Berkshire Bank
| Company type | Subsidiary |
|---|---|
| Industry | Banking, Financial services |
| Founded | February 6, 1846 |
| Headquarters | Boston , United States |
Area served | New England and New York |
Key people | Nitin J. Mhatre (CEO), Sean Gray (President and COO) |
| Parent | Berkshire Hills Bancorp |
Berkshire Bank is a financial institution based in Boston, Massachusetts, operating as a subsidiary of Berkshire Hills Bancorp. With a network of 83 branches throughout New England and New York, it stands as the third largest regional bank headquartered in Massachusetts.
History
The bank originated on February 6, 1846, under the name Berkshire County Savings Bank.[1] It adopted the Berkshire Bank name in 1997 following the acquisition of Great Barrington Savings Bank.[2] In 1998, James A. Cunningham Jr. took on the roles of president and CEO.[2]
Berkshire Bank grew its footprint by acquiring several institutions over the years, including Woronoco Savings Bank (2005), Factory Point National Bank (2007), Rome Savings Bank (2011), Legacy Banks (2011), Connecticut Bank & Trust Company (2012), Beacon Federal Bank (2012), Hampden Bank (2015), First Choice Bank (2016), Commerce Bank & Trust Company (2017), and SI Financial Group (2019).Cite error: The opening <ref> tag is malformed or has a bad nameCite error: The opening <ref> tag is malformed or has a bad nameCite error: The opening <ref> tag is malformed or has a bad nameCite error: The opening <ref> tag is malformed or has a bad nameCite error: The opening <ref> tag is malformed or has a bad nameCite error: The opening <ref> tag is malformed or has a bad nameCite error: The opening <ref> tag is malformed or has a bad nameCite error: The opening <ref> tag is malformed or has a bad name[3]
In November 2017, the bank finalized a lease for new headquarters located at 60 State Street in Boston's Government Center.Cite error: The opening <ref> tag is malformed or has a bad name
Regarding executive leadership, Michael Daly stepped down as president and CEO in November 2018 and was succeeded by Richard Marotta, who resigned in August 2020. Sean Gray acted as interim CEO until Nitin J. Mhatre assumed the CEO position on January 29, 2021; Gray remains as president and COO.Cite error: The opening <ref> tag is malformed or has a bad nameCite error: The opening <ref> tag is malformed or has a bad name