BERKSHIRE HILLS BANCORP INC
For the period ended Jun 30, 2024. Filed Aug 9, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 9, 2024
BBT$30.67+0.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
FORM 10-Q
INDEX
| Page | ||||
|---|---|---|---|---|
| PART I. | FINANCIAL INFORMATION | |||
| Item 1. | Consolidated Financial Statements (unaudited) | |||
| Consolidated Balance Sheet as of June 30, 2024 and December 31, 2023 | 4 | |||
| Consolidated Statements of Income for the Three and Six Months Ended June 30, 2024 and 2023 | 5 | |||
| Consolidated Statements of Comprehensive Income/(Loss) for the Three and Six Months Ended June 30, 2024 and 2023 | 6 | |||
| Consolidated Statements of Changes in Shareholders’ Equity for the Three and Six Months Ended June 30, 2024 and 2023 | 7 | |||
| Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 | 9 | |||
| Notes to Consolidated Financial Statements (Unaudited) | ||||
| Note 1 | Basis of Presentation | 11 | ||
| Note 2 | Branch Sale | 12 | ||
| Note 3 | Trading Securities | 13 | ||
| Note 4 | Securities Available for Sale, Held to Maturity, and Equity Securities | 14 | ||
| Note 5 | Loans and Allowance for Credit Losses | 20 | ||
| Note 6 | Deposits | 37 | ||
| Note 7 | Borrowed Funds | 37 | ||
| Note 8 | Derivative Financial Instruments and Hedging Activities | 39 | ||
| Note 9 | Leases | 47 | ||
| Note 10 | Capital Ratios and Shareholders' Equity | 49 | ||
| Note 11 | Earnings per Share | 54 | ||
| Note 12 | Stock-Based Compensation Plans | 55 | ||
| Note 13 | Fair Value Measurements | 56 | ||
| Note 14 | Net Interest Income after Provision/(Benefit) for Credit Losses | 66 | ||
| Note 15 | Tax Equity Investments | 67 | ||
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 68 | ||
| Selected Financial Data | 68 | |||
| Average Balances and Average Yields/Rates | 70 | |||
| Non-GAAP Financial Measures | 72 | |||
| Item 3. | Quantitative and Qualitative Disclosures about Market Risk | 83 | ||
| Item 4. | Controls and Procedures | 85 | ||
| PART II. · OTHER INFORMATION | ||
|---|---|---|
| Item 1. | Legal Proceedings | 86 |
| Item 1A. | Risk Factors | 87 |
| Item 2. | Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities | 88 |
| Item 3. | Defaults Upon Senior Securities | 88 |
| Item 4. | Mine Safety Disclosures | 88 |
| Item 5. | Other Information | 88 |
| Item 6. | Exhibits | 89 |
| Signatures | 90 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.