Berkshire Bancorp Inc. is a bank holding company whose principal activity is the ownership and management of its wholly owned subsidiary, The Berkshire Bank (the Bank). The Bank, a chartered commercial bank, was established in 1989 to provide highly personalized services to high-net-worth individuals and to small and mid-sized commercial businesses primarily from the New York City metropolitan area. The Banks principal business consists of gathering deposits from the general public and investing those deposits primarily in loans, debt obligations issued by the United States Government, its agencies and business corporations, as well as mortgage-backed securities. The Bank operates from three deposit-taking offices in New York City and four deposit-taking offices in Orange and Sullivan Counties, New York. The Banks principal loan types are residential and commercial mortgage loans and commercial non-mortgage loans, both unsecured and secured by personal property.