Berkshire Hills Bancorp increased its core earnings by 20 percent during the fourth quarter of 2014, boosted in particular by growth in its commercial loan portfolio.

Net income for the quarter ended Dec. 31 totaled $11.4 million, compared with $10.5 million in the comparable period in 2013. For the full year, net income totaled $33.7 million, compared with $41.1 million in 2013.

Loans grew 11 percent on an annualized basis in the fourth quarter, totaling $4.7 million on Dec. 31. Commercial loans grew 15 percent on an annualized basis, matching the full year growth rate and totaling $2.4 million at the year’s end. Residential mortgages grew 14 percent, annualized, during the fourth quarter and totaled $1.5 million.

This year, Berkshire, which has eight locations in the Greater Hartford area, will target double-digit overall loan growth, with an emphasis on commercial and industrial lending, CEO Mike Daly said during a conference call with investors, though he also cautioned investors that the first quarter might be a little seasonally soft.

Daly also said on the call that Berkshire would look to build fee income with a “laser focus” in the year ahead. Fee income for the fourth quarter of last year totaled $13 million, up 17 percent from $11.1 million in the year-ago period. Meanwhile, net interest income increased year-over-year to $46.6 million from $39.8 million in the fourth quarter of 2013.

The parent company for Berkshire Bank also announced during the call that it would close three branches in the Springfield area associated with its acquisition of Hamden Bank, which is expected to close in the second quarter this year. That leaves Berkshire 18 branches in the Greater Springfield, Mass. market.

Total assets increased about 14 percent to $6.5 billion at year-end 2014, compared with $5.7 billion in 2013.

The company’s board of directors also voted to pay a cash dividend of 19 cents per share on Feb. 26 to shareholders of record on Feb. 12.