Brookline Bancorp Inc. anticipated last trading date Aug. 29, Nasdaq says

Brookline Bancorp Inc. anticipated last trading date Aug. 29, Nasdaq says

Berkshire Hills Bancorp and Brookline Bancorp have received regulatory approvals to merge, creating Beacon Financial Corporation. The merger is expected to close on September 1, 2025, pending customary closing conditions. The combined company will have a $24 billion regional banking presence, serving the Northeast with over 145 branch offices [1].

The merger will integrate the operations of Berkshire Bank, Brookline Bank, Bank Rhode Island, and PCSB Bank under the Beacon Financial Corporation banner. Clients will continue to be served through existing bank branches until a full integration is completed in 2026, when the branding will transition to Beacon Bank [2].

Both companies have received support from their stockholders, indicating strong shareholder backing for the merger. The combined entity will operate under the NYSE symbol "BBT." Potential benefits include enhanced operational efficiency and improved customer service. However, the merger's success is subject to numerous risks and uncertainties, including potential delays and integration challenges [2].

The regulatory approval process included approvals from the Board of Governors of the Federal Reserve System, as well as the Massachusetts Division of Banks, New York State Department of Financial Services, and Rhode Island Department of Business Regulation. The merger aims to create a more robust and efficient regional banking entity, better serving clients, employees, stockholders, and communities [1].

References:
[1] https://www.marketscreener.com/news/berkshire-hills-bancorp-and-brookline-bancorp-receive-regulatory-approvals-for-merger-of-equals-to-ce7c50d8dd8df121
[2] https://www.quiverquant.com/news/Berkshire+Hills+Bancorp+and+Brookline+Bancorp+Announce+Receipt+of+Regulatory+Approvals+for+Merger%2C+Set+to+Close+on+September+1%2C+2025