Banker & Tradesman photo / file

Berkshire Bank has created the role of regional president for each of its markets and promoted eight executives to lead these regions.

“In this role, [the regional presidents] will drive our market positioning, enhance our performance and maintain active community leadership roles,” Berkshire CEO Richard Marotta said in a statement announcing fourth quarter earnings. “Reporting to bank President Sean Gray, they will lead our top priority efforts around our Be FIRST values and commitment to being a 21st century community bank.”

Be FIRST is Berkshire’s corporate and social responsibility initiative, and Marotta said in the statement that the commitment is “at the heart of our efforts to transform our communities and future-proof the company.”

The executives promoted to regional president include Malia Lazu, who joined Berkshire in 2019 as executive vice president and chief experience and culture officer. She will lead Berkshire’s eastern Massachusetts market.

Paul Kelly, who joined the bank in 2017 as regional president for Boston and Worcester, will lead the central Massachusetts market. James Hickson will be regional president of the Pioneer Valley and Connecticut market, and David Matthew Emprimo will lead Berkshire County and Vermont.

Cristina Feden, who joined Berkshire as part of the acquisition of Savings Institute Bank & Trust, will lead the eastern Connecticut and Rhode Island markets.

The other regional presidents are Christopher Papayanakos, who will lead central New York; James Morris, regional president for the Albany/Capitol region; and Jeannine Cimino, head of the Mid-Atlantic market.

Berkshire reported fourth quarter net earnings of $0.51 per diluted share compared to $0.44 in the third quarter 2019 and $0.31 at the end of 2018. Berkshire acquired Connecticut-based Savings Institute in May 2019. Net income for the fourth quarter was $25.8 million, up from $22.6 million in the third quarter, when the bank took a loss on a defaulted loan.

“Berkshire’s fourth quarter profitability measures were the best of the year,” Marotta said in the statement. “We completed the systems integration of acquired operations, further trimmed non-strategic assets, and reduced higher cost wholesale funds. Measures of liquidity, capital, and asset quality improved quarter-over quarter. Additional capital was returned to shareholders through stock repurchases and we are now announcing a 4 percent dividend increase beginning in 2020. Our shares produced a 26 percent total shareholder return for the year, based on the year-end stock price.”