Karyn Polito named to board of Berkshire Bank parent
Photo | Courtesy of Berkshire Hills Bancorp
Karyn Polito was named to the board of Berkshire Hills Bancorp.
Former Massachusetts lieutenant governor and lifelong Shrewsbury resident Karyn Polito on Thursday was appointed to the board of Berkshire Hills Bancorp, Inc., the parent of Pittsfield-based Berkshire Bank, with branches throughout Central Massachusetts.
Polito is the principal of Polito Development Corp. in Shrewsbury. She left public office in January with the inauguration of Gov. Maura Healey, and Lt. Gov. Kim Driscoll.
"I've watched Berkshire evolve and grow into a well-respected, socially responsible, community-orientated institution at the forefront of meeting the financial needs of its customers and communities,” Polito said in a Thursday press release from Berkshire Hills. “I look forward to working alongside the Board and leadership team to leverage my network, relationships, and experience to take Berkshire to even greater heights."
Polito will serve on the risk management, capital and compliance, and corporate responsibility and culture committees of the board.
Berkshire Bank has 14 offices and more than $2.5 billion in deposits in Central Massachusetts as of June 30, according to the Federal Deposit Insurance Corp. The company controls approximately $11.7 billion in assets, according to the press release.
According to the WBJ Research department , Berkshire Bank was ranked seventh among banks in Central Massachusetts deposits in 2021. An updated list will be published in the Feb. 20 issue of WBJ.
Berkshire Hills Bancorp trades on the New York Stock Exchange and as of Friday morning has a market capitalization of $1.37 billion.
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