BOSTON, May 14, 2024
/PRNewswire/ -- Berkshire Hills Bancorp, Inc. (the "Company", NYSE:
BHLB) and Berkshire Bank (the "Bank") announced today that R.
David Rosato, Chief Financial
Officer, has decided to step down to pursue other interests. Mr.
Rosato will remain with the company through June 14, 2024, as the Company transitions his
responsibilities to Brett
Brbovic.
The Company and the Bank have appointed Chief Accounting Officer
Brett Brbovic as Executive Vice
President and Chief Financial Officer, effective June 14, 2024. Mr. Brbovic joined the Company
from KPMG LLP in 2012 and has served as Chief Accounting Officer
since 2015. He previously served as Interim Chief Financial
Officer, from October 7, 2022, to
February 6, 2023.
Berkshire CEO Nitin Mhatre
stated, "We're grateful for the contributions that David has made
in his service as CFO, and we wish him well in his future
pursuits. David has been instrumental in developing the bench
strength for our Finance group that has enabled us to transition to
a new leadership team, including Brett, who will be assuming the
CFO role. We have made strong financial and strategic progress
during David's tenure, including strengthening the balance sheet,
bolstering expense management discipline, and supporting our recent
announcement of agreements to divest 10 financial centers and two
well executed securities sales. Brett is a 12-year Berkshire Bank
veteran with a strong track record and deep institutional
knowledge. I'm confident in his ability to lead our Finance team
and build on the changes that David has implemented. Berkshire's leadership is committed to
maintaining recent momentum and our entire team is focused on the
goal to be a high-performing, relationship-driven,
community-focused bank."
Mr. Rosato added, "I am proud to have been part of Berkshire and to have had the unique
opportunity to leverage my experience to bolster Berkshire Bank's
Finance group and transition it over to the talented leaders who
will help the Bank further improve its profitability in coming
years. I enjoyed working with Nitin and the team to help
Berkshire create a solid financial
foundation for growth. My best wishes to Brett and the Berkshire team for continued success."
Incoming CFO Brett Brbovic
stated, "I'm excited to step into this role and continue to work
alongside the talented employees in our Finance department to
create long-term shareholder value. I'm committed to continuing to
build on the strong foundation we've created in Finance under
David's leadership and accelerate our forward momentum to help
deliver stronger returns for our shareholders."
ABOUT BERKSHIRE HILLS
BANCORP
Berkshire Hills Bancorp, Inc. (NYSE: BHLB) is the parent company
of Berkshire Bank, a relationship-driven, community-focused bank
with $12.1 billion in assets and 96
financial centers in New England and New
York. Berkshire is
headquartered in Boston and offers
commercial, retail, private banking, and wealth solutions.
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.
Investor Contact
Kevin
Conn, Investor Relations
617.641.9206
KAConn@berkshirebank.com
Media Contact:
Gary
Levante, Corporate Communications
413.447.1737
GLevante@berkshirebank.com
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SOURCE Berkshire Hills Bancorp, Inc.