BHLB - Earnings call transcript Q3 2020 | Berkshire Hills Bancorp, Inc.

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Operator

Good morning, and welcome to Berkshire Hills Bancorp 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] Please note, this event is being recorded. I would now like to turn the conference over to David Gonci. David. ahead, go Please

David Gonci

morning, quarter you results. Good discussion joining of third and you. for thank this Thank

be SEC. Our our this Investor provided at our will ir.berkshirebank.com, Relations release in remarks. section to news is at will of website, available an information and berkshirebank.com, our is we investor in information Supplemental on presentation the furnished also the website and to refer

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

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

future on In conference are financial addition, you or projections. and included Gray. turn be CEO, certain measures non-GAAP results actual The measures and to the Acting on and provided References to with will in of measures measures be non-GAAP trends discussed our call financial our in that, reconciliation is Sean release. results not performance GAAP this to news And understanding I’ll to comparison assist over call. should only relied as

Sean Gray

you, for Q&A our George Officer. joining and Lindenmuth, call. Moses, us thank be is our Commercial for by our Risk Dave. Georgia Leader; will Credit Banking Chief Officer; you CFO; With and Jamie joined for quarter earnings and third everyone, Bacigalupo, today Good Melas, Chief Thank this me morning morning, Greg

on start by financial stronger driving performance. focused release, earnings been me Let have saying that last since we our

higher due and to measure and revenue XX% Our quarter-over-quarter capital to and by expenses. to XX% our continued liquidity strengthen. revenue pre-provision The of core ratio from pre-tax, lower XX% metrics efficiency improved increased

market. payment schedules loan our normalizing Additionally, normal as towards in in we were made moving progress back great business operations our customers

with been XXst-century immediate have also developing bank. taking steps, While we moving been these our have community we forward

preferences in, of result customer capacity have the accelerated shifting invested respond we that As workplace and already changes we’ve to technology in the and dynamics. the to cultivated we’ve the a team

our upgrading enhance experience introduced by customer out our e-signature rolling We platform. our account experience call digital an center opening industry-leading and and have

and both dedication the goal profitability strengthening towards time to steps. objectives. team of rationalize developing during executive assure I company strategic corporate the our closely of that needs that culture. markets our also leadership our while the working corporate team We’re in shifting and initiatives are grateful transition, improved larger the pandemic branch together this estate the at actions that XXXX. for our I’m the whole of the Board At level committed footprint necessary you are serving We taking want to and and and with our we matter understand real of the

Our volumes remaining transaction economies, markets normal the and of quarter some most digital moved channel usage the certain remains credit elevated. Commercial as subdued back activities. third demand reopened were our business forward in regions active towards with were continues uncertainty. with as continuing face restrictions planning and General to

remained banks clarification quality and as focus for loan at time credit to loans PPP forgiveness rules. update. Our unchanged want of I a this on customers waiting

investor in We presentation have information. with credit slides our updated some

years continue several work and credit portfolio. team assess which Our risk to to for lending the with reported have teams, actively me to our manage

We’re a have our administration. we of a pandemic being in understanding credit as proactive credit And comprehensive result, risk. our

September. the loan COVID our third delinquencies, charge-offs. performance payment in remains line loan traditional in metrics and We reductions in Our in disclosed quarter, non-accruals including deferrals

downward remain trend. Our presentation shows that on these a investor deferrals

reporting. we and as for narrowed industries view that we COVID the these the are preponderance that of have loan commercial modifications accounts the We sensitive

year the loan reserved and for based for declined this cautious customers. pandemic our maintain losses and from from accelerated strong customers for loan strive credit The levels Our discipline We with activity. health outstanding and of we’re on customer loss current communications loan higher the prepayments. along of half the provisions are with reflected liquidity the comfortable that elevated process first year. the has we decline related outlook demand loan And a public properly economic in

Our in community. to strong structures funding provider have be we well-positioned to are needs qualifying preferred appropriate environment. with a our teams respond this pricing and capital credit to And are regional credit sources to that and

on remain our our point, making dedicated well-positioned metrics. Our as service teams At Jamie? financial this go full comment markets to maintain and prudent I’ll we have Jamie I to that decision we this to forward. are some serving further of confidence ask with

Jamie Moses

of and at Sean. per was produced X.X%. share and EPS On per Thanks, core basis XX core $X.XX XX a resulting ROE X.X%. GAAP We EPS basis, ROA points a ROE a points $X.XX core was of basis was in ROA share.

and core results basis. $X is operating compared were quarter-over-quarter benefit XX% million and posted in on quarter in also million the which We prior both to quarter. XX%. year-over-year. the $XX expenses quarter-over-quarter lower measure to The in this to clearest the revenue efficiency up a non-GAAP from higher Our of It improved ratio, PPNR, of which shows our by increased up third

which activity Our fee normalized by X% back increase was moved revenue income, based a higher toward driven levels. deposit gain on fees mainly in was as customer

a lower the both We also volumes secondary stronger pickup nice swap market which had in mortgage during commercial banking on SBA offset and in lending, quarter. income revenue

in income the remain fourth near fee levels total expect quarter. We to these

change balances that balances. Getting is a Turning while little to interest income loan we to slipped after aside, by the due volumes earning further loans, decline firm basis the expect XXX in fourth assets. little revenue and quarter. loan lower X% end, to was margin to these will The reflected at low begin likely This PPP it points income. net changed year

portfolio offsetting minimizing higher including and reducing funds. this wholesale and are on costs expanding focused the decrease We investment

reductions but forgiveness further to net expect that income fourth At cost interest yields. the benefit deposit in loan we loan some time, We XXXX generally may offset expect will most see results, we quarter. benefit in PPP changes this

end of quarter. the at net million the unamortized PPP deferred $XX.X Our fees totaled

the was million material provision had ratio $X Turning loan quarter. our the to protection, QX the loss expense to loans the Since there third portfolio the of the modest allowance economic decreased. forecast overall during better during the end provision. a was slightly change There no and we credit allowance in quarter, a at of previously emerged buttressed

Moving was quarter, the on elevated due the to second to from These which bonus to loan expenses. came related one-time down PPP originations.

QX. We expenses also we flattish other the continue during quarter QX on keep focus expense close are relative and reduced we compensation operating as a targeting expense in to to

months. to Moving the losses tax a quarter credit tax first the had to small we in the for line, the six due recorded

to of income. separation factors of the but $X We million depend timing affecting on area We will expect in XX% recorded fourth quarter, the pre-tax tax be rate the in this the agreement the after quarter. during primarily in was tax the the due and was non-core third quarter charges the related of into fees. entered cost that This professional for to CEO

on expect key of to to costs on complete our progress the record transition costs to is operating that the our discontinued those continue goal components allow. noted as wind-down operations, fourth in made this I’ve we and on build quarter. but We progress conditions

were was the earnings most we And procedure, dividend level new you beginning our As about the cutting we in better generation. we decision to communicate will of know, quarterly with announced the dividend. our current with dividend align this later recent with payment. quarter half Consistent the in our that next

as to with stock reinitiate metrics call based that there’s market our buybacks, improve view on to opportunity we conditions. to turn I’ll back continuing feel until attractive we the capital over that, which We’re current And Sean.

Sean Gray

Jamie. Thanks,

our to and As adjust this and the operations you’ve we are borrowers impacts pandemic doing necessary related seen, improve to managing business work performance in for our model environment.

our keeping on customer We’re our while answering changes values. in community bank focus behaviors,

As This benefits visible which I platform rate. investment of been absorbed is experience our to revenue digital a current number more This customer our recently best component expense earlier, the opening in account technology and months. a has for we run operating mentioned the development in of a we to generation to that provides launched efficiency. have class into technology,

Our more the transformation the much digital needs resulting accelerated of enhanced a capabilities are result and valuable customer from as pandemic. that

our upfront, This strategic office includes operational reshaping model. indicated surplus other infrastructure network, making in business I and well As footprint. rationalize our we’re real identifying to releasing estate adjustments analysis a corporate along and branch our to

looking as process in well current opportunities procurement changes environment. also save are We in cost the from as formalized home, work arising from to

annualized expense XXXX. goal half by to million core $XX reduce Our to the of second is $XX by million

will announcements more have in be our our foundation. critical to the that coming technology in previously intend the to leverage program. these invested Two expect strategies around we MyBankers months, we enablers business our about and organic growth We and in core model streamline markets

to distinctive the with have line President And position, the Kiely, developing experience they customers we initiatives, and Berkshire know, head our successfully bankers as years they our County promotion foundation Boston where to recently our of been community Lori personal lead our a of XXst-century when you mobile Wealth region. we for lead two deploying it. the leaders And announced these we that need Regional developing integral a bring remain service to In to will Leader, number Hersey, team. our and are bank. As will of Kate region our of customer

with Our we that serve. the our to markets remain Regional critical engagement Presidents

these team. of our As women half a promotions, constitute President Regional now result of

area Officer, investment year. driving our President CIO recently honored Information and promoted technology Vice who’s Executive was also White, the Boston our the Chief We and Jason as of

our recognized direction diversity North Human Executive the American culture President further I’ll Our purpose-driven to lines by I’ll investors Chief provider and questions. Courtwright, strong markets. as for our With and and the was and Vice our our program, and which was the culture by you. up to operate Culture operator Officer. Jackie close ask under and enhance team, Award thanking Inspiring other business who Workplaces promoted to stakeholders, value us is the that, rely for who open to Thank this on our franchise preferred a Resources

Operator

go now Mark Instructions] question-and-answer first Piper will Please, Our comes question the with Sandler. [Operator Mark, Fitzgibbon session. We ahead. begin from

Mark Fitzgibbon

good and morning you, guys. Thank

wanted potentially million? you to cost just reduce annualized a things of that had to your savings million clarify would expenses said initiative hear had Sean, correctly by First, I said, you did that couple $XX $XX

Sean Gray

That is correct.

Mark Fitzgibbon

sort start in half year. appear the of next And back to that of will

Sean Gray

Actually, now in hoping that yes, we to the to alluded start the as to see that middle – announcements next we’re has work started we’ll year. additional of soon. coming and But, for

Mark Fitzgibbon

ahead. Okay. And sorry, Jamie, then, – you go I’m

Jamie Moses

Mark. I that, just want add to to

appear by half. as sort to back but beginning to that realize those in said – see start of of Just Sean expect fully year, next that the we the you’ll things

Mark Fitzgibbon

the And regulators ratios to said, something buy then stock you Have contemplating? you the back? Or just something think here, capital to to with for permission clarify attractive able be applied you’re that is it Okay. building. is you Jamie, are

Jamie Moses

on working too don’t but start get are Yes, I our into mean, back the the the say to to with want I details ability regulators, far we shares. buy – of to that would don’t I interactions we

you that well we we As capital we’ve over We have think been the very months, six are I’ve capitalized in regard. through ratios. very said strong this. talking as said, last we that think And that

buyback So certainly I there’s that from a think that opportunity there. perspective,

Mark Fitzgibbon

the Okay. sheet in had it mean, of of the And you be fourth possibility much runoff. referenced to shrinkage shrinking you quarter. balance balance just a sort I then planning natural the Or in sheet XQ? the likely larger are of is

Jamie Moses

– regard this And No. little side of the the more think we demand. a remarks, a from natural looking that of point, securities softness, to runoff in portfolio try I to our At of excess think bit some using I in about increase of on with the we’re ourselves customer liquidity terms our offset some help to runoff. to of also in talked

Mark Fitzgibbon

is it as have than quickly away of more that. million $XXX you it you half deployed sort liquidity So over that of like into little of or a securities go looks that

Jamie Moses

No.

the thinking to we’re right. think quickness, at I big terms billion. you’re looking do about portfolio quickly. $X I in a not don’t increasing mean, by number of But I that, that’s –

Mark Fitzgibbon

in what And last your Thank with might wonder could you I then effective look if margin things, outlook in you. two XXXX. XQ for like the us the share and rate tax

Jamie Moses

Sure. Yes.

say would that. I to – obviously where we dependent start expect elections the I and been tax the of would things past. the it I’ll So in state, in we’ve steady sort that guess, guess, like on that’s rate, be with XX% I range, highly

the components into Although, terms we’re we’re margin, as that forward I’ve investment the to of the year. again, said, excess on And guidance looking deploy through all portfolio. of in some of still into that of liquidity next working

which to that could expect by little So side deposit sort increased decrease funding we to declines another we as offsetting by XX have of investments going probably our portfolio, with be that. margin XX things, – are know, on be points. in offset investment a basis you of associated a – But can the less costs that little

a in QX, we’re I that course, think So PPP if and flat there’s of scenario positive there. accelerate, margin in opportunity tight probably

Mark Fitzgibbon

you. Thank

Operator

question comes Collyn, ahead. Collyn Gilbert next Please, Our go with KBW. from

Collyn Gilbert

comment had to sort just the think a of – and NII start NIM fourth going Or in throughout position NII thinking to you mean, sense you trend Jamie, you’re are Thanks. runoff obviously dynamics indicated sort follow-up next But there. is of the to some Do on to give quarter. year. as bottoms, do. a on of guys what some you us your but I you excluding PPP, and the trending further about NII how in

Jamie Moses

Right.

a story talk we start little about to expect early this shrinkage into to story. asset too versus around generation So I say, it’s to turning again, than XXXX, other balanced think, an

to we yields portfolio can not QX those as things on hoping similar But on loan payoffs to be investment that’s things and of sort lot that or of that now. the a keep levels again, general are get think, I’m fourth market So they NII side in dependent happen that quarter in in conditions. the may going I happen just the may of

fourth going So go increase see here a we NII feeling that. asset to the some in expect on would decline to you’re that and pretty not forward, then into good quarter

Collyn Gilbert

Okay.

this our balance arms loan some sheet. volumes what on off? dynamics have the get to with to what versus you the was happen just the origination And of Do paid Okay. the around runoff quarter were

Jamie Moses

me of don’t that. have you front get on in but now, can I right to right back that I

Collyn Gilbert

Okay.

loan there mean, year. in that, Okay. on you’re lenders, And your indicated sense and is of that of I Sean, then, your that any kind within kind business next and maybe I just there’s throughout of out following for guess, footprint. terms a there’s growth target momentum it a lending putting the of if kind for And

of Just the terms franchise trying year. of is sense generating, get think of to demand next kind new loan capable of a what you in

Sean Gray

Sure. a that and strategic products of sheet Obviously, we’ve kind model. balance didn’t we’ve bank identified from done community much so And rationalization. meet our overarching offerings

you’ve so that jettison start us be seen indirect whether to And us you’ve seen lending. aircraft,

on now, feel differentiation do focus we’ve we we value well compete So a real and do a perspective. got good we core where from what

at with a would that these C&I, ABL. loan And businesses as business better banking our So verticals, goals least and I know to And George niche our then single business we as some we’re And focus? it commercial well digit aligned is in for well low today, on four XX we’ve ABL. banking, the the setting our about, business. CRE, group, which current environment. capital think this being growth main talked as lot phone we’ve business perform also economic There’s that are

if is right now, measure the demand a we is activity sales speaking through subdued macroeconomic demand can pent up stabilize. So but as force it conditions towards

directional a that So from helps thinking totality, about we’re in it that’s perspective. hope I how

Collyn Gilbert

it does. No, It does.

embedded And deferrals. so is, thinking during things, credit, you the here. of loss And maybe were to also, loan where you give still us the And risks from any if perspective. lies the the some kind us Two just shifting for the of how Okay. through workouts that. sort trends of from then color one obviously, you’re resolution could Thank two, what to on as quarter. about classified guide you can deferral a then,

Sean Gray

making this seeing are remain bucket, bucket progress comes we of Sure. even trend. paying percentages that to within normal payments, a where Obviously, there’s deferrals interest within then that time. back And moving deferral on they downward and are at we’re that deferral

or more to over detail to question. provide think probably a Georgia, be to bit I you’ll I’ll the this little able So George kick

Georgia Melas

hi, it’s Collyn, Georgia. Yes.

Collyn Gilbert

Georgia. Hey,

Georgia Melas

Hi.

trending assets we we the putting loans, the Q. of in about And about criticize the COVID up. to information fours as Speaking mostly due a Currently, percentage in are are will total obviously the more out obviously, be that businesses. impacted

we workout in that the I management hospitality have loan overseeing deferral. As perspective, of far from a it thinking all as how mean, a hospitality formed about is we’re currently group

are some deferrals, information, our established. asking looking we updated that interest-only. majority we obviously, and customers So term to customers of for regular will are those getting a for speaking we’re basis, we interest financial turn are in seeing we to will longer are said, a on interest but an be What cases, receiving in be seeing like and/or payments sponsors return, are reserve I our large

So that’s with dealing the way we’re portfolio. the hospitality

across customers return the the the third based most or segments, will we’re be as to far As in phase, starting seeing entering are deferrals seeing we only. portfolio goal, again, are to segment. and entertainment the we location into are Firestone But fitness as interest concentrations

are we So by encouraged that.

Collyn Gilbert

Okay.

then, closing for loop the you’re Jamie, how in out finally the I thinking about reserve just on And guess, here. you of Okay. that from terms

the the stable going of and that provisioning or that, in what is kind it’s the in that delinquencies any just So the the about quarter than charge-offs more be other factors, kind outlook. thoughts to third drives really the bucket of deferral within expectation reserve movements your qualitative you’re of seeing and around

Jamie Moses

Collyn, Yes, think right. that’s I

progressing more also through we’re where there. information that, seeing right, have we’re I of well. the help, and in I forecast queue. and And that think generally affect any which a what around that you which But Collyn obviously – that output think as in the is which to is those we things on we’re that that’s changes classified it about speaking looking more really now, credit at how stabilizing asked things, it drive what continue had are could see and changes process, macroeconomic we’ll

Collyn Gilbert

okay. there. it Thanks, good. leave I’ll guys. Very Okay,

Jamie Moses

Collyn. Thanks, Yes.

Operator

ahead. go Our next Point. question with comes Compass Hunsicker from Laurie, Please Laurie

Laurie Hunsicker

good thanks, morning. Hi, Yes.

Sean Gray

Laurie. Hey

Jamie Moses

Laurie. Hey

Laurie Hunsicker

through this is if XX. Firestone, $XX $XXX you is just deferrals Georgia, What September about October? can back the roll what’s down? we that much as book, looking end interest-only? you million you million, that us help think help just expect think the to look just us do those could also then deferrals to on about like at go How And in of we can –

Georgia Melas

Well, and the get you September, that payment majority of $XX deferral. would a full this million actual is the the that currently could would, of I end but is of I guess as I numbers, guess

through number far – think in-process an the and through October as quarter, the going the As I of again is this XX%. fourth the month

based had expect that we’ve on is month that in our So what this doing the what’s customers to pipeline. conversations we capturing be and with

be going think we stay But is around we right seeing is. the going percentage probably we how where will I are to it interest-only think from this much quarter. to fourth to hearing is as go to really point, a So our too able to would they the but talking it to early. that and customers I into more quarter. More At this what guess that customers are to are interest-only, back as even want return wouldn’t take it’s of I

Laurie Hunsicker

the okay. away then took million had what or likely you change. Do at it, on I portfolio, ahead. know go know I remainder clients And Got about PPP of so other loans the loans of Another $XX in portfolio the PPP – guess banks?

Georgia Melas

for ask think and goes we And our actually I XX% second what No, XXX of we surveyed Firestone we over from this customers I back were to understand you and found, the because interesting other with apply that our that of some quarter. did to customers roughly come and through spoke PPP XX% loans to able extrapolation institutions. to customers of we those up

Laurie Hunsicker

majority it, okay. that of then the New out is England? Is And percentage helpful. footprint? That’s what out of percentage What that? of Got is

Georgia Melas

Firestone? In

Laurie Hunsicker

Yes.

Georgia Melas

it out of absolutely. yes, is Firestone, The of our… For majority

Laurie Hunsicker

then in million helpful. question you’ve October The the $XXX the on you so, we we with going That’s see as see continue million, down? got come hotel okay. deferrals through majority, other okay, those where could words now $XXX do that same okay, to And book, roll on

Georgia Melas

reserves. loans. that, yes, know on with and because those that to come then daily majority of and of also expect But it add interest-only, start I’ll to team number would you conversations I flip George, posting something? having did expect I said, customers to down I’ll return I his is and these over George, George them would with like the I many to

George Bacigalupo

just Yes, a are is of say comments hotel. Yes, towards of sure. type I couple would destination the some customers that of

Where of off market seasonal core Island as our would in a example. now season another is Berkshire the highly Newport, and So Rhode those winter. folks be the the the as pretty is well much

folks very to deferrals is deferrals eventually the that as we will And are that feel having we’ve the are probably payments those – confident to return news payment they of make us. fourth moved $XXX million and So deferrals. XX% they were in full earlier. to longer-term approximately to cases P&I quarter need good many in will full able The that

there’s some operators. So some some we with think progress, we’re liquidity seeing resiliency and those

Laurie Hunsicker

wondered That’s you I expansion the then if by great. to could indicated XX back Okay, basis we go helpful. know quarter basis of potentially to And just margin, end had XX year. last Jamie, points the points of

Jamie Moses

Yes.

Laurie Hunsicker

can sounds in it us cost maybe helpful you but around it’s a sort think little decreasing that are about to things us margin? have to planned like you less, a going you think more, basis, that the help help And your about little restructuring of that be what obviously can maybe deposit comments

Jamie Moses

Right.

or that. higher of wholesale So off on of margin funding sorry, sort the costs biggest is benefits whole the paying costs

to maybe expect of side points basis – basis we points XX deposit XX So on XX things. basis the points

the than it’s around stuck On this the one has bit that anticipated. have a great liquidity we of and that terms had hand maybe deposits longer in industry little

and have things deposits these deposits is there we And those invest fewer to so into.

a at moment bonds be they to as tend as yield portfolio a to typical loan so not high would. that the have And do that in your be going it’s

securities the which increase that. the a into some So but the sort margin NII will decrease securities of with one hand, bit, would on portfolio expanding along deposits it’s reinvesting portfolio these the of

Laurie Hunsicker

back just you And great. sure heard I I also then to – wanted make wanting Okay, to go to right. okay,

that I wind costs to Your quarter. say right. one-time costs, merger the should sure restructuring wanted heard down fourth I restructuring make I in just costs or

Is it will correct? restructuring that this up tending So tightening of forward, that you’re do, you’re year. the back whatever in to looking half be

Jamie Moses

That’s right. right. That’s

Laurie Hunsicker

expect in Okay, early? okay. or restructuring And what fourth then is quarter, do you charges the the too that

Jamie Moses

really It’s I too wouldn’t in a right. number large fourth the expect quarter, early.

just CEO so almost were separation happened related to those to at of that that looking you’re F-X entirely during And quarter. if release, restructuring the charges the the

Laurie Hunsicker

That’s much. you it very there. Thank I’ll helpful. great. leave okay, Okay,

Jamie Moses

Thanks, Yes. Laurie.

Operator

question comes Gilbert next from Our Collyn go Please KBW. with ahead. Collyn,

Collyn Gilbert

guys, make Hi just follow-up. some these want sorry, got just numbers quick to a sure. I’ve I correct. of

So comment I on to reduce be the of expenses achieved quarter, to $XX you the million it annual by first in know million an bit. end Sean, that majority to and operating $XX to your just about had looking up of a want But basis And year. it in the XXXX. some then achieved the indicated tighten by of

So quarter that Is And XXXX to off nail base so, third we that clear. what a is number? assuming? it, what should just a be trying OpEx little if of bit down

Sean Gray

you okay. would yes, – Jamie,

Jamie Moses

we what Yes, So our – year-over-year our of are off really think we basis. a what core based take it’s that. Collyn, say on I’ll expenses

So that. think core the the million $XX $XX off of as year about it throughout we’ve given to million expenses that

average, that’s quarter about should third be number right, core And how it. so thinking right on that’s you about the about

Collyn Gilbert

Okay.

the you got core I’m I’m $XX.X and in $XX the up I’ve that’s if but in I the so are, than million mean we’re of maybe XQ but thinking, XQ. what terms like put million, because if of on – core quite that the same a bit million expenses in $XX.X if expenses lower So, page

$XX of future million an like $XX it as million million three and the taking rate? million to to So off taking that? $XX those average then $XX.X of million the it off quarters run is Or is taking $XX

Jamie Moses

Yes, yes.

Sorry.

more be should I So clear.

the the $XX that. of $XX then average an three million take of to quarters take should You million and

Collyn Gilbert

Okay. essentially And rate the the than that average XQ million XXXX, less end should million three. of run to those by – by $XX be $XX

Jamie Moses

it. got You

Collyn Gilbert

okay. Okay,

Just confirm, wanted thanks. to

Jamie Moses

Thanks, yes. Yes, Collyn.

Operator

question-and-answer over our to please. closing to concludes like Gray Mr. would conference turn Sean session. This remarks, back I for Sean. any the

Sean Gray

please formal the join Thank our announcements thank And in fourth our I us all. this Well, call. you quarter and concludes questions. you. appreciate earnings

Operator

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

disconnect. You may now

Berkshire Hills Bancorp (BHLB) 27 Oct 202020 Q3 Earnings call transcript