Berkshire Bank

24 North Street
Pittsfield, MA 01201


2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 23621
Date Established 1846
Assets $12.15 billion
Loans $9.03 billion
Deposits $9.24 billion
Capital $1.57 billion

Berkshire Bank is an FDIC insured institution located in Pittsfield, MA. It was founded in 1846 and has approximately $12.15 billion in assets. Customers can open an account at one of its 122 branches.

For a more detailed analysis of Berkshire Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - August 25, 2019

Your Current Location: Washington, WA 98101

Savings and Money Market Rates APY MIN MAX
Money Market
0.05% $10 $9,999 Learn MoreShow Less
Money Market
0.10% $10 $9,999 Learn MoreShow Less
Money Market
0.10% $10,000 $24,999 Learn MoreShow Less
Money Market
0.15% $10,000 $24,999 Learn MoreShow Less
Money Market
0.25% $25,000 $49,999 Learn MoreShow Less
Money Market
0.15% $25,000 $49,999 Learn MoreShow Less
3 Mo CD
0.05% $1,000 - Learn MoreShow Less
Special: 6 Mo CD
2.15% $1,000 - Learn MoreShow Less
Special: 6 Mo CD
2.30% $1,000 - Learn MoreShow Less
6 Mo CD
0.10% $1,000 - Learn MoreShow Less
12 Mo CD
0.15% $1,000 - Learn MoreShow Less
Special: 13 Mo CD
1.85% $5,000 - Learn MoreShow Less
18 Mo CD
0.50% $200 - Learn MoreShow Less
Special: 20 Mo CD
1.65% $1,000 - Learn MoreShow Less
24 Mo CD
0.50% $200 - Learn MoreShow Less
30 Mo CD
0.60% $1,000 - Learn MoreShow Less
36 Mo CD
0.90% $1,000 - Learn MoreShow Less
48 Mo CD
1.10% $1,000 - Learn MoreShow Less
60 Mo CD
1.25% $1,000 - Learn MoreShow Less

Fixed IRA
2.10% $1,000 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
0.15% $1,000 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.02% $10 - Learn MoreShow Less
Checking Rates APY MIN FEE
Free Checking 0.00% $0 $0.00 Learn MoreShow Less

Loan Rates - August 25, 2019

Your Current Location: Washington, WA 98101

Home Equity Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
3 Year 4.74% 4.74% $746.36
4 Year 4.74% 4.74% $572.79
5 Year 4.74% 4.74% $468.81

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.


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Berkshire Bank Locations

Financial Details

Berkshire Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Berkshire Bank. The data is provided by the FDIC. All banks listed on are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Berkshire Bank U.S. Bank Average
3.26% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2019, Berkshire Bank had $51,553,000 in non-current loans and $1,550,000 in owned real estate. To cover these potential losses it had $1,565,591,000 in equity and $62,038,000 in loans loss reserves. That gives it a Texas Ratio of 3.26%.

Return on Equity
Berkshire Bank U.S. Bank Average
6.18% 9.47%

Berkshire Bank has a Return on Equity of 6.18% versus the BestCashCow average of 9.47%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Berkshire Bank U.S. Bank Average
12.89% 12.49%

Berkshire Bank has a Capitalization of 12.89% versus the BestCashCow average of 12.49. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Berkshire Bank Balance Sheet Analysis

As of March 31, 2019, Berkshire Bank had assets of $12,148,776,000, loans of $9,027,051,000, and deposits of $9,244,501,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2019
Cash & Balances due from depository institutions $0.13 billion
Interest-bearing balances $0.03 billion
Total securities $1.81 billion
Federal funds sold and reverse repurchase $0.04 billion
Net loans and leases $9.03 billion
Loan loss allowance $0.06 billion
Trading account assets $0.06 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.55 billion
All other assets $0.35 billion
     Total Assets $10.58 billion
Total deposits $9.24 billion
      Interest-bearing deposits $7.64 billion
      Deposits held in domestic offices $9.24 billion
      % insured (estimated) 68.93%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.05 billion
Other borrowed funds $1.21 billion
Subordinated debt $0.00 billion
All other liabilities $0.08 billion
      Total Liabilities $10.58 billion
      Shareholders’ Equity $1.57 billion

Summary Income Statement

March 31, 2019
Total Interest Income $0.12 billion
Total Interest Expense $0.03 billion
Net interest income $0.09 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.02 billion
Total non interest expense $0.07 billion
Pre-tax Net Operating Income $0.03 billion

Bank Loan Profile?

The top three loan types in Berkshire Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Commercial and Industrial Loans.

Compared to other banks in Massachusetts, Berkshire Bank has a significantly higher percent of Consumer Auto Loans, Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 36.22
Credit Card Loans 0.00
Consumer Auto Loans 5.74
Small Business Loans 1.77
Construction and Development Loans 3.93
Commercial Real Estate 24.81
Commercial and Industrial Loans 21.10
Farm Loans 0.00

Frequently Asked Questions About Berkshire Bank

Branches and Savings

Is Berkshire Bank FDIC insured?

Yes. It is covered under FDIC Certificate #23621.

Why does Berkshire Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Berkshire Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Berkshire Bank a commercial bank?


Where are Berkshire Bank locations?

See branch locations nearby.

Is Berkshire Bank open on Saturdays?

Is Berkshire Bank open on Sundays?

What time does Berkshire Bank open?

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Are Berkshire Bank ATMs Open 24/7?

Do Berkshire Bank ATMs accept cash deposits?

Can Berkshire Bank customers use other ATMs?

Do Berkshire Bank branches have notaries?

Will Berkshire Bank notarize my document?

What address for Berkshire Bank should I put for incoming ACH transfers?

Will the Berkshire Bank branch print checks?

Do Berkshire Bank checks expire?

Does Berkshire Bank require US citizenship to open account?

Can Berkshire Bank close my account?

Does Berkshire Bank Report to credit bureaus?

Does Berkshire Bank Use Equifax?

What is Berkshire Bank's ACH Routing Number?

What is Berkshire Bank's SWIFT code?


Does Berkshire Bank offer mortgages?

Compare mortgage rates here.

Does Berkshire Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Berkshire Bank offer personal loans?

Compare personal loan rates here.

Does Berkshire Bank offer student loans?

Will Berkshire Bank cash a check?

Will Berkshire Bank redeem a savings bond?

Does Berkshire Bank cash savings bonds?

Will Berkshire Bank cash money orders?

Can Berkshire Bank issue a money order?

Does Berkshire Bank do currency exchange?

Background on The Bank

Who owns Berkshire Bank?

How long has Berkshire Bank been around?

Can Berkshire Bank transfer to other banks?

Does Berkshire Bank have quick pay?

Does Berkshire Bank accept rolled coins?

Will Berkshire Bank accept loose change?

Where is Berkshire Bank headquarters?

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