Berkshire Hills Bancorp, Inc. (BHLB), the parent company of Berkshire Bank, and Brookline Bancorp, Inc. (BRKL), the parent company of Brookline Bank, Bank Rhode Island, and PCSB Bank, announced they have received all required regulatory approvals to complete their proposed merger of equals and become Beacon Financial Corporation.
Berkshire and Brookline expect the merger closing to be completed effective September 1, 2025.
In December 2024, Berkshire Hills Bancorp and Brookline Bancorp, Inc. announced that they entered into a definitive agreement pursuant to which Brookline Bancorp would merge with and into Berkshire Hills in an all-stock transaction valued at approximately $1.1 billion, or $12.68 per share of Brookline common stock, based on the $30.20 closing price of Berkshire common stock on December 13, 2024.
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