<SEC-DOCUMENT>0000943374-21-000302.txt : 20210629
<SEC-HEADER>0000943374-21-000302.hdr.sgml : 20210629
<ACCEPTANCE-DATETIME>20210629172851
ACCESSION NUMBER:		0000943374-21-000302
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20201231
FILED AS OF DATE:		20210629
DATE AS OF CHANGE:		20210629

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BERKSHIRE HILLS BANCORP INC
		CENTRAL INDEX KEY:			0001108134
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036]
		IRS NUMBER:				043510455
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15781
		FILM NUMBER:		211059330

	BUSINESS ADDRESS:	
		STREET 1:		60 STATE STREET
		STREET 2:		38TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		617-641-9206

	MAIL ADDRESS:	
		STREET 1:		60 STATE STREET
		STREET 2:		38TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>form11k_2020.htm
<DESCRIPTION>BERKSHIRE HILLS BANCORP, INC. FORM 11-K DECEMBER 31, 2020
<TEXT>
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    <div style="text-align: center; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-weight: bold;">WASHINGTON, D.C. 20549</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">FORM 11-K</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS</div>
    <div style="text-align: center; font-weight: bold;">AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE</div>
    <div style="text-align: center; font-weight: bold;">SECURITIES EXCHANGE ACT OF 1934</div>
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    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8f72ecb431044bb5b806914f0338f2f6">

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            <div>ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.</div>
          </td>
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    </div>
    <div style="text-align: justify;">For the fiscal year ended <u>December 31, 2020</u></div>
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    <div style="text-align: center; font-weight: bold;">OR</div>
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          <td style="width: 36pt; vertical-align: top; align: right;">&#9744;</td>
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            <div>TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.</div>
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    <div><br>
    </div>
    <div>For the transition period from _______________ to _______________</div>
    <div><br>
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    <div style="text-align: center; font-weight: bold;">Commission File Number <u>001-15781</u></div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">A.&#160; Full title of the plan and the address of the plan, if different from that of the issuer named below:</div>
    <div><br>
    </div>
    <div style="text-align: center;">Berkshire Bank 401(k) Plan</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">B:&#160; Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:</div>
    <div><br>
    </div>
    <div style="text-align: center;">Berkshire Hills Bancorp, Inc.</div>
    <div style="text-align: center;">60 State Street</div>
    <div style="text-align: center;">Boston, Massachusetts 01209</div>
    <div style="text-align: center;"> <br>
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              <div style="text-align: center; font-size: 12pt;"> <br>
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      <table cellspacing="0" cellpadding="0" id="zd2d83034c8af4767b2536fd772165095" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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              <div style="text-align: center; margin-left: 1pt; font-family: 'Times New Roman',Times,serif; font-size: 24pt; font-weight: bold;">BERKSHIRE BANK 401(k) PLAN</div>
            </td>
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                <div style="margin-right: 7.65pt; margin-left: 7.7pt;"> <br>
                </div>
                <div style="margin-right: 7.65pt; margin-left: 7.7pt;">FINANCIAL STATEMENTS AND</div>
                <div>SUPPLEMENTAL SCHEDULES</div>
                <div> Years Ended December 31, 2020 and 2019</div>
              </div>
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      <div style="text-indent: -0.2pt; margin-right: 159.9pt; margin-left: 159.7pt; margin-top: 4.5pt; font-size: 12pt;">TABLE OF CONTENTS</div>
      <div style="text-indent: -0.2pt; margin-right: 159.9pt; margin-left: 159.7pt; margin-top: 4.5pt; font-size: 12pt;">BERKSHIRE BANK 401(k) PLAN</div>
      <div style="margin-top: 0.15pt;"><br>
      </div>
      <div style="margin-right: 126.85pt; margin-left: 126.5pt; font-size: 12pt;">Financial Statements and Supplemental Schedules</div>
      <div style="margin-right: 126.85pt; margin-left: 126.5pt; font-size: 12pt;">Years Ended December 31, 2020 and 2019</div>
      <div><br>
      </div>
      <div>
        <div style="font-weight: bold; text-align: left;">The following financial information is submitted herewith:</div>
        <div><br>
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                <div> <br>
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                <div> <br>
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                <div>Report of Independent Registered Public Accounting Firm</div>
              </td>
              <td style="width: 11.08%; vertical-align: top;">
                <div style="text-align: center; margin-left: 10.8pt; font-family: 'Times New Roman',Times,serif;"> Page</div>
                <div style="text-align: center; margin-left: 10.8pt; font-family: 'Times New Roman',Times,serif;"> <br>
                </div>
                <div style="text-align: center; margin-left: 10.8pt; font-family: 'Times New Roman',Times,serif;">1-2</div>
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                <div>Statements of Net Assets Available for Benefits</div>
              </td>
              <td style="width: 11.08%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 88.92%; vertical-align: top;">&#160;&#160;&#160; As of December 31, 2020 and 2019</td>
              <td style="width: 11.08%; vertical-align: top; text-align: center;">&#160; &#160;&#160; 3</td>
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                <div style="margin-left: 10.8pt;"><br>
                </div>
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                <div style="text-align: center; margin-left: 10.8pt; font-family: 'Times New Roman',Times,serif;"><br>
                </div>
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              <td style="width: 88.92%; vertical-align: top;">&#160;Statements of Changes in Net Assets Available for Benefits</td>
              <td style="width: 11.08%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 88.92%; vertical-align: top;">
                <div style="margin-left: 10.8pt;">For the Years Ended December 31, 2020 and 2019<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 366.1pt"> <br>
                  </font></div>
              </td>
              <td style="width: 11.08%; vertical-align: top;">
                <div style="text-align: center; margin-left: 10.8pt; font-family: 'Times New Roman',Times,serif;">4<br>
                </div>
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              <td style="width: 11.08%; vertical-align: top;">&#160;</td>
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                <div>Notes to Financial Statements<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 371.7pt"> <br>
                  </font></div>
              </td>
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                <div style="text-align: center; margin-left: 10.8pt; font-family: 'Times New Roman',Times,serif;">5-15<br>
                </div>
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                <div>Supplemental Schedules*:</div>
                <div>&#160;<br>
                </div>
              </td>
              <td style="width: 11.08%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 88.92%; vertical-align: top;">
                <div style="margin-left: 10.8pt;">Schedule H, line 4a &#8211; Schedule of Delinquent Participant Contributions For the Year Ended December 31, 2020 </div>
              </td>
              <td style="width: 11.08%; vertical-align: top;">
                <div style="text-align: center; margin-left: 10.8pt; font-family: 'Times New Roman',Times,serif;">16</div>
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              <td style="width: 88.92%; vertical-align: top; border-bottom: #000000 2px solid;">&#160;&#160;&#160; Schedule H, Line 4i - Schedule of Assets (Held at End of Year) December 31, 2020<br>
              </td>
              <td style="width: 11.08%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">&#160; &#160; 17</td>
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      </div>
      <div style="text-align: left;"> * Other schedules required by Section 2520.103-10 of the Department of Labor&#8217;s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they
        are not applicable. </div>
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      <div style="text-align: right;">
        <!--PROfilePageNumberReset%Num%1%%%--> <font style="font-size: 14pt; font-weight: bold;">Crowe LLP</font><br>
      </div>
      <div style="text-align: right; margin-left: 7pt;">Independent Member Crowe Global<br>
      </div>
      <div style="margin-top: 4.7pt; font-family: 'Times New Roman',Times,serif;"> <br>
      </div>
      <div style="margin-top: 4.7pt; font-family: 'Times New Roman',Times,serif;">REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="text-align: left; margin-right: 207.75pt; margin-left: 6.95pt; margin-top: 9.35pt;">Plan Participants and Plan Administrator of the Berkshire Bank 401(k) Plan Pittsfield, Massachusetts</div>
      <div><br>
      </div>
      <div style="margin-top: 0.4pt;"><br>
      </div>
      <div style="text-align: justify; margin-left: 6.95pt; font-weight: bold;">Opinion on the Financial Statements</div>
      <div style="margin-top: 0.5pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 71.7pt; margin-left: 6.95pt;">We have audited the accompanying statements of net assets available for benefits of the Berkshire Bank 401(k) Plan (the "Plan") as of December 31, 2020 and 2019, the related
        statements of changes in net assets available for benefits for the years then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects,
        the net assets available for benefits of the Plan as of December 31, 2020 and 2019, and the changes in net assets available for benefits for the years then ended, in conformity with accounting principles generally accepted in the United States of
        America.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 6.95pt; font-weight: bold;">Basis for Opinion</div>
      <div style="margin-top: 0.5pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 71.8pt; margin-left: 6.95pt; margin-top: 0.05pt;">These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial
        statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Plan in accordance with the U.S. federal
        securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</div>
      <div style="margin-top: 0.55pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 71.8pt; margin-left: 6.95pt;">We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about
        whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits,
        we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan&#8217;s internal control over financial reporting. Accordingly, we express no such
        opinion.</div>
      <div style="margin-top: 0.5pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 71.75pt; margin-left: 6.95pt; margin-top: 0.05pt;">Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and
        performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used
        and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div>(Continued)<br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">1</font></div>
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      <div>
        <div><br>
        </div>
        <div style="text-align: justify; margin-left: 7pt; margin-top: 3.7pt; font-weight: bold;">Supplemental Information</div>
        <div><br>
        </div>
        <div style="text-align: justify; margin-right: 6.75pt; margin-left: 7pt; margin-top: 0.05pt;">The supplemental Schedule H, Line 4a &#8211; Schedule of Delinquent Participant Contributions for the year ended December 31, 2020 and Schedule H, Line 4i &#8211;
          Schedule of Assets (Held at End of Year) as of December 31, 2020 have been subjected to audit procedures performed in conjunction with the audit of the Berkshire Bank 401(k) Plan&#8217;s financial statements. The supplemental schedules are the
          responsibility of the Plan&#8217;s management. Our audit procedures included determining whether the information presented in the supplemental schedules reconciles to the financial statements or the underlying accounting and other records, as
          applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedules. In forming our opinion on the supplemental schedules, we evaluated whether the supplemental schedules,
          including their form and content, are presented in conformity with the Department of Labor&#8217;s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental schedules
          are fairly stated in all material respects in relation to the financial statements as a whole.</div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><img width="167" height="32" src="image00003.jpg"></div>
        <div><br>
        </div>
        <div style="font-family: 'Times New Roman',Times,serif;">Crowe LLP&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
        </div>
        <div style="text-align: left; margin-top: 2.45pt; font-family: 'Times New Roman',Times,serif;"> <br>
        </div>
        <div style="text-align: left; margin-top: 2.45pt; font-family: 'Times New Roman',Times,serif;">We have served as the Plan's auditor since 2017. </div>
        <div style="text-align: left; margin-right: 254.7pt; margin-left: 7pt; margin-top: 2.45pt;"> <br>
        </div>
        <div style="text-align: left; margin-top: 2.45pt; font-family: 'Times New Roman',Times,serif;">South Bend, Indiana</div>
        <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">June 29, 2021</div>
      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
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      <div><br>
      </div>
      <div style="margin-top: 0.15pt;">
        <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;">BERKSHIRE BANK 401(K) PLAN</div>
      </div>
      <div style="margin-right: 62.15pt; margin-left: 73.75pt; font-size: 12pt; font-weight: bold;"> <br>
      </div>
      <div style="margin-right: 62.15pt; margin-left: 73.75pt; font-size: 12pt; font-weight: bold;">STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS</div>
      <div style="margin-top: 0.25pt;"><br>
      </div>
      <div style="margin-right: 62.1pt; margin-left: 73.75pt; font-size: 12pt; font-weight: bold;">December 31, 2020 and 2019</div>
      <div><br>
      </div>
      <br>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zb36b7a3a6f54415886adb9d974668068">

          <tr>
            <td style="width: 62.34%; vertical-align: top;">&#160;</td>
            <td style="width: 17.14%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 12pt;">2020</div>
            </td>
            <td style="width: 3.38%; vertical-align: top;">&#160;</td>
            <td style="width: 17.14%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 12pt;">2019</div>
            </td>
          </tr>
          <tr>
            <td style="width: 62.34%; vertical-align: top;">&#160;</td>
            <td style="width: 17.14%; vertical-align: top;">&#160;</td>
            <td style="width: 3.38%; vertical-align: top;">&#160;</td>
            <td style="width: 17.14%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 62.34%; vertical-align: top;">
              <div style="font-size: 12pt; font-weight: bold;">ASSETS</div>
            </td>
            <td style="width: 17.14%; vertical-align: top;">&#160;</td>
            <td style="width: 3.38%; vertical-align: top;">&#160;</td>
            <td style="width: 17.14%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 62.34%; vertical-align: top;">
              <div style="font-size: 12pt;">Investments, at fair value</div>
            </td>
            <td style="width: 17.14%; vertical-align: top;">
              <div style="text-align: right; font-size: 12pt;">&#160;$ 168,029,423</div>
            </td>
            <td style="width: 3.38%; vertical-align: top;">&#160;</td>
            <td style="width: 17.14%; vertical-align: top;">
              <div style="text-align: right; font-size: 12pt;">&#160;$ 150,392,573</div>
            </td>
          </tr>
          <tr>
            <td style="width: 62.34%; vertical-align: top;">&#160;</td>
            <td style="width: 17.14%; vertical-align: top;">&#160;</td>
            <td style="width: 3.38%; vertical-align: top;">&#160;</td>
            <td style="width: 17.14%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 62.34%; vertical-align: top;">
              <div style="font-size: 12pt;">Receivables:</div>
            </td>
            <td style="width: 17.14%; vertical-align: top;">&#160;</td>
            <td style="width: 3.38%; vertical-align: top;">&#160;</td>
            <td style="width: 17.14%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 62.34%; vertical-align: top;">
              <div style="font-size: 12pt;">&#160;&#160;&#160;Notes receivable from participants</div>
            </td>
            <td style="width: 17.14%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,205,480</div>
            </td>
            <td style="width: 3.38%; vertical-align: top;">&#160;</td>
            <td style="width: 17.14%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,777,340</div>
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          </tr>
          <tr>
            <td style="width: 62.34%; vertical-align: top;">
              <div style="font-size: 12pt;">&#160;&#160;&#160;Total receivables</div>
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            <td style="width: 17.14%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,205,480</div>
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            <td style="width: 3.38%; vertical-align: top;">&#160;</td>
            <td style="width: 17.14%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,777,340</div>
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          <tr>
            <td style="width: 62.34%; vertical-align: top;">
              <div style="font-size: 12pt;">Net assets available for benefits</div>
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            <td style="width: 17.14%; vertical-align: top; border-bottom: #000000 4px double;">
              <div style="text-align: right; font-size: 12pt;">&#160;$ 170,234,903</div>
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            <td style="width: 3.38%; vertical-align: top;">&#160;</td>
            <td style="width: 17.14%; vertical-align: top; border-bottom: #000000 4px double;">
              <div style="text-align: right; font-size: 12pt;">&#160;$ 153,169,913</div>
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          </tr>
          <tr>
            <td style="width: 62.34%; vertical-align: top;">&#160;</td>
            <td style="width: 17.14%; vertical-align: top;">&#160;</td>
            <td style="width: 3.38%; vertical-align: top;">&#160;</td>
            <td style="width: 17.14%; vertical-align: top;">&#160;</td>
          </tr>

      </table>
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      <div><br>
      </div>
      <div style="text-align: left; margin-left: 5pt; margin-top: 10.75pt; font-size: 12pt;">See accompanying notes to financial statements.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <br>
      <div style="margin-right: 29.85pt; margin-left: 34.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">BERKSHIRE BANK 401(K) PLAN</div>
      <div style="margin: 0px 29.85pt 0px 34.35pt; font-size: 12pt; font-weight: bold;"> <br>
      </div>
      <div style="margin-right: 29.85pt; margin-left: 34.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS</div>
      <div style="margin-top: 0.1pt;"><br>
      </div>
      <div style="margin-right: 29.85pt; margin-left: 34.35pt; font-size: 12pt; font-weight: bold;">For the Years Ended December 31, 2020 and 2019</div>
      <div style="margin-top: 0.2pt;"><br>
      </div>
      <div style="text-align: left; margin-left: 320.2pt; margin-top: 4.8pt;"><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 26.55pt">&#160;</font></div>
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        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="za9d6752b91464946bb0c703f37508582">

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              <td style="width: 66.06%; vertical-align: top;">&#160;</td>
              <td style="width: 15.99%; vertical-align: top; border-bottom: #000000 2px solid;">
                <div style="text-align: center; font-size: 12pt;">2020</div>
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              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top; border-bottom: #000000 2px solid;">
                <div style="text-align: center; font-size: 12pt;">2019</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">&#160;</td>
              <td style="width: 15.99%; vertical-align: top;">&#160;</td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">
                <div style="font-size: 12pt;">Additions to net assets attributed to:</div>
              </td>
              <td style="width: 15.99%; vertical-align: top;">&#160;</td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">&#160;</td>
              <td style="width: 15.99%; vertical-align: top;">&#160;</td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">
                <div style="font-size: 12pt;">Investment income:</div>
              </td>
              <td style="width: 15.99%; vertical-align: top;">&#160;</td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">
                <div style="font-size: 12pt; margin-left: 9pt;">Dividends and interest</div>
              </td>
              <td style="width: 15.99%; vertical-align: top;">
                <div style="text-align: right; font-size: 12pt;">&#160;$&#160; &#160;&#160; 4,413,840</div>
              </td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">
                <div style="text-align: right; font-size: 12pt;">&#160;$&#160; &#160;&#160; 4,087,322</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top; padding-bottom: 2px;">
                <div style="font-size: 12pt; margin-left: 9pt;">Net appreciation in fair value of investments</div>
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              <td style="width: 15.99%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;15,906,316</div>
              </td>
              <td style="width: 1.95%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td style="width: 16%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;22,885,325</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">
                <div style="font-size: 12pt; margin-left: 18pt;">Total investment income</div>
              </td>
              <td style="width: 15.99%; vertical-align: top; border-bottom: #000000 2px solid;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;20,320,156</div>
              </td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top; border-bottom: #000000 2px solid;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;26,972,647</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">
                <div style="font-size: 12pt;">Other income:</div>
              </td>
              <td style="width: 15.99%; vertical-align: top;">&#160;</td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top; padding-bottom: 2px;">
                <div style="font-size: 12pt; margin-left: 9pt;">Interest income on notes receivable from participants</div>
              </td>
              <td style="width: 15.99%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;129,762</div>
              </td>
              <td style="width: 1.95%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td style="width: 16%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;168,560</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">
                <div style="font-size: 12pt; margin-left: 18pt;">Total other income</div>
              </td>
              <td style="width: 15.99%; vertical-align: top; border-bottom: #000000 2px solid;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;129,762</div>
              </td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top; border-bottom: #000000 2px solid;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;168,560</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">
                <div style="font-size: 12pt; margin-left: 18pt;">Total income</div>
              </td>
              <td style="width: 15.99%; vertical-align: top;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;20,449,918</div>
              </td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;27,141,207</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">&#160;</td>
              <td style="width: 15.99%; vertical-align: top;">&#160;</td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">
                <div style="font-size: 12pt;">Contributions:</div>
              </td>
              <td style="width: 15.99%; vertical-align: top;">&#160;</td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">
                <div style="font-size: 12pt; margin-left: 9pt;">Employer</div>
              </td>
              <td style="width: 15.99%; vertical-align: top;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3,468,991</div>
              </td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;4,150,698</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">
                <div style="font-size: 12pt; margin-left: 9pt;">Participants</div>
              </td>
              <td style="width: 15.99%; vertical-align: top;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;7,941,366</div>
              </td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;9,139,387</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top; padding-bottom: 2px;">
                <div style="font-size: 12pt; margin-left: 9pt;">Rollover</div>
              </td>
              <td style="width: 15.99%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,605,658</div>
              </td>
              <td style="width: 1.95%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td style="width: 16%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5,066,063</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">
                <div style="font-size: 12pt; margin-left: 18pt;">Total contributions</div>
              </td>
              <td style="width: 15.99%; vertical-align: top; border-bottom: #000000 2px solid;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;13,016,015</div>
              </td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top; border-bottom: #000000 2px solid;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;18,356,148</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">&#160;</td>
              <td style="width: 15.99%; vertical-align: top;">&#160;</td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">
                <div style="font-size: 12pt; margin-left: 27pt;">Total additions</div>
              </td>
              <td style="width: 15.99%; vertical-align: top; border-bottom: #000000 2px solid;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;33,465,933</div>
              </td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top; border-bottom: #000000 2px solid;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;45,497,355</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">&#160;</td>
              <td style="width: 15.99%; vertical-align: top;">&#160;</td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">
                <div style="font-size: 12pt;">Deductions from net assets attributed to:</div>
              </td>
              <td style="width: 15.99%; vertical-align: top;">&#160;</td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">
                <div style="font-size: 12pt; margin-left: 9pt;">Withdrawals and benefits paid to participants</div>
              </td>
              <td style="width: 15.99%; vertical-align: top;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;16,347,172</div>
              </td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;14,612,109</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top; padding-bottom: 2px;">
                <div style="font-size: 12pt; margin-left: 9pt;">Administrative fees</div>
              </td>
              <td style="width: 15.99%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;53,771</div>
              </td>
              <td style="width: 1.95%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td style="width: 16%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;39,448</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">
                <div style="font-size: 12pt; margin-left: 18pt;">Total deductions</div>
              </td>
              <td style="width: 15.99%; vertical-align: top; border-bottom: #000000 2px solid;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;16,400,943</div>
              </td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top; border-bottom: #000000 2px solid;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;14,651,557</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">&#160;</td>
              <td style="width: 15.99%; vertical-align: top;">&#160;</td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">
                <div style="font-size: 12pt;">Net increase in net assets available for benefits</div>
              </td>
              <td style="width: 15.99%; vertical-align: top;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;17,064,990</div>
              </td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;30,845,798</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">&#160;</td>
              <td style="width: 15.99%; vertical-align: top;">&#160;</td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">
                <div style="font-size: 12pt;">Net assets available for benefits at beginning of year</div>
              </td>
              <td style="width: 15.99%; vertical-align: top; border-bottom: #000000 2px solid;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;153,169,913</div>
              </td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top; border-bottom: #000000 2px solid;">
                <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;122,324,115</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">
                <div style="font-size: 12pt;">Net assets available for benefits at end of year</div>
              </td>
              <td style="width: 15.99%; vertical-align: top; border-bottom: #000000 4px double;">
                <div style="text-align: right; font-size: 12pt;">&#160;$ 170,234,903</div>
              </td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top; border-bottom: #000000 4px double;">
                <div style="text-align: right; font-size: 12pt;">&#160;$ 153,169,913</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">&#160;</td>
              <td style="width: 15.99%; vertical-align: top;">&#160;</td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">&#160;</td>
              <td style="width: 15.99%; vertical-align: top;">&#160;</td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;">&#160;</td>
              <td style="width: 15.99%; vertical-align: top;">&#160;</td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 66.06%; vertical-align: top;"><br>
              </td>
              <td style="width: 15.99%; vertical-align: top;">&#160;</td>
              <td style="width: 1.95%; vertical-align: top;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">&#160;</td>
            </tr>

        </table>
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      <div><br>
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      <div><br>
      </div>
      <div><br>
      </div>
      <div style="text-align: left; margin-left: 5pt; margin-top: 0.05pt; font-size: 12pt;">See accompanying notes to financial statements.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">4</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div><br>
      </div>
      <div style="margin-top: 0.25pt;"><br>
      </div>
      <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">BERKSHIRE BANK 401(K) PLAN</div>
      <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS</div>
      <div style="margin-top: 0.1pt;"><br>
      </div>
      <div style="margin-right: 126.7pt; margin-left: 126.5pt; font-size: 12pt; font-weight: bold;">December 31, 2020 and 2019</div>
      <div style="margin-top: 0.1pt;"><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="zcbbe454146aa472a8674ba17e59c7aa5" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 33.8pt; vertical-align: top; align: right;">
                <div style="margin-left: 5pt; font-size: 12pt; font-weight: bold;">1.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-size: 12pt; font-weight: bold;">DESCRIPTION OF THE PLAN</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 33.8pt; font-size: 12pt;">The Berkshire Bank 401(k) Plan (the &#8220;Plan&#8221;) was established on April 1, 1993.</div>
      <div style="margin-top: 0.25pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.35pt; margin-left: 33.8pt; font-size: 12pt;">The following brief description of the Plan is provided for general information purposes only. Participants should refer to the Plan agreement for a more
        complete description of the Plan&#8217;s provisions.</div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="text-align: justify; margin-left: 33.8pt; font-size: 12pt; font-style: italic; font-weight: bold;">General</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-right: 5.2pt; margin-left: 33.8pt; font-size: 12pt;">The Plan is a defined contribution plan covering all eligible employees of Berkshire Bank and subsidiaries (the &#8220;Bank&#8221; or the &#8220;Plan Sponsor&#8221;). The Plan is
        subject to the provisions of the Employee Retirement Income Security Act of 1974 (&#8220;ERISA&#8221;), as amended. Vanguard Fiduciary Trust Company serves as the Trustee of the Plan. The Vanguard Group (&#8220;Vanguard&#8221; or the &#8220;Custodian&#8221;) is the financial advisor,
        record keeper, and custodian of the Plan.</div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="text-align: justify; margin-left: 33.8pt; font-size: 12pt; font-style: italic; font-weight: bold;">Contributions</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-right: 5.2pt; margin-left: 32pt; margin-top: 0.05pt; font-size: 12pt;">Each year, participants may contribute a percent of pretax annual compensation, excluding certain types of restricted compensation, subject
        to certain limitations as defined by the Plan and the Internal Revenue Code (&#8220;IRC&#8221;).&#160; The maximum participant deferral was $19,500 and</div>
      <div style="text-align: justify; margin-right: 5.2pt; margin-left: 32pt; font-size: 12pt;">$19,000 for the Plan years ended December 31, 2020 and 2019, respectively. In addition, all employees who are eligible to make salary reductions under the Plan
        and who have attained age 50 before the close of the Plan year are eligible to make catch-up contributions, as defined by the Economic Growth and Tax Relief Reconciliation Act of 2001. Participants may also contribute rollover amounts representing
        distributions from other qualified retirement plans and individual retirement accounts. Participants direct the investment of their contributions into various investment options offered by the Plan. Participants may change their rate of
        contribution each pay period. Participants are eligible to contribute a flat dollar amount or a percentage of their pretax annual compensation. Berkshire Bank&#8217;s 401(k) Plan offers an after- tax Roth option as an additional deferral selection.</div>
      <div style="margin-top: 0.5pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.2pt; margin-left: 33.8pt; font-size: 12pt;">The Bank matches a portion of eligible employee contributions. During 2020 and 2019, the Bank matched 100% of eligible employee contributions up to 4% of the
        participant&#8217;s pretax annual compensation.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">5</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">BERKSHIRE BANK 401(K) PLAN</div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS</div>
        <div style="margin-top: 0.1pt;"><br>
        </div>
        <div style="margin-right: 126.7pt; margin-left: 126.5pt; font-size: 12pt; font-weight: bold;">December 31, 2020 and 2019</div>
        <div style="margin-top: 0.1pt;"><br>
        </div>
      </div>
      <br>
      <div style="text-align: justify; margin-left: 14.8pt; margin-top: 4.5pt; font-size: 12pt; font-style: italic; font-weight: bold;"> DESCRIPTION OF THE PLAN (continued)</div>
      <div style="text-align: justify; margin-left: 14.8pt; margin-top: 4.5pt; font-size: 12pt; font-style: italic; font-weight: bold;"> <br>
      </div>
      <div style="text-align: justify; margin-left: 14.8pt; margin-top: 4.5pt; font-size: 12pt; font-style: italic; font-weight: bold;">Plan Eligibility</div>
      <div style="margin-top: 0.05pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.2pt; margin-left: 14.8pt; font-size: 12pt;">Employees of the Bank are eligible to participate in the Plan after attaining eighteen years of age and completing ninety days of service.</div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.2pt; margin-left: 14.8pt; font-size: 12pt;">A break in eligibility service occurs if an employee is not employed for a twelve consecutive month period. If the eligibility requirements had not yet been
        satisfied and there is a break in eligibility service, periods before the break in service will not be taken into account and the employee will have to satisfy the eligibility requirements following the break in service.</div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.05pt; margin-left: 14.8pt; font-size: 12pt;">Periods during which an employee has a break in eligibility service will not count against the employee if the employee was absent because the employee was
        pregnant, had a child or adopted a child, was serving in the military, or provided service during a national emergency and re-employment is protected under federal or state law, and the employee returns to employment within the time required by
        law. Service credit is given to employees of certain predecessor employers as described in the Plan document for participation and vesting purposes. Employees may join the Plan on the first of the month following the month in&#160; which eligibility
        requirements are satisfied. Rehires may rejoin the Plan on the first day of the month following the month of rehire if they were previous participants of the Plan.</div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="text-align: justify; margin-left: 14.8pt; font-size: 12pt; font-style: italic; font-weight: bold;">Participant Accounts</div>
      <div style="margin-top: 0.2pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.3pt; margin-left: 14.8pt; font-size: 12pt;">Each participant&#8217;s account is credited with the participant&#8217;s contribution and allocations of (a) the Bank&#8217;s contributions, (b) the Plan&#8217;s investment
        earnings, (c) administrative expenses and (d) participant withdrawals. Allocations are based on participant earnings or account balances, as defined by the Plan. The benefit to which a participant is entitled is the benefit that can be provided
        from the participant&#8217;s vested account.</div>
      <div style="margin-top: 0.5pt;"><br>
      </div>
      <div style="text-align: justify; margin-left: 14.8pt; font-size: 12pt; font-style: italic; font-weight: bold;">Investments</div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.25pt; margin-left: 14.8pt; font-size: 12pt;">Participants direct the investment of their contributions into investment options offered by the Plan which include selected mutual funds of Vanguard and
        other financial advisors, and common shares of Berkshire Hills Bancorp, Inc., the parent company of the Bank.&#160; Participants electing the Vanguard Brokerage Option can transfer vested assets to their brokerage account and invest in additional
        options beyond the Plan&#8217;s core lineup. Employer contributions are invested in each participant&#8217;s account according to the participant&#8217;s selected allocation. Participants may change or transfer their investment options at any time via an automated
        telephone system or the Custodian&#8217;s website.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">6</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">BERKSHIRE BANK 401(K) PLAN</div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS</div>
        <div style="margin-top: 0.1pt;"><br>
        </div>
        <div style="margin-right: 126.7pt; margin-left: 126.5pt; font-size: 12pt; font-weight: bold;">December 31, 2020 and 2019</div>
        <div style="margin-top: 0.1pt;"><br>
        </div>
      </div>
      <div style="margin-top: 0.15pt;"> </div>
      <div style="text-align: justify; margin-left: 14.8pt; margin-top: 4.5pt; font-size: 12pt; font-style: italic; font-weight: bold;"> DESCRIPTION OF THE PLAN (continued)</div>
      <div style="text-align: justify; margin-left: 14.8pt; margin-top: 4.5pt; font-size: 12pt; font-style: italic; font-weight: bold;">Vesting</div>
      <div style="margin-top: 0.05pt;"><br>
      </div>
      <div style="text-align: justify; margin-left: 14.8pt; font-size: 12pt;">Participants are 100% vested in all contributions plus actual earnings thereon.</div>
      <div style="margin-top: 0.25pt;"><br>
      </div>
      <div style="text-align: justify; margin-left: 14.8pt; font-size: 12pt; font-style: italic; font-weight: bold;">Notes Receivable from Participants</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-right: 5.25pt; margin-left: 14.8pt; margin-top: 0.05pt; font-size: 12pt;">Participants may borrow from their fund accounts a minimum of $1,000 per loan up to a maximum amount, which is equal to $50,000 or 50%
        of their vested account balance, whichever is less. In addition, the $50,000 limit is reduced by the highest outstanding loan balance (of any previous loans made) in the previous twelve months. The loans are secured&#160; by the balance in the
        participant&#8217;s accounts and bear interest at The Wall Street Journal prime rate plus one percentage point as of the loan application review date. Interest rates ranged from 4.25% to 6.50% as of December 31, 2020 and December 31, 2019. In general,
        principal and interest are paid ratably over a period not to exceed five years through regular payroll deductions. Loans used to finance the participant&#8217;s principal residence are repaid over a&#160; period of time, up to 20 years.</div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.25pt; margin-left: 14.8pt; font-size: 12pt;">If a participant fails to make a loan repayment by its due date, the total outstanding amount of the loan including any interest that has accrued will be
        defaulted and deemed a distribution to the participant on the date of default; however, the balance continues to be included in notes receivable from participants until the account balances of the defaulted borrower(s) are distributed from the
        Plan. There were no deemed loans for the year ended December 31, 2020. Deemed loans totaled $902 for the year ended December 31, 2019. There were no loan defaults for terminated participants for the years ended December 31, 2020 and 2019.</div>
      <div style="margin-top: 0.4pt;"><br>
      </div>
      <div style="text-align: justify; margin-left: 14.8pt; margin-top: 0.05pt; font-size: 12pt; font-style: italic; font-weight: bold;">Payment of Benefits</div>
      <div style="margin-top: 0.05pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.25pt; margin-left: 14.8pt; font-size: 12pt;">On termination of service due to death, disability, normal retirement, or attaining age 59&#189; a participant may elect to receive either a lump sum amount
        equal to the value of the participant&#8217;s vested interest in their account, annual installments, or defer distribution until a later date. If the vested portion of a participant&#8217;s account balance is $1,000 or less, and the participant does not
        provide alternative instructions to the Plan sponsor, this amount is paid as a lump sum distribution as soon as possible following termination, retirement, disability, or to the beneficiary following death.</div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.5pt; margin-left: 14.8pt; font-size: 12pt;">Participants may request a benefit payment in the case of financial hardship, subject to certain limitations as defined by the Plan.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">7</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">BERKSHIRE BANK 401(K) PLAN</div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS</div>
        <div style="margin-top: 0.1pt;"><br>
        </div>
        <div style="margin-right: 126.7pt; margin-left: 126.5pt; font-size: 12pt; font-weight: bold;">December 31, 2020 and 2019</div>
        <div style="margin-top: 0.1pt;"><br>
        </div>
      </div>
      <div style="margin-top: 0.15pt;">
        <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 33.8pt; vertical-align: top; align: right;">
                <div style="margin-left: 5pt; font-size: 12pt; font-weight: bold;"><br>
                </div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-size: 12pt; font-weight: bold;">DESCRIPTION OF THE PLAN (concluded)</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="text-align: justify; margin-left: 33.8pt; margin-top: 4.5pt; font-size: 12pt; font-style: italic; font-weight: bold;"> <br>
      </div>
      <div style="text-align: justify; margin-left: 33.8pt; margin-top: 4.5pt; font-size: 12pt; font-style: italic; font-weight: bold;">Plan Termination</div>
      <div style="margin-top: 0.05pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.25pt; margin-left: 33.8pt; font-size: 12pt;">Although it has not expressed any intent to do so, the Bank has the right under the Plan to discontinue its contributions at any time and to terminate the
        Plan, subject to the provisions of ERISA. In the event of Plan termination, the net assets of the Plan would be allocated as prescribed by ERISA and its related regulations.</div>
      <div style="margin-top: 0.15pt;"><br>
      </div>
      <div style="text-align: justify; margin-left: 33.8pt; font-size: 12pt; font-style: italic; font-weight: bold;">Forfeited Accounts</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-right: 9.55pt; margin-left: 36.55pt; font-size: 12pt;">At December 31, 2020 and December 31, 2019, forfeited non-vested accounts totaled $1,634 and $912, respectively. These accounts will be used to reduce
        future employer contributions.</div>
      <div style="margin-top: 0.35pt;"><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="zfeed843f34014ade8ff24d8ca8aad42b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 33.8pt; vertical-align: top; align: right;">
                <div style="margin-left: 5pt; font-size: 12pt; font-weight: bold;">2.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-size: 12pt; font-weight: bold;">SUMMARY OF ACCOUNTING POLICIES</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-right: 5.2pt; margin-left: 33.8pt; margin-top: 0.05pt; font-size: 12pt;">A summary of significant accounting policies consistently applied in the preparation of the accompanying financial statements follows.</div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="text-align: justify; margin-left: 33.8pt; font-size: 12pt; font-style: italic; font-weight: bold;">Basis of Accounting</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-right: 5.4pt; margin-left: 33.8pt; font-size: 12pt;">The accompanying financial statements have been prepared using the accrual method of accounting.</div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="text-align: justify; margin-left: 33.8pt; font-size: 12pt; font-style: italic; font-weight: bold;">Use of Estimates</div>
      <div style="margin-top: 0.2pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.25pt; margin-left: 33.8pt; font-size: 12pt;">In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to
        make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the
        reporting period. Actual results could differ from those estimates.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">8</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">BERKSHIRE BANK 401(K) PLAN</div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS</div>
        <div style="margin-top: 0.1pt;"><br>
        </div>
        <div style="margin-right: 126.7pt; margin-left: 126.5pt; font-size: 12pt; font-weight: bold;">December 31, 2020 and 2019</div>
        <div style="margin-top: 0.1pt;"><br>
        </div>
      </div>
      <div style="text-align: justify; margin-left: 14.8pt; margin-top: 4.5pt; font-size: 12pt; font-style: normal; font-weight: bold;">SUMMARY OF ACCOUNTING POLICIES (continued)</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 14.8pt; margin-top: 0.05pt; font-size: 12pt; font-style: italic; font-weight: bold;">Investment Valuation and Income Recognition</div>
      <div style="margin-top: 0.05pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.2pt; margin-left: 14.8pt; font-size: 12pt;">The Plan&#8217;s investments are stated at fair value. Shares of registered investment companies are valued at quoted market prices which represent the net asset
        value reported by the fund at year-end. Investments in Berkshire Hills Bancorp, Inc. common stock and other equities are valued at the closing market price as of the last trade date of the year.</div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.25pt; margin-left: 14.8pt; font-size: 12pt;">Purchases and sales of investments are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividend income is recorded on the
        ex-dividend date. Capital gain distributions are included in dividend income. Net appreciation includes the Plan's gains and losses on investments bought and sold as well as held during the year.</div>
      <div style="margin-top: 0.4pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.5pt; margin-left: 16pt; font-size: 12pt;">The Plan groups assets and liabilities that are measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and
        the reliability of the assumptions used to determine fair value.</div>
      <div style="margin-top: 0.25pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.2pt; margin-left: 16pt; margin-top: 0.05pt; font-size: 12pt;">Level 1 &#8211; Valuation is based on quoted prices in active markets for identical assets or liabilities. Valuations are obtained from readily
        available pricing sources for market transactions involving identical assets or liabilities.</div>
      <div style="margin-top: 0.3pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.15pt; margin-left: 16pt; font-size: 12pt;">Level 2 &#8211; Valuation is based on observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets
        that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.</div>
      <div style="margin-top: 0.25pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.25pt; margin-left: 16pt; margin-top: 0.05pt; font-size: 12pt;">Level 3 &#8211; Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the
        fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using unobservable techniques, as well as instruments for which the determination of fair value requires significant
        management judgment or estimation.</div>
      <div style="margin-top: 0.35pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.3pt; margin-left: 16pt; font-size: 12pt;">In certain cases, inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment&#8217;s level within the
        fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Plan&#8217;s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and
        considers factors specific to the investment.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">9</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">BERKSHIRE BANK 401(K) PLAN</div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS</div>
        <div style="margin-top: 0.1pt;"><br>
        </div>
        <div style="margin-right: 126.7pt; margin-left: 126.5pt; font-size: 12pt; font-weight: bold;">December 31, 2020 and 2019</div>
        <div style="margin-top: 0.1pt;"><br>
        </div>
      </div>
      <div style="margin-top: 0.25pt;"><br>
      </div>
      <div style="text-align: justify; margin-left: 14.8pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">SUMMARY OF ACCOUNTING POLICIES (concluded)</div>
      <div style="margin-top: 0.2pt;"><br>
      </div>
      <div style="text-align: justify; margin-left: 16pt; margin-top: 0.05pt; font-size: 12pt; font-style: italic; font-weight: bold;">Notes Receivable from Participants</div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.1pt; margin-left: 16pt; font-size: 12pt;">Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Interest income is recorded on an
        accrual basis. Related fees are recorded as administrative expenses and are expensed when they are incurred. No allowance for credit losses have been recorded at December 31, 2020 and 2019.</div>
      <div style="margin-top: 0.25pt;"><br>
      </div>
      <div style="text-align: justify; margin-left: 16pt; font-size: 12pt; font-style: italic; font-weight: bold;">Benefits Paid</div>
      <div style="margin-top: 0.2pt;"><br>
      </div>
      <div style="text-align: justify; margin-left: 16pt; font-size: 12pt;">Benefits are recorded upon distribution.</div>
      <div style="margin-top: 0.1pt;"><br>
      </div>
      <div style="text-align: justify; margin-left: 14.8pt; margin-top: 0.05pt; font-size: 12pt; font-style: italic; font-weight: bold;">Administrative Expenses</div>
      <div style="margin-top: 0.05pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.15pt; margin-left: 14.8pt; font-size: 12pt;">The Plan&#8217;s administrative expenses are paid by either the Plan or the Plan Sponsor&#160; as provided by the Plan document. Administrative fees charged to the
        Plan as shown on the Statements of Changes in Net Assets relate to fees charged to the participants for recordkeeping and information management or participant loan processing that are deducted from their asset balances. Investment related expenses
        are included in net appreciation in fair value of investments on the Statements of Changes in Net Assets Available for Benefits.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">10</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">BERKSHIRE BANK 401(K) PLAN</div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS</div>
        <div style="margin-top: 0.1pt;"><br>
        </div>
        <div style="margin-right: 126.7pt; margin-left: 126.5pt; font-size: 12pt; font-weight: bold;">December 31, 2020 and 2019</div>
        <div style="margin-top: 0.1pt;"><br>
        </div>
      </div>
      <div style="margin-top: 0.25pt;"><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z78a386d1067f49efa328c3d374b32a58" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 4.5pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 33.8pt; vertical-align: top; align: right;">
                <div style="margin-left: 5pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">3.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">INVESTMENTS, AT FAIR VALUE</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-top: 0.05pt;"><br>
      </div>
      <div style="text-align: left; margin-left: 33.8pt; font-size: 12pt;">The following table summarizes the valuation of the Plan&#8217;s investments by the fair value hierarchy levels as of December 31, 2020 and 2019, respectively:</div>
      <div style="margin-top: 0.1pt;"><br>
      </div>
      <br>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z5ac320f03de94ab795b9ebde4151ea4f">

          <tr>
            <td colspan="2" style="width: 23.26%; vertical-align: top;">
              <div style="font-size: 12pt;">December 31, 2020</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.46%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 12pt;">Level 1</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 12pt;">Level 2</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 12pt;">Level 3</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 12pt;">Total</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.18%; vertical-align: top;">&#160;</td>
            <td style="width: 18.08%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.46%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td colspan="2" style="width: 23.26%; vertical-align: top;">
              <div style="font-size: 12pt;">Money markets*</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.46%; vertical-align: top;">
              <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 12pt;">&#160;$&#160; &#160; &#160; &#160; &#160; 349,955</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">
              <div style="text-align: right; font-size: 12pt;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#8212; &#160; &#160; &#160; <br>
              </div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">
              <div style="text-align: right; font-size: 12pt;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#8212; &#160; &#160; &#160; <br>
              </div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top;">
              <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 12pt;">&#160;$&#160; &#160; &#160; &#160; &#160; 349,955</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" style="width: 23.26%; vertical-align: top;">
              <div style="font-size: 12pt;">Mutual funds</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.46%; vertical-align: top;">
              <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;161,938,299</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">
              <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8212; &#160; &#160; &#160; <br>
              </div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">
              <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8212; &#160; &#160; &#160; <br>
              </div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top;">
              <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;161,938,299</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" style="width: 23.26%; vertical-align: top;">
              <div style="font-size: 12pt;">Common stock*</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.46%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5,741,169</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8212; &#160; &#160; &#160; <br>
              </div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8212; &#160; &#160; &#160; <br>
              </div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5,741,169</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.18%; vertical-align: top;">&#160;</td>
            <td style="width: 18.08%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.46%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 5.18%; vertical-align: top;">&#160;</td>
            <td style="width: 18.08%; vertical-align: top;">
              <div style="font-size: 12pt;">Total investments</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.46%; vertical-align: top; border-bottom: #000000 4px double;">
              <div style="text-align: right; font-size: 12pt;">&#160;$&#160;&#160; 168,029,423</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top; border-bottom: #000000 4px double;">
              <div style="text-align: right; font-size: 12pt;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#8212; &#160; &#160; &#160; <br>
              </div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top; border-bottom: #000000 4px double;">
              <div style="text-align: right; font-size: 12pt;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#8212; &#160; &#160; &#160; <br>
              </div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top; border-bottom: #000000 4px double;">
              <div style="text-align: right; font-size: 12pt;">&#160;$&#160;&#160; 168,029,423</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.18%; vertical-align: top;">&#160;</td>
            <td style="width: 18.08%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.46%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 5.18%; vertical-align: top;">&#160;</td>
            <td style="width: 18.08%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.46%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td colspan="2" style="width: 23.26%; vertical-align: top;">
              <div style="font-size: 12pt;">December 31, 2019</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.46%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 12pt;">Level 1</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 12pt;">Level 2</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 12pt;">Level 3</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-size: 12pt;">Fair Value</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.18%; vertical-align: top;">&#160;</td>
            <td style="width: 18.08%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.46%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td colspan="2" style="width: 23.26%; vertical-align: top;">
              <div style="font-size: 12pt;">Money markets**</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.46%; vertical-align: top;">
              <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 12pt;">&#160;$&#160; &#160; &#160; &#160; &#160; 321,905</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">
              <div style="text-align: right; font-size: 12pt;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#8212; &#160; &#160; &#160; <br>
              </div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">
              <div style="text-align: right; font-size: 12pt;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#8212; &#160; &#160; &#160; <br>
              </div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top;">
              <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 12pt;">&#160;$&#160; &#160; &#160; &#160; &#160; 321,905</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" style="width: 23.26%; vertical-align: top;">
              <div style="font-size: 12pt;">Mutual funds</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.46%; vertical-align: top;">
              <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;141,318,333</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">
              <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8212; &#160; &#160; &#160; <br>
              </div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">
              <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8212; &#160;&#160; &#160;&#160; <br>
              </div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top;">
              <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;141,318,333</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" style="width: 23.26%; vertical-align: top;">
              <div style="font-size: 12pt;">Common stock**</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.46%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;8,752,335</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8212; &#160; &#160; &#160; <br>
              </div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8212; &#160; &#160; &#160; <br>
              </div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;8,752,335</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.18%; vertical-align: top;">&#160;</td>
            <td style="width: 18.08%; vertical-align: top;">
              <div style="font-size: 12pt;">Total investments</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.46%; vertical-align: top; border-bottom: #000000 4px double;">
              <div style="text-align: right; font-size: 12pt;">&#160;$&#160;&#160; 150,392,573</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top; border-bottom: #000000 4px double;">
              <div style="text-align: right; font-size: 12pt;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#8212; &#160; &#160; &#160; <br>
              </div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top; border-bottom: #000000 4px double;">
              <div style="text-align: right; font-size: 12pt;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#8212; &#160; &#160; &#160; <br>
              </div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top; border-bottom: #000000 4px double;">
              <div style="text-align: right; font-size: 12pt;">&#160;$&#160;&#160; 150,392,573</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.18%; vertical-align: top;">&#160;</td>
            <td style="width: 18.08%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.46%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 5.18%; vertical-align: top;">&#160;</td>
            <td style="width: 18.08%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.46%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 14.66%; vertical-align: top;">&#160;</td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 5.18%; vertical-align: top;">
              <div style="text-align: right;">*</div>
            </td>
            <td colspan="9" style="width: 94.82%; vertical-align: top;">
              <div>As of December 31, 2020, the VGI Brokerage Option totaled $1,605,045, of which 22% was</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.18%; vertical-align: top;">&#160;</td>
            <td colspan="7" style="width: 73.83%; vertical-align: top;">
              <div>comprised of money markets and 78% was comprised of common stock.</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 5.18%; vertical-align: top;">
              <div style="text-align: right;">**</div>
            </td>
            <td colspan="9" style="width: 94.82%; vertical-align: top;">
              <div>As of December 31, 2019, the VGI Brokerage Option totaled $1,083,531, of which 30% was</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.18%; vertical-align: top;">&#160;</td>
            <td colspan="7" style="width: 73.83%; vertical-align: top;">
              <div>comprised of money markets and 70% was comprised of common stock.</div>
            </td>
            <td style="width: 2.65%; vertical-align: top;">&#160;</td>
            <td style="width: 18.33%; vertical-align: top;">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="margin-top: 0.35pt;"><br>
      </div>
      <div style="text-align: left; margin-left: 33.8pt; font-size: 12pt;">There were no assets measured at fair value on a non-recurring basis at December 31, 2020 or 2019.&#160; There were no transfers between categories during 2020 or 2019.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">11</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">BERKSHIRE BANK 401(K) PLAN</div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS</div>
        <div style="margin-top: 0.1pt;"><br>
        </div>
        <div style="margin-right: 126.7pt; margin-left: 126.5pt; font-size: 12pt; font-weight: bold;">December 31, 2020 and 2019</div>
      </div>
      <div style="margin-top: 0.25pt;"><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z0db392bbfabc459e8bf570b6c0dd1e48" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 4.5pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 32pt; vertical-align: top; align: right;">
                <div style="margin-left: 5pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">4.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">TAX STATUS</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="text-align: justify; margin-right: 5.25pt; margin-left: 33.8pt; margin-top: 11.15pt; font-size: 12pt;">The Bank adopted a prototype plan whose most recent opinion letter from the Internal Revenue Service, dated May 28, 2014, stated that
        the Plan was designed in accordance with applicable sections of the IRC. The Plan has been amended from the original prototype document; however, the Plan Administrator believes the Plan is currently operated in compliance with the applicable
        requirements of the IRC.</div>
      <div style="margin-top: 0.15pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.4pt; margin-left: 33.8pt; font-size: 12pt;">The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Plan is no longer
        subject to income tax examinations for years prior to 2017.</div>
      <div style="margin-top: 0.1pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.25pt; margin-left: 33.8pt; font-size: 12pt;">The United States Generally Accepted Accounting Principles requires plan management to evaluate tax positions taken by the Plan. The financial statement
        effects of a tax position are recognized when the position is more likely than not, based on the technical merits, to be sustained upon examination by the Internal Revenue Service. Plan management has analyzed the tax positions taken by the Plan
        and has concluded that there are no uncertain positions taken or expected to be taken as of December 31, 2020. The Plan did not have any uncertain positions at December 31, 2019 which required disclosure or accrual. The Plan has recognized no
        interest or penalties related to uncertain tax positions.</div>
      <div style="margin-top: 0.3pt;"><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z683bc79f8ff44f4a8b1c49b94a760056" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0.05pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 32pt; vertical-align: top; align: right;">
                <div style="margin-left: 5pt; margin-top: 0.05pt; font-size: 12pt; font-weight: bold;">5.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="margin-top: 0.05pt; font-size: 12pt; font-weight: bold;">ADMINISTRATION OF PLAN ASSETS</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-top: 0.05pt;"><br>
      </div>
      <div style="text-align: justify; margin-left: 33.8pt; font-size: 12pt;">The Plan assets are held by The Vanguard Group, the Custodian of the Plan.</div>
      <div style="text-align: justify; margin-right: 5.25pt; margin-left: 33.8pt; margin-top: 11.4pt; font-size: 12pt;">Bank contributions, participant elective deferrals, and participant accounts are held and administered by Vanguard Fiduciary Trust
        Company, who invests cash received, interest, and dividend income in accordance with participants&#8217; instructions and makes distributions to participants. The Trustee also administers the payment of interest and principal on participants&#8217; loans.</div>
      <div style="text-align: justify; margin-right: 5.4pt; margin-left: 33.8pt; margin-top: 11pt; font-size: 12pt;">Certain administrative functions are performed by officers or employees of the Bank. No&#160; such officers or employees receive compensation
        for such functions from the Plan.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">12</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">BERKSHIRE BANK 401(K) PLAN</div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS</div>
        <div style="margin-top: 0.1pt;"><br>
        </div>
        <div style="margin-right: 126.7pt; margin-left: 126.5pt; font-size: 12pt; font-weight: bold;">December 31, 2020 and 2019</div>
      </div>
      <div style="margin-top: 0.25pt;"><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z130fc9a538be445e9d97d1212d9015bd" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 4.5pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 32pt; vertical-align: top; align: right;">
                <div style="margin-left: 5pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">6.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">RISKS AND UNCERTAINTIES</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="text-align: justify; margin-right: 5.2pt; margin-left: 33.8pt; margin-top: 11.15pt; font-size: 12pt;">The Plan invests in a variety of investment vehicles. Investment securities are exposed to various risks, such as interest rate, market,
        liquidity, and credit. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially
        affect participants&#8217; account balances and the amounts reported in the statements of net assets available for benefits.</div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.05pt; margin-left: 32pt; font-size: 12pt;">In December 2019, a novel strain of coronavirus (&#8220;COVID-19&#8221;) was reported to have surfaced in China and has since spread to a number of other countries,
        including the United States. On March 11, 2020, the World Health Organization classified COVID-19 a global pandemic, which has adversely impacted the global economy by disrupting supply chains, lowering equity market valuations, creating
        significant volatility and disruption in financial markets, and increasing unemployment levels. While the length and severity of this pandemic cannot&#160; be reasonably estimated, it has negatively impacted the market price of Berkshire Hills Bancorp
        common stock and Plan assets.</div>
      <div style="margin-top: 0.25pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.1pt; margin-left: 32pt; margin-top: 0.05pt; font-size: 12pt;">On March 27, 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which included several relief
        provisions available to tax qualified retirement plans and their participants. The provisions of the CARES Act may be effective and operationalized immediately, prior to amending the Plan document. The Plan has adopted certain measures included in
        the CARES Act which allow qualified participants to receive coronavirus-related distributions without penalty and delay repayments of any new or outstanding loans for up to one year. Additionally, required minimum distributions beginning in 2020
        will be delayed by one year, but may still be received at the request of a participant.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">13</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">BERKSHIRE BANK 401(K) PLAN</div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS</div>
        <div style="margin-top: 0.1pt;"><br>
        </div>
        <div style="margin-right: 126.7pt; margin-left: 126.5pt; font-size: 12pt; font-weight: bold;">December 31, 2020 and 2019</div>
      </div>
      <div style="margin-top: 0.25pt;"><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z014031c0334b428a8e19868405d5797f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 4.5pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 33.8pt; vertical-align: top; align: right;">
                <div style="margin-left: 5pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">7.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">RELATED PARTY AND PARTIES IN INTEREST TRANSACTIONS</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-top: 0.05pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.15pt; margin-left: 33.8pt; font-size: 12pt;">The Plan's record keeper, Trustee, and Custodian, as well as the Company and Plan participants, and Crowe LLP, the auditor of the Plan&#8217;s financial
        statements, are each a &#8220;party-in-interest" to the Plan as defined by ERISA. Certain administrative functions are performed by employees and officers of the Bank for which no compensation was paid from the Plan. For the year ended December 31, 2020,
        the Bank contributed $3,468,991 to the Plan, of which none was owed to the Plan at December 31, 2020. For the year ended December 31, 2019, the Bank contributed $4,150,698 to the Plan, of which none was owed to the Plan at December 31, 2019. In
        addition, the Bank paid expenses in connection with the administration of the Plan, totaling $27,309 and $18,401 for the years ended December 31, 2020 and 2019, respectively. Expenses paid by the Plan to the Plan&#8217;s record keeper, trustee, and
        custodian represent party- in-interest transactions.</div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.05pt; margin-left: 33.8pt; font-size: 12pt;">The Plan has investments in common stock of Berkshire Hills Bancorp, Inc., the parent company of the Bank. At December 31, 2020 and 2019, the Plan held
        262,037 shares and 243,026&#160;&#160; shares,&#160;&#160; respectively.&#160;&#160; At&#160;&#160; December&#160;&#160; 31,&#160;&#160; 2020&#160;&#160; and&#160; 2019,&#160; the&#160; stock&#160; value was $4,486,079 and $7,990,709, respectively. For the years ended December 31, 2020 and 2019, the purchases of stocks amounted to
        $863,050 and $1,286,580 respectively and sales amounted to $933,028 and $2,812,204, respectively. For the years ended December 31, 2020 and 2019, dividends earned were $172,757 and $226,189, respectively. For the years ended December&#160; 31,&#160; 2020&#160;
        and&#160; 2019,&#160; realized&#160; losses&#160; were&#160; $530,211&#160; and&#160; realized&#160; gains&#160;&#160; were $396,602, respectively. In addition, certain of the investment options are managed by Vanguard. Transactions in such investments qualify as party-in-interest transactions.
        Notes receivable from participants also qualify as parties-in-interest transactions.</div>
      <div style="margin-top: 0.55pt;"><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="zf0ab019598e44aff93c7850d0e326e81" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 32pt; vertical-align: top; align: right;">
                <div style="margin-left: 5pt; font-size: 12pt; font-weight: bold;">8.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-size: 12pt; font-weight: bold;">ROLLOVER CONTRIBUTIONS</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="text-align: justify; margin-right: 5.1pt; margin-left: 32pt; margin-top: 11.15pt; font-size: 12pt;">For the year ended December 31, 2020, the rollover contributions are made up of contributions from current employees rolling their assets
        over into the Plan. Current employees have the option to transfer their funds from a previous employer&#8217;s retirement plan into the Plan.</div>
      <div style="margin-top: 0.3pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.15pt; margin-left: 32pt; margin-top: 0.05pt; font-size: 12pt;">For the year ended December 31, 2019, the rollover contributions are made up of contributions from current employees rolling their assets
        over into the Plan and contributions from former employees of SI Financial Group, Inc. (&#8220;SI Financial&#8221;). On May 17, 2019, the Bank acquired SI Financial. The employees of SI Financial were given credit for hours of service with their previous
        employer and were able to participate in the Berkshire Bank 401(k) Plan on June 1, 2019. The SI Financial 401(k) Plan participants had the option to rollover their funds into the Berkshire Bank 401(k) Plan.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">14</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">BERKSHIRE BANK 401(K) PLAN</div>
        <div style="margin-right: 126.85pt; margin-left: 126.35pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS</div>
        <div style="margin-top: 0.1pt;"><br>
        </div>
        <div style="margin-right: 126.7pt; margin-left: 126.5pt; font-size: 12pt; font-weight: bold;">December 31, 2020 and 2019</div>
      </div>
      <div style="margin-top: 0.25pt;"><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z25c51ab0204743208fb253f5723d5742" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 4.5pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 32pt; vertical-align: top; align: right;">
                <div style="margin-left: 5pt; margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">9.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="margin-top: 4.5pt; font-size: 12pt; font-weight: bold;">SUBSEQUENT EVENTS</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-top: 0.3pt;"><br>
      </div>
      <div style="text-align: left; margin-left: 32pt; margin-top: 0.05pt; font-size: 12pt;">Plan Management has evaluated subsequent events for recognition and disclosure through June 29, 2021 and has concluded that there are no events that require
        recognition or disclosure in the financial statements.<br>
      </div>
      <div><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z25b144c7c8e045bba52ff21500841436" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 32pt; vertical-align: top; align: right;">
                <div style="margin-left: 5pt; font-size: 12pt; font-weight: bold;">10.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-size: 12pt; font-weight: bold;">RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="text-align: left; margin-right: 44.5pt; margin-left: 33.8pt; font-size: 12pt;">The following is a reconciliation of net assets available for benefits per the financial statements at December 31, 2020 and 2019 to Form 5500:</div>
      <div style="margin-top: 0.25pt;"><br>
      </div>
      <div style="text-align: right; margin-right: 65.3pt; margin-top: 4.55pt; margin-bottom: 1.15pt;">December 31,&#160;&#160; &#160; &#160; &#160; <br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z4edf4865f0e24e2e838583b191656999" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 64.64%; vertical-align: top;">&#160;</td>
            <td style="width: 16.84%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center; margin-right: 24.75pt; margin-left: 25.5pt;">2020</div>
            </td>
            <td style="width: 1.69%; vertical-align: top;">&#160;</td>
            <td style="width: 16.84%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center; margin-right: 24.8pt; margin-left: 25.45pt;">2019</div>
            </td>
          </tr>
          <tr>
            <td style="width: 64.64%; vertical-align: top;">
              <div style="margin-left: 2.5pt;">Net assets available for benefits per financial statements</div>
            </td>
            <td style="width: 16.84%; vertical-align: top;">
              <div style="text-align: right; margin-right: 5.65pt;">$ 170,234,903</div>
            </td>
            <td style="width: 1.69%; vertical-align: top;">&#160;</td>
            <td style="width: 16.84%; vertical-align: top;">
              <div style="text-align: right; margin-right: 5.65pt;">$ 153,169,913</div>
            </td>
          </tr>
          <tr>
            <td style="width: 64.64%; vertical-align: top;">
              <div style="margin-left: 2.5pt;">Less: deemed distributed loans (1)</div>
            </td>
            <td style="width: 16.84%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; margin-right: 5.6pt;">2,812</div>
            </td>
            <td style="width: 1.69%; vertical-align: top;">&#160;</td>
            <td style="width: 16.84%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; margin-right: 5.65pt;">2,812</div>
            </td>
          </tr>
          <tr>
            <td style="width: 64.64%; vertical-align: top;">
              <div style="margin-left: 2.5pt;">Net assets available for benefits per Form 5500</div>
            </td>
            <td style="width: 16.84%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; margin-right: 5.65pt;">$ 170,232,091</div>
            </td>
            <td style="width: 1.69%; vertical-align: top;">&#160;</td>
            <td style="width: 16.84%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; margin-right: 5.65pt;">$ 153,167,101</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="text-align: justify; margin-right: 5.25pt; margin-left: 33.8pt;">The following is a reconciliation of the net increase / decrease in net assets available for benefits as presented in the statements of changes in net assets available for
        benefits to Form 5500 for the years ended December 31, 2020 and 2019:</div>
      <div style="margin-top: 0.25pt;"><br>
      </div>
      <div style="text-align: right; margin-right: 57.45pt; margin-top: 4.6pt; margin-bottom: 1.25pt;">December 31,&#160;&#160;&#160;&#160; &#160; &#160; &#160; <br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z133059fbf4004986a88bc3e1b731f43c" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 65.67%; vertical-align: top;">&#160;</td>
            <td style="width: 16.75%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center; margin-right: 25.15pt; margin-left: 25.8pt;">2020</div>
            </td>
            <td style="width: 1.66%; vertical-align: top;">&#160;</td>
            <td style="width: 15.91%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center; margin-right: 23.2pt; margin-left: 24pt;">2019</div>
            </td>
          </tr>
          <tr>
            <td style="width: 65.67%; vertical-align: top;">
              <div style="margin-left: 2.5pt;">Net increase in net assets available for benefits</div>
            </td>
            <td style="width: 16.75%; vertical-align: top;">&#160;</td>
            <td style="width: 1.66%; vertical-align: top;">&#160;</td>
            <td style="width: 15.91%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 65.67%; vertical-align: top;">
              <div style="margin-left: 10.75pt;">per the financial statements</div>
            </td>
            <td style="width: 16.75%; vertical-align: top;">
              <div style="text-align: right; margin-right: 5.65pt;">$&#160;&#160; 17,064,990</div>
            </td>
            <td style="width: 1.66%; vertical-align: top;">&#160;</td>
            <td style="width: 15.91%; vertical-align: top;">
              <div style="text-align: right; margin-right: 5.65pt;">$ 30,845,798</div>
            </td>
          </tr>
          <tr>
            <td style="width: 65.67%; vertical-align: top;">
              <div style="margin-left: 2.5pt;">Less: deemed distributed loans (1)</div>
            </td>
            <td style="width: 16.75%; vertical-align: top;">
              <div style="text-align: right; margin-right: 5.65pt;">2,812</div>
            </td>
            <td style="width: 1.66%; vertical-align: top;">&#160;</td>
            <td style="width: 15.91%; vertical-align: top;">
              <div style="text-align: right; margin-right: 5.65pt;">2,812</div>
            </td>
          </tr>
          <tr>
            <td style="width: 65.67%; vertical-align: top;">
              <div style="margin-left: 2.5pt;">Plus: prior year distributions (1)</div>
            </td>
            <td style="width: 16.75%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; margin-right: 5.65pt;">2,812</div>
            </td>
            <td style="width: 1.66%; vertical-align: top;">&#160;</td>
            <td style="width: 15.91%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; margin-right: 5.65pt;">1,909</div>
            </td>
          </tr>
          <tr>
            <td style="width: 65.67%; vertical-align: top;">
              <div style="margin-left: 2.5pt;">Net increase in net assets available for benefits</div>
            </td>
            <td style="width: 16.75%; vertical-align: top;">&#160;</td>
            <td style="width: 1.66%; vertical-align: top;">&#160;</td>
            <td style="width: 15.91%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 65.67%; vertical-align: top;">
              <div style="margin-left: 10.75pt;">per Form 5500</div>
            </td>
            <td style="width: 16.75%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; margin-right: 5.65pt;">$&#160;&#160; 17,064,990</div>
            </td>
            <td style="width: 1.66%; vertical-align: top;">&#160;</td>
            <td style="width: 15.91%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: right; margin-right: 5.65pt;">$ 30,844,895</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z2a29b8aca58b4f429105868d183c0686" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 10.55pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 41pt; vertical-align: top; align: right;">
                <div style="margin-left: 23pt; margin-top: 10.55pt; font-size: 12pt;">(1)</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; margin-top: 10.55pt; font-size: 12pt;">In the financial statements of the Plan, delinquent loans remain as assets of the Plan. However, for the Form 5500 reporting purposes delinquent loans are removed from
                  plan assets and reported as a benefit paid to a participant. Any loans held by participants that were deemed in previous years where the participant distributes or terminates from the plan in the current year, the balances are applied
                  against the current year&#8217;s distribution balance.</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-top: 3.9pt; font-size: 12pt; font-weight: bold;"> <br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">15</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="margin-top: 3.9pt; font-size: 12pt; font-weight: bold;">BERKSHIRE BANK 401(K) PLAN</div>
      <div style="margin-top: 0.25pt;"><br>
      </div>
      <div style="margin-right: 92.9pt; margin-left: 77.95pt; margin-top: 0.05pt; font-size: 12pt; font-weight: bold;">SCHEDULE H, LINE 4a &#8211; SCHEDULE OF DELINQUENT</div>
      <div style="margin-right: 92.9pt; margin-left: 77.95pt; margin-top: 0.05pt; font-size: 12pt; font-weight: bold;">PARTICIPANT CONTRIBUTIONS</div>
      <div style="margin-right: 92.85pt; margin-left: 77.95pt; font-size: 12pt; font-weight: bold;">EIN #: 04-3312097</div>
      <div style="margin-right: 149.2pt; margin-left: 134.4pt; margin-top: 0.35pt; font-size: 12pt; font-weight: bold;">THREE-DIGIT PLAN NUMBER: 002 </div>
      <div style="margin-right: 149.2pt; margin-left: 134.4pt; margin-top: 0.35pt; font-size: 12pt; font-weight: bold;">FOR THE YEAR ENDED DECEMBER 31, 2020</div>
      <div><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zb68f8a2fe0d04dbea2775f7848f8783d">

            <tr>
              <td style="width: 30.46%; vertical-align: top;">&#160;</td>
              <td style="width: 3.48%; vertical-align: top;">&#160;</td>
              <td colspan="7" style="width: 66.06%; vertical-align: top; border-bottom: #000000 2px solid;">
                <div style="text-align: center; font-size: 12pt; font-weight: bold;">Total that Constitute Nonexempt Prohibited Transactions</div>
              </td>
            </tr>
            <tr>
              <td colspan="2" style="width: 33.94%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
                <div style="font-weight: bold;"> <br>
                </div>
                <div style="font-weight: bold;">Check here if late participant loan contributions are included</div>
              </td>
              <td colspan="2" style="width: 14.49%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
                <div style="font-weight: bold;"> <br>
                </div>
                <div style="font-weight: bold;">Contributions Not Corrected</div>
              </td>
              <td colspan="2" style="width: 14.49%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
                <div style="font-weight: bold;">Contributions Corrected&#160; Outside VFCP</div>
              </td>
              <td colspan="2" style="width: 17.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
                <div style="font-weight: bold;">Contributions Pending Correction in VFCP</div>
              </td>
              <td style="width: 19.12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
                <div style="font-weight: bold;">Total Fully Corrected Under VFCP and PTE 2002-51</div>
              </td>
            </tr>
            <tr>
              <td style="width: 30.46%; vertical-align: top;">&#160;</td>
              <td style="width: 3.48%; vertical-align: top;">&#160;</td>
              <td style="width: 13.65%; vertical-align: top;">&#160;</td>
              <td style="width: 0.84%; vertical-align: top;">&#160;</td>
              <td style="width: 13.65%; vertical-align: top;">&#160;</td>
              <td style="width: 0.84%; vertical-align: top;">&#160;</td>
              <td style="width: 17.13%; vertical-align: top;">&#160;</td>
              <td style="width: 0.84%; vertical-align: top;">&#160;</td>
              <td style="width: 19.12%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 30.46%; vertical-align: top; text-align: center;">&#160;X</td>
              <td style="width: 3.48%; vertical-align: top;">&#160;</td>
              <td style="width: 13.65%; vertical-align: top; border-bottom: #000000 4px double;">
                <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160;&#160; 28,491&#160; </div>
              </td>
              <td style="width: 0.84%; vertical-align: top;">&#160;</td>
              <td style="width: 13.65%; vertical-align: top; border-bottom: #000000 4px double;">
                <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; &#8212; &#160; &#160; &#160; <br>
                </div>
              </td>
              <td style="width: 0.84%; vertical-align: top;">&#160;</td>
              <td style="width: 17.13%; vertical-align: top; border-bottom: #000000 4px double;">
                <div style="text-align: right;">$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; &#8212; &#160; &#160; &#160; <br>
                </div>
              </td>
              <td style="width: 0.84%; vertical-align: top;">&#160;</td>
              <td style="width: 19.12%; vertical-align: top; border-bottom: #000000 4px double;">
                <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#8212; &#160; &#160; &#160; <br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 30.46%; vertical-align: top;">&#160;</td>
              <td style="width: 3.48%; vertical-align: top;">&#160;</td>
              <td style="width: 13.65%; vertical-align: top;">&#160;</td>
              <td style="width: 0.84%; vertical-align: top;">&#160;</td>
              <td style="width: 13.65%; vertical-align: top;">&#160;</td>
              <td style="width: 0.84%; vertical-align: top;">&#160;</td>
              <td style="width: 17.13%; vertical-align: top;">&#160;</td>
              <td style="width: 0.84%; vertical-align: top;">&#160;</td>
              <td style="width: 19.12%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td colspan="9" style="width: 100%; vertical-align: top;">
                <div style="font-style: italic;">Schedule of Delinquent Participant Contributions as reported are a result of two late submissions by First Choice Loan Services, Inc. (&#8220;FCLS&#8221;) &#8211; a subsidiary of the Bank.</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-top: 0.25pt;"><br>
      </div>
      <br>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">16</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div>
        <div><br>
        </div>
        <div style="margin-top: 9.1pt; font-size: 12pt; font-weight: bold;">BERKSHIRE BANK 401(k) PLAN</div>
        <div style="margin-top: 0.25pt;"><br>
        </div>
        <div style="margin-right: 119.95pt; margin-left: 96.9pt; margin-top: 0.05pt; font-size: 12pt; font-weight: bold;">SCHEDULE H, LINE 4i &#8211; SCHEDULE OF ASSETS </div>
        <div style="margin-right: 119.95pt; margin-left: 96.9pt; margin-top: 0.05pt; font-size: 12pt; font-weight: bold;">(HELD AT END OF YEAR)</div>
        <div style="margin-right: 119.8pt; margin-left: 96.9pt; font-size: 12pt; font-weight: bold;">EIN #: 04-3312097</div>
        <div style="margin-right: 156.2pt; margin-left: 133.4pt; margin-top: 0.35pt; font-size: 12pt; font-weight: bold;">THREE-DIGIT PLAN NUMBER: 002 </div>
        <div style="margin-right: 156.2pt; margin-left: 133.4pt; margin-top: 0.35pt; font-size: 12pt; font-weight: bold;">DECEMBER 31, 2020</div>
        <br>
        <div style="margin-top: 0.5pt;">
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zdd008b0e38644a9cb3fc37b56ceff5a4">

              <tr>
                <td style="width: 5.03%; vertical-align: top;">&#160;</td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">&#160;</td>
                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">&#160;</td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">(a)</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td colspan="2" style="width: 59.61%; vertical-align: top; border-bottom: #000000 2px solid;">
                  <div style="text-align: center;">(b) (c)</div>
                  <div style="text-align: center;">Identity of Issuer, Borrower, Lessor or Similar Party and Description of Investment</div>
                </td>
                <td style="width: 13.49%; vertical-align: top; border-bottom: #000000 2px solid;">
                  <div style="text-align: center;">(d)</div>
                  <div style="text-align: center;">Cost</div>
                </td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top; border-bottom: #000000 2px solid;">
                  <div style="text-align: center;">(e)</div>
                  <div style="text-align: center;">Current Value (1)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5.03%; vertical-align: top;">&#160;</td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Mutual funds:</div>
                </td>
                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">&#160;</td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Templeton Global Bond Fund - A Shares</div>
                </td>
                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
                </td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">
                  <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; 1,242,785</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard 500 Index Fund Investor Shares</div>
                </td>
                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
                </td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">
                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;16,369,739</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Cash Reserve Federal MM Fund</div>
                </td>
                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
                </td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">
                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;63</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Dividend Growth Fund</div>
                </td>
                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
                </td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">
                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3,508,110</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Emerging Markets Stock Index Fund Investor Shares</div>
                </td>
                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
                </td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">
                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,938,534</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Federal Money Market Fund</div>
                </td>
                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
                </td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">
                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;9,765,632</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Intermediate-Term Treasury Fund: Inv Shr</div>
                </td>
                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
                </td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">
                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3,977,174</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard International Growth Fund Investor Shares</div>
                </td>
                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
                </td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">
                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;9,977,857</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Mid-Cap Index Fund Investor Shares</div>
                </td>
                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
                </td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">
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                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
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                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
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              <tr>
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              <tr>
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                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
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                <td style="width: 13.49%; vertical-align: top;">
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              <tr>
                <td style="width: 5.03%; vertical-align: top;">
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                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Target Retirement 2020 Fund</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
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              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Target Retirement 2025 Fund</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
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                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">
                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;15,100,255</div>
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              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Target Retirement 2030 Fund</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
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                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
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              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Target Retirement 2035 Fund</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
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                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
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              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Target Retirement 2040 Fund</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
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                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
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              </tr>
              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Target Retirement 2045 Fund</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
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                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">
                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;7,770,152</div>
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              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Target Retirement 2050 Fund</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
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                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
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              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Target Retirement 2055 Fund</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
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                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">
                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,782,076</div>
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              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Target Retirement 2060 Fund</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
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                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
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                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,268,214</div>
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              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Target Retirement 2065 Fund</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
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                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">
                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;63,976</div>
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              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Target Retirement Income</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
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                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
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                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,884,864</div>
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              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
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                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Total Bond Market Index Fund Investor Shares</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
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                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
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                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;4,456,741</div>
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              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
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                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Total Stock Market Index Fund Investor Shares</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
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                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
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                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;7,438,711</div>
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              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
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                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard U.S. Growth Fund Investor Shares</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
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                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">
                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5,795,677</div>
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              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
                </td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Vanguard Windsor II Fund Investor Shares</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
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                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">
                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3,166,540</div>
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                <td style="width: 5.03%; vertical-align: top;">&#160;</td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>Common Stock:</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">&#160;</td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
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                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>&#160;Berkshire Hills Bancorp, Inc. Common Stock</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
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                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
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                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;4,486,079</div>
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                <td style="width: 5.03%; vertical-align: top;">&#160;</td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">&#160;</td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 5.03%; vertical-align: top;">
                  <div style="text-align: center;">*</div>
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                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
                  <div>VGI Brokerage Option</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">
                  <div style="text-align: center;">&#160;**</div>
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                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,605,045</div>
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                <td style="width: 5.03%; vertical-align: top;">&#160;</td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">&#160;</td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">&#160;</td>
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              <tr>
                <td style="width: 5.03%; vertical-align: top; padding-bottom: 2px;">
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                <td style="width: 3.26%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top; padding-bottom: 2px;">
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                <td style="width: 6.89%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
                <td style="width: 3.15%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
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                  <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,202,668</div>
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              <tr>
                <td style="width: 5.03%; vertical-align: top;">&#160;</td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">&#160;</td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 5.03%; vertical-align: top;">&#160;</td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">&#160;</td>
                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">&#160;</td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top; border-bottom: #000000 4px double;">
                  <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; 170,232,091</div>
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              <tr>
                <td style="width: 5.03%; vertical-align: top;">&#160;</td>
                <td style="width: 3.26%; vertical-align: top;">&#160;</td>
                <td style="width: 52.72%; vertical-align: top;">&#160;</td>
                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">&#160;</td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">&#160;</td>
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              <tr>
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                  <div>&#160;&#160;&#160;&#160;&#160;&#160;*&#160; Represents a party-in-interest as defined by ERISA.</div>
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                <td style="width: 6.89%; vertical-align: top;">&#160;</td>
                <td style="width: 13.49%; vertical-align: top;">&#160;</td>
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                  <div>&#160;&#160;&#160;&#160;**&#160; As allowed by ERISA, cost information may be omitted with respect to participant or beneficiary</div>
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                  <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;directed investments under an individual account plan.</div>
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                <td style="width: 13.49%; vertical-align: top;">&#160;</td>
                <td style="width: 3.15%; vertical-align: top;">&#160;</td>
                <td style="width: 15.46%; vertical-align: top;">&#160;</td>
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        <div style="text-align: left; margin-left: 409.5pt;"><img width="100" height="3" src="image11.jpg"></div>
        <br>
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    </div>
    <div><br>
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    <div style="text-align: center; font-weight: bold;">SIGNATURES</div>
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    <div style="text-align: justify;"><font style="font-style: italic;">The Plan.&#160; </font>Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this
      annual report to be signed on its behalf by the undersigned hereunto duly authorized.</div>
    <div><br>
    </div>
    <div><br>
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        <tr>
          <td style="width: 44.94%; vertical-align: top;">&#160;</td>
          <td style="width: 10.14%; vertical-align: top;">&#160;</td>
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            <div style="font-weight: bold;">Berkshire Bank 401(k) Plan</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 44.94%; vertical-align: top;">&#160;</td>
          <td style="width: 10.14%; vertical-align: top;">&#160;</td>
          <td style="width: 44.92%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 44.94%; vertical-align: top;">&#160;</td>
          <td style="width: 10.14%; vertical-align: top;">&#160;</td>
          <td style="width: 44.92%; vertical-align: top;">&#160;</td>
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        <tr>
          <td style="width: 44.94%; vertical-align: top;">
            <div style="text-align: justify;">Date: June 29, 2021</div>
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          <td style="width: 10.14%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">By:&#160;&#160; <br>
            </div>
          </td>
          <td style="width: 44.92%; vertical-align: top;">&#160;<u>/s/ Jacqueline Courtwright</u><br>
          </td>
        </tr>
        <tr>
          <td style="width: 44.94%; vertical-align: top;">&#160;</td>
          <td style="width: 10.14%; vertical-align: top;">&#160;</td>
          <td style="width: 44.92%; vertical-align: top;">
            <div>Jacqueline Courtwright<br>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 44.94%; vertical-align: top;">&#160;</td>
          <td style="width: 10.14%; vertical-align: top;">&#160;</td>
          <td style="width: 44.92%; vertical-align: top;">
            <div>Executive Vice President, Chief Human Resources and Culture Officer</div>
          </td>
        </tr>

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    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div> <br>
    </div>
    <div>
      <div style="text-align: center; margin-bottom: 8pt; font-weight: bold;">EXHIBIT INDEX</div>
      <div style="margin-bottom: 8pt;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z63703bca0bb145b781042c6003108ca8" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 22.14%; vertical-align: top;">
              <div style="text-align: center; font-weight: bold;">Exhibit Number</div>
            </td>
            <td style="width: 77.86%; vertical-align: top;">
              <div style="font-weight: bold;">Description</div>
            </td>
          </tr>
          <tr>
            <td style="width: 22.14%; vertical-align: top;">
              <div style="text-align: center;"><a href="ex23-_11k2020.htm">23.1</a></div>
            </td>
            <td style="width: 77.86%; vertical-align: top;">
              <div><a href="ex23-_11k2020.htm">Consent of Crowe LLP</a></div>
            </td>
          </tr>

      </table>
      <div style="margin-bottom: 8pt;"><br>
      </div>
      <div style="margin-bottom: 8pt;"><br>
      </div>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
  </div>
</body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>ex23-_11k2020.htm
<DESCRIPTION>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Luse Gorman
         Document created using EDGARfilings PROfile 7.5.0.0
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div style="text-align: right;"><font style="font-weight: bold;">EXHIBIT 23.1</font><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; margin-top: 4.7pt; font-family: 'Times New Roman',Times,serif;">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-right: 5.75pt; margin-left: 5.95pt; margin-top: 9.2pt;">We consent to the incorporation by reference in Registration Statement No. 333-41766 on Form S-8 of Berkshire Hills Bancorp, Inc. of our report dated June
      29, 2021, appearing in this Annual Report on Form 11-K of the Berkshire Bank 401(k) Plan for the year ended December 31, 2020.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center;"><img width="167" height="32" src="image00006.jpg"></div>
    <div style="text-align: center;"><br>
    </div>
    <div style="text-align: center; margin-right: 171.5pt; margin-left: 256.95pt;">Crowe LLP&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
    </div>
    <div><br>
    </div>
    <div style="margin-right: 382.4pt; margin-left: 5.95pt; margin-top: 0.05pt;">South Bend, Indiana </div>
    <div style="margin-right: 382.4pt; margin-left: 5.95pt; margin-top: 0.05pt;">June 29, 2021</div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
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<DOCUMENT>
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<SEQUENCE>5
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end
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</DOCUMENT>
</SEC-DOCUMENT>
