Berkshire Hills Bancorp, the parent company of Berkshire Bank, and Brookline Bancorp, the parent company of Brookline Bank, Bank Rhode Island and PCSB Bank, will combine in a merger of equals. The holding company created through this merger will be named Beacon Financial Corporation and remain listed on the New York Stock Exchange under a new ticker symbol BBT.
The merger is expected to be completed in Q3/25, subject to regulatory approvals and normal closing conditions.
“Our merger of equals will create a powerful financial institution with deep local roots, a broad, complementary footprint and a strong commitment to its employees, clients, stockholders and communities,” Paul A. Perrault, chairman and CEO of Brookline Bancorp, who will serve as CEO of the combined company, said. “The Beacon Bank name reflects our desire to be a reliable guide in financial decision-making, helping clients reach their goals with clarity, confidence and trust.”
“Our new name honors the legacy of Berkshire and Brookline while looking toward a bright and ambitious future,” David M. Brunelle, chairperson of Berkshire Hills Bancorp, who will continue to serve as chairperson of the board for the combined company, said. “While the name is changing, we remain dedicated to offering trusted financial solutions and local expertise. We look forward to our new company delivering the enhanced capabilities that come from the combined institution’s scale and operational strength.”
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. Over time, clients will begin 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 Q1/26.
