Berkshire Hills Bancorp Receives Strong Shareholder Approval

Berkshire Hills Bancorp, Inc. (NYSE: BHLB) recently held its Annual Meeting of Shareholders where all three proposals were overwhelmingly approved, with approximately 91% of outstanding shares voted in person or by proxy. Shareholders voted to approve the election of all eleven director nominees to serve a one-year term and provided advisory votes on executive compensation practices and the appointment of Crowe LLP as the Company's independent registered public accounting firm for fiscal year 2024.

The company's proxy materials highlighted Berkshire’s solid performance in 2023, with key operating metrics showing significant improvement. Berkshire's CEO Nitin Mhatre expressed gratitude to the shareholders for their vote of confidence, citing the company's outperformance of the median of its peers on key operating metrics identified in its proxy.

In 2023, Berkshire achieved a 10% operating return on tangible common equity, signaling an improvement in operational efficiency and profitability. Additionally, the company increased its annual dividends per share year-over-year, demonstrating a commitment to delivering value to its shareholders.

Berkshire's focus on building momentum to improve long-term shareholder returns and its vision to become a high-performing, relationship-driven, community-focused bank were highlighted as key drivers of its strategy.

With $12.1 billion in assets and 96 financial centers, Berkshire Bank continues to deliver industry-leading financial expertise to clients in New England and New York. The bank provides a full suite of tailored banking solutions through its Commercial Banking, Retail Banking, Consumer Lending, Private Banking, and Wealth Management divisions.

Berkshire's performance in 2023 and the overwhelming support for its proposals at the Annual Meeting underscore its commitment to delivering value to its shareholders and strengthening its position as a trusted financial institution in the region. Today the company's shares have moved 0.3% to a price of $23.46. If you want to know more, read the company's complete 8-K report here.

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