Exhibit 99.1

Berkshire Hills Reports 20% Increase in Fourth Quarter Core EPS;

 Dividend Increased; Annual Meeting Date Set

PITTSFIELD, MASS, January 26, 2015 — Berkshire Hills Bancorp, Inc. (NYSE: BHLB) reported a 20% increase in fourth quarter core earnings per share to $0.48 in 2014 compared to $0.40 in 2013.  Earnings growth was driven by a 17% increase in core revenue as the Company expanded operations in its footprint.   Fourth quarter GAAP EPS increased by 10% to $0.46 as earnings in both years were impacted by non-core charges related primarily to growth and restructuring.

For the year, core earnings per share totaled $1.80 in 2014.  Core earnings decreased by 4% from $1.87 per share in 2013 as volume growth was offset by lower margins in the first half of the year.  GAAP EPS totaled $1.36 in 2014 and $1.65 in 2013.

FOURTH QUARTER FINANCIAL HIGHLIGHTS (comparisons are to prior quarter unless otherwise stated):

·              4% increase in core earnings per share

·              8% annualized increase in net revenue

·             17% year over year increase in fee income, with growth in all major categories

·              11% annualized increase in total loans

·              8% annualized increase in deposits

·              12% annualized increase in demand deposits

·              0.37% non-performing assets/assets

·              0.29% net loan charge-offs/average loans

CEO Michael Daly stated, “We finished the year on pace, with growth of 2 cents per share in core earnings in each of the last four quarters.  We delivered on the market share opportunities of our expanded footprint.  Momentum continued in the fourth quarter, with strong growth in revenue, loans, and deposits compared to the linked quarter.”

Mr. Daly continued, “We are well-positioned for further expansion in our footprint.  During the fourth quarter, Hampden Bancorp entered a merger agreement with us, which will deepen our presence in the Springfield market and the Hartford/Springfield economic area.  This merger is targeted for completion in the second quarter of 2015.  Our Westborough branch opened in October, completing the build out of this regional office serving the Worcester area and our Central Massachusetts market.  Our teams are

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building business volumes in Eastern Massachusetts and in New York, where earlier in the year we acquired 20 branches serving our Central and Eastern New York markets.”

Mr. Daly concluded, “Our core return on assets improved during the year as we leveraged our franchise investment.  In the fourth quarter, our active balance sheet management produced an increase in our net interest margin, while our close focus on expense control improved our efficiency ratio.    We are targeting to extend these gains as we integrate our in-market merger with Hampden in 2015, and our teams across our franchise are delivering the right solutions for our markets and our investors.  In recognition of our progress and prospects, I’m pleased to also be announcing a 6% increase in our quarterly dividend to shareholders.”

DIVIDEND INCREASED

The Board of Directors voted to declare 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.

ANNUAL MEETING DATE SET

The Board of Directors voted that the Annual Meeting of Shareholders shall be held on May 7, 2015 at the Crowne Plaza Hotel, One West Street, Pittsfield, Massachusetts at 10:00 a.m. The date of March 12, 2015 was established as the record date for the determination of the shareholders entitled to notice of, and to vote at, the Annual Meeting.

FINANCIAL CONDITION

Fourth quarter results demonstrated strong loan growth funded by solid deposit growth and supported by capital generation that also strengthened the capital foundation.  Loan growth was 11% annualized in the fourth quarter and 12% for the year 2014.  Organic deposit growth was 8% annualized in the fourth quarter.  Including the deposits from acquired branches, total deposits increased by 21% for the year.  As a result, the ratio of loans/deposits decreased during the year, measuring 101% at year-end.  The ratio of tangible equity to assets measured 7.0% at year-end, with total equity/assets measuring 10.9%.  Most capital ratios are targeted to increase with the acquisition of Hampden Bancorp.  Tangible book value per share increased by 6% to $17.19 in 2014 while total book value per share increased by 4% to $28.17.  Berkshire continues to manage its balance sheet with the objective of benefiting from expected future interest rate increases.

Berkshire’s 11% annualized fourth quarter loan growth resulted primarily from 15% annualized commercial loan growth, which matched the full year growth rate.  Commercial growth was concentrated in diversified commercial and industrial loans in the fourth quarter, while for the full year commercial balances increased primarily due to

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higher commercial real estate loans.  Residential mortgage balances advanced at a 14% annualized rate in the fourth quarter, including the benefit of stronger demand in the second half of the year.  Residential mortgage growth was 8% for the year.  Consumer loans grew by 11% for the year and declined by 5% annualized in the fourth quarter due to a planned de-emphasis of the auto loan portfolio.

Asset quality metrics remained favorable.  Annualized net loan charge-offs measured 0.29% of average loans for the quarter.   Quarter-end non-performing assets decreased to 0.37% of total assets and accruing delinquent loans measured 0.52% of total loans.  The loan loss allowance was 0.76% of total loans; approximately 16% of quarter-end loans were balances recorded at fair value in recent bank acquisitions.

Annualized fourth quarter deposit growth of 8% included increases in all major categories.  Growth was primarily in relationship oriented transaction accounts, with a concentration in new commercial balances.  Full year deposit growth of 21% included 11% related to balances totaling $440 million in acquired New York branches.

RESULTS OF OPERATIONS

The fourth quarter core return on tangible equity increased to 12.0% in 2014 compared to 10.5% in 2013.  Net non-core charges in both periods were primarily related to acquisition and restructuring activity.  GAAP return on equity improved to 6.5% from 6.2% in the above respective periods and the efficiency ratio improved to 62.5% from 63.2%.

The 20% year over year increase in fourth quarter core earnings per share reflected the benefit of 17% growth in core revenue, with an identical percentage increase in both net interest income and fee income.   This resulted primarily from volume growth in Berkshire’s footprint, particularly in newer markets in Eastern Massachusetts and Central New York.  Fee income grew in all major categories, including a 30% increase in deposit related fees primarily from the New York branch acquisition.

Compared to the linked quarter, growth in core earnings per share was primarily driven by 4% growth in net interest income.  This included the benefit of volume growth, together with an expansion of the net interest margin to 3.23% compared to 3.20% in the linked quarter; the margin was 3.26% in the fourth quarter of 2013.  Net interest income includes purchased loan accretion which is largely comprised of recoveries on the resolution of impaired loans acquired in previous bank acquisitions.  This accretion totaled $1.7 million in the most recent quarter, compared to $1.2 million in the linked quarter and $2.4 million in the fourth quarter of 2013.  Fourth quarter non-interest income was down 3% from the linked quarter, with seasonally lower fee income mostly offset by distributions from equity investments.

The loan loss provision totaled $3.9 million in the fourth quarter.  Net loan charge-offs were $3.2 million, and the loan loss allowance increased by $0.7 million to $35.7 million.

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Fourth quarter core non-interest expense increased by 1% over the prior quarter to $39.9 million.  Non-core expense increased due to the pending Hampden merger.  Full time equivalent staff totaled 1,091 at year-end.  The core tax rate was 29% and the GAAP tax rate of 25% was due to the full year impact of the first quarter branch acquisition charges.

CONFERENCE CALL

Berkshire will conduct a conference call/webcast at 10:00 a.m. eastern time on Tuesday, January 27, 2015 to discuss the results for the quarter and provide guidance about expected future results. Participants should dial-in to the call 10-15 minutes before it begins. Information about the conference call follows:

Dial-in:  888-317-6003

Elite Entry Number:  1730849

Webcast:  berkshirebank.com (investor relations link)

A telephone replay of the call will be available through Wednesday, February 4, 2015 by calling 877-344-7529 and entering conference number: 10058299 The webcast will be available at Berkshire’s website above for an extended period of time.  A print-friendly version of this news release will be available at the web link shown above.

BACKGROUND

Berkshire Hills Bancorp is the parent of Berkshire Bank — America’s Most Exciting Bank®.  The Company has $6.5 billion in assets and 91 full-service branch offices in Massachusetts, New York, Connecticut, and Vermont providing personal and business banking, insurance, and wealth management services.  Berkshire has a pending agreement to acquire Hampden Bancorp, the parent of Hampden Bank, which has $706 million in assets and operates ten offices in the Springfield, Massachusetts area.

FORWARD LOOKING STATEMENTS

This document contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  There are several factors that could cause actual results to differ significantly from expectations described in the forward-looking statements. For a discussion of such factors, please see Berkshire’s most recent reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission and available on the SEC’s website at www.sec.gov.  Berkshire does not undertake any obligation to update forward-looking statements.

ADDITIONAL INFORMATION FOR STOCKHOLDERS

In connection with the proposed merger with Hampden Bancorp, Berkshire has filed with the Securities and Exchange Commission (“SEC”) a Registration Statement on Form S-4 that includes a Proxy Statement of Hampden and a Prospectus of Berkshire, as well as other relevant documents concerning the proposed merger. Investors and stockholders are

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urged to read the Registration Statement and the Proxy Statement/Prospectus regarding the proposed merger and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they will contain important information. A free copy of the Registration Statement and Proxy Statement/Prospectus, as well as other filings containing information about Berkshire and Hampden, when they become available, may be obtained at the SEC’s Internet site (www.sec.gov). Copies of the Registration Statement and Proxy Statement/Prospectus and the filings that will be incorporated by reference therein may also be obtained, free of charge, from Berkshire’s website at ir.berkshirebank.com or by contacting Berkshire Investor Relations at 413-236-3149 or from Hampden’s website at www.hampdenbank.com and selecting the “Investor Relations” link or by contacting Hampden Investor relations at 413-452-5150.

PARTICIPANTS IN SOLICITATION

Berkshire and Hampden and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Hampden in connection with the proposed merger. Information about the directors and executive officers of Berkshire is set forth in the proxy statement for Berkshire’s 2014 annual meeting of stockholders, as filed with the SEC on a Schedule 14A on April 1 and in the Form 8-k filed with the SEC on June 30, 2014. Information about the directors and executive officers of Hampden is set forth in the proxy statement for Hampden’s 2014 annual meeting of stockholders, as filed with the SEC on a Schedule 14A on September 26, 2014 and additional filings reporting results of the annual meeting on November 4, 2014. Additional information regarding the interests of those participants and other persons who may be deemed participants in the transaction and a description of their direct and indirect interests, by security holdings or otherwise, may be obtained by reading the Proxy Statement/Prospectus and other relevant documents regarding the proposed merger filed with the SEC (when they become available). Free copies of these documents may be obtained as described in the preceding paragraph.

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 securities gains/losses, losses recorded for hedge terminations, merger costs, restructuring costs, systems conversion costs, and out-of-period adjustments.  Non-core adjustments are presented net of an adjustment for income

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tax expense.  This adjustment in 2013 was based on the marginal tax rate applied to the net non-core pre-tax adjustments.  In 2014, due to the comparative magnitude of the non-core items, this adjustment was determined as the difference between the GAAP tax rate and the effective tax rate applicable to core income.  Accordingly, GAAP net income exceeded core income in two quarters due to the higher effective full year tax rate on core income before the net non-core charges.  The efficiency ratio is adjusted for non-core revenue and expense items and for tax preference items.  The Company also calculates measures related to tangible equity, which adjust equity (and assets where applicable) to exclude intangible assets due to the importance of these measures to the investment community.  Charges related to merger and acquisition activity consist primarily of severance/benefit related expenses, contract termination costs, and professional fees.  Systems conversion costs relate primarily to the Company’s core systems conversion and related systems conversions costs.   Restructuring costs primarily consist of employee severance costs, as well as costs and losses associated with the disposition of assets which were undertaken as a project to right-size expenses following a decline in revenue in 2013.  Out-of-period accounting adjustments for interest income on acquired loans were recorded following systems conversions and merger related accounting activity and were deemed non-core.  Other non-core expenses include variable rate compensation related to non-core items as well as expenses related to the Bank’s charter change.

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CONTACTS

Investor Relations Contact

Allison O’Rourke, Senior Vice President - Investor Relations; 413-236-3149

Media Contact

Ray Smith, Assistant Vice President - Marketing; 413-236-3756

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BERKSHIRE HILLS BANCORP, INC.

CONSOLIDATED BALANCE SHEETS - UNAUDITED - (F-1)

(1)         The Company acquired 20 branches in Central New York on January 17, 2014, including $440 million in deposits and $4 million in loans.

F-1

BERKSHIRE HILLS BANCORP, INC.

CONSOLIDATED LOAN & DEPOSIT ANALYSIS - UNAUDITED - (F-2)

LOAN ANALYSIS

DEPOSIT ANALYSIS

(1)         The Company acquired 20 branches in Central New York on January 17, 2014, including $440 million in deposits, as shown above, and $4 million in loans.

F-2

BERKSHIRE HILLS BANCORP, INC.

CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED - (F-3)

(1)         The Company acquired 20 branches in Central New York on January 17, 2014. The income statement for the three months ended March 31, 2014 includes operations of the branch acquisition beginning on that date.

(2)         Merger, restructuring and conversion expenses include branch acquisition related expenses and bank charter change related expenses.

F-3

BERKSHIRE HILLS BANCORP, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED - (F-4)

(1) See notes on Page F-3

F-4

BERKSHIRE HILLS BANCORP, INC.

ASSET QUALITY ANALYSIS - UNAUDITED - (F-5)