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Berkshire Hills Bancorp in Pittsfield, Mass., and Community Bank System in DeWitt, N.Y., have struck deals to buy branches from Bank of America.
July 24 -
Berkshire Hills Bancorp (BHLB) in Pittsfield, Mass., and its Berkshire Bank have changed charters.
July 14 -
Berkshire Hills Bancorp (BHLB) in Pittsfield, Mass., has terminated all of its interest rate swaps associated with Federal Home Loan Bank advances through the end of last year.
March 11 -
The $5.7 billion-asset company said Monday that it had promoted Josephine Iannelli as its CFO, effective immediately. Iannelli, 41, had been the companys principal accounting officer since July.
January 27
Berkshire Hills in Pittsfield, Mass., reported higher quarterly earnings because of loan growth and gains from the purchase of 20 Bank of America branches.
The $6.3 billion-asset company's second-quarter net income rose 10% from a year earlier, to $11.5 million, or 46 cents a share. Total assets rose 21%, reflecting the company's purchase of New York branches from B of A.
Net interest income rose 8%, to $44.3 million, driven primarily by balance sheet growth. Total loans rose 14%, to $4.4 billion, primarily because of residential and commercial mortgage loan growth. Total deposits increased 17%, to $4.5 billion. The net interest margin compressed by 37 basis points, to 3.26%.
Noninterest income fell 7%, to $14.5 million.