Berkshire Bank is headquartered in Pittsfield and is the 3rd largest bank in the state of Massachusetts. It is also the 147th largest bank in the nation. It was established in 1846 and as of March of 2016, it had grown to 1,143 employees at 97 locations. Berkshire Bank has an A+ health rating.
I tried this bank briefly as it was convenient to my hometown and allowed me to start a savings account for while I was working around my hometown. The fees are minimal, which is good, but I found the services lacking and the amount of financial information to be severely lacking. They have no consultation services and no workshops to help new bank patrons make smart decisions about their money. I also find their dividend payouts to be minimal compared to the competition, and their debit card fees and international fees to be somewhat exorbitant, which I guess makes sense for a small county bank. All the same, I did not find enough reasons to hold an account with this bank and fled to a competitor.
|FDIC Certificate #||23621|
|Return on Assets - YTD||0.82%|
|Return on Equity - YTD||7.25%|
|Annual Interest Income||$67.9MM|
|Assets and Liabilities|
|Assets||Q1 2016vs Q1 2015||$7.78B$6.55B|
|Loans||Q1 2016vs Q1 2015||$5.70B$4.72B|
|Deposits||Q1 2016vs Q1 2015||$5.65B$4.76B|
|Equity Capital||Q1 2016vs Q1 2015||$892.6MM$715.6MM|
|Loan Loss Allowance||Q1 2016vs Q1 2015||$40.1MM$36.3MM|
|Unbacked Noncurrent Loans||Q1 2016vs Q1 2015||$23.5MM$27.9MM|
|Real Estate Owned||Q1 2016vs Q1 2015||$2.0MM$2.7MM|
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