Pittsfield-based Berkshire Hills Bancorp Inc. – the parent of Berkshire Bank – has been cleared to list its common stock on the New York Stock Exchange (NYSE).
The company, whose stock is currently traded on NASDAQ, will retain the ticker symbol "BHLB." The company said it expects to begin trading on the NYSE on or about Nov. 19.
Berkshire Hills recently completed the acquisition of Beacon Federal Bancorp, an almost $1 billion bank with seven offices headquartered in East Syracuse, N.Y. Beacon Federal has been merged into Berkshire Bank.
The company also announced third-quarter earnings and declared a dividend.
Net income for the three-month period ended Sept. 30 rose to $10 million, from $4.4 million in the same period last year. Net income for the nine months ended Sept. 30 jumped to $24 million, from $9 million in the same period a year ago.
Total assets climbed to $4.6 billion in the most recent quarter, from $3.87 billion a year ago.
Berkshire CEO Michael P. Daly said in a statement that the third-quarter results mark the 10th consecutive quarter of increased operating earnings.
"Across the markets, our teams are generating solid business – resulting in market share against hat demonstrate the value of our band promise, service executive and product capabilities."
The company announced a one cent increase in the quarterly dividend to 18 cents a share.
