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News
November 16, 2005
The Berkshire Bank is Coming to New Jersey
The Berkshire Bank announced that it has entered into an agreement to purchase a branch located at 600 Broad Avenue in Ridgefield, New Jersey from Oritani Savings Bank and the commercial deposits of that branch. The transaction is subject to approval from the New York State Banking Department, the Federal Deposit Insurance Corporation, and the New Jersey Department of Banking and Insurance.
Moses Krausz, the President and CEO of The Berkshire Bank, stated that “this new branch will be a milestone in the history of The Berkshire Bank, as it will be the first branch that the Bank opens outside of New York State.” He said that he expects this branch to open in early 2006, and it will be the Bank’s eleventh branch overall. “We are very excited about the opportunity to serve these new customers and offer them the high quality of products and services that The Berkshire Bank has become known for in New York,” said Krausz.
The Berkshire Bank is a New York State chartered, FDIC insured commercial bank that “puts your interest first.” The Bank, headquartered at 4 East 39th Street in New York City, was founded in 1989 and has grown to include branches in Manhattan, Brooklyn, Orange, and Sullivan Counties in New York and coming soon in Bergen County in New Jersey.
The Bank is a wholly owned subsidiary of Berkshire Bancorp Inc., whose stock trades on the Nasdaq National Market System under the symbol BERK. For more information about the Bank or its products, call or stop by one of its ten conveniently located branches or visit its website at www.berkbank.com
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