Berkshire Bank

Berkshire Bank is an American bank headquartered in Boston, Massachusetts. It is a subsidiary of Berkshire Hills Bancorp, a bank holding company. The bank operates 83 branches in New England, and New York, and is the third largest regional bank headquartered in Massachusetts.^[2][3]

Berkshire Bank

Company type	Public
Traded as	NYSE: BHLB S&P 600 component
Industry	Banking
Founded	February 6, 1846; 179 years ago (1846-02-06) in Pittsfield, Massachusetts
Headquarters	Boston, Massachusetts , United States
Number of locations	83 branches
Key people	Nitin J. Mhatre, CEO Sean A. Gray, president and COO Brett Brbovic, CFO
Revenue	US$469.24 million (2018)[1]
Operating income	US$133.41 million (2018)[1]
Net income	US$105.77 million (2018)[1]
Total assets	US$12.212 billion (2018)[1]
Total equity	US$1.553 billion (2018)[1]
Number of employees	1,917 (2018[1])
Parent	Berkshire Hills Bancorp
Divisions	Commerce Bank & Trust Company
Website	berkshirebank.com

History

The bank was founded on February 6, 1846 as Berkshire County Savings Bank.^[4]

In 1997, the bank acquired Great Barrington Savings Bank and changed its name to Berkshire Bank.^[5] In 1998, James A. Cunningham Jr. was named president and chief executive officer of the bank.^[5]

The bank acquired Woronoco Savings Bank in 2005, Factory Point National Bank in 2007,^[6] Rome Savings Bank in April 2011,^[7] Legacy Banks in July 2011,^[8] Connecticut Bank & Trust Company in April 2012,^[9] Beacon Federal Bank in October 2012,^[10] Hampden Bank in April 2015,^[11] First Choice Bank in December 2016,^[12] Commerce Bank & Trust Company in October 2017,^[13] and SI Financial Group in 2019.^[2]

In November 2017, the bank signed a lease for a new headquarters at 60 State Street in Government Center, Boston.^[14]

Michael Daly announced his resignation as president and CEO of Berkshire Hills Bancorp on November 26, 2018. Richard Marotta became president and CEO thereafter.^[15]

Richard Marotta resigned as CEO of Berkshire Hills Bancorp on August 10, 2020. President Sean Gray was named acting CEO of the company.

On January 25, 2021, the board of directors announced that Nitin J. Mhatre had been appointed CEO, effective January 29, 2021. It was also announced that Sean Gray, who had been serving as acting CEO, would continue to serve as president and COO of the bank.^[16]