Berkshire Hills Bancorp, Inc. and Berkshire Bank have announced an executive transition, with R. David Rosato, the current Chief Financial Officer, stepping down to pursue other interests. Brett Brbovic, who has been serving as the Chief Accounting Officer, will take over the role of Executive Vice President and Chief Financial Officer effective June 14, 2024.
During Rosato's tenure, the company made significant financial and strategic progress, including strengthening the balance sheet, improving expense management, and reaching agreements to divest 10 financial centers and execute two securities sales.
In terms of financial performance, Berkshire Bank has $12.1 billion in assets and operates 96 financial centers in New England and New York. The company is committed to maintaining its recent momentum and aims to be a high-performing, relationship-driven, community-focused bank.
Brbovic expressed enthusiasm for his new role, emphasizing his commitment to building on the strong financial foundation laid by his predecessor and working towards delivering stronger returns for the shareholders. Today the company's shares have moved 0.7% to a price of $23.21. Check out the company's full 8-K submission here.
