Berkshire the Latest Bank to Suffer Deposit Hit in Q1
Berkshire Bank saw deposits drop by 2.5 percent during the first quarter, but some of those lost deposits moved to money market products in the bank’s wealth management division.
Rosengren Joins Berkshire Bank Board
Eric Rosengren, the former president and CEO of the Federal Reserve Bank of Boston, has joined Berkshire Bank’s board of directors.
Karyn Polito Joins Berkshire Bank’s Board
Berkshire Bank’s parent company has appointed former Lt. Gov. Karyn Polito to its board of directors.
Berkshire Bank Expects Loan Growth in 2023
Berkshire Bank expects to see double digit loan growth despite economic uncertainties in the year ahead.
Berkshire Bank Names Rosato as Chief Financial Officer
Boston-based Berkshire Bank has hired David Rosato, previously with People’s United Bank, as its next chief financial officer.
Berkshire Bank Increases Quarterly Dividend
Berkshire Bank’s parent company has increased its quarterly dividend for the first time since cutting it in half more than two years ago.
Berkshire Bank’s Chief Financial Officer Resigns
Berkshire Bank’s chief financial officer, Subhadeep Basu, has resigned “for personal reasons” effective last week, about 18 months after joining the bank.
Stephenson to Leave Berkshire Bank, Replacement Named
Berkshire Bank’s chief compliance officer plans to leave the bank at the end of the month, and her replacement will come from within the bank.
Berkshire Bank to End Two Specialty Lending Programs
Berkshire Bank plans to stop originating loans through its Needham-based specialty lender while also pausing lending through a financial technology partnership the bank established last year.
Berkshire Bank Issues $100M Sustainability Bond
Berkshire Bank’s parent company has issued its first sustainability bond as part of an environmental, social and governance initiative.
Berkshire to Update Growth Strategy in Response to Changing Environment
The effects of geopolitical events and the changing rate environment will result in some changes to the goals Berkshire Bank set last year for turning around the bank’s performance.
Berkshire Bank Ends 2021 With $118M in Earnings
After ending 2020 with more than $500 million in losses, Boston-based Berkshire Bank finished 2021 with $118 million in earnings and approved a share repurchase program that the bank said would return a significant amount of excess capital to shareholders.
Berkshire Bank Launches ESG Investment Product
Berkshire Bank’s wealth management division has launched new socially responsible investment portfolios that the bank said would strengthen its commitment to environmental, social and governance factors.
Berkshire Bank Names Nina Charnley to Board
Berkshire Bank has named former TIAA and Bank of America executive Nina Charnley to its board of directors.
Berkshire Bank in $5B, Three-Year ESG Commitment
Boston-based Berkshire Bank has committed $5 billion toward community and environmental financing and investments as part of a three-year initiative that the bank said would help strengthen local communities.
Berkshire Bank Completes Sale of NJ, PA Branches
Berkshire Bank has completed the sale of its eight New Jersey and Eastern Pennsylvania branches to Investors Bank.
Berkshire Bank Sells Insurance Group, Changes Board Leadership
Changes continue at Berkshire Bank as the Boston-based bank gets new board leadership and plans to sell its insurance subsidiary.
Berkshire Bank’s Run of Positive Earnings Continue, More Branch Closures Planned
A year after a multimillion-dollar goodwill impairment charge marked a period of turmoil at Berkshire Bank, the Boston-based bank had another quarter with positive earnings, as executives remain optimistic that a new plan to transform the bank will lead to growth.
Gunsch to Leave Berkshire Bank, Two Successors Will Lead Consumer Bank
Berkshire Bank’s head of consumer banking, Tami Gunsch, is stepping down at the end of June, and the bank plans to name two people to take over her role.
Berkshire Bank Continues To See Positive Earnings
Berkshire Bank continued to see positive earnings in the first quarter after experiencing losses in the first half of 2020.
