Pittsfield’s Berkshire Hills Bancorp has reported net income of $3.4 million for the third quarter, a 78 increase from $1.9 million reported during the same period last year.

For the first nine months of the year, Berkshire’s net income increased $10.2 million, up from $8.1 million during the same period in 2009.

"We produced another solid quarter and exceeded our expectations in all major categories as we continue to build positive earnings momentum," said Michael P. Daly, president and chief executive officer. "Our commercial lending teams continued to attract quality loan relationships and we maintained a strong pace of deposit growth with disciplined pricing that resulted in solid margin expansion. All of our major asset quality metrics are favorable and despite an uncertain national economy we expect that our asset quality metrics will continue to compare favorably based on current trends."

The bank recently announced its plans to acquire Rome Bancorp, which operates five branches in central New York. The company plans to complete the transaction in the first quarter of 2011.

Daly added: "We will continue to pursue opportunities for both strong organic growth and growth through partnerships that deliver solid benefits to all of our constituencies."

The bank also announced Charles Leach has been promoted to senior vice president and chief investment officer. He will succeed Senior Vice President Tom Barney who will retire.

Scott Schiff has also been named senior vice president in wealth management. He previously served as vice president and director of sales at Legacy Banks.

Berkshire’s board of directors declared a 16-cent cash dividend. The dividend will be available to stockholders of record at the close of business on Nov. 4 and payable on Nov. 18.