Berkshire Hills Bancorp, Inc and Berkshire Bank Featured in American Banker.PITTSFIELD, Mass. -- Berkshire Hills Berkshire Hills (bûrk`shər, –shĭr), mountainous region of wooded hills with many small lakes and streams, W Mass. The Berkshires are a southern extension of the Green Mts. Bancorp, Inc. (the "Company") (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BHLB), and its subsidiary, Berkshire Bank (the "Bank"), were featured in the March 20, 2006 issue of American Banker American Banker is a daily newspaper covering the financial services industry. Founded in 1835 and based in New York, American Banker's 70 reporters and editors in six cities monitor developments and breaking news affecting banks. . The article reviews how President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Michael P. Daly is leading the Company, with guidance and advice from Non-Executive Chairman, Lawrence A. Bossidy. The article discusses how the Bank has grown since late 2002, when Mr. Daly was named to his present post, and continues to be the dominant financial institution in its home base of Berkshire County and is being transformed into a major regional financial player throughout Western Massachusetts and Northeastern New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Since October 2002, the Company has doubled in size as a result of organic growth and the acquisition of Woronoco Bancorp in 2005. Mr. Daly stated that by the end of 2008, the Company intends to increase in the size from $2 billion to $3 billion by increasing deposits nearly 50%, increasing loans by about 64% to $2.3 billion, increasing assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. by about 90% to $795 million and growing its branch network from 24 to 50 full-service branches. American Banker is the pre-eminent daily trade publication for the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. banking industry and has provided reporting and coverage on the industry since 1835. BACKGROUND Berkshire Hills Bancorp, Inc. is the holding company for Berkshire Bank. Established in 1846, Berkshire Bank is one of Massachusetts' oldest and largest independent banks and the largest banking institution based in Western Massachusetts. The Bank is headquartered in Pittsfield, Massachusetts with branches serving communities throughout Western Massachusetts and Northeastern New York. The Bank is transitioning into a regional bank and is positioning itself as the financial institution of choice in its retail and commercial markets, delivering exceptional customer service and a broad array of competitively priced deposit, loan, insurance, wealth management and trust services, and investment products. For more information on Berkshire Hills Bancorp, Inc. or Berkshire Bank, visit www.berkshirebank.com or call 800-773-5601. |
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