MountainOne held its 176th Annual Meeting on April 7, 2025, bringing together Corporators, Trustees, Officers, Employees, and Community Partners to reflect on another successful year, and set the stage for continued momentum in 2025.
The meeting began with a welcome from Board of Trustees Chair Daniel Bosley, followed by financial highlights shared by Steve Owens, Executive Vice President, Chief Financial Officer, Chief Operating Officer, and Chief Information Officer. Owens reported that MountainOne ended 2024 ahead of budget, with financial results that surpassed many local and national peers. While elevated interest rates and an inverted yield curve presented challenges across the industry, MountainOne remained resilient, bolstered by strong non-interest income, continued loan growth, and disciplined expense management. Owens highlighted MountainOne’s significant investment in its people, operations, and communities. Charitable giving more than doubled in 2024, with multi-year commitments to organizations like MCLA and Mass MoCA underscoring MountainOne’s commitment to the region.
Jonathan Denmark, Executive Vice President of MountainOne Bank and President and Chief Operating Officer of MountainOne Insurance, highlighted another year of expansion and strategic investment for the insurance division. In 2024, MountainOne Insurance completed acquisitions of G.W. Morisi Insurance Agency and McClure Insurance Agency, expanding its presence to the Pioneer Valley. Denmark also spoke to a challenging but stabilizing insurance environment, noting volatility in the home and auto market while expressing optimism for what’s to come.
Jill Amato, Senior Vice President, Marketing and Community Banking Officer, shared updates on the evolution of MountainOne’s award-winning brand campaign, which earned eight industry awards in 2024 alone. Amato also announced the release of “Something to Save,” the second in a series of children’s storybooks featuring Mo the MountainOne Spokesgoat. The storybook series is aimed at promoting early financial literacy and life skills. Storybook events and classroom visits featuring “Something to Save” as well as the first book of the series, “How to Climb a Mountain,” are planned for spring 2025 across the Berkshires and South Shore.
Robert Fraser, President and CEO of MountainOne, provided the annual CEO address, which included an update on the proposed Mutual Holding Company merger between MountainOne Financial, MHC, and Mechanics Bancorp, MHC. The merger of equals will bring together two strong, like-minded community institutions. Fraser shared the combined holding company structure, key benefits and provisions, emphasizing the company’s commitment to mutuality. The merger is slated for a Corporator vote in May, followed by a regulatory review later in the year.
Fraser concluded the meeting by recognizing Mountaineers celebrating promotions, milestone anniversaries, and those who have graduated from MountainOne’s Emerging Leaders Program, underscoring the company’s commitment to professional development and internal growth.
About MountainOne
Headquartered in North Adams, MA, MountainOne is the mutual holding company of MountainOne Bank and offers a full range of financial services through MountainOne Bank, MountainOne Insurance, and MountainOne Investments.
MountainOne Bank (mountainone.com),founded in 1848 and headquartered at 93 Main Street in North Adams, offers deposit and lending products and services for individuals and businesses. Full-service offices are located in the Berkshires (North Adams, Pittsfield, Williamstown) and Boston’s South Shore (Rockland, Quincy, Scituate). Member FDIC, Member DIF, Equal Housing Lender.
MountainOne Insurance (mountainone.com/insurance), a subsidiary of MountainOne Bank, offers a wide range of insurance solutions, including personal and business property and casualty insurance, surety bonding, employee benefits, and life and Medicare coverage. Offices are located in the Berkshires (North Adams, Pittsfield, Stockbridge, Williamstown) and the Pioneer Valley (Longmeadow, West Springfield, Wilbraham).
MountainOne Investments (mountainone.com/investments), a division of MountainOne Bank, and its financial advisors offer securities and advisory services through Commonwealth Financial Network®, member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services are offered through CES Insurance Agency or MountainOne Investments. MountainOne Bank is not a registered broker-dealer or Registered Investment Adviser. MountainOne Bank and MountainOne Insurance are not affiliated with Commonwealth. MountainOne Investments’ main office is at 85 Main Street, Suite 100, North Adams, MA 01247. (413) 664-4025
Insurance and Investments are not insured by the FDIC and are not deposits or obligations of, or guaranteed by, any depository institution. Funds are subject to investment risks, including possible loss of principal investment.