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MountainOne Announces Results of its 174th Annual Business Meeting

Bob Fraser at Annual Mtg
Pictured: MountainOne President & CEO Robert Fraser speaking at the MountainOne Annual Meeting

NORTH ADAMS, MA – MountainOne held its 174th Annual Meeting on April 10, 2023 at The NORAD Mill. Executive leaders Robert Fraser, President & CEO, MountainOne, Jonathan Denmark, President & COO, MountainOne Insurance, and Steve Owens, EVP, CFO, COO & CIO, MountainOne, presented the results of MountainOne’s latest Annual Report to Corporators, Trustees, Officers, Employees, and Community Partners—many of which are also Customers.

Daniel Bosley, Trustee/Chair of MountainOne Financial, MHC kicked off the annual business meeting by presenting the nominating committee report, which included newly-elected and re-elected Corporators, Trustees, and Officers. Among the newest Trustees were David R. Moresi, a native of North Adams MA and serial entrepreneur/founder/CEO of real estate firm Moresi & Associates; and Michael J. Gardner Jr., a second generation leader of Braintree-based companies Super Shine Auto Wash and Castle Self-Storage.

Newly-elected Corporators were: Adam Bauer of The Business Exchange, James Bunnell of the Boys and Girls Club of Marshfield, Jonathan Denmark of MountainOne Insurance, Christopher Ernest of Pzerski Hatch & Company, Kaitlyn Litchfield of Kaitlyn Litchfield Photography, Robert & Elizabeth McGraw of Berkshire County, Andrea Pyke of Friendship Home, Mark Stiles of Stiles Law, and Richard Alcombright—the former Mayor of North Adams, Massachusetts.

Robert Fraser, President & CEO, briefly touched upon MountainOne’s 2022 highlights during his President’s Remarks, while emphasizing MountainOne’s overall financial strength, as it was the “best year financially in our history.” Fraser provided updates on the new Strategic Technology Plan, recognized several employee promotions and milestones, and reaffirmed MountainOne’s commitment to the community—a large aspect of what makes us a successful institution.

Steve Owens, Executive Vice President, CFO, COO & CIO, proudly announced MountainOne’s earnings, which were just over $12 million for 2022, up from $10 million in 2021. Owens also noted the strength of MountainOne’s balance sheet, highlighting how asset quality remains strong, and capital levels are robust.

Jonathan Denmark, President & COO of MountainOne Insurance, gave an insightful look at the state of the economy, and its overall impact on the insurance market, while also noting the Insurance division’s successful acquisition of the Cross Insurance operations in Pittsfield, MA.

Finally, keynote speaker Jennifer Harrington, CEO & Founder of Hatch the Agency, presented a behind-the-scenes look at the formation of MountainOne’s beloved Spokesgoat, Mo. Harrington played an interactive video clip for the audience, which detailed MountainOne’s partnership with Hatch, and included quotes from Mountaineers about why they love Mo and how he represents our fun brand culture. One memorable moment from the video clip was the witty ‘how it started versus how it’s going’ meme, which visually represented the successful brand evolution of Mo.

ABOUT MOUNTAINONE

MountainOne is a mutual holding company headquartered in North Adams, MA. Founded in 1848, MountainOne Bank provides a complete array of personal and business banking and electronic services. MountainOne Bank is Member FDIC and Member DIF. MountainOne Insurance provides personal and business insurance, bonding services, and group benefits solutions.

MountainOne Investments offers securities and advisory services through Commonwealth Financial Network®, member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES or MountainOne Insurance. MountainOne Investments and MountainOne Bank are not a registered broker-dealer or Registered Investment Adviser. MountainOne Bank and Commonwealth are separate and unaffiliated entities.

Products and services are offered at full-service offices in the Berkshires (Pittsfield, North Adams, Williamstown) and on Boston’s South Shore (Quincy, Rockland, Scituate). MountainOne Investments’ main office is located at 85 Main Street, Suite 100, North Adams, MA 01247.

Insurance and Investments are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository institution. Funds are subject to investment risks, including possible loss of principal investment.

SCHEDULED MAINTENANCE: Digital Banking may be unavailable on Sunday, May 19, between 12:00am–4:00am for routine system maintenance. Please submit any transactions before or after this timeframe. Thank you!

HOLIDAY NOTICE: In observance of Memorial Day, all MountainOne offices will be closed Monday, May 27. As always, our Digital Banking services are available 24 hours a day.