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PRESS RELEASE
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Two merged Adams banks will start to act as one beginning next month
By Tony Dobrowolski, New England Newpapers
Thursday January 19, 2012
ADAMS -- Adams Community Bank, the new entity formed last year when two of Berkshire County's oldest community banks merged, will officially begin operation Monday, Feb. 27, bank officials said Wednesday.
The merger of the Adams Co-Operative Bank and the South Adams Savings Bank received final regulatory approval in December, three months after the plan had first been announced.
The two banks, both founded in the 19th century, cease to exist on Saturday, Feb. 25. The merged bank will re-open under its new name two days later.
Joseph F. Truskowski, the president and CEO of Adams Co-Operative Bank, said the changeover date was suggested by the computer company that provides services to both financial institutions.
"It should be seamless for our customers," Truskowski said. "A survey will go out to customers very shortly that should answer all the questions."
In preparation for the opening of the new financial institution, officials have released a new logo that includes two of the three colors that were visible on each bank's separate trademarks. Billboards announcing the new logo went up in Berkshire County last week . The new logo contains the words Adams Community Bank inscribed in crimson red and navy blue against a plain gray background.
Truskowski said the banks devised the new logo with help from The Prism Partnership, which has a regional office in Lenox, and in October helped the bank choose its new name. It took about four to six weeks to settle on the final logo's design, he said.
"We wanted something simple," Truskowski said. "We looked at a lot of different concepts, but we all gravitated to this immediately when we saw it."
"Our team was drawn to the simplicity of the concept," said Charles P. O'Brien, the president and CEO of South Adams Savings Bank, in a written statement.
The Adams Community Bank will be founded under
a Massachusetts Savings Bank charter, and contain $393 million in
assets. It will be headquartered in Adams, and maintain full service
offices in Adams, Cheshire, Lanesborough, Lee, Williamstown and
North Adams. Truskowski will be the new bank's president and
O'Brien will serve as its CEO. |
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