Berkshire Hills Bancorp Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2018
January 23, 2019 at 04:15 pm
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Berkshire Hills Bancorp Inc. announced earnings results for the fourth quarter ended December 31, 2018. For the fourth quarter, the company announced net interest income was USD 93.404 million compared to USD 86.366 million a year ago. Net income was USD 14.259 million compared to net loss of USD 2.810 million a year ago. Basic earnings per share was USD 0.31 compared to basic loss per share of USD 0.06 a year ago. For the full year, net interest income was USD 359.336 million compared to USD 294.795 million a year ago. Net income was USD 105.765 million compared to USD 55.247 million a year ago. Basic earnings per share was USD 2.3 compared to USD 1.4 a year ago. Diluted earnings per share was USD 2.29 compared to USD 1.39 a year ago.
Berkshire Hills Bancorp, Inc. is a holding company for Berkshire Bank (the Bank). The Bank provides commercial banking, retail banking, consumer lending, private banking and wealth management services. The Bank provides various loans, including commercial real estate, commercial and industrial loans, residential mortgages and consumer loans. The Bank originates commercial real estate loans on properties used for business purposes, such as retail, multifamily, office, healthcare, hospitality, industrial and manufacturing facilities. The Bank is engaged in prime home equity lending, following its conforming mortgage underwriting guidelines with streamlined verifications and documentation. The Bank offers fixed-rate and adjustable-rate residential mortgage loans. The Company's Wealth Management Group provides consultative investment management, trust administration, and financial planning to individuals, businesses, and institutions, with an emphasis on personal investment management.
BERKSHIRE HILLS BANCORP, INC. 
