BOSTON — Berkshire Hills Bancorp, Inc. (NYSE: BHLB) — parent company of Berkshire Bank, which has a significant presence in the Mohawk Valley and Capital Region — announced Wednesday that it has agreed to merge with Brookline Bancorp, Inc. (NASDAQ: BRKL) — parent company of Brookline Bank, Bank Rhode Island, and PCSB Bank
It’s a combination of two Boston–based banks that each operate branches in New York state.
The combined holding company that will be created through what they are calling a merger of equals will be named Beacon Financial Corporation and remain listed on the New York Stock Exchange under a new ticker symbol: BBT.
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The legal name of the combined bank will be Beacon Bank & Trust, but it will be more commonly referred to as Beacon Bank, per the announcement. The merger is expected to be completed in the third quarter of this year, subject to regulatory approvals and normal closing conditions.
While the new name and ticker symbol will be effective upon completion of the merger, clients will continue to be served post-closing under the Berkshire Bank, Brookline Bank, Bank Rhode Island, and PCSB Bank brands operating as divisions of Beacon Bank & Trust.
Over time, clients of the two banking companies will start to see updates such as the new name on statements, in online banking, and at branches as the combined bank prepares for a full transition to the Beacon Bank brand — along with integration of banking systems in the first quarter of 2026.
Berkshire Hills Bancorp has $12 billion in assets and operates 83 branches in New England and New York state.
Brookline Bancorp is a bank holding company with $11.6 billion in assets and branch locations in Massachusetts, Rhode Island, and the lower Hudson Valley of New York.
