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Berkshire Bank Taps Allan Costello to Lead First Choice Loan Services

PITTSFIELD — Berkshire Bank announced the appointment of Allan Costello as president of its wholly owned subsidiary First Choice Loan Services Inc., a mortgage-banking business originating loans across a national platform.

As president, Costello will work with the current leadership team at First Choice Loan Services, including Senior Executive Vice President and Chief Operating Officer Norman Koenigsberg and Executive Vice President and Chief Financial Officer Ralph Picarillo, in developing strategic initiatives. Costello will be instrumental in setting corporate policies and procedures for this subsidiary consistent with the compliance culture at Berkshire Bank. In addition, he will continue to serve as executive vice president for the bank’s Home Lending Division, leading its sales and operations functions including loan origination, underwriting, compliance, processing, and servicing.

Costello has been integral to developing the growth, improved operational efficiencies, and strong mortgage oversight and governance of Berkshire Bank Home Lending. In his new role, he will execute on First Choice Loan Services’ strategic vision and cultural integration as part of Berkshire Bank.

Costello brings more than 30 years of experience in auditing, risk management, compliance, accounting, operations, and banking. He joined Berkshire Bank in 2011 and held the position of senior vice president, Audit before transitioning to the Home Lending Division. Prior to Berkshire Bank, his career was focused on the auditing and financial fields, including director at Accume Partners, divisional vice president of Bank Protection at Charter One Bank, and chief financial officer at Rhinebeck Savings Bank.

“Since opening its doors in 2009, First Choice Loan Services has evolved into an extremely well-respected and nationally recognized leader in the mortgage industry,” Costello said. “I’m excited to join Norman, Ralph, and the rest of their outstanding leadership team and continue to build on their tremendous success.”

Costello holds a bachelor’s of business administration degree in accounting from Siena College and graduated from the American Bankers Assoc. Graduate School of Banking. He is a certified internal auditor and certified fraud examiner.

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