2023-04-20 07:38:55 ET
- Berkshire Hills Bancorp press release ( NYSE: BHLB ): Q1 Non-GAAP EPS of $0.63 misses by $0.02 .
- Revenue of $114.14M (+27.2% Y/Y) beats by $5.34M .
- Tangible book value per share +4 percent to $21.89
- TCE ratio of 7.9 percent and CET1 ratio of 12.1 percent.
- Provision for credit losses on loans totaled $9.0 million.
- Allowance for credit losses on loans increased $1.7 million.
- Net loan charge-offs totaled $6.9 million.
- Net loan charge-off ratio of 0.32%.
- The efficiency ratio was 59.5% for 1Q23 compared to 58.3% for 4Q22 and 72.6% for 1Q22.
- The effective income tax rate was 16.7% for 1Q23 compared to 14.6% in 4Q22 and 18.7% for the full-year of 2022.
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Berkshire Hills Bancorp Non-GAAP EPS of $0.63 misses by $0.02, revenue of $114.14M beats by $5.34M