Adams, MA – May 16, 2018- Adams Community Bank held its annual meeting on April 11, 2018 at the McCann Technical School in North Adams. In an announcement from Charles O’Brien, President and CEO, he noted the bank surpassed projections in both deposit and loans resulting in another excellent year. O’Brien was pleased to highlight that the bank has grown 34% in assets in the last 4 years to $527 million.
O’Brien attributed much of the Bank’s growth to gaining on the number one spot in market share for mortgage lending in Northern Berkshire and achieving the #1 ranking in Southern Berkshire County. “Our lending team is well-known and respected within our community. Along with our local decision making, not having a one size fits all lending model, and the attention our customer’s receive from application to closing and beyond is what makes us a true community bank and one that our customer’s respond to and appreciate.” said O’Brien. “We have also increased our deposit market share, our commercial loan portfolio and improved our asset quality ratios which are the best we have seen in almost a decade.””
Other good news shared that evening included showcasing the Information Technology Department for their significant contributions to the Bank’s success. For the past 10 years, CIO Kathleen J. Luczynski has led this area of constant change and increasing risk. “Kathy, and her amazing group of professionals work tirelessly to stay one step ahead in today’s reality of Cyber fraud evolution” O’Brien said.
The Bank’s top priority and focus remains on security. “My team continuously monitors the environment and threats to ensure the bank has the layered security, processes and procedures in place to safeguard our customer and employee data,” said Luczynski.
Adams Community Bank is an independent, community savings bank located in the Berkshires of Western Massachusetts and headquartered in Adams, MA. Adams Community Bank’s savings bank charter was incorporated in 1869 and has eight branch locations in the region. They are in: Adams, Cheshire, Lanesboro, Lee, Lenox, North Adams and Williamstown. Member FDIC. Member DIF. Equal Housing Lender.