Berkshire Hills Bancorp, Inc. (BHLB): Business Model Canvas [Dec-2025 Updated]

You're looking at Berkshire Hills Bancorp, Inc. right after a major move-the Brookline Bancorp merger-and wondering how the pieces fit together now that they command a combined franchise of approximately $24 billion in assets. Honestly, mapping out their new strategy means looking past the headlines to see how they plan to turn that integration into real shareholder value, especially with a targeted efficiency ratio of 56.7% in the works for their Q2 2025 operating model. I've broken down their entire operating blueprint, from key activities like executing the merger to achieve 12.6% cost savings, to their core value propositions, so you can see the precise mechanics of this newly combined regional bank. Dive in below to see the full Business Model Canvas.

Berkshire Hills Bancorp, Inc. (BHLB) - Canvas Business Model: Key Partnerships

You're looking at the key relationships that support the combined entity, Beacon Financial Corporation, following the transformative merger. This section details the strategic alliances that underpin operations, technology, and community standing as of late 2025.

Brookline Bancorp, Inc. for the transformative Merger of Equals

The merger of equals between Berkshire Hills Bancorp, Inc. and Brookline Bancorp, Inc. finalized on September 1, 2025, creating Beacon Financial Corporation, the parent company of Beacon Bank & Trust (commonly Beacon Bank). This partnership was designed to create a stronger financial institution with enhanced products and resources across the Northeast.

Here are the key metrics defining the scale of this partnership as of the closing date:

Metric	Value
Combined Assets	$24 billion
Total Branch Offices	More than 145
Geographic Footprint	New England and New York
Post-Merger NYSE Ticker	BBT
Banking Systems Integration Target	Early February 2026

The legacy banks-Berkshire Bank, Brookline Bank, Bank Rhode Island, and PCSB Bank-continue to operate as divisions of Beacon Bank & Trust until the system integration is complete.

FinTech and Sales Partners for API-enabled integrations

To maintain a tech-forward approach and deliver an exceptional digital experience, the combined entity relies on partnerships with specialized technology firms. This strategy aims to embed best-in-class services directly into the banking platform using Application Programming Interfaces (APIs).

Known FinTech relationships include:

• Partnered with Upstart to find potential borrowers outside of pristine credit profiles.
• Expanded partnership with Narmi to power new consumer and small business mobile app and online banking sites.

Industry-wide data suggests the value of such ecosystem thinking; institutions implementing open banking APIs have reported a 31% increase in customer acquisition through fintech API integration and a 27% reduction in onboarding costs via automated banking APIs, according to the Open Banking Impact Report 2024.

Secondary market participants for loan sales

The institution routinely engages with secondary market participants to manage its loan portfolio, particularly for newly originated residential mortgage loans and SBA guaranteed business loans. This practice helps manage balance sheet risk and capital requirements.

While specific 2025 secondary market participants are not detailed, pre-merger activity shows the scale of assets moved. The sale of 10 upstate and eastern New York branches in Q3 2024 included the transfer of approximately $60.5 million of related residential mortgage and consumer loans.

The ability to maintain seller/servicer relationships with government agencies like Fannie Mae, Freddie Mac, and Ginnie Mae is crucial, as these agencies govern the market for conforming loans, which comprise the majority of the mortgage lending originations income.

Community organizations for 'Socially Responsible Community Bank' initiatives

The commitment to being a socially responsible community bank is operationalized through the Berkshire Bank Foundation and various lending/investment programs. The pre-merger entity, Berkshire Bank, completed its multi-year Community Comeback program by exceeding its $5 billion lending and investment goal as of year-end 2024.

The foundation's recent giving demonstrates ongoing partnership with local nonprofits:

Period	Investment Amount	Nonprofits Supported (Approximate)
Full Year 2024	More than $1.7 million	Nearly 400
Q1 2025	More than $400,000	118
Q2 2025	Nearly $400,000	100

Key components of the completed Community Comeback program included lending more than $3.5 billion to invest in low- to moderate-income neighborhoods and more than $600 million in lending for low-carbon projects.

Berkshire Hills Bancorp, Inc. (BHLB) - Canvas Business Model: Key Activities

You're looking at the core actions Berkshire Hills Bancorp, Inc. (BHLB) is driving right now, especially as they finalize a major integration. These aren't just goals; these are the numbers they are hitting as of late 2025.

Executing the merger integration to achieve 12.6% cost savings

The integration planning for the Merger of Equals with Brookline Bancorp is ongoing, with an anticipated closing in the second half of 2025, targeting a February 2026 core systems conversion. Berkshire Hills Bancorp has identified a cost savings target of 12.6% of the combined company's expense base. This is projected to translate to annual cost synergies of $65-$70 million through operational consolidation and technology integration. The company is also managing one-time pre-tax merger expenses, which were anticipated to be $93 million.

Commercial and Industrial (C&I) loan origination and growth

Loan growth remains a focus, with average loans increasing by 1% quarter-over-quarter in the second quarter of 2025. This growth was specifically led by the Commercial and Industrial (C&I) segment, which saw an increase of $56 million, representing 4% growth in Q2 2025. The trajectory on new originations is described as strong, even while maintaining credit standards.

Managing a digital deposit program, which has secured over $100 million in new deposits

The focus on digital funding sources is paying off. The digital deposits offering has gained momentum, securing program-to-date deposits that have crossed $100 million since its inception earlier in 2025. This is supported by new digital tools, such as a direct deposit switching service unveiled in February 2025, which simplifies rerouting payroll to Berkshire Bank accounts in seconds.

Disciplined credit risk management, maintaining non-performing loans at 0.27% of total loans

Credit quality metrics show a tight grip on risk. Non-performing loans (NPLs) were reported at 0.27% of total loans as of June 30, 2025. This is a slight increase from the 0.26% reported at year-end 2024. The allowance for credit losses (ACL) coverage against these NPLs was robust, reaching 462% in Q2 2025.

Ongoing expense optimization initiatives to improve efficiency

Expense management is a key activity, evident in the year-over-year reduction in operating expenses. Operating expenses were down 7% year-over-year in the second quarter of 2025. This discipline drove the efficiency ratio to 56.7% for Q2 2025.

Here's a quick look at how efficiency and credit quality stacked up in Q2 2025:

Metric	Value (Q2 2025)	Comparison/Context
Efficiency Ratio	56.7%	Improved from 59.5% linked quarter
Operating Expenses (YoY Change)	Down 7%	Reflecting broad-based cost control
Non-Performing Loans / Total Loans	0.27%	Comparable to 0.26% at year-end 2024
Allowance for Credit Losses / NPLs	462%	Indicates strong reserve coverage
C&I Loan Growth (QoQ)	4%	$56 million increase in Q2 2025

The bank is actively managing its technology stack expenses as part of the integration, which is showing a favorable outcome against the overall cost save goal. Also, the bank's focus on relationship-focused solutions earned it recognition as one of America's Best Mid-Size Companies in 2025 by TIME magazine.

• Digital deposit program securing over $100 million in new funds.
• Operating ROTCE (Return on Tangible Common Equity) advanced to 10.76% in Q2 2025.
• Net Interest Margin (NIM) was 3.27% in Q2 2025.
• Net charge-offs were 14 basis points of loans for Q2 2025.

Finance: draft pro forma expense structure incorporating the 12.6% synergy target by next Tuesday.

Berkshire Hills Bancorp, Inc. (BHLB) - Canvas Business Model: Key Resources

You're looking at the core assets that underpin Berkshire Hills Bancorp, Inc.'s operations, especially as it moves toward the close of its merger of equals with Brookline Bancorp, Inc. These aren't just line items; they are the tangible and intangible engines driving the business.

The most significant resource is the scale achieved through the pending combination. As of the August 2025 announcement regarding regulatory approvals, the combined entity, Beacon Financial Corporation, is set to become a $24 billion regional banking franchise serving the Northeast. This scale is built upon the foundation of the two legacy institutions:

• Berkshire Bank's asset base was $12.0 billion as of August 2025.
• Brookline Bancorp, Inc. brought an asset base of $11.6 billion.

This combined scale is critical for competing effectively in the regional banking space. It's the size that allows for more significant commercial lending capacity and greater investment in infrastructure.

Physical and Digital Footprint

The physical network is being consolidated to maximize geographic reach across the Northeast. The post-merger footprint is projected to include an integrated branch network of over 145 branch offices across New England and New York. Before the merger close, Berkshire Bank operated 83 branches.

However, the physical network is only half the story now. The proprietary technology stack and digital banking platform are increasingly vital resources. You see the impact of this investment in customer acquisition:

• A relatively new digital deposit initiative delivered approximately $75 million of new deposits in the first quarter of 2025.
• The CEO noted that one out of five new client relationships were coming through digital channels as of Q1 2025.

This digital momentum helps drive efficiency, which was already showing results with an efficiency ratio of 59.5% in Q1 2025, the best quarterly result in two years.

Capital Strength and Human Capital

Strong capital is a non-negotiable resource for any bank, especially one undergoing a major integration. Berkshire Hills Bancorp maintained a strong position heading into the merger close. As reported for the first quarter of 2025, the Tier 1 leverage ratio stood at a solid 11.0%. Furthermore, the Tangible Common Equity (TCE) ratio was 9.9% as of March 31, 2025.

The human element-the experienced teams-translates this capital and scale into revenue. The bank relies on its specialized frontline talent across key business lines:

Here's a quick look at the core operational metrics that these teams drove in Q1 2025:

Metric	Value (Q1 2025)	Context
Net Interest Margin (NIM)	3.24%	Up 10 basis points linked quarter
Operating EPS	$0.60	Flat linked quarter, up 22% year-over-year
Operating Non-Interest Expense	Approximately $68 million (Quarterly)	Down 4% linked quarter
Allowance for Credit Losses (ACL) on Loans	1.24%	Up 2 basis points

The experienced commercial and wealth management teams are tasked with integrating operations while maintaining client service continuity until the systems conversion in 2026. That's a lot to manage while planning for the new Beacon Bank structure.

Finance: draft the pro-forma capital structure analysis for the combined entity by Friday.

Berkshire Hills Bancorp, Inc. (BHLB) - Canvas Business Model: Value Propositions

You are looking at the core value a customer receives from Berkshire Hills Bancorp, Inc. (BHLB) following its merger of equals, which closed effective September 1, 2025, creating Beacon Financial Corporation. The value proposition centers on scale, deep community focus, and operational improvement.

The primary offering is a full suite of tailored commercial, retail, and wealth management solutions. Before the merger, Berkshire Bank already offered these through its established divisions, which now benefit from increased scale and resources:

• Commercial Banking
• Retail Banking
• Consumer Lending
• Private Banking and Wealth Management

This structure supports a relationship-driven, community-focused banking model. The stated purpose is to empower the financial potential of individuals, families, businesses, and organizations by making banking available where, when, and how it's needed. This commitment is grounded in a history of serving clients and communities for over 175 years.

A key component of the value proposition is the stability and guidance from a combined $24 billion regional franchise. This new scale, achieved through the merger, positions the entity as a premier Northeast financial institution. This scale is supported by a network of more than 145 branch offices across five states, offering greater lending capacity and broader service offerings.

Shareholder value is directly tied to operational improvements, such as the improved efficiency ratio of 56.7% (Q2 2025 operating). This figure represents the best quarterly result since 2019, showing a clear operational benefit derived from the combination, improving from the prior quarter's ratio of 59.5%.

Here's a quick look at the scale and efficiency metrics driving this value:

Metric	Berkshire (Pre-Merger, ~Q1 2025 Context)	Combined Franchise (Pro Forma/Late 2025 Context)
Total Assets	$12.0 billion	Approximately $24 billion
Branch Offices	83	More than 145
Efficiency Ratio (Operating)	59.5% (Q1 2025)	56.7% (Q2 2025)
Total Loans (Q2 2025)	$9.5 billion	Implied growth from combined entity

Finally, the bank leverages its 'Socially Responsible Community Bank' positioning as a market differentiator. This is operationalized through a focus on strengthening communities via four key areas:

• Fueling small businesses
• Community financing and philanthropy
• Financial access and empowerment
• Environmental sustainability

The commitment to purpose and performance is intended to create an ecosystem of positive impact while yielding financial returns. This socially responsible vision is something management believes will continue to set the Berkshire brand apart in the market.

Berkshire Hills Bancorp, Inc. (BHLB) - Canvas Business Model: Customer Relationships

For Berkshire Hills Bancorp, Inc., customer relationships are fundamentally built on a dual approach: deep, personalized service for core clients and streamlined digital access for convenience. This strategy is evident in how the bank structures its client engagement across its subsidiary, Berkshire Bank.

Dedicated MyBanker program for personalized service

While specific participation rates for the Dedicated MyBanker program aren't public, the bank's overall identity is rooted in being a relationship-driven institution. This personalized service model is a core differentiator against larger national banks. The commitment to community and client empowerment is also reflected in broader initiatives; for example, the Community Comeback program impacted more than 800,000 individuals through financial wellness programming. This suggests a heavy investment in direct, high-value customer interaction and education.

High-touch, relationship-driven engagement through branch staff

The high-touch model is supported by a physical footprint designed for local engagement. As of Q2 2025, Berkshire Bank operated 83 financial centers across New England and New York, serving clients of the bank holding company, Berkshire Hills Bancorp, Inc. The focus remains on delivering industry-leading financial expertise through its Commercial Banking, Retail Banking, Private Banking, and Wealth Management divisions. This structure ensures that relationship managers and branch staff are equipped to handle tailored banking solutions for personal, commercial, non-profit, and municipal customers.

Digital self-service tools via mobile and online platforms

The relationship model is actively being modernized through digital adoption. The bank's new digital deposit initiative has shown significant traction, crossing $100 million in program-to-date deposits by Q2 2025, up from approximately $75 million in Q1 2025. Furthermore, the success of this digital push is measurable in new client acquisition; roughly 1 out of 5 new client relationships were originating through digital channels as of Q1 2025. This shows a clear shift in how new relationships start, even within a relationship-focused bank.

You're looking at a bank successfully balancing its legacy service model with modern acquisition channels.

Leveraging CRM functionality for targeted customer outreach

The integration of digital data and relationship management is key to targeted outreach. The success in digital deposit growth and new client acquisition suggests effective use of underlying systems to identify and nurture prospects. While specific CRM metrics are proprietary, the operational efficiency gains, such as the Q2 2025 efficiency ratio of 56.7%, imply streamlined processes that help relationship managers focus on the right clients with the right offers, rather than administrative overhead.

Here are some key figures that define the relationship landscape as of mid-2025:

Metric	Value	Period/Context
Total Assets (Subsidiary)	$12.3 billion	Q2 2025
Financial Centers (Subsidiary)	83	Q2 2025
New Client Relationships via Digital Channels	1 out of 5	Q1 2025
Digital Deposit Initiative Program-to-Date Deposits	Over $100 million	Q2 2025
Individuals Impacted by Financial Wellness Programming	More than 800,000	Program Conclusion (2021-2025)
Projected Branch Offices (Post-Merger)	Over 145	Post-Merger of Equals (2H 2025 Close)

The bank's relationship strategy is supported by several key operational focuses:

• Lending more than $3.5 billion to invest in low- to moderate-income neighborhoods.
• Achieving an operating efficiency ratio of 59.5% in Q1 2025, improving to 56.7% in Q2 2025.
• Maintaining strong capital with a CET1 Ratio of 13.3% (Q1 2025).
• Focusing on deposit relationships across business lines.

Finance: draft the integration plan's customer communication timeline by next Wednesday.

Berkshire Hills Bancorp, Inc. (BHLB) - Canvas Business Model: Channels

You're looking at how Berkshire Hills Bancorp, Inc. connects its value proposition to its customers right at the cusp of a major structural change. The channel strategy for Berkshire Hills Bancorp, Inc. as of late 2025 is a blend of established physical presence and growing digital capability, all set to be significantly scaled by the merger with Brookline Bancorp, Inc.

Physical branch network across New England and New York

The core physical channel for Berkshire Hills Bancorp, Inc. is its network of financial centers, which, as of the Q2 2025 reporting period, stood at 83 locations across New England and New York. This network is the bedrock for relationship banking, especially for commercial and private clients. This physical footprint is about to change dramatically, though.

The announced merger of equals with Brookline Bancorp, Inc., expected to close on September 1, 2025, immediately redefines this channel. The combined entity, Beacon Financial Corporation, is projected to serve the Northeast with over 145 branch offices. This represents a significant physical expansion of the distribution network.

Here's a quick look at the scale shift:

Metric	Berkshire Hills Bancorp, Inc. (Pre-Merger, Mid-2025)	Beacon Financial Corporation (Projected Post-Merger, Late 2025)
Total Assets	$12.0 billion	$24 billion
Financial Centers/Branches	83	Over 145
Primary Geographic Footprint	New England and New York	Northeast Region

The strategic move in 2024 to sell 10 upstate and Eastern New York branches, reducing the footprint from 96 to 86 locations, was an optimization move that concentrates focus before this larger consolidation. Anyway, the immediate channel reality for a BHLB customer in late 2025 is still operating within the 83-branch structure until the full integration in Q1 2026.

Digital channels for account opening and customer journeys

Berkshire Hills Bancorp, Inc. actively pushes clients toward digital self-service for efficiency. The bank specifically highlighted progress on its digital deposit program growth as a key strategic initiative supporting Q2 2025 performance. This signals a clear channel preference for new customer acquisition and routine transaction processing.

The digital channel is critical for streamlining journeys:

• Account opening processes are digitized to reduce friction.
• Routine transactions are migrated away from the teller line.
• Digital platforms support the full suite of retail and commercial services.

Commercial and Private Banking relationship managers

For higher-value services, the relationship manager remains the primary channel interface. Berkshire Hills Bancorp, Inc. has been focused on strengthening this human capital channel, opportunistically recruiting executives and front-line commercial relationship talent with an emphasis on deposit, private banking, and wealth management professionals. This shows where the high-touch sales effort is directed.

The depth of this channel is defined by the complexity of the client portfolios they manage. For instance, a Commercial Relationship Manager II role is structured to manage a portfolio of commercial customers with:

• Annual revenues typically ranging from $10MM to over $200MM.
• Borrowing needs of $3MM or more.

This segment relies on the manager acting as a trusted advisor, connecting the client to the bank's full suite of solutions across Commercial Banking, Private Banking, and Wealth Management divisions.

Mobile banking application and online portal

The mobile banking application and the online portal serve as the always-on digital storefront and service center. While specific active user counts aren't public, the bank's focus on digital deposit growth implies high engagement with these platforms. These portals are where clients manage their accounts, initiate transfers, and access statements.

For investor relations, which is a key channel for stakeholders, the company directs participants to ir.berkshirebank.com for live webcasts and replay access for earnings calls, such as the one for Q2 2025 on July 24, 2025. This demonstrates the portal's role as the official, verifiable source of corporate information. If onboarding takes 14+ days, churn risk rises, so the speed of the digital journey through these portals is defintely a key performance indicator for the bank.

Finance: draft 13-week cash view by Friday.

Berkshire Hills Bancorp, Inc. (BHLB) - Canvas Business Model: Customer Segments

Berkshire Hills Bancorp, Inc. serves a diverse client base across its operational footprint in the New England and New York region. The bank structures its client focus across four primary categories, supported by its various divisions.

Consumer clients in New England and New York region

• The Retail Banking division targets this segment with tailored banking solutions.
• Total end of period deposits were reported at $9.9 billion as of Q1 2025.
• The digital deposits offering showed momentum, crossing $100 million program-to-date as of Q2 2025.
• Average deposits increased by 6% year-over-year as of Q2 2025.

Small Business and Middle Market commercial clients

• Commercial Banking provides services to these clients, with a focus on commercial lending.
• The merger with Brookline Bancorp was noted to combine Berkshire's funding base with Brookline's commercial lending focus in metro markets as of August 2025.
• Broad-based loan growth was evident in Q2 2025, with specific mention of the Commercial and Industrial (C&I) segment.
• Total loans were $9.4 billion at the end of Q1 2025.

High-net-worth individuals for Private Banking and Wealth Management

• The Private Banking and Wealth Management divisions are dedicated to serving this group.
• Berkshire Hills Bancorp, Inc. provides wealth management products as part of its full suite of offerings.

Institutional and municipal depositors

• This segment contributes to the overall funding base through deposits.
• In Q3 2025, the bank saw combined customer deposits increase by $89 million.
• However, in Q3 2025, broker deposits declined by $249 million, and payroll deposits declined by $186 million.

Here's a quick look at the overall balance sheet context as of mid-2025, which frames the scale of these customer relationships:

Metric	Amount (as of June 2025)	Source Context
Total Assets	$12.03 Billion USD	Balance sheet total
Net Assets	$1.22 Billion USD	Balance sheet total
Total Loans (Q1 2025 EoP)	$9.4 billion	Loan portfolio size
Total Deposits (Q1 2025 EoP)	$9.9 billion	Deposit base size
Loan-to-Deposit Ratio (Q3 2025)	96.5%	Funding utilization

To be fair, the Q3 2025 deposit changes suggest some volatility in non-retail funding sources, which is something you'll want to track closely as the integration progresses. The allowance for credit losses stood at $254 million in Q3 2025, with $77 million in specific reserves set aside against approximately $380 million of loans.

Berkshire Hills Bancorp, Inc. (BHLB) - Canvas Business Model: Cost Structure

The Cost Structure for Berkshire Hills Bancorp, Inc. (BHLB) is heavily influenced by funding costs, personnel, and the physical footprint, all while integrating a major acquisition.

Significant interest expense on deposits and borrowings is a primary driver. While the absolute interest expense is embedded within the Net Interest Income calculation, the cost of funding showed improvement in Q2 2025. The cost of deposits decreased to 2.15%, and the overall cost of funds decreased to 2.29% in the second quarter of 2025. Net Interest Income (FTE) for Q2 2025 was reported at $93.8 million. Management noted a benefit from lower reliance on Federal Home Loan Bank (FHLB) borrowing.

Personnel and compensation expenses are noted to be seasonally higher at certain times of the year; for instance, they were seasonally higher in Q1 2025. While the specific Q2 2025 dollar amount for compensation is not explicitly broken out, the overall operating non-interest expense reduction was described as broad based.

The cost associated with the physical network, occupancy and equipment costs, is a fixed component of the structure. As of August 2025, Berkshire Bank operated 83 financial centers in New England and New York. This figure is pre-full integration of the merger, which was expected to close in the third quarter of 2025.

Non-interest operating expenses, which reflect ongoing cost control efforts, were $66.7 million in Q2 2025. This represented a sequential decrease of $1.3 million (or 2%) and a year-over-year decrease of $4.7 million (or 7%).

Merger-related non-operating expenses were present in Q2 2025, totaling $1.5 million, primarily related to the pending integration with Brookline Bancorp. The expected benefit from this integration is a pro forma cost save target set at 12.6%.

Here is a summary of the key cost-related figures from Q2 2025:

Cost Component	Amount / Metric	Period / Context
Operating Non-Interest Expense (Total)	$66.7 million	Q2 2025
Merger-Related Non-Operating Expense	$1.5 million	Q2 2025
Cost of Deposits	2.15%	Q2 2025
Cost of Funds	2.29%	Q2 2025
Net Interest Income (FTE)	$93.8 million	Q2 2025
Pro Forma Cost Save Target	12.6%	Post-Merger Estimate
Branch Network Size	83 financial centers	August 2025 (Pre-full integration)

You should note the following qualitative cost drivers:

• Personnel and compensation expenses are subject to seasonally higher pressures.
• The 83 branch network is expected to be rationalized post-merger to achieve the 12.6% cost synergy goal.
• The decrease in the cost of funds is a direct result of deposit growth initiatives, which helps lower overall funding costs.

Berkshire Hills Bancorp, Inc. (BHLB) - Canvas Business Model: Revenue Streams

The revenue streams for Berkshire Hills Bancorp, Inc. are fundamentally built upon traditional banking activities, heavily weighted toward interest income, supplemented by various fee-based services.

Net Interest Income (NII) remains the primary engine. For the first quarter of 2025, Berkshire Hills Bancorp, Inc. reported Net Interest Income of $89.8 million. By the second quarter of 2025, this figure had grown to $91.9 million (non-FTE).

Loan interest income is directly tied to the size and yield of the loan portfolio. As of Q2 2025, the average total loan portfolio stood at $9.5 billion. The loan yield for Q2 2025 was reported at 5.82%. Period-end loans for Q2 2025 were $9.499 billion.

Non-interest income provides diversification, though it can be more variable. Total operating non-interest income for Q2 2025 was $21.8 million.

The components of this non-interest income are detailed below, showing the reliance on service fees and other sources:

Revenue Component	Q2 2025 Amount	Context/Driver
Operating Non-Interest Income	$21.8 million	Total non-interest revenue for the quarter
Loan-Related Fees	Increased linked quarter	Driven by loan servicing and BOLI gains
SBA Gains	Moderated from prior quarters	Expected to normalize near $2.9 million (Q1 2025 context)
BOLI Gains	Approximately $800,000 above normal	Identified as nonrecurring in Q2 2025
Wealth Management Fees	Not explicitly itemized	Part of the overall Non-Interest Income stream

Deposit-related and loan-related service fees contribute to the overall non-interest income. You can see the specific drivers impacting this revenue line:

• Loan-related fees increased in Q2 2025 due to higher loan servicing fees.
• The bank saw a sequential increase in operating revenue for six consecutive quarters, growing 8% over that period, including a 3% growth linked quarter (Q2 2025 over Q1 2025).
• The efficiency ratio improved to 56.7% in Q2 2025, showing better cost control relative to revenue generation.
• The digital deposit initiative has delivered over $100 million in new deposits since its inception earlier in 2025.

Finance: draft the Q3 2025 revenue projection based on Q2 NIM of 3.27% and expected merger close in September by next Tuesday.