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State Treasurer Visiting Berkshires
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Grossman will be in Pittsfield in the morning to highlight his Small Businss Banking Partnership. According to Grossman's office, the partnership directs deposits usually held by large institutions into state community banks with the understaninding they would increase their lending to small businesses.
He will meet with banking officials and elected officials at Berkshire Bank and then tour Starbase Technologies, which received a partnership loan.
In the afternoon, he will visit the new Luma's Muffin and Mug on Main Street in North Adams. Luma's is also a recipient of a partnership loan.
NBT Bank Celebrates Opening of Lenox Office
 Cutting the ribbon at the March 7 grand opening celebration NBT Bank Area Manager Daniel Kinney, left, Lenox Chamber of Commerce Director Ralph Petillo, Lenox Selectwoman Linda Procopio Messana, Lenox Branch Manager John Bortolotto and Miss Hall's School Chief Financial Office Susan Baumgarten. |
LENOX, Mass. — NBT Bank officials and area dignitaries celebrated the opening in Lenox on Wednesday of the bank's fifth Berkshire County office.
The NBT Bank of Lenox, located at 2 Holmes Road, officially opened Feb. 7 and features a full service drive-up lane, night depository facilities, coin counting machine and a 24-hour ATM.
"We are pleased to announce the opening of our new Lenox Office that provides us with another opportunity to offer residents and businesses convenient access to our unique brand of community banking," NBT Bank Vice President and Area Manager Daniel Kinney said. "The opening of this office symbolizes NBT Bank's commitment to the local community and the Berkshire region."
NBT took over the former Legacy branches in the county after that finanical institution merged with Berkshire Bank.
NBT Bank offers personal banking, asset management and business services through a network of 132 banking locations in four states. NBT Bank and its parent company, NBT Bancorp Inc., are headquartered in Norwich, N.Y. NBT Bancorp Inc. had assets of $5.6 billion as of Dec. 31, 2011, and is traded on the NASDAQ Global Select Market under the symbol NBTB.
North Berkshire Banks Reopen Under New Name
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ADAMS, Mass. — The new Adams Community Bank opened its doors on Monday. Customers of what had been Adams Co-Operative Bank and South Adams Savings Bank may haven noticed the new signs for the merged institutions installed on Saturday at its local branches. Behind the scenes, new data systems and servers were being upgraded and converted.
Customers logging in can keep their old passwords but will have to chose new security questions and a new security image.
Bank officials said the institution was communicating with customers and using local vendors whenever possible during the merger as part of its committment to the area.
The new name was developed through customer surveys and the signage manufactured and installed by a Berkshires company, said CEO Charles O'Brien. Bank President Joseph Truskowski said customers and community will always come first. "We are pleased to say that our merger won't change this philosophy — customers will continue to see the same faces, same places and only a new name."
To celebrate the merger, Adams Community Bank will be holding a daily drawing each business day for a month to give away new logo merchandise including coolers, stadium chairs, picnic blankets and auto kits. No purchase is necessary to participate in this drawing; just fill out a form and drop it in a ballot box at your local branch.
Adams Community Bank consists of seven full-service offices located in Adams, Cheshire, Lanesborough, Lee, Williamstown and North Adams.
Insurance Agencies Join Forces at MountainOne
PITTSFIELD, Mass. — A local insurance company is going to become part of MountainOne Financial Partners.Stevenson & Co. has joined forces with Coakley, Pierpan, Dolan and Collins, according CPDC President and CEO Timothy Dolan. CPDC is already a MountainOne Financial Partner.
The two agencies will share common expenses and systems as a way to trim costs.
"This means we'll have more funds available to spend on service and product upgrades that benefit customers," said Dolan.
John Murphy, Stevenson's president and CEO, said the move will allow his firm to remain local and independent. "Joining forces with CPDC allows us to do this. And, we'll have an expanded team of service providers and offerings," he said.
Stevenson & Co. is currently located on North Street. CPDC also shares North Street office space with its fellow MountainOne Financial Partners Hoosac Bank and True North. Once the new MountainOne Financial Center under construction in the William Stanley Business Park opens, both CPDC and Stevenson will move into the new building and close their North Street offices. Stevenson customers will be notified in advance of the move.
Stevenson & Co. has been providing personal and business insurance in Pittsfield and Berkshire County since 1867. CPDC, founded in 1927, serves personal and business customers through offices in North Adams, Adams, Williamstown and Pittsfield.
MountainOne Financial Partners, a mutual holding company headquartered in North Adams, has combined assets of over $800 million and more than 200 employees.
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Adams Co-Op, South Adams Bank Merger Approved
The Federal Deposit Insurance Fund and the state Division of Banks and Depositor's Insurance Fund gave the banks notification of the approval on Dec. 9. The new Adams Community Bank will be a $400 million entity of two of the county's oldest community banks.
The merging was announced in September.
"This is an early Christmas present for both banks," said Joseph Truskowski Jr., president and CEO of Adams Co-Operative Bank, in a statement. "We anticipated receiving the news but not all final approvals until after the holidays."
The merger is expected to be completed in early 2012. Adams Community Bank will now consist of seven full-service offices spanning across the county and no jobs are expected to be eliminated, according to banking officials. The boards of trustees for each bank will create one 20-person managing board for the new bank.
"We will now dedicate our full attention to developing our products and signage for Adams Community Bank so it’s a seamless transition for our customers," Charles P. O'Brien, president and CEO of South Adams Savings Bank, said in the state. "Since voting on the new name of the institution in October, we have been developing the brand elements - particularly the Adams Community Bank's logo."
Adams Co-Operative Bank, a state-chartered co-operative bank founded in 1895, has $196 million in assets and three offices. South Adams Savings Bank, founded in 1869, has $197 million in assets and four offices. Together the banks employ about 90 people.
