BERKSHIRE HILLS BANCORP INC BHLB Income Statement

Berkshire hills bancorp inc (BHLB)

Income statement / Quarterly

Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest and Dividend Income, Operating [Abstract]
Loans
110,915	118,371	113,990	105,651	111,576	102,651	100,254	91,741	85,967	76,024	71,983	68,943	62,884	61,571	59,703	58,442	59,055	56,343	51,504	44,445	45,706	43,958	42,309	42,494	43,566	50,025	45,443	47,081	47,601	39,497	38,787	35,051	35,466	35,719	28,607	24,606	24,917	24,490
Securities and other
14,526	15,354	15,248	15,458	15,119	14,918	15,230	14,405	14,674	13,036	12,683	11,766	9,550	8,940	9,315	10,034	9,369	9,109	8,899	8,306	8,310	8,098	8,866	7,301	5,093	4,479	4,254	3,800	3,887	3,626	3,869	3,621	3,562	3,547	3,446	3,307	3,546	3,473
Total interest and dividend income
125,441	133,725	129,238	121,109	126,695	117,569	115,484	106,146	100,641	89,060	84,666	80,709	72,434	70,511	69,018	68,476	68,424	65,452	60,403	52,751	54,016	52,056	51,175	49,795	48,659	54,504	49,697	50,881	51,488	43,123	42,656	38,672	39,028	39,266	32,053	27,913	28,463	27,963
Interest expense
Deposits
28,797	31,501	28,273	26,622	23,811	21,460	17,768	15,325	13,802	10,984	9,971	9,098	8,556	7,790	7,378	7,159	6,661	6,046	5,292	4,949	5,109	4,877	4,478	4,721	5,166	5,278	5,052	5,363	5,870	5,628	5,482	5,502	5,792	6,097	5,768	5,715	6,512	6,787
Borrowings and subordinated notes
5,311	5,353	9,370	9,028	10,118	7,724	7,424	6,064	4,305	6,078	5,150	4,725	4,720	4,750	4,199	3,620	3,015	2,435	2,474	2,309	2,260	2,230	2,368	2,308	3,651	3,357	3,541	3,581	3,653	2,270	2,121	2,025	2,101	2,131	2,084	2,052	2,267	2,305
Interest Expense
34,108	36,854	37,643	35,650	33,929	29,184	25,192	21,389	18,107	17,062	15,121	13,823	13,276	12,540	11,577	10,779	9,676	8,481	7,766	7,258	7,369	7,107	6,846	7,029	8,817	8,635	8,593	8,944	9,523	7,898	7,603	7,527	7,893	8,228	7,852	7,767	8,779	9,092
Interest Income (Expense), Net
91,333	96,871	91,595	85,459	92,766	88,385	90,292	84,757	82,534	71,998	69,545	66,886	59,158	57,971	57,441	57,697	58,748	56,971	52,637	45,493	46,647	44,949	44,329	42,766	39,842	45,869	41,104	41,937	41,965	35,225	35,053	31,145	31,135	31,038	24,201	20,146	19,684	18,871
Non-interest income
Mortgage banking originations
-	-	-	-	-	-	-	-	-	-	-	12,678	-	1,862	1,335	821	641	693	1,546	1,253	504	994	691	372	445	444	2,129	2,217	5,850	4,306	2,045	202	-	-	-	-	-	-
Total fee income
-	-	-	-	-	-	-	-	-	-	-	28,723	-	18,112	15,419	15,371	14,344	13,699	15,654	13,783	13,000	13,876	13,901	12,657	11,095	10,921	14,055	14,454	15,797	13,937	12,012	9,519	8,499	8,857	8,317	8,054	6,685	7,912
Other
75	609	-216	970	1,666	468	155	1,268	-939	-2,255	-276	93	-2,849	188	-851	223	-1,739	-1,050	-1,258	-1,255	1,200	520	402	524	1,227	832	546	344	421	375	269	241	318	-158	-277	80	-122	-301
Debt and Equity Securities, Gain (Loss)
1,734	87	17	2,551	-3,023	88	718	-1,502	30	-1	-1	12,570	-652	78	-13	36	-357	49	2,384	34	0	245	203	34	-	361	1,005	-	-	-	7	-	-	1,975	6	-	-	0
Gain on borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	124	-	-	0
Gain on sale of business operations and assets, net
1,351	0	0	0	0	0	-21	481	0	296	0	0	-	563	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-recurring gain, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,142	-1	0	-42	-	-	-	-	-	-
Loss on termination of hedges
-	-	-	-	-	-	-	-	0	0	0	-6,629	0	0	0	0	-	0	-	-	0	0	0	-8,792	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noninterest Income
23,362	21,406	17,512	21,722	15,775	20,034	19,623	18,892	-22,147	28,836	32,798	34,757	16,725	18,941	14,555	15,630	12,248	12,698	16,780	12,562	14,200	14,641	14,506	4,423	15,714	12,114	15,606	14,798	17,653	14,313	12,288	9,802	8,825	10,674	8,170	8,134	6,563	7,611
Total net revenue
114,695	118,277	109,107	107,181	108,541	108,419	109,915	103,649	60,387	100,834	102,343	101,643	75,883	76,912	71,996	73,327	70,996	69,669	69,417	58,055	60,847	59,590	58,835	47,189	55,556	57,983	56,710	56,735	59,618	49,538	47,341	40,947	39,960	41,712	32,371	28,280	26,247	26,482
Provision for loan losses
5,351	22,600	3,467	4,001	6,716	6,628	6,532	5,575	6,141	4,900	4,889	5,095	4,100	4,734	4,522	4,006	4,431	4,240	4,204	3,851	3,898	3,685	3,989	3,396	3,100	3,178	2,700	2,400	2,840	2,500	2,250	2,000	2,263	2,200	1,500	1,600	2,000	2,200
Non-interest expense
Compensation and benefits
35,355	37,272	34,779	33,500	34,927	31,746	33,499	33,847	9,256	37,643	36,997	36,119	28,103	26,119	24,664	25,714	25,819	25,237	24,503	21,811	20,965	20,665	20,279	19,859	16,736	18,506	18,151	17,741	18,862	15,992	15,638	13,589	13,172	13,195	12,027	11,151	10,870	10,960
Occupancy and equipment
10,798	9,893	9,449	9,446	9,366	9,145	9,224	9,192	5,759	8,267	8,678	9,026	7,320	6,650	6,560	6,690	7,308	6,827	7,243	7,108	6,655	6,780	6,656	6,814	5,421	5,614	5,737	5,768	5,985	4,599	4,490	4,395	4,453	3,883	3,546	3,435	2,988	2,963
Technology and communications
6,702	6,849	6,715	6,257	6,103	7,507	7,053	6,484	4,836	6,644	6,883	6,087	5,310	4,902	4,814	4,857	4,553	4,645	4,090	3,593	3,702	3,484	3,800	3,778	3,169	3,304	3,480	2,991	2,949	2,302	2,258	1,958	2,464	1,996	1,531	1,466	1,458	1,373
Marketing and promotion
1,046	1,006	1,155	1,267	1,224	1,167	1,084	1,222	-776	2,128	3,177	1,999	1,080	671	737	673	1,012	781	800	713	771	659	621	521	765	590	603	638	483	419	778	351	-	498	341	-	-	-
Professional services
2,288	2,282	3,953	2,275	3,302	1,481	864	1,696	619	2,247	2,190	2,451	1,666	1,744	1,509	1,280	1,472	1,053	1,375	1,272	1,205	830	1,024	1,152	1,558	1,757	1,764	1,490	1,600	1,327	1,493	1,365	-	1,375	1,216	-	-	-
Marketing and professional services
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,213	1,253	1,116
Supplies, postage and delivery
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	454	520	542
FDIC premiums and assessments
471	0	1,751	1,639	1,488	1,640	1,411	1,195	1,920	1,651	1,588	1,298	1,422	1,208	1,203	1,233	1,220	1,157	1,143	1,129	1,083	1,163	1,029	1,009	899	856	890	828	919	907	870	681	514	923	741	1,027	893	874
Other real estate owned and foreclosures
4	150	-2	2	1	-1	1	67	9	-23	30	28	-11	46	393	263	33	298	251	251	232	13	33	523	255	138	284	23	66	42	-6	179	153	541	700	609	100	0
Amortization of intangible assets
1,599	1,526	1,475	1,200	1,168	1,218	1,246	1,268	1,190	739	770	801	572	749	787	819	841	887	934	901	996	1,236	1,274	1,306	1,239	1,307	1,345	1,377	1,357	1,314	1,357	1,311	1,314	1,271	935	716	768	768
Merger, restructuring and conversion related expenses
5,713	4,163	11,155	7,015	16,006	198	847	5,093	15,553	1,420	2,903	11,682	11,633	2,170	878	780	1,118	3,361	8,711	4,421	1,762	238	190	6,301	2,493	6,516	775	5,064	7,497	2,214	4,085	4,223	3,678	9,091	5,451	1,708	-	-
Merger related expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Other
6,328	7,870	6,138	9,390	6,754	5,526	6,298	5,302	4,950	5,104	6,307	4,835	3,995	4,585	4,723	4,791	4,902	5,132	4,975	3,949	4,305	4,619	4,357	4,097	4,622	4,196	4,906	3,563	4,548	3,046	3,221	2,142	3,061	1,937	2,135	1,410	1,244	1,432
Total non-interest expense
70,287	71,011	76,568	71,991	80,373	59,627	61,527	65,366	43,309	65,820	69,523	74,326	61,090	48,844	46,268	47,100	48,278	49,378	54,025	45,148	41,676	39,687	39,263	45,360	37,157	42,784	37,935	39,483	44,266	32,162	34,184	30,194	29,920	34,710	28,623	23,189	20,094	20,028
Income from continuing operations before income taxes
39,057	24,666	29,072	31,189	21,452	42,164	41,856	32,708	10,937	30,114	27,931	22,222	10,693	23,334	21,206	22,221	18,287	16,051	11,188	9,056	15,273	16,218	15,583	-1,567	15,299	12,021	16,075	14,852	12,512	14,876	10,907	8,753	7,777	4,802	2,248	3,491	4,153	4,254
Income Tax Expense (Benefit)
6,421	4,007	5,118	6,917	4,384	9,095	8,145	7,337	19,878	7,211	8,237	6,762	362	6,953	5,249	6,220	2,273	1,350	1,144	297	3,875	4,230	4,119	-461	4,762	3,917	4,038	4,387	3,183	4,847	2,921	2,272	452	405	371	656	699	816
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
32,636	20,659	23,954	24,272	17,068	33,069	33,711	25,371	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, before Income Tax
-9,514	2,747	2,082	-854	-3,884	-1,147	426	-162	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,329	10,029	7,986	6,481	7,325	4,397	1,877	2,835	3,454	-
Loss from discontinued operations before income taxes (including gain on disposals $63 in 2012)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-261	-	-8	-	-	-	-
Discontinued Operation, Tax Effect of Discontinued Operation
-2,629	790	588	-217	-1,075	-305	106	-39	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	376	-	-3	-	-	-	-
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent
-6,885	1,957	1,494	-637	-2,809	-842	320	-123	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
25,751	22,616	25,448	23,635	14,259	32,227	34,031	25,248	-2,810	22,903	19,694	15,460	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,835	3,454	3,438
Preferred stock dividend
240	240	240	240	229	230	229	230	219	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-637	-	-5	-	-	-	-
Income available to common shareholders
25,511	22,376	25,208	23,395	14,030	31,997	33,802	25,018	-3,029	22,903	19,694	15,460	10,331	16,381	15,957	16,001	16,014	14,701	10,044	8,759	-	11,988	11,464	-1,106	-	8,104	12,037	10,465	9,329	10,029	7,986	5,844	-	4,392	1,877	-	-	-
Basic earnings/(loss) per share:
Income (Loss) from Continuing Operations, Per Basic Share
0.65	0.40	0.49	0.52	0.38	0.72	0.73	0.55	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.46	0.37	-	-	0.22	-	-	-	-
Discontinued operations (USD per share)
-0.14	0.04	0.03	-0.01	-0.07	-0.02	0.01	0.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings Per Share, Basic
0.51	0.44	0.52	0.51	0.31	0.70	0.74	0.55	-0.14	0.57	0.53	0.44	0.32	0.53	0.52	0.52	0.55	0.49	0.35	0.35	0.46	0.48	0.46	-0.04	0.42	0.33	0.49	0.42	-	0.46	0.37	-	-	0.22	-	-	-	0.25
Diluted earnings/(loss) per share:
Continuing Operations (USD per share)
0.64	0.40	0.49	0.52	0.36	0.72	0.73	0.55	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.46	0.37	-	-	0.22	-	-	-	-
Discontinued operations (USD per share)
-0.14	0.04	0.03	-0.01	-0.06	-0.02	0.01	0.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.03	-	-	-	-	-	-	-
Earnings Per Share, Diluted
0.50	0.44	0.52	0.51	0.30	0.70	0.74	0.55	-0.15	0.57	0.53	0.44	0.31	0.53	0.52	0.52	0.54	0.49	0.35	0.35	0.46	0.48	0.46	-0.04	0.42	0.33	0.48	0.42	-	0.46	0.37	-	-	0.22	-	-	-	0.25
Weighted average common shares outstanding:
Continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.31	-	-	0.11	0.20	0.25	-
Discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.03	-	-	-	-	0.00	-
Total basic and diluted earnings per share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.28	-	-	0.11	0.20	-	-
Weighted Average Number of Shares Outstanding, Basic
50,556	51,422	48,961	46,113	46,068	46,030	46,032	45,966	45,236	39,984	37,324	35,280	32,215	30,621	30,605	30,511	30,575	29,893	28,301	24,803	24,760	24,747	24,715	24,698	24,733	24,748	24,779	24,948	24,186	21,921	21,742	20,955	21,008	20,009	16,580	13,943	13,865	13,856
Weighted Average Number of Shares Outstanding, Diluted
50,764	51,545	49,114	46,261	46,246	46,263	46,215	46,200	45,709	40,145	37,474	35,452	32,404	30,811	30,765	30,688	30,771	30,069	28,461	24,955	25,048	24,861	24,809	24,698	24,888	24,873	24,956	25,143	24,417	22,031	21,806	21,062	21,121	20,105	16,601	13,981	13,893	13,894
Total fee income
Noninterest Income
20,202	20,710	17,711	18,201	17,132	19,478	18,771	18,645	-	30,796	33,075	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Mortgage banking income
Noninterest Income
172	292	278	46	148	15	334	138	-	13,374	16,281	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loan related income
Noninterest Income
7,056	6,493	4,822	6,003	5,087	7,246	6,003	4,819	5,886	6,081	5,275	4,179	5,648	5,102	2,898	3,046	2,707	1,537	2,783	1,283	1,763	1,471	1,846	1,248	1,578	1,308	2,644	2,717	1,162	1,340	1,479	1,171	419	934	780	591	549	756
Deposit related fees
Noninterest Income
8,264	8,705	7,525	6,858	7,131	7,004	7,605	8,066	7,871	6,445	6,645	6,204	6,285	6,278	6,291	6,109	6,416	6,549	6,442	5,677	6,137	6,449	6,610	5,439	4,717	4,559	4,805	4,259	4,355	3,775	3,963	3,500	3,849	3,885	3,366	2,541	2,730	2,819
Insurance commissions and fees
Noninterest Income
2,471	2,895	2,738	2,853	2,479	2,930	2,549	3,025	2,284	2,581	2,588	3,136	2,323	2,601	2,660	2,893	2,254	2,544	2,486	2,967	2,223	2,632	2,460	3,049	2,143	2,473	2,407	2,997	2,565	2,742	2,768	2,746	2,145	2,431	2,782	3,730	2,316	3,197
Wealth management fees
Noninterest Income
2,239	2,325	2,348	2,441	2,287	2,283	2,280	2,597	2,268	2,315	2,286	2,526	1,911	2,269	2,235	2,502	2,326	2,376	2,397	2,603	2,373	2,330	2,294	2,549	2,212	2,137	2,070	2,264	1,865	1,774	1,757	1,900	1,650	1,607	1,389	1,192	1,090	1,140