Boston-based Berkshire Bank has filed a notice with the Connecticut Department of Banking to close three of its branches in the Nutmeg State.
The three branches are in Killingly, Hartford and Tolland.
Berkshire CEO Nitin Mhatre said in the bank’s third quarter 2023 earnings call that closures were anticipated in 2024, but did not name the locations.
The closures are part of the bank’s three-year restructuring plan, which shifts the focus from stationary bank branches to going where the customers are.
“We are constantly looking at customer foot traffic and servicing patterns and where you could actually serve clients better,” Mhatre said in the earnings call last year. “We have channels like My Banker that are unique to us, whereby we go to the client as opposed to clients having to come to the branch. … We do believe based on what we see that there is an opportunity for further consolidation.”