Home About Archives RSS Feed

MountainOne Uniting Three Banks Under One Charter

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
McCann Senior Named U.S. Presidential Scholar
Berkshire Chamber, Visitors Bureau Merge Into 1Berkshire
Clarksburg Passes Fiscal 2017 Budgets, New Zoning Bylaws
Mount Greylock School Committee Member Charges Open Meeting Violation
Berkshire Innovation Center Hitting Number of Funding Hurdles
St. Stan's Students Walk to Raise Money for Water Project
Lanesborough Looks to Join Berkshire Mosquito Control Project
Talk to Your Adult Children About Smart Financial Moves
Pittsfield Approves Extending Tax Breaks For Beacon Cinema
Mister Tire Closing After 38 Years in North Adams

 


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 (5)
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 (3)
manufacturing (9)
media (8)
medical (4)
networking (33)
new (22)
pricing (1)
projects (2)
promotion (6)
publishing (13)
radio (2)
real estate (8)
retail (29)
technology (13)
training (5)
transportation (1)
volunteer (1)
website (2)
wholesale (7)
workshops (6)
Archives:
July 2015 (1)
Tags:
Walmart State Jobs Qualprint Talkberkshires Sales Tax Gas Prices Excelsior Wmeco Berkshire Living Social Media Unemployment Store Opening Unemployment Currency Great Barrington Berkshire Enterprises Baldwin Williamstown Bj's Auction Statistics Small Business Berkshire Creative Flood Expansion Breakfast Sabic Statistics North Adams Crane & Co. Adams Pittsfield Berkshire Chamber Of Commerce Merger
Popular Entries:
Berkshire Jobless Rates Drop
Bay State Continues to Add Jobs
Excelsior Brings Greeting Card Co. To North Adams
White Hart Inn For Sale for $5M
Williamstown Chamber Seeks Input on Future Role
New Dog Training Center Open in North Adams
Aladco Installs New 'Green' Washing Machine
Storey Publishing to Host Next Creative Challenge
Covanta's Pittsfield Facility Gets High Marks from OSHA
Adams Co-Op, South Adams Bank Merger Approved
Recent Entries:
Biz Briefs: Mr. Tire, Tax Holiday, Business Directory
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