Berkshire Hills Bancorp, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2019
January 28, 2020 at 02:45 am IST
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Berkshire Hills Bancorp, Inc. announced earnings results for the fourth quarter and full year ended December 31, 2019. For the fourth quarter, the company announced net interest income was USD 91.333 million compared to USD 92.766 million a year ago. Net income was USD 25.751 million compared to USD 14.259 million a year ago. Basic earnings per share from continuing operations was USD 0.65 compared to USD 0.37 a year ago. Basic earnings per share was USD 0.51 compared to USD 0.31 a year ago.
For the full year, net interest income was USD 365.258 million compared to USD 356.200 million a year ago. Net income was USD 97.450 million compared to USD 105.765 million a year ago. Basic earnings per share from continuing operations was USD 2.06 compared to USD 2.37 a year ago. Basic earnings per share was USD 1.98 compared to USD 2.3 a year ago. Diluted earnings per share from continuing operations was USD 2.05 compared to USD 2.36 a year ago. Diluted earnings per share was USD 1.97 compared to USD 2.29 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. 
