INVESTOR ALERT: Beacon Federal Bancorp, Inc. Is Investigated by Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Beacon Federal Bancorp, Inc. (“Beacon” or the “Company”) (NASDAQ: BFED) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Berkshire Hills Bancorp, Inc. (“Berkshire”) (NASDAQ: BHLB) in a cash-and-stock deal valued at about $132 million. Under the terms of the proposed transaction, 50% of the outstanding Beacon shares will be exchanged for Berkshire shares at a fixed exchange ratio of 0.92 shares for each Beacon share, while the remaining 50% of Beacon shares will be exchanged for cash in the amount of $20.50 per share. The transaction is valued at $19.73 per Beacon share, based on the $20.60 Berkshire closing stock price on June 4, 2012, while according to Yahoo! Finance, at least one financial analyst has set a price target of $20.00 for Beacon.

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Whether Beacon’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Beacon’s shares and by how much this proposed transaction undervalues the Company to the detriment of Beacon’s shareholders are the key focus of this investigation.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients.

If you own common stock in Beacon and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/BFED or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

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