BOSTON – Berkshire Hills Bancorp Inc. and Brookline Bancorp Inc. announced that their planned merger will create a new holding company called Beacon Financial Corp., which will trade on the New York Stock Exchange under the ticker symbol BBT.
Brookline Bancorp Inc. is the parent company of several regional banks, including Brookline Bank, Bank Rhode Island, PCSB Bank and their subsidiaries, and Berkshire Hills is the parent company of Berkshire Bank.
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The combined bank will operate under the legal name of Beacon Bank & Trust, though it will commonly be known as Beacon Bank, the two financial institutions said. The merger is expected to close in the third quarter of 2025, pending regulatory approval and other customary conditions.
The name Beacon Bank was chosen to reflect the combined organization’s shared vision, symbolizing guidance, strength and a promise of stability – values that both institutions said they have upheld for generations.
Meanwhile, the new Beacon Bank logo combines elements of the Berkshire and Brookline brands into a stylized “B,” using updated navy and gold tones drawn from each bank’s legacy colors. The name and logo were unanimously approved by both boards of directors.
“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,” said Paul A. Perrault, chairman and CEO of Brookline Bancorp who will serve as CEO of the combined company.
David M. Brunelle, chairperson of Berkshire Hills Bancorp and who will continue to serve as board chair for the combined company, said the new name “honors the legacy of Berkshire and Brookline while looking toward a bright and ambitious future.
“While the name is changing, we remain dedicated to offering trusted financial solutions and local expertise,” Brunelle said. “We look forward to our new company delivering the enhanced capabilities that come from the combined institution’s scale and operational strength.”
The new name and ticker symbol will take effect once the merger is complete. Until then, customers will continue to use their existing banks – Berkshire Bank, Brookline Bank, Bank Rhode Island and PCSB Bank – which will operate as divisions of Beacon Bank & Trust after the deal closes.
Customers will start to see changes such as the new name appearing on statements, online banking and at branches as the banks move toward a full transition to the Beacon Bank brand.
System integration is expected in early 2026.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
