Berkshire Hills Q3 net income $20M ($0.45 EPS); operating EPS $0.50, avg loans +2%

Beacon Financial Corp

2023-Q3 EPS reported $1.63 revenue$331,791,000

Operating earnings of $21.5M ($0.50/share); GAAP net income $19.5M ($0.45) vs $23.9M ($0.55) prior quarter.
Net interest margin (FTE) 3.18%, down from 3.24% in Q2 and 3.48% a year ago; net interest income $90.3M.
Average loans grew 2% linked quarter to $8.95B; average deposits +1% to $9.63B.
TCE ratio 7.7%, CET1 ratio 12.1%; common stock buybacks totaled $4M during the quarter.
Efficiency ratio 65.1%; net charge-offs decreased $0.3M linked quarter.

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 third quarter ended September 30, 2023 results: net income $20 million, EPS $0.45 Earnings per Share.

Period: third quarter ended September 30, 2023
Net income: $20 million
EPS: $0.45 Earnings per Share
Result: reported results

Exact text from the filing

Berkshire Hills Reports Third Quarter Net Income of $20 Million, or $0.45 Earnings per Share

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Beacon Financial Corp reported Three Months Ended Sep. 30, 2023 results: net income $ 19.5, EPS 0.45.

Period: Three Months Ended Sep. 30, 2023
Net income: $ 19.5
EPS: 0.45
Result: reported results

Exact text from the filing

Net income $ 19.5 $ 23.9 $ 18.7 Per share 0.45 0.55 0.42

View on SEC.gov

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Beacon Financial Corp filing history →

Source: SEC EDGAR

accession 0001104659-23-110429

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