Berkshire Bank in Pittsfield, Massachusetts (MA), NY, VT
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Berkshire Bank in Pittsfield, Massachusetts (MA), NY, VT
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Berkshire Bank - Overview

  • General
  • FDIC Certificate #: 23621
    Status: Active
    Federal Reserve ID: 473501
    Date Established: Febuary 06, 1846
    WWW: http://www.berkshirebank.com
    Trust Powers Granted: Yes
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 67 (Domestic: 67, Interstate: Yes)
    OTS Docket #: 7290
    FDIC's unique #: 16536
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 02, 1982
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: August 24, 2011
    Last Data Update: August 24, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 24 North Street, Pittsfield, MA 1201
    County: Berkshire
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Springfield Ma
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Pittsfield, MA (#6320)
    Core Based Statistical Area (CBSA): Pittsfield, MA (#38340)
    CBSA Metro Statistical Area: Pittsfield, MA (#38340)
  • History of Changes
  • Participated in Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $3,955.6 mil
    Equity capital: $517.7 mil
    Deposits held in domestic offices: $3,176.2 mil
    Return on assets (ROA): 0.57% ($22.5 mil)
    Quarterly return on assets: 0.92% ($36.4 mil)
    Return on Equity (ROE): 4.44% ($23.0 mil)
    Quarterly return on equity: 7.15% ($37.0 mil)
    Net income: $19.1 mil
    Quarterly Net income: $9.2 mil
    Pretax return on assets: 0.77% ($30,458.4 mil)
    Quarterly Pretax return on assets: 1.40% ($55,378.9 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 690Total employees (full-time equivalent)
  • $3,955,635Total assets
  • $48,015Cash and due from depository institutions
  • $1,530Interest-bearing balances
  • $478,669Securities
  • $27,058Federal funds sold & reverse repurchase agreements
  • $2,928,048Net loans & leases
  • $32,444Loan loss allowance
  • $17,395Trading account assets
  • $58,571Bank premises and fixed assets
  • $1,900Other real estate owned
  • $201,475Goodwill and other intangibles
  • $3,955,635Life insurance assets
  • $194,504All other assets
  • $3,437,944Total liabilities and capital
  • $3,176,204Total liabilities
  • $2,700,415Total deposits
  • $3,176,204Interest-bearing deposits
  • $76Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $3,505Federal funds purchased & repurchase agreements
  • $221,938Trading liabilities
  • $0Other borrowed funds
  • $36,297Subordinated debt
  • $517,691All other liabilities
  • $517,691Total equity capital
  • $517,691Total bank equity capital
  • $0Perpetual preferred stock
  • $500Common stock
  • $458,458Surplus
  • $58,733Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $1,455Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $34,418Income earned, not collected on loans
  • $652Earning assets
  • $11,350Long-term assets (5+ years)
  • $3,435,305Average Assets, year-to-date
  • $1,155,063Average Assets, quarterly
  • $3,378,984Volatile liabilities
  • $4,005,015Insider loans
  • $3,076,448FHLB advances
  • $3,738,880Loans and leases held for sale
  • $74,997Unused loan commitments
  • $69,807Tier 1 (core) risk-based capital
  • $314,320Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $5,190Total unused commitments
  • $643,718Restructured Loans and leases
  • $34,264Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $139,158Total interest income
  • $31,199Total interest expense
  • $107,959Net interest income
  • $7,563Provision for loan and lease losses
  • $29,694Total noninterest income
  • $4,289Fiduciary activities
  • $8,605Service charges on deposit accounts
  • -$522Trading account gains & fees
  • $17,322Additional noninterest income
  • $104,116Total noninterest expense
  • $42,812Salaries and employee benefits
  • $13,452Premises and equipment expense
  • $47,852Additional noninterest expense
  • $25,974Pre-tax net operating income
  • $14Securities gains (losses)
  • $6,853Applicable income taxes
  • $19,135Income before extraordinary items
  • $0Extraordinary gains - net
  • $19,135Net income attributable to bank
  • $0Net charge-offs
  • $19,135Cash dividends
  • $7,017Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.72%Yield on earning assets
  • 1.06%Cost of funding earning assets
  • 3.66%Net interest margin
  • 1.01%Noninterest income to earning assets
  • 3.53%Noninterest expense to earning assets
  • 0.57%Net operating income to assets
  • 0.57%Return on assets (ROA)
  • 0.77%Pretax return on assets
  • 4.44%Return on equity (ROE)
  • 4.44%Retained earnings to average equity (YTD only)
  • 0.28%Net charge-offs to loans
  • 107.78%Credit loss provision to net charge-offs
  • 4.78%Efficiency ratio
  • 72,972Assets per employee
  • 5.73%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.10%Loss allowance to noncurrent loans
  • 94.26%Noncurrent assets plus other real estate owned to assets
  • 0.92%Noncurrent loans to loans
  • 1.16%Net loans and leases to deposits
  • 92.19%Net loans and leases to core deposits
  • 98.12%Equity capital to assets
  • 13.09%Core capital (leverage) ratio
  • 8.41%Tier 1 risk-based capital ratio
  • 10.22%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $3,378,984Average earning assets
  • $430,503Average equity
  • $2,946,060Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $564,662Managed Assets
  • 1Number of Accounts
  • $481,672Personal trust and agency accounts
  • $179,285Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $66,683Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $188,244Other fiduciary accounts
  • $38,738Fiduciary accounts held in foreign offices
  • $8,722Non-managed Assets
  • 1415Number of Accounts
  • $0Personal trust and agency accounts
  • $63,255Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $82,990Other retirement accounts
  • $227Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $1,670Fiduciary accounts held in foreign offices

List of branches

  • 34 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    016536Berkshire Bank24 North Street, Pittsfield, MA 1201Febuary 06, 1846Full Service Brick and Mortar
    1291400Park Square Branch43 East Street, Pittsfield, MA 1201October 03, 1970Full Service Brick and Mortar
    3291402Elm Street Branch165 Elm Street, Pittsfield, MA 1201July 01, 1977Full Service Brick and Mortar
    4193684Great Barrington Branch225 Stockbridge Road, Great Barrington, MA 1230November 01, 1982Full Service Brick and Mortar
    5193685North Adams Branch37 Main Street, North Adams, MA 1247December 30, 1982Full Service Brick and Mortar
    717795244 Main Street Branch244 Main Street, Great Barrington, MA 1230Febuary 23, 1869Full Service Brick and Mortar
    8291160Sheffield Branch103 Main Street, Sheffield, MA 1257November 21, 1966Full Service Brick and Mortar
    9291161West Stockbridge BranchDepot Street And Richmond Road, West Stockbridge, MA 1266March 10, 1975Full Service Brick and Mortar
    10225603Stockbridge Branch32 Main Street, Stockbridge, MA 1262November 13, 1959Full Service Brick and Mortar
    11225605Lee Branch1 Park Street, Lee, MA 1238June 12, 1972Full Service Brick and Mortar
    15225602Pittsfield-Allendale Branch39 Cheshire Road, Pittsfield, MA 1201September 14, 1956Full Service Brick and Mortar
    16193758Pittsfield Branch66 West Street, Pittsfield, MA 1201October 14, 1988Full Service Brick and Mortar
    1817890Woronoco Bank Branch31 Court Street, Westfield, MA 1085May 05, 1871Full Service Brick and Mortar
    19291546Grist Mill Plaza Branch608 College Highway, Southwick, MA 1077July 14, 1956Full Service Brick and Mortar
    20291547Little River Branch22 Little River Road, Westfield, MA 1085November 17, 1971Full Service Brick and Mortar
    21291548Southwick Branch185 College Highway, Southwick, MA 1077September 11, 1989Full Service Brick and Mortar
    22291550South Hadley Branch74 Lamb Street, Route 116, South Hadley, MA 1075January 11, 1993Full Service Brick and Mortar
    23291551Feeding Hills Branch1359 Springfield Street, Feeding Hills, MA 1030June 19, 1995Full Service Brick and Mortar
    24291555Ludlow Branch431 Center Street, Ludlow, MA 1056Febuary 23, 1998Full Service Brick and Mortar
    25360987East Longmeadow Branch72 Shaker Road, East Longmeadow, MA 1028March 12, 2001Full Service Brick and Mortar
    26423060Chicopee Branch1339 Memorial Drive, Chicopee, MA 1020September 29, 2003Full Service Brick and Mortar
    27432905Longmeadow Branch138 Longmeadow Street, Longmeadow, MA 1106November 08, 2004Full Service Brick and Mortar
    45492907Dalton Branch397 Main Street, Dalton, MA 1226November 03, 2008Full Service Retail
    46500512Woburn Loan Production Office150 Presidential Way, Woburn, MA 1801January 21, 2010Limited Service Loan Production
    47510556Springfield Branch1259 East Columbus Ave, Springfield, MA 1105November 14, 2009Full Service Brick and Mortar
    5617855Legacy Bank Branch99 North Street, Pittsfield, MA 1201April 13, 1893Full Service Brick and Mortar
    57291403Free Standing Building Branch734 William Street, Pittsfield, MA 1201October 23, 1963Full Service Brick and Mortar
    58291404West Housatonic Office Branch480 West Housatonic Street, Pittsfield, MA 1201October 30, 1962Full Service Brick and Mortar
    62193549Otis Branch30 East Otis Road, Otis, MA 1253Febuary 10, 1975Full Service Brick and Mortar
    63193551Night Deposit Facility50 Water Street, Lee, MA 1238July 10, 1997Limited Service Facility
    6417813Lenox Savings Bank Branch25 Main Street, Lenox, MA 1240January 01, 1890Full Service Brick and Mortar
    65291248Pittsfield Road Branch495 Pittsfield Road, Lenox, MA 1240October 15, 1977Full Service Brick and Mortar
    66466492Great Barrington North Branch409 Stockbridge Road, Great Barrington, MA 1230May 12, 2007Full Service Brick and Mortar
    7517801Haydenville BranchBridge And Main Streets, Haydenville, MA 1039January 01, 1869Full Service Brick and Mortar
  • 23 New York Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    17215238Oriskany Falls Branch210-216 Main Street, Oriskany Falls, NY 13425August 15, 1994Full Service Brick and Mortar
    28441408Albany Ny Branch41 State Street, Albany, NY 12207June 27, 2005Full Service Brick and Mortar
    29444590Clifton Park Ny Branch15 Park Avenue, Clifton Park, NY 12065September 07, 2005Full Service Retail
    30451220Delmar Ny Branch180 Delaware Avenue, Delmar, NY 12054May 15, 2006Full Service Brick and Mortar
    31451421East Greenbush Branch602 Columbia Turnpike, East Greenbush, NY 12061May 22, 2006Full Service Brick and Mortar
    32452109Guilderland Ny Branch20 Mall, Guilderland, NY 12084June 19, 2006Full Service Retail
    33458005Halfmoon Crossing Branch7 Halfmoon Circle, Clifton Park, NY 12065January 08, 2007Full Service Brick and Mortar
    34458843Town Center Plaza Branch1704 Western Avenue, Guilderland, NY 12084Febuary 05, 2007Full Service Retail
    35460994Colonie Ny BranchShaker Pine Village, Colonie, NY 12205March 05, 2007Full Service Brick and Mortar
    36462797Glenville Ny Branch262 Saratoga Road, Glenville, NY 12302April 30, 2007Full Service Retail
    37466468Berkshire Municipal Bank Branch41 State Street, Albany, NY 12207January 02, 2007Full Service Retail
    48517234Central Avenue Albany Branch979 Central Avenue, Albany, NY 12205August 16, 2010Full Service Retail
    49517235Latham Ny Branch628 Loudon Road, Latham, NY 12110December 29, 2010Full Service Brick and Mortar
    5010214Rome Savings Branch100 West Dominick Street, Rome, NY 13440June 30, 1851Full Service Brick and Mortar
    51236349Black River Boulevard Branch1629 Black River Boulevard, Rome, NY 13440November 14, 1964Full Service Brick and Mortar
    52236350New Hartford Savings Branch8491 Seneca Turnpike, New Hartford, NY 13413March 31, 1978Full Service Brick and Mortar
    53236351West Rome Branch1300 Erie Boulevard West, Rome, NY 13440January 12, 1996Full Service Brick and Mortar
    54495044Elmer Hill Branch6310 Elmer Hill Road, Rome, NY 13440April 09, 2007Full Service Brick and Mortar
    55521604Rotterdam Branch1925 Curry Road, Rotterdam, NY 12306April 04, 2011Full Service Brick and Mortar
    67237193Whitehall Branch184 Broadway, Whitehall, NY 12887October 01, 1971Full Service Brick and Mortar
    70358660Middleburgh Branch4507 Route 30, Mill Lane, Middleburgh, NY 12122August 23, 1999Full Service Brick and Mortar
    74486613Latham Branch545 Troy-Schenectady Road, Latham, NY 12110January 07, 2009Full Service Brick and Mortar
    76527931Wolf Road Colonie Branch98 Wolf Road, Colonie, NY 12205January 17, 2012Full Service Brick and Mortar
  • 7 Vermont Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    384238Factory Point Main Office4928 Main Street, Manchester Center, VT 5255January 01, 1883Full Service Brick and Mortar
    39209233Dorset Branch23 Church Street, Dorset, VT 5251June 10, 1974Full Service Brick and Mortar
    40209234Richville Road Branch3450 Richville Road, Manchester Center, VT 5255November 20, 1978Full Service Brick and Mortar
    41209235Arlington Branch3816 Vermont Route 7a, Arlington, VT 5250June 15, 1982Full Service Brick and Mortar
    42209236Court Square Branch22 West Street, Rutland, VT 5701July 10, 1995Full Service Brick and Mortar
    43209146Ludlow Branch152 Main Street, Ludlow, VT 5149January 16, 1967Full Service Brick and Mortar
    44276645Rutland-Woodstock Ave Br143 Woodstock Avenue, Rutland, VT 5701March 13, 1936Full Service Retail

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