Exhibit 99.1

Berkshire Hills Reports $0.24 EPS for First Quarter 2010,
3% Growth in Income Available to Common Shareholders,
And Accomplishment of Asset Initiatives

Dividend Declared

Pittsfield, MA — April 21, 2010 — Berkshire Hills Bancorp (BHLB) reported net income of $3.3 million, or $0.24 per share, in the first quarter of 2010. Net income available to common shareholders increased by 3% from $3.2 million in the first quarter of 2009. First quarter earnings per share decreased from $0.27 in 2009 due to additional shares issued in the second quarter last year.

FIRST QUARTER FINANCIAL HIGHLIGHTS

• 10% annualized deposit growth

• 3% increase in first quarter income available to common shareholders compared to the prior year

• 3.24% net interest margin, increased from 3.05% in the prior quarter

• 30% growth in banking fees for deposits, loans, and interest rate swaps compared to prior year

• 36% decrease in nonperforming assets to $25 million, or 0.92% of total assets

• $15 million reduction to $3 million in performing restructured loans

• 0.47% annualized net charge-offs/average total loans

• 0.31% ratio of accruing delinquent loans/loans — lowest since 2006

• 147% ratio of the loan loss allowance to non-accruing loans

Michael P. Daly, President and Chief Executive Officer, stated, “First quarter results demonstrate our positive momentum in building earnings available to common shareholders and in strengthening asset quality. Aggressive strategic actions in the fourth quarter last year have positioned Berkshire for higher growth and earnings in 2010 and beyond. We achieved first quarter results while carrying the costs of recent expansion into asset based lending and private banking, together with expansion of our regional offices in Albany and Springfield. These initiatives will contribute more significantly to revenue as we move through the year.”

BHLB — Berkshire Hills Bancorp Page 1 www.berkshirebank.com

Mr. Daly continued, “Our nonperforming assets were elevated at the start of 2010 as we pursued workout strategies initiated near year-end to resolve potential risks in the loan portfolio. Nonperforming assets decreased to below 1% of total assets as we completed the resolution of several credits, and we anticipate more resolutions in the upcoming quarters. Net loan charge-offs averaged 0.47% annualized in the first quarter, and we ended the quarter with the lowest level of accruing delinquent loans in several years, compared to total loans. Our outlook for the region is cautiously optimistic, as local business confidence has rebounded to levels last seen in the third quarter of 2008.”

Mr. Daly concluded, “Berkshire is the largest locally headquartered regional bank, and is well positioned to meet the needs of our markets. Our double digit annualized deposit growth in the first quarter provides a solid base to support future organic loan growth. We are well capitalized and our dividend to shareholders provides a yield exceeding 3%. Going forward, we plan to post year-over-year EPS gains in line with our prior guidance, reflecting expected improvements in nearly all major business lines.”

DIVIDEND DECLARED

The Board of Directors maintained the cash dividend on Berkshire’s common stock, declaring a dividend of $0.16 per share to stockholders of record at the close of business on May 13, 2010 and payable on May 27, 2010.

FINANCIAL CONDITION

Total assets remained steady at $2.7 billion in the most recent quarter. Total loans increased by $20 million at a 4% annualized rate, including $27 million of growth in residential mortgages. Commercial loan originations included $13 million in bookings by the new asset based lending group, and the commercial loan pipeline increased during the quarter.

The $14 million reduction in commercial nonperforming assets was consistent with the Company’s plans at the start of the quarter. Nonperforming assets decreased to $25 million (0.92% of total assets) at quarter-end. These included a $6 million commercial loan restructured during the quarter, which is expected to become accruing later this year. No other nonperforming loan exceeded $2 million. Accruing delinquent loans decreased to a comparatively low 0.31% of total loans, with improvements in most major categories. Accruing renegotiated loans decreased to $3 million from $18 million in the first quarter based on payment histories and market level risk adjusted loan interest rates.

Total deposits increased by $51 million (10% annualized) during the first quarter, primarily due to growth in money market and savings accounts. Deposits increased in all of the Bank’s regions, and included the benefit of the new private banking business unit. The cost of deposits continued to decrease, falling to 1.39% in the most recent quarter, compared to 1.48% in the prior quarter. Funds from deposit growth were used to reduce borrowings by $50 million. The loan/deposit ratio continued to improve to 97%, demonstrating the Bank’s strong liquidity.

BHLB — Berkshire Hills Bancorp Page 2 www.berkshirebank.com

Total stockholders’ equity increased slightly during the quarter, totaling $385 million at quarter-end. Tangible equity/assets remained unchanged at 8.3%, and total equity to assets remained unchanged at 14.2%. At quarter-end, tangible book value per share measured $14.97, while total book value per share was $27.47.

RESULTS OF OPERATIONS

First quarter 2010 net income available to common shareholders was $3.3 million, compared to $3.2 million in the same quarter of 2009. Results in 2009 included the impact of dividends on preferred stock which was repaid near the end of the second quarter. Before these dividends, net income was $3.9 million in the first quarter of 2009. Earnings per share were $0.24 in the most recent quarter, decreasing from $0.27 in the year ago quarter due to the issuance of additional common shares around the time of the preferred stock repayment last year.

First quarter total net revenue increased by $0.4 million (2%) in 2010 compared to 2009. Net interest income increased by $0.6 million (3%) due to an improvement in the net interest margin to 3.24% from 3.11%. Net interest income also improved from the fourth quarter of 2009, reflecting an improvement in the net interest margin from 3.05%. This linked quarter improvement was primarily due to lower funding costs for both deposits and borrowings.

First quarter non-interest income decreased by $0.2 million (2%) from the prior year due to a $1.1 million (24%) decrease in insurance revenue. Insurance revenue includes seasonal contingency income which declined due to lower payouts from major carriers. Banking fees for deposits, loans, and interest rate swaps increased by 30% over the first quarter of 2009, and by 15% over the prior quarter, including the benefit of higher business volumes.

The first quarter loan loss provision totaled $2.3 million in 2010, decreasing by $0.2 million from the prior year period. Net loan charge-offs also totaled $2.3 million and decreased by a similar amount, measuring 0.47% of average loans in 2010 compared to 0.51% in the first quarter of 2009. The loan loss allowance measured 1.61% of total loans and 147% of non-accruing loans at quarter-end, compared to 1.62% and 82% at the start of the quarter, respectively.

First quarter non-interest expense increased by $1.7 million (9%) from the prior year, including the impact of business expansion on compensation related expense. First quarter results benefited from a year-to-year reduction in the effective income tax rate to 22% from 28% reflecting the expected effective rate for the current year.

BHLB — Berkshire Hills Bancorp Page 3 www.berkshirebank.com

CONFERENCE CALL

Berkshire will conduct a conference call/webcast at 10:00 A.M. eastern time on Thursday, April 22, 2010 to discuss the results for the quarter and guidance about expected future results. Information about the conference call follows:

Dial-in:	800-860-2442
Webcast:	www.berkshirebank.com (Investor Relations link)

A telephone replay of the call will be available through May 9, 2010 by calling 877-344-7529 and entering conference number: 439415. The webcast and a podcast will be available at Berkshire’s website above for an extended period of time.

BACKGROUND

Berkshire Hills Bancorp is the parent of Berkshire Bank — America’s Most Exciting Bank^SM - the largest locally headquartered regional bank. The Company has $2.7 billion in assets and provides services through 45 offices in Massachusetts, New York, and Vermont. For more information, visit www.berkshirebank.com or call 800-773-5601.

FORWARD LOOKING STATEMENTS

Statements in this news release regarding Berkshire Hills Bancorp that are not historical facts are “forward-looking statements”. These statements reflect management’s views of future events, and involve risks and uncertainties. For a discussion of factors that could cause actual results to differ materially from expectations, see “Forward Looking Statements” in the Company’s 2009 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available at the Securities and Exchange Commission’s Internet website (www.sec.gov) and to which reference is hereby made. Actual future results may differ significantly from results discussed in these forward-looking statements, and undue reliance should not be placed on such statements. Except as required by law, the Company assumes no obligation to update any forward-looking statements.

BHLB — Berkshire Hills Bancorp Page 4 www.berkshirebank.com

NON-GAAP FINANCIAL MEASURES

This document contains certain non-GAAP financial measures in addition to results presented in accordance with Generally Accepted Accounting Principles (“GAAP”). These non-GAAP measures provide supplemental perspectives on operating results, performance trends, and financial condition. They are not a substitute for GAAP measures; they should be read and used in conjunction with the Company’s GAAP financial information. A reconciliation of non-GAAP financial measures to GAAP measures is included in the accompanying financial tables. In all cases, it should be understood that non-GAAP per share measures do not depict amounts that accrue directly to the benefit of shareholders. The Company utilizes the non-GAAP measure of core earnings in evaluating operating trends, including components for core revenue and expense. These measures exclude amounts which the Company views as unrelated to its normalized operations, including merger costs and restructuring costs. Similarly, the efficiency ratio is also adjusted for these non-core items. Additionally, the Company adjusts core income to exclude amortization of intangibles to arrive at a measure of the underlying operating cash return for the benefit of shareholders. The Company also adjusts certain equity related measures to exclude intangible assets due to the importance of these measures to the investment community. In the first quarter of 2009, the Company adjusted core earnings per share and core return on tangible common equity to be net of preferred stock dividends. These measures were not adjusted in this manner in the second quarter of 2009. The second quarter deemed dividend was a nonrecurring non-cash charge with no impact on stockholders’ equity and did not reflect a core economic event in the Company’s view. Additionally, the Company held cash at near-zero interest rates in the second quarter while it awaited the approval of the U.S. Treasury to repay the preferred stock. Accordingly, the preferred stock cash dividend and accretion charges were viewed by the Company as non-core one-time charges against income available to common stockholders related to the process of repaying the preferred stock. Other significant non-GAAP adjustments in 2009 related to a terminated merger agreement, borrowings prepayments, and the termination of an interest rate swap.

# # #

CONTACTS

Investor Relations Contact
David H. Gonci
Capital Markets Officer
413-281-1973

Media Contact
Fedelina Madrid
Vice President, Senior Marketing Officer
413-236-3733

BHLB — Berkshire Hills Bancorp Page 5 www.berkshirebank.com

BERKSHIRE HILLS BANCORP, INC.
CONSOLIDATED BALANCE SHEETS — UNAUDITED

	March 31,			December 31,
(In thousands)	2010			2009
Assets
Cash and due from banks	$	23,880		$	25,770
Short-term investments		2,697			6,838
Trading security		15,816			15,880
Securities available for sale, at fair value		313,968			324,345
Securities held to maturity, at amortized cost		62,811			57,621
Federal Home Loan Bank stock and other restricted securities		23,120			23,120
Total securities		415,715			420,966
Loans held for sale		1,874			4,146
Residential mortgages		635,614			609,007
Commercial mortgages		862,209			851,828
Commercial business loans		177,532			186,044
Consumer loans		305,986			314,779
Total loans		1,981,341			1,961,658
Less: Allowance for loan losses		(31,829	)		(31,816	)
Net loans		1,949,512			1,929,842
Premises and equipment, net		37,396			37,390
Other real estate owned		3,250			30
Goodwill		161,725			161,725
Other intangible assets		13,608			14,375
Cash surrender value of bank-owned life insurance		34,973			36,904
Other assets		60,829			62,438
Total assets	$	2,705,459		$	2,700,424
Liabilities and stockholders’ equity
Demand deposits	$	272,409		$	276,587
NOW deposits		195,848			197,176
Money market deposits		582,006			532,840
Savings deposits		237,454			208,597
Total non-maturity deposits		1,287,717			1,215,200
Time deposits		749,576			771,562
Total deposits		2,037,293			1,986,762
Borrowings		241,577			291,204
Junior subordinated debentures		15,464			15,464
Other liabilities		25,804			22,413
Total liabilities		2,320,138			2,315,843
Total stockholders’ equity		385,321			384,581
Total liabilities and stockholders’ equity	$	2,705,459		$	2,700,424

F-1

BERKSHIRE HILLS BANCORP, INC.
CONSOLIDATED LOAN & DEPOSIT ANALYSIS — UNAUDITED

LOAN ANALYSIS

					Annualized Growth %
	March 31, 2010		December 31, 2009		Quarter ended
(Dollars in millions)	Balance		Balance		March 31, 2010
Total residential mortgages	$	636	$	609		18	%
Commercial mortgages:
Construction		105		111		(22	)
Single and multi-family		80		81		(5	)
Commercial real estate		676		660		10
Total commercial mortgages		861		852		4
Commercial business loans (1)		178		186		(17	)
Total commercial loans		1,039		1,038		0
Consumer loans:
Auto		63		75		(64	)
Home equity and other		243		240		5
Total consumer loans		306		315		(11	)
Total loans	$	1,981	$	1,962		4	%

(1) Total commercial business loans at March 31, 2010 includes asset based lending balances of $13 million.

DEPOSIT ANALYSIS

					Annualized Growth %
	March 31, 2010		December 31, 2009		Quarter ended
(Dollars in millions)	Balance		Balance		March 31, 2010
Demand	$	272	$	277		(7	)%
NOW		196		197		(2	)
Money market		582		533		37
Savings		237		208		56
Total non-maturity deposits		1,287		1,215		24
Time less than $100,000		380		382		(2	)
Time $100,000 or more		370		390		(21	)
Total time deposits		750		772		(12	)
Total deposits	$	2,037	$	1,987		10	%

F-2

BERKSHIRE HILLS BANCORP, INC.

CONSOLIDATED STATEMENTS OF INCOME — UNAUDITED

	Three Months Ended
	March 31,
(In thousands, except per share data)	2010		2009
Interest and dividend income
Loans	$	23,947	$	26,432
Securities and other		3,535		3,448
Total interest and dividend income		27,482		29,880
Interest expense
Deposits		6,896		8,473
Borrowings and junior subordinated debentures		2,289		3,696
Total interest expense		9,185		12,169
Net interest income		18,297		17,711
Non-interest income
Deposit, loan and interest rate swap fees		3,416		2,627
Insurance commissions and fees		3,473		4,569
Wealth management fees		1,176		1,189
Total fee income		8,065		8,385
Other		433		352
Loss on sale of securities, net		—		(2	)
Non-recurring loss		—		(63	)
Total non-interest income		8,498		8,672
Total net revenue		26,795		26,383
Provision for loan losses		2,326		2,500
Non-interest expense
Compensation and benefits		10,997		9,352
Occupancy and equipment		3,035		3,128
Technology and communications		1,383		1,285
Marketing and professional services		1,297		1,083
Supplies, postage and delivery		573		695
FDIC premiums and assessments		773		692
Other real estate owned		27		143
Amortization of intangible assets		768		833
Non-recurring expenses		21		—
Other		1,318		1,242
Total non-interest expense		20,192		18,453
Income before income taxes		4,277		5,430
Income tax expense		941		1,547
Net income	$	3,336	$	3,883
Less: Cumulative preferred stock dividend and accretion		—		637
Net income available to common stockholders	$	3,336	$	3,246
Basic earnings per common share	$	0.24	$	0.27
Diluted earnings per common share	$	0.24	$	0.27
Weighted average common shares outstanding
Basic		13,829		12,164
Diluted		13,858		12,247

F-3

BERKSHIRE HILLS BANCORP, INC.
CONSOLIDATED STATEMENTS OF INCOME — UNAUDITED

	Quarters Ended
	Mar. 31,		Dec. 31,			Sept. 30,			June 30,			Mar. 31,
(In thousands, except per share data)	2010		2009			2009			2009			2009
Interest and dividend income
Loans	$	23,947	$	24,869		$	25,034		$	25,370		$	26,432
Securities and other		3,535		3,502			3,426			3,395			3,448
Total interest and dividend income		27,482		28,371			28,460			28,765			29,880
Interest expense
Deposits		6,896		7,419			8,045			8,677			8,473
Borrowings and junior subordinated debentures		2,289		2,956			3,250			3,364			3,696
Total interest expense		9,185		10,375			11,295			12,041			12,169
Net interest income		18,297		17,996			17,165			16,724			17,711
Non-interest income
Deposit, loan and interest rate swap fees		3,416		2,978			3,286			2,307			2,627
Insurance commissions and fees		3,473		1,991			2,337			3,274			4,569
Wealth management fees		1,176		1,141			1,369			1,113			1,189
Total fee income		8,065		6,110			6,992			6,694			8,385
Other		433		613			272			468			352
(Loss) gain on sale of securities, net		—		—			(5	)		3			(2	)
Non-recurring (loss) income		—		(2,071	)		1			1,240			(63	)
Total non-interest income		8,498		4,652			7,260			8,405			8,672
Total net revenue		26,795		22,648			24,425			25,129			26,383
Provision for loan losses		2,326		38,730			4,300			2,200			2,500
Non-interest expense
Compensation and benefits		10,997		10,269			9,757			8,902			9,352
Occupancy and equipment		3,035		2,953			2,674			2,859			3,128
Technology and communications		1,383		1,440			1,371			1,370			1,285
Marketing and professional services		1,297		2,643			1,446			1,121			1,083
Supplies, postage and delivery		573		523			702			689			695
Other real estate owned		27		104			15			19			143
FDIC premiums and assessments		773		796			669			2,387			692
Non-recurring expenses		21		—			—			601			—
Amortization of intangible assets		768		779			833			833			833
Other		1,318		1,689			1,477			1,197			1,242
Total non-interest expense		20,192		21,196			18,944			19,978			18,453
Income (loss) before income taxes		4,277		(37,278	)		1,181			2,951			5,430
Income tax expense (benefit)		941		(13,075	)		(741	)		620			1,547
Net income (loss)	$	3,336	$	(24,203	)	$	1,922		$	2,331		$	3,883
Less: Cumulative preferred stock dividend and accretion		—		—			—			393			637
Less: Deemed dividend from preferred stock repayment		—		—			—			2,954			—
Net income (loss) available to common stockholders	$	3,336	$	(24,203	)	$	1,922		$	(1,016	)	$	3,246
Basic earnings (loss) per common share	$	0.24	$	(1.75	)	$	0.14		$	(0.08	)	$	0.27
Diluted earnings (loss) per common share	$	0.24	$	(1.75	)	$	0.14		$	(0.08	)	$	0.27
Weighted average common shares outstanding
Basic		13,829		13,817			13,806			12,946			12,164
Diluted		13,858		13,817			13,857			12,946			12,247

F-4

BERKSHIRE HILLS BANCORP, INC.
ASSET QUALITY ANALYSIS

	At or for the Quarters Ended
	Mar. 31,			Dec. 31,			Sept. 30,			June 30,			Mar. 31,
(Dollars in thousands)	2010			2009			2009			2009			2009
NON-PERFORMING ASSETS
Non-accruing loans:
Residential mortgages	$	3,289		$	3,304		$	2,399		$	2,396		$	2,740
Commercial mortgages		14,433			31,917			17,077			6,087			7,276
Commercial business loans		3,211			3,115			2,041			1,442			1,861
Consumer loans		672			364			1,089			1,326			587
Total non-accruing loans		21,605			38,700			22,606			11,251			12,464
Other real estate owned		3,250			30			130			130			371
Total non-performing assets	$	24,855		$	38,730		$	22,736		$	11,381		$	12,835
Total non-accruing loans/total loans		1.09	%		1.97	%		1.14	%		0.57	%		0.63	%
Total non-performing assets/total assets		0.92	%		1.43	%		0.85	%		0.42	%		0.47	%
PROVISION AND ALLOWANCE FOR LOAN LOSSES
Balance at beginning of period	$	31,816		$	24,297		$	22,917		$	22,903		$	22,908
Charged-off loans		(3,846	)		(31,254	)		(2,955	)		(2,291	)		(2,643	)
Recoveries on charged-off loans		1,533			43			35			105			138
Net loans charged-off		(2,313	)		(31,211	)		(2,920	)		(2,186	)		(2,505	)
Provision for loan losses		2,326			38,730			4,300			2,200			2,500
Balance at end of period	$	31,829		$	31,816		$	24,297		$	22,917		$	22,903
Allowance for loan losses/total loans		1.61	%		1.62	%		1.22	%		1.16	%		1.16	%
Allowance for loan losses/non-accruing loans		147	%		82	%		107	%		204	%		184	%
NET LOAN CHARGE-OFFS
Residential mortgages	$	56		$	(1,873	)	$	—		$	(27	)	$	(117	)
Commercial mortgages		(2,584	)		(23,024	)		(2,348	)		(755	)		(1,448	)
Commercial business loans		571			(4,864	)		(72	)		(795	)		(150	)
Auto		(275	)		(491	)		(443	)		(608	)		(753	)
Home equity and other		(81	)		(959	)		(57	)		(1	)		(37	)
Total, net	$	(2,313	)	$	(31,211	)	$	(2,920	)	$	(2,186	)	$	(2,505	)
Net charge-offs (current quarter annualized)/average loans		0.47	%		6.21	%		0.59	%		0.45	%		0.51	%
Net charge-offs (YTD annualized)/average loans		0.47	%		1.99	%		0.52	%		0.48	%		0.51	%
DELINQUENT AND NON-ACCRUING LOANS/TOTAL LOANS
30-89 Days delinquent		0.30	%		0.35	%		0.34	%		0.63	%		0.45	%
90+ Days delinquent and still accruing		0.01	%		0.01	%		0.08	%		0.03	%		0.01	%
Total accruing delinquent loans		0.31	%		0.36	%		0.42	%		0.66	%		0.46	%
Non-accruing loans		1.09	%		1.97	%		1.14	%		0.57	%		0.63	%
Total delinquent and non-accruing loans		1.40	%		2.33	%		1.56	%		1.23	%		1.09	%

F-5

BERKSHIRE HILLS BANCORP, INC.
SELECTED FINANCIAL HIGHLIGHTS

	At or for the Quarters Ended
	Mar. 31,			Dec. 31,			Sept. 30,			June 30,			Mar. 31,
	2010			2009			2009			2009			2009
PERFORMANCE RATIOS
Core return on tangible assets		0.66	%		(3.49	)%		0.44	%		0.45	%		0.77	%
Return on total assets		0.50			(3.55	)		0.29			0.35			0.59
Core return on tangible common equity		7.76			(37.31	)		4.70			5.23			8.54
Return on total common equity		3.44			(23.26	)		1.86			2.38			3.52
Net interest margin, fully taxable equivalent		3.24			3.05			2.96			2.91			3.11
Core tangible non-interest income to tangible assets		1.36			1.05			1.16			1.15			1.42
Non-interest income to assets		1.27			0.68			1.08			1.26			1.32
Non-interest income to net revenue		0.32			0.21			0.30			0.33			0.33
Core tangible non-interest expense to tangible assets		3.10			3.20			2.88			2.97			2.86
Non-interest expense to assets		3.02			3.11			2.82			2.99			2.80
Efficiency ratio		70.71			80.61			72.49			75.85			65.23
GROWTH
Total loans, year-to-date (annualized)		4	%		(2	)%		(1	)%		(4	)%		(8	)%
Total deposits, year-to-date (annualized)		10			9			10			13			24
Total net revenues, year-to-date, compared to prior year		2			(8	)		(7	)		(6	)		(5	)
FINANCIAL DATA (In millions)
Total assets	$	2,705		$	2,700		$	2,681		$	2,681		$	2,724
Total loans		1,981			1,962			1,986			1,969			1,969
Allowance for loan losses		32			32			24			23			23
Total intangible assets		175			176			177			178			179
Total deposits		2,037			1,987			1,967			1,951			1,938
Total common stockholders’ equity		385			385			410			408			376
Total core income (loss)		3.3			(23.0	)		1.9			2.0			3.9
Total net income (loss)		3.3			(24.2	)		1.9			2.3			3.9
ASSET QUALITY RATIOS
Net charge-offs (current quarter annualized)/average loans		0.47	%		6.21	%		0.59	%		0.45	%		0.51	%
Non-performing assets/total assets		0.92			1.43			0.85			0.42			0.47
Allowance for loan losses/total loans		1.61			1.62			1.22			1.16			1.16
Allowance for loan losses/non-accruing loans		1.47	x		0.82	x		1.07	x		2.04	x		1.84	x
PER COMMON SHARE DATA
Core earnings (loss), diluted	$	0.24		$	(1.66	)	$	0.14		$	0.15		$	0.27
Net earnings (loss), diluted		0.24			(1.75	)		0.14			(0.08	)		0.27
Tangible common book value		14.97			14.98			16.76			16.52			16.02
Total common book value		27.47			27.64			29.46			29.29			30.54
Market price at period end		18.33			20.68			21.94			20.78			22.92
Dividends		0.16			0.16			0.16			0.16			0.16
CAPITAL RATIOS
Common stockholders’ equity to total assets		14.24	%		14.24	%		15.31	%		15.20	%		13.80	%
Tangible common stockholders’ equity to tangible assets		8.30			8.26			9.32			9.18			7.74

(1)	Reconciliation of Non-GAAP financial measures, including all references to core and tangible amounts, appear on page F-9. Tangible assets are total assets less total intangible assets.
(2)	All performance ratios are annualized and are based on average balance sheet amounts, where applicable.

F-6

BERKSHIRE HILLS BANCORP, INC.
AVERAGE BALANCES

	Quarters Ended
	Mar. 31,		Dec 31,		Sept. 30,		June 30,		Mar. 31,
(In thousands)	2010		2009		2009		2009		2009
Assets
Loans:
Residential mortgages	$	614,561	$	620,105	$	621,632	$	637,232	$	675,905
Commercial mortgages		855,828		869,087		832,716		810,421		804,109
Commercial business loans		170,322		186,898		177,720		173,486		173,055
Consumer loans		311,409		319,087		329,177		338,506		343,296
Total loans		1,952,120		1,995,177		1,961,245		1,959,645		1,996,365
Securities		411,957		407,144		384,204		346,274		335,414
Short-term investments		7,420		14,293		30,956		73,874		49,966
Total earning assets		2,371,497		2,416,614		2,376,405		2,379,793		2,381,745
Goodwill and other intangible assets		175,711		176,482		177,233		178,164		178,711
Other assets		129,872		112,159		115,223		125,446		113,471
Total assets	$	2,677,080	$	2,705,255	$	2,668,861	$	2,683,403	$	2,673,927
Liabilities and stockholders’ equity
Deposits:
NOW	$	194,928	$	192,693	$	179,837	$	187,174	$	193,038
Money market		542,185		540,539		511,191		483,302		462,518
Savings		223,722		212,402		213,016		210,678		213,074
Time		757,752		768,415		781,732		795,155		762,940
Total interest-bearing deposits		1,718,587		1,714,049		1,685,776		1,676,309		1,631,570
Borrowings and debentures		280,102		272,997		287,812		310,323		365,833
Total interest-bearing liabilities		1,998,689		1,987,046		1,973,588		1,986,632		1,997,403
Non-interest-bearing demand deposits		270,064		279,495		261,592		251,565		232,480
Other liabilities		20,494		25,972		23,716		30,146		32,960
Total liabilities		2,289,247		2,292,513		2,258,896		2,268,343		2,262,843
Total stockholders’ common equity		387,833		412,742		409,965		392,321		374,207
Total stockholders’ preferred equity		—		—		—		22,739		36,877
Total stockholders’ equity		387,833		412,742		409,965		415,060		411,084
Total liabilities and stockholders’ equity	$	2,677,080	$	2,705,255	$	2,668,861	$	2,683,403	$	2,673,927
Supplementary data
Total non-maturity deposits	$	1,230,899	$	1,225,129	$	1,165,636	$	1,132,719	$	1,101,110
Total deposits		1,988,651		1,993,544		1,947,368		1,927,874		1,864,050
Fully taxable equivalent income adj.		646		609		555		562		566

(1) Average balances for securities available-for-sale are based on amortized cost. Total loans include non-accruing loans.

F-7

BERKSHIRE HILLS BANCORP, INC.
AVERAGE YIELDS (Fully Taxable Equivalent — Annualized)

	Quarters Ended
	Mar. 31,			Dec. 31,			Sept. 30,			June 30,			Mar. 31,
	2010			2009			2009			2009			2009
Earning assets
Loans:
Residential mortgages		5.31	%		5.32	%		5.38	%		5.46	%		5.56	%
Commercial mortgages		4.94			4.87			5.02			5.17			5.39
Commercial business loans		4.88			5.30			5.53			5.76			5.96
Consumer loans		4.04			4.20			4.33			4.46			4.64
Total loans		4.91			4.95			5.06			5.19			5.37
Securities		4.06			4.01			4.11			4.58			4.85
Short-term investments		0.20			0.15			0.24			0.24			0.17
Total earning assets		4.75			4.76			4.84			4.94			5.18
Funding liabilities
Deposits:
NOW		0.39			0.40			0.36			0.45			0.40
Money Market		1.02			1.08			1.25			1.42			1.40
Savings		0.32			0.30			0.31			0.34			0.44
Time		2.71			2.88			3.10			3.32			3.43
Total interest-bearing deposits		1.61			1.72			1.89			2.08			2.11
Borrowings and debentures		3.27			4.30			4.48			4.35			4.10
Total interest-bearing liabilities		1.84			2.07			2.27			2.43			2.47
Net interest spread		2.91			2.69			2.57			2.51			2.71
Net interest margin		3.24			3.05			2.96			2.91			3.11
Cost of funds		1.62			1.82			2.00			2.16			2.21
Cost of deposits		1.39			1.48			1.64			1.81			1.84

(1)	Average balances and yields for securities available-for-sale are based on amortized cost.
(2)	Cost of funds includes all deposits and borrowings.

F-8

BERKSHIRE HILLS BANCORP, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

			At or for the Quarters Ended
			Mar. 31,			Dec. 31,			Sept. 30,			June 30,			Mar. 31,
(Dollars in thousands)			2010			2009			2009			2009			2009
Net income (loss)			$	3,336		$	(24,203	)	$	1,922		$	2,331		$	3,883
Adj: Loss (gain) on sale of securities, net				—			—			5			(3	)		2
Less: Merger termination fee				—			—			—			(970	)		—
Adj: Other non-recurring income				—			—			(1	)		(270	)		—
Adj: Loss on prepayment of borrowings, net				—			2,071			—			—			804
Adj: Gain on swap termination				—			—			—			—			(741	)
Plus: Merger related expenses				—			—			—			215			—
Plus: Other non-recurring expense				21			—			—			386			—
Adj: Income taxes				(9	)		(866	)		(2	)		269			(27	)
Total core income (loss)	(A	)	$	3,348		$	(22,998	)	$	1,924		$	1,958		$	3,921
Plus: Amortization of intangible assets				768			779			833			833			833
Total tangible core income (loss)	(B	)	$	4,116		$	(22,219	)	$	2,757		$	2,791		$	4,754
Total non-interest income			$	8,498		$	4,652		$	7,260		$	8,405		$	8,672
Adj: Loss (gain) on sale of securities, net				—			—			5			(3	)		2
Adj: Non-recurring loss				—			2,071			(1	)		(1,240	)		63
Total core non-interest income	(C	)		8,498			6,723			7,264			7,162			8,737
Net interest income				18,297			17,996			17,165			16,724			17,711
Total core revenue	(D	)	$	26,795		$	24,719		$	24,429		$	23,886		$	26,448
Total non-interest expense			$	20,192		$	21,196		$	18,944		$	19,978		$	18,453
Less: Non-recurring expense				(21	)		—			—			(601	)		—
Core non-interest expense	(E	)		20,171			21,196			18,944			19,377			18,453
Less: Amortization of intangible assets				(768	)		(779	)		(833	)		(833	)		(833	)
Total core tangible non-interest expense	(F	)	$	19,403		$	20,417		$	18,111		$	18,544		$	17,620
(Dollars in millions, except per share data)
Total average assets			$	2,677		$	2,705		$	2,669		$	2,683		$	2,674
Less: Average intangible assets				(176	)		(176	)		(177	)		(178	)		(179	)
Total average tangible assets	(G	)	$	2,501		$	2,529		$	2,492		$	2,505		$	2,495
Total average stockholders’ equity			$	388		$	413		$	410		$	415		$	411
Less: Average intangible assets				(176	)		(176	)		(177	)		(178	)		(179	)
Total average tangible stockholders’ equity				212			236			233			237			232
Less: Average preferred equity				—			—			—			(23	)		(37	)
Total average tangible common stockholders’ equity	(H	)	$	212		$	236		$	233		$	214		$	195
Total stockholders’ equity, period-end			$	385		$	385		$	410		$	408		$	413
Less: Intangible assets, period-end				(175	)		(176	)		(177	)		(178	)		(179	)
Total tangible stockholders’ equity, period-end				210			208			233			230			234
Less: Preferred equity, period-end				—			—			—			—			(37	)
Total tangible common stockholders’ equity, period-end	(I	)	$	210		$	208		$	233		$	230		$	197
Total common shares outstanding, period-end (thousands)	(J	)		14,027			13,916			13,928			13,916			12,306
Average diluted common shares outstanding (thousands)	(K	)		13,858			13,817			13,857			12,946			12,247
Core earnings (loss) per common share, diluted (1)	(A/K	)	$	0.24		$	(1.66	)	$	0.14		$	0.15		$	0.27
Tangible book value per common share, period-end	(I/J	)	$	14.97		$	14.98		$	16.76		$	16.52		$	16.02
Core return on tangible assets	(B/G	)		0.66	%		(3.49	)%		0.44	%		0.45	%		0.77	%
Core return on tangible common equity (1)	(B/H	)		7.76			(37.31	)		4.70			5.23			8.54
Core tangible non-interest income to tangible assets	(C/G	)		1.36			1.05			1.16			1.15			1.42
Core tangible non-interest expense to tangible assets	(F/G	)		3.10			3.20			2.88			2.97			2.86
Efficiency ratio (2)				70.71			80.61			72.49			75.85			65.23

(1)	March 31, 2009 EPS and ratios include a $637,000 reduction in core income and tangible core income related to cumulative preferred stock dividend and accretion. Preferred dividend charges recorded in Q2 2009 were deemed non-core due to preferred stock repayment.
(2)	Efficiency ratio is computed by dividing total tangible core non-interest expense by the sum of total net interest income on a fully taxable equivalent basis and total core non-interest income. The Company uses this non-GAAP measure, which is used widely in the banking industry, to provide important information regarding its operational efficiency.
(3)	Ratios are annualized and based on average balance sheet amounts, where applicable.
(4)	Quarterly data may not sum to year-to-date data due to rounding.

F-9