Berkshire Bank


24 North St
Pittsfield, MA 01201
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Notable Rates APY Vs.Others
Savings 0.10% 0.85% →
1-Year CD 0.15% 0.75% →
2-Year CD 0.50% 0.80% →
5-Year CD 0.50% 1.10% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

Berkshire Bank is an FDIC insured institution located in Pittsfield, MA. It was founded in 1846 and has approximately $12.27 billion in assets. Customers can open an account at one of its 122 branches.

FDIC Insured Yes
FDIC Certificate # 23621
Date Established 1846
Assets $ 12.27 billion
Loans $ 7.37 billion
Deposits $ 10.69 billion
Capital $ 1,130.09 million

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 - October 15, 2021

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
0.10% $2,500 $4,999 Learn More
6 Mo CD
0.25% $10,000 $14,999 Learn More
6 Mo CD
0.25% $100,000 $199,999 Learn More
12 Mo CD
0.15% $10,000 $14,999 Learn More
12 Mo CD
0.15% $100,000 $199,999 Learn More
18 Mo CD
0.50% $10,000 $14,999 Learn More
18 Mo CD
0.50% $100,000 $199,999 Learn More
24 Mo CD
0.50% $10,000 $14,999 Learn More
24 Mo CD
0.50% $100,000 $199,999 Learn More
30 Mo CD
0.50% $10,000 $14,999 Learn More
30 Mo CD
0.50% $100,000 $199,999 Learn More
36 Mo CD
0.50% $10,000 $14,999 Learn More
36 Mo CD
0.50% $100,000 $199,999 Learn More
48 Mo CD
0.50% $10,000 $14,999 Learn More
48 Mo CD
0.50% $100,000 $199,999 Learn More
60 Mo CD
0.50% $10,000 $14,999 Learn More
60 Mo CD
0.50% $100,000 $199,999 Learn More

Checking Rates APY MIN FEE
Free Checking 0.00% $0 $0.00 Learn MoreShow Less

Loan Rates - October 15, 2021

Your Current Location: Connecticut, CT 06828

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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Climate Initiatives

Berkshire Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

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
4.32% 4.78%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its 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 June 30, 2021, Berkshire Bank had $53,856,000 in non-current loans and $85,000 in owned real estate. To cover these potential losses it had $1,130,086,000 in equity and $119,044,000 in loans loss reserves. That gives it a Texas Ratio of 4.32%.

Return on Equity
Berkshire Bank U.S. Bank Average
6.23% 11.29%

Berkshire Bank has a Return on Equity of 6.23% versus the BestCashCow average of 11.29%. 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
9.21% 11.72%

Berkshire Bank has a Capitalization of 9.21% versus the BestCashCow average of 11.72. 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 June 30, 2021, Berkshire Bank had assets of $12,266,677,000, loans of $7,373,509,000, and deposits of $10,690,722,000. 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

June 30, 2021
Cash & Balances due from depository institutions $ 1,817.70 million
Interest-bearing balances $ 1,719.96 million
Total securities $ 2.32 billion
Federal funds sold and reverse repurchase $ 8.46 million
Net loans and leases $ 7.37 billion
Loan loss allowance $ 119.04 million
Trading account assets $ 121.71 million
Bank premises and fixed assets N.A.
Other real estate owned $ 0.09 million
Goodwill and other intangibles $ 53.01 million
All other assets $ 396.31 million
     Total Assets $ 11.14 billion
Total deposits $ 10.69 billion
      Interest-bearing deposits $ 7.60 billion
      Deposits held in domestic offices $ 10.69 billion
      % insured (estimated) 63.21%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities $ 47.59 million
Other borrowed funds $ 299.60 million
Subordinated debt N.A.
All other liabilities $ 98.68 million
      Total Liabilities $ 11.14 billion
      Shareholders’ Equity $ 1,130.09 million

Summary Income Statement

June 30, 2021
Total Interest Income $ 173.51 million
Total Interest Expense $ 20.10 million
Net interest income $ 153.41 million
Provision for loan and lease losses $ 6.50 million
Total non interest income $ 42.22 million
Total non interest expense $ 141.54 million
Pre-tax Net Operating Income $ 47.59 million

Bank Loan Profile?

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

Compared to other banks in Massachusetts, Berkshire Bank has a significantly higher percent of Consumer Auto Loans, Commercial Real Estate 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 28.07
Credit Card Loans 0.00
Consumer Auto Loans 2.04
Small Business Loans 2.07
Construction and Development Loans 5.93
Commercial Real Estate 35.13
Commercial and Industrial Loans 18.76
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?

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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?

Customer Reviews for Berkshire Bank

  • January 12, 2021

    They put paychecks on hold for a day so don’t expect your paycheck right away and they don’t answer their phones

  • January 12, 2021 |

    Berkshire is the worst bank I have ever dealt with I need to cancel my My debit card and I can’t even get through

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