Operating EPS of $0.55 increased 12% linked quarter  Operating revenue increased 3% linked quarter Operating expense decreased 2% linked quarter Net interest margin 3.20%, increased 5 basis points linked quarter Net loan charge-offs were 7 basis points annualized BOSTON, July 18, 2024 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE:BHLB) today reported results for the second quarter of 2024. These results along with comparison periods are summarized below: ($ in millions, except per share data)          Three Months Ended June 30, 2024 Mar. 31, 2024 June 30, 2023 Net income (loss) $ 24.0 $ (20.2) $ 23.9         Per share 0.57 (0.47) 0.55 Operating earnings1 23.2 20.9 23.9          Per share 0.55 0.49 0.55 Net interest income, non FTE $ 88.5 $ 88.1 $ 92.8 Net interest income, FTE 90.5 90.1 94.7          Net interest margin, FTE 3.20 % 3.15 % 3.24 % Non-interest income 20.1 (32.6) 17.1 Operating non-interest income1 20.1 17.3 17.1 Non-interest expense $ 70.9 $ 76.0 $ 74.0 Operating non-interest expense1 71.3 72.4 74.0 Efficiency ratio1 63.4 % 66.3 % 63.6 % Average balances2 Loans $ 9,214 $ 9,059 $ 8,791 Deposits 9,779 9,978 9,568 Period-end balances2 Loans 9,284 9,144 8,882 Deposits 10,095 10,368 10,068 1. See non-GAAP financial measures and reconciliation to GAAP measures beginning on page 12. 2. Loans and deposits in 2Q24 include balances held for sale in branch transaction of $57 million and $483 million respectively (average), and $55 million and $474 million (end of period). These balances in 1Q24were $18 million and $149 million respectively (average), and $58 million and $485 million (end of period). Berkshire CEO Nitin Mhatre stated, "Operating income advanced for the second consecutive quarter and we benefited from loan growth, credit quality, and expense management.  The consolidation of three branch offices was completed, bringing our branch count to 93, and we remain on target to conclude the pending sale of ten offices in the second half of the year.  Berkshire bolstered its cash management and government banking capabilities through promotions and new hires, and Brett Brbovic was promoted to CFO from his position as Chief Accounting Officer. Brett will continue our forward momentum supported by the strong team that he has built over his many years at Berkshire. Finally, I'm proud that TIME named us one of America's Best Mid-Size Companies 2024 recognizing our progress on financial performance, employee satisfaction and commitment to sustainability." Mr. Brbovic added, "The margin increase benefited from loan growth and impacts from prior quarter securities sales.  Net interest income increased $392 thousand linked quarter, following several quarters of decreases.  Operating non-interest income increased $2.8 million, primarily due to higher gain on SBA loans.  The loan loss provision increased by approximately $500 thousand, supporting loan growth and increasing the credit loss allowance to 1.22% of total loans.  Linked quarter operating expenses decreased $1.1 million due primarily to lower compensation and occupancy expense. The efficiency ratio improved to 63.4% from 66.3%. Capital ratios remained strong, with the tangible common equity ratio remaining unchanged at 8.2%." As of and For the Three Months Ended June 30, 2024 Mar. 31, 2024 June 30, 2023 Asset Quality Net loan charge-offs to average loans 0.07 % 0.18 % 0.26 % Non-performing loans to total loans 0.23 % 0.24 % 0.32 % Returns Return on average assets 0.82 % (0.69) % 0.79 % Operating return on average assets1 0.79 % 0.71 % 0.79 % Return on tangible common equity1 9.99 % (7.73) % 10.09 % Operating return on tangible common equity1 9.65 % 8.73 % 10.09 % Capital Ratios2 Tangible common equity/tangible assets1 8.2 % 8.2 % 7.9 % Tier 1 leverage 9.6 % 9.5 % 9.6 % Common equity Tier 1 11.6 % 11.6 % 12.1 % Tier 1 risk-based 11.8 % 11.8 % 12.3 % Total risk-based 14.1 % 14.0 % 14.4 % 1. See non-GAAP measures and reconciliation to GAAP beginning on page 12. All performance ratios are annualized and are basedon average balance sheet amounts, where applicable. 2. Presented as estimated for June 30, 2024 and actual for the remaining periods. Berkshire Hills Bancorp, Inc. ((