Shareholders Recognize Berkshire's
Achievements; Approve All Proposals
BOSTON, May 17,
2024 /PRNewswire/ -- Berkshire Hills Bancorp, Inc.
(NYSE: BHLB), the parent company of Berkshire Bank, a
relationship-driven, community-focused bank with financial centers
in New England and New York,
announced today that all three proposals were approved at its
Annual Meeting of Shareholders on May 16,
2024, with a quorum of approximately 91% of outstanding
shares voted in person or by proxy at the meeting. All
measures were unanimously recommended by the Board. All
measures requesting shareholder approval received at least 96%
support.
Shareholders voted to approve the election of all eleven
director nominees to serve a one-year term:
- David M. Brunelle
(Chairperson)
- Mary Anne Callahan
- Nina A. Charnley
- Dr. Mihir A. Desai
- William H. Hughes III
- Jeffrey W. Kip
- Dr. Sylvia Maxfield
- Nitin J. Mhatre (Berkshire
CEO)
- Laurie Norton Moffatt
- Karyn Polito
- Eric S. Rosengren
Shareholders further provided advisory votes as follows:
- Executive compensation practices were approved; and
- The appointment of Crowe LLP as the Company's independent
registered public accounting firm for fiscal year 2024 was
ratified.
The Company's proxy materials highlighted Berkshire's solid year of performance in 2023,
building on core elements of its strategy to strengthen operations,
deliver growth, and improve its long-term outlook. During the
meeting CEO Nitin Mhatre thanked
board members for their service and recognized retiring
directors Baye Adofo-Wilson and Michael Zaitzeff. He also recognized the hard
work of Berkshire's employees and
their dedication to serving Berkshire's customers and
communities.
"I want to thank our shareholders for their vote of confidence
in Berkshire and recognition of
our continued progress. Last year we outperformed the median of our
peers on key operating metrics identified in our proxy. We
produced a 10% operating return on tangible common equity and
increased annual dividends per share year-over-year. We continue to
build momentum to improve long-term shareholder returns and achieve
our vision to become a high-performing, relationship-driven,
community-focused bank," concluded Mhatre.
ABOUT BERKSHIRE HILLS
BANCORP
Berkshire Hills Bancorp, Inc. (NYSE: BHLB) is the
parent company of Berkshire Bank, a relationship-driven,
community-focused bank that delivers industry-leading financial
expertise to clients in New England and New York. With $12.1
billion in assets and 96 financial centers, Berkshire is headquartered in Boston and provides a full suite of tailored
banking solutions through its Commercial Banking, Retail Banking,
Consumer Lending, Private Banking and Wealth Management divisions.
For more than 175 years, the Bank has delivered strength, stability
and trusted advice to empower the financial potential of its
clients and communities. Newsweek named Berkshire one of the Most Trustworthy
Companies in America and one of America's Best Regional Banks. To
learn more about Berkshire Hills Bancorp visit
ir.berkshirebank.com.
Investor Contact
Kevin
Conn, Investor Relations
617.641.9206
KAConn@berkshirebank.com
Media Contact:
Gary
Levante, Corporate Communications
413.447.1737
communications@berkshirebank.com
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SOURCE Berkshire Hills Bancorp, Inc.