ROME, N.Y. (WKTV) - It's been Rome Savings Bank since 1851, but now, that's about to change.
Rome Savings has entered into an agreement whereas they will merge with, and into, Berkshire Bancorp., Inc. The two entered into the agreement October 12, but it's subject to closing conditions and regulatory approvals by shareholders and isn't expected to be completed until the first quarter of 2011.
Rome Chamber of Commerce officials hope to speak with officials at Berkshire soon.
"It does make a difference when you call upon a business and you're talking to the owner, the person who can make the decision as far as whether they're going to participate in a particular program so when there is out of town ownership certainly it is a concern but we address it and we work with it," says Rome Area Chamber of Commerce President Bill Guglielmo.
Fedelina Madrid, Vice President of Marketing and Public Relations for Berkshire Bancorp., Inc., says the name will change to Berkshire Bank. Madrid also says the bank's commitment to and partnership with the community will continue; Rome Savings Bank contributed money annually to various causes in Rome, perhaps most notably Honor America Days.
As far as jobs and job loss are concerned, a human resources official with Berkshire Bancorp says any changes regarding customer-facing roles in the branches would be minimal.