|Berkshire Bank Names President of First Choice Loan Services|
|01:30PM / Friday, February 17, 2017|
PITTSFIELD, Mass. — Berkshire Bank has announced the appointment of Allan Costello as president of its wholly-owned subsidiary First Choice Loan Services, a best-in-class mortgage banking business originating loans across a national platform.
As president, Costello will work with the current leadership team of First Choice Loan Services including Senior Executive Vice President and Chief Operating Officer Norman T. Koenigsberg and Executive Vice President and Chief Financial Officer Ralph Picarillo in developing strategic initiatives.
With this new position, Costello will be instrumental in setting corporate policies and procedures for this subsidiary consistent with the strong 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, and support its current leadership in driving Berkshire to new heights in performance and regulatory compliance.
Costello brings a strong understanding of governance and compliance requirements with over 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, Costello's career was focused in 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.
Costello holds a bachelors of business administration-accounting from Siena College and graduated from the American Bankers Association-Graduate School of Banking. Costello is a Certified Internal Auditor and Certified Fraud Examiner.