2023-07-20 07:37:49 ET
- Berkshire Hills Bancorp press release ( NYSE: BHLB ): Q2 Non-GAAP EPS of $0.55 misses by $0.02 .
- Revenue of $109.85M (+12.4% Y/Y) beats by $2.48M .
- TCE ratio of 7.9 percent and CET1 ratio of 12.1 percent.
- Provision for credit losses on loans totaled $8.0 million.
- Allowance for credit losses on loans increased $2.2 million.
- Net annualized loan charge-off ratio of 0.26%.
- The efficiency ratio was 63.6% for 2Q23 compared to 59.5% for 1Q23.
- The effective income tax rate was 14.2% for 2Q23 and 15.6% for the first six months of 2023 compared to 18.7% for the full year of 2022.
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Berkshire Hills Bancorp reports mixed Q2 earnings