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Berkshire Hills Bancorp, Brookline Bank Forge All-Stock Merger
Berkshire Hills Bancorp and Brookline Bank, both headquartered in the Boston area, said Monday they had agreed to an all-stock merger valued at $1.1 billion. The combined bank will have $24 billion in assets and 148 branches.
The name and stock ticker of the combined company will be revealed before the close of the merger, which is expected to occur in the second half of 2025. The combined company will be headquartered at 131 Clarendon St. in Boston, with operations centers located throughout the Northeast.
Paul A. Perrault, chairman and CEO of Brookline, said, “This transaction presents an opportunity to bring together two historic franchises in the Northeast market. By bringing together two complementary cultures and geographic footprints with shared values and client focus, we will be better positioned to serve our customers, employees, communities and shareholders.” Perrault will serve as president and CEO of the combined company.
- ◦Sale/Acquisition
