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Small Business Association Announces 2009 Massachusetts Lender Awards

PITTSFIELD, Mass.--(BUSINESS WIRE)-- Berkshire Bank, America's Most Exciting Bank^SM, announced today that it has been named the "#1 Lender to Women in the Commonwealth of Massachusetts" by the Small Business Association (SBA) of Massachusetts. Berkshire was recognized by the SBA for awarding 53 percent of its SBA program loans to women-owned enterprises.

"According to the SBA, there are an estimated 10 million women-owned, privately-held U.S. businesses; however, the greatest challenge for these firms is access to capital, credit and equity," said Michael P. Daly, President & CEO of Berkshire Bank. "We are honored to have a part in this growing trend, but we are only a small part of the equation and the real winners are the female entrepreneurs furthering their dreams of business ownership or expansion."

Berkshire Bank was one of more than 150 banks considered for the recognition and only one of 15 selected to be recognized at SBA's Massachusetts annual meeting on Wednesday, October 28. The award ceremony featured keynote speeches by Michael J. Hunter, Massachusetts Undersecretary for Business Development and Jeanne A. Hulit, the recently appointed New England SBA Regional Administrator.

In fiscal year 2009, the Massachusetts District office guaranteed a total of 1,416 loans for $269 million through its two main loan programs, the 7(a) Loan Guaranty Program and the Certified Development Company/504 Loan Program. To be considered for one of 15 awards, banks were required to be SBA-approved lenders and to have awarded 15 or more SBA loans this year.

BACKGROUND

Berkshire Hills Bancorp (NASDAQ: BHLB) is headquartered in Pittsfield, Massachusetts. It has approximately $2.7 billion in assets and is the parent of Berkshire Bank - America's Most Exciting Bank^SM. Berkshire provides personal and business banking, insurance, wealth management, and investment services through 46 banking and insurance financial centers in western Massachusetts, northeastern New York, and southern Vermont. Berkshire Bank also offers the added benefit of providing its depositors 100 percent insurance protection, regardless of amount, based on a combination of FDIC insurance and the Depositors Insurance Fund (DIF). For more information, visit www.berkshirebank.com or call 800-773-5601.

    Source: Berkshire Hills Bancorp