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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Boston, Albany, Worcester, Springfield, and Pittsfield among others. We have data for 45 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

    1,613

    Origination Dollar Volume (All Markets)

    $570,165,000

    Employee count

    1,319 Show all (6) 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
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 138 $190,680,000 $1,381,739 $3,760 3.32%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 77 $71,715,000 $931,364 $3,386 3.21%
    WORCESTER, MA-CT (FHA|USDA|VA) 204 $48,000,000 $235,294 $2,904 3.31%
    SPRINGFIELD, MA (FHA|USDA|VA) 243 $41,025,000 $168,827 $2,350 3.29%
    PITTSFIELD, MA (FHA|USDA|VA) 202 $40,290,000 $199,455 $3,239 3.21%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 22 $37,470,000 $1,703,182 $5,691 3.40%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 177 $33,375,000 $188,559 $3,176 3.23%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 95 $23,025,000 $242,368 $3,321 3.23%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 65 $14,575,000 $224,231 $3,081 3.37%
    UTICA-ROME, NY (FHA|USDA|VA) 97 $9,905,000 $102,113 $2,241 3.35%
    SYRACUSE, NY (FHA|USDA|VA) 88 $9,020,000 $102,500 $2,061 3.39%
    Hudson, NY (FHA|USDA|VA) 32 $7,780,000 $243,125 $2,992 3.47%
    GLENS FALLS, NY (FHA|USDA|VA) 24 $5,620,000 $234,167 $3,350 3.31%
    Outside of Metro Areas 16 $5,520,000 $345,000 $4,374 3.41%
    Bennington, VT (FHA|USDA|VA) 24 $4,930,000 $205,417 $2,258 3.36%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 4 $3,240,000 $810,000 $3,161 3.38%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 6 $2,740,000 $456,667 $3,644 3.39%
    OCEAN CITY, NJ (FHA|USDA|VA) 1 $2,705,000 $2,705,000 $14,069 2.88%
    Rutland, VT (FHA|USDA|VA) 21 $2,585,000 $123,095 $2,511 3.28%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 8 $2,160,000 $270,000 $3,884 3.33%
    Lebanon, NH-VT (FHA|USDA|VA) 10 $1,610,000 $161,000 $955 3.58%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 5 $1,455,000 $291,000 $4,738 2.83%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 4 $1,230,000 $307,500 $5,659 3.16%
    Laconia, NH (FHA|USDA|VA) 3 $1,125,000 $375,000 $3,446 3.04%
    Gloversville, NY (FHA|USDA|VA) 12 $1,120,000 $93,333 $1,621 3.42%
    Concord, NH (FHA|USDA|VA) 1 $995,000 $995,000 $4,498 2.63%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 3 $795,000 $265,000 $2,925 3.08%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 6 $760,000 $126,667 $1,711 3.26%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $685,000 $685,000 $6,081 2.75%
    Amsterdam, NY (FHA|USDA|VA) 4 $670,000 $167,500 $3,717 3.53%
    ROCHESTER, NY (FHA|USDA|VA) 3 $525,000 $175,000 $2,068 3.04%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 3 $465,000 $155,000 $3,695 3.42%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $465,000 $465,000 $3,544 3.63%
    Plattsburgh, NY (FHA|USDA|VA) 1 $275,000 $275,000 $9,876 3.38%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $265,000 $265,000 $7,745 2.50%
    Malone, NY (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.75%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $185,000 $185,000 $2,365 2.75%
    Torrington, CT (FHA|USDA|VA) 1 $175,000 $175,000 $2,842 2.88%
    READING, PA (FHA|USDA|VA) 1 $165,000 $165,000 $2,844 2.50%
    Auburn, NY (FHA|USDA|VA) 2 $150,000 $75,000 $1,580 3.44%
    Ogdensburg-Massena, NY (FHA|USDA|VA) 1 $145,000 $145,000 $0 4.00%
    Oneonta, NY (FHA|USDA|VA) 1 $145,000 $145,000 $75 3.50%
    Augusta-Waterville, ME (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.50%
    Keene, NH (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.25%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 1 $35,000 $35,000 $0 3.75%
    Berkshire Bank's top markets include Boston, Albany, Worcester, Springfield, and Pittsfield among others.

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

    SECNY Federal Credit Union
    Similarity Rank: 57
    FIRST NEW YORK
    Similarity Rank: 63
    SOMERSET
    Similarity Rank: 87
    N C P D Federal Credit Union
    Similarity Rank: 102
    Bank of Richmondville
    Similarity Rank: 141
    Homestar Mortgage, Inc.
    Similarity Rank: 156
    HUDSON RIVER COMMUNITY
    Similarity Rank: 162
    Geddes Federal Savings and Loan Association
    Similarity Rank: 192
    COUNTRYSIDE Federal Credit Union
    Similarity Rank: 192
    Adams Community Bank
    Similarity Rank: 208

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,052 $498,690,000 $474,040 $2,763 3.22%
    HELOC 506 $59,830,000 $118,241 n/a 3.49%
    FHA 41 $8,545,000 $208,415 $7,309 2.80%
    VA 12 $2,660,000 $221,667 $6,295 2.54%
    USDA 2 $440,000 $220,000 $6,596 2.44%

    For 2021, Berkshire Bank's most frequently originated type of loan was Conventional, with 1,052 originations. Their 2nd most popular type was HELOC, with 506 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 574 $176,780,000 $307,979 $2,605 3.17%
    Home Improvement 359 $31,175,000 $86,838 $240 3.59%
    Home Purchase 336 $285,030,000 $848,304 $4,306 3.17%
    Cash Out Refi 232 $62,330,000 $268,664 $3,519 3.17%
    Other 112 $14,850,000 $132,589 $1,177 3.57%

    For 2021, Berkshire Bank's most frequently cited loan purpose was Refi, with 574 originations. The 2nd most popular reason was Home Improvement, with 359 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 647 $86,615,000 $133,872 $1,692 3.50%
    30 Year 567 $173,035,000 $305,176 $4,045 3.10%
    15 Year 238 $45,250,000 $190,126 $2,592 2.95%
    10 Year 110 $46,480,000 $422,545 $503 3.62%
    5 Year 34 $116,840,000 $3,436,471 $3 3.62%
    Other 12 $45,800,000 $3,816,667 $2,425 3.45%
    3 Year 4 $55,250,000 $13,812,500 $0 3.69%
    30+ year 1 $895,000 $895,000 $8,237 3.38%

    For 2021, Berkshire Bank's most frequently cited loan duration was 20 Year, with 647 originations. The 2nd most popular length was 30 Year, with 567 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 751 $178,875,000 $238,182
    $1k-2k 121 $22,955,000 $189,711
    $2k-3k 56 $14,310,000 $255,536
    $3k-4k 31 $8,485,000 $273,710
    $5k+ 28 $11,190,000 $399,643
    $4k-5k 20 $5,910,000 $295,500

    Berkshire Bank's average total fees were $4,045, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 751 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,031 $358,845,000 $348,055
    2.5-3% 409 $121,925,000 $298,105
    <2.5% 99 $42,275,000 $427,020
    4-5% 71 $46,795,000 $659,085
    5-6% 3 $325,000 $108,333

    During 2021, Berkshire Bank's average interest rate for loans was 3.10%, while their most frequently originated rate bucket for loans was 3-4%, with 1,031 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 527 $76,975,000 $146,063 $2,982 3.20%
    $100,000 or less 507 $26,385,000 $52,041 $646 3.57%
    $200k-400k 377 $101,675,000 $269,695 $3,930 3.11%
    $400k-600k 104 $49,180,000 $472,885 $4,303 3.13%
    $600k-1MM 63 $47,135,000 $748,175 $4,777 3.10%
    $1MM+ 35 $268,815,000 $7,680,429 $6,332 3.25%

    2021 saw Berkshire Bank place emphasis on $100k-200k loans with 527 originations, totaling $76,975,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 339 $43,125,000 $127,212 $2,683 3.30%
    $100k-150k 289 $55,645,000 $192,543 $3,129 3.24%
    $150k-250k 276 $71,400,000 $258,696 $3,374 3.28%
    $75k-100k 252 $38,630,000 $153,294 $2,711 3.30%
    $50k or less 208 $20,200,000 $97,115 $2,321 3.28%
    $250k+ 176 $80,450,000 $457,102 $4,262 3.25%

    Berkshire Bank lent most frequently to those with incomes in the $50k-75k range, with 339 originations. The second most popular income band? $100k-150k, with 289 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 444 $92,020,000 $207,252 $2,794 3.26%
    30-36% 341 $64,805,000 $190,044 $2,970 3.27%
    <20% 187 $41,015,000 $219,332 $3,064 3.17%
    41% 70 $13,030,000 $186,143 $2,675 3.35%
    40% 59 $10,425,000 $176,695 $2,484 3.45%
    38% 57 $9,745,000 $170,965 $2,752 3.47%
    36% 51 $9,255,000 $181,471 $2,900 3.35%
    37% 48 $7,330,000 $152,708 $2,793 3.36%
    43% 40 $8,710,000 $217,750 $2,936 3.24%
    42% 39 $11,005,000 $282,179 $4,120 3.16%
    39% 38 $8,030,000 $211,316 $3,217 3.31%
    45% 38 $7,680,000 $202,105 $3,118 3.28%
    44% 31 $8,085,000 $260,806 $3,210 3.26%
    49% 31 $5,285,000 $170,484 $2,945 3.34%
    47% 28 $4,760,000 $170,000 $3,189 3.22%
    46% 25 $6,365,000 $254,600 $5,400 3.11%
    50-60% 25 $3,525,000 $141,000 $3,951 3.44%
    48% 22 $3,620,000 $164,545 $3,347 3.29%
    >60% 1 $175,000 $175,000 $0 4.25%

    Berkshire Bank lent most frequently to those with DTI ratios of 20-30%, with 444 originations. The next most common DTI ratio? 30-36%, with 341 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 37 $255,195,000 $6,897,162 $0 3.82%
    White 1,278 $235,650,000 $184,390 $2,827 3.30%
    Not provided 248 $65,180,000 $262,823 $3,790 3.14%
    Asian 34 $10,660,000 $313,529 $2,769 3.30%
    Black 11 $2,255,000 $205,000 $2,867 3.27%
    Asian Indian 3 $1,085,000 $361,667 $1,194 3.33%
    American Indian 2 $140,000 $70,000 $0 3.63%

    Approval Rates

    Total approvals of all applications
    82.93%

    Berkshire Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    81.77%

    Berkshire Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,613 $570,165,000 $353,481

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,613 $570,165,000 $353,481

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 301 $98,915,000 $328,621 $1,779 3.35%
    40-60% 299 $87,275,000 $291,890 $2,879 3.09%
    60-80% 450 $294,450,000 $654,333 $3,570 3.24%
    80-100% 215 $64,315,000 $299,140 $4,489 3.00%
    Over 100% 1 $235,000 $235,000 $11,172 2.25%
    Under 20% 347 $24,975,000 $71,974 $183 3.66%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    BERKSHIRE HILLS BANCORP, INC Conventional home mortgage Closing on a mortgage 1 10.0%
    BERKSHIRE HILLS BANCORP, INC Conventional home mortgage Incorrect information on your report 1 10.0%
    BERKSHIRE HILLS BANCORP, INC Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 10.0%
    BERKSHIRE HILLS BANCORP, INC Conventional home mortgage Struggling to pay mortgage 1 10.0%
    BERKSHIRE HILLS BANCORP, INC Conventional home mortgage Trouble during payment process 4 40.0%
    BERKSHIRE HILLS BANCORP, INC Home equity loan or line of credit (HELOC) Trouble during payment process 1 10.0%
    BERKSHIRE HILLS BANCORP, INC Other type of mortgage Trouble during payment process 1 10.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Berkshire Bank 1 Central Plaza Ilion, NY 13357 Full Service B&M $41,634
    Berkshire Bank 1 Park Street Lee, MA 1238 Full Service B&M $62,751
    Berkshire Bank 100 Bellevue Avenue Newport, RI 2840 Full Service B&M $87,077
    Berkshire Bank 100 Gibraltar Road Horsham, PA 19044 Full Service B&M $34,434
    Berkshire Bank 1000 Sullivan Avenue South Windsor, CT 6074 Full Service B&M $100,475
    Berkshire Bank 103 Main Street Sheffield, MA 1257 Full Service B&M $65,777
    Berkshire Bank 1055 Main Street Holden, MA 1520 Full Service B&M $94,747
    Berkshire Bank 108 Salem Tpke Norwich, CT 6360 Full Service Retail $51,032
    Berkshire Bank 11 Park Avenue Worcester, MA 1605 Full Service B&M $100,624
    Berkshire Bank 11 Vista Boulevard Slingerlands, NY 12159 Full Service B&M $13,457
    Berkshire Bank 114 Woodland St Hartford, CT 6105 Full Service Retail $2,649
    Berkshire Bank 115 Main Street Route 66 Hebron, CT 6248 Full Service B&M $76,478
    Berkshire Bank 116 Chelmsford Street Chelmsford, MA 1824 Full Service B&M $35,220
    Berkshire Bank 121 Congress Street Boston, MA 2110 Full Service Retail $357,041
    Berkshire Bank 122 Tower Hill Road Wakefield, RI 2879 Full Service B&M $61,339
    Berkshire Bank 1259 East Columbus Ave Springfield, MA 1105 Full Service B&M $211,920
    Berkshire Bank 1300 Erie Boulevard West Rome, NY 13440 Full Service B&M $33,534
    Berkshire Bank 1320 Washington Street Boston, MA 2118 Full Service B&M $37,964
    Berkshire Bank 1363 Allen Street Springfield, MA 1118 Full Service B&M $54,448
    Berkshire Bank 138 Longmeadow Street Longmeadow, MA 1106 Full Service B&M $117,890
    Berkshire Bank 140 Sanford Farms Plaza Amsterdam, NY 12010 Full Service B&M $41,060
    Berkshire Bank 152 Main Street Ludlow, VT 5149 Full Service B&M $61,025
    Berkshire Bank 16 Albany Turnpike Simsbury, CT 6070 Full Service B&M $25,658
    Berkshire Bank 1629 Black River Boulevard Rome, NY 13440 Full Service B&M $240,525
    Berkshire Bank 165 East Main Road Middletown, RI 2842 Full Service B&M $115,019
    Berkshire Bank 165 Elm Street Pittsfield, MA 1201 Full Service B&M $139,608
    Berkshire Bank 1704 Western Avenue, Town Center Plaza Guilderland, NY 12084 Full Service Retail $37,445
    Berkshire Bank 18 Post Road Westerly, RI 2891 Full Service B&M $51,558
    Berkshire Bank 18 Princeton Hightstown Road East Windsor, NJ 8520 Full Service B&M $117,592
    Berkshire Bank 180 Westminster Rd Route 14 Canterbury, CT 6331 Full Service B&M $63,999
    Berkshire Bank 183 Quaker Road Glens Falls, NY 12804 Full Service B&M $65,629
    Berkshire Bank 184 Broadway Whitehall, NY 12887 Full Service B&M $42,040
    Berkshire Bank 19 Harrison Avenue Springfield, MA 1101 Full Service B&M $110,452
    Berkshire Bank 1925 Curry Road Rotterdam, NY 12306 Full Service B&M $30,601
    Berkshire Bank 2 Depot Street West Stockbridge, MA 1266 Full Service B&M $53,005
    Berkshire Bank 200 Merrow Road Tolland, CT 6084 Full Service B&M $50,421
    Berkshire Bank 210-216 Main Street Oriskany Falls, NY 13425 Full Service B&M $24,034
    Berkshire Bank 22 Little River Road Westfield, MA 1085 Full Service B&M $50,818
    Berkshire Bank 22 West Street Rutland, VT 5701 Full Service B&M $124,522
    Berkshire Bank 220 Westfield Street West Springfield, MA 1089 Full Service B&M $56,084
    Berkshire Bank 225 Stockbridge Road Great Barrington, MA 1230 Full Service B&M $54,171
    Berkshire Bank 226 Boston Turnpike Shrewsbury, MA 1545 Full Service B&M $103,027
    Berkshire Bank 2344 Route 33 Robbinsville, NJ 8691 Full Service B&M $101,882
    Berkshire Bank 24 North St Pittsfield, MA 1201 Full Service B&M $0
    Berkshire Bank 244 Main Street Great Barrington, MA 1230 Full Service B&M $310,708
    Berkshire Bank 25 Main Street Lenox, MA 1240 Full Service B&M $147,645
    Berkshire Bank 25 Worcester Road Webster, MA 1570 Full Service B&M $104,373
    Berkshire Bank 2532 Route 9 Malta, NY 12020 Full Service B&M $24,172
    Berkshire Bank 255 Delaware Avenue, Delaware Plaza Delmar, NY 12054 Full Service B&M $73,372
    Berkshire Bank 30 East Otis Road Otis, MA 1253 Full Service B&M $24,127
    Berkshire Bank 30 South Pearl Street Albany, NY 12207 Full Service B&M $137,021
    Berkshire Bank 303 Turnpike Road (Route 9) Westborough, MA 1581 Full Service B&M $120,454
    Berkshire Bank 31 Court Street Westfield, MA 1085 Full Service B&M $209,058
    Berkshire Bank 32 Main Street Stockbridge, MA 1262 Full Service B&M $38,782
    Berkshire Bank 320 West Boylston Street West Boylston, MA 1583 Full Service B&M $69,391
    Berkshire Bank 322 Maple Street Marlborough, MA 1752 Full Service B&M $37,125
    Berkshire Bank 34 Oriskany Boulevard Whitesboro, NY 13492 Full Service B&M $57,194
    Berkshire Bank 344 Prospect St Moosup, CT 6354 Full Service B&M $43,516
    Berkshire Bank 3450 Richville Road Manchester Center, VT 5255 Full Service B&M $102,015
    Berkshire Bank 37 Main Street North Adams, MA 1247 Full Service B&M $58,372
    Berkshire Bank 3816 Vermont Route 7a Arlington, VT 5250 Full Service B&M $28,970
    Berkshire Bank 386 Main Street Worcester, MA 1608 Full Service B&M $1,097,458
    Berkshire Bank 39 Cheshire Road Pittsfield, MA 1201 Full Service B&M $167,625
    Berkshire Bank 396 Cromwell Ave Rocky Hill, CT 6067 Full Service B&M $103,646
    Berkshire Bank 399 Albany Shaker Road Loudonville, NY 12211 Full Service B&M $30,108
    Berkshire Bank 404 Main Street Worcester, MA 1608 Limited, Drive-thru $0
    Berkshire Bank 413 Washington St Brighton, MA 2135 Full Service B&M $51,191
    Berkshire Bank 431 Center Street Ludlow, MA 1056 Full Service B&M $97,336
    Berkshire Bank 4422 Route 27, Building B Kingston, NJ 8528 Full Service B&M $24,980
    Berkshire Bank 445 Liberty Street Pawcatuck, CT 6379 Full Service B&M $50,945
    Berkshire Bank 488 Columbia Pike New Lebanon, NY 12125 Full Service B&M $38,463
    Berkshire Bank 4912 Main Street Manchester Center, VT 5255 Full Service B&M $88,375
    Berkshire Bank 495 Pittsfield Road Lenox, MA 1240 Full Service B&M $44,583
    Berkshire Bank 5 East Main Westborough, MA 1581 Full Service B&M $68,531
    Berkshire Bank 50 Auert Avenue Utica, NY 13502 Full Service B&M $69,770
    Berkshire Bank 50 E High St East Hampton, CT 6424 Full Service B&M $19,572
    Berkshire Bank 50 Genesee Street New Hartford, NY 13413 Full Service B&M $62,529
    Berkshire Bank 50-52 Main Street Chatham, NY 12037 Full Service B&M $39,858
    Berkshire Bank 51 West Main Street Johnstown, NY 12095 Full Service B&M $25,741
    Berkshire Bank 536 Providence Road Brooklyn, CT 6234 Full Service B&M $91,143
    Berkshire Bank 537 Route 130, Suite 774 Hamilton, NJ 8691 Full Service B&M $94,632
    Berkshire Bank 554 Exeter Road Route 207 Lebanon, CT 6249 Full Service B&M $65,997
    Berkshire Bank 560 Park Avenue Worcester, MA 1603 Full Service B&M $88,625
    Berkshire Bank 561 Warren Street Hudson, NY 12534 Full Service B&M $48,957
    Berkshire Bank 565 Main Street Leominster, MA 1453 Full Service B&M $52,674
    Berkshire Bank 576 North Greenbush Road Rensselaer, NY 12144 Full Service B&M $25,797
    Berkshire Bank 596 Hartford Pike Dayville, CT 6241 Full Service B&M $55,163
    Berkshire Bank 602 Columbia Turnpike East Greenbush, NY 12061 Full Service B&M $37,050
    Berkshire Bank 608 College Highway Southwick, MA 1077 Full Service B&M $104,872
    Berkshire Bank 61-65 Brookline Avenue Boston, MA 2215 Full Service B&M $76,708
    Berkshire Bank 628 Loudon Road, Route 9 Latham, NY 12110 Full Service B&M $48,045
    Berkshire Bank 63 Norwich Ave Colchester, CT 6415 Full Service B&M $35,634
    Berkshire Bank 66 West Street Pittsfield, MA 1201 Full Service B&M $222,467
    Berkshire Bank 6611 Manlius Center Road East Syracuse, NY 13057 Full Service B&M $175,290
    Berkshire Bank 669 Whitehead Road Lawrenceville, NJ 8648 Full Service B&M $95,856
    Berkshire Bank 6788 Northern Blvd East Syracuse, NY 13057 Full Service B&M $109,010
    Berkshire Bank 7 Halfmoon Circle, The Crossing Clifton Park, NY 12065 Full Service B&M $99,618
    Berkshire Bank 7 Sycamore St Glastonbury, CT 6033 Full Service B&M $63,337
    Berkshire Bank 706 Stony Hill Road Morrisville, PA 19067 Full Service B&M $31,226
    Berkshire Bank 72 Shaker Road East Longmeadow, MA 1028 Full Service B&M $78,012
    Berkshire Bank 734 William Street Pittsfield, MA 1201 Full Service B&M $65,147
    Berkshire Bank 74 Lamb Street, Route 116 South Hadley, MA 1075 Full Service B&M $89,666
    Berkshire Bank 763 Farmington Avenue Farmington, CT 6032 Full Service B&M $16,546
    Berkshire Bank 803 Main Street Willimantic, CT 6226 Full Service B&M $128,162
    Berkshire Bank 820 Suffield Strret Agawam, MA 1001 Full Service B&M $104,247
    Berkshire Bank 840 Route 33 Mercerville, NJ 8619 Full Service B&M $148,763
    Berkshire Bank 8491 Seneca Turnpike New Hartford, NY 13413 Full Service B&M $40,203
    Berkshire Bank 85 Freshwater Boulevard Enfield, CT 6082 Full Service B&M $54,259
    Berkshire Bank 91 Main Street Milford, MA 1757 Full Service B&M $29,872
    Berkshire Bank 927 Farmington Avenue West Hartford, CT 6107 Full Service B&M $149,363
    Berkshire Bank 95 Storrs Road Mansfield Center, CT 6250 Full Service B&M $130,206
    Berkshire Bank 979 Central Avenue Albany, NY 12205 Full Service Retail $30,423
    Berkshire Bank 98 Wolf Road Colonie, NY 12205 Full Service B&M $58,374
    Berkshire Bank 99 North Street Pittsfield, MA 1201 Full Service B&M $629,427
    Berkshire Bank 993 Grafton Street Worcester, MA 1604 Full Service B&M $67,961
    Berkshire Bank 996 Poquonnock Road Groton, CT 6340 Full Service B&M $47,289
    Berkshire Bank Mansion Square Shopping Center, 3421 State Street Niskayuna, NY 12309 Full Service B&M $63,073
    Berkshire Bank One West Main Street Little Falls, NY 13365 Full Service B&M $26,357
    Berkshire Bank West Main Street West Winfield, NY 13491 Full Service B&M $43,599

    For 2021, Berkshire Bank had 119 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $329,051
    Net interest income $297,072
    Total noninterest income $95,866
    Gross Fiduciary activities income $6,553
    Service charges on deposit accounts $16,921
    Trading account gains and fees $3,479
    Additional Noninterest Income $68,913
    Pre-tax net operating income $116,965
    Securities gains (or losses, -) $-449
    Income before extraordinary items $94,745
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $94,745
    Minority interest net income $0
    Net income $94,745
    Sale, conversion, retirement of capital stock, net $-2,881
    Net operating income $95,108

    Berkshire Bank's gross interest income from loans was $329,051,000.
    Berkshire Bank's net interest income from loans was $297,072,000.
    Berkshire Bank's fee based income from loans was $16,921,000.
    Berkshire Bank's net income from loans was $94,745,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $31,979
    Provision for credit losses $-500
    Total noninterest expense $276,473
    Salaries and employee benefits $144,942
    Premises and equipment expense $39,411
    Additional noninterest expense $92,120
    Applicable income taxes $21,771
    Net charge-offs $20,707
    Cash dividends $84,000

    Berkshire Bank's interest expense for loans was $31,979,000.
    Berkshire Bank's payroll and benefits expense were $144,942,000.
    Berkshire Bank's property, plant and equipment expenses $39,411,000.

    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 0.0%
    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 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 2.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $10,182,209
    Deposits held in domestic offices $10,182,209
    Deposits by Individuals, partnerships, and corporations $9,906,533
    Deposits by U.S. Government $30
    Deposits by States and political subdivisions in the U.S. $274,253
    Deposits by Commercial banks and other depository institutions in U.S. $1,393
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $966,852
    Demand deposits $762,284
    Nontransaction accounts $9,215,357
    Money market deposit accounts (MMDAs) $3,293,349
    Other savings deposits (excluding MMDAs) $4,243,067
    Total time deposits $1,678,940
    Total time and savings deposits $9,419,925
    Noninterest-bearing deposits $3,121,863
    Interest-bearing deposits $7,060,346
    Retail deposits $9,562,354
    IRAs and Keogh plan accounts $295,405
    Brokered deposits $228,068
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $11,548,730
    Cash & Balances due from depository institutions $1,621,705
    Interest-bearing balances $1,512,020
    Total securities $2,529,435
    Federal funds sold & reverse repurchase $6,436
    Net loans and leases $6,725,863
    Loan and leases loss allowance $106,094
    Trading account assets $87,882
    Bank premises and fixed assets $150,383
    Other real estate owned $0
    Goodwill and other intangibles $45,641
    All other assets $381,385

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $11,548,730
    Total Liabilities $10,384,336
    Total deposits $10,182,209
    Interest-bearing deposits $7,060,346
    Deposits held in domestic offices $10,182,209
    % insured (estimated) $64
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $35,635
    Other borrowed funds $78,867
    Subordinated debt $0
    All other liabilities $87,625

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $6,725,863
    Loan and leases loss allowance $106,094
    Total loans and leases (domestic) $6,831,957
    All real estate loans $5,162,911
    Real estate loans in domestic offices $5,162,911
    Construction and development loans $323,469
    Residential 1-4 family construction $2,015
    Other construction, all land development and other land $321,454
    Loans secured by nonfarm nonresidential properties $2,540,371
    Nonfarm nonresidential secured by owner-occupied properties $606,477
    Commercial real estate & other non-farm, non-residential $1,933,894
    Multifamily residential real estate $515,817
    1-4 family residential loans $1,782,114
    Farmland loans $1,140
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $1,245,867
    To non-U.S. addressees $0
    Loans to individuals $161,910
    Credit card loans $75
    Related Plans $6,285
    Consumer Auto Loans $104,614
    Other loans to individuals $50,936
    All other loans & leases $261,269
    Loans to foreign governments and official institutions $0
    Other loans $37,879
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $158
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $17,272
    Non 1-4 family restructured loans & leases $16,574
    Total loans and leases (foreign) $0

    Berkshire Bank had $6,725,863,000 of loans outstanding in 2021. $5,162,911,000 of loans were in real estate loans. $323,469,000 of loans were in development loans. $515,817,000 of loans were in multifamily mortgage loans. $1,782,114,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $75,000 of loans were in credit card loans. $104,614,000 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 636 $129,561 $203,712
    Nonfarm, nonresidential loans - <$100k 63 $1,795 $28,492
    Nonfarm, nonresidential loans - $100-250k 177 $16,748 $94,621
    Nonfarm, nonresidential loans - $250k-1MM 396 $111,018 $280,348
    Commercial & Industrial, US addressed loans - <$1MM 4,444 $212,667 $47,855
    Commercial & Industrial, US addressed loans - <$100k 3,091 $50,509 $16,341
    Commercial & Industrial, US addressed loans - $100-250k 724 $53,171 $73,441
    Commercial & Industrial, US addressed loans - $250k-1MM 629 $108,987 $173,270
    Farmland loans - <$1MM 4 $333 $83,250
    Farmland loans - $100-250k 3 $273 $91,000
    Farmland loans - $250k-1MM 1 $60 $60,000