Nitin Mhatre is the President and CEO of Berkshire Hills Bancorp, Inc. Since joining the company in 2021, he has overseen key performance goals. His compensation reflects a focus on performance with a total of about $2.6 million in 2022,...

Nitin Mhatre is the President and CEO of Berkshire Hills Bancorp, Inc. Since joining the company in 2021, he has overseen key performance goals. His compensation reflects a focus on performance with a total of about $2.6 million in 2022, which includes a base salary of $775,000 and various stock awards. Mhatre's leadership style is driven by aligning executive pay with company success, highlighting the importance of operational metrics in financial performance.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Berkshire Hills Bancorp CEOs

B

Nitin Mhatre

Ex-CEO of Berkshire Hills Bancorp

Sector of Economy

Financial Services

CEO of Berkshire Hills Bancorp for

1 year 10 months (May 2021 - Apr 2023)

Previous Experience

Unknown

Rivals

Competitors/colleagues of Nitin Mhatre

U

Richard M. Adams, Jr.

CEO of United Bankshares

2023 Compensation

Stock

$609.36K

Salary

$1.00M

Bonus

$1.09M

Other

$59.30K

Total Holdings

$6.01M

S

Christopher J. McComish

CEO of S&T Bancorp

2023 Compensation

Stock

$150.00K

Salary

$350.00K

Bonus

$70.00K

Other

$20.00K

Total Holdings

$715.40K

H

Joseph S. Exnicios

CEO of Hancock Whitney Corporation

2023 Compensation

Stock

$265.86K

Salary

$553.84K

Bonus

$383.43K

Other

$67.08K

Total Holdings

$2.37M

P

Anthony Labozzetta

CEO of Provident Financial Services

2023 Compensation

Stock

$61.82K

Salary

$818.27K

Bonus

$309.38K

Other

$121.55K

Total Holdings

$8.84M

A

H. Palmer Proctor, Jr.

CEO of Ameris Bancorp

2023 Compensation

Stock

$1.90M

Salary

$925.00K

Bonus

$1.44M

Other

$98.20K

Total Holdings

$28.94M

Holdings

See how much did Nitin Mhatre make over time.

Nitin Mhatre’s stock holdings in Berkshire Hills Bancorp have fluctuated significantly. In 2021, his wealth was tied to 688,766 shares of restricted stock with substantial values, peaking at around $2.3 million that year. In 2022, he saw a decrease in...

Nitin Mhatre’s stock holdings in Berkshire Hills Bancorp have fluctuated significantly. In 2021, his wealth was tied to 688,766 shares of restricted stock with substantial values, peaking at around $2.3 million that year. In 2022, he saw a decrease in his stock value with about 5,539 shares vested, bringing the equity's worth down to $160,188, as performance metrics faced challenges. By 2023, he reverted to approximately 9,291 stock units, maintaining a vested value of roughly $282,075. This reflects the ups and downs of performance-based stock options and the impact of company success on his overall wealth.

Mar 18, 2025

B

shares

BHLB @ $26.32

W

shares

WBS @ $50.93

Total Stock Sold

$1.94M

WBS

$1.94M

45,540 WBS shares

What if they kept their stock?

If Nitin Mhatre didn't sell their stock, today they would have:
Extra WBS45,540 shares worth $1.42M.
This is -26.99% and $524.01K less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Nitin Mhatre.

BHLB

$24.22K

BHLB at $22.02/share

Apr 25, 2024

Purchase

BHLB

31,042 shares

BHLB

Feb 6, 2024

Received

BHLB

14,000 shares

BHLB

Jan 30, 2024

Received

BHLB

$19.82K

BHLB at $19.82/share

Sep 12, 2023

Purchase

BHLB

$33.44K

BHLB at $22.29/share

Jul 25, 2023

Purchase

BHLB

$41.02K

BHLB at $19.53/share

May 2, 2023

Purchase

BHLB

$96.00K

BHLB at $24.62/share

Mar 15, 2023

Purchase

BHLB

11,552 shares

BHLB

Jan 30, 2023

Received

BHLB

11,256 shares

BHLB

Jan 30, 2022

Received

BHLB

$79.59K

BHLB at $29.48/share

Jan 25, 2022

Purchase

Compensation History

See how much did Nitin Mhatre make over time.

In 2023, Nitin Mhatre’s total compensation reached approximately $2.63 million. This included a base salary of $835,000 but no bonus was awarded due to not fully meeting performance metrics. He received 9,291 shares of restricted stock that vested worth about $282,075 and additional compensation from benefits and retirement contributions, amounting to around $307,905. Despite these figures, his performance-driven pay emphasizes the connection between the company’s success and executive earnings, with an eye toward aligning long-term goals with shareholder interests.

Year

2023

Total Compensation

$1.42M

Salary

$835.00K

Board Justification

The compensation philosophy aims to align executive pay with company performance, focusing on both short-term and long-term incentives to drive shareholder value.

Bonus

$0.00

Board Justification

No bonus was awarded for 2023 due to performance metrics not being fully achieved.

Other

$307.91K

Board Justification

Includes various benefits such as automobile allowance, financial planning, and other perquisites.

Restricted Stock

$282.08K(9.29K RSU)

Board Justification

9291 shares of restricted stock vested in 2023 based on performance criteria set in prior years.

Performance Metrics

The performance metrics for 2023 included Operating Return on Tangible Common Equity, Operating Return on Assets, and other financial measures, with overall performance achieving 93.3% of target.

Other Berkshire Hills Bancorp CEOs

Here are other CEOs of Berkshire Hills Bancorp

Sean Gray

Ex-CEO of Berkshire Hills Bancorp

August 2020 - May 2021

Eric S. Rosengren

CEO of Berkshire Hills Bancorp

April 2023 - Present