0001108134-24-000003.txt : 20240228 0001108134-24-000003.hdr.sgml : 20240228 20240228142127 ACCESSION NUMBER: 0001108134-24-000003 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 177 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240228 DATE AS OF CHANGE: 20240228 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BERKSHIRE HILLS BANCORP INC CENTRAL INDEX KEY: 0001108134 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036] ORGANIZATION NAME: 02 Finance IRS NUMBER: 043510455 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15781 FILM NUMBER: 24693793 BUSINESS ADDRESS: STREET 1: 60 STATE STREET STREET 2: 38TH FLOOR CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 617-641-9206 MAIL ADDRESS: STREET 1: 60 STATE STREET STREET 2: 38TH FLOOR CITY: BOSTON STATE: MA ZIP: 02109 10-K 1 bhlb-20231231.htm 10-K bhlb-20231231
0001108134FALSE2023FYhttp://fasb.org/us-gaap/2023#AccountingStandardsUpdate201613Memberhttp://www.berkshirebank.com/20231231#GainLossOnDispositionOfBusinessAndAssets120P4Yhttp://fasb.org/us-gaap/2023#NoninterestIncomehttp://fasb.org/us-gaap/2023#NoninterestIncomeP62YP2YP3Yhttp://fasb.org/us-gaap/2023#OtherAssetshttp://fasb.org/us-gaap/2023#OtherAssetshttp://fasb.org/us-gaap/2023#PropertyPlantAndEquipmentNethttp://fasb.org/us-gaap/2023#PropertyPlantAndEquipmentNethttp://fasb.org/us-gaap/2023#OtherLiabilitieshttp://fasb.org/us-gaap/2023#OtherLiabilitieshttp://fasb.org/us-gaap/2023#OtherLiabilitieshttp://fasb.org/us-gaap/2023#OtherLiabilities00011081342023-01-012023-12-3100011081342023-06-30iso4217:USD00011081342024-02-23xbrli:shares00011081342023-12-3100011081342022-12-310001108134us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember2023-12-310001108134us-gaap:DisposalGroupHeldforsaleNotDiscontinuedOperationsMember2022-12-31iso4217:USDxbrli:shares00011081342022-01-012022-12-3100011081342021-01-012021-12-310001108134us-gaap:DepositAccountMember2023-01-012023-12-310001108134us-gaap:DepositAccountMember2022-01-012022-12-310001108134us-gaap:DepositAccountMember2021-01-012021-12-310001108134us-gaap:BankServicingMember2023-01-012023-12-310001108134us-gaap:BankServicingMember2022-01-012022-12-310001108134us-gaap:BankServicingMember2021-01-012021-12-310001108134us-gaap:MortgageBankingMember2023-01-012023-12-310001108134us-gaap:MortgageBankingMember2022-01-012022-12-310001108134us-gaap:MortgageBankingMember2021-01-012021-12-310001108134bhlb:InsuranceRevenueMember2023-01-012023-12-310001108134bhlb:InsuranceRevenueMember2022-01-012022-12-310001108134bhlb:InsuranceRevenueMember2021-01-012021-12-310001108134bhlb:AssetManagementFeesMember2023-01-012023-12-310001108134bhlb:AssetManagementFeesMember2022-01-012022-12-310001108134bhlb:AssetManagementFeesMember2021-01-012021-12-310001108134us-gaap:BankingMember2023-01-012023-12-310001108134us-gaap:BankingMember2022-01-012022-12-310001108134us-gaap:BankingMember2021-01-012021-12-310001108134us-gaap:CommonStockMember2020-12-310001108134us-gaap:AdditionalPaidInCapitalMember2020-12-310001108134us-gaap:DeferredCompensationShareBasedPaymentsMember2020-12-310001108134us-gaap:RetainedEarningsMember2020-12-310001108134us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001108134us-gaap:TreasuryStockCommonMember2020-12-3100011081342020-12-310001108134us-gaap:RetainedEarningsMember2021-01-012021-12-310001108134us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-12-310001108134us-gaap:CommonStockMember2021-01-012021-12-310001108134us-gaap:TreasuryStockCommonMember2021-01-012021-12-310001108134us-gaap:AdditionalPaidInCapitalMember2021-01-012021-12-310001108134us-gaap:DeferredCompensationShareBasedPaymentsMember2021-01-012021-12-310001108134us-gaap:CommonStockMember2021-12-310001108134us-gaap:AdditionalPaidInCapitalMember2021-12-310001108134us-gaap:DeferredCompensationShareBasedPaymentsMember2021-12-310001108134us-gaap:RetainedEarningsMember2021-12-310001108134us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001108134us-gaap:TreasuryStockCommonMember2021-12-3100011081342021-12-310001108134us-gaap:RetainedEarningsMember2022-01-012022-12-310001108134us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001108134us-gaap:CommonStockMember2022-01-012022-12-310001108134us-gaap:TreasuryStockCommonMember2022-01-012022-12-310001108134us-gaap:AdditionalPaidInCapitalMember2022-01-012022-12-310001108134us-gaap:DeferredCompensationShareBasedPaymentsMember2022-01-012022-12-310001108134us-gaap:CommonStockMember2022-12-310001108134us-gaap:AdditionalPaidInCapitalMember2022-12-310001108134us-gaap:DeferredCompensationShareBasedPaymentsMember2022-12-310001108134us-gaap:RetainedEarningsMember2022-12-310001108134us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310001108134us-gaap:TreasuryStockCommonMember2022-12-310001108134us-gaap:RetainedEarningsMember2023-01-012023-12-310001108134us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001108134srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMember2022-12-310001108134srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2022-12-310001108134us-gaap:CommonStockMember2023-01-012023-12-310001108134us-gaap:TreasuryStockCommonMember2023-01-012023-12-310001108134us-gaap:AdditionalPaidInCapitalMember2023-01-012023-12-310001108134us-gaap:DeferredCompensationShareBasedPaymentsMember2023-01-012023-12-310001108134us-gaap:CommonStockMember2023-12-310001108134us-gaap:AdditionalPaidInCapitalMember2023-12-310001108134us-gaap:DeferredCompensationShareBasedPaymentsMember2023-12-310001108134us-gaap:RetainedEarningsMember2023-12-310001108134us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310001108134us-gaap:TreasuryStockCommonMember2023-12-310001108134srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMember2023-01-012023-12-310001108134srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMember2022-01-012022-12-310001108134srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMember2021-01-012021-12-310001108134bhlb:MidAtlanticBranchSaleMemberus-gaap:DiscontinuedOperationsHeldforsaleMember2023-01-012023-12-310001108134bhlb:MidAtlanticBranchSaleMemberus-gaap:DiscontinuedOperationsHeldforsaleMember2022-01-012022-12-310001108134bhlb:MidAtlanticBranchSaleMemberus-gaap:DiscontinuedOperationsHeldforsaleMember2021-01-012021-12-310001108134bhlb:BerkshireInsuranceGroupIncMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2021-08-240001108134bhlb:BerkshireInsuranceGroupIncMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2021-01-012021-12-31bhlb:segment0001108134us-gaap:ShortTermInvestmentsMember2022-12-310001108134us-gaap:ShortTermInvestmentsMember2023-12-310001108134us-gaap:USTreasurySecuritiesMember2023-12-310001108134us-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310001108134us-gaap:CollateralizedDebtObligationsMember2023-12-310001108134bhlb:ResidentialMortgageBackedSecuritiesGuaranteedByUSGovernmentMember2023-12-310001108134us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2023-12-310001108134us-gaap:CorporateBondSecuritiesMember2023-12-310001108134us-gaap:OtherDebtSecuritiesMember2023-12-310001108134bhlb:TaxAdvantagedEconomicDevelopmentBondsMember2023-12-310001108134us-gaap:USTreasurySecuritiesMember2022-12-310001108134us-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310001108134us-gaap:CollateralizedDebtObligationsMember2022-12-310001108134bhlb:ResidentialMortgageBackedSecuritiesGuaranteedByUSGovernmentMember2022-12-310001108134us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2022-12-310001108134us-gaap:CorporateBondSecuritiesMember2022-12-310001108134us-gaap:OtherDebtSecuritiesMember2022-12-310001108134bhlb:TaxAdvantagedEconomicDevelopmentBondsMember2022-12-310001108134bhlb:AOCIAccumulatedGainLossDebtSecuritiesAvailableForSaleParentBeforeReclassificationMember2023-12-310001108134bhlb:AOCIAccumulatedGainLossDebtSecuritiesAvailableForSaleParentBeforeReclassificationMember2022-12-310001108134bhlb:AOCIAccumulatedGainLossDebtSecuritiesAvailableForSaleParentReclassificationMember2022-12-310001108134us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-12-310001108134us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-12-310001108134us-gaap:USStatesAndPoliticalSubdivisionsMember2023-01-012023-12-310001108134bhlb:TaxAdvantagedEconomicDevelopmentBondsMember2023-01-012023-12-310001108134us-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310001108134bhlb:TaxAdvantagedEconomicDevelopmentBondsMember2021-12-310001108134us-gaap:USStatesAndPoliticalSubdivisionsMember2022-01-012022-12-310001108134bhlb:TaxAdvantagedEconomicDevelopmentBondsMember2022-01-012022-12-310001108134us-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310001108134bhlb:TaxAdvantagedEconomicDevelopmentBondsMember2020-12-310001108134us-gaap:USStatesAndPoliticalSubdivisionsMember2021-01-012021-12-310001108134bhlb:TaxAdvantagedEconomicDevelopmentBondsMember2021-01-012021-12-31bhlb:securityxbrli:pure0001108134us-gaap:CollateralizedDebtObligationsMember2023-01-012023-12-310001108134us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2023-01-012023-12-310001108134us-gaap:CorporateBondSecuritiesMember2023-01-012023-12-310001108134us-gaap:OtherDebtSecuritiesMember2023-01-012023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMember2022-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMember2023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMember2022-12-310001108134us-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2023-12-310001108134us-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2022-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2023-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2022-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2023-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2022-12-310001108134bhlb:SmallBusinessAdministrationSBACARESActPaycheckProtectionProgramMember2023-12-310001108134bhlb:SmallBusinessAdministrationSBACARESActPaycheckProtectionProgramMember2022-12-310001108134us-gaap:CreditConcentrationRiskMemberbhlb:NonResidentialMemberbhlb:TotalLoansMember2023-12-310001108134us-gaap:CreditConcentrationRiskMemberbhlb:NonResidentialMemberbhlb:TotalLoansMember2023-01-012023-12-310001108134us-gaap:CreditConcentrationRiskMemberbhlb:NonResidentialMemberbhlb:TotalLoansMember2022-12-310001108134us-gaap:CreditConcentrationRiskMemberbhlb:NonResidentialMemberbhlb:TotalLoansMember2022-01-012022-12-310001108134bhlb:CollateralizedResidentialMortgageLoansInProcessOfForeclosureMemberus-gaap:ResidentialPortfolioSegmentMember2023-12-310001108134bhlb:CollateralizedResidentialMortgageLoansInProcessOfForeclosureMemberus-gaap:ResidentialPortfolioSegmentMember2022-12-310001108134us-gaap:AssetPledgedAsCollateralMember2023-12-310001108134us-gaap:AssetPledgedAsCollateralMember2022-12-310001108134us-gaap:RelatedPartyMember2023-12-310001108134us-gaap:RelatedPartyMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-01-012023-12-310001108134us-gaap:CommercialPortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberbhlb:CommercialMultifamilyMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMember2023-01-012023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMember2023-01-012023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMember2023-01-012023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2022-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMember2023-01-012023-12-310001108134srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2022-12-310001108134us-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2023-01-012023-12-310001108134srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2022-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2023-01-012023-12-310001108134srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2022-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2023-01-012023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2021-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2022-01-012022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMember2021-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMember2022-01-012022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMember2021-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMember2022-01-012022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMember2021-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMember2022-01-012022-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMember2021-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMember2022-01-012022-12-310001108134us-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2021-12-310001108134us-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2022-01-012022-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2021-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2022-01-012022-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2021-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2022-01-012022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2020-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2021-01-012021-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMember2020-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMember2021-01-012021-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMember2020-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMember2021-01-012021-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMember2020-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMember2021-01-012021-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMember2020-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMember2021-01-012021-12-310001108134us-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2020-12-310001108134us-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2021-01-012021-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2020-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2021-01-012021-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2020-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2021-01-012021-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:PassMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:SpecialMentionMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberus-gaap:ConstructionLoansMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMemberus-gaap:PassMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMemberus-gaap:SpecialMentionMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberbhlb:CommercialMultifamilyMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberus-gaap:PassMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberus-gaap:SpecialMentionMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberbhlb:RealEstateOwnerOccupiedMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberus-gaap:PassMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberus-gaap:SpecialMentionMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberus-gaap:SubstandardMember2023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:PassMember2023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:SpecialMentionMember2023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:SubstandardMember2023-12-310001108134us-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMemberus-gaap:PassMember2023-12-310001108134us-gaap:SpecialMentionMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2023-12-310001108134us-gaap:SubstandardMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:PassMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:SpecialMentionMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberus-gaap:ConstructionLoansMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMemberus-gaap:PassMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMemberus-gaap:SpecialMentionMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberbhlb:CommercialMultifamilyMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberus-gaap:PassMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberus-gaap:SpecialMentionMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMemberbhlb:RealEstateOwnerOccupiedMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberus-gaap:PassMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberus-gaap:SpecialMentionMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberus-gaap:SubstandardMember2022-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:PassMember2022-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:SpecialMentionMember2022-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:SubstandardMember2022-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:DoubtfulMember2022-12-310001108134us-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMemberus-gaap:PassMember2022-12-310001108134us-gaap:SpecialMentionMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2022-12-310001108134us-gaap:SubstandardMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2022-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMemberus-gaap:HomeEquityLoanMember2023-12-310001108134us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2023-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMemberbhlb:ConsumerOtherMember2023-12-310001108134us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2023-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMemberus-gaap:HomeEquityLoanMember2022-12-310001108134us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2022-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMemberbhlb:ConsumerOtherMember2022-12-310001108134us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2022-12-310001108134bhlb:NonAccrualMemberus-gaap:PerformingFinancingReceivableMember2023-12-310001108134bhlb:NonAccrualMemberus-gaap:PerformingFinancingReceivableMember2022-12-310001108134us-gaap:SubstandardMemberus-gaap:PerformingFinancingReceivableMember2023-12-310001108134us-gaap:SubstandardMemberus-gaap:PerformingFinancingReceivableMember2022-12-310001108134bhlb:ClassifiedMemberus-gaap:PerformingFinancingReceivableMember2023-12-310001108134bhlb:ClassifiedMemberus-gaap:PerformingFinancingReceivableMember2022-12-310001108134us-gaap:SpecialMentionMemberus-gaap:PerformingFinancingReceivableMember2023-12-310001108134us-gaap:SpecialMentionMemberus-gaap:PerformingFinancingReceivableMember2022-12-310001108134us-gaap:CriticizedMemberus-gaap:PerformingFinancingReceivableMember2023-12-310001108134us-gaap:CriticizedMemberus-gaap:PerformingFinancingReceivableMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310001108134us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConstructionLoansMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberus-gaap:ConstructionLoansMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberbhlb:CommercialMultifamilyMember2023-12-310001108134us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbhlb:CommercialMultifamilyMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberbhlb:CommercialMultifamilyMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310001108134us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbhlb:RealEstateOwnerOccupiedMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberbhlb:RealEstateOwnerOccupiedMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310001108134us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbhlb:RealEstateNonOwnerOccupiedMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberbhlb:RealEstateNonOwnerOccupiedMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberbhlb:OtherRealEstateLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberbhlb:OtherRealEstateLoansMember2023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberbhlb:OtherRealEstateLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberbhlb:OtherRealEstateLoansMemberus-gaap:FinancialAssetPastDueMember2023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberbhlb:OtherRealEstateLoansMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberbhlb:OtherRealEstateLoansMember2023-12-310001108134us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2023-12-310001108134us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2023-12-310001108134us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2023-12-310001108134us-gaap:FinancialAssetPastDueMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2023-12-310001108134us-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310001108134us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2023-12-310001108134us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2023-12-310001108134us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2023-12-310001108134us-gaap:FinancialAssetPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2023-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:HomeEquityLoanMember2023-12-310001108134us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2023-12-310001108134us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2023-12-310001108134us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2023-12-310001108134us-gaap:FinancialAssetPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2023-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberbhlb:ConsumerOtherMember2023-12-310001108134us-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310001108134us-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001108134us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310001108134us-gaap:FinancialAssetPastDueMember2023-12-310001108134us-gaap:FinancialAssetNotPastDueMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-12-310001108134us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConstructionLoansMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberus-gaap:ConstructionLoansMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:FinancialAssetNotPastDueMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberbhlb:CommercialMultifamilyMember2022-12-310001108134us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbhlb:CommercialMultifamilyMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberbhlb:CommercialMultifamilyMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMemberus-gaap:FinancialAssetNotPastDueMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-12-310001108134us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbhlb:RealEstateOwnerOccupiedMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberbhlb:RealEstateOwnerOccupiedMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberus-gaap:FinancialAssetNotPastDueMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-12-310001108134us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbhlb:RealEstateNonOwnerOccupiedMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberbhlb:RealEstateNonOwnerOccupiedMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberus-gaap:FinancialAssetNotPastDueMember2022-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2022-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2022-12-310001108134us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2022-12-310001108134us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2022-12-310001108134us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2022-12-310001108134us-gaap:FinancialAssetPastDueMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2022-12-310001108134us-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMemberus-gaap:FinancialAssetNotPastDueMember2022-12-310001108134us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2022-12-310001108134us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2022-12-310001108134us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2022-12-310001108134us-gaap:FinancialAssetPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2022-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:HomeEquityLoanMember2022-12-310001108134us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2022-12-310001108134us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2022-12-310001108134us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2022-12-310001108134us-gaap:FinancialAssetPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2022-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberbhlb:ConsumerOtherMember2022-12-310001108134us-gaap:FinancingReceivables30To59DaysPastDueMember2022-12-310001108134us-gaap:FinancingReceivables60To89DaysPastDueMember2022-12-310001108134us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-12-310001108134us-gaap:FinancialAssetPastDueMember2022-12-310001108134us-gaap:FinancialAssetNotPastDueMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:RealEstateMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberbhlb:InvestmentSecuritiesandCashMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberbhlb:OtherCollateralMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMemberus-gaap:RealEstateMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMemberbhlb:InvestmentSecuritiesandCashMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:OtherCollateralMemberbhlb:CommercialMultifamilyMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberus-gaap:RealEstateMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberbhlb:InvestmentSecuritiesandCashMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberbhlb:OtherCollateralMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberus-gaap:RealEstateMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberbhlb:InvestmentSecuritiesandCashMember2023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberbhlb:OtherCollateralMember2023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:RealEstateMember2023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberbhlb:InvestmentSecuritiesandCashMember2023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberbhlb:OtherCollateralMember2023-12-310001108134us-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMemberus-gaap:RealEstateMember2023-12-310001108134us-gaap:ResidentialPortfolioSegmentMemberbhlb:InvestmentSecuritiesandCashMemberus-gaap:RealEstateLoanMember2023-12-310001108134bhlb:OtherCollateralMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2023-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:RealEstateMemberus-gaap:HomeEquityLoanMember2023-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberbhlb:InvestmentSecuritiesandCashMemberus-gaap:HomeEquityLoanMember2023-12-310001108134bhlb:OtherCollateralMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2023-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:RealEstateMemberbhlb:ConsumerOtherMember2023-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberbhlb:InvestmentSecuritiesandCashMemberbhlb:ConsumerOtherMember2023-12-310001108134bhlb:OtherCollateralMemberus-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2023-12-310001108134us-gaap:RealEstateMember2023-12-310001108134bhlb:InvestmentSecuritiesandCashMember2023-12-310001108134bhlb:OtherCollateralMember2023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:RealEstateMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberbhlb:InvestmentSecuritiesandCashMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberbhlb:OtherCollateralMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMemberus-gaap:RealEstateMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMemberbhlb:InvestmentSecuritiesandCashMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:OtherCollateralMemberbhlb:CommercialMultifamilyMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberus-gaap:RealEstateMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberbhlb:InvestmentSecuritiesandCashMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberbhlb:OtherCollateralMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberus-gaap:RealEstateMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberbhlb:InvestmentSecuritiesandCashMember2022-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberbhlb:OtherCollateralMember2022-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:RealEstateMember2022-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberbhlb:InvestmentSecuritiesandCashMember2022-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberbhlb:OtherCollateralMember2022-12-310001108134us-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMemberus-gaap:RealEstateMember2022-12-310001108134us-gaap:ResidentialPortfolioSegmentMemberbhlb:InvestmentSecuritiesandCashMemberus-gaap:RealEstateLoanMember2022-12-310001108134bhlb:OtherCollateralMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2022-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:RealEstateMemberus-gaap:HomeEquityLoanMember2022-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberbhlb:InvestmentSecuritiesandCashMemberus-gaap:HomeEquityLoanMember2022-12-310001108134bhlb:OtherCollateralMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2022-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:RealEstateMemberbhlb:ConsumerOtherMember2022-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberbhlb:InvestmentSecuritiesandCashMemberbhlb:ConsumerOtherMember2022-12-310001108134bhlb:OtherCollateralMemberus-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2022-12-310001108134us-gaap:RealEstateMember2022-12-310001108134bhlb:InvestmentSecuritiesandCashMember2022-12-310001108134bhlb:OtherCollateralMember2022-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:PrincipalForgivenessMember2023-01-012023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:PaymentDeferralMember2023-01-012023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:ExtendedMaturityMember2023-01-012023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:ContractualInterestRateReductionMember2023-01-012023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:ExtendedMaturityAndPrincipalForgivenessMember2023-01-012023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMemberus-gaap:PrincipalForgivenessMember2023-01-012023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMemberus-gaap:PaymentDeferralMember2023-01-012023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMemberus-gaap:ExtendedMaturityMember2023-01-012023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberus-gaap:ContractualInterestRateReductionMemberbhlb:CommercialMultifamilyMember2023-01-012023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMemberus-gaap:ExtendedMaturityAndPrincipalForgivenessMember2023-01-012023-12-310001108134us-gaap:CommercialPortfolioSegmentMemberbhlb:CommercialMultifamilyMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberus-gaap:PrincipalForgivenessMember2023-01-012023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberus-gaap:PaymentDeferralMember2023-01-012023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberus-gaap:ExtendedMaturityMember2023-01-012023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberus-gaap:ContractualInterestRateReductionMember2023-01-012023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberus-gaap:ExtendedMaturityAndPrincipalForgivenessMember2023-01-012023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateOwnerOccupiedMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberus-gaap:PrincipalForgivenessMember2023-01-012023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberus-gaap:PaymentDeferralMember2023-01-012023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberus-gaap:ExtendedMaturityMember2023-01-012023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberus-gaap:ContractualInterestRateReductionMember2023-01-012023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberus-gaap:ExtendedMaturityAndPrincipalForgivenessMember2023-01-012023-12-310001108134us-gaap:CommercialRealEstatePortfolioSegmentMemberbhlb:RealEstateNonOwnerOccupiedMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:PrincipalForgivenessMember2023-01-012023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:PaymentDeferralMember2023-01-012023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:ExtendedMaturityMember2023-01-012023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:ContractualInterestRateReductionMember2023-01-012023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:ExtendedMaturityAndPrincipalForgivenessMember2023-01-012023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-12-310001108134us-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMemberus-gaap:PrincipalForgivenessMember2023-01-012023-12-310001108134us-gaap:PaymentDeferralMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2023-01-012023-12-310001108134us-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMemberus-gaap:ExtendedMaturityMember2023-01-012023-12-310001108134us-gaap:ContractualInterestRateReductionMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2023-01-012023-12-310001108134us-gaap:ExtendedMaturityAndPrincipalForgivenessMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2023-01-012023-12-310001108134us-gaap:ResidentialPortfolioSegmentMemberus-gaap:RealEstateLoanMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PrincipalForgivenessMemberus-gaap:HomeEquityLoanMember2023-01-012023-12-310001108134us-gaap:PaymentDeferralMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2023-01-012023-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ExtendedMaturityMemberus-gaap:HomeEquityLoanMember2023-01-012023-12-310001108134us-gaap:ContractualInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2023-01-012023-12-310001108134us-gaap:ExtendedMaturityAndPrincipalForgivenessMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:HomeEquityLoanMember2023-01-012023-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:HomeEquityLoanMember2023-01-012023-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PrincipalForgivenessMemberbhlb:ConsumerOtherMember2023-01-012023-12-310001108134us-gaap:PaymentDeferralMemberus-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2023-01-012023-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ExtendedMaturityMemberbhlb:ConsumerOtherMember2023-01-012023-12-310001108134us-gaap:ContractualInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2023-01-012023-12-310001108134us-gaap:ExtendedMaturityAndPrincipalForgivenessMemberus-gaap:ConsumerPortfolioSegmentMemberbhlb:ConsumerOtherMember2023-01-012023-12-310001108134us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ExtendedMaturityAndInterestRateReductionMemberbhlb:ConsumerOtherMember2023-01-012023-12-310001108134us-gaap:PrincipalForgivenessMember2023-01-012023-12-310001108134us-gaap:PaymentDeferralMember2023-01-012023-12-310001108134us-gaap:ExtendedMaturityMember2023-01-012023-12-310001108134us-gaap:ContractualInterestRateReductionMember2023-01-012023-12-310001108134us-gaap:ExtendedMaturityAndPrincipalForgivenessMember2023-01-012023-12-310001108134us-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310001108134bhlb:CommercialAndIndustrialLoansPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2023-12-310001108134us-gaap:LandMember2023-12-310001108134us-gaap:LandMember2022-12-310001108134us-gaap:BuildingImprovementsMember2023-12-310001108134us-gaap:BuildingImprovementsMember2022-12-310001108134srt:MinimumMemberus-gaap:BuildingImprovementsMember2023-12-310001108134srt:MaximumMemberus-gaap:BuildingImprovementsMember2023-12-310001108134bhlb:FurnitureAndEquipmentMember2023-12-310001108134bhlb:FurnitureAndEquipmentMember2022-12-310001108134srt:MinimumMemberbhlb:FurnitureAndEquipmentMember2023-12-310001108134srt:MaximumMemberbhlb:FurnitureAndEquipmentMember2023-12-310001108134us-gaap:ConstructionInProgressMember2023-12-310001108134us-gaap:ConstructionInProgressMember2022-12-310001108134bhlb:ContinuingAndDiscontinuedOperationsMember2023-12-310001108134bhlb:ContinuingAndDiscontinuedOperationsMember2022-12-310001108134bhlb:NonMaturityDepositsMember2023-12-310001108134us-gaap:OtherIntangibleAssetsMember2023-12-310001108134bhlb:NonMaturityDepositsMember2022-12-310001108134us-gaap:OtherIntangibleAssetsMember2022-12-310001108134srt:MinimumMember2023-12-310001108134srt:MaximumMember2023-12-310001108134us-gaap:SegmentContinuingOperationsMember2023-01-012023-12-310001108134us-gaap:SegmentContinuingOperationsMember2022-01-012022-12-310001108134us-gaap:SegmentContinuingOperationsMember2021-01-012021-12-310001108134srt:AffiliatedEntityMember2023-12-310001108134srt:AffiliatedEntityMember2022-12-310001108134us-gaap:FederalHomeLoanBankCertificatesAndObligationsFHLBMember2023-12-310001108134us-gaap:FederalHomeLoanBankCertificatesAndObligationsFHLBMember2022-12-310001108134bhlb:PrivatePlacementSubordinatedNotesMember2023-12-310001108134bhlb:PrivatePlacementSubordinatedNotesMember2022-12-310001108134bhlb:BerkshireHillsCapitalTrustIMember2023-12-310001108134bhlb:BerkshireHillsCapitalTrustIMember2022-12-310001108134bhlb:SICapitalTrustIIMember2023-12-310001108134bhlb:SICapitalTrustIIMember2022-12-310001108134us-gaap:FederalReserveBankAdvancesMember2022-12-310001108134us-gaap:FederalReserveBankAdvancesMember2023-12-310001108134us-gaap:FederalReserveBankAdvancesMember2023-12-310001108134us-gaap:FederalReserveBankAdvancesMember2022-12-310001108134bhlb:FederalHomeLoanBankCertificatesAndObligationsFHLBCallableAdvancesMember2023-12-310001108134bhlb:FederalHomeLoanBankCertificatesAndObligationsFHLBAmortizingAdvancesMember2023-12-310001108134bhlb:FederalHomeLoanBankCertificatesAndObligationsFHLBCallableAdvancesMember2022-12-310001108134bhlb:FederalHomeLoanBankCertificatesAndObligationsFHLBAmortizingAdvancesMember2022-12-310001108134bhlb:FederalHomeLoanBankFixedRateAdvancesMember2023-12-310001108134srt:WeightedAverageMemberbhlb:FederalHomeLoanBankFixedRateAdvancesMember2023-12-310001108134srt:WeightedAverageMember2023-12-310001108134us-gaap:SubordinatedDebtMemberbhlb:PrivatePlacementSubordinatedNotesMember2022-06-012022-06-300001108134us-gaap:SubordinatedDebtMemberbhlb:PrivatePlacementSubordinatedNotesMember2023-06-300001108134bhlb:DebtInstrumentVariableRateThreeMonthSOFRMemberus-gaap:SubordinatedDebtMemberbhlb:PrivatePlacementSubordinatedNotesMember2023-12-310001108134bhlb:BerkshireHillsCapitalTrustIMemberus-gaap:JuniorSubordinatedDebtMember2023-12-310001108134bhlb:BerkshireHillsCapitalTrustIMemberbhlb:LondonInterbankOfferedRateLIBOR1Memberus-gaap:JuniorSubordinatedDebtMember2023-01-012023-12-310001108134bhlb:BerkshireHillsCapitalTrustIMemberus-gaap:JuniorSubordinatedDebtMember2022-12-310001108134bhlb:BerkshireHillsCapitalTrustIMemberus-gaap:JuniorSubordinatedDebtMember2023-01-012023-12-310001108134bhlb:SICapitalTrustIIMemberus-gaap:JuniorSubordinatedDebtMember2023-12-310001108134bhlb:LondonInterbankOfferedRateLIBOR1Memberbhlb:SICapitalTrustIIMemberus-gaap:JuniorSubordinatedDebtMember2023-01-012023-12-310001108134bhlb:SICapitalTrustIIMemberus-gaap:JuniorSubordinatedDebtMember2022-12-310001108134bhlb:SICapitalTrustIIMemberus-gaap:JuniorSubordinatedDebtMember2023-01-012023-12-310001108134us-gaap:PensionPlansDefinedBenefitMember2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMember2021-12-310001108134us-gaap:PensionPlansDefinedBenefitMember2023-01-012023-12-310001108134us-gaap:PensionPlansDefinedBenefitMember2022-01-012022-12-310001108134us-gaap:PensionPlansDefinedBenefitMember2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherAssetsMember2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherAssetsMember2022-12-310001108134us-gaap:OtherLiabilitiesMemberus-gaap:PensionPlansDefinedBenefitMember2023-12-310001108134us-gaap:OtherLiabilitiesMemberus-gaap:PensionPlansDefinedBenefitMember2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMember2021-01-012021-12-310001108134us-gaap:DefinedBenefitPlanEquitySecuritiesMember2023-12-310001108134us-gaap:FixedIncomeFundsMember2023-12-310001108134us-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberbhlb:DefinedBenefitPlanEquityMutualFundsLargeCapMember2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberbhlb:DefinedBenefitPlanEquityMutualFundsLargeCapMemberus-gaap:FairValueInputsLevel1Member2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberbhlb:DefinedBenefitPlanEquityMutualFundsLargeCapMemberus-gaap:FairValueInputsLevel2Member2023-12-310001108134us-gaap:DefinedBenefitPlanEquitySecuritiesMidCapMemberus-gaap:PensionPlansDefinedBenefitMember2023-12-310001108134us-gaap:DefinedBenefitPlanEquitySecuritiesMidCapMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Member2023-12-310001108134us-gaap:DefinedBenefitPlanEquitySecuritiesMidCapMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel2Member2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesSmallCapMember2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesSmallCapMemberus-gaap:FairValueInputsLevel1Member2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesSmallCapMemberus-gaap:FairValueInputsLevel2Member2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMember2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:FairValueInputsLevel1Member2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:FairValueInputsLevel2Member2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberbhlb:IntermediateDurationMember2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberbhlb:IntermediateDurationMemberus-gaap:FairValueInputsLevel1Member2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberbhlb:IntermediateDurationMemberus-gaap:FairValueInputsLevel2Member2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberbhlb:DefinedBenefitPlanEquitySecuritiesCommonStockLargeCapMember2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberbhlb:DefinedBenefitPlanEquitySecuritiesCommonStockLargeCapMemberus-gaap:FairValueInputsLevel1Member2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberbhlb:DefinedBenefitPlanEquitySecuritiesCommonStockLargeCapMemberus-gaap:FairValueInputsLevel2Member2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:MoneyMarketFundsMember2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel1Member2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel2Member2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Member2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel2Member2023-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberbhlb:DefinedBenefitPlanEquityMutualFundsLargeCapMember2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberbhlb:DefinedBenefitPlanEquityMutualFundsLargeCapMemberus-gaap:FairValueInputsLevel1Member2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberbhlb:DefinedBenefitPlanEquityMutualFundsLargeCapMemberus-gaap:FairValueInputsLevel2Member2022-12-310001108134us-gaap:DefinedBenefitPlanEquitySecuritiesMidCapMemberus-gaap:PensionPlansDefinedBenefitMember2022-12-310001108134us-gaap:DefinedBenefitPlanEquitySecuritiesMidCapMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Member2022-12-310001108134us-gaap:DefinedBenefitPlanEquitySecuritiesMidCapMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel2Member2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesSmallCapMember2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesSmallCapMemberus-gaap:FairValueInputsLevel1Member2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesSmallCapMemberus-gaap:FairValueInputsLevel2Member2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMember2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:FairValueInputsLevel1Member2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:FairValueInputsLevel2Member2022-12-310001108134us-gaap:FixedIncomeFundsMemberus-gaap:PensionPlansDefinedBenefitMember2022-12-310001108134us-gaap:FixedIncomeFundsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Member2022-12-310001108134us-gaap:FixedIncomeFundsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel2Member2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberbhlb:IntermediateDurationMember2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberbhlb:IntermediateDurationMemberus-gaap:FairValueInputsLevel1Member2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberbhlb:IntermediateDurationMemberus-gaap:FairValueInputsLevel2Member2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:MoneyMarketFundsMember2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel1Member2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueInputsLevel2Member2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel1Member2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMemberus-gaap:FairValueInputsLevel2Member2022-12-310001108134us-gaap:PensionPlansDefinedBenefitMember2023-07-010001108134us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2014-08-012014-08-010001108134us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-12-310001108134us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-12-310001108134us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2023-01-012023-12-310001108134us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-01-012022-12-310001108134us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2023-12-310001108134us-gaap:OtherLiabilitiesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2023-12-310001108134us-gaap:OtherLiabilitiesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-12-310001108134us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-01-012021-12-310001108134us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2023-01-012023-12-310001108134us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2023-12-310001108134us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2022-12-310001108134us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2022-01-012022-12-310001108134us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2021-01-012021-12-310001108134us-gaap:DomesticCountryMember2023-12-310001108134us-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2023-12-310001108134bhlb:InterestRateCollarsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2023-12-310001108134bhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001108134us-gaap:NondesignatedMember2023-12-310001108134bhlb:EconomicHedgingMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001108134bhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberbhlb:RiskParticipationAgreementsMember2023-12-310001108134bhlb:ForwardCommitmentsMemberbhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001108134us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:CommercialLoanMember2023-12-310001108134us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:CommercialLoanMember2023-01-012023-12-310001108134bhlb:InterestRateCollarsMemberus-gaap:CashFlowHedgingMemberus-gaap:CommercialLoanMember2023-12-310001108134bhlb:InterestRateCollarsMemberus-gaap:CashFlowHedgingMemberus-gaap:CommercialLoanMember2023-01-012023-12-310001108134us-gaap:CashFlowHedgingMember2023-12-310001108134bhlb:EconomicHedgingMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NontaxableMunicipalBondsMember2023-12-310001108134bhlb:EconomicHedgingMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NontaxableMunicipalBondsMember2023-01-012023-12-310001108134us-gaap:CommercialPaperMemberbhlb:EconomicHedgingMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001108134us-gaap:CommercialPaperMemberbhlb:EconomicHedgingMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-01-012023-12-310001108134us-gaap:CommercialPaperMemberbhlb:ReverseInterestRateSwapsMemberbhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001108134us-gaap:CommercialPaperMemberbhlb:ReverseInterestRateSwapsMemberbhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-01-012023-12-310001108134bhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberbhlb:RiskParticipationAgreementsMember2023-01-012023-12-310001108134bhlb:ForwardCommitmentsMemberbhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-01-012023-12-310001108134us-gaap:NondesignatedMemberus-gaap:CommitmentsToExtendCreditMember2023-12-310001108134us-gaap:NondesignatedMemberus-gaap:CommitmentsToExtendCreditMember2023-01-012023-12-310001108134us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:CommercialLoanMember2022-12-310001108134us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:CommercialLoanMember2022-01-012022-12-310001108134bhlb:ForwardStartingInterestRateSwapsMemberus-gaap:CashFlowHedgingMemberus-gaap:CommercialLoanMember2022-12-310001108134bhlb:ForwardStartingInterestRateSwapsMemberus-gaap:CashFlowHedgingMemberus-gaap:CommercialLoanMember2022-01-012022-12-310001108134bhlb:InterestRateCollarsMemberus-gaap:CashFlowHedgingMemberus-gaap:CommercialLoanMember2022-12-310001108134bhlb:InterestRateCollarsMemberus-gaap:CashFlowHedgingMemberus-gaap:CommercialLoanMember2022-01-012022-12-310001108134us-gaap:CashFlowHedgingMember2022-12-310001108134bhlb:EconomicHedgingMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NontaxableMunicipalBondsMember2022-12-310001108134bhlb:EconomicHedgingMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NontaxableMunicipalBondsMember2022-01-012022-12-310001108134us-gaap:CommercialPaperMemberbhlb:EconomicHedgingMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-12-310001108134us-gaap:CommercialPaperMemberbhlb:EconomicHedgingMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-01-012022-12-310001108134us-gaap:CommercialPaperMemberbhlb:ReverseInterestRateSwapsMemberbhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-12-310001108134us-gaap:CommercialPaperMemberbhlb:ReverseInterestRateSwapsMemberbhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-01-012022-12-310001108134bhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberbhlb:RiskParticipationAgreementsMember2022-12-310001108134bhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberbhlb:RiskParticipationAgreementsMember2022-01-012022-12-310001108134bhlb:ForwardCommitmentsMemberbhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-12-310001108134bhlb:ForwardCommitmentsMemberbhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-01-012022-12-310001108134bhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-12-310001108134us-gaap:NondesignatedMemberus-gaap:CommitmentsToExtendCreditMember2022-12-310001108134us-gaap:NondesignatedMemberus-gaap:CommitmentsToExtendCreditMember2022-01-012022-12-310001108134us-gaap:NondesignatedMember2022-12-310001108134us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2023-12-31bhlb:instrument0001108134bhlb:InterestRateSwapAndForwardStartingINterestRateSwapMemberus-gaap:CashFlowHedgingMember2023-12-310001108134srt:MinimumMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2023-01-012023-12-310001108134srt:MaximumMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2023-01-012023-12-310001108134bhlb:InterestRateCollarsMemberus-gaap:CashFlowHedgingMember2023-12-310001108134bhlb:FirstInterestRateCollarsMemberus-gaap:CashFlowHedgingMember2023-12-310001108134bhlb:SecondInterestRateCollarsMemberus-gaap:CashFlowHedgingMember2023-12-310001108134srt:MinimumMemberbhlb:InterestRateCollarsMemberus-gaap:CashFlowHedgingMember2023-01-012023-12-310001108134srt:MaximumMemberbhlb:InterestRateCollarsMemberus-gaap:CashFlowHedgingMember2023-01-012023-12-310001108134us-gaap:InterestRateSwapMemberus-gaap:CommercialLoanMember2023-01-012023-12-310001108134us-gaap:InterestRateSwapMemberus-gaap:CommercialLoanMember2022-01-012022-12-310001108134us-gaap:InterestRateSwapMemberus-gaap:CommercialLoanMember2021-01-012021-12-310001108134us-gaap:InterestExpenseMemberus-gaap:InterestRateSwapMember2023-01-012023-12-310001108134us-gaap:InterestExpenseMemberus-gaap:InterestRateSwapMember2022-01-012022-12-310001108134us-gaap:InterestExpenseMemberus-gaap:InterestRateSwapMember2021-01-012021-12-310001108134bhlb:EconomicHedgingMemberus-gaap:InterestRateSwapMemberus-gaap:NontaxableMunicipalBondsMember2023-12-310001108134bhlb:EconomicHedgingMemberus-gaap:NontaxableMunicipalBondsMember2023-12-310001108134bhlb:EconomicHedgingMemberus-gaap:NontaxableMunicipalBondsMember2023-01-012023-12-310001108134bhlb:EconomicHedgingMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberbhlb:IndustrialRevenueBondMember2023-01-012023-12-310001108134bhlb:EconomicHedgingMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberbhlb:IndustrialRevenueBondMember2022-01-012022-12-310001108134bhlb:EconomicHedgingMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberbhlb:IndustrialRevenueBondMember2021-01-012021-12-310001108134us-gaap:CommercialPaperMemberbhlb:EconomicHedgingMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-01-012021-12-310001108134us-gaap:CommercialPaperMemberbhlb:ReverseInterestRateSwapsMemberbhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-01-012021-12-310001108134bhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberbhlb:RiskParticipationAgreementsMember2021-01-012021-12-310001108134bhlb:ForwardCommitmentsMemberbhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberbhlb:NoninterestIncomeMember2023-01-012023-12-310001108134bhlb:ForwardCommitmentsMemberbhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberbhlb:NoninterestIncomeMember2022-01-012022-12-310001108134bhlb:ForwardCommitmentsMemberbhlb:EconomicHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberbhlb:NoninterestIncomeMember2021-01-012021-12-310001108134us-gaap:NondesignatedMemberus-gaap:CommitmentsToExtendCreditMemberbhlb:NoninterestIncomeMember2023-01-012023-12-310001108134us-gaap:NondesignatedMemberus-gaap:CommitmentsToExtendCreditMemberbhlb:NoninterestIncomeMember2022-01-012022-12-310001108134us-gaap:NondesignatedMemberus-gaap:CommitmentsToExtendCreditMemberbhlb:NoninterestIncomeMember2021-01-012021-12-310001108134us-gaap:NondesignatedMemberus-gaap:CommitmentsToExtendCreditMember2021-01-012021-12-310001108134bhlb:FinancialInstitutionsMemberus-gaap:InterestRateSwapMember2023-12-310001108134bhlb:FinancialInstitutionsMemberus-gaap:InterestRateSwapMember2022-12-310001108134bhlb:CommercialCounterpartiesMemberus-gaap:InterestRateSwapMember2023-12-310001108134bhlb:CommercialCounterpartiesMemberus-gaap:InterestRateSwapMember2022-12-310001108134bhlb:InstitutionalCounterpartiesMemberus-gaap:InterestRateSwapMember2023-12-310001108134us-gaap:InterestRateSwapMember2023-12-310001108134bhlb:InstitutionalCounterpartiesMemberus-gaap:InterestRateSwapMember2022-12-310001108134us-gaap:InterestRateSwapMember2022-12-310001108134srt:MinimumMember2023-01-012023-12-310001108134srt:MaximumMember2023-01-012023-12-310001108134us-gaap:LoanOriginationCommitmentsMember2023-12-310001108134us-gaap:LoanOriginationCommitmentsMember2022-12-310001108134us-gaap:UnusedLinesOfCreditMember2023-12-310001108134us-gaap:UnusedLinesOfCreditMember2022-12-310001108134bhlb:UnadvancedFundsOnLinesOfCreditMember2023-12-310001108134bhlb:UnadvancedFundsOnLinesOfCreditMember2022-12-310001108134bhlb:UnadvancedFundsOnLoansMember2023-12-310001108134bhlb:UnadvancedFundsOnLoansMember2022-12-310001108134us-gaap:StandbyLettersOfCreditMember2023-12-310001108134us-gaap:StandbyLettersOfCreditMember2022-12-310001108134srt:SubsidiariesMember2023-12-310001108134srt:SubsidiariesMember2022-12-310001108134us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-12-310001108134us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-12-310001108134us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-12-310001108134us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-12-310001108134us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-01-012023-12-310001108134us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-01-012023-12-310001108134us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-01-012023-12-310001108134us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-01-012022-12-310001108134us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-01-012022-12-310001108134us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-01-012022-12-310001108134us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-01-012021-12-310001108134us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-01-012021-12-310001108134us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-12-310001108134us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-12-310001108134us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-12-310001108134us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-12-310001108134us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-12-310001108134us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-12-310001108134us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-012021-12-310001108134us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001108134us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001108134us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-12-310001108134us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001108134us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001108134us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-12-310001108134us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2023-01-012023-12-310001108134us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2022-01-012022-12-310001108134us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2021-01-012021-12-310001108134us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001108134us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001108134us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-12-310001108134us-gaap:RestrictedStockMember2023-01-012023-12-310001108134us-gaap:RestrictedStockMember2022-01-012022-12-310001108134us-gaap:RestrictedStockMember2021-01-012021-12-310001108134us-gaap:EmployeeStockOptionMember2023-01-012023-12-310001108134us-gaap:EmployeeStockOptionMember2022-01-012022-12-310001108134us-gaap:EmployeeStockOptionMember2021-01-012021-12-310001108134us-gaap:EmployeeStockOptionMember2023-01-012023-12-310001108134us-gaap:EmployeeStockOptionMember2022-01-012022-12-310001108134us-gaap:EmployeeStockOptionMember2021-01-012021-12-310001108134bhlb:EquityCompensationPlan2022Member2023-12-310001108134us-gaap:RestrictedStockMemberbhlb:EquityCompensationPlan2022Member2023-01-012023-12-310001108134bhlb:EquityCompensationPlan2022Memberus-gaap:EmployeeStockOptionMember2023-01-012023-12-310001108134us-gaap:RestrictedStockMember2022-12-310001108134us-gaap:EmployeeStockOptionMember2022-12-310001108134us-gaap:RestrictedStockMember2023-12-310001108134us-gaap:EmployeeStockOptionMember2023-12-310001108134us-gaap:EmployeeStockOptionMember2021-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2023-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel1Member2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel2Member2023-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USTreasurySecuritiesMember2023-12-310001108134us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2023-12-310001108134us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2023-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001108134us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:CollateralizedMortgageObligationsMember2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel2Member2023-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedMortgageObligationsMember2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CollateralizedMortgageObligationsMember2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2023-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310001108134us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2023-12-310001108134us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2023-12-310001108134us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001108134us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel1Member2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel2Member2023-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2023-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:OtherDebtSecuritiesMember2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2022-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel2Member2022-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2022-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:USTreasurySecuritiesMember2022-12-310001108134us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2022-12-310001108134us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001108134us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberus-gaap:CollateralizedMortgageObligationsMember2022-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueInputsLevel2Member2022-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedMortgageObligationsMember2022-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:CollateralizedMortgageObligationsMember2022-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2022-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2022-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2022-12-310001108134us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2022-12-310001108134us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310001108134us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001108134us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel2Member2022-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2022-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2022-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2022-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:OtherDebtSecuritiesMember2022-12-31bhlb:transfer0001108134us-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMember2023-01-012023-12-310001108134srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberbhlb:LoansHeldforInvestmentMember2020-01-010001108134us-gaap:FairValueMeasurementsRecurringMemberbhlb:LoansHeldforInvestmentMemberus-gaap:SegmentContinuingOperationsMemberus-gaap:FairValueInputsLevel2Member2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberbhlb:LoansHeldforInvestmentMemberus-gaap:SegmentContinuingOperationsMemberus-gaap:FairValueInputsLevel2Member2022-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:SegmentContinuingOperationsMemberus-gaap:FairValueInputsLevel2Memberbhlb:LoansHeldForSaleMember2023-12-310001108134us-gaap:FairValueMeasurementsRecurringMemberus-gaap:SegmentContinuingOperationsMemberus-gaap:FairValueInputsLevel2Memberbhlb:LoansHeldForSaleMember2022-12-310001108134us-gaap:SegmentContinuingOperationsMemberbhlb:LoansHeldForSaleMember2023-01-012023-12-310001108134us-gaap:SegmentContinuingOperationsMemberbhlb:LoansHeldForSaleMember2022-01-012022-12-310001108134us-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMember2021-12-310001108134bhlb:DebtSecuritiesAvailableForSaleMember2021-12-310001108134bhlb:LoansHeldforInvestmentMember2021-12-310001108134us-gaap:CommitmentsToExtendCreditMember2021-12-310001108134us-gaap:ForwardContractsMember2021-12-310001108134bhlb:CapitalizedMortgageServicingRightsMember2021-12-310001108134us-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMember2022-01-012022-12-310001108134bhlb:LoansHeldforInvestmentMember2022-01-012022-12-310001108134us-gaap:CommitmentsToExtendCreditMember2022-01-012022-12-310001108134us-gaap:ForwardContractsMember2022-01-012022-12-310001108134bhlb:CapitalizedMortgageServicingRightsMember2022-01-012022-12-310001108134bhlb:DebtSecuritiesAvailableForSaleMember2022-01-012022-12-310001108134us-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMember2022-12-310001108134bhlb:DebtSecuritiesAvailableForSaleMember2022-12-310001108134bhlb:LoansHeldforInvestmentMember2022-12-310001108134us-gaap:CommitmentsToExtendCreditMember2022-12-310001108134us-gaap:ForwardContractsMember2022-12-310001108134bhlb:CapitalizedMortgageServicingRightsMember2022-12-310001108134bhlb:LoansHeldforInvestmentMember2023-01-012023-12-310001108134us-gaap:CommitmentsToExtendCreditMember2023-01-012023-12-310001108134us-gaap:ForwardContractsMember2023-01-012023-12-310001108134bhlb:CapitalizedMortgageServicingRightsMember2023-01-012023-12-310001108134bhlb:DebtSecuritiesAvailableForSaleMember2023-01-012023-12-310001108134us-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMember2023-12-310001108134bhlb:DebtSecuritiesAvailableForSaleMember2023-12-310001108134bhlb:LoansHeldforInvestmentMember2023-12-310001108134us-gaap:CommitmentsToExtendCreditMember2023-12-310001108134us-gaap:ForwardContractsMember2023-12-310001108134bhlb:CapitalizedMortgageServicingRightsMember2023-12-310001108134us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMember2023-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberbhlb:DebtSecuritiesAvailableForSaleMember2023-12-310001108134bhlb:MeasurementInputPriceIndicationMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberbhlb:DebtSecuritiesAvailableForSaleMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310001108134us-gaap:ValuationTechniqueDiscountedCashFlowMemberbhlb:CollateralValueMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001108134srt:MaximumMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberbhlb:CollateralValueMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommitmentsToExtendCreditMember2023-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberbhlb:MeasurementInputClosingRatioMemberbhlb:HistoricalTrendValuationTechniqueMemberus-gaap:CommitmentsToExtendCreditMember2023-12-310001108134bhlb:PricingModelValuationTechniqueMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommitmentsToExtendCreditMemberbhlb:MeasurementInputOriginationCostsMember2023-12-31bhlb:uSDPerLoan0001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberbhlb:ForwardCommitmentsMember2023-12-310001108134us-gaap:FairValueInputsLevel3Memberbhlb:ForwardCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMemberbhlb:MeasurementInputClosingRatioMemberbhlb:HistoricalTrendValuationTechniqueMember2023-12-310001108134bhlb:PricingModelValuationTechniqueMemberus-gaap:FairValueInputsLevel3Memberbhlb:ForwardCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMemberbhlb:MeasurementInputOriginationCostsMember2023-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberbhlb:CapitalizedMortgageServicingRightsMember2023-12-310001108134us-gaap:MeasurementInputConstantPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberbhlb:CapitalizedMortgageServicingRightsMember2023-12-310001108134us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberbhlb:CapitalizedMortgageServicingRightsMemberus-gaap:MeasurementInputDiscountRateMember2023-12-310001108134us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputDiscountRateMember2022-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberbhlb:DebtSecuritiesAvailableForSaleMember2022-12-310001108134bhlb:MeasurementInputPriceIndicationMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberbhlb:DebtSecuritiesAvailableForSaleMemberus-gaap:MarketApproachValuationTechniqueMember2022-12-310001108134us-gaap:ValuationTechniqueDiscountedCashFlowMemberbhlb:CollateralValueMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001108134srt:MaximumMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberbhlb:CollateralValueMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommitmentsToExtendCreditMember2022-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberbhlb:MeasurementInputClosingRatioMemberbhlb:HistoricalTrendValuationTechniqueMemberus-gaap:CommitmentsToExtendCreditMember2022-12-310001108134bhlb:PricingModelValuationTechniqueMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommitmentsToExtendCreditMemberbhlb:MeasurementInputOriginationCostsMember2022-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberbhlb:ForwardCommitmentsMember2022-12-310001108134us-gaap:FairValueInputsLevel3Memberbhlb:ForwardCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMemberbhlb:MeasurementInputClosingRatioMemberbhlb:HistoricalTrendValuationTechniqueMember2022-12-310001108134bhlb:PricingModelValuationTechniqueMemberus-gaap:FairValueInputsLevel3Memberbhlb:ForwardCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMemberbhlb:MeasurementInputOriginationCostsMember2022-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberbhlb:CapitalizedMortgageServicingRightsMember2022-12-310001108134us-gaap:MeasurementInputConstantPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberbhlb:CapitalizedMortgageServicingRightsMember2022-12-310001108134us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberbhlb:CapitalizedMortgageServicingRightsMemberus-gaap:MeasurementInputDiscountRateMember2022-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2022-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberbhlb:FairValueOfCollateralValuationTechniqueMember2023-12-310001108134us-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputLossSeverityMemberbhlb:FairValueOfCollateralValuationTechniqueMember2023-12-310001108134srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputLossSeverityMemberbhlb:FairValueOfCollateralValuationTechniqueMember2023-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputLossSeverityMemberbhlb:FairValueOfCollateralValuationTechniqueMembersrt:WeightedAverageMember2023-12-310001108134us-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputAppraisedValueMemberbhlb:FairValueOfCollateralValuationTechniqueMember2023-12-310001108134srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputAppraisedValueMemberbhlb:FairValueOfCollateralValuationTechniqueMember2023-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputAppraisedValueMemberbhlb:FairValueOfCollateralValuationTechniqueMembersrt:WeightedAverageMember2023-12-310001108134us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberbhlb:CapitalizedMortgageServicingRightsMember2023-12-310001108134us-gaap:MeasurementInputConstantPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberbhlb:CapitalizedMortgageServicingRightsMember2023-12-310001108134srt:MaximumMemberus-gaap:MeasurementInputConstantPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberbhlb:CapitalizedMortgageServicingRightsMember2023-12-310001108134us-gaap:MeasurementInputConstantPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberbhlb:CapitalizedMortgageServicingRightsMembersrt:WeightedAverageMember2023-12-310001108134us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberbhlb:CapitalizedMortgageServicingRightsMemberus-gaap:MeasurementInputDiscountRateMember2023-12-310001108134srt:MaximumMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberbhlb:CapitalizedMortgageServicingRightsMemberus-gaap:MeasurementInputDiscountRateMember2023-12-310001108134us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberbhlb:CapitalizedMortgageServicingRightsMembersrt:WeightedAverageMemberus-gaap:MeasurementInputDiscountRateMember2023-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberbhlb:FairValueOfCollateralValuationTechniqueMember2022-12-310001108134us-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputLossSeverityMemberbhlb:FairValueOfCollateralValuationTechniqueMember2022-12-310001108134srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputLossSeverityMemberbhlb:FairValueOfCollateralValuationTechniqueMember2022-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputLossSeverityMemberbhlb:FairValueOfCollateralValuationTechniqueMembersrt:WeightedAverageMember2022-12-310001108134us-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputAppraisedValueMemberbhlb:FairValueOfCollateralValuationTechniqueMember2022-12-310001108134srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputAppraisedValueMemberbhlb:FairValueOfCollateralValuationTechniqueMember2022-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputAppraisedValueMemberbhlb:FairValueOfCollateralValuationTechniqueMembersrt:WeightedAverageMember2022-12-310001108134us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputAppraisedValueMemberbhlb:FairValueOfCollateralValuationTechniqueMember2022-12-310001108134us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberbhlb:CapitalizedMortgageServicingRightsMember2022-12-310001108134us-gaap:MeasurementInputConstantPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberbhlb:CapitalizedMortgageServicingRightsMember2022-12-310001108134srt:MaximumMemberus-gaap:MeasurementInputConstantPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberbhlb:CapitalizedMortgageServicingRightsMember2022-12-310001108134us-gaap:MeasurementInputConstantPrepaymentRateMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberbhlb:CapitalizedMortgageServicingRightsMembersrt:WeightedAverageMember2022-12-310001108134us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberbhlb:CapitalizedMortgageServicingRightsMemberus-gaap:MeasurementInputDiscountRateMember2022-12-310001108134srt:MaximumMemberus-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberbhlb:CapitalizedMortgageServicingRightsMemberus-gaap:MeasurementInputDiscountRateMember2022-12-310001108134us-gaap:ValuationTechniqueDiscountedCashFlowMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberbhlb:CapitalizedMortgageServicingRightsMembersrt:WeightedAverageMemberus-gaap:MeasurementInputDiscountRateMember2022-12-310001108134us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310001108134us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001108134us-gaap:FairValueInputsLevel1Member2023-12-310001108134us-gaap:FairValueInputsLevel2Member2023-12-310001108134us-gaap:FairValueInputsLevel3Member2023-12-310001108134us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001108134us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001108134us-gaap:FairValueInputsLevel1Member2022-12-310001108134us-gaap:FairValueInputsLevel2Member2022-12-310001108134us-gaap:FairValueInputsLevel3Member2022-12-310001108134srt:ParentCompanyMembersrt:ReportableLegalEntitiesMember2023-12-310001108134srt:ParentCompanyMembersrt:ReportableLegalEntitiesMember2022-12-310001108134srt:ParentCompanyMembersrt:ReportableLegalEntitiesMember2023-01-012023-12-310001108134srt:ParentCompanyMembersrt:ReportableLegalEntitiesMember2022-01-012022-12-310001108134srt:ParentCompanyMembersrt:ReportableLegalEntitiesMember2021-01-012021-12-310001108134srt:ParentCompanyMembersrt:ReportableLegalEntitiesMember2021-12-310001108134srt:ParentCompanyMembersrt:ReportableLegalEntitiesMember2020-12-3100011081342023-10-012023-12-3100011081342023-07-012023-09-3000011081342023-04-012023-06-3000011081342023-01-012023-03-3100011081342022-10-012022-12-3100011081342022-07-012022-09-3000011081342022-04-012022-06-3000011081342022-01-012022-03-310001108134bhlb:ServiceChargesMember2023-01-012023-12-310001108134bhlb:ServiceChargesMember2022-01-012022-12-310001108134bhlb:ServiceChargesMember2021-01-012021-12-310001108134bhlb:InterchangeIncomeMember2023-01-012023-12-310001108134bhlb:InterchangeIncomeMember2022-01-012022-12-310001108134bhlb:InterchangeIncomeMember2021-01-012021-12-31
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 10-K
 
      ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the fiscal year ended: December 31, 2023
 
         TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the transition period from           to           
 
Commission File Number: 001-15781
bhlblogoa081a01.jpg
BERKSHIRE HILLS BANCORP, INC.
(Exact name of registrant as specified in its charter)
 
Delaware 04-3510455
(State or other jurisdiction of
incorporation or organization)
 (I.R.S. Employer Identification No.)
 
60 State StreetBoston Massachusetts02109
(Address of principal executive offices)(Zip Code)
 
Registrant’s telephone number, including area code: (617) 641-9206,
 
Securities registered pursuant to Section 12(b) of the Act:
 
 Title of each classTrading Symbol(s) Name of Exchange on which registered 
 Common stock, par value $0.01 per shareBHLB New York Stock Exchange 
 
Securities registered pursuant to Section 12(g) of the Act: None
 
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  Yes ý
No o
 
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.  Yes o No ý
 
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes ý No o
 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes ý No o
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.  See the definition of “large accelerated filer,” “accelerated filer”, “smaller reporting company”, and "emerging growth company" in Rule 12b-2 of the Exchange Act.  (Check one)
 
Large Accelerated Filer xAccelerated Filer
   
Non-Accelerated Filer oSmaller Reporting Company
Emerging Growth Company
 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of
the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15
U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b). ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).
 
The aggregate market value of the voting and non-voting common equity held by non-affiliates was approximately $0.9 billion, based upon the closing price of $20.73 as quoted on the New York Stock Exchange as of the last business day of the registrant’s most recently completed second fiscal quarter.
 
The number of shares outstanding of the registrant’s common stock as of February 23, 2024 was 43,624,434.
 
DOCUMENTS INCORPORATED BY REFERENCE:  Portions of the Proxy Statement for the 2024 Annual Meeting of Shareholders are incorporated by reference in Part III of this Form 10-K.








INDEX
 
 
   
   
   
   
   
   
   
 
   

   
   

   
   
   

   
   
   
 
   
   
   
2



   
   
 
   
   
   
TABLE INDEX 
   
   
   
 
ITEM 1 TABLE 1 — LOAN PORTFOLIO ANALYSIS
   
 
   
 
   
 
   
 
   
 
   
 
   
   
   
 
ITEM 7 TABLE 1 — AVERAGE BALANCES, INTEREST AND AVERAGE YIELD COSTS
   
 
   
 
3

PART I
ITEM 1. BUSINESS

FORWARD-LOOKING STATEMENTS
Certain statements contained in this document that are not historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (referred to as the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (referred to as the Securities Exchange Act), and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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.

These forward-looking statements are subject to significant risks, assumptions and uncertainties, including among other things, changes in general economic and business conditions, increased competitive pressures, changes in the interest rate environment and inflation, legislative and regulatory change, changes in the financial markets, and other risks and uncertainties disclosed from time to time in documents that Berkshire Hills Bancorp files with the Securities and Exchange Commission, including the Risk Factors in Item 1A of this report.

Because of these and other uncertainties, Berkshire’s actual results, performance or achievements, or industry results, may be materially different from the results indicated by these forward-looking statements. In addition, Berkshire’s past results of operations do not necessarily indicate Berkshire’s combined future results. You should not place undue reliance on any of the forward-looking statements, which speak only as of the dates on which they were made. Berkshire is not undertaking an obligation to update forward-looking statements, even though its situation may change in the future, except as required under federal securities law. Berkshire qualifies all of its forward-looking statements by these cautionary statements.

GENERAL
Berkshire Hills Bancorp, Inc. (“Berkshire” or “the Company”) is headquartered in Boston, Massachusetts. Berkshire is a Delaware corporation and the holding company for Berkshire Bank (“the Bank”). The Bank
provides Commercial Banking, Retail Banking, Consumer Lending, Private Banking and Wealth Management services. At year-end 2023, the Bank had $12.4 billion in assets and 96 full-service financial centers in its New England and New York footprint.

FILINGS
Information regarding the Company is available through the Investor Relations tab at berkshirebank.com. The Company’s annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and any amendments to those reports filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 are available free of charge at sec.gov and, as soon as reasonably practicable after we electronically file such material with the Securities and Exchange Commission, at berkshirebank.com under the Investor Relations tab. Information on the website is not incorporated by reference and is not a part of this annual report on Form 10-K.

COMPETITION
The Company is subject to strong competition from banks and other financial institutions and financial service providers. Its competition includes national and super-regional banks. Non-bank competitors include credit unions, brokerage firms, insurance providers, financial planners, and the mutual fund industry. New technology is reshaping customer interaction with financial service providers and the increase of internet-accessible financial institutions increases competition for the Company’s customers. The Company generally competes on the basis of customer service, relationship management, and the fair pricing of its products. The location and convenience of branch offices is also a significant competitive factor, particularly regarding new offices. The Company is pursuing a “banker heavy, branch light” model in newer markets, and uses its mobile MyBanker teams which provide personalized service to customers with committed relationships. Due to recent mergers of in-market bank competitors, the Company is pursuing opportunities to expand its market share and talent recruitment. The Company seeks to differentiate itself with its DigitouchSM approach to personal service and user-friendly technology, as well as its commitment to corporate responsibility. The Company recently introduced its new brand theme of “Where You Bank Matters” to highlight these differentiating factors.


4

LENDING ACTIVITIES
General. The Bank originates loans in the basic portfolio categories discussed below. Lending activities are limited by federal and state laws and regulations. Loan interest rates and other key loan terms are affected principally by the Bank’s credit policy, asset/liability strategy, loan demand, competition, and the supply of money available for lending purposes. These factors, in turn, are affected by general and economic conditions, monetary policies of the federal government, including the Federal Reserve, legislative tax policies, and governmental budgetary matters. Most of the Bank’s loans held for investment are made in its market areas and are secured by real estate located in its market areas. Lending is therefore affected by activity in these real estate markets. The Bank monitors and manages the amount of long-term fixed-rate lending volume. Adjustable-rate loan products generally reduce interest rate risk but may produce higher loan losses in the event of sustained rate increases. The Bank generally originates loans for investment except for residential mortgages, which are sometimes originated for sale on a servicing released basis. Additionally, the Bank also originates Small Business Administration ("SBA") 7A loans for sale to investors. The Bank also conducts loan participations generally with other banks doing business in its markets, including selected national banks.

Loan Portfolio Analysis. The following table sets forth the year-end composition of the Bank’s loan portfolio in dollar amounts and as a percentage of the portfolio at the dates indicated. Further information about the composition of the loan portfolio is contained in Note 6 – Loans of the Consolidated Financial Statements.

Item 1 Table 1 – Loan Portfolio Analysis
202320222021
(In millions)Amount Percent of Total AmountPercent of TotalAmountPercent of Total
Loans:
Construction$640 7.1 %$320 3.9 %$324 4.7 %
Commercial multifamily599 6.6 620 7.5 516 7.6 
Commercial real estate owner occupied629 7.0 641 7.7 607 8.9 
Commercial real estate non-owner occupied2,607 28.8 2,496 29.9 2,157 31.6 
Commercial and industrial1,359 15.1 1,445 17.3 1,285 18.8 
Residential real estate2,760 30.5 2,312 27.7 1,489 21.8 
Home equity224 2.5 227 2.7 252 3.7 
Consumer other221 2.4 274 3.3 196 2.9 
Total$9,039 100.0 %$8,335 100.0 %$6,826 100.0 %
Allowance for credit losses(105)(96)(106)
Net loans$8,934 $8,239 $6,720 

There is further information about the above components of the loan portfolio, and the risk characteristics relevant to each portfolio segment, in the “Loans and Related Allowance for Credit Losses” footnote to the financial statements referenced in Item 8 of this report. There is also information about the loan portfolio and changes in the portfolio during 2023 in Management’s Discussion and Analysis of Financial Condition and Results of Operations in Item 7 of this report. There is reference made to Commercial and Retail Loans, as well as to Commercial Real Estate loans. Commercial Real Estate loans include Construction, Commercial Multi-Family, Commercial Real Estate Owner Occupied, and Commercial Real Estate Non-Owner Occupied. Commercial loans include Commercial Real Estate loans and Commercial and Industrial Loans. Retail loans include Residential Real Estate loans and Consumer loans, which are comprised of Home Equity loans and Consumer other loans.


5

Commercial Real Estate. The Bank originates commercial real estate loans on properties used for business purposes such as retail, multifamily, office, healthcare, hospitality, industrial, and manufacturing facilities. Commercial real estate loans are provided on owner-occupied properties and on investor-owned properties and also include construction loans. Loans may generally be made with amortizations of up to 30 years and with final maturities of 10 years or less. As part of its business activities, the Bank also enters into commercial loan participations and interest rate swaps.

Commercial real estate is generally managed within federal regulatory monitoring guidelines of 300% of capital, with construction loans within 100% of capital, as defined in the guidance. Total supervisory commercial real estate loans measured 287% of regulatory capital at year-end 2023 and construction real estate loans measured 43% of regulatory capital as defined in accordance with regulatory monitory guidelines.

The Bank has hold limits for numerous categories of commercial lending including healthcare, hospitality, retail, and construction. Commercial real estate loans are among the largest of the Bank’s loans, and may have higher credit risk than the overall credit portfolio. Because repayment is often dependent on the successful operation or management of the properties, repayment of commercial real estate loans may be affected by adverse conditions in the real estate market or the economy. The Bank seeks to manage these risks through its underwriting disciplines and portfolio management processes. The Bank generally requires that borrowers have debt service coverage ratios (the ratio of available cash flows before debt service to debt service) of at least 1.25 times based on stabilized cash flows of leases in place, with some exceptions for national credit tenants. For adjustable rate loans, the Bank’s underwriting stresses debt service coverage to interest rate shocks of 400 basis points or higher based on a minimum of 1.0 times coverage and it uses loan maturities to manage risk based on the lease base and interest sensitivity. Loans at origination may be made up to 80% of appraised value based on property type and risk, with sublimits of 75% or less for designated industry types. Generally, commercial real estate loans are supported by full or partial personal guarantees by the principals.

The economic environment in 2023 was affected by higher interest rates as a result of federal monetary policy. An environment of higher interest rates can affect overall property values and operating debt service coverage across the spectrum of commercial real estate. Additionally, there have been changes in supply and demand factors in commercial real estate following the pandemic. Most prominently, metropolitan office properties have reported higher vacancy rates in many markets across the nation due to the shift towards work from home, with lower demand for office space in some markets. Loans that are scheduled to mature in the near term are being reviewed closely for risk to repayment or renewal.

The Company has a diversified commercial real estate portfolio primarily located in suburban markets in its footprint. As discussed in Item 7, the performance of the loan portfolio in 2023 generally improved and was well within the historic range at December 31, 2023. At year-end 2023, commercial real estate loans which were modified and experiencing financial difficulty were 0.33% of total commercial real estate loans. Loans rated substandard were 1.94% of commercial real estate loans, compared to 1.67% at year-end 2022. At year-end 2023, the largest components of the commercial real estate portfolio (over 5% of the portfolio and excluding construction) were retail trade (21%), multifamily (13%), office (11%), healthcare (9%), and hospitality (8%). The largest category, retail trade, was primarily comprised of properties anchored by strong grocery and big box tenants in suburban areas – with no significant tenant concentrations, and negligible indoor mall exposure. The $493 million office portfolio was approximately 66% composed of Class A properties and approximately 68% of the office portfolio was maturing after 2025. Boston properties were 13% of the office portfolio, with no high-rise office buildings. There were no charge-offs of office loans in 2023, and nonaccrual office loans were 0.7% of total office loans at December 31, 2023. Construction loans consisted primarily of multifamily (approximately 39%) and healthcare approximately (17%).

The Bank offers interest rate swaps to certain larger commercial mortgage borrowers. These swaps allow the Bank to originate a mortgage based on a floating rate of interest and allow the borrower to swap into a fixed rate. The Bank then concurrently enters into offsetting positions with third-party financial institutions. The Bank may record fee income associated with offering the interest rate swaps to its borrowers.

The Bank originates construction loans to developers and commercial borrowers in its footprint. The maximum loan to value limits for construction loans follow Federal Deposit Insurance Corporation ("FDIC") supervisory limits, up to a maximum of 85 percent. The Bank commits to provide the permanent mortgage financing on most of its
6

construction loans on income-producing property. Advances on construction loans are made in accordance with a schedule reflecting the cost of the improvements. Construction loans include land acquisition loans up to a maximum 50 percent loan to value on raw land. Construction loans may have greater credit risk due to the dependence on completion of construction and other real estate improvements, as well as the sale or rental of the improved property. The Bank generally mitigates these risks with presale or preleasing requirements and phasing of construction.
 
Commercial and Industrial Loans ("C&I"). C&I loans are mostly managed through the Bank’s commercial middle market banking organization, as well as its Asset Based Lending Group, its Small Business Banking Group, and 44 Business Capital. The Bank offers secured commercial term loans with repayment terms which are normally limited to the expected useful life of the asset being financed, and generally not exceeding ten years. The Bank also offers revolving loans, lines of credit, letters of credit, time notes and SBA guaranteed loans. Business lines of credit have interest rates that adjust, and are generally subject to annual review and renewal. Commercial and industrial loans are generally secured by a variety of collateral such as accounts receivable, inventory and equipment, and are generally supported by personal guarantees. Loan-to-value ratios depend on the collateral type and generally do not exceed 80 percent of orderly liquidation value or net book value as reported on the borrower’s financial statements. Some commercial loans may also be secured by liens on real estate. The Bank generally does not make unsecured commercial loans.

Commercial and industrial loans are of higher risk and are made primarily on the basis of the borrower’s ability to make repayment from the cash flows of its business. Further, any collateral securing such loans may depreciate over time, may be difficult to monitor and appraise and may fluctuate in value. The Bank gives additional consideration to the borrower’s credit history and the guarantor’s capacity to help mitigate these risks. Additionally, the Bank uses loan structures including shorter terms, amortizations, and advance rate limitations to additionally mitigate credit risk. Credit enhancements in the form of additional collateral or guarantees are normally considered for start-up businesses without a qualifying cash flow history.

The Company considers commercial and industrial loans, together with its owner-occupied commercial real estate loans, as constituting the primary relationship based component of its commercial lending activities. Commercial and industrial loans are commonly structured as variable rate loans, and are accordingly impacted by the recent environment of rising interest rates.

The Asset Based Lending Group serves the commercial middle market in New England, as well as the Bank’s market in northeastern New York and in the Mid-Atlantic. The group expands the Bank’s business lending offerings to include revolving lines of credit and term loans secured by accounts receivable, inventory, and other assets to manufacturers, distributors and select service companies experiencing seasonal working capital needs, rapid sales growth, a turnaround, buyout or recapitalization with credit needs generally ranging from $2 million to $25 million. Asset based lending involves monitoring loan collateral so that outstanding balances are properly margined by business asset collateral, which reduces the risks associated with these loans.

Small Business Banking Group handles most business relationships which are smaller than the middle market category. Additionally, some smaller business needs are handled through the Bank’s retail branch system. Berkshire Bank also owns Firestone Financial LLC. ("Firestone"), which originated loans secured by business-essential equipment throughout the U.S. Key customer segments included the fitness, carnival, gaming, and entertainment industries. The origination of loans by Firestone was terminated in mid-2022 and the remaining portfolio totaled $77 million at December 31, 2023.

44 Business Capital is a dedicated SBA 7A program lending team based in the Philadelphia area. This team originates loans in the Northeast, Mid-Atlantic and nationally. 44 Business Capital also works with business banking and small business teams to provide SBA guaranteed loans to Business Banking Customers in Berkshire’s footprint. This team generally sells the guaranteed portions of these loans with servicing retained and the Bank retains the unguaranteed portions of the loans in its C&I loan portfolio. The unguaranteed loan balances are participated pari-passu with the SBA and are generally collateralized and supported by recourse to business principals. The Bank is a preferred SBA lender and closely manages the servicing portfolio pursuant to SBA requirements. This team is the Bank’s largest source of commercial lending fee revenue. 44 Business Capital is one of the top 20 bank originators of SBA 7A loans in the U.S.

7

Residential Mortgages. Through its mortgage banking operations, the Bank offers fixed-rate and adjustable-rate residential mortgage loans to individuals with maturities of up to 30 years that are fully amortizing with monthly loan payments. The majority of loans have been originated for investment, although the Bank targets more held for sale originations in the future. The majority of mortgages originated in 2022 were jumbo mortgages exceeding the maximum amounts according to U.S. government sponsored enterprise guidelines and were viewed as generally consistent with secondary market guidelines for these loans. The Bank does not offer subprime mortgage lending programs. The Bank buys and sells seasoned mortgages primarily with smaller financial institutions operating in its markets.

Mortgage loan originations often include rate lock features intended to cover normal processing times. These rate locks introduce price risk into the Company’s operations and cause mortgage origination yields to lag market interest rates. The Bank does not offer interest-only or negative amortization mortgage loans. Adjustable rate mortgage loan interest rates may rise as interest rates rise, thereby increasing the potential for default. The Bank also originates construction loans which generally provide 15-month construction periods followed by a permanent mortgage loan, and follow the Bank’s normal mortgage underwriting guidelines. Mortgage banking also requires flexible and scalable operations due to the volatility of mortgage demand over time. Investor management is integral to maintaining the secondary market support that is a component for these operations.

Consumer Loans. The Bank’s consumer loans are centrally underwritten and processed by its experienced consumer lending team. The Bank engages in prime home equity lending, following its conforming mortgage underwriting guidelines with more streamlined verifications and documentation. Most of these outstanding loans are prime based home equity lines with a maximum combined loan-to-value of 85 percent. Home equity line credit risks include the risk that higher interest rates will affect repayment and possible compression of collateral coverage on second lien home equity lines. The Company exited its prime indirect auto originations business in 2019 and has a remaining portfolio in runoff. In late 2021, the Company expanded its consumer lending in its markets through a third party relationship with financial technology company Upstart which originates unsecured consumer loans through the internet using artificial intelligence technology in combination with the Bank’s underwriting criteria. The Bank suspended originating loans through this partnership in mid-2022 and the remaining portfolio totaled $90 million at December 31, 2023.
8


Maturity and Sensitivity of Loan Portfolio. The following table shows contractual final maturities of loans at year-end 2023. The contractual maturities do not reflect premiums, discounts, deferred costs, or prepayments.
 
Item 1 - Table 2A - Loan Contractual Maturity - Scheduled loan amortizations are not included in the maturities presented.
Contractual MaturityOne YearOne toFive to More Than 
(In thousands)or LessFive YearsFifteen YearsFifteen YearsTotal
Loans:
Construction$979 $471,837 $155,573 $11,982 $640,371 
Commercial multifamily564 184,183 412,290 2,108 599,145 
Commercial real estate owner occupied2,741 169,940 369,367 86,598 628,646 
Commercial real estate non-owner occupied34,626 1,336,589 1,193,906 41,288 2,606,409 
Commercial and industrial89,765 935,592 318,503 15,389 1,359,249 
Residential real estate237 24,570 205,675 2,529,830 2,760,312 
Home equity69 1,017 54,277 168,860 224,223 
Consumer other805 128,844 74,985 16,697 221,331 
Total$129,786 $3,252,572 $2,784,576 $2,872,752 $9,039,686 
 

Item 1 - Table 2B - Total loans due after one year as of December 31, 2023 - fixed and variable interest rates
(In thousands)Fixed Interest Rate Variable Interest RateTotal
Loans:
Construction$187,736 $451,656 $639,392 
Commercial multifamily129,014 469,567 598,581 
Commercial real estate owner occupied230,994 394,911 625,905 
Commercial real estate non-owner occupied1,070,743 1,501,040 2,571,783 
Commercial and industrial393,534 875,950 1,269,484 
Residential real estate1,813,349 946,726 2,760,075 
Home equity3,421 220,733 224,154 
Consumer other214,207 6,319 220,526 
Total$4,042,998 $4,866,902 $8,909,900 

Loan Administration. Lending activities are governed by a loan policy approved by the Board’s Risk Management, Capital, and Compliance Committee. Internal staff perform and monitor post-closing loan documentation review, quality control, and commercial loan administration. The lending staff assigns a risk rating to all commercial loans, excluding point scored small business loans. Management primarily relies on internal risk management staff to review the risk ratings of the majority of commercial loan balances.

The Bank’s lending activities follow written, non-discriminatory underwriting standards and loan origination procedures established by the Risk Management, Capital and Compliance Committee and Management, under the leadership of the Chief Risk Officer. The Bank’s loan underwriting is based on a review of certain factors including risk ratings, repayment capacity, recourse, loan-to-value ratios, and material policy exceptions. The Risk Management, Capital and Compliance Committee has established individual and combined loan limits and lending approval authorities. Management’s Executive Loan Committee is responsible for commercial loan approvals in accordance with these standards and procedures. Generally, pass rated secured commercial loans can be approved jointly up to $7 million by the business line Managing Director and Credit Director. Loans up to $12.5 million can be approved with the additional signature of the Chief Credit Officer. Loans in excess of this amount, and designated lower rated loans are approved by the Executive Loan Committee. The Bank tracks loan underwriting exceptions and exception reports are actively monitored by executive lending management.

9

In 2023, the Company's administrative monitoring of the commercial real estate portfolio, the largest segment of the loan portfolio, reflects its risk based focus. It reviewed the larger exposures of all commercial real estate loans maturing in the next five years, including reviewing debt service coverage. It has expanded its monitoring of portfolio-level lease expirations and continued its review of trends in commercial real estate appraisals. The monitoring of lease expirations was increased and the review of trends in commercial real estate appraisals was expanded. The Company is reviewing trends in large loan originations and increasing its monitoring of portfolio components and trends, with a focus on office loans and multifamily. Trends in lease maturities and renewals are updated periodically. Upcoming loan maturities and larger variable and adjustable rate loans are being monitored.

The Bank’s lending activities are conducted by its salaried and commissioned loan personnel. Designated salaried branch staff originate conforming residential mortgages and receive bonuses based on overall performance. Additionally, the Bank employs commissioned residential mortgage originators. Commercial lenders receive salaries and are eligible for bonuses based on individual and overall performance. The Bank purchases whole loans and participations in loans from banks headquartered in its market and from outside of its market. These loans are underwritten according to the Bank’s underwriting criteria and procedures and are generally serviced by the originating lender under terms of the applicable agreement. The Bank routinely sells newly originated, fixed-rate residential mortgages in the secondary market. Customer rate locks are offered without charge and rate locked applications are generally committed for forward sale or hedged with derivative financial instruments to minimize interest rate risk pending delivery of the loans to the investors. The Bank also sells interest rate derivatives to larger commercial borrowers desiring to fix their interest rates through interest rate swaps, and includes these derivatives in its underwriting and administrative procedures.

The Bank also sells residential mortgages and commercial loan participations on a non-recourse basis. The Bank issues loan commitments to its prospective borrowers conditioned on the occurrence of certain events. Loan origination commitments are made in writing on specified terms and conditions and are generally honored for up to 60 days from approval and may be honored for up to six months; some commercial commitments are made for longer terms. The Company also monitors pipelines of loan applications and has processes for issuing letters of interest for commercial loans and pre-approvals for residential mortgages, all of which are generally conditional on completion of underwriting prior to the issuance of formal commitments.

The loan policy sets certain limits on concentrations of credit and requires periodic reporting of concentrations to the Risk Management, Capital and Compliance Committee. The Bank has heightened monitoring of its 25 largest borrower relationships. Commercial real estate is generally managed within federal regulatory monitoring guidelines of 300% of risk based capital for non-owner occupied commercial real estate and 100% for construction loans. The Bank has hold limits for numerous categories of commercial specialty lending including healthcare, hospitality, designated franchises, and leasing, as well as hold limits for designated commercial loan participations purchased. In most cases, these limits are below 100% of risk based capital for all outstanding loans in each monitored category.

Problem Assets. The Bank prefers to work with borrowers to resolve problems rather than proceeding to foreclosure. For commercial loans, this may result in a period of forbearance or restructuring of the loan, which is normally done at current market terms and does not result in a “troubled” loan designation. For residential mortgage loans, the Bank generally follows FDIC guidelines to attempt a restructuring that will enable owner-occupants to remain in their home. However, if these processes fail to result in a performing loan, then the Bank generally will initiate foreclosure or other proceedings no later than the 90th day of a delinquency, as necessary, to minimize any potential loss. Management reports delinquent loans and non-performing assets to the Board quarterly. Loans are generally removed from accruing status when they reach 90 days delinquent, except for certain loans which are well secured and in the process of collection. The Company’s ongoing quarterly process of reviewing larger criticized loans evaluates risk ratings and accrual status based on updated information about loan performance and related risk management issues at the loan level. Loan collections are managed by a combination of the related business units and the Bank’s special assets group, which focuses on larger, riskier collections and the recovery of purchased credit deteriorated loans.

Real estate obtained by the Bank as a result of loan collections, including foreclosures, is classified as real estate owned until sold. When property is acquired it is recorded at fair market value less estimated selling costs at the date of foreclosure, establishing a new cost basis. Holding costs and decreases in fair value after acquisition are expensed.
10


Asset Classification and Delinquencies. The Bank performs an internal analysis of its commercial loan portfolio and assets to classify such loans and assets in a manner similar to that employed by federal banking regulators. There are four classifications for loans with higher than normal risk: Loss, Doubtful, Substandard, and Special Mention. Usually an asset classified as Loss is fully charged-off. Substandard assets have one or more defined weaknesses and are characterized by the distinct possibility that the insured institution will sustain some loss if the deficiencies are not corrected. Doubtful assets have the weaknesses of substandard assets with the additional characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions, and values questionable, and there is a high possibility of loss. Special mention are assets that do not currently expose the insured institution to sufficient risk to warrant classification in one of the aforementioned categories, but possess weaknesses. Please see the additional discussion of nonaccruing and potential problem loans in Item 7 and additional information in notes to the financial statements.

Allowance for Credit Losses on Loans. The Bank’s loan portfolio is regularly reviewed by management to evaluate the adequacy of the allowance for credit losses on loans. Management makes estimates of future economic conditions over the life of the loan portfolio and other future conditions and arrives at a reasonable estimate of expected loan losses. Different banks may use different estimates and arrive at different expectations, and therefore, comparisons between banks may be difficult. The accounting is based on future projections and our estimates may change significantly from period to period, and accordingly, the amounts of the allowance and provision may vary between periods. Further information about the allowance is discussed further in Note 1 - Summary of Significant Accounting Policies of the Consolidated Financial Statements.

Management believes that it uses the best information available to establish the allowance. However, future adjustments to the allowance for credit losses on loans may be necessary, and results of operations could be adversely affected if circumstances differ substantially from the assumptions used in making its determinations. There can be no assurance that the existing allowance for credit losses is adequate or that increases will not be necessary should the quality of any loan or loan portfolio category deteriorate. Regulatory agencies may require the Bank to make additional provisions for credit losses based upon judgments different from those of management. Any material increase in the allowance may adversely affect the Bank’s financial condition and results of operations.

Item 1 - Table 3 - Credit Quality Ratios
202320222021
Ratios:   
Allowance for credit losses on loans/total loans1.17 %1.15 %1.55 %
Nonaccrual loans/total loans
0.24 %0.37 %0.52 %
Allowance for credit losses/nonaccruing loans
492.47 %309.41 %300.33 %
Net charge-offs/average loans0.26 %0.27 %0.29 %

Item 1 - Table 3.a - Net charge-offs to average loans for each loan category
202320222021
Net charge-offs to average loans:
Construction— %— %— %
Commercial multifamily— — — 
Commercial real estate owner occupied(0.01)— 0.02 
Commercial real estate non-owner occupied— 0.06 0.17 
Commercial and industrial0.17 0.20 0.09 
Residential real estate— (0.01)— 
Home equity— — — 
Consumer other0.10 0.02 0.01 

11

The following tables present year-end data for the approximate allocation of the allowance for credit losses on loans by loan categories at the dates indicated (including an apportionment of any unallocated amount). The first table shows for each category the amount of the allowance allocated to that category as a percentage of the outstanding loans in that category. The second table shows the allocated allowance together with the percentage of loans in each category to total loans. Management believes that the allowance can be allocated by category only on an approximate basis. The allocation of the allowance to each category is not indicative of future losses and does not restrict the use of any of the allowance to absorb losses in any category.

Item 1 - Table 4A - Allocation of Allowance for Credit Losses on Loans by Category (as of year-end) 
 202320222021
(Dollars in thousands)Amount
Allocated
Percent  Allocated to Total Loans in Each CategoryAmount
Allocated
Percent  Allocated to Total Loans in Each CategoryAmount
Allocated
Percent  Allocated to Total Loans in Each Category
Construction$2,885 0.5 %$1,227 0.4 %$3,206 1.0 %
Commercial multifamily2,475 0.4 1,810 0.3 6,120 1.2 
Commercial real estate owner occupied9,443 1.5 10,739 1.7 12,752 2.1 
Commercial real estate non-owner occupied38,221 1.5 30,724 1.2 32,106 1.5 
Commercial and industrial18,602 1.4 18,743 1.3 22,584 1.8 
Residential real estate19,622 0.7 18,666 0.8 22,734 1.5 
Home equity2,015 0.9 2,173 1.0 4,006 1.6 
Consumer other12,094 5.5 12,188 4.5 2,586 1.3 
Total$105,357 1.2 %$96,270 1.2 %$106,094 1.6 %

Item 1 - Table 4B - Allocation of Allowance for Credit Losses on Loans (as of year-end)
 202320222021
(Dollars in thousands)Amount
Allocated
Percent 
of
Loans in
Each
Category to Total
Loans
Amount
Allocated
Percent 
of
Loans in
Each
Category to Total
Loans
Amount
Allocated
Percent 
of
Loans in
Each
Category to Total
Loans
Construction$2,885 7.1 %$1,227 3.8 %$3,206 4.8 %
Commercial multifamily2,475 6.6 1,810 7.4 6,120 7.5 
Commercial real estate owner occupied9,443 7.0 10,739 7.7 12,752 8.9 
Commercial real estate non-owner occupied38,221 28.8 30,724 30.0 32,106 31.6 
Commercial and industrial18,602 15.0 18,743 17.4 22,584 18.8 
Residential real estate19,622 30.5 18,666 27.7 22,734 21.8 
Home equity2,015 2.5 2,173 2.7 4,006 3.7 
Consumer other12,094 2.5 12,188 3.3 2,586 2.9 
Total$105,357 100.0 %$96,270 100.0 %$106,094 100.0 %

12

INVESTMENT SECURITIES ACTIVITIES
The securities portfolio provides a source of liquidity, income and interest rate risk management. Decisions are made in accordance with the Company’s investment policy which is reviewed and approved by the Board and includes consideration of risk, return, duration, and portfolio concentrations.

The Company has historically maintained a high-quality portfolio of managed duration residential and commercial mortgage-backed securities, together with a portfolio of state and municipal bonds and obligations of national and local issuers. All of the mortgage-backed securities are issued by Fannie Mae, Ginnie Mae, or Freddie Mac. The Company generally designates debt securities as available for sale, but sometimes designates securities as held to maturity based on its intent. The Company periodically invests in corporate bonds, investment grade and non-rated fixed-income capital instruments issued by local and regional financial institutions, and funds financing community reinvestment projects.

Due to elevated market interest rates, the net fair value of the investment securities portfolio was below amortized costs at year-end 2023. Please see Note 4 – Securities in the financial statement for more information. The Company’s ability and intent to hold the portfolio at year-end 2023 was consistent with its liquidity and capital resources as discussed in Item 7 of this report.

The following table summarizes year-end 2023 amortized cost, weighted average yields, and contractual maturities of debt securities. Yields are shown on a fully taxable-equivalent basis and are based on amortized cost. A proportion of the mortgage-backed securities are planned amortization class bonds. The contractual maturities of mortgage-backed securities shown below reflect the maturities of the underlying mortgage collateral based on final maturities and do not include scheduled amortization. Yields include amortization and accretion of premiums and discounts.

Item 1 - Table 5 - Weighted Average Yield
 One Year or LessMore than One
Year to Five Years
More than Five Years
to Ten Years
More than Ten YearsTotal
(In millions)Amortized
Cost
Weighted
Average
Yield
Amortized
Cost
Weighted
Average
Yield
Amortized
Cost
Weighted
Average
Yield
Amortized
Cost
Weighted
Average
Yield
Amortized
Cost
Weighted
Average
Yield
Municipal bonds and obligations$0.7 6.5 %$6.9 4.3 %$53.6 4.8 %$254.6 4.0 %$315.8 4.2 %
Mortgage-backed securities— — %18.3 2.2 %94.1 2.1 %1,272.6 1.6 %1,385.0 1.7 %
Other bonds and obligations8.0 1.0 %6.1 8.6 %38.2 4.3 %1.5 5.0 %53.8 4.3 %
Total$8.7 1.4 %$31.3 3.9 %$185.9 3.3 %$1,528.7 2.0 %$1,754.6 2.2 %



13

DEPOSIT ACTIVITIES AND OTHER SOURCES OF FUNDS
Deposits are the major source of funds for the Bank’s lending and investment activities. The Bank serves personal, commercial, non-profit, and municipal deposit customers. The Bank offers a wide variety of deposit accounts with a range of interest rates and terms. The Bank may also periodically offer promotional interest rates and terms for limited periods of time. The Bank’s deposit accounts consist of demand deposits (non-interest-bearing checking), NOW (interest-bearing checking), regular savings, money market savings, and time certificates of deposit. Additionally, the Bank offers a variety of retirement deposit accounts to personal and business customers.

The Bank emphasizes its transaction deposits – checking and NOW accounts – for personal accounts and checking accounts promoted to businesses. These accounts have the lowest marginal cost to the Bank and are also often a core account for a customer relationship. The Bank offers a courtesy overdraft program to improve customer service, and also provides debit cards and other electronic fee producing payment services to transaction account customers. The Bank offers targeted online and mobile deposit account opening capabilities for personal accounts. The Bank promotes remote deposit capture devices so that commercial accounts can make deposits from their place of business.

Deposit related fees include overdraft fees, interchange fees related to debit card usage, service charges, and other miscellaneous transactions and convenience services sold to customers through the branch system as part of an overall service relationship. The Bank offers compensating balance arrangements for larger business customers as an alternative to fees charged for checking account services.

In addition to providing service through its branches, Berkshire provides services to deposit customers through its private bankers, MyBankers, commercial/small business relationship managers, and call center representatives. Commercial cash management services are an important commercial service offered to commercial and governmental depositors and a fee income source to the bank. The Bank also operates a commercial payment processing business that serves regional and national payroll service bureau customers. These payroll deposits often fluctuate daily by hundreds of millions of dollars depending on payroll cycles.

Online banking and mobile banking functionality is increasingly important as a component of deposit account access and service delivery. The Bank has partnered with a third party fintech company to provide enhanced online deposit account opening services and new online and mobile banking platform developed in partnership with this provider as an important milestone in its DigitouchSM strategy. The Company also is monitoring the development of payment services which are growing in their importance in the personal and commercial deposit markets.
14


The following table presents information concerning average balances and weighted average interest rates on the Bank’s interest-bearing deposit accounts for the years indicated.

Item 1 - Table 6 - Average Balance and Weighted Average Rates for Deposits
 202320222021
(In millions)Average
Balance
Percent
of Total
Average
Deposits
Weighted
Average
Rate
Average
Balance
Percent
of Total
Average
Deposits
Weighted
Average
Rate
Average
Balance
Percent
of Total
Average
Deposits
Weighted
Average
Rate
Demand$2,584.6 27 %— %$2,914.9 30 %— %$3,008.5 30 %— %
NOW and other1,048.9 11 0.6 1,416.7 14 0.4 976.4 10 0.1 
Money market2,727.3 28 3.4 2,809.1 29 0.5 3,293.5 32 0.2 
Savings1,067.2 11 1.0 1,114.8 11 0.1 1,111.6 11 0.1 
Time2,275.8 23 4.0 1,541.7 16 0.9 1,678.9 17 0.9 
Total$9,703.8 100 %2.4 %$9,797.2 100 %0.9 %$10,068.9 100 %0.3 %

Estimated uninsured deposits were $4.6 billion and $3.8 billion at December 31, 2023 and 2022, respectively. Estimated uninsured deposits are based on the same methodologies and assumptions used for the Bank's regulatory reporting requirements. Estimated uninsured deposits adjusted to exclude internal accounts and collateralized deposits were $3.7 billion and $3.2 billion at December 31, 2023 and 2022, respectively. At year-end 2023, time deposits in excess of the FDIC insurance limit and estimated time deposits that are otherwise uninsured by maturity were as follows:
 
Item 1 - Table 7 - Maturity of Deposits >$250,000
Maturity PeriodTime Deposits that
Meet or Exceed the
FDIC Insurance
Limit
Estimated Portion of Time Deposits in Excess of the FDIC Insurance Limit
Estimated Aggregate
Time Deposits in Excess of the
FDIC Insurance
Limit and Otherwise
Uninsured Time
Deposits
(In thousands) 
Three months or less$278,710 $63,112 $63,112 
Over 3 months through 6 months195,852 67,987 67,987 
Over 6 months through 12 months147,777 58,407 58,407 
Over 12 months62,825 17,620 17,620 
Total$685,164 $207,126 $207,126 
 
The Bank’s deposits are insured by the FDIC. The Bank utilizes brokered certificates of deposits (CDs) to diversify its funding base, augment its interest rate risk management positioning, and to support loan growth. Brokered CDs are sourced through select approved brokers and are managed as a component of the Bank's Liquidity Policy. The Bank also offers brokered reciprocal money market arrangements to provide additional deposit protection to certain large commercial and institutional accounts. These balances are viewed as part of overall relationship balances with regional customers.

The Bank is a member of the Federal Home Loan Bank (‘‘FHLB’’) of Boston, which provides a source of funding for member institutions and is a tool to manage liquidity and interest rate risk. The Bank is subject to the rules and requirements of the FHLB, including the requirement to acquire and hold shares of capital stock in the FHLB. The Bank was in compliance with FHLB rules and requirements as of December 31, 2023. The Bank also has access to borrowings from the Federal Reserve Bank of Boston.

The Company had $100 million in subordinated notes, a $15 million trust preferred obligation and a $7 million trust preferred obligation outstanding at year-end 2023. The Company’s common stock is listed on the New York Stock Exchange under the ticker “BHLB”. Subject to certain limitations, the Company can also choose to issue common stock, preferred stock, subordinated debt, or senior debt in public stock offerings or private placements. The Company maintains a shelf registration as part of its routine capital management.
15

DERIVATIVE FINANCIAL INSTRUMENTS
The Company offers interest rate swaps to commercial loan customers who wish to fix the interest rate on their loans, and concurrently enters into offsetting positions with third-party financial institutions. The Company may also enter into risk participation agreements with other lending institutions for customer related positions. On a limited basis, the Company offers foreign exchange services to customers on both a spot and forward basis. The Company may also use derivative financial instruments to manage its interest rate risk associated with the Company’s loan portfolios and borrowings. All derivative financial instruments eligible for clearing are cleared through the Chicago Mercantile Exchange (“CME”).

WEALTH MANAGEMENT SERVICES
The Company’s Wealth Management Group provides consultative investment management, trust administration, and financial planning to individuals, businesses, and institutions, with an emphasis on personal investment management. The Wealth Management Group has built a track record over more than a decade with its dedicated in-house investment management team. The Bank also provides a full line of investment products, financial planning, and brokerage services through BerkshireBanc Investment Services utilizing Commonwealth Financial Network as the broker/dealer. The Bank is integrating with its growing private banking and MyBanker teams to further develop wealth management account generation. The Wealth Management Group reported $1.4 billion in total assets under management at year-end 2023.

HUMAN CAPITAL MANAGEMENT
Berkshire’s people are the driving force behind its progress on its strategic goals, ability to deliver tailored financial solutions for its clients and vision to be a high-performing, relationship-focused, community-driven bank. The Company’s approach to human capital management is grounded in its corporate values, business strategy and focuses on:
Strong oversight and risk management practices
Recruitment
Compensation & Benefits
Training, Development, Engagement & Retention
Health & Wellness

OVERSIGHT
The Board of Directors has ultimate responsibility for the strategy of the Company. The Compensation Committee of the Board of Directors oversees executive compensation matters and the Corporate Responsibility & Culture committee oversees company culture as well as diversity, equity and inclusion. The full Board also receives an annual briefing on employee engagement. The SEVP, Chief Human Resources & Culture Officer provides management oversight on human capital matters. The Company proactively identifies potential human capital related risks, such as the labor market shortage, skills gap, rising labor and health care costs, and employee retention and designs strategies to mitigate those risks. Strong human capital management is viewed as integral to the Company's ability to meet its strategic objectives, deliver a superior client experience and drive sustainable shareholder returns.

RECRUITMENT
Berkshire operates in a highly competitive labor market with strong competition for top talent. The Company relies on and continues to recruit employees with the right mix of skills, expertise and experiences. The Company forecasts its hiring needs based on attrition, skills assessments, market conditions, resource availability and strategic objectives. This helps inform corporate strategies to fill current and future open positions. The Company leverages several strategies to support its talent pipeline and talent acquisition activities including formal advertising, postings on targeted career sites, career events, internship placements, affinity group relationships, and the use of experienced external recruiters for key management and specialized positions. Berkshire also maintains a small internal team of talent recruitment professionals.


16

Berkshire maintains a hybrid work model to expand its access to top talent and provide its employees with workplace flexibility. These strategies have proved effective in meeting the demand for talent demonstrated by the Company’s strong track record of attracting high-caliber talent across retail, commercial, private banking, wealth management, business banking, technology and operational areas. In addition, as market disruptions from mergers remain and macroeconomic pressures impact many companies, Berkshire will continue to leverage its differentiated brand and unique market positioning to hire community-focused bankers from its competitors and attract high-performing operational talent from outside the industry.

COMPENSATION & BENEFITS
A highly competitive labor market along with inflationary and macroeconomic pressures has impacted labor costs for all businesses. Berkshire is not immune to these economic pressures. The Company continually evaluates its compensation strategies and benefits programs, benchmarks to industry and peers and surveys the landscape of best practices to develop compensation and benefits packages that reward performance and retain top talent at all levels of the Company. Against this backdrop, Berkshire raised the minimum starting pay to $17/hour and enhanced its vacation, wellness and bereavement benefits. It also restructured its incentive plans across lines of business to provide opportunities for employees to earn higher compensation and bonuses for strong performance aligned with Berkshire’s financial and non-financial objectives.

Berkshire provides comprehensive medical coverage, paid vacation, personal and sick time, paid protective leave for gender-based violence, a 401(k) plan with employer match, long-term disability insurance, and group term life insurance. In addition, Berkshire offers a day care reimbursement program, a dependent care expense account, family and medical leave along with flexible work arrangements, including the ability to work fully remote dependent on the duties of one’s job. All benefits are available to married same-sex or different-sex couples as well as domestic partners. In addition to its compensation and health benefits, Berkshire offers volunteer-time off, a matching-gift program, an employee assistance program, regular performance reviews, professional development and the You FIRST Fund to help employees impacted by personal financial hardships. Nearly 100% (99.6%) of employees are eligible for benefits.

TRAINING, DEVELOPMENT, ENGAGEMENT & RETENTION
Training and development programs provide employees with the knowledge and skills needed to succeed and have upward career mobility. They are critical components, along with competitive compensation and benefits programs, to having an engaged workforce. Ultimately an engaged workforce drives high levels of productivity and retention which reduces human capital risks, expense, and advances Berkshire’s progress and performance.

The Company provides several learning and training programs consistent with one’s job responsibilities, professional goals, and development plans. Employees have regular performance assessments to identify strengths, areas for further growth and career interests. Berkshire continues to reskill and upskill employees from across the Company helping them advance along career paths by taking on expanded responsibilities and roles. The Company offers a mentoring program for high potential employees along with development programs as Berkshire remains committed to providing pathways for its associates to grow and maintains succession plans for key leadership positions.

Berkshire encourages its employees to participate in appropriate educational opportunities to expand their professional experience, aid them in their current position or support their self-development to benefit both the employee and Company. As such, the Company offers educational assistance along with access to formal degree and certification programs, including college courses and Center for Financial Training (CFT) programs.

Berkshire continues to monitor the progress of its efforts to evaluate the effectiveness of programs and strategies on retention and engagement. A comprehensive annual employee engagement survey is conducted to identify strengths and opportunity areas within the organization. Overall, employees felt there was a strong spirit of teamwork, that Berkshire genuinely cares for its communities, and they have strong relationships with their direct managers. Actions plans are developed for areas identified in the survey that do not meet the Company’s high expectations. Beyond a formal engagement survey, Berkshire provides regular opportunities for managers and employees to ask questions, raise concerns and make suggestions for ways to build a better and stronger company. This includes regular quarterly employee town halls and leadership forums, an employee suggestion program and regional gatherings that provide employees with direct access to Company leaders.

17

Berkshire continues to make progress reducing turnover, which decreased year-over-year. This progress is the direct result of the actions it has taken to improve engagement and combat turnover including:
Launched Company-wide reward and recognition program
Enhanced vacation benefit
Introduced wellness day
Enhanced line of business incentive plans
Established career paths for various job families
Increased starting wage
Offered mentoring program
Developed robust employee communications program
New employee events

Collectively these efforts have led to improved retention in each of the last three years, record high employee engagement and being named a Forbes America’s Best Midsize Employers.

HEALTH & WELLNESS
Berkshire works hard to keep its employees safe, healthy and support their physical, mental and financial wellbeing. It provides its workforce comprehensive programs, benefits and a health and wellness employee resource group. The Company also creates a workplace environment that is accessible and free from occupational hazards. The Company, through its insurance provider, offers a fitness, weight and mind/body reimbursement along with a year-round calendar of various wellness related activities. Since physical and mental health go hand-in-hand with financial health, Berkshire provides access to financial education resources, webinars along with its You FIRST Fund to assist employees experiencing financial hardships.

Additionally, Berkshire provides a comprehensive employee assistance program which includes counseling services and resources for those experiencing mental health challenges. To further support the needs of its workforce, employees have access to a wellness day to disconnect, recharge and take care of themselves in whatever way works best for them. The Health & Wellness Employee Resource Group provides yet another channel for employees to participate in regular programming and advocate for health and wellness options that suit their needs and interests.

WORKPLACE OF THE FUTURE
Berkshire continues to evolve and enhance its human capital management strategies to drive organizational growth in support of strategic priorities while combating risks, such as the labor market shortage, skills gap and rising labor and health costs. The Company expects to maintain its hybrid workplace over the long-term, invest in technology to streamline processes and ensure the workforce structure is aligned with the Company’s forward operating needs. While technology continues to play a bigger role in the future of Berkshire, helping to improve processes and drive efficiencies, people will always be at the core of its ability to deliver expert advisement and tailored solutions to its clients which in turn drives value for its shareholders and communities. The Company remains confident that the Berkshire brand, value proposition and vision will continue to be a differentiator in the market.

SELECT HUMAN CAPITAL METRICS

† Human Capital*
       †    Total number of FTEs
1340
       †    Turnover Rate
21%
       †    Retention Rate
79%
       †    Promotion Rate
11%
       †    Minimum Starting Pay
$17/hour
       †    Average Tenure (years)7 years
*All metrics reported are as of and for the year-ended December 31, 2023.


18

DIVERSITY, EQUITY & INCLUSION ("DEI")
Creating a diverse, accessible, inclusive and equitable workplace is an essential enabler to advancing the Company’s strategic goals, social and environmental commitments and vision. Ultimately Berkshire’s goal is to attract and retain individuals from a wide range of backgrounds, cultures and experiences so that the workforce, executives and board composition reflect the diversity of the communities in which it operates. It also seeks to ensure equity, accessibility, fairness and impartiality in all aspects of the Company’s workplace, banking practices and financial solutions while fostering an inclusive environment where all employees feel valued, respected and empowered.

The Company advances those goals through an integrated approach that includes:
Strong oversight and governance practices
Talent management and recruitment
Education and training
Workplace programming
Multicultural community engagement
Equitable product and service development
Supplier diversity

The Company has a strong foundation of governance practices to ensure that diversity, equity and inclusion is embedded into Berkshire’s business activities. This includes the Corporate Responsibility & Culture Committee of the Board of Directors which oversees DEI performance. Berkshire’s Diversity, Equity & Inclusion Committee, which reports into the Board committee, provides additional management level oversight to the Company’s programming and performance. The Senior Vice President, Chief Diversity Officer leads and executes the Company’s DEI programming.

Berkshire continues working to improve representation within its workplace through recruitment initiatives while enhancing its internal talent pipeline to ensure representation at all levels of the Company. Berkshire identifies opportunities in targeted markets and business lines, develops deeper partnerships with non-profit organizations and affinity groups, advertises positions on specialized career sites, participates in affinity career events and uses internal as well as external recruitment professionals to ensure it receives candidate pools that reflect the rural and urban communities in which it operates. It works to develop and implement strategies aimed at increasing representation at each level of the Company. In addition, the Company regularly reviews the gender and ethnic diversity of its workforce at the employee, manager and executive management level and completes a review of pay and performance measures to ensure that all employees, regardless of gender and ethnicity, in comparable roles are compensated equitably. As a result of Berkshire’s intentional and impactful efforts to date, Berkshire was listed in the Bloomberg Gender Equality Index and Human Rights Campaign’s Corporate Equality Index.

    † Diversity, Equity & Inclusion*
    † Percent of workforce comprised of women
66 %
    † Percent of workforce comprised of ethnic minorities
16 %
    † Percent of the Board comprised of women
38 %
    † Percent of the Board comprised of ethnic minorities
31 %
    † Percent of manager roles (officer+) comprised of women
55 %
    † Percent of manager roles (officer+) comprised of ethnic minorities
12 %
    † Percent of executive management roles comprised of women
29 %
    † Percent of executive management roles comprised of ethnic minorities
14 %
*Workforce metrics reported are as of December 31, 2023.

Berkshire provides a full suite of diversity, equity & inclusion trainings. The trainings help build understanding and provide employees with knowledge, skills and tactics they can put into practice. All employees complete training annually through a combination of required and elective DEI-themed courses. Berkshire intends to enhance its training program in 2024 to deepen alignment with corporate goals. The training programs help form the basis for more inclusive recruitment, hiring, retention and customer service strategies going forward. In addition, Berkshire offers six Employee Resource Groups ("ERGs"), each playing an integral role for employees and the culture of the company. Every Employee Resource Group provides a safe space for dialogue, education, programming and
19

collective action on topics relevant to their members and the Company. Through the ERGs, employees’ concerns and ideas to strengthen Berkshire’s culture are elevated to members of management and the Diversity, Equity & Inclusion Committee for action, empowering employees to collectively be engines of positive change within the workplace and the broader community.

The Company continues to work toward building economic equity in its communities by developing and offering safe, accessible, affordable financial solutions and programs including its MyFreedom Checking account, nationally certified by BankOn for its affordability, and the Futures Fund. The Futures Fund is a special purpose credit program which provides access to a low-interest, low barrier to entry line of credit in collaboration with non-profit partners who provide wrap around technical assistance to minority, LGBTQIA+ and other businesses owned by underrepresented individuals. Since launching the program in 2020, it has deployed nearly $1.7 million to underrepresented business owners. Beyond offering financial solutions and wellness programming, Berkshire also understands that a diverse third-party base is important to achieving its operational goals, supply chain resilience, and vision. As a result, Berkshire works to maintain a third-party base that reflects the communities in which it operates and, to the maximum extent possible, increase the utilization of third parties owned by underrepresented people.

Additional information on Berkshire’s Human Capital Management and Diversity, Equity & Inclusion practices can be found in the Company’s annual Corporate Responsibility & Sustainability Report, which details the company's environmental, social and governance programs.

SUBSIDIARY ACTIVITIES
The Company wholly-owns Berkshire Bank. The Bank operates as a commercial bank under a Massachusetts trust company charter. Berkshire Bank owns Firestone Financial, LLC which is a Massachusetts limited liability company, as well as consolidated subsidiaries operated as Massachusetts securities corporations and other subsidiary entities. The Company also owns all of the common stock of Delaware statutory business trusts, Berkshire Hills Capital Trust I and SI Capital Trust II. The capital trusts are unconsolidated and their only material assets are trust preferred securities related to the junior subordinated debentures reported in the Company’s Consolidated Financial Statements. Additional information about the subsidiaries is contained in Exhibit 21 to this report.

REGULATION AND SUPERVISION
The Company is a Delaware corporation and a bank holding company that has elected financial holding company status within the meaning of the Bank Holding Company Act of 1956, as amended. It is registered with, supervised by and required to comply with the rules and regulations of the Federal Reserve Board. The Federal Reserve Board requires the Company to file various reports and also conducts examinations of the Company. The Company must receive the approval of the Federal Reserve Board to engage in certain transactions, such as acquisitions of additional banks and savings associations, and the Company must seek nonobjection for various capital actions, including stock repurchases.

The Bank is a Massachusetts-chartered trust company and its deposits are insured up to applicable limits by the FDIC. The Bank is subject to extensive regulation by the Massachusetts Commissioner of Banks (the “Commissioner”), as its chartering agency, and by the FDIC, as its deposit insurer. The Bank is required to file reports with the Commissioner and the FDIC concerning its activities and financial condition in addition to obtaining regulatory approvals prior to entering into certain transactions such as mergers with, or acquisitions of, other depository institutions or branches of other institutions. Under specified conditions, the Bank must also seek regulatory approval of capital distributions to the Company, its sole shareholder.

The Commissioner and the FDIC conduct periodic examinations to test the Bank’s safety and soundness and compliance with various regulatory requirements. The regulatory structure gives the regulatory authorities extensive discretion in connection with supervisory and enforcement activities and examination policies, including policies with respect to the classification of assets and the establishment of adequate loan loss reserves for regulatory purposes. Any change in such regulatory requirements and policies, whether by the Commissioner, the Massachusetts legislature, the FDIC, the Federal Reserve Board, or Congress, could have a material adverse impact on the Company, the Bank, and their operations.


20

Certain regulatory requirements applicable to the Company and the Bank are referred to below. The description of statutory provisions and regulations applicable to financial institutions and their holding companies set forth in this Form 10-K does not purport to be a complete description of such statutes and regulations and their effects on the Company and the Bank and is qualified in its entirety by reference to the actual laws and regulations. A summary of the regulatory requirements referred to below is as follows:
Massachusetts Banking Laws and Supervision        
Federal Banking Regulations
Enforcement
Holding Company Regulation
Mergers and Acquisitions
Other Regulations