Berkshire Hills Q1 net income $27.6M ($0.63/sh); average loans +5%, deposits -1%

Beacon Financial Corp

2023-Q1 EPS reported $0.63 revenue$114,139,000

Net income $27.6M ($0.63 diluted EPS); operating EPS same; down from $0.69 in Q4 2022, up from $0.42 in Q1 2022.
Net interest margin (FTE) 3.58% vs 3.84% prior quarter; net interest income $97.5M (non-FTE).
Average loans $8.5B (+5% linked-quarter); average deposits $9.7B (-1% quarterly).
Tangible book value per share $21.89 (+4% from Q4); CET1 ratio 12.1%; TCE ratio 7.9%.
Added Karyn Polito and Eric Rosengren to board of directors.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Beacon Financial Corp reported first quarter ended March 31, 2023 results: net income $27.6 million, EPS $0.63 per share.

Period: first quarter ended March 31, 2023
Net income: $27.6 million
EPS: $0.63 per share
Result: reported results

Exact text from the filing

Berkshire Hills Reports First Quarter Net Income of $27.6 Million, or $0.63 per Share

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Source: SEC EDGAR

accession 0001104659-23-047535

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