BHLB - Earnings call transcript Q1 2018 | Berkshire Hills Bancorp, Inc.

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Operator

Good morning and welcome to the Berkshire Hills Bancorp Q1 earnings release conference call. All participants will be in listen-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions]. is event this note, being recorded. Please now would turn the O'Rourke. Allison to over conference I Ms. ahead. go please O'Rourke,

Allison O'Rourke

Good you and results. morning thank first discussion quarter of for joining this

news the SEC. Relations the berkshirebank.com Our will available our and to of website, Investor furnished be is release sections on

statements. include those remarks materially will results differ statements forward-looking Our actual and could from

For detail SEC see on XX-K Forms please reports release earnings on our related and factors, recent and XX-Q. most

turn are should measures financial References addition, be provided of on as this call Mike you CEO, Mike? included non-GAAP measures and our over call. understanding performance reconciliation future GAAP measures Daly. relied In conference actual results to non-GAAP in financial will projections. discussed will in only A with assist comparison the not results to or And and certain upon news to is Berkshire's measures release. to trends be I and that,

Mike Daly

Thanks our of I us Good to Thank joining through this CFO. for Jamie Ally. and Moses, quarter specifics the provide for morning turn will walk the our I our in then morning it you, some you will will financials. over call. quarter an everyone. He first of overview

outlook it discuss and and will will guidance wrap our We I up. then our

moved We XX.X%. So ratio ROA, equity core kept return a below core delivered our XX% the good to start EPS, to tangible year. on efficiency in $X.XX X.XX% core and our

Total this our saw delivered was Greater are income out with pleased both Boston, that to in in this C&I and Boston that first growth we completed we We loans team solid market team, and were which quarter how market. integration in and our the of been expenses Importantly, managed and point. originations with grew X% quarter our ABL building and New Boston robust in our strong annualized has have teams a conversion we and team we went fee Jersey added this tightly. Connecticut New also the at and reception lenders We loan and Commerce We quarter ABL the markets. mid-Atlantic X% process pretty and our good in growth Jersey our annualized. pipeline from middle up system

deals Downtown, begin expect digit second opened our deposit we growth and we with new in and the early impact as as quarter, close the we the up loan least the mid-single the quarter. these and Both were customers allowing targeting single fourth this new to new locations growth equipped average including branch see are quarter in overall relocated annualized high annualized Albany our at a quarter. Pittsfield. interact organic We teller business Simsbury, to to next X% commercial Average branch. deposits of Commerce over Connecticut digits in in technology, So virtual telecenter as with

locations have also pretty from now technology also this customer experience have year-end opened a headquarters. results we utilizing an will and positive and perspective. We And by early efficiency Boston XX have our officially been standpoint

point. out And as we bankers in executives, over team market. expect will customer base go-to to up that at of Street this further I the office build State MyBankers our establish and got have as We XX year that add private bank work course we at to the lenders, ourselves continue and the of there a

are a another of great the it's what good we Customer great completed more March. building are it all anticipated. mentioned, about market, than It's a deposits conversion. feeling and we I reception has integration end Commerce and good we systems are retaining team been we was pretty As accounts, at there. positive we By the

it to going the will wrap and up. quarter detail and I am it review turn to Jamie I then he over point, will more and provide Jamie? this at Now, some

Jamie Moses

in $X.XX the X% XX% $X.XX includes EPS equity assets delivered and Thanks of first increase the year-over-year. mark-to-market GAAP Mike one-time conversion the a increase XX% over quarter, were quarter. EPS reported an in earning everyone. Overall over our which portfolio. the of and We the average quarter Commerce and morning We charges core fourth good to fourth of system tied up

up X.XX% up came net the we interest point we the million quarter, recoveries as the accretion a the benefits margin year the quarter back NIM in first the which X.XX% accretion. expected. should we it Our at Purchased than in was of Outside few on and FTE from purchased the scheduled of anticipated second half of In QX, margin. hikes $X.X in overall to adjustments, the rundown be basis and accretion. points stabilize loan excluding fewer accretion basis expect gave in rate loan and offset included one

fee decline be second a did flat through quarter, the in insurance, be loan $XXX that the for second first line the was with expense in offset most expectations. accretion the mortgages held we banking The provision number new $X.X managing growth income million offset the and mix loan XX% coming to sale closer on quarter with quarter production about For first deposit mortgage higher million The exceeding mortgage saves. was revenue $X slow a quarter, to million. in the wealth income lower noninterest matching anticipate million expenses and quarter-over-quarter to in as and loss management net nice charge-offs. anticipate purchase. with $X team of originated fees. job number in We We Overall quarter,

we see and The our results. be the ratio efficiency tightly first the second controlled XX%. expenses seasonally over quarter up sales income first quarter below to income for remained XX% our about quarter We businesses and in mortgage stronger should noninterest including and loan fee SBA expect

from projected achieved cost addition In lower to mortgage expenses, the and integration we early. benefited the related some of saves the Commerce

be a charges Commerce. training. in anticipate last low We are and expect tied million below deal people $X with that now in total we should the third second production quarter a single-digit to and in means with That in a second original final fairly expenses QX quarter non-core in loan to clean for operating million increase investments integration charges, deal We the very to quarter us. brings see through quarter projection. which our higher fourth and and $X clean the a cost associated

tax rate first in XX% GAAP Our quarter was XX%. core the was and our rate tax

of We quarter continue the rate low the All share. XXXX around will in the year that was at XX% end, range to be quarter full the coming to we XX.X our expect per be with shares. per earnings second expect core And to XX% $X.XX core end tax together, the At about assets. quarter equity estimate share second to that. of with tangible million in GAAP share EPS count X.X% tangible we around average $X.XX diluted in

X.X%. return GAAP to core ROA to basis ROE XXX and improved moved XX.X% on points. Core Our equity GAAP XX was was tangible and points return up assets basis on

Our financial back condition good up to are that, to Mike. this is will results set turn and deliver it solid With over we I year.

Mike Daly

you Jamie. Thank Okay.

core growth Jamie north year. to putting X% second as and And of above $X.XX ROA on deliver said, our target core for XX% EPS expecting improvements metrics, below we our full-year core core for the the So around the are ratio of ROA XX% to our in X.XX%. with to profitability we strong remain quarter efficiency EPS with in XX%

fully feel is immediate the our our recent most with performing We into about buildout are operations culture. integrating operations are how acquisitions, going. out of good well our the and really our get Boston goal we pleased Our Mid-Atlantic how is

come together our initiatives see in next several the to to strong results as value. quarters expect We drive

to We all hard up going questions. your delivering give get promise support the we with our that, have towards have high-performance you worked With that I you am to to have expect. open it any here to and

Operator

comes the question first with from Instructions]. Fitzgibbon O'Neill. And Mark [Operator Sandler

Mark Fitzgibbon

morning. Good

Mike Daly

are How Mark. Hi you?

Mark Fitzgibbon

what saves Great. much in extracted? for on I would the Mike. be wondered timing rough Thanks Jamie, maybe that if, would you guestimate cost remains to Commerce be? And how

Jamie Moses

Yes.

So thanks Mark.

I think million extract. that cost can have $X about that we we Commerce so saves or in another

fully of, in half going in saves we a QX That we up And So to with thought terms light show going people again, be in Commerce. is is where to that's the QX it of back-end. to were we but that's be. going then QX of sort will that, just about and should little show fully

Mark Fitzgibbon

secondly, in the there with if the Boston, if, could into you deposit Okay. this market, and wondered you And had maybe growth expansion loan Boston quarter? I update then us on

Mike Daly

Sean?

Sean Gray

Sure.

to are We market. up four branches the in Boston

million Now with $XXX commerce deposits are over the integration.

over As novo our you first branch Street. millions. on we up $XX is Congress know, de That branch opened

out with including pushing including $X to So in markets. the you Worcester, now and are the Boston as Greater That's very that's loan probably towards pleased Boston we progress. the ABL we Worcester. perspective, a Greater are billion not but move From

Mark Fitzgibbon

side if mortgage look wondered share both the I in well as like, Sean, the as the Okay. on And then us now? right what could commercial with pipelines you business

Sean Gray

over million. are pipelines $XXX Commercial Sure.

ahead the pleased Commerce schedule. are We is integration of

We off recruitment, are about. strong Mike like talked coming

So running got really we room. have good

is part other mortgage. The million. XXX at was Mortgage

Mark Fitzgibbon

what Okay. America's excited Great. about you you lastly bank, And Mike, are today? that exciting your then guys most most being in are business

Mike Daly

question appreciate this. advertising asked you would I a Mark, it. and That's say and I us. great way for that's the branding good

are across are that footprint. of exclusively almost the excited a think concentrate now products strong we a integrating pretty pretty we we I on have at can all different point all we where

So billion. we are past $XX

we it. have full cross-sell The realize expected numbers in a our got the lot there a people be it the of order us in have And across of are for to coming on done We each ground we way. to has way that potential. regions new our to do that

about the picking across So products franchise. base with now up in company there filling a pretty lot profitability is additional excitement strong regional of the and a right then additional customer

Mark Fitzgibbon

Thank you.

Mike Daly

you. Thank

Operator

Partners. David Thank comes question the you. next with Bishop FIG from And

David Bishop

Good are Hi. doing? How you morning guys.

Mike Daly

Good, Dave. doing? How you are

David Bishop

seasonality what's acquisition know of know XXXX? deposit the don't could through with in the and as seasonality normal I see some how you moving trends be you sort of walk through some if we their I book. of terms in do there go deposit terms Commerce, of Good. could

Sean Gray

is payroll Sure. really deposits. their with The seasonality big

the payroll of will balances the depending on deposits, end So where quarter you your is see fluctuation.

healthy balances forward, average will through $XXX growth payroll see high digits of fluctuate staying in remain end at on see that date business quarter. average could as within that business that the mid-single although an as that fluctuation within million we quarter the So itself, where balances you payroll of payroll going depending

David Bishop

some comment footprint? Got it. competitors? just of, in across terms of out have your deposit of terms seen Any there rationality in larger overall, you just a sort bit a the maybe of pricing And

Sean Gray

leverage larger The franchise and convenience their competitors pretty value, their factors. have they really disciplined leverage been

liquidity It's specials. aggressive the of have seen with We pressure typically competitive the of some smaller tick been folks very with some some and up. struggling competitors

David Bishop

you. Thank it. Got

Mike Daly

Thanks All lot. right. a

Operator

next Point. And Compass Hunsicker question you. with Laurie Thank the comes from

Laurie Hunsicker

Good Hi. Yes. morning.

Mike Daly

Hi are Laurie. you? How

Laurie Hunsicker

Good. Thanks.

interest net the your income Do to Just we you thinking year? back have How a we I here. wondered $X if the million. for accretion of that? guide about of have rest could go layout are got XQ

Mike Daly

Yes.

down can the that, the you going Laurie, over that's think think I to year. about rest come of

I a think about numbers, think it round maybe you should quarter. as about $XXX,XXX in

Laurie Hunsicker

down, Then Great. okay. it comes

And your about your banking then think loan hires, do and just we as commercial think playing private those we growth, out? how Okay. teams again recent about

Mike Daly

additional and as Meaning pipelines And and hitting expect be Mid-Atlantic they looks as with now right both can volume? growth in you as in Sean we on place the teams the it all the far area, whether though get cylinders. we it, are specific put Boston but there probably it specifically in to

the growth commercial addition would we strong So good from of with those that? here teams. real forward Is expect

Sean Gray

mean about ramp and I started months your three in the to QX usually QX. to see opening comments takes and Well, it Yes. truly six you up that recruitment. them mentioned in

and high growth So in loan we single feel digit about that general. very loan bullish commercial growth

Laurie Hunsicker

Okay. am I sorry, And I missed.

are expectations growth loan total this year remainder Your what? of for the

Mike Daly

Yes.

I thing. think the same

We digits. high mid will to single say

Laurie Hunsicker

that Okay. can be should XX% loan about specifically? saw us and on we mix CRE, we help mean that's And zero you growth of that? your thinking about then think How just there. I

Mike Daly

the portfolio, we off Well, I in when obviously quarter that a think moved the that commercial took Commerce we the and the one of with balance there busy first loans estate look were integration saw, real some of were we a the things sheet. at you

from overall of the So the have that other go rest here effect we growth the of growth growth. we had year, in estate would say, commercial real that? some the on estate towards But commercial real product any Is I the mirror that commercial. would as

Sean Gray

Yes.

growth healthy it C&I think slightly will in but see I to growth, trail will line. that you

Mike Daly

Yes.

Laurie Hunsicker

mortgage Thanks. what And banking on In to net contribute the Great. was did then other your of $XX million, that? we contribution net if Okay. at mortgage number? much words, looked income banking, how the

Mike Daly

Yes.

about think in and pretax we margins business. talk XXbasis that we this way at the at about is about look So that it, points Laurie, it

Laurie Hunsicker

expenses? including Okay. And that's

Mike Daly

Yes.

Laurie Hunsicker

Okay. you about the And projecting of terms then same? XXXX, are in

Mike Daly

expect and and out it that. would be interest things Yes. assuming rates, mortgage way same the predict revenues a about yes, the We to business then expect to wild the like and no there long is on that that's be margins But there. to changes banking fees we would in

Laurie Hunsicker

get where stand save, Firestone terms originations, Great. And we you tax with an Okay. balances, and then update can just respect to of charge-offs? nonperformers on us in

Mike Daly

Richard?

Richard Marotta

Yes. Laurie, this the of way Richard. Again, total perspective, than book. less of is commercial as is loan Firestone X%

balances about portfolio up that going and everything's strong in XX% metrics to quarter-over-quarter. the about remain million, were very, $XXX So plan. according Credit very

-- As far Medallion the as portfolio

Laurie Hunsicker

interrupt just sorry to am you. I Richard,

on that? you quarter million last had have nonperforming. number So Do nonperforming you a $X.X

Richard Marotta

$X.X million.

Laurie Hunsicker

$X.X million.

actual your were what And Okay. originations?

Richard Marotta

approximately. million $XX

Laurie Hunsicker

million. $XX

Okay. And charge-offs? no

Richard Marotta

No.

Laurie Hunsicker

Okay.

Richard Marotta

charge-offs. of $XXX,XXX I worth am sorry. About

Laurie Hunsicker

Thank you. Great.

I mean And interrupt Okay. am didn't to then taxi? I you. then And sorry.

Richard Marotta

to Yes. is Taxi, there everything going plan. according

higher. quarter-over-quarter, actually Our cash-in, was

So no than higher the credit and has fourth portfolio. loss, that was deterioration and it XX% been never still charge-off No in over metrics the quarter never, first portfolio remains any delinquent. cash-in in No quarter. was the of

Laurie Hunsicker

Okay.

period-end your actual so balance? what And is

Richard Marotta

million, marked, net. below $XX It's

Laurie Hunsicker

Okay.

is million, So basically I in back to that grossing right? $XX reserve, am million $XX

Mike Daly

That about right. would be

Laurie Hunsicker

Okay.

So you million. $XXX are

$XXX So from it million? then the increased slightly

Mike Daly

No, it's down.

Richard Marotta

Laurie, when quarter-over-quarter. $X math, it's down you the probably do million

Laurie Hunsicker

that? also then e Is $X reserve against you correct? And have Okay. million another that

Mike Daly

Approximately.

Laurie Hunsicker

that Okay. nonperforming? about Do last And have of had $XX then member nonperformers the current there a was you million. I in

Mike Daly

this we We that's on all at are disclose entertain and to this point. offers portfolio probably want

Laurie Hunsicker

it. Got

That sense. makes Okay.

fit your how are there, you prospects about can and Boston could expanding? you that how bit little of growth terms in about a M&A talk generally, into Mike, puzzle potential So of thinking

Mike Daly

in if that something of Mark most when are certainly excited are an partner we Well, one do we would know, to we take M&A are you, at can we we tell getting the as made that right it. we things a that I was think look was any you company of in and something, there we think opportunistic to that of the potential regions And I one look I most at is always that the what a built. about. we with opportunity sense, excited as got have started out Fitzgibbon about the asked most the is now juice But thing

additional to partners. be it's out right acquisitions So ours not a seeking priority of now or

and from Our that's grow at at any look is continue that it's just be that I but is there scope to looking now. we market opportunity, metrics. improve And at priority or a will profitability of it, want right right all? to plan the help strategically to whether part an if now That in are company the Massachusetts share clear standpoint overall and Eastern other as we something the regions,

Laurie Hunsicker

Yes. Thank much. you very

Mike Daly

welcome. are You

Operator

Gilbert next the And comes with from you. KBW. Collyn Thank question

Collyn Gilbert

Thanks. Good morning everyone.

Mike Daly

Hi Collyn.

Collyn Gilbert

we if SBA the were you Jamie, through go of the Just could What made. some fees just quarter? fee this comments

Jamie Moses

that. They just under were slightly right $X million, around

Collyn Gilbert

is business to specific SBA quarter, mortgage going getting of next the a line of more in fee about just kind that Okay. little how that on be going expectation is And flow then bit to through? mortgage talk and you terms when up

Jamie Moses

Right.

going up QX. it's to in be So seasonally

I it the that $X you maybe about think So million things. is so think of on should mortgage way revenue or side up

talked other about. So going we that's up that land of inside kind and to then the that range where of sort all expenses that's land

Collyn Gilbert

Okay.

of that's last So million, I to like lighter it is a a which $X maybe that did nice than little guess XQ. XQ maybe guys comparable. kind you increase bit was a

strong. for it sounds a from So going your on still even outlook mortgage is macro like pretty given what's perspective,

Jamie Moses

from the in feel the Yes. think and to area. good what has delivered continue about for Choice Collyn. First around going we business I run acquisition strong, We that is mortgage to say it would it's us pretty that

Collyn Gilbert

quarter Okay. That's you of right? I that income second helpful. Is heard growth fee And say, then XX%. in the

Jamie Moses

Yes.

Collyn Gilbert

Okay.

ahead. curious want sure Just go comparing make I base? just Is also apples. to -- just that what to that apples

Jamie Moses

income, noninterest Collyn. it's mean off I Yes. of

Collyn Gilbert

So the reported number?

Jamie Moses

Yes.

Collyn Gilbert

the So -- loss securities

Jamie Moses

I see we understand think your will I that's it. Yes. correctly, where If question

Collyn Gilbert

Okay.

that there. So in securities it includes loss

trends right. Is expecting about portfolio? Commerce? a the too Commerce That's a or should question of know, that within we deposit loan coming deposit All there David And run-off off I Okay. helpful. be then asked run-off

Jamie Moses

little Going we Collyn. real some estate a Mike forward, talked of no, of I so, sort bit commercial sold down. think that don't the about

Mike Daly

feel we And about ongoing of We good market some an managed basis. now. right pretty that on that

Collyn Gilbert

That's in Okay. of investments your out tax you on that rate XXXX, helped you of and we get of if as operating helpful. and broadly, of and about growth XXXX think Or company X%. think by finally growth and the as other look growth look a like have rough guess, I all you the do driving plate, XXXX? about Obviously, guys trajectory as the just just and have And XXXX all kind you as well so then to this, you is potential acceleration things. profitability we you where EPS initiative just Mike, think made, is of generated -- But earnings you for do come? where have sense in year initiatives EPS the the at estimate the can for this guys trying what a business

Mike Daly

where be feel those to now numbers right probably consensus when Collyn. we let's think we I have across numbers, you guidance are a the little look those board meet. at we XXXX, But consensus of on if got a people It's take you think and have speculating look can early at the us that say, for, I

Collyn Gilbert

Okay.

Mike Daly

That's allowed this about would guide think as point. to at I specific as be I

Collyn Gilbert

problem. No Okay.

on at look Okay. credit Good. areas or credit? are side? you all on the taking just outlook for where or concerned And anything Any harder anything your then at a somewhat

Richard Marotta

this Collyn, Yes. Richard. is

Mike Daly

Nothing systemic.

Richard Marotta

and that at and at nothing footprint. don't see no is anything trends point across this There Yes. we look all. constantly There the we is at

Collyn Gilbert

will That's Thanks Okay. helpful. it guys. I leave there.

Mike Daly

Thanks Collyn.

Operator

Jaffray. And you. the of Thank comes question next Breese Matthew from Piper

Matthew Breese

Good morning everybody.

Mike Daly

morning. Good

Matthew Breese

fee I outlook. the to just income banking the mortgage on want hop outlook, back

there little it the as bit more million quarter-over-quarter increase. of the you be a when I than And carries $X a million, $XX noted think could about base $X XX%. think I high as million

So I that to a we just there? be Is should down get little anything XX%? be there bit will wanted what to carry to items offsetting income on the about fee some get thinking color will

Jamie Moses

Yes.

are and seasonally wealth insurance well. in So as QX up

I the in be So be there some would some drivers think going And of offset that to that. those is there. offset would main

Matthew Breese

obviously then also we cost There parts from think should saves moving accelerated. on a get the front, banking. Commerce on about be modeling what for expenses, expense mortgage Okay. want some sense I were on as to And a trajectory we the year was some growth did But there?

Jamie Moses

it's the be right. So to seasonal, again for year, going

going So do. I see it's year. think much then on digits you year are to that's single digits again, up to five, single much SBA how going on sales matter in, be up going between or the the loan to low mortgage comes how But we

I is the think are tough ratio about And going as that we it, to variable going are have how to think it's an Matt, seen those under to efficiency way for businesses year for year, haven't be another well. XX%. we when the

governor guess So on that could be I your that.

Matthew Breese

it. Got

then And one more you. Jamie, Okay. for

outlook. the note longer did You term margin

you it that core see some core us could to on imply the stability. Does As be we accretive here? just bit half give more expansion you the like get coming NIM, down little that and sounds the the a NIM some you there? maybe will margin Or to trajectory should see that, color should back yields year,

Jamie Moses

going But they say competition rate. little of this be is be how half to guess it's could in think we higher of lower, as could there a year. expansion. our see so have about needs think back it there be lower as long-term it deposit than stable and Matt, And we have Yes. react. to the out We people going moment, the some talked I to on the for. accounted betas way. be a muted, depending you little or would I that some the brought past At sort are up, other run in

be So we of kind guiding where a little that be bit moment. it at That's little it a bit lower. could could the higher, are

Matthew Breese

yield And or at sheet then flatter all, curve has way the the another? one sensitivity impacted bank's balance

Jamie Moses

think so, I Matt. don't

of where be. We sort are of sensitive neutral still to and we kind asset want right to

Matthew Breese

getting as Okay. last priority then like And two priorities possibly my number the juice Just sounds and it number can. bank much out as three? curious What Mike, is one. one of you there. and are integration

Mike Daly

said, priority company orange the number continues our is is Well, Priority culture across the two the probably in ensure all region. one, I of to ongoing every squeeze regions. of that of number as course, to

new got have companies. We

because We have have to and of got new company aspect living a the in And fast-paced and that very be and able are to people integrate. important to we have react. particularly flexible company be to this people is environment the they

and of And the of we driving on ensure be have metrics what always that I sure think to make of always that to going new those we same regions, at since are with well. as out so to those, the looking all do of regions we are same expectation. that of as we that's this performance we company, each that page want regions one part the when to company want a everyone's we respect

accounting financial going So company. is additional and product in the on additional accounting,

better better if a are and some we partnerships makes additional And will produce. are a as for to better we that point, think up But company think we getting as and I a have entertain, more partnering as then we to company to data them. perform us have get entertain the easier. we I company there at

Matthew Breese

all I had. you. Thank Understood. That's

Mike Daly

Thank you.

Operator

next question And a you. Thank follow-up Partners. FIG is David Bishop from the with

David Bishop

Yes, Thank back the loan to just Yes. you. portfolio. circling

credits. CRE the of some exiting noted You

consumer that exit? related specific to decline the picked was that there, loans, maybe you wanted the on curious, similar was side to something in Just anything Commerce

Sean Gray

that have They strategically book are exiting. classic did we a car,

that. there that in drove noise So was that some

David Bishop

sense Any dollar of of the volume decline? that

Sean Gray

$XX million-ish.

David Bishop

am I sorry.

Sean Gray

and the follow-up And number. million. you $XX can get we About exact

David Bishop

of hires. And the then just Mike, terms outlook for new in Okay.

Boston. or addition and in the New expansion the Jersey noted You

digits back terms you enter Just the year? looks talking the outlook the what in what Double-digits? bodies? to thinking Just half of single we new you as Are curious into of as are like?

Mike Daly

how lot a with number depends of to additional that doing employees respect teams. we not surprise will add me all It double-digit are Well, a we and additional penetrating in if on another market. always

going have We could we the out company a we a of that helpful and in good lot the got home. we have we a there there to can good think and them be on provide brand and us lot a A-players think us contact

think, is And far so I single-digits below. It's probably double-digits.

David Bishop

Great. Thank you.

Mike Daly

Thank You you. are welcome.

Operator

you. present Daly Thank any as I more there return no to And to are call like time, at would closing questions the the for Mike comments.

Mike Daly

sunshine Terrific. a look second Well, for on joining Thanks quarter with thanks us. again speaking to everybody call warmer. We the our little again. when forward is

Operator

you. today's attending conference now Thank for presentation. The has concluded. you Thank

disconnect may lines. your now You

Allison O'Rourke	Executive Vice President, Investor Relations Officer
Mike Daly	Chief Executive Officer
Jamie Moses	Senior Executive Vice President, Chief Financial Officer
Sean Gray	Senior Executive Vice President and Chief Operating Officer of Berkshire Bank
Richard Marotta	Senior Executive Vice President and President of Berkshire Bank
Mark Fitzgibbon	Sandler O'Neill
David Bishop	FIG Partners
Laurie Hunsicker	Compass Point
Collyn Gilbert	KBW
Matthew Breese	Piper Jaffray

Berkshire Hills Bancorp (BHLB) 24 Apr 182018 Q1 Earnings call transcript