| March 2007
2006 Year End Results Announced
Welcome to The Berkshire Bank. Continuing our long tradition of being The Bank that puts your interest first, we are pleased to announce our year end results for 2006.
As of December 31, 2006, the combined total assets of the Bank was $921.5 million and the net income for the year was $5.2 million. In 2006, the Bank opened its fourth location in Brooklyn, its first branch in the State of New Jersey, and announced the opening of our next location in Washington Heights. New user friendly BerkOnline® options were introduced and such programs as Merchant Services and Berkshire Bank Credit Cards were launched. 2006 was a very exciting year for the Bank.
The year started with a Grand Opening Celebration in our newest branch in Brooklyn. In February, community leaders, local businesses, elected officials and other dignitaries gathered on Midwood’s Avenue J to celebrate the opening of our branch at 1119 Avenue J. Avenue J is now one of four branches in Brooklyn, joining our Kings Highway and two Borough Park branches.
In May 2006, The Bank also opened its first branch in New Jersey. Situated on a major thoroughfare at 600 Broad Avenue in Ridgefield, New Jersey, this eleventh branch is easily accessible by car and public transportation and proudly offers the same high quality of products and services that you expect from The Berkshire Bank.
Spring 2007 will be another cause for celebration as The Berkshire Bank opens its new Washington Heights branch. Centrally located at 210 Pinehurst Avenue, on the corner of Fort Washington Avenue and 186th Street, this branch will be excited to offer such products as personal and business accounts, merchant services, and many more services to our new neighborhood.
Two exciting new services being introduced by the Bank this year include Branch Remote Capture and Customer Remote Capture. Branch Remote Capture is a new system that allows branch personnel to process and submit transactions and images electronically throughout the day reducing time and cost. While the new Customer Remote Capture Service allows customers to safely and quickly scan and transmit checks directly to the Bank for clearing resulting in less time than traveling to their local branch.
Listed above are just a few ways that The Berkshire Bank continues to grow to meet the needs of our valued customers. The Berkshire Bank is a New York State chartered, FDIC insured commercial bank with branches in New York City, Orange County, and Sullivan County in New York and Bergen County in New Jersey. For complete details on our Bank and its products and services, just visit our website at www.berkbank.com. The Berkshire Bank is proud to be known as The Bank that puts your interest first.