Berkshire Hills CEO Discussed Company's Plans to Increase Core Earnings per Share by 40-50% in 2011

Berkshire Hills Bancorp, Inc. BHLB held its annual meeting of shareholders on May 5 in Pittsfield, Massachusetts. President and CEO Michael P. Daly reported on Berkshire's recent accomplishments and outlook. He discussed Berkshire's plans to increase core earnings per share by 40-50% in 2011, and noted a 25% increase in core earnings in the most recent quarter. He reviewed the Company's strong capital, liquidity, and asset quality. Mr. Daly reported on the progress towards completing the pending merger with Legacy Bancorp in the third quarter of 2011 and summarized Berkshire's financial goals, including achieving a $2.00 core earnings per share run rate by the end of 2012. He also reported that Berkshire's stock produced a 10.5% total return to shareholders in 2010, maintaining a five year total stock return above the industry average.