History
The company was founded on February 6, 1846, as Berkshire County Savings Bank. [4] In 1997, a year before James A. Cunningham Jr. was named president and CEO, [5] the bank acquired Great Barrington Savings Bank and changed its name to Berkshire Bank. [5]
It later acquired Woronoco Savings Bank (2005), Factory Point National Bank (2007), [6] Rome Savings Bank [7] and Legacy Banks (2011), [8] Connecticut Bank & Trust Company [9] and Beacon Federal Bank (2012), [10] Hampden Bank (2015) [11] and First Choice Bank (2016). [12]
In November 2017, the year it acquired Commerce Bank & Trust Company, [13] the firrm signed a lease for a new headquarters at 60 State Street in Government Center, Boston. [14] On November 26, 2018, Richard Marotta became chairman and CEO of Berkshire Hills Bancorp after Michael Daly resigned from those roles. [15]
On August 20, 2020, a year after SI Financial Group was acquired by the bank, [2] Marotta resigned as CEO of Berkshire Hills Bancorp, whose chairman, Sean Gray, took over the role.
On January 25, 2021, the board of directors announced that Nitin J. Mhatre had been appointed CEO, effective January 29. It was also announced that Gray, who had been serving as acting CEO, would continue to serve as president and COO of the bank. [16]
On September 1, 2025, Brookline Bank merged with Berkshire Bank and will now be referred to as Beacon Bank. [17] Until then, Berkshire Bank was a subsidiary of Berkshire Hills Bancorp, a bank holding company.
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US$469.24 million (2018) [1]