Attached files
| file | filename |
|---|---|
| EX-99.3 - EXHIBIT 99.3 - BERKSHIRE HILLS BANCORP INC | tv482159_ex99-3.htm |
| EX-23.1 - EXHIBIT 23.1 - BERKSHIRE HILLS BANCORP INC | tv482159_ex23-1.htm |
| 8-K/A - 8-K/A - BERKSHIRE HILLS BANCORP INC | tv482159_8ka.htm |
Exhibit 99.2
COMMERCE BANCSHARES CORP. AND SUBSIDIARY
Consolidated Balance Sheet (unaudited)
June 30, 2017
(Dollars in thousands, except shares and per share amounts)
| June 30, 2017 | ||||
| ASSETS | ||||
| Cash and due from banks | $ | 18,324 | ||
| Interest bearing deposits in other banks | 315,755 | |||
| Cash and cash equivalents | 334,079 | |||
| Investment securities, available for sale, at fair value | 117,376 | |||
| Federal Home Loan Bank of Boston stock, at cost | 1,001 | |||
| Loans, net of allowance for loan losses of $16,242 | 1,412,753 | |||
| Premises and equipment, net | 9,200 | |||
| Other real estate owned and repossessed collateral | 3,033 | |||
| Accrued interest receivable | 3,803 | |||
| Deferred tax asset, net | 11,073 | |||
| Bank-owned life insurance | 28,572 | |||
| Goodwill | 11,120 | |||
| Other intangible assets | 170 | |||
| Other assets | 6,388 | |||
| $ | 1,938,568 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||
| Deposits | $ | 1,718,028 | ||
| Securities sold under agreements to repurchase | 18,557 | |||
| Advances from the Federal Home Loan Bank of Boston | 304 | |||
| Subordinated debt | 21,075 | |||
| Accrued expenses and other liabilities | 15,292 | |||
| Total liabilities | 1,773,256 | |||
| Commitments and contingencies | ||||
| Stockholders’ equity: | ||||
| Preferred stock, $.01 par value, 500,000 shares authorized; none issued | ||||
| Common stock, $.0025 par value, 10,000,000 shares authorized; 6,328,300 shares issued and outstanding at June 30, 2017 | 16 | |||
| Additional paid-in capital | 7,430 | |||
| Retained earnings | 157,180 | |||
| Accumulated other comprehensive income | 686 | |||
| Total stockholders’ equity | 165,312 | |||
| $ | 1,938,568 | |||
COMMERCE BANCSHARES CORP. AND SUBSIDIARY
Consolidated Statements of Income (unaudited)
Six months ended June 30, 2017 and 2016
(Dollars in thousands, except shares and per share amounts)
| Six Months Ended June 30, | ||||||||
| 2017 | 2016 | |||||||
| Interest and dividend income: | ||||||||
| Loans, including fees | $ | 31,066 | $ | 29,897 | ||||
| Investment securities | 982 | 963 | ||||||
| Interest bearing deposits | 1,648 | 872 | ||||||
| Total interest and dividend income | 33,696 | 31,732 | ||||||
| Interest expense: | ||||||||
| Deposits | 4,160 | 3,980 | ||||||
| Borrowed funds | 781 | 825 | ||||||
| Total interest expense | 4,941 | 4,805 | ||||||
| Net interest income | 28,755 | 26,927 | ||||||
| Provision for loan losses | (513 | ) | 5,292 | |||||
| Net interest income after provision for loan losses | 29,268 | 21,635 | ||||||
| Noninterest income: | ||||||||
| Service charges on deposit accounts | 4,463 | 4,474 | ||||||
| Other income | 929 | 1,041 | ||||||
| Total noninterest income | 5,392 | 5,515 | ||||||
| Noninterest expenses: | ||||||||
| Salaries and employee benefits | 11,084 | 10,295 | ||||||
| Occupancy and equipment | 2,294 | 2,484 | ||||||
| Data processing | 1,740 | 1,614 | ||||||
| Marketing | 712 | 879 | ||||||
| Professional fees | 886 | 640 | ||||||
| FDIC insurance assessments | 581 | 603 | ||||||
| Net loss on sale of other real estate owned and repossessed collateral | 128 | 61 | ||||||
| Other general and administrative | 3,030 | 2,284 | ||||||
| Total noninterest expenses | 20,455 | 18,860 | ||||||
| Income before income taxes | 14,205 | 8,290 | ||||||
| Provision for income taxes | 6,002 | 3,316 | ||||||
| Net income | $ | 8,203 | $ | 4,974 | ||||
| Basic earnings per share | $ | 1.30 | $ | 0.79 | ||||
| Fully diluted earnings per share | $ | 1.30 | $ | 0.79 | ||||
| Weighted average shares of common stock outstanding | 6,328,300 | 6,328,300 | ||||||