Western New England, with 23 banking offices, including the Company’s headquarters
in Pittsfield, Mass. This region includes Berkshire County, Mass., which is the
Company’s traditional market, where it has a leading market share in many
of its product lines. This region also includes Southern Vermont, and many of
the region’s branches are in communities close to Route 7, which runs north/south
through the valleys to the west of the Berkshire Hills and Green Mountains. This
region is within commuting range of both Albany, N.Y., and Springfield, Mass.,
and is known throughout the world as a tourist and recreational destination area,
with vacation and second home traffic from Boston and New York City. The Pittsfield
2014 MSA GDP totaled $6 billion.
New York, with 43 banking offices serving the Albany Capital District and Central
New York. Albany is the state capital and is part of New York’s Tech Valley
which is gaining prominence as a world technology hub including leading edge nanotechnology
initiatives representing a blend of private enterprise and public investment.
The Company’s Central New York area includes operations in the Rome/Utica
MSA and in the Syracuse MSA. These are markets along Interstate 90 with longstanding
local industries and expansion influences from the Albany Capital District. The
Albany/Schenectady 2014 MSA GDP was $49 billion, and the Rome/Utica/Syracuse total
2014 MSA GDP was $42 billion.
Hartford/Springfield, with 25 banking offices serving the market along the Connecticut
River in this region, which is the second largest economic area in New England.
This region is centrally located between Boston and New York City at the crossroads
of Interstate 91, which traverses the length of New England, and Interstate
90, which traverses the width of Massachusetts. This region also has easy access
to Bradley International Airport, which is a major airport serving central New
England. The Springfield area is receiving major commercial investment including
the first Massachusetts casino/entertainment complex, railcar manufacturing,
and highway development. The Hartford/Springfield combined 2014 MSA GDP was
$110 billion.
Eastern Massachusetts, with lending offices and two branch offices located in
towns west and north of Boston. Eastern Massachusetts is the largest economic
area in New England, and the Company’s banking operations extend from
Worcester within the commuting and commerce area of Boston, east to Boston and
its suburbs. Boston is viewed as a leading commercial real estate market nationally,
including foreign demand for commercial and multifamily properties. The Bank’s
Asset Based Lending Group is headquartered in this region, and serves middle
market businesses throughout the Company’s footprint. The Boston/Worcester
combined 2014 MSA GDP was $420 billion.
Sources:
’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: ’s corporate clients.
For your research, we’ve provided 9 tables on corporate clients.
You can find them in the navigation menu under Customers & Markets.
To download the tables, please subscribe.
