Berkshire Bancorp Inc. (fka BERK)

[Penny Roger$]

Berkshire Bancorp Inc. is a bank holding company. The Company’s principal activity is the ownership and management of its indirect wholly owned subsidiary, The Berkshire Bank (the Bank). The Bank is owned through Berkshire's wholly owned subsidiary, Greater American Finance Group, Inc. (GAFG). The Bank's 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 and its agencies, debt obligations of business corporations, and mortgage-backed securities. It operates from seven deposit-taking offices in New York City, four deposit-taking offices in Orange and Sullivan Counties, New York and deposit taking offices in Ridgefield and Teaneck, NJ. The Bank's loan types are residential and commercial mortgage loans and commercial non-mortgage loans, both unsecured and secured by personal property.

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