Berkshire Hills Bancorp Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net income of $11,398,000 or $0.46 per basic and diluted share on total net revenue of $60,847,000 compared to net income of $10,537,000 or $0.42 per diluted share on total net revenue of $55,556,000 for the corresponding period last year.

For the year, the company reported the company reported net income of $33,744,000 or $1.36 per basic and diluted share on total net revenue of $226,461,000 compared to net income of $41,143,000 or $1.65 per diluted share on total net revenue of $226,984,000 for the corresponding period last year. Core return on assets was 0.75% compared to 0.73% a year ago. Return on assets was 0.71% compared to 0.77% a year ago. Core return on equity was 6.89% compared to 5.87% a year ago. Core return on tangible equity was 11.96% compared to 10.47% a year ago. Return on tangible equity was 6.52% compared to 6.18% a year ago. Tangible book value was $17.19 against $16.27 a year ago. Total book value per share increased by 4% to $28.17. 

The Board of Directors of the company declared a cash dividend of $0.19 per share to shareholders of record at the close of business on February 12, 2015, payable on February 26, 2015. This is a penny increase from $0.18 and the new dividend equates to a 3.0% annualized yield based on the $25.05 average closing price of Berkshire's common stock during the fourth quarter.