Savings Institute to merge with Berkshire Bank

Apr 16, 2019
Savings Institute Merging with Berkshire Bank

We are writing to let you know that, subject to regulatory approval, Savings Institute Bank & Trust will be merging with Berkshire Bank.

As a united institution under the Berkshire Bank name, we look forward to continuing to build on our shared legacy of excellence with a culture of diversity, respect, and belonging. Also, this merger will enable us to provide you with greater convenience and access to a broader array of financial solutions along with the level of service you deserve.

We value you as a Savings Institute customer, and we’re focusing on making sure the transition is as effortless and straight forward as possible. In the near term, that means you’ll be able to continue banking as usual at the same branch locations and with the same team you’ve come to know and trust. Over the next several months, you’ll receive product and service updates, including a welcome packet designed to answer your questions.

This transaction brings together two organizations with rich histories and strong values, including a deep commitment to supporting our customers and the communities we serve. In 2018, on a combined basis, Savings Institute and Berkshire Bank, along with their respective Foundations, donated over $4.25 million and their employees logged more than 43,000 volunteer hours for the benefit of local community service organizations.

We anticipate finalizing the integration of Savings Institute into Berkshire Bank by the end of the year. Once complete, you’ll be able to enjoy access to additional solutions such as private banking, insurance, investments, wealth management and an expanded branch and ATM network across Connecticut, Rhode Island, Massachusetts, New York, New Jersey, Pennsylvania and Vermont.

Thank you for being a loyal customer. If you have any questions, please feel free to stop by your local Savings Institute branch or contact us at 800-423-0142.

Rheo Brouillard
President & CEO
Savings Institute Bank & Trust

Richard Marotta
CEO
Berkshire Bank

Banking products are provided by Savings Institute Bank & Trust and Berkshire Bank: Member FDIC.
Insurance and investment products are NOT FDIC-INSURED, are NOT A DEPOSIT, NOT GUARANTEED BY THE BANK, NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY and MAY LOSE VALUE.