Berkshire Bank
Berkshire Bank is headquartered in Pittsfield and is the 3rd largest bank in the state of Massachusetts. It is also the 131st largest bank in the nation. It was established in 1846 and as of March of 2017, it had grown to 1,665 employees at 99 locations. Berkshire Bank has an A+ health rating.
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Not The Best Option
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.
Behind The Times
You cannot add your checking account to their website so that you can make payments. I have never heard of this. National Grid, National Fuel, Internet & Cable providers all have the capabilities of allowing you to add your checking account to their website to pay your bill. The only way to pay a Berkshire loan is mail a check or Bill Pay on you personal bank's website. Now that takes 2 days to get to Bekshire & you might get charged a late fee if it doesn't reach them. Even though you may have sent the Bill Pay on the last day of it not being late
Data as of Q1 2017
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 23621 |
| Year Established | 1846 |
| Employees | 1665 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.62% |
| Return on Equity - YTD | 5.31% |
| Annual Interest Income | $80.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2017vs Q1 2016 | $9.26B$7.78B |
| Loans | Q1 2017vs Q1 2016 | $6.70B$5.70B |
| Deposits | Q1 2017vs Q1 2016 | $6.70B$5.65B |
| Equity Capital | Q1 2017vs Q1 2016 | $1.07B$892.6MM |
| Loan Loss Allowance | Q1 2017vs Q1 2016 | $45.8MM$40.1MM |
| Unbacked Noncurrent Loans | Q1 2017vs Q1 2016 | $34.5MM$23.5MM |
| Real Estate Owned | Q1 2017vs Q1 2016 | $393.00K$2.0MM |
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Berkshire Bank has 93 locations. Click to view all Berkshire Bank locations.