BOSTON – Berkshire Hills Bancorp Inc., the parent company of Berkshire Bank, and Brookline Bancorp Inc., the parent company of Brookline Bank, Bank Rhode Island and PCSB Bank, announced on Aug. 25 they have received all required regulatory approvals to complete their proposed merger of equals, clearing the way for the launch of a new combined entity that will be known as Beacon Financial Corp.
Regulatory clearance came from the Federal Reserve Board, along with banking regulators in Massachusetts, Rhode Island and New York.
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Shareholders of both Berkshire and Brookline previously approved the necessary merger proposals during meetings held on May 21.
“We’re pleased to have received all regulatory approvals as scheduled to bring together two strong organizations,” said Brookline Chairman and CEO Paul A. Perrault, who will serve as CEO of Beacon Financial. “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.”
Beacon Financial will serve as the new parent company of the Berkshire Bank, Brookline Bank, Bank Rhode Island and PCSB Bank branches. In the meantime, clients will continue to be served through their respective bank branches, websites, mobile apps, financial advisers and relationship managers operating as divisions of Beacon Bank & Trust, commonly known as Beacon Bank.
Over time, clients will begin to see updates such as the new Beacon Bank name on statements, in online banking and at branches as Beacon Financial prepares for a full transition to the Beacon Bank brand for its subsidiary bank branches, along with the integration of banking systems, in the first quarter of 2026.
Upon closing, Beacon Financial will become a $24 billion regional banking franchise serving the Northeast with more than 145 branch offices.
The parent companies said in an Aug. 25 statement that they expect the merger to be completed by Sept. 1, subject to the satisfaction of the remaining customary closing conditions.
“The scale, efficiency and operational strength created by the combined company will allow us to better serve our clients, employees, stockholders and communities,” said Berkshire Chairman David M. Brunelle, who will continue to serve as board chair of Beacon Financial.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
