BERKSHIRE HILLS BANCORP INC

For the period ended Jun 30, 2025. Filed Aug 11, 2025.

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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, 2025 · Filed Aug 11, 2025

BBT$30.67+0.2%Stored close · as of Nov 9, 2026

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Contents

Selected Financial Data

The following summary data is based in part on the consolidated financial statements and accompanying notes and other information appearing elsewhere in this Form 10-Q.

At or for the · At or for the
Three Months Ended June 30,	Six Months Ended June 30,
	2025	2024	2025	2024
NOMINAL AND PER SHARE DATA
Net earnings per common share, diluted	$0.66	$0.57	$1.22	$0.09
Operating earnings per common share, diluted (1)(2)	0.69	0.55	1.29	1.03
Net income, (thousands)	30,366	24,025	56,085	3,837
Operating net income, (thousands) (1)(2)	31,587	23,168	59,208	44,102
Net interest income, non FTE	91,921	88,532	181,692	176,672
Net interest income, FTE (4)	93,761	90,545	185,416	180,691
Total common shares outstanding, (thousands)	46,303	42,959	46,303	42,959
Average diluted shares, (thousands)	46,007	42,508	46,042	42,763
Total book value per common share	26.40	23.58	26.40	23.58
Tangible book value per common share (2)	26.12	23.18	26.12	23.18
Dividends per common share	0.18	0.18	0.36	0.36
Dividend payout ratio	27.54%	32.74%	29.80%	N/M
PERFORMANCE RATIOS (3)
Return on equity	9.97%	9.49%	9.31%	0.76%
Operating return on equity (1)(2)	10.37	9.15	9.83	8.69
Return on tangible common equity (1)(2)	10.35	9.99	9.69	1.11
Operating return on tangible common equity (1)(2)	10.76	9.65	10.22	9.19
Return on assets	1.03	0.82	0.95	0.07
Operating return on assets (1)(2)	1.07	0.79	1.00	0.75
Net interest margin, FTE (4)	3.27	3.20	3.26	3.18
Efficiency ratio (1)(2)	56.73	63.40	58.07	64.81
FINANCIAL DATA (in millions, end of period)
Total assets	$12,035	$12,219	$12,035	$12,219
Total earning assets	11,346	11,510	11,346	11,510
Total loans	9,499	9,229	9,499	9,229
Total deposits	9,979	9,621	9,979	9,621
Loans/deposits (%)	95%	96%	95%	96%
Total shareholders' equity	1,222	1,013	1,222	1,013
ASSET QUALITY
Allowance for credit losses, (millions)	$117	$112	$117	$112
Net charge-offs, (millions)	(3)	(2)	(7)	(6)
Net charge-offs (QTD annualized)/average loans	0.14%	0.07%	0.15%	0.13%
Provision expense, (millions)	$4	$6	$10	$12
Non-accruing loans/total loans	0.27%	0.23%	0.27%	0.23%
Allowance for credit losses/non-accruing loans	462	525	462	525
Allowance for credit losses/total loans	1.24	1.22	1.24	1.22
CAPITAL RATIOS
Common equity tier 1 capital to risk-weighted assets	13.4	11.6%	13.4%	11.6%
Tier 1 capital leverage ratio	13.6	9.6	13.6	9.6
Tangible common shareholders' equity/tangible assets (2)	10.1	8.2	10.1	8.2

(1) Operating measurements are non-GAAP financial measures that are adjusted to exclude net non-operating charges primarily related to acquisitions and restructuring activities. Refer to "Reconciliation of Non-GAAP Financial Measures" for additional information.

(2) Non-GAAP financial measure. Refer to "Reconciliation of Non-GAAP Financial Measures" for additional information.

(3) All performance ratios are annualized and are based on average balance sheet amounts, where applicable.

(4) Fully taxable equivalent considers the impact of tax advantaged investment securities and loans.

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