-
Berkshire Hills Bancorp recently recruited William Ryan, retired TD Banknorth CEO, leading some observers to discuss what role he might play in the Massachusetts company's growth plans.
July 9 -
Berkshire Hills Bancorp (BHLB) in Pittsfield, Mass., has named William J. Ryan as its new chairman and said that its lead independent director, Lawrence Bossidy, is retiring from its board.
June 30 -
Berkshire Hills Bancorp (BHLB) in Pittsfield, Mass., has terminated all of its interest rate swaps associated with Federal Home Loan Bank advances through the end of last year.
March 11
Berkshire Hills Bancorp (BHLB) in Pittsfield, Mass., and its Berkshire Bank have changed charters.
The $6 billion-asset company
The company also disclosed that it had ended its membership in Massachusetts" Depositors Insurance Fund, which offered coverage above what is offered by the Federal Deposit Insurance Corp. Berkshire Hills noted that excess deposits will continue to be insured by the fund through July 11, 2015, and that regular FDIC coverage remains.
Berkshire Hills said in the filing that its bank's growth in deposits had "necessitated" its withdrawal from the state's deposit coverage and the charter conversion. The changes will also provide the company with "greater flexibility" with commercial lending since it will no longer be subject to the compliance requirements under the "Qualified Thrift Lender" test.