Berkshire Bank Mortgage Rates, Fees & Info

Pittsfield, MA

LEI: 549300LR1ZETOWYE9Z89

Tax ID: 04-3312097

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Berkshire Bank is a smaller bank specializing in Refi and Home Purchase loans. Berkshire Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Providence, Boston, Springfield, Hartford, and Albany among others. We have data for 36 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Berkshire Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Berkshire Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 12/16/24
    30 Year Conventional Purchase 5.89% 12/16/24
    30 Year Conventional Refi 5.94% 12/16/24
    30 Year Cash-out Refi 6.24% 12/16/24
    30 Year FHA Purchase 7.07% 12/16/24
    30 Year FHA Refi 6.90% 12/16/24
    30 Year VA Purchase 6.73% 12/16/24
    15 Year Conventional Purchase 5.93% 12/16/24
    15 Year Conventional Refi 6.12% 12/16/24
    15 Year Cash-out Refi 6.12% 12/16/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Berkshire Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Berkshire Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    1,364

    Origination Dollar Volume (All Markets)

    $332,880,000

    Employee count

    1,853

    Awards

    Berkshire Bank 30 Year Conventional Loans silver Berkshire Bank 30 Year Conventional Loans bronze Berkshire Bank 30 Year Conventional Loans bronze Berkshire Bank 30 Year Conventional Loans bronze
    Show all (4) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 5 $50,255,000 $10,051,000 $3,276 4.82%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 152 $36,400,000 $239,474 $2,228 4.53%
    SPRINGFIELD, MA (FHA|USDA|VA) 263 $33,995,000 $129,259 $2,090 4.52%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 35 $33,255,000 $950,143 $1,178 4.56%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 102 $32,950,000 $323,039 $3,812 4.60%
    PITTSFIELD, MA (FHA|USDA|VA) 201 $32,755,000 $162,960 $1,922 4.57%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 85 $25,485,000 $299,824 $6,326 4.58%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 4 $14,650,000 $3,662,500 $0 5.32%
    WORCESTER, MA-CT (FHA|USDA|VA) 71 $11,535,000 $162,465 $1,877 4.59%
    UTICA-ROME, NY (FHA|USDA|VA) 134 $10,760,000 $80,299 $1,570 4.71%
    SYRACUSE, NY (FHA|USDA|VA) 100 $7,400,000 $74,000 $681 4.59%
    GLENS FALLS, NY (FHA|USDA|VA) 21 $7,105,000 $338,333 $809 4.75%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 23 $5,655,000 $245,870 $11 4.79%
    Hudson, NY (FHA|USDA|VA) 23 $5,415,000 $235,435 $4,715 4.42%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 26 $5,170,000 $198,846 $1,606 4.87%
    Bennington, VT (FHA|USDA|VA) 23 $3,935,000 $171,087 $2,060 4.50%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 8 $2,480,000 $310,000 $3,408 4.30%
    Lebanon, NH-VT (FHA|USDA|VA) 14 $2,440,000 $174,286 $0 4.36%
    Outside of Metro Areas 11 $2,265,000 $205,909 $4,633 4.39%
    Rutland, VT (FHA|USDA|VA) 18 $1,910,000 $106,111 $738 4.67%
    Vineyard Haven, MA (FHA|USDA|VA) 2 $1,220,000 $610,000 $5,977 3.88%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 4 $990,000 $247,500 $5,691 5.53%
    Amsterdam, NY (FHA|USDA|VA) 8 $950,000 $118,750 $1,586 4.54%
    Gloversville, NY (FHA|USDA|VA) 10 $740,000 $74,000 $1,107 4.47%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 2 $570,000 $285,000 $6,528 4.50%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 4 $530,000 $132,500 $1,812 4.40%
    Torrington, CT (FHA|USDA|VA) 2 $440,000 $220,000 $3,780 4.31%
    ROCHESTER, NY (FHA|USDA|VA) 4 $350,000 $87,500 $0 4.44%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $305,000 $305,000 $3,797 4.63%
    Barre, VT (FHA|USDA|VA) 1 $205,000 $205,000 $0 4.25%
    BINGHAMTON, NY (FHA|USDA|VA) 1 $185,000 $185,000 $6,993 5.50%
    Oneonta, NY (FHA|USDA|VA) 2 $170,000 $85,000 $0 4.43%
    Laconia, NH (FHA|USDA|VA) 1 $145,000 $145,000 $5,308 4.63%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $135,000 $135,000 $3,289 4.63%
    ELMIRA, NY (FHA|USDA|VA) 1 $105,000 $105,000 $3,365 4.63%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.00%
    Berkshire Bank's top markets include Providence, Boston, Springfield, Hartford, and Albany among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Berkshire Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Westport Federal Credit Union
    Similarity Rank: 23
    Adams Community Bank
    Similarity Rank: 36
    Notre Dame Community Federal Credit Union
    Similarity Rank: 38
    GREYLOCK
    Similarity Rank: 42
    SECNY Federal Credit Union
    Similarity Rank: 44
    N C P D Federal Credit Union
    Similarity Rank: 55
    Geddes Federal Savings and Loan Association
    Similarity Rank: 60
    PAWTUCKET
    Similarity Rank: 60
    Bogota Savings Bank
    Similarity Rank: 63
    Bank of Easton
    Similarity Rank: 66

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 698 $252,530,000 $361,791 $2,022 4.71%
    HELOC 616 $70,140,000 $113,864 n/a 4.45%
    FHA 43 $8,335,000 $193,837 $7,589 4.51%
    VA 7 $1,875,000 $267,857 $6,780 4.41%

    For 2018, Berkshire Bank's most frequently originated type of loan was Conventional, with 698 originations. Their 2nd most popular type was HELOC, with 616 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 399 $130,985,000 $328,283 $613 4.58%
    Home Purchase 383 $142,945,000 $373,225 $4,286 4.57%
    Home Improvement 376 $29,780,000 $79,202 $110 4.63%
    Other 159 $15,955,000 $100,346 $396 4.55%
    Cash Out Refi 47 $13,215,000 $281,170 $4,265 4.51%

    For 2018, Berkshire Bank's most frequently cited loan purpose was Refi, with 399 originations. The 2nd most popular reason was Home Purchase, with 383 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 726 $82,750,000 $113,981 $471 4.56%
    30 Year 345 $92,745,000 $268,826 $4,452 4.53%
    10 Year 132 $34,840,000 $263,939 $62 4.73%
    15 Year 103 $54,445,000 $528,592 $988 4.69%
    5 Year 48 $3,630,000 $75,625 $6 4.52%
    Other 7 $44,345,000 $6,335,000 $0 5.21%
    3 Year 3 $20,125,000 $6,708,333 $0 5.09%

    For 2018, Berkshire Bank's most frequently cited loan duration was 20 Year, with 726 originations. The 2nd most popular length was 30 Year, with 345 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 551 $87,915,000 $159,555
    $1k-2k 98 $20,730,000 $211,531
    $2k-3k 21 $6,745,000 $321,190
    $3k-4k 12 $4,100,000 $341,667
    $5k+ 11 $6,335,000 $575,909
    $4k-5k 4 $1,530,000 $382,500

    Berkshire Bank's average total fees were $4,452, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 551 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 985 $185,785,000 $188,614
    3-4% 197 $92,435,000 $469,213
    5-6% 165 $44,815,000 $271,606
    6-7% 15 $4,455,000 $297,000
    2.5-3% 1 $1,485,000 $1,485,000
    % 1 $3,905,000 $3,905,000

    During 2018, Berkshire Bank's average interest rate for loans was 4.53%, while their most frequently originated rate bucket for loans was 4-5%, with 985 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 656 $34,010,000 $51,845 $379 4.66%
    $100k-200k 359 $50,165,000 $139,735 $2,623 4.54%
    $200k-400k 243 $66,475,000 $273,560 $4,334 4.53%
    $400k-600k 72 $33,840,000 $470,000 $5,346 4.31%
    $1MM+ 17 $135,475,000 $7,969,118 $10,985 4.74%
    $600k-1MM 17 $12,915,000 $759,706 $5,422 4.27%

    2018 saw Berkshire Bank place emphasis on $100,000 or less loans with 656 originations, totaling $34,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 248 $36,520,000 $147,258 $2,675 4.65%
    $50k-75k 231 $24,405,000 $105,649 $2,191 4.59%
    $50k or less 229 $21,395,000 $93,428 $2,077 4.53%
    $75k-100k 203 $26,815,000 $132,094 $2,297 4.62%
    $150k-250k 184 $37,360,000 $203,043 $3,065 4.62%
    $250k+ 108 $37,830,000 $350,278 $3,687 4.45%

    Berkshire Bank lent most frequently to those with incomes in the $100k-150k range, with 248 originations. The second most popular income band? $50k-75k, with 231 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 281 $36,465,000 $129,769 $1,700 4.59%
    30-36% 241 $34,565,000 $143,423 $2,222 4.58%
    <20% 111 $15,055,000 $135,631 $1,753 4.47%
    41% 61 $10,555,000 $173,033 $2,445 4.67%
    40% 57 $7,965,000 $139,737 $2,241 4.51%
    39% 55 $8,885,000 $161,545 $2,212 4.60%
    36% 51 $6,735,000 $132,059 $1,990 4.80%
    37% 45 $8,525,000 $189,444 $3,000 4.57%
    42% 44 $9,450,000 $214,773 $3,164 4.53%
    45% 44 $7,380,000 $167,727 $3,429 4.67%
    44% 40 $5,750,000 $143,750 $2,637 4.69%
    38% 39 $7,815,000 $200,385 $2,597 4.68%
    49% 38 $6,920,000 $182,105 $3,684 4.73%
    43% 33 $6,755,000 $204,697 $4,162 4.69%
    48% 28 $4,120,000 $147,143 $3,168 4.51%
    50-60% 27 $4,755,000 $176,111 $6,650 4.58%
    47% 23 $3,805,000 $165,435 $3,016 4.54%
    46% 18 $2,490,000 $138,333 $3,399 4.53%
    >60% 2 $190,000 $95,000 $75 4.50%

    Berkshire Bank lent most frequently to those with DTI ratios of 20-30%, with 281 originations. The next most common DTI ratio? 30-36%, with 241 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,144 $165,650,000 $144,799 $2,206 4.59%
    Not applicable 75 $138,825,000 $1,851,000 $13 4.52%
    Not provided 65 $15,485,000 $238,231 $4,747 4.57%
    Asian 48 $8,730,000 $181,875 $2,738 4.45%
    Black 26 $3,660,000 $140,769 $4,213 4.69%
    American Indian 3 $345,000 $115,000 $1,878 4.28%
    Native Hawaiian or Islander 1 $75,000 $75,000 $2,368 4.13%
    Other Pacific Islander 1 $55,000 $55,000 $0 4.75%
    Other Asian 1 $55,000 $55,000 $0 4.50%

    Approval Rates

    Total approvals of all applications
    84.06%

    Berkshire Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    81.45%

    Berkshire Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,364 $332,880,000 $244,047

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 17 $131,605,000 $7,741,471
    Single Family (1-4 Units):Site-Built 1,347 $201,275,000 $149,425

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 334 $36,090,000 $108,054 $393 4.56%
    40-60% 158 $76,250,000 $482,595 $1,719 4.53%
    60-80% 263 $139,215,000 $529,335 $3,259 4.66%
    80-100% 252 $59,850,000 $237,500 $4,078 4.49%
    Over 100% 1 $255,000 $255,000 $9,265 4.50%
    Under 20% 353 $20,985,000 $59,448 $27 4.63%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    BROKER SOLUTIONS, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 5.6%
    BROKER SOLUTIONS, INC. Conventional home mortgage Closing on a mortgage 1 2.8%
    BROKER SOLUTIONS, INC. Conventional home mortgage Struggling to pay mortgage 1 2.8%
    BROKER SOLUTIONS, INC. Conventional home mortgage Trouble during payment process 10 27.8%
    BROKER SOLUTIONS, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 4 11.1%
    BROKER SOLUTIONS, INC. FHA mortgage Closing on a mortgage 2 5.6%
    BROKER SOLUTIONS, INC. FHA mortgage Struggling to pay mortgage 3 8.3%
    BROKER SOLUTIONS, INC. FHA mortgage Trouble during payment process 5 13.9%
    BROKER SOLUTIONS, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.8%
    BROKER SOLUTIONS, INC. Reverse mortgage Closing on a mortgage 1 2.8%
    BROKER SOLUTIONS, INC. VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.8%
    BROKER SOLUTIONS, INC. VA mortgage Closing on a mortgage 1 2.8%
    BROKER SOLUTIONS, INC. VA mortgage Struggling to pay mortgage 2 5.6%
    BROKER SOLUTIONS, INC. VA mortgage Trouble during payment process 2 5.6%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Berkshire Bank 1 Central Plaza Ilion, NY 13357 Full Service B&M $39,581
    Berkshire Bank 1 Park Street Lee, MA 1238 Full Service B&M $51,179
    Berkshire Bank 100 Gibraltar Road Horsham, PA 19044 Full Service B&M $41,291
    Berkshire Bank 100 West Dominick Street Rome, NY 13440 Full Service B&M $160,568
    Berkshire Bank 103 Main Street Sheffield, MA 1257 Full Service B&M $57,560
    Berkshire Bank 1057 Main Street Holden, MA 1520 Full Service B&M $69,760
    Berkshire Bank 11 Park Avenue Worcester, MA 1605 Full Service B&M $84,551
    Berkshire Bank 11 Vista Boulevard Slingerlands, NY 12159 Full Service B&M $18,517
    Berkshire Bank 1100 Mohawk Street Utica, NY 13501 Full Service B&M $37,414
    Berkshire Bank 114 Woodland St Hartford, CT 6105 Full Service Retail $2,469
    Berkshire Bank 116 Chelmsford Street Chelmsford, MA 1824 Full Service B&M $27,686
    Berkshire Bank 1202 Troy-Schenectady Road Latham, NY 12110 Full Service B&M $27,527
    Berkshire Bank 121 Congress Street Boston, MA 2110 Full Service Retail $426,938
    Berkshire Bank 1259 East Columbus Ave Springfield, MA 1105 Full Service B&M $200,982
    Berkshire Bank 1300 Erie Boulevard West Rome, NY 13440 Full Service B&M $32,697
    Berkshire Bank 1320 Washington Street Boston, MA 2118 Full Service B&M $33,780
    Berkshire Bank 1339 Memorial Drive Chicopee, MA 1020 Full Service B&M $26,086
    Berkshire Bank 1359 Springfield Street Feeding Hills, MA 1030 Full Service B&M $43,496
    Berkshire Bank 1363 Allen Street Springfield, MA 1118 Full Service B&M $62,283
    Berkshire Bank 138 Longmeadow Street Longmeadow, MA 1106 Full Service B&M $100,939
    Berkshire Bank 140 Sanford Farms Plaza Amsterdam, NY 12010 Full Service B&M $39,952
    Berkshire Bank 148 Broad Street Windsor, CT 6095 Full Service B&M $27,571
    Berkshire Bank 152 Main Street Ludlow, VT 5149 Full Service B&M $49,095
    Berkshire Bank 16 Albany Turnpike Simsbury, CT 6070 Full Service B&M $9,773
    Berkshire Bank 1629 Black River Boulevard Rome, NY 13440 Full Service B&M $111,727
    Berkshire Bank 165 Elm Street Pittsfield, MA 1201 Full Service B&M $106,254
    Berkshire Bank 1704 Western Avenue Guilderland, NY 12084 Full Service Retail $42,423
    Berkshire Bank 18 Princeton Hightstown Road East Windsor, NJ 8520 Full Service B&M $121,675
    Berkshire Bank 183 Quaker Road Glens Falls, NY 12804 Full Service B&M $60,078
    Berkshire Bank 184 Broadway Whitehall, NY 12887 Full Service B&M $29,130
    Berkshire Bank 187 Main Street Indian Orchard, MA 1151 Full Service Retail $9,525
    Berkshire Bank 19 Harrison Avenue Springfield, MA 1101 Full Service B&M $105,935
    Berkshire Bank 1925 Curry Road Rotterdam, NY 12306 Full Service B&M $29,021
    Berkshire Bank 2 Depot Street West Stockbridge, MA 1266 Full Service B&M $41,318
    Berkshire Bank 2005 Boston Road Wilbraham, MA 1095 Full Service B&M $37,010
    Berkshire Bank 210-216 Main Street Oriskany Falls, NY 13425 Full Service B&M $19,908
    Berkshire Bank 22 Little River Road Westfield, MA 1085 Full Service B&M $45,673
    Berkshire Bank 22 West Street Rutland, VT 5701 Full Service B&M $112,961
    Berkshire Bank 220 Westfield Street West Springfield, MA 1089 Full Service B&M $48,298
    Berkshire Bank 225 Stockbridge Road Great Barrington, MA 1230 Full Service B&M $40,399
    Berkshire Bank 226 Boston Turnpike Shrewsbury, MA 1545 Full Service B&M $101,652
    Berkshire Bank 23 Church Street Dorset, VT 5251 Full Service B&M $23,337
    Berkshire Bank 2344 Route 33 Robbinsville, NJ 8691 Full Service B&M $112,674
    Berkshire Bank 24 North Street Pittsfield, MA 1201 Full Service B&M $0
    Berkshire Bank 244 Main Street Great Barrington, MA 1230 Full Service B&M $271,554
    Berkshire Bank 25 Main Street Lenox, MA 1240 Full Service B&M $116,168
    Berkshire Bank 25 Worcester Road Webster, MA 1570 Full Service B&M $101,720
    Berkshire Bank 2532 Route 9 Malta, NY 12020 Full Service B&M $0
    Berkshire Bank 255 Delaware Avenue Delmar, NY 12054 Full Service B&M $62,952
    Berkshire Bank 262 Saratoga Road Glenville, NY 12302 Full Service Retail $31,452
    Berkshire Bank 30 East Otis Road Otis, MA 1253 Full Service B&M $22,725
    Berkshire Bank 30 South Pearl Street Albany, NY 12207 Full Service B&M $80,076
    Berkshire Bank 3025 Route 50 Wilton, NY 12831 Full Service B&M $17,483
    Berkshire Bank 303 Turnpike Road (Route 9) Westborough, MA 1581 Full Service B&M $71,043
    Berkshire Bank 31 Court Street Westfield, MA 1085 Full Service B&M $201,352
    Berkshire Bank 32 Main Street Stockbridge, MA 1262 Full Service B&M $43,007
    Berkshire Bank 320 West Boylston Street West Boylston, MA 1583 Full Service B&M $53,622
    Berkshire Bank 322 Maple Street Marlborough, MA 1752 Full Service B&M $39,526
    Berkshire Bank 34 Oriskany Boulevard Whitesboro, NY 13492 Full Service B&M $42,397
    Berkshire Bank 3450 Richville Road Manchester Center, VT 5255 Full Service B&M $69,733
    Berkshire Bank 37 Main Street North Adams, MA 1247 Full Service B&M $51,503
    Berkshire Bank 3816 Vermont Route 7a Arlington, VT 5250 Full Service B&M $18,750
    Berkshire Bank 386 Main Street Worcester, MA 1608 Full Service B&M $751,146
    Berkshire Bank 39 Cheshire Road Pittsfield, MA 1201 Full Service B&M $104,515
    Berkshire Bank 396 Cromwell Ave Rocky Hill, CT 6067 Full Service B&M $46,317
    Berkshire Bank 628 Loudon Road Latham, NY 12110 Full Service B&M $55,005
    Berkshire Bank 399 Albany Shaker Road Loudonville, NY 12211 Full Service B&M $20,012
    Berkshire Bank 404 Main Street Worcester, MA 1608 Limited, Drive-thru $0
    Berkshire Bank 423 Washington Street Brighton, MA 2135 Full Service B&M $50,583
    Berkshire Bank 431 Center Street Ludlow, MA 1056 Full Service B&M $41,941
    Berkshire Bank 435 Hartford Turnpike Vernon, CT 6066 Full Service B&M $23,558
    Berkshire Bank 4422 Route 27, Building B Kingston, NJ 8528 Full Service B&M $17,209
    Berkshire Bank 451 Lincoln Street Worcester, MA 1605 Full Service B&M $13,036
    Berkshire Bank 480 West Housatonic Street Pittsfield, MA 1201 Full Service B&M $15,912
    Berkshire Bank 488 Columbia Pike New Lebanon, NY 12125 Full Service B&M $27,996
    Berkshire Bank 488 Main Street Dalton, MA 1226 Full Service Retail $27,361
    Berkshire Bank 4912 Main Street Manchester Center, VT 5255 Full Service B&M $67,869
    Berkshire Bank 495 Pittsfield Road Lenox, MA 1240 Full Service B&M $31,539
    Berkshire Bank 5 East Main Westborough, MA 1581 Full Service B&M $62,421
    Berkshire Bank 50 Auert Avenue Utica, NY 13502 Full Service B&M $30,109
    Berkshire Bank 50 Genesee Street New Hartford, NY 13413 Full Service B&M $57,649
    Berkshire Bank 50-52 Main Street Chatham, NY 12037 Full Service B&M $31,593
    Berkshire Bank 51 West Main Street Johnstown, NY 12095 Full Service B&M $27,161
    Berkshire Bank 537 Route 130 Hamilton, NJ 8691 Full Service B&M $112,134
    Berkshire Bank 560 Park Avenue Worcester, MA 1603 Full Service B&M $68,997
    Berkshire Bank 561 Warren Street Hudson, NY 12534 Full Service B&M $34,808
    Berkshire Bank 565 Main Street Leominster, MA 1453 Full Service B&M $46,910
    Berkshire Bank 576 North Greenbush Road Rensselaer, NY 12144 Full Service B&M $28,258
    Berkshire Bank 602 Columbia Turnpike East Greenbush, NY 12061 Full Service B&M $33,330
    Berkshire Bank 608 College Highway Southwick, MA 1077 Full Service B&M $86,945
    Berkshire Bank 61-65 Brookline Avenue Boston, MA 2215 Full Service B&M $77,089
    Berkshire Bank 66 Cedar Street Newington, CT 6111 Full Service B&M $30,233
    Berkshire Bank 66 West Street Pittsfield, MA 1201 Full Service B&M $133,209
    Berkshire Bank 6611 Manlius Center Road East Syracuse, NY 13057 Full Service B&M $165,728
    Berkshire Bank 669 Whitehead Road Lawrenceville, NJ 8648 Full Service B&M $115,359
    Berkshire Bank 6788 Northern Blvd East Syracuse, NY 13057 Full Service B&M $113,531
    Berkshire Bank 7 Halfmoon Circle Clifton Park, NY 12065 Full Service B&M $100,884
    Berkshire Bank 7 Sycamore St Glastonbury, CT 6033 Full Service B&M $35,184
    Berkshire Bank 706 Stony Hill Road Morrisville, PA 19067 Full Service B&M $31,299
    Berkshire Bank 72 Shaker Road East Longmeadow, MA 1028 Full Service B&M $74,330
    Berkshire Bank 734 William Street Pittsfield, MA 1201 Full Service B&M $57,178
    Berkshire Bank 74 Lamb Street, Route 116 South Hadley, MA 1075 Full Service B&M $54,583
    Berkshire Bank 763 Farmington Avenue Farmington, CT 6032 Full Service B&M $6,945
    Berkshire Bank 820 Suffield Strret Agawam, MA 1001 Full Service B&M $49,991
    Berkshire Bank 840 Route 33 Mercerville, NJ 8619 Full Service B&M $179,771
    Berkshire Bank 8491 Seneca Turnpike New Hartford, NY 13413 Full Service B&M $37,647
    Berkshire Bank 9085 Old River Rd. Marcy, NY 13403 Full Service B&M $19,449
    Berkshire Bank 91 Main Street Milford, MA 1757 Full Service B&M $36,842
    Berkshire Bank 927 Farmington Avenue West Hartford, CT 6107 Full Service B&M $111,976
    Berkshire Bank 979 Central Avenue Albany, NY 12205 Full Service Retail $20,160
    Berkshire Bank 98 Wolf Road Colonie, NY 12205 Full Service B&M $24,213
    Berkshire Bank 99 North Street Pittsfield, MA 1201 Full Service B&M $1,172,857
    Berkshire Bank 993 Grafton Street Worcester, MA 1604 Full Service B&M $65,105
    Berkshire Bank Mansion Square Shopping Center Niskayuna, NY 12309 Full Service B&M $27,677
    Berkshire Bank One West Main Street Little Falls, NY 13365 Full Service B&M $24,399
    Berkshire Bank Shaker Pine Village Colonie, NY 12205 Full Service B&M $32,833
    Berkshire Bank West Main Street West Winfield, NY 13491 Full Service B&M $35,984

    For 2018, Berkshire Bank had 117 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $470,837
    Net interest income $363,630
    Total noninterest income $101,081
    Gross Fiduciary activities income $6,143
    Service charges on deposit accounts $18,237
    Trading account gains and fees $34,660
    Additional Noninterest Income $42,041
    Pre-tax net operating income $140,216
    Securities gains (or losses, -) $-2,561
    Income before extraordinary items $109,899
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $109,899
    Minority interest net income $0
    Net income $109,899
    Sale, conversion, retirement of capital stock, net $-38
    Net operating income $111,947

    Berkshire Bank's gross interest income from loans was $470,837,000.
    Berkshire Bank's net interest income from loans was $363,630,000.
    Berkshire Bank's fee based income from loans was $18,237,000.
    Berkshire Bank's net income from loans was $109,899,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $107,207
    Provision for credit losses $25,451
    Total noninterest expense $299,044
    Salaries and employee benefits $157,583
    Premises and equipment expense $38,094
    Additional noninterest expense $103,367
    Applicable income taxes $27,756
    Net charge-offs $15,816
    Cash dividends $45,500

    Berkshire Bank's interest expense for loans was $107,207,000.
    Berkshire Bank's payroll and benefits expense were $157,583,000.
    Berkshire Bank's property, plant and equipment expenses $38,094,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $9,057,698
    Deposits held in domestic offices $9,057,698
    Deposits by Individuals, partnerships, and corporations $8,725,227
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $328,540
    Deposits by Commercial banks and other depository institutions in U.S. $3,928
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $938,295
    Demand deposits $454,359
    Nontransaction accounts $8,119,403
    Money market deposit accounts (MMDAs) $2,245,640
    Other savings deposits (excluding MMDAs) $2,586,045
    Total time deposits $3,287,717
    Total time and savings deposits $8,603,339
    Noninterest-bearing deposits $1,677,983
    Interest-bearing deposits $7,379,714
    Retail deposits $7,138,205
    IRAs and Keogh plan accounts $312,328
    Brokered deposits $1,418,732
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $12,187,936
    Cash & Balances due from depository institutions $144,901
    Interest-bearing balances $43,725
    Total securities $1,826,134
    Federal funds sold & reverse repurchase $38,492
    Net loans and leases $9,078,017
    Loan and leases loss allowance $61,469
    Trading account assets $46,866
    Bank premises and fixed assets $106,223
    Other real estate owned $1,541
    Goodwill and other intangibles $551,943
    All other assets $393,819

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $12,187,936
    Total Liabilities $10,642,654
    Total deposits $9,057,698
    Interest-bearing deposits $7,379,714
    Deposits held in domestic offices $9,057,698
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $34,211
    Other borrowed funds $1,439,284
    Subordinated debt $0
    All other liabilities $111,461

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $9,078,017
    Loan and leases loss allowance $61,469
    Total loans and leases (domestic) $9,139,486
    All real estate loans $6,443,502
    Real estate loans in domestic offices $6,443,502
    Construction and development loans $371,067
    Residential 1-4 family construction $53,984
    Other construction, all land development and other land $317,083
    Loans secured by nonfarm nonresidential properties $2,255,841
    Nonfarm nonresidential secured by owner-occupied properties $562,121
    Commercial real estate & other non-farm, non-residential $1,693,720
    Multifamily residential real estate $551,487
    1-4 family residential loans $3,265,107
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $1,912,918
    To non-U.S. addressees $0
    Loans to individuals $587,040
    Credit card loans $111
    Related Plans $7,248
    Consumer Auto Loans $542,515
    Other loans to individuals $37,166
    All other loans & leases $196,025
    Loans to foreign governments and official institutions $0
    Other loans $40,043
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $9,531
    Non 1-4 family restructured loans & leases $7,390
    Total loans and leases (foreign) $0

    Berkshire Bank had $9,078,017,000 of loans outstanding in 2018. $6,443,502,000 of loans were in real estate loans. $371,067,000 of loans were in development loans. $551,487,000 of loans were in multifamily mortgage loans. $3,265,107,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $111,000 of loans were in credit card loans. $542,515,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 752 $166,211 $221,025
    Nonfarm, nonresidential loans - <$100k 75 $3,182 $42,427
    Nonfarm, nonresidential loans - $100-250k 233 $23,906 $102,601
    Nonfarm, nonresidential loans - $250k-1MM 444 $139,123 $313,340
    Commercial & Industrial, US addressed loans - <$1MM 6,449 $442,145 $68,560
    Commercial & Industrial, US addressed loans - <$100k 4,371 $105,673 $24,176
    Commercial & Industrial, US addressed loans - $100-250k 1,155 $121,716 $105,382
    Commercial & Industrial, US addressed loans - $250k-1MM 923 $214,756 $232,672