PITTSFIELD — Two of the region’s oldest community banks have agreed to a merger that, if regulators sign off, would create a single bank with a combined $1.5 billion in assets, nearly 200 employees and 15 branches across Berkshire County.

Adams Community Bank and Pittsfield Cooperative Bank announced Monday they intend to merge by the end of the year, pending regulatory approval. The new bank does not yet have a name, but it has a leadership structure in place and a plan to locate its headquarters in downtown Pittsfield.

The announcement was made to employees first, then to local media. Employment and branch locations at the two banks are expected to remain unchanged during the transition, the banks said.

A news release from both banks announcing the agreement called it a “merger of equals” and “a strategic partnership between two well-positioned community banks — each strong enough to remain independent, coming together with a shared vision to better serve the Berkshires.”

Gregg Levante, the president of Pittsfield Cooperative Bank, will become president of the newly merged bank.

Adams Community Bank is the larger of the two banks, with $1 billion in assets and nine locations, compared to about $430 million in assets and five locations for Pittsfield Cooperative Bank.

The two banks say the deal creates “a centrally located, locally focused community bank dedicated to serving the businesses, individuals, and families of the region.”

The merger agreement creates “a unified governance structure that represents both institutions.”

Julie Fallon Hughes, the president and CEO of Adams Community Bank since 2024, will be chief executive officer of the new bank, which will retain Adams Community Bank’s mutual holding company, Bancorp of the Berkshires MHC, as its corporate holding company.

Pittsfield Cooperative Bank President Gregg Levante will serve as president, and Andre Charbonneau, currently executive vice president and chief operating officer of Adams Community Bank, will serve as its chief operating officer.

Julie Fallon Hughes, the CEO of Adams Community Bank, will become CEO of a new bank resulting from the merger of Adams Community Bank and Pittsfield Cooperative Bank.

All customer deposits will continue to be fully insured by the Federal Deposit Insurance Corporation and the Depositors Insurance Fund. The new bank will continue to prioritize community involvement and philanthropic support, the release said.

“By uniting two mutually owned community banks with deep roots in the Berkshires, we are creating a strong partnership for our customers, employees, and communities,” Pittsfield Cooperative Bank CEO Michael Daly said in the joint news release. “Our combined institution will bring added strength and investment to the Berkshires, positioning us to lead the next generation of community banking with a talented and dedicated leadership team.”

The current chairpersons of each bank’s board of directors — Jeffrey Grandchamp of Adams Community Bank and John Martin of Pittsfield Cooperative Bank — will serve as co-chairs of the new bank’s governing board.

A new name and branding are “being developed to honor the values, history, and distinct contributions of both organizations,” the two banks said in their news release.

In the release, Hughes said the agreement “reflects the shared values that have guided both our banks for generations and the trust our customers place in us every day. Our employees will play a critical role in bringing these two organizations together, serving as stewards of our mission and ambassadors in the communities we call home."

Adams Community Bank, at right, is merging with Pittsfield Cooperative Bank, creating a county-wide bank with $1.5 bullion in assets and 200 employees.

To make the merger happen, there’s work to do. In the release, Levante said the next phase of the agreement “focuses on expanding our infrastructure, moving to a new headquarters, aligning our products, and transitioning to a single core system so we can operate more efficiently and support our customers and communities well into the future."

“As we move forward, our focus is on building a unified organization that honors our legacies while expanding our ability to serve our customers and communities,” Hughes said.

Pittsfield Cooperative Bank announced an agreement to purchase 99 West St., in February, and has since completed the purchase at a price of $1,485,000, the bank said. The 57,224-square-foot building was built in 1972 and was first occupied by the former First Agricultural Bank. TD Banknorth closed its branch there in January.

Adams Community Bank came to be in 2012, following a merger of South Adams Savings Bank, founded in 1869, and Adams Co-Operative Bank. Adams Community Bank later acquired Lenox National Bank in 2015.

Pittsfield Cooperative Bank was founded in 1889 and its main office is on South Street in Pittsfield. The bank operates branches on Dalton Avenue and Williams Street in Pittsfield, as well as branches in Dalton and Great Barrington and an ATM in Hinsdale. The bank named Levante as president in July 2025.