Adams Community Bank Holds Annual Meeting, Announce Growth

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ADAMS, Mass. — The annual meeting of the Community Bancorp of the Berkshires, MHC, the parent company of Adams Community Bank, was held on April 10, 2024, at Charles H. McCann Technical School in North Adams.
 
The meeting included reviewing the 2023 financial statements for the Bank, electing directors and corporators, and highlighting upcoming executive personnel changes.
 
"In 2023, the Bank experienced another year of growth in assets, loans, and deposits, noting the Pittsfield branch reached $26 million in customer deposits from its opening in December of 2022," President and CEO of Adams Community Bank Charles O'Brien said. "Those deposits were loaned out locally during 2023 and helped drive our #1 ranking in both mortgage and commercial real estate lending, according to Banker and Tradesman."
 
At year-end 2023, total assets were $995 million, and O'Brien noted the Bank crossed the $1 billion threshold during the first quarter of 2024.
 
Board chair Jeffrey Grandchamp noted with O'Brien's upcoming retirement, this will be the final annual meeting of the CEO's tenure since he joined the Bank in 1997. He thanked him for his 27 years of dedication to the Bank. He acknowledged the evolution of the Bank as it became the premier community bank in the Berkshires, noting that branches grew from 3 to 10, that employees grew from 40 to 135, and that assets grew from $127 million to $1 billion. 
 
An executive search is underway for O'Brien's replacement.

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Adams Raises Transfer Station Permits

By Tammy DanielsiBerkshires Staff
ADAMS, Mass. — The Selectmen on Wednesday raised transfer station permit fee for the coming fiscal year to cover a gap in operations. 
 
The board set a fee of $125 for a permit that include three sheets, or 24, bag tags. Replacement and additional permits will remain at $10 and bag tags at $1.60, or $8 for a sheet of five. 
 
The permit went from $75 to $100 last year.
 
"The driving factor, of course, for the transfer station is the cost of the removal of the materials. That would be the municipal solid waste, or MSW, commingled with your glasses, your plastics and your papers," said Town Administrator Jay Green. 
 
With estimates for May and June, the projected total cost is $81,000, of which $71,000 is removal and the balance labor. 
 
This past year saw 564 permits sold  raising $56,400, replacement and additional permits brought in $890, and 7,690 bag tags $12,304. 
 
That raised in total $69,500, some $11,000 short. 
 
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