BOSTON, Oct. 13,
2022 /PRNewswire/ -- Berkshire Hills Bancorp, Inc.
(the "Company", NYSE: BHLB) and Berkshire Bank (the "Bank")
announced today that Subhadeep Basu,
Chief Financial Officer of the Company and the Bank, has resigned
effective October 7, 2022, for
personal reasons and to subsequently pursue other career
interests. Mr. Basu has agreed to be available as an advisor
to the Company to assist with transition matters through
December 31, 2022.
The Company and Berkshire Bank have appointed Senior Vice
President and Chief Accounting Officer Brett Brbovic, age 42, as Interim Chief
Financial Officer, effective October 7,
2022, and is in the process of searching for a new Chief
Financial Officer through an executive search process. Mr. Brbovic
first joined the Company and Berkshire Bank from KPMG LLP in 2012
as Vice President and Controller and has served as Senior Vice
President and Chief Accounting Officer since 2015.
Berkshire CEO Nitin Mhatre
stated, "We're grateful for the contributions that Subhadeep has
made in his service as CFO, and we wish him well in his future
pursuits. Our Company has made strong financial progress
during his tenure. Our leadership is committed to maintaining
the momentum of our BEST strategic transformation and our entire
Berkshire team is focused on our
goal to be a high-performing, leading socially responsible
community bank. Brett Brbovic
is a Berkshire veteran with a
solid history and I'm confident in his leadership of our financial
team through this transition. We have retained the firm Spencer
Stuart to conduct a national search process for the CFO
position."
Mr. Basu added, "I am proud to have been part of Berkshire and working with a wonderful group
of people. I am grateful for the opportunity to have been able to
work together with Nitin, the Board and the team to help
Berkshire progress to where it is
now. My best wishes to the Berkshire team for continued success."
Mr. Mhatre also noted, "There have been no changes to the 2022
financial guidance that we provided in our last earnings
call. We look forward to releasing our third quarter results
as scheduled on October 20,
2022."
ABOUT BERKSHIRE HILLS
BANCORP
Berkshire Hills Bancorp is the parent of Berkshire Bank.
The Bank's goal is to be a high-performing, leading socially
responsible community bank in New England, Upstate New York, and
beyond. Berkshire Bank provides business and consumer banking,
mortgage, wealth management, and investment services. Headquartered
in Boston, Berkshire has approximately $11.6 billion in assets and operates 100
financial centers in New England and New
York, and is a member of the Bloomberg Gender-Equality
Index. To learn more, call 800-773-5601 or follow us on Facebook,
Twitter, Instagram, and LinkedIn.
FORWARD-LOOKING STATEMENTS
This document contains "forward-looking statements" within the
meaning of section 27A of the Securities Act of 1933, as amended,
and section 21E of the Securities Exchange Act of 1934, as amended.
You can identify these statements from the use of the words "may,"
"will," "should," "could," "would," "plan," "potential,"
"estimate," "project," "believe," "intend," "anticipate," "expect,"
"target" and similar expressions. There are many 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. You should not place
undue reliance on forward-looking statements, which reflect our
expectations only as of the date of this document. Berkshire does not undertake any obligation to
update forward-looking statements.
CONTACTS
Investor Relations Contacts
Kevin Conn, SVP, Investor
Relations & Corporate Development
Email: KAConn@berkshirebank.com
Tel: (617) 641-9206
David Gonci, Capital Markets
Director
Email: dgonci@berkshirebank.com
Tel: (413) 281-1973
Media Contact:
Gary Levante, SVP, Corporate
Responsibility & Communications
Email: glevante@berkshirebank.com
Tel: (413) 447-1737
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SOURCE Berkshire Hills Bancorp, Inc.