What Lee Bank does

Lee Bank is an independent mutual savings bank founded in 1852 and headquartered in Lee, Massachusetts, serving Berkshire County through five branches (Lee, Great Barrington, Stockbridge, Pittsfield, Lenox). The bank operates as a depositor-owned institution with no external shareholders, governed by a board of trustees under holding company Berkshire Financial Services. It serves individual consumers, small-to-mid-size businesses, nonprofits, municipalities, and wealth management clients with a full-service product suite spanning consumer checking and savings (EMPOWER Rewards, Kasasa Cash/Cash Back, Basic, money market, CDs, IRAs, HSAs), consumer lending (home mortgages, HELOCs, construction, auto, personal loans), business banking (checking, savings, merchant services, remote deposit capture, ACH/wire), and business lending (Small Business Digital Loans up to $250K term and $150K lines of credit, SBA, microloans, commercial mortgages, business term loans, lines of credit), plus trust and wealth management through the October Mountain Financial Advisors alliance with St. Germain Investment Management.

Lee Bank's technology stack is largely vendor-provided: mobile and online banking run on TouchBanking powered by Fiserv, with Zelle for P2P payments, Apple Pay and Google Pay wallet integration, Kasasa for rewards checking products, and in-house video banking for personalized support. Security relies on SSL encryption, multifactor authentication with device fingerprinting, and firewall infrastructure; the website holds WCAG 2.2 Level AA accessibility certification and deposits are FDIC-insured. Distribution combines five physical branches, scheduled appointments for commercial and fiduciary services, video banking, online and mobile self-service, and an online application channel for small business digital loans. Marketing leans on community sponsorships, social media, financial education content, and earned media, reinforced by 10 consecutive Best Place to Work awards (2016-2025) and 5 consecutive Best Bank in the Berkshires awards (2021-2025).

Revenue is generated through traditional community-banking streams: net interest income from the consumer and commercial lending portfolios, deposit account fees, and fee-based trust and wealth management services. The bank has no public revenue disclosure and no external equity ownership; community reinvestment is formalized through the Lee Bank Foundation established in 2021, which has distributed 218 grants totaling over $1.09 million to Berkshire County nonprofits. Recent strategic activity centers on the 2023 Pittsfield branch opening, a 2024 commercial lending succession, ongoing senior team expansion in commercial lending and trust services through 2025-2026, and digital strategy reinforcement through a dedicated VP of Electronic Banking.

Name

Lee Bank

Legal name

Lee Bank

Website

https://leebank.com

Company type

Private

Founded year

1852

Operating status

Operating

Headcount range

101–250 employees

Short description

Lee Bank is a 170-year-old independent mutual savings bank headquartered in Lee, Massachusetts, serving Berkshire County consumers, small-to-mid-size businesses, nonprofits, municipalities, and wealth management clients through five branches and a full personal, commercial, and trust banking suite.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Depository Credit Intermediation (5221), Portfolio Management and Investment Advice (523940)

SIC

Savings Institutions, Not Federally Chartered (6036), State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industry

Account & Balance Services (Operating accounts, statements, eBAM) (FSABAIAD)

Keywords

• Community banking
• Retail banking services
• Commercial lending
• Mortgage loans
• Wealth management

Headquarters

HQ city

Lee

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income from Lending: Traditional banking revenue generated from interest on mortgage loans (home mortgages, HELOCs, construction loans), personal loans, auto loans, business lending (SBA loans, commercial mortgages, business term loans, lines of credit, small business digital loans, microloans), and credit cards.
2. Deposit Account Fees and Services: Revenue from checking and savings account maintenance, overdraft fees, wire transfer fees, ACH services, merchant services, remote deposit capture, and related banking services.
3. Trust and Wealth Management: Revenue from trust services, estate administration, and investment management through strategic alliance with October Mountain Financial Advisors.
4. Foundations and Community Grants: Lee Bank Foundation distributes grants to local nonprofits but does not directly generate revenue from this. Represents community reinvestment rather than revenue generation.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

Lee Bank is a mutual savings bank offering deposit accounts (checking, savings, money market, CDs, IRAs, HSAs), consumer lending (mortgages, HELOCs, construction, auto, personal loans), commercial banking services (business checking, lending, merchant services, remote deposit, ACH/wires), and trust and wealth management through an alliance with October Mountain Financial Advisors. Operates across five branch locations in Berkshire County, Massachusetts complemented by online, mobile, and video banking channels.

Product overview

Lee Bank is a community-focused bank offering a comprehensive suite of personal and business banking products and services. The bank's personal banking includes multiple checking account options (EMPOWER Rewards Checking, Kasasa Cash, Kasasa Cash Back, Basic Checking) and savings products (EMPOWER Rewards Savings, Kasasa Saver, Personal Savings, Prime Money Market, CDs, IRAs, HSAs). Lending offerings span home mortgages, HELOCs, construction loans, auto loans, and personal loans. For businesses, Lee Bank provides various checking and savings accounts, commercial lending (Small Business Digital Loans, SBA Loans, Microloans, Commercial Mortgages, Business Term Loans, Lines of Credit), and business services (Online/Mobile Banking, Remote Deposit Capture, Merchant Services, Wire Services, ACH). Digital services include Online & Mobile Banking, Video Banking, Financial Calculators, and Financial Empowerment Videos. Trust and Financial Planning services include trust administration, estate planning, and investment management through the October Mountain Financial Advisors alliance. The bank also operates the Lee Bank Foundation for community philanthropy.

Differentiator

Problem solved

Functional benefit

Products and services

• EMPOWER Rewards Checking Rewards checking account that earns interest and rewards when qualifications are met, including debit purchases and direct deposits. For personal banking customers seeking rewarded everyday banking.
• Free Kasasa Cash Checking
• Free Kasasa Cash Back Checking
• Basic Checking
• EMPOWER Rewards Savings
• Free Kasasa Saver
• Personal Savings

Quantifiable outcome

• 218 grants totaling over $1.09 million distributed to Berkshire County nonprofits since 2021
• +4 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability1 record

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• October Mountain Financial AdvisorscoreStrategic or Co-development PartnerLee Bank maintains a longstanding strategic alliance with October Mountain Financial Advisors (a d/b/a of St. Germain Investment Management) providing integrated investment management services. This partnership enables coordinated financial planning, trust administration, and investment management services for shared clients. October Mountain Financial Advisors serves as investment advisor providing portfolio management while Lee Bank coordinates fiduciary and banking considerations. Office located at South Street in Pittsfield.
• St. Germain Investment ManagementcoreStrategic or Co-development PartnerParent company of October Mountain Financial Advisors. Provides professional investment management services as part of integrated financial relationships with Lee Bank clients. Registered investment advisor with deep roots in the Berkshires.
• GreenagersminorStrategic or Co-development PartnerCommunity partnership for sustainable urban development. Greenagers, a local nonprofit engaging teens and young adults in environmental conservation, partnered with Lee Bank to install and maintain community garden beds at the bank's Pittsfield South Street location. Provides garden space for bank tenants and Volunteers in Medicine.
• Volunteers in Medicine (VIM)minorStrategic or Co-development PartnerHealthcare nonprofit utilizing community garden space at Lee Bank's Pittsfield location. VIM patients benefit from garden plots to grow vegetables and flowers, supporting mental and physical health through nature engagement.
• TouchBanking (Fiserv)coreTechnology or IntegrationTechnology provider powering Lee Bank's mobile banking app and digital services. TouchBanking, powered by Fiserv, enables customers to manage finances on the go with features including balance viewing, transfers, bill pay, mobile check deposit, and Zelle payments.

Scale indicators6 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Pittsfield Cooperative Bank: Cooperative community bank based in Pittsfield, MA, with similar full-service personal and business banking focus targeting Berkshire County customers — direct overlap on deposit gathering and small business lending.
• Berkshire Hills Bancorp (Berkshire Bank): Largest community bank competitor headquartered in Pittsfield, MA, serving the same Berkshire County geography with overlapping consumer, mortgage, and commercial lending products. Direct head-to-head competitor for deposit and loan share.
• Salisbury Bancorp (now NBT Bank): Former small community bank in the Berkshires/Connecticut region acquired by NBT — provides a useful template for Lee Bank's scale, mutual-style community banking model, and recent M&A precedent.
• Greylock Federal Credit Union: Largest credit union in Berkshire County, offering competing consumer checking, mortgage, and business banking products to overlapping members/customers in the same geography.
• MountainOne Bank: Massachusetts community bank serving the Berkshires and South Shore with comparable deposit, mortgage, commercial lending, and wealth management offerings — closest larger-scale peer in adjacent geography.
• Adams Community Bank: Massachusetts-chartered community bank headquartered in Adams, MA — northern Berkshire County. Closely comparable in scale, mutual/community orientation, and product mix to Lee Bank.

Broad incumbents

• Rockland Trust (INDB): Massachusetts-headquartered regional bank with comparable consumer and small business banking products across MA, including Berkshires. Larger incumbent competing for the same customer segments.
• Eastern Bankshares (Cambridge Bancorp): Massachusetts-based community-oriented bank formed from Eastern Bank and Cambridge Bancorp merger — offers integrated banking and wealth management across MA, overlapping Lee Bank's customer type.
• Washington Trust Company: Largest community bank in New England, offering similar wealth management, commercial, and retail banking products with overlapping trust services — useful comparable for the integrated banking + wealth strategy.

Emerging players

• Trustco Bank: New York/New England community bank with a comparable low-cost, high-deposit business model and small-business/consumer lending focus — useful peer for evaluating operating efficiency at Lee Bank's scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/LeeBankMA
• LinkedInlinkedin.com/company/lee-bank
• Instagraminstagram.com/lee_bank_ma

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles23 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lee Bank