Berkshire Bank Mortgage Rates, Fees & Info
Pittsfield, MALEI: 549300LR1ZETOWYE9Z89
Tax ID: 04-3312097
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Bank Data
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
Home Equity Line of Credit (HELOC) | 6.27% | 9/1/24 |
30 Year Conventional Purchase | 5.89% | 9/1/24 |
30 Year Conventional Refi | 5.94% | 9/1/24 |
30 Year Cash-out Refi | 6.24% | 9/1/24 |
30 Year FHA Purchase | 7.07% | 9/1/24 |
30 Year FHA Refi | 6.90% | 9/1/24 |
30 Year VA Purchase | 6.73% | 9/1/24 |
15 Year Conventional Purchase | 5.93% | 9/1/24 |
15 Year Conventional Refi | 6.12% | 9/1/24 |
15 Year Cash-out Refi | 6.12% | 9/1/24 |
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
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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
1,613Origination Dollar Volume (All Markets)
$570,165,000Employee count
1,319 Show all (6) awardsBerkshire Bank - 2021
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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% |
Their top states include:
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.
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Product Mix
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
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
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
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
2021 saw Berkshire Bank place emphasis on $100k-200k loans with 527 originations, totaling $76,975,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications82.93%
Berkshire Bank has a below average approval rate.
Pick Rate
Approvals leading to origination81.77%
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 |
LTV Distribution
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 |