Sarepta to Replace Brookline Bancorp in S&P 600

Berkshire Hills Bancorp is acquiring Brookline Bancorp in a deal expected to be completed soon. Post-merger, Berkshire Hills Bancorp will remain in the S&P SmallCap 600 with a name and ticker change to Beacon Financial. The deal is pending final closing conditions.

Berkshire Hills Bancorp, Inc. and Brookline Bancorp, Inc. have received all necessary regulatory approvals to proceed with their proposed merger of equals, aiming to form Beacon Financial Corporation. The merger, expected to close by September 1, 2025, is subject to customary closing conditions [1].

The regulatory approval process included approvals 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. Stockholders of both companies approved the merger at their respective meetings on May 21, 2025 [1].

Upon closing, the combined company will have $24 billion in assets and operate as a regional banking franchise with over 145 branch offices serving the Northeast. The new entity will be named Beacon Financial Corporation and its common shares will trade on the NYSE under the symbol "BBT" [1].

Clients of Berkshire Bank, Brookline Bank, Bank Rhode Island, and PCSB Bank will continue to be served through their respective branches until the full transition to the Beacon Bank brand in 2026. This transition will include updates to statements, online banking, and branch branding [1].

The merger is expected to create operational efficiencies and strengthen the combined company's ability to serve clients, employees, stockholders, and communities. Paul A. Perrault, Chairman and CEO of Brookline, who will serve as CEO of the combined company, stated, "We’re pleased to have received all regulatory approvals as scheduled to bring together two strong organizations" [1].

David M. Brunelle, Chairperson of Berkshire, who will continue to serve as Chairperson of the Board for the combined company, added, "The scale, efficiency and operational strength created by the combined company will allow us to better serve our clients, employees, stockholders and communities" [1].

References:
[1] https://www.brooklinebancorp.com/news-events/press-releases/news-details/2025/Berkshire-Hills-Bancorp-and-Brookline-Bancorp-Receive-Regulatory-Approvals-for-Merger-of-Equals-to-form-Beacon-Financial-Corporation/default.aspx