholder Dividend
BOSTON , Nov. 3, 2023 /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...
Source: https://incomestatements.info
Category: Stock Reports