An announcement from Berkshire Hills ( (BHLB) ) is now available.
Berkshire Hills Bancorp reported a strong third quarter in 2024 with a net income of $37.5 million, driven by loan growth and a $16 million gain from a branch sale. The bank’s operating earnings per share rose 16% year-over-year, while deposits increased by 1%. The company completed the sale of ten branch offices, reducing its total branch count by 14%. Operating revenue saw a 1% rise, bolstered by increased loan-related fees, despite a slight decrease in net interest margin.
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