Daily News

Berkshire Hills Bancorp Reports Second-quarter Results

PITTSFIELD — Berkshire Hills Bancorp Inc. reported second-quarter GAAP earnings of $0.52 per share in 2016 compared to $0.35 in 2015. Core earnings increased to $0.54 per share from $0.51 for these respective periods. Results increased due to expanded operations and improved profitability.

Core EPS is a non-GAAP financial measure and is adjusted to exclude net non-core charges primarily related to acquisitions and restructuring activities. GAAP results last year included higher non-core charges related to the Hampden Bancorp acquisition.

Second-quarter financial highlights, compared to the prior quarter, include 5% total loan growth, 4% total commercial loan growth, 3.31% net interest margin (fully taxable equivalent), 58.7% efficiency ratio (non-GAAP financial measure), 0.26% non-performing assets/assets, and 0.22% net loan charge-offs/average loans.