Operator
Ladies and gentlemen, thank you for standing by, and welcome to the ON Semiconductor First Quarter 2021 Earnings Conference Call. [Operator Instructions]
I would now like to turn the call over to Parag Agarwal, Vice President of Investor Relations and Corporate Development. Thank you. Please go ahead.
Parag Agarwal
Vice President-Investor Relations & Corporate Development
Thank you, Denise. Good morning, and thank you for joining ON Semiconductor Corporation s first quarter 2021 quarterly results conference call. I m joined today by Hassane El-Khoury, our President and CEO; and Thad Trent, our CFO.
This call is being webcast on the Investor Relations section of our website at www.onsemi.com. A replay of this webcast, along with our 2021 first quarter earnings release, will be available on our website approximately one hour following this conference call, and a recorded webcast will be available for approximately 30 days following this conference call. Additional inf
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Berkshire Hills Announces Share Repurchase Authorization
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BOSTON, April 28, 2021 /PRNewswire/ Berkshire Hills Bancorp, Inc. (NYSE: BHLB) today announced that its Board of Directors has approved a stock repurchase program pursuant to which the Company may repurchase up to 2,500,000 shares of its common stock through April 30, 2022. This represents approximately 5% of its outstanding shares as of March 31, 2021.
The authorization does not constitute a commitment to repurchase shares. The Company may conduct the repurchases through open market purchases, block trades, unsolicited negotiated transactions, pursuant to a trading plan that may be adopted in accordance with Securities and Exchange Commission ( SEC ) Rule 10b5-1, or in any other manner that complies with the provisions of the Securities Exchange Act of 1934, as amended.
Berkshire Hills Announces First Quarter Results
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BOSTON, April 28, 2021 /PRNewswire/ Berkshire Hills Bancorp, Inc. (NYSE: BHLB) today announced first quarter 2021 net income of $13 million, or $0.26 per share, compared to $15 million, or $0.30 per share, in the prior quarter. The first quarter non-GAAP measure of adjusted earnings totaled $16 million, or $0.32 per share, compared to $14 million, or $0.28 per share, in the prior quarter. First quarter adjusted income excludes $3 million in restructuring and other expenses. Quarterly results benefited from higher revenues and lower credit loss provision expense.
FIRST QUARTER FINANCIAL HIGHLIGHTS (Comparisons are to the prior quarter unless otherwise stated; non-GAAP measures are reconciled on page F-8)
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