Brookline Bancorp Inc. merger information released by Nasdaq

Brookline Bancorp Inc. merger information released by Nasdaq

BOSTON, Aug. 25, 2025 (GLOBE NEWSWIRE) — Berkshire Hills Bancorp, Inc. (BHLB) and Brookline Bancorp, Inc. (BRKL) have received all required regulatory approvals for their proposed merger of equals, paving the way for the formation of Beacon Financial Corporation. The merger is expected to close on September 1, 2025, subject to customary closing conditions [2].

The merger, initially announced in December 2024, will combine Berkshire Bank, Brookline Bank, Bank Rhode Island, and PCSB Bank under the new entity, Beacon Financial Corporation. The combined company will have approximately $24 billion in assets and operate more than 145 branch offices, serving the Northeast region [2].

Key regulatory approvals include those from the Board of Governors of the Federal Reserve System, the Massachusetts Division of Banks, the New York State Department of Financial Services, and the Rhode Island Department of Business Regulation [2]. Both companies have also secured shareholder approval for the merger [2].

Paul A. Perrault, Chairman and CEO of Brookline Bancorp, stated, "We're pleased to have received all regulatory approvals as scheduled to bring together two strong organizations. Following months of collaboration between the Berkshire and Brookline teams, we are prepared for a successful integration and to realize the full potential of this combination" [2]. David M. Brunelle, Chairperson of Berkshire Hills Bancorp, added, "The scale, efficiency, and operational strength created by the combined company will allow us to better serve our clients, employees, stockholders, and communities" [2].

Upon closing, Beacon Financial Corporation will trade on the NYSE under the symbol "BBT". Clients will continue to be served through their respective branches, websites, and mobile apps under the Beacon Bank & Trust brand until the full transition in 2026 [2].

The merger is expected to bring together two established regional banking franchises, enhancing their combined service offerings and operational efficiencies. The integration process will focus on streamlining operations and leveraging the strengths of both organizations to better serve their clients and communities [2].

References:
[1] https://www.nasdaq.com/articles/berkshire-hills-bancorp-brookline-bancorp-merger-receives-all-regulatory-approvals
[2] https://www.globenewswire.com/news-release/2025/08/25/3138852/0/en/Berkshire-Hills-Bancorp-and-Brookline-Bancorp-Receive-Regulatory-Approvals-for-Merger-of-Equals-to-form-Beacon-Financial-Corporation.html