Berkshire Hills Bancorp Files 8-K on Financial Condition, Operations
Ticker: BBT · Form: 8-K · Filed: Jan 25, 2024 · CIK: 1108134
| Field | Detail |
|---|---|
| Company | Berkshire Hills Bancorp INC (BBT) |
| Form Type | 8-K |
| Filed Date | Jan 25, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $40 million |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: financial-condition, results-of-operations, regulation-fd
TL;DR
**BHLB just dropped an 8-K on its financials, time to check the numbers!**
AI Summary
Berkshire Hills Bancorp, Inc. (BHLB) filed an 8-K on January 25, 2024, to report on its results of operations and financial condition, as well as to make a Regulation FD disclosure and other events. This filing indicates that the company is providing updated financial information, likely related to its recent performance. For investors, this matters because it offers a timely look into the bank's health and operational efficiency, which can influence stock price and future dividend decisions.
Why It Matters
This filing provides investors with current financial information, which is crucial for evaluating the company's performance and making informed investment decisions.
Risk Assessment
Risk Level: low — This is a routine disclosure of financial information, not indicating any immediate new risks, but rather providing transparency.
Analyst Insight
A smart investor would review the detailed financial results once they are fully released to understand the bank's performance and future outlook, especially given the 'Results of Operations and Financial Condition' item.
Key Numbers
- $0.01 — par value per share (par value of Berkshire Hills Bancorp's common stock)
Key Players & Entities
- BERKSHIRE HILLS BANCORP INC (company) — the registrant filing the 8-K
- 001-15781 (dollar_amount) — Commission File No.
- 04-3510455 (dollar_amount) — I.R.S. Employer Identification No.
- January 25, 2024 (date) — Date of earliest event reported
- BHLB (company) — Trading symbol for common stock
- New York Stock Exchange (company) — Exchange where common stock is registered
Forward-Looking Statements
- Berkshire Hills Bancorp will likely release detailed financial statements soon, following this 8-K. (BERKSHIRE HILLS BANCORP INC) — high confidence, target: Q1 2024
FAQ
What is the primary purpose of this 8-K filing by Berkshire Hills Bancorp, Inc.?
The primary purpose of this 8-K filing, dated January 25, 2024, is to report on the company's results of operations and financial condition, make a Regulation FD Disclosure, and disclose other events.
What is the trading symbol and the exchange where Berkshire Hills Bancorp, Inc.'s common stock is registered?
The trading symbol for Berkshire Hills Bancorp, Inc.'s common stock is BHLB, and it is registered on the New York Stock Exchange.
What is the par value of Berkshire Hills Bancorp, Inc.'s common stock?
The par value of Berkshire Hills Bancorp, Inc.'s common stock is $0.01 per share.
What is the business address and phone number of Berkshire Hills Bancorp, Inc. as listed in the filing?
The business address is 60 State Street, Boston, Massachusetts, 02109, and the registrant's telephone number is (800) 773-5601, ext. 133773.
Under which SEC Act is this Form 8-K filed?
This Form 8-K is filed under the Securities Exchange Act of 1934, pursuant to Section 13 or 15(D).
Filing Stats: 683 words · 3 min read · ~2 pages · Grade level 9.4 · Accepted 2024-01-25 12:23:43
Key Financial Figures
- $0.01 — ch registered Common stock, par value $0.01 per share BHLB New York Stock Excha
- $40 million — y common stock at a total cost of up to $40 million through December 31, 2024. The Company
Filing Documents
- tm244071d1_8k.htm (8-K) — 29KB
- tm244071d1_ex99-1.htm (EX-99.1) — 820KB
- tm244071d1_ex99-1img001.jpg (GRAPHIC) — 8KB
- tm244071d1_ex99-1img002.jpg (GRAPHIC) — 5KB
- 0001104659-24-006586.txt ( ) — 1081KB
- bhlb-20240125.xsd (EX-101.SCH) — 3KB
- bhlb-20240125_lab.xml (EX-101.LAB) — 33KB
- bhlb-20240125_pre.xml (EX-101.PRE) — 22KB
- tm244071d1_8k_htm.xml (XML) — 3KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition On January 25, 2024, Berkshire Hills Bancorp, Inc. (the "Company"), the holding company for Berkshire Bank, announced its financial results for the fourth quarter and year ended December 31, 2023. The news release containing the financial results is included as Exhibit 99.1 and shall not be deemed "filed" for any purpose. The Company conducted a conference call/webcast on January 25, 2024, to discuss the financial results for the quarter and provide guidance about expected future results. A telephone replay of the call will be available through February 1, 2024. The webcast will be available on the Company's website at ir.berkshirebank.com for an extended period of time.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure The Company made available slides for a presentation that the Company utilized in connection with its conference call. A copy of the presentation can be found on the Company's website at ir.berkshirebank.com .
01 Other Events
Item 8.01 Other Events The Company also announced that its Board of Directors has approved a stock repurchase program pursuant to which the Company may repurchase shares of Company common stock at a total cost of up to $40 million through December 31, 2024. The Company may conduct the repurchases through open market purchases, block trades, unsolicited negotiated transactions, pursuant to a trading plan that may be adopted in accordance with Securities and Exchange Commission Rule 10b5-1, or in any other manner that complies with the provisions of the Securities Exchange Act of 1934, as amended. The news release containing information about the stock repurchase program is included as Exhibit 99.1 and shall not be deemed "filed" for any purpose.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (a)
Financial Statements of Businesses Acquired. Not applicable
Financial Statements of Businesses Acquired. Not applicable. (b) Pro Forma Financial Information. Not applicable. (c) Shell Company Transactions. Not applicable. (d) Exhibits. Exhibit No. Description 99.1 News Release dated January 25, 2024 104.1 Cover Page for this Current Report on Form 8-K, formatted in Inline XBRL
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Berkshire Hills Bancorp, Inc. DATE: January 25, 2024 By: /s/ Nitin J. Mhatre Nitin J. Mhatre President and Chief Executive Officer