Berkshire Bank is a
bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Because ...
headquartered in
Boston
Boston (), officially the City of Boston, is the state capital and most populous city of the Commonwealth of Massachusetts, as well as the cultural and financial center of the New England region of the United States. It is the 24th- mo ...
,
. It is a subsidiary of Berkshire Hills Bancorp, a
bank holding company
A bank holding company is a company that controls one or more banks, but does not necessarily engage in banking itself. The compound bancorp (''banc''/''bank'' + '' corp ration') is often used to refer to these companies as well.
United States ...
. The bank operates 130
branches
A branch, sometimes called a ramus in botany, is a woody structural member connected to the central trunk of a tree (or sometimes a shrub). Large branches are known as boughs and small branches are known as twigs. The term ''twig'' usually ...
in
New England
New England is a region comprising six states in the Northeastern United States: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. It is bordered by the state of New York to the west and by the Canadian provinces ...
, New York and the
Mid-Atlantic, and is the largest regional bank headquartered in
.
History
The bank was founded on February 6, 1846 as Berkshire County Savings Bank.
In 1997, the bank acquired Great Barrington Savings Bank and changed its name to Berkshire Bank.
In 1998, James A. Cunningham Jr. was named president and chief executive officer of the bank.
[
The bank acquired Woronoco Savings Bank in 2005, Factory Point National Bank in 2007, Rome Savings Bank in April 2011, Legacy Banks in July 2011, Connecticut Bank & Trust Company in April 2012, Beacon Federal Bank in October 2012, ]Hampden Bank
Hampden Bank (formerly Hampden Savings Bank) was one of two banks headquartered in Springfield, Massachusetts, (the other - NuVo Bank - was opened in Metro Center in 2009.) Established in 1852, Hampden Bank was a full-service bank that serves peop ...
in April 2015, First Choice Bank in December 2016, Commerce Bank & Trust Company
Commerce Bank & Trust Company is a financial institution based in Worcester, Massachusetts with 16 branches located throughout central and eastern Massachusetts. Commerce Bank & Trust was founded in 1955 and is now a full-service commercial bank ...
in October 2017, and SI Financial Group in 2019.[
In November 2017, the bank signed a lease for a new headquarters at ]60 State Street
60 State Street is a modern skyscraper on historic State Street in the Government Center neighborhood of Boston, Massachusetts. Completed in 1977, it is Boston's 19th tallest building, standing 509 feet (155 m) tall, and housing 38 floor
His ...
in Government Center, Boston
Government Center is an area in downtown Boston, centered on City Hall Plaza. Formerly the site of Scollay Square, it is now the location of Boston City Hall, courthouses, state and federal office buildings, and a major MBTA subway station, also ...
.
Michael Day announced his resignation as President and CEO of Berkshire Hills Bancorp on November 26, 2018. Richard Marotta became President and CEO thereafter.
Richard Marotta resigned as CEO of Berkshire Hills Bancorp on August 10, 2020. President Sean Gray was named Acting Chief Executive Officer of the Company.
On January 25, 2021, the Board of Directors announced that Nitin J. Mhatre was appointed CEO, effective January 29, 2021. It was also announced that Sean Gray, who had been serving as Acting CEO, will continue to serve as President and Chief Operating Officer of the Bank.
References
External links
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{{Authority control
Companies based in Boston
Banks based in Massachusetts
Banks established in 1846
1846 establishments in Massachusetts
Companies listed on the New York Stock Exchange