Sunday, April 19, 2015 11:39am
North Adams, MA now: 50 °   
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
North Adams Little Leaguers to Appear on NESN Broadcast
State Secretary Ash Preps Berkshire Leaders For Baker's Economic Plans
Clark Art Unveils Super Bowl Prize
BFAIR Speaker Example in Overcoming Challenges
Business, Education, Political Officials Eye Growth Of Innovation Economy
Cultural Pittsfield This Week: April 17-23
Pittsfield Food For Fines Program Ends April 18
Casting, Opening Dates Set for Shakespeare & Company’s 38th Season
Pittsfield Woman Tapped as New Executive Director at Snow Farm
Downing Named One of the 'Good Guys' by Massachusetts Women's Political Caucus

 


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)
Tags:
Adams Sabic Williamstown Gas Prices Berkshire Chamber Of Commerce Berkshire Chamber Qualprint Bj's Excelsior Merger Currency Crane & Co. Small Business Statistics Berkshire Living North Adams State Talkberkshires Auction Breakfast Berkshire Enterprises Berkshire Creative Jobs Store Opening Pine Cone Hill Walmart Wmeco Statistics Unemployment Great Barrington Unemployment Flood Pittsfield Expansion Baldwin
Popular Entries:
Berkshire Jobless Rates Drop
Bay State Continues to Add Jobs
Excelsior Brings Greeting Card Co. To North Adams
New Dog Training Center Open in North Adams
White Hart Inn For Sale for $5M
Covanta's Pittsfield Facility Gets High Marks from OSHA
Adams Co-Op, South Adams Bank Merger Approved
Williamstown Chamber Seeks Input on Future Role
Storey Publishing to Host Next Creative Challenge
Aladco Installs New 'Green' Washing Machine
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
STEM, Industry Forum
U.S. Rep. Richard Neal and the Berkshire Chamber of...
BFAIR Annual Meeting 2015
BFAIR holds its annual breakfast meeting at the Williams...
3rd Thursday Events 2015
Director of Cultural Development Jen Glockner and Mayor...
Berkshire Chamber Nite @...
The Berkshire Chamber of Commerce held a networking event...
Tennis: MM Girls @ PHS
Monument Mountain girls tennis team won 5-0 over Pittsfield...
Tennis: MM Boys @ PHS
Monument Mountain boys tennis team won 4-1 over Pittsfield...
IS183 Versace Tchotchke Gala
IS183 Art School of the Berkshires' annual over-the-top...
Tennis: MG @ Lenox
Cami Sachetti and Emily Czelusnick battled to a 7-5, 6-4...
St. Joseph High School Play
Students at St. Joseph High School are putting their own...
Wahconah Spring Musical '9 to...
Wahconah Regional High School students rehearse for the...
Pittsfield Eggstravaganza...
Youngsters scrambled for treats on Sunday morning at...
Girls Lacrosse: PHS vs MG
Spring has slightly sprung in Williamstown as the Mount...
Schantz Exhibit at Berkshire...
Attendees mingle at a reception Thursday for the opening of...
Freeman Center Sex Assault...
The Elizabeth Freeman Center held a rally to raise...
Tyer Announces for Mayor
Linda Tyer, Pittsfield city clerk, announced her candidacy...
Pittsfield Vietnam Memorial
A memorial service was held in Park Square for those killed...
STEM, Industry Forum
U.S. Rep. Richard Neal and the Berkshire Chamber of...
BFAIR Annual Meeting 2015
BFAIR holds its annual breakfast meeting at the Williams...
3rd Thursday Events 2015
Director of Cultural Development Jen Glockner and Mayor...
Berkshire Chamber Nite @...
The Berkshire Chamber of Commerce held a networking event...
Tennis: MM Girls @ PHS
Monument Mountain girls tennis team won 5-0 over Pittsfield...
| 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