Berkshire Hills Bancorp, Inc. (BHLB) financial statements (2021 and earlier)

Company profile

Business Address 60 STATE STREET
BOSTON, MA 02109
State of Incorp. DE
Fiscal Year End December 31
SIC 6036 - Savings Institutions, Not Federally Chartered (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,58662124026112611872
Cash and cash equivalents1,55858018324911310472
Short-term investments284257121314 
Disposal group, including discontinued operation     13 
Total current assets:1,58662124026112613172
Noncurrent Assets
Finance lease, right-of-use asset78
Operating lease, right-of-use asset6076
Property, plant and equipment113121108109938887
Intangible assets, net (including goodwill)35599552558423335276
Goodwill 554518519403324265
Intangible assets, net (excluding goodwill)35463338191112
Deferred income tax assets4651
Total noncurrent assets:261856660667516423364
Other undisclosed assets10,99111,73911,31210,6438,5207,2786,067
TOTAL ASSETS:12,83813,21612,21211,5719,1637,8326,502
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt401251,1196701,0851,074904
Total current liabilities:401251,1196701,0851,074904
Noncurrent Liabilities
Other undisclosed liabilities11,61011,3329,5409,4046,9845,8714,889
Total liabilities:11,65011,45710,65910,0748,0696,9455,793
Stockholders' equity
Stockholders' equity attributable to parent1,1881,7591,5531,4961,093887709
Preferred stock 414141   
Common stock1100000
Treasury stock, value(31)(70)(22)(24)(27)(29)(33)
Additional paid in capital1,4271,4221,2451,242899743585
Deferred compensation equity(6)(8)(7)(7)(6)(7)(6)
Accumulated other comprehensive income (loss)3112(13)410(3)7
Retained earnings (accumulated deficit)(233)361309239217184156
Total stockholders' equity:1,1881,7591,5531,4961,093887709
TOTAL LIABILITIES AND EQUITY:12,83813,21612,21211,5719,1637,8326,502

Income statement (P&L) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues383449469420298268226
Net investment income358449411308243211 
Financial services revenue135686053
Cost of revenue(76)(35)(25)(21)(17)(17)(15)
Provision for loan, lease, and other losses(76)(35)(25)
Financial services costs(21)(17)(17)(15)
Gross profit:307414444399281251211
Operating expenses(602)(42)(45)(200)(134)(123)(117)
Other operating expense, net(6)(28)(22)(32)(15)(18)(2)
Noninterest income, other operating income      6
Other nonrecurring (income) expense(6)(28)(22)(32)(15)(18)(8)
Operating income (loss):(300)34437616813111193
Nonoperating income      3
Investment income, nonoperating      1
Bank owned life insurance income      3
Interest and debt expense(93)(144)(112)(65)(48)(33)(28)
Other undisclosed loss from continuing operations before equity method investments, income taxes(140)(76)(131)(3)(6)(23)(22)
Income (loss) from continuing operations before income taxes:(533)124133100775546
Income tax expense (benefit)20(22)(28)(45)(19)(5)(12)
Income (loss) from continuing operations:(513)10210655595034
Loss from discontinued operations(20)(4)     
Net income (loss) attributable to parent:(533)9710655595034
Preferred stock dividends and other adjustments(0)(1)(1)(0)   
Net income (loss) available to common stockholders, diluted:(533)9610555595034

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):(533)9710655595034
Other comprehensive income (loss)(0)(0)0(0)0(1) 
Comprehensive income (loss):(533)9710655594934
Other undisclosed comprehensive income (loss), net of tax, attributable to parent1926(13)(6)13(9)16
Comprehensive income (loss), net of tax, attributable to parent:(514)1239350724049

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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