Berkshire Hills Q4 GAAP EPS $0.46, operating EPS $0.60; FY2024 operating EPS $2.22 up 4%

Beacon Financial Corp

2024-FY EPS reported $1.43 revenue$400,000,000

GAAP net income $19.7M ($0.46/share) vs $37.5M ($0.88) in Q3; operating earnings $26.0M ($0.60), up 3% QoQ and 28% YoY.
Average deposits grew 3% QoQ to $9.659B; average loans rose 0.4% to $9.271B; loans/deposits ratio improved further.
Delinquent and non-performing loans at 0.52% of total loans, lowest in nearly two decades.
CET1 ratio 13.0%; return on tangible common equity 7.6% (operating 9.9%).
FY2024 operating EPS $2.22 vs $2.14 in FY2023, up 4%; net interest margin (FTE) 3.14% vs 3.16% prior quarter.

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