PROVIDENCE – Beacon Financial Corp. on Monday announced that its four acquired banks are now fully operating under the Beacon Bank brand, creating one of the 100 largest banks in the U.S.
The bank now operates more than 145 branches and commercial centers across Rhode Island, Massachusetts, Connecticut, Vermont and New York.
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Transitioning all locations was the final step in the merger of equals between Berkshire Hills Bancorp, the former parent of Berkshire Bank, and Brookline Bancorp Inc., the former parent of Brookline Bank, Bank Rhode Island and PCSB Bank.
Bank Rhode Island, also known as BankRI, began using the Beacon Bank branding on Feb. 9, and the remaining three banks have now completed the transition.
The rebranding is one of the largest multibank projects in the Northeast in the last 15 years.
“Launching Beacon Bank represents a significant achievement for our organization and a critical step forward in our long-term strategy,” said Paul A. Perrault, CEO of Beacon Financial Corp. “By uniting our banks, we are enhancing the experience we deliver to clients and positioning the company to generate sustainable value for our stockholders through improved performance, better efficiency and expanded opportunities for growth. This step also deepens our ability to invest in our colleagues and communities across our regions.”
Beacon Bank said the consolidation combines nearly 200 years of financial experience with local operations, allowing the bank to make decisions closer to its communities.
Clients will continue to work with familiar staff while gaining access to a larger branch and ATM network, expanded lending capacity, and an upgraded online and mobile banking platform through BeaconBank.com.
The bank offers commercial, cash management, asset-based lending, retail and consumer banking, residential products and wealth management services.
Additional elements of the bank’s corporate identity will roll out in the coming months as part of a multiphase branding update at all locations, the bank said.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
