Berkshire Hills Bancorp (BHLB) Raises Quarterly Dividend 4.8% to $0.22; 2.3% Yield
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Berkshire Hills Reports Operating Results; Dividend Increased; Annual Meeting Announced
January 25, 2018 4:10 PM ESTPITTSFIELD, Mass., Jan. 25, 2018 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) reported that fourth quarter pre-tax income grew by 82% to $19.5 million in 2017 compared to $10.7 million in the prior year. This improvement was due to business development and the benefit of mergers, including Worcester-based Commerce Bancshares Corp. which was acquired on October 13, 2017. Net income after-tax was impacted by an $18 million non-core charge to income tax expense resulting from federal tax reform enacted near year-end. This reform is expected to benefit future earnings due to a lower statutory federal tax rate beginning in 2018. Net income... More
