Berkshire Hills Bancorp ( (BHLB) ) has released its Q1 earnings. Here is a breakdown of the information Berkshire Hills Bancorp presented to its investors.
Berkshire Hills Bancorp, Inc., headquartered in Boston, is a community-focused bank offering commercial, retail, wealth, and private banking solutions through its 83 financial centers across New England and New York. The company is currently in the process of merging with Brookline Bancorp, Inc.
In its first quarter of 2025, Berkshire Hills Bancorp reported a strong financial performance with a 22% year-over-year increase in operating earnings per share (EPS) and a 5% rise in operating revenue. The company also achieved its best efficiency ratio in two years at 59.5% and reported the lowest level of delinquent and non-performing loans in nearly two decades.
Key financial highlights include a net interest margin of 3.24%, a 3% increase in net interest income from the previous quarter, and a 6% decrease in operating non-interest expenses year-over-year. The bank’s credit performance remained robust, with a 0.42% ratio of delinquent and non-performing loans to total loans. Additionally, Berkshire Hills completed the sale of its Upstart consumer loan portfolio, contributing to a 4% year-over-year growth in period-end loans.
Looking ahead, Berkshire Hills Bancorp is focused on its merger with Brookline Bancorp, which is expected to close in the second half of 2025. The merger aims to enhance the bank’s market presence and operational efficiency, with Berkshire stockholders anticipated to own approximately 55% of the combined company. The management remains committed to serving clients and advancing integration planning for the merger.