Due to the planned retirement of the bank’s longtime President & CEO Charlie O’Brien, S&W has been retained by Adams Community Bank (“ACB,” www.adamscommunity.com) to manage the search and selection process for its next chief executive.
Headquartered in Berkshire County, MA, Adams Community Bank is the “Premier Community Bank of the Berkshires.” With roots dating back to 1869, ACB is a mutual community bank formed through the merger of South Adams Community Bank and Adams Cooperative Bank in 2012 and the acquisition of Lenox National Bank in 2015. ACB prides itself on the bank’s culture, which at its core is a steadfast dedication to serving the needs of the communities of the Berkshires, its customers, and its loyal employees. ACB provides traditional business and personal banking products and services to individuals, households, and businesses throughout Berkshire County, operating 10 branches in Adams (2), Cheshire, Great Barrington, Lanesboro, Lee, Lenox, North Adams, Pittsfield, and Williamstown. The board and management operate with a consistent and transparent long-term vision of success which includes remaining a mutual bank.
ACB has approximately $1B in total bank assets and maintains a rock-solid balance sheet, notably strong capital and asset quality. For the period ending 9/30/23, the bank reported an ROA of .62%, efficiency ratio of 68.57%, noncurrent loans to loans of .40% and core capital of 9.63%. In 2023, the bank earned #1 market share in Berkshire County for residential loan production, as well as #1 market share for commercial loan production. For the same reporting period the bank had an approximately $810MM loan portfolio, of which $789MM is secured by real estate (including $692MM in 1-4 family residential). Additionally, in 2023, the bank ranked #3 market share in Berkshire County for deposits. ACB is regulated by the FDIC and Massachusetts Division of Banks.
The President & CEO of Adams Community Bank will serve as the bank’s Chief Executive Officer and a member of the Board of Directors. This person formulates, implements, and manages the bank’s overall corporate strategies and policies and provides leadership for all departments. We are seeking exceptional banking talent with demonstrated leadership experience and a vision for the future growth of this community-centric bank. For additional information about this unique mutual bank CEO role, please contact a member of the S&W search team: Cameron Boyd, Managing Partner (cboyd@smithandwilkinson.com) or Moriah Maron, Consultant (mmaron@smithandwilkinson.com).