Berkshire Hills Bancorp, Inc. Completes Acquisition of Bank Branch in Oriskany Falls, New York.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"), (AMEX AMEX See: American Stock Exchange : BHL BHL Bleeding-Heart Liberal BHL Battle Handover Line BHL Breath Hydrogen Level BHL Biohazard Level BHL Bottom of Heated Length BHL Bachelor of Hebrew Letters/Literature BHL Bilateral Hilar Lymphadenomegaly BHL Back-Hoe Loader ), the holding company for Berkshire Bank ("Berkshire"), announced the completion today of Berkshire's purchase of the Oriskany Falls, New York Oriskany Falls is a village in Oneida County, New York in the United States. The population was 698 at the 2000 census. The name is derived from a waterfall on a nearby stream. , branch of The National Bank of Vernon. The branch acquisition includes approximately $8 million in deposits, real property related to the branch and certain other related assets. No customer loans are being transferred in connection with the transaction. Oriskany Falls is located in Oneida County, approximately 18 miles southwest of Utica. The purchase announced today is Berkshire's first full-service branch in 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 . It also maintains a Representative Office at 54 State Street, Albany, New York For other uses, see Albany. Albany is the capital of the State of New York and the county seat of Albany County. Albany lies 136 miles (219 km) north of New York City, and slightly to the south of the juncture of the Mohawk and Hudson Rivers. , which it opened in July of this year. Commenting on this purchase, Michael P. Daly, 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. of the Company and Berkshire, stated, "We look forward to bringing our wide array of banking services to businesses and consumers in Oriskany Falls and the surrounding areas. As a community bank, we strive to be a leader in supporting important activities in the areas we serve, and we are of course committed to doing so in Oriskany Falls. Customers of the branch should also know that we worked diligently with Vernon so that the transition will be seamless and any inconvenience will be kept to a minimum. I am also pleased to announce that all of the Oriskany Falls branch employees have been offered employment by us at that location. This acquisition is another step in increasing our banking franchise in New York." 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 is the largest banking institution based in western Massachusetts. The Bank is headquartered in Pittsfield, Massachusetts with 11 branch offices serving communities throughout Berkshire County and a Representative Office and one branch office in New York. The Bank is committed to continuing operation as an independent bank, delivering exceptional customer service and a broad array of competitively priced retail and commercial products to its customers. For more information, call 1-800-773-5601 or visit www.berkshirebank.com. |
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