Adams Community Bank experiences growth in 2013
Berkshire Eagle Staff
ADAMS -- The Adams Community Bank experienced growth in assets, loans and deposits in 2013, according to President and CEO Charles O’Brien.
The financial institution ended 2013 with total assets of $406 million and loans of $323 million, increases of 4.1 percent and 4.5 percent, respectively.
Deposits totaled $330 million, a 3.1 percent increase from 2012.
"Our long term strategic goal is to remain a strong, independent financial institution serving the businesses and residents of Berkshire County, and providing superb service to all of our customers," O’Brien said in statement.
The bank also continued its tradition of charitable giving by supplying $161,000 in donations, 17.3 percent of its net income, to local charities and organizations in Berkshire County.
Major gifts included $26,000 in educational scholarships to students from Adams, Cheshire, Lee, North Adams and Williamstown; $16,000 to local youth organizations; and $35,000 to the United Way as a corporate gift.
Sally Douglas, Jeffrey Grandchamp, J. Norman O’Connor Jr., Bernard Pinsonnault, and Howard Wineberg were re-elected as trustees at the bank’s annual meeting, which took place recently at McCann Technical School in North Adams.
Re-elected as corporators were William Cota, Nelson Daley, Richard King, Stephen Nelson, Scott Nichols, Matthew Pitoniak, Gary Polumbo, Walter Slosek and Joseph Truskowski, Jr.
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