PITTSFIELD, Mass. — Berkshire Bank on Tuesday said it had completed the acquisition of the business model, expertise and certain other assets of Greenpark Mortgage Corp. of Needham.
As the part of this transaction, Berkshire will maintain Greenpark's entire mortgage lending team in Needham along with its two founders, Paul Gershkowitz and Patty O'Meara, who will continue to provide leadership as first vice presidents of Berkshire Bank.
Michael P. Daly, Berkshire's president and chief executive officer stated,
"We are so pleased to bring the well-regarded Greenpark team into the Berkshire Bank family," said Berkshire President and CEO Michael P. Daly. "This partnership enhances our residential lending capabilities and our efforts to expand our reach into eastern Massachusetts. We look forward to carrying on the solid practices, processes and customer service of Greenpark Mortgage, which have made them so successful and which complement well our culture of community mortgage lending."
Greenpark will operate as the Greenpark Mortgage Division of Berkshire Bank and will continue to serve as the home mortgage company of the Massachusetts Teachers Association. Greenpark was established in 2001 in Needham and now also operates offices in Quincy, Cambridge, Methuen, Tewksbury, Andover and Westborough. Its mortgage professionals are licensed in the New England states and Mississippi.
This is the latest acquisition of Berkshire Hills Bancorp., which added Rome Savings Bank of New York and Legacy Banks last year and Connecticut Bank & Trust last month. Berkshire Bank is the largest financial institution in Berkshire County.
PITTSFIELD, Mass. — Berkshire Hills Bancorp, Inc., the parent company of Berkshire Bank, completed its acquisition of CBT – The Connecticut Bank and Trust Company, a $280 million bank with eight banking offices serving the Greater Hartford area.
CBT has been merged into Berkshire Bank, and the Connecticut offices will operate under the name Berkshire Bank – CBT Region.
"We are delighted to welcome the CBT team to the Berkshire Bank family, and we look forward to building on the strong foundation that they have established in Connecticut," Berkshire President and CEO Michael P. Daly said.
Berkshire Bank will maintain CBT's visual identity as well as its name. Additionally, David Lentini, former CBT chairman and chief executive officer, has transitioned to Berkshire Bank as Connecticut regional leader.
Connecticut Bank and Trust has operated branch offices in Glastonbury, Newington, Rocky Hill, Vernon, West Hartford, Windsor and Hartford. These branches will now operate as Berkshire Bank – CBT Region with full systems conversion occurring later this year.
PITTSFIELD, Mass. — State Treasurer Steven Grossman is visiting the Berkshires on Friday.
Grossman will be in Pittsfield in the morning to highlight his Small Businss Banking Partnership. According to Grossman's office, the partnership directs deposits usually held by large institutions into state community banks with the understaninding they would increase their lending to small businesses.
He will meet with banking officials and elected officials at Berkshire Bank and then tour Starbase Technologies, which received a partnership loan.
In the afternoon, he will visit the new Luma's Muffin and Mug on Main Street in North Adams. Luma's is also a recipient of a partnership loan.
Cutting the ribbon at the March 7 grand opening celebration NBT Bank Area Manager Daniel Kinney, left, Lenox Chamber of Commerce Director Ralph Petillo, Lenox Selectwoman Linda Procopio Messana, Lenox Branch Manager John Bortolotto and Miss Hall's School Chief Financial Office Susan Baumgarten.
LENOX, Mass. — NBT Bank officials and area dignitaries celebrated the opening in Lenox on Wednesday of the bank's fifth Berkshire County office.
The NBT Bank of Lenox, located at 2 Holmes Road, officially opened Feb. 7 and features a full service drive-up lane, night depository facilities, coin counting machine and a 24-hour ATM.
"We are pleased to announce the opening of our new Lenox Office that provides us with another opportunity to offer residents and businesses convenient access to our unique brand of community banking," NBT Bank Vice President and Area Manager Daniel Kinney said. "The opening of this office symbolizes NBT Bank's commitment to the local community and the Berkshire region."
NBT Bank offers personal banking, asset management and business services through a network of 132 banking locations in four states. NBT Bank and its parent company, NBT Bancorp Inc., are headquartered in Norwich, N.Y. NBT Bancorp Inc. had assets of $5.6 billion as of Dec. 31, 2011, and is traded on the NASDAQ Global Select Market under the symbol NBTB.
Customers of what had been Adams Co-Operative Bank and South Adams Savings Bank may haven noticed the new signs for the merged institutions installed on Saturday at its local branches. Behind the scenes, new data systems and servers were being upgraded and converted.
Customers logging in can keep their old passwords but will have to chose new security questions and a new security image.
Bank officials said the institution was communicating with customers and using local vendors whenever possible during the merger as part of its committment to the area.
The new name was developed through customer surveys and the signage manufactured and installed by a Berkshires company, said CEO Charles O'Brien. Bank President Joseph Truskowski said customers and community will always come first. "We are pleased to say that our merger won't change this philosophy — customers will continue to see the same faces, same places and only a new name."
To celebrate the merger, Adams Community Bank will be holding a daily drawing each business day for a month to give away new logo merchandise including coolers, stadium chairs, picnic blankets and auto kits. No purchase is necessary to participate in this drawing; just fill out a form and drop it in a ballot box at your local branch.
Adams Community Bank consists of seven full-service offices located in Adams, Cheshire, Lanesborough, Lee, Williamstown and North Adams.