Berkshire Bank Buys Mortgage Corporation

03:50PM / Wednesday May 02, 2012

PITTSFIELD, Mass. — Berkshire Bank on Tuesday said it had completed the acquisition of the business model, expertise and certain other assets of Greenpark Mortgage Corp. of Needham.

As the part of this transaction, Berkshire will maintain Greenpark's entire mortgage lending team in Needham along with its two founders, Paul Gershkowitz and Patty O'Meara, who will continue to provide leadership as first vice presidents of Berkshire Bank.

Michael P. Daly, Berkshire's president and chief executive officer stated,

"We are so pleased to bring the well-regarded Greenpark team into the Berkshire Bank family," said Berkshire President and CEO Michael P. Daly. "This partnership enhances our residential lending capabilities and our efforts to expand our reach into eastern Massachusetts. We look forward to carrying on the solid practices, processes and customer service of Greenpark Mortgage, which have made them so successful and which complement well our culture of community mortgage lending."

Greenpark will operate as the Greenpark Mortgage Division of Berkshire Bank and will continue to serve as the home mortgage company of the Massachusetts Teachers Association. Greenpark was established in 2001 in Needham and now also operates offices in Quincy, Cambridge, Methuen, Tewksbury, Andover and Westborough. Its mortgage professionals are licensed in the New England states and Mississippi.

This is the latest acquisition of Berkshire Hills Bancorp., which added Rome Savings Bank of New York and Legacy Banks last year and Connecticut Bank & Trust last month. Berkshire Bank is the largest financial institution in Berkshire County.

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