berkshire hills bancorp inc (BHLB) Key Developments
Berkshire Hills Bancorp Inc. and Berkshire Bank Announce Management and Board Changes
Apr 28 15
On April 23, 2015, John W. Altmeyer retired from the Boards of Directors of Berkshire Hills Bancorp Inc. and Berkshire Bank. On April 23, 2015, Glenn S. Welch, age 52, was confirmed by the company and the Bank as Executive Vice President. Mr. Welch previously served as President and Chief Executive Officer of Hampden Bancorp Inc. and Hampden Bank, which were acquired by the Company and the Bank on April 17, 2015. Mr. Welch served as an executive officer of Hampden Bancorp Inc. and Hampden Bank in multiple capacities beginning with his initial employment by Hampden Bank in 2001, culminating in his appointment as President and Chief Executive Officer in 2013. On April 23, 2015, Thomas R. Burton and Richard D. Suski were each appointed to the Boards of Directors of the company and the Bank. Mr. Burton is a former member of Hampden Bancorp Inc.'s Board of Directors. Mr. Burton served as the Chief Executive Officer of Hampden Bancorp and Hampden Bank from 1994 until his retirement in December 2012 and as the President of Hampden Bancorp and Hampden Bank from 1994 to 2011. Mr. Burton has been appointed to the Audit Committee and Compliance/Regulatory Committee of the Board of Directors of the company. Mr. Burton fills the vacancy created by the retirement of Mr. Altmeyer from the Board of Directors. Mr. Suski is a retired principal of RDS Associates, a position he held from 1991 through 2005. Prior to his work with RDS Associates, Mr. Suski was Partner-in-Charge of Financial Institutions of the Hartford, Connecticut office of KPMG LLP.
Berkshire Hills Bancorp Inc. Declares Dividend, Payable on May 28, 2015
Apr 27 15
Berkshire Hills Bancorp Inc. announced that its Board of Directors declared a cash dividend of $0.19 per share to shareholders of record at the close of business on May 14, 2015, payable on May 28, 2015.
Berkshire Hills Bancorp Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Records Net Charge Offs
Apr 27 15
Berkshire Hills Bancorp Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. The company reported net interest income of $45,493,000, total net revenue of $58,055,000, income before income taxes of $9,056,000, net income of $8,759,000 or $0.35 per diluted share against net interest income of $42,766,000, total net revenue of $47,189,000, loss before income taxes of $1,567,000, net loss of $1,106,000 or $0.04 per diluted share a year ago. Core return on assets was 0.76% against 0.71% a year ago. Core return on equity was 7.06% against 6.02% a year ago. Tangible book value per share was $17.46 against $15.84 a year ago. Profit growth has been due to higher revenues from continued business momentum. First quarter core EPS increased by 4% from $0.48 in the fourth quarter of 2014. Earnings in both periods were impacted by non-core charges related primarily to growth and restructuring, including charges related to the acquisition of Hampden Bancorp, which was completed on April 17, 2015.
Total net charge offs for the first quarter were $3,227,000 against $3,117,000 a year ago.
Berkshire Bank Names Peter Samson as Senior Vice President, Commercial Leader for Berkshire's Connecticut Region
Apr 8 15
Berkshire Hills Bancorp Inc. has appointed Peter Samson to Senior Vice President, Commercial Leader for Berkshire's Connecticut Region. Samson joins Berkshire from People's United Bank where he served as Senior Vice President and Regional Manager-Commercial Banking, focused on providing financing solutions and financial services to middle market companies. Samson has 26 years of commercial lending experience in the Hartford, CT market, including previous roles at TD Banknorth and Webster Bank.
Berkshire Hills Bancorp Inc Expands Services At Albany
Apr 3 15
Berkshire Hills Bancorp Inc. announced that it has expanded its private banking and wealth management services in Albany. The company has hired two managers to expand its services in the region.