Berkshire Hills Bancorp: Financial, Investment and Business Expertise Will Strengthen Transformation – Form 8-K

Financial, investment and business expertise will support the transformation

BOSTON – March 14, 2022 — Berkshire Hills Bancorp, Inc. (NYSE: BHLB), the parent company of Berkshire Bank, a socially responsible and community-dedicated bank with branches in New England and New York, announced the election of Mihir A. Desai to the board of directors of the company and its wholly-owned subsidiary Berkshire Bank effective March 10, 2022. Mr. Desai is an internationally renowned professor of finance at Harvard Business School and professor of law at Harvard Law School. His broad expertise in finance, investment and business will strengthen the board’s support for Berkshire’s exciting strategic transformation (BEST). Upon his election, Mr. Desai was appointed to the Compliance and Regulatory and Risk and Capital Management Committees of the Board of Directors.

“We are delighted to welcome Mihir to our Board of Directors,” said Chairman David M. Brunelle. “Mihir’s work at Harvard and his extensive business experience will provide important information, context and perspective to our Board of Trustees.”

“Berkshire and all of our stakeholders will benefit greatly from Mihir’s expertise and wisdom. His understanding of the principles of finance in improving human lives will strengthen our Board of Directors and his commitment to making finance more accessible will enhance our BEST plan as well as supporting our vision to be a high performing, socially responsible community bank in New England and beyond,” added Berkshire Bank CEO Nitin Mhatre.

Mihir A. Desai

Mr. Desai, 53, is a professor of finance at the Mizuho Financial Group at Harvard Business School and a professor of law at Harvard Law School. Mr. Desai is an accomplished author and an expert in finance and tax policy. His books include Wisdom of Finance: Discovering Humanity in the World of Risk and Return (shortlisted for the FT/McKinsey Best Business Book of the Year 2017) and How Finance Works: The HBR Guide to Thinking Smart about the Numbers. He is a Research Associate in the Public Economics and Corporate Finance Programs of the National Bureau of Economic Research and was Co-Director of the India Program of NBER. His research has been cited in leading academic journals and in the popular press and served as the basis for his extensive testimony before the Senate Finance Committee and the House Ways and Means Committee. In addition to his work at Harvard University, his professional experiences include CS First Boston, McKinsey & Co., and advising a number of corporations and government organizations. Mr. Desai obtained his Ph.D. in Political Economy from Harvard University, his MBA as a Baker Scholar from Harvard Business School, and a BA in History and Economics from Brown University. He currently resides in Cambridge, Massachusetts, and will serve as an independent director.

ABOUT BERKSHIRE HILLS BANCORP

Berkshire Hills Bancorp is the parent company of Berkshire Bank, which is transforming what it means to bank its neighbors socially, humanly and digitally to empower the financial potential of people, families and businesses in its communities as it pursues its vision of to be the leading socially responsible omnichannel community bank in the markets it serves. Berkshire Bank provides corporate and personal banking, mortgages, wealth management and investments.

Boston-based Berkshire has approximately $11.6 billion in assets and operates 106 branches in New England and New York, and is a member of the Bloomberg Gender-Equality Index. To learn more, call 800-773-5601 or follow us on Facebook, Twitter, Instagram and LinkedIn.

MEDIA CONTACT

Alicia Jacobs, AVP in charge of public relations

Email: [email protected]

INVESTOR RELATIONS CONTACTS

Kevin Conn, SVP, Investor Relations and Corporate Development
Email: [email protected]
Tel: (617) 641-9206

David Gonci, Head of Capital Markets
Email: [email protected]
Tel: (413) 281-1973

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