Berkshire Hills Bancorp, the Pittsfield-based parent company of Berkshire Bank, reported this week that its net income increased 9.4 percent in the fourth quarter of 2012, from $8.5 million in the fourth quarter of 2011 to $9.3 million at the end of 2012. Reported income for the full year was $33.2 million, up from $17.3 million at the end of 2011.

Berkshire Bancorp, which recently acquired Beacon Bancorp and completed conversion of its Connecticut Bank and Trust systems in November, also saw its total assets increase 14 percent to $5.3 billion, from $4.6 billion in the previous quarter, and 32.5 percent from $4 billion at the end of 2011. The company said the Beacon acquisition added $800 million in assets.

The company reported record core earnings of $13.2 million for the fourth quarter, up from its 2011 fourth quarter core earnings of $9.3 million.  For the full year 2012, Berkshire reported $44.2 million in core earnings, compared with $27.7 million for 2011.

"Our fourth quarter net interest margin increased and our core return on equity rose above 8 percent.  With these achievements, we raised our quarterly dividend to the highest level in our history," Chairman and CEO Michael P. Daly said in a statement. "We achieved 49 percent year over year revenue growth in the fourth quarter.  Our total assets reached $5.3 billion, placing us among the 100 largest exchange traded banks in the U.S.  We have a competitive advantage that we expect will result in sustainable market share growth delivered with increased efficiency and profitability."

The board of directors also voted to declare a cash dividend of 18 cents per share to shareholders of record at the close of business on Feb. 14, to be paid on Feb. 28. The dividend was increased in the prior quarter by 6 percent from the previous 17 cents per share level.