Legacy Of Rome
Berkshire core earnings
Berkshire Hills Bancorp, which acquired Rome Bancorp on April 1, reported a 40 percent increase in core earnings for the second quarter compared to 2010.
Berkshire has offices in Rome, Lee and New Hartford.
Earnings of 35 cents per share increased by 40 percent compared to 25 cents in the second quarter of 2010.
In addition to taking over Rome Savings Bank locations, Berkshire also acquired Legacy Bancorp in the second quarter, though that will not be reflected in financial results until the third quarter.
Including the Legacy acquisition, Berkshire’s total assets have grown by more than 40 percent this year to over $4 billion, and Berkshire’s total shares have increased by about 50 percent to approximately 21.1 million.
Berkshire President and CEO Michael P. Daly stated: "Our solid core earnings growth reflects strong organic growth and sensible bank acquisitions that are improving the strength of our franchise and shareholder value. We have completed the Rome and Legacy acquisitions as planned. We fully expect to achieve the cost savings and earnings targets that we have previously set out for these mergers and for our overall operations, and we are also benefiting from a higher net interest margin. Our tangible book value per share at mid-year improved from where it was before we announced these acquisitions, reflecting our financial disciplines to produce strong earnings accretion while carefully managing any impact on tangible equity."
Daly added: "All major business lines produced solid organic growth in the second quarter. Growth has been led by the commercial lending teams recruited in recent years, as Berkshire continues to increase its market share in supporting business activity in our regional markets. Our annualized organic core earnings per share growth continues to exceed 25 percent. Our core return on assets has increased by 41 percent over 2010, and we are moving strongly towards our medium term goal to produce an annualized return on assets exceeding 1 percent. For the quarter, our marginal core return on equity exceeded 10 percent on the additional capital that we utilized in the second quarter, which is consistent with our investment objectives."
The Board of Directors declared a dividend of 16 cents per share to stockholders of record at the close of business on Aug. 11, payable on Aug. 25.
Legacy Of Rome - News
We have completed the Rome and Legacy acquisitions as planned. We fully expect to achieve the cost savings and earnings targets that we have previously set out for these mergers and for our overall operations, and we are also benefiting from a higher
Portugal's religious legacy in India is the Roman Catholic church and a patron saint called Francis Xavier whose mummified body is preserved in Bom Jesu. A few Goans managed to get Portuguese passports to obtain the benefits of employment in the
Now Dr. Harbin has returned to Rome to begin her pediatric practice and the next chapter of her life. That brings with it a lot of meaning, since she is a fifth-generation physician who bears a name and legacy associated with Rome's health care
Berlusconi said at a press conference in Rome. He said he had spoken with other European leaders, including German Chancellor Angela Merkel, and proceed to outline what Italy plans to do. Italy's heavy public debt load is a legacy from the past,
Those thuggish worshippers of an idealised history seemed less than bothered about the state of its physical legacy. As always in Rome – and Italy – past and present, art and politics, inherited glory and contemporary strife, proved indivisible.
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