form8k_072213.htm

0000943374-13-000426.txt : 20130722 0000943374-13-000426.hdr.sgml : 20130722 20130722114321 ACCESSION NUMBER: 0000943374-13-000426 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20130722 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130722 DATE AS OF CHANGE: 20130722 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BERKSHIRE HILLS BANCORP INC CENTRAL INDEX KEY: 0001108134 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036] IRS NUMBER: 043510455 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15781 FILM NUMBER: 13978659 BUSINESS ADDRESS: STREET 1: 24 NORTH ST. CITY: PITTSFIELD STATE: MA ZIP: 01201 BUSINESS PHONE: 4134435601 MAIL ADDRESS: STREET 1: 24 NORTH ST CITY: PITTSFIELD STATE: MA ZIP: 01201 8-K 1 form8k_072213.htm FORM 8-K form8k_072213.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 22, 2013

BERKSHIRE HILLS BANCORP, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware		001-15781		04-3510455
(State or Other Jurisdiction of Incorporation)		(Commission File No.)		(I.R.S. Employer Identification No.)

24 North Street, Pittsfield, Massachusetts		01201
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (413) 443-5601

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01.

Other Events.

On July 22, 2013, Berkshire Hills Bancorp, Inc. (the "Company") announced updated earnings guidance for the second quarter of 2013.

The full text of the news release is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

(a)		Financial statements of businesses acquired. Not Applicable.
(b)		Pro forma financial information. Not Applicable.
(c)		Shell company transactions: Not Applicable.
(d)		Exhibits.

		Exhibit No.		Description

		99.1		News Release dated July 22, 2013.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

		Berkshire Hills Bancorp, Inc.
DATE: July 22, 2013	By:	/s/ Michael P. Daly
		Michael P. Daly
		Chairman of the Board, President and Chief Executive Officer

EX-99.1 2 form8kexh_072213.htm FORM 8-K NEWS RELEASE form8kexh_072213.htm

Berkshire Hills Provides Updated Guidance for Second Quarter 2013

Pittsfield, MA – July 22, 2013 - Berkshire Hills Bancorp, Inc. (NYSE: BHLB) today announced that it expects to report core earnings of $0.48 per share for the second quarter of 2013, compared to $0.47 per share in the second quarter of 2012. GAAP earnings are expected to be $0.48 per share for the second quarter of 2013, compared to $0.37 per share in 2012.

Second quarter 2013 expected core results are lower than management’s prior expectations and primarily related to the spike in long term interest rates in the second half of the quarter. The company cited tightening mortgage origination volumes and margins, impacts on commercial loan and interest rate swap revenues and higher expenses due to the completion of integration and efficiency projects.

Berkshire’s CEO Michael Daly stated, “Our expected second quarter core results are an increase over the second quarter of 2012, but lower than our guidance. We are initiating course corrections to adjust to current conditions. We continue to achieve our targets for double digit annualized commercial business loan growth while we pursue the long term benefits of our strategic positioning. We will further address our plans during our upcoming scheduled conference call.”

Management’s guidance is subject to final accounting reviews. As previously announced, Berkshire will release full financial results for the second quarter on July 24, 2013 after the market closes followed by a conference call at 10 am EST on July 25, 2013. At that time, management expects to provide further detail on second quarter results and future plans.

BACKGROUND

Berkshire Hills Bancorp is the parent of Berkshire Bank – America's Most Exciting Bank®. The Company has approximately $5.2 billion in assets and 74 full service branch offices in Massachusetts, New York, Connecticut, and Vermont providing personal and business banking, insurance, and wealth management services.

FORWARD LOOKING STATEMENTS

This document may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. There are several factors that could cause actual results to differ significantly from expectations described in the forward-looking statements. For a discussion of such factors, please see Berkshire’s most recent reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission and available on the SEC's website at www.sec.gov. Berkshire does not undertake any obligation to update forward-looking statements.

INVESTOR CONTACT

Allison O'Rourke; VP, Investor Relations Officer; 413-236-3149

MEDIA CONTACT

Ray Smith; AVP, Marketing; 413-236-3756