Pittsfield-based Berkshire Hills Bancorp recently raised $33.5 million from the sale of 1.5 million shares of common stock.

Additionally, the sale’s underwriters have an unexercised 30 day over-allotment option to purchase an additional 225,000 shares, the bank said. Sandler O’Neill + Partners, L.P. acted as lead book-running manager and Keefe, Bruyette & Woods was a co-manager for the offering.

 “Due to strong investor demand, we increased the amount of the offering by 20 percent.  The offering proceeds will bolster our balance sheet and position us well to continue to support our markets with loans and deposits, and to take advantage of growth opportunities that may develop as a result of current events,” said Berkshire’s President and CEO Michael P. Daly.