STRATEGIC PARTNERS
BOSTON, MA -- Berkshire Hills Bancorp, Inc. reported net income of $34 million for the second quarter of 2018. This represents a 73% increase over the $20 million net income reported in the comparable period last year. Click here for full report. According to the company, the strong 2018 performance primarily reflects the benefit of Berkshire's Greater Boston expansion through acquisition and business development, which has delivered higher market share, increased efficiency and record profitabilit...
July 19, 2018
BOSTON, MA -- Berkshire Hills Bancorp, Inc. reported net income of $34 million for the second quarter of 2018. This represents a 73% increase over the $20 million net income reported in the comparable period last year. Click here for full report.
According to the company, the strong 2018 performance primarily reflects the benefit of Berkshire's Greater Boston expansion through acquisition and business development, which has delivered higher market share, increased efficiency and record profitability.
"We achieved record quarterly return on assets, with income increasing by 35% over the prior quarter," said Berkshire chief executive officer Michael Daly. "Commercial loans grew strongly and our new Boston corporate headquarters teams are receiving good response to our expanded presence in Greater Boston. Our revenue growth and disciplined expense management produced record quarterly earnings per share, positive operating leverage, and improved returns on equity."
Berkshire Hills Bancorp is the parent company of Berkshire Bank, of which Firestone Financial LLC is a subsidiary. Firestone has financed billions of dollars' worth of assets, with thousands of business customers across a range of industries including vending, indoor and outdoor amusement, gaming, self-service laundry and fitness enterprises.
