Friday, October 31, 2014 01:11pm
North Adams, MA now: 48 °   
Send news, tips, press releases and questions to info@iBerkshires.com
The Berkshires online guide to events, news and Berkshire County community information.
SIGN IN | REGISTER NOW   

Home About Archives RSS Feed
Follow iBWatercooler on Twitter
MountainOne Uniting Three Banks Under One Charter
On: 09:42AM / Friday December 21, 2012
Important
2
Interesting
1
Funny
0
Awesome
16
Infuriating
0
Ridiculous
1

NORTH ADAMS, Mass. — MountainOne Financial Partners announced that it plans to unite its banking operations under a single charter in 2013. Following the merge of Hoosac Bank and Williamstown Savings Bank operations earlier this year, the company is moving forward in bringing its South Coastal Bank unit into a common MountainOne Bank charter for all three banks. 

The banks will retain their current identities and independent community focus while operating as "A Division of MountainOne Bank."  The integration is subject to regulatory approval and is targeted for completion in the third quarter of 2013. 
 
"We will preserve the heritage of three fine institutions," said Thomas S. Leavitt, president and CEO of MountainOne.  "We are fulfilling a commitment to a common platform that will drive efficiency and allow us to focus our programs on outstanding customer care. South Coastal Bank CEO Robert Fraser and I have worked with our teams to assure that we will honor the history of deep community connections in the Berkshires and on the South Shore of Massachusetts. MountainOne's ten years of development has led us to this opportunity to achieve integration of products, services, and systems."  
 
Leavitt said that he will serve as CEO of the unified bank and that Fraser will become chief operating officer.
 
"Our South Coastal board, management team, and staff are all excited to be part of a larger banking presence in the Commonwealth," Fraser said. "We will come together with new customer initiatives supporting a strong identity and local decision making in each of our communities. 
 
"As I have visited North Adams, Williamstown, and Pittsfield over the past year, I have been pleased with the strength of the MountainOne name and the strong ties that Hoosac Bank and Williamstown Savings Bank have forged for well more than a century. I look forward to working with Tom and our banking teams in eastern and western Massachusetts to advance all of MountainOne."
 
"We are decidedly leaning into the 21st Century with our MountainOne Financial Center in Pittsfield," Leavitt said. "This new facility in an important market brings the best of our banking, insurance, and investment advisory services together in a compelling way. Our communities can expect to see this model advanced as we bring our three banking brands into alignment and innovate with both our physical and digital delivery channels."
 
The action to consolidate Hoosac Bank, Williamstown Savings Bank (a division of Hoosac Bank) and South Coastal Bank under one bank charter has been approved by the board of directors of each of the banks and by MountainOne Financial Partners. Formal applications will be filed with the Massachusetts Division of Banks and the Federal Deposit Insurance Corporation.


0 Comments
     
News Headlines
Pittsfield Debates Control Over School Department Budget
Lenox Calling Special Town Meeting
Community Bids Farewell to MCLA's Grant & Canavan
Adams COA Loads Up 'Buckets of Sand' for Local Senior Citizens
BRPC Concludes Train Station Study, Encourages Towns To Stay Involved
2014 Bazaars & Craft Fairs
Berkshire County Arc Launches 2014 Annual Campaign
North Adams Edward Jones Office Supports Toys for Tots Drive
Adams Selectmen Updated on Park Street, Town Projects
Visitors Bureau: Tourists Spent $161 Million In Lenox Last Year

 


Bill Schmick separates the bull from the bears in his weekly columns on investing and market wrap-ups.



Categories:
advertising (10)
agriculture (1)
arts (7)
automotive (4)
awards (16)
banking (41)
Beacon (1)
broadband (1)
business (52)
chamber (25)
closing (5)
development (23)
dining (5)
domestic animals (2)
energy (6)
entertainment (2)
federal (4)
finances (5)
food (5)
fundraiser (3)
green (2)
grocery (5)
hospitality/hotel (5)
housing (0)
insurance (3)
investment (6)
jobs (35)
labor (17)
laws (4)
Legislature (2)
manufacturing (9)
media (8)
medical (4)
networking (33)
new (22)
pricing (1)
projects (2)
promotion (6)
publishing (12)
radio (2)
real estate (8)
retail (29)
technology (13)
training (5)
transportation (1)
volunteer (1)
website (2)
wholesale (7)
workshops (6)
Archives:
September 2014 (1)
August 2014 (1)
March 2014 (2)
January 2014 (1)
December 2013 (2)
November 2013 (3)
Tags:
Baldwin Store Opening Wmeco Berkshire Creative Berkshire Chamber Of Commerce Berkshire Chamber Berkshire Enterprises Breakfast Crane & Co. Excelsior Walmart Small Business Great Barrington Auction Berkshire Living Merger Gas Prices Qualprint Unemployment Sabic Pittsfield Jobs Pine Cone Hill Unemployment Adams Talkberkshires Flood Williamstown Statistics Statistics State Expansion North Adams Currency Bj's
Popular Entries:
Berkshire Jobless Rates Drop
Bay State Continues to Add Jobs
Excelsior Brings Greeting Card Co. To North Adams
Covanta's Pittsfield Facility Gets High Marks from OSHA
Adams Co-Op, South Adams Bank Merger Approved
New Dog Training Center Open in North Adams
White Hart Inn For Sale for $5M
Williamstown Chamber Seeks Input on Future Role
Simmons Expanding Into Customized Lines
Real Estate Panel to Tour S. County, Pittsfield Sites
Recent Entries:
Berkshire Eagle Parent Mulling Newspaper Sales
Digitial First Puts Vermont News Buildings on the Market
Berkshire Chamber, Neal Hosting Facebook for Business Workshop
Winstanley Wins Big at Annual ADDY Awards
Eggs & Issues Event Focuses on Rail Cars, Development
State Unemployement Rate Drops Slightly
New Biotech Firm Setting Up in Pittsfield
Crane Museum Opens Retail Store
License Commission Approves River Street Package Move
North Adams Big Y Celebrates Renovations


View All
Grant & Canavan Farewell...
MCLA President Mary Grant and her husband, James Canavan,...
Girls Soccer: Franklin Tech...
McCann Tech girls celebrate 3-0 semi-finals win advance to...
Girls Soccer: Pittsfield vs...
The Pittsfield and Wahconah girls soccer teams on Tuesday...
Soccer: Putnam vs McCann Tech
The McCann Tech boys soccer team closed out the home...
Soccer: Hoosac Valley vs...
MCLA Boo Bash 2014
The annual MCLA Boo Bash hosted by Berkshire Towers...
Girls Soccer: Commerce vs...
McCann girls soccer team Senior Day game on Monday...
Adams Lions Club Halloween...
Children followed the Hoosac Valley Marching Band down Park...
Girls Soccer : Mount Greylock...
Flynn scored her second goal of the game to stop a Hoosac...
Football: Mount Greylock vs...
The undefeated Wahconah High School football team shutout...
Football: Lee vs Monument
Saturday afternoon football Lee wins over Monument Mountain...
The Massachusetts Junior...
The Massachusetts Junior Classics League held its fall...
Football: Hoosac Valley vs...
Hoosac Valley overpowers Drury 63-12, Saturday afternoon.
Pittsfield Halloween Parade...
Monsters and zombies, princesses and Jedi ushered in the...
Soccer: Wahconah vs Lenox
Collin Parrott scored three times on Tuesday to lead the...
Girls Soccer: Wahconah vs...
Rachel Donahue scored with four minutes left to give the...
Grant & Canavan Farewell...
MCLA President Mary Grant and her husband, James Canavan,...
Girls Soccer: Franklin Tech...
McCann Tech girls celebrate 3-0 semi-finals win advance to...
Girls Soccer: Pittsfield vs...
The Pittsfield and Wahconah girls soccer teams on Tuesday...
Soccer: Putnam vs McCann Tech
The McCann Tech boys soccer team closed out the home...
Soccer: Hoosac Valley vs...
| Home | A & E | Business | Community News | Dining | Real Estate | Schools | Sports & Outdoors | Berkshires Weather | Weddings
Advertise | Recommend This Page | Help Contact Us | Privacy Policy| User Agreement
iBerkshires.com is owned and operated by: Boxcar Media 102 Main Street, North Adams, MA 01247 -- T. 413-663-3384 F.413-664-4251
© 2000 Boxcar Media LLC - All rights reserved