2024-01-25 15:59:06 ET
Berkshire Hills Bancorp, Inc. (BHLB)
Q4 2023 Earnings Conference Call
January 25, 2024 09:00 AM ET
Company Participants
Kevin Conn - IR & Corporate Development Officer
Nitin Mhatre - CEO
David Rosato - CFO
Conference Call Participants
Bill Young - RBC Capital Markets
Christopher O'Connell - KBW
Mark Fitzgibbon - Piper Sandler
Laurie Hunsicker - Seaport Research
David Bishop - Hovde Group
Presentation
Operator
Good morning, ladies and gentlemen, and welcome to the Berkshire Hills Bancorp Fourth Quarter 2023 Earnings Conference Call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. [Operator Instructions] This call is being recorded on Thursday, January 25, 2024.
I would now like to turn the conference over to Mr. Kevin Conn. Please go ahead, sir.
Kevin Conn
Good morning, and thank you for joining Berkshire Bank's fourth quarter earnings call. My name is Kevin Conn, Investor Relations and Corporate Development Officer. Here with me today are Nitin Mhatre, Chief Executive Officer; Sean Gray, Chief Operating Officer; David Rosato, Chief Financial Officer; and Greg Lindenmuth, Chief Risk Officer.
Our remarks will include forward-looking statements and refer to non-GAAP financial measures. Actual results could differ materially from those statements. Please see our legal disclosure on Page 2 of the earnings presentation referencing forward-looking statements and non-GAAP financial measures. A reconciliation of non-GAAP to GAAP measures is included in our news release.
At this time, I'll turn the call over to Nitin. Nitin?
Nitin Mhatre
Thank you, Kevin. Good morning, everyone, and thank you for joining us today. I'll begin my comments on Slide 3, where you can see the highlights for the fourth quarter and the full year. While the rate environment remains challenging, we are encouraged by the early trends in deposit balances. We executed a security sale late in the fourth quarter and used those proceeds to pay down wholesale borrowings, eliminating the negative carry associated with those securities....
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Berkshire Hills Bancorp, Inc. (BHLB) Q4 2023 Earnings Call Transcript