BERKSHIRE HILLS BANCORP INC
For the period ended Jun 30, 2025. Filed Aug 11, 2025.
View on SEC.govAbout this filing
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
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Average Balances and Average Yields/Rates
The following table presents average balances and an analysis of average rates and yields on an annualized fully taxable equivalent basis for the periods included:
| Three Months Ended June 30, | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2025 · 2024 | ||||||||
| (Dollars in millions) · AverageBalance · Interest (FTE basis) · Yield/Rate(FTE basis) · AverageBalance · Interest (FTE basis) · Yield/Rate(FTE basis) | ||||||||
| Assets | ||||||||
| Loans: | ||||||||
| Commercial real estate | $4,903 | $76 | 6.19% | $4,649 | $77 | 6.52% | ||
| Commercial and industrial loans | 1,501 | 27 | 6.99 | 1,384 | 27 | 7.62 | ||
| Residential mortgages | 2,711 | 30 | 4.39 | 2,694 | 28 | 4.21 | ||
| Consumer loans | 369 | 5 | 6.58 | 430 | 8 | 7.47 | ||
| Total loans (1) | 9,484 | 138 | 5.82 | 9,157 | 140 | 6.05 | ||
| Investment securities (2) | 1,299 | 8 | 2.59 | 1,332 | 8 | 2.44 | ||
| Short-term investments & loans held for sale (3) | 540 | 5 | 4.31 | 597 | 8 | 5.07 | ||
| New York branch loans held for sale (4) | — | — | — | 57 | 1 | 5.86 | ||
| Total interest-earning assets | 11,323 | 151 | 5.38 | 11,143 | 157 | 5.57 | ||
| Intangible assets | 13 | x | 18 | x | ||||
| Other non-interest earning assets | 513 | x | 531 | x | ||||
| Total assets | $11,849 | $11,692 | ||||||
| Liabilities and shareholders’ equity | ||||||||
| Deposits: | ||||||||
| Non-interest-bearing demand deposits | $2,281 | $— | —% | $2,244 | $— | —% | ||
| NOW and other | 800 | 3 | 1.48 | 763 | 3 | 1.44 | ||
| Money market | 3,095 | 23 | 2.92 | 2,909 | 24 | 3.32 | ||
| Savings | 1,081 | 3 | 1.24 | 1,004 | 3 | 1.06 | ||
| Time | 2,560 | 24 | 3.73 | 2,376 | 25 | 4.22 | ||
| Total deposits | 9,817 | 53 | 2.15 | 9,296 | 55 | 2.35 | ||
| Borrowings and notes (5) | 590 | 7 | 4.65 | 619 | 9 | 5.55 | ||
| New York branch non-interest-bearing deposits (4) | — | — | — | 97 | — | — | ||
| New York branch interest-bearing deposits (4) | — | — | — | 386 | 3 | 2.80 | ||
| Total funding liabilities | 10,407 | 60 | 2.29 | 10,398 | 67 | 2.53 | ||
| Other non-interest earning liabilities | 224 | 281 | ||||||
| Total liabilities | 10,631 | 10,679 | ||||||
| Total common shareholders' equity | 1,218 | 1,013 | ||||||
| Total shareholders’ equity | 1,218 | 1,013 | ||||||
| Total liabilities and shareholders’ equity | $11,849 | $11,692 | ||||||
| Net interest margin, FTE | 3.27% | 3.20% | ||||||
| Supplementary data | ||||||||
| Net Interest Income, non FTE | $91.9 | $88.5 | ||||||
| FTE income adjustment (6) | 1.8 | 2.0 | ||||||
| Net Interest Income, FTE | $93.7 | $90.5 | ||||||
(1) The average balances of loans include nonaccrual loans and deferred fees and costs.
(2) The average balance for securities available for sale is based on amortized cost.
(3) Interest income on loans held for sale is included in loan interest income on the Consolidated Statements of Income statement.
(4) New York branch loans and deposits moved to held for sale on March 4, 2024. The New York branch sales were completed in 2024.
(5) The average balances of borrowings include the finance lease obligation presented under other liabilities on the Consolidated Balance Sheets.
(6) Fully taxable equivalent considers the impact of tax advantaged investment securities and loans. The yield on tax-exempt loans and securities is computed on a fully tax-equivalent basis using a tax rate of 27%.
| Six Months Ended June 30, | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2025 · 2024 | ||||||||
| (Dollars in millions) · AverageBalance · Interest (FTE basis) · Yield/Rate(FTE basis) · AverageBalance · Interest (FTE basis) · Yield/Rate(FTE basis) | ||||||||
| Assets | ||||||||
| Loans: | ||||||||
| Commercial real estate | $4,884 | $151 | 6.19% | $4,601 | $152 | 6.52% | ||
| Commercial and industrial loans | 1,474 | 52 | 6.99 | 1,370 | 53 | 7.63 | ||
| Residential mortgages | 2,709 | 60 | 4.37 | 2,681 | 57 | 4.18 | ||
| Consumer loans | 369 | 10 | 6.57 | 447 | 16 | 7.36 | ||
| Total loans (1) | 9,436 | 273 | 5.81 | 9,099 | 278 | 6.05 | ||
| Investment securities (2) | 1,306 | 17 | 2.60 | 1,529 | 18 | 2.41 | ||
| Short-term investments & loans held for sale (3) | 537 | 10 | 4.25 | 543 | 14 | 5.07 | ||
| New York branch loans held for sale (4) | — | — | — | 37 | 1 | 5.79 | ||
| Total interest-earning assets | 11,279 | 300 | 5.36 | 11,208 | 311 | 5.50 | ||
| Intangible assets | 14 | x | 18 | x | ||||
| Other non-interest earning assets | 509 | x | 497 | x | ||||
| Total assets | $11,802 | $11,723 | ||||||
| Liabilities and shareholders’ equity | ||||||||
| Deposits: | ||||||||
| Non-interest-bearing demand deposits | $2,271 | $— | —% | $2,296 | $— | —% | ||
| NOW and other | 779 | 5 | 1.40 | 781 | 6 | 1.40 | ||
| Money market | 3,171 | 46 | 2.89 | 2,996 | 49 | 3.28 | ||
| Savings | 1,060 | 6 | 1.19 | 1,021 | 5 | 1.02 | ||
| Time | 2,551 | 48 | 3.82 | 2,469 | 51 | 4.15 | ||
| Total deposits | 9,832 | 106 | 2.16 | 9,563 | 111 | 2.32 | ||
| Borrowings and notes (5) | 527 | 13 | 4.78 | 563 | 16 | 5.54 | ||
| New York branch non-interest-bearing deposits (4) | — | — | — | 64 | — | — | ||
| New York branch interest-bearing deposits (4) | — | — | — | 252 | 4 | 2.78 | ||
| Total funding liabilities | 10,359 | 119 | 2.30 | 10,442 | 131 | 2.49 | ||
| Other non-interest earning liabilities | 239 | 266 | ||||||
| Total liabilities | 10,598 | 10,708 | ||||||
| Total common shareholders' equity | 1,205 | 1,015 | ||||||
| Total shareholders’ equity | 1,205 | 1,015 | ||||||
| Total liabilities and shareholders’ equity | $11,803 | $11,723 | ||||||
| Net interest margin, FTE | 3.26% | 3.18% | ||||||
| Supplementary data | ||||||||
| Net Interest Income, non FTE | $181.7 | $176.7 | ||||||
| FTE income adjustment (6) | 4.0 | 4.0 | ||||||
| Net Interest Income, FTE | $185.7 | $180.7 | ||||||
(1) The average balances of loans include nonaccrual loans and deferred fees and costs.
(2) The average balance for securities available for sale is based on amortized cost.
(3) Interest income on loans held for sale is included in loan interest income on the Consolidated Statements of Income.
(4) New York branch loans and deposits moved to held for sale on March 4, 2024.
(5) The average balances of borrowings include the finance lease obligation presented under other liabilities on the Consolidated Balance Sheet.
(6) Fully taxable equivalent considers the impact of tax advantaged investment securities and loans. The yield on tax-exempt loans and securities is computed on a fully tax-equivalent basis using a tax rate of 27%.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.