Berkshire Hills Bancorp and Brookline Bancorp to be Combined as Beacon Financial Corporation and Beacon Bank Upon the Closing of their Merger of Equals
Berkshire Hills Bancorp (NYSE: BHLB) and Brookline Bancorp (NASDAQ: BRKL) have announced their merged entity will be named Beacon Financial Corporation, trading under the ticker symbol BBT on NYSE. The combined bank will operate as Beacon Bank & Trust, commonly known as Beacon Bank.
The merger of equals is expected to complete in Q3 2025, with Paul A. Perrault, current Brookline CEO, serving as CEO of the combined company, while David M. Brunelle will continue as Chairperson. Post-merger, existing brands will initially operate as divisions of Beacon Bank, with full integration and rebranding planned for Q1 2026.
Berkshire Hills Bancorp (NYSE: BHLB) e Brookline Bancorp (NASDAQ: BRKL) hanno annunciato che la società risultante dalla loro fusione si chiamerà Beacon Financial Corporation, con il simbolo di borsa BBT sul NYSE. La banca combinata opererà come Beacon Bank & Trust, comunemente conosciuta come Beacon Bank.
La fusione tra pari è prevista per il completamento nel terzo trimestre del 2025, con Paul A. Perrault, attuale CEO di Brookline, che assumerà il ruolo di CEO della nuova società, mentre David M. Brunelle continuerà come Presidente. Dopo la fusione, i marchi esistenti opereranno inizialmente come divisioni di Beacon Bank, con una completa integrazione e rebranding programmati per il primo trimestre del 2026.
Berkshire Hills Bancorp (NYSE: BHLB) y Brookline Bancorp (NASDAQ: BRKL) han anunciado que la entidad resultante de su fusión se llamará Beacon Financial Corporation, cotizando bajo el símbolo BBT en la NYSE. El banco combinado operará como Beacon Bank & Trust, comúnmente conocido como Beacon Bank.
La fusión entre iguales se espera que se complete en el tercer trimestre de 2025, con Paul A. Perrault, actual CEO de Brookline, como director ejecutivo de la empresa combinada, mientras que David M. Brunelle continuará como presidente. Después de la fusión, las marcas existentes operarán inicialmente como divisiones de Beacon Bank, con una integración completa y cambio de marca planeados para el primer trimestre de 2026.
Berkshire Hills Bancorp (NYSE: BHLB)와 Brookline Bancorp (NASDAQ: BRKL)가 합병 후 새 법인의 이름을 Beacon Financial Corporation으로 정하고, NYSE에서 BBT라는 티커 심볼로 거래할 것이라고 발표했습니다. 합병된 은행은 Beacon Bank & Trust로 운영되며, 일반적으로 Beacon Bank로 알려질 예정입니다.
동등한 합병은 2025년 3분기에 완료될 예정이며, 현재 Brookline CEO인 Paul A. Perrault가 합병 법인의 CEO를 맡고, David M. Brunelle은 회장직을 계속 유지합니다. 합병 후 기존 브랜드는 초기에는 Beacon Bank의 부서로 운영되며, 2026년 1분기에 완전한 통합과 리브랜딩이 계획되어 있습니다.
Berkshire Hills Bancorp (NYSE : BHLB) et Brookline Bancorp (NASDAQ : BRKL) ont annoncé que leur entité fusionnée s'appellera Beacon Financial Corporation, cotée sous le symbole BBT à la NYSE. La banque combinée opérera sous le nom de Beacon Bank & Trust, communément appelée Beacon Bank.
La fusion entre égaux devrait être finalisée au 3e trimestre 2025, avec Paul A. Perrault, actuel PDG de Brookline, qui assumera le rôle de PDG de la société fusionnée, tandis que David M. Brunelle continuera en tant que président. Après la fusion, les marques existantes fonctionneront initialement comme des divisions de Beacon Bank, avec une intégration complète et un rebranding prévus pour le 1er trimestre 2026.
Berkshire Hills Bancorp (NYSE: BHLB) und Brookline Bancorp (NASDAQ: BRKL) haben bekanntgegeben, dass die fusionierte Einheit den Namen Beacon Financial Corporation tragen wird und unter dem Tickersymbol BBT an der NYSE gehandelt wird. Die kombinierte Bank wird als Beacon Bank & Trust operieren, allgemein bekannt als Beacon Bank.
Die Fusion auf Augenhöhe soll im dritten Quartal 2025 abgeschlossen werden, wobei Paul A. Perrault, der derzeitige CEO von Brookline, als CEO des neuen Unternehmens fungieren wird, während David M. Brunelle weiterhin als Vorsitzender tätig bleibt. Nach der Fusion werden die bestehenden Marken zunächst als Abteilungen der Beacon Bank geführt, mit einer vollständigen Integration und Umbenennung, die für das erste Quartal 2026 geplant ist.
- Creation of a larger, more powerful financial institution through merger of equals
- Expanded geographical footprint across multiple regions
- Enhanced operational capabilities through combined scale
- Continued operation of existing bank brands during transition period to maintain client relationships
- Potential integration challenges during systems merger in Q1 2026
- Risk of customer confusion during brand transition period
- Multiple brand management complexity until full integration
Insights
Berkshire Hills and Brookline Bancorp's merger creates Beacon Financial, combining complementary footprints while maintaining existing banking divisions through Q1 2026.
The announced merger between Berkshire Hills Bancorp (NYSE: BHLB) and Brookline Bancorp (NASDAQ: BRKL) represents a strategically significant transaction in the Northeast banking landscape. Upon completion in Q3 2025, the combined entity will be renamed Beacon Financial Corporation and trade under the new ticker symbol BBT on the NYSE.
This true merger of equals maintains leadership continuity with Brookline's current Chairman and CEO Paul A. Perrault serving as CEO of the combined entity while Berkshire's Chairperson David M. Brunelle continues as Board Chair. The transaction preserves strong institutional knowledge at the executive level.
The merged bank will operate under a dual-brand strategy initially, maintaining all four existing banking divisions (Berkshire Bank, Brookline Bank, Bank Rhode Island, and PCSB Bank) post-closing. This suggests a measured integration approach, prioritizing client retention before full brand consolidation and systems integration in Q1 2026.
From a market positioning perspective, the merger creates a larger regional banking competitor with an expanded geographic footprint. The complementary market presence likely offers operational synergies while reducing competitive overlap concerns that might trigger regulatory objections.
The carefully designed brand identity—combining legacy colors and forming a stylized "B"—signals continuity despite the name change, addressing potential customer concerns about disruption. The unanimous board approval from both companies indicates strong internal alignment on the strategic direction.
BOSTON, Aug. 06, 2025 (GLOBE NEWSWIRE) -- Berkshire Hills Bancorp, Inc. (“Berkshire”) (NYSE: BHLB), the parent company of Berkshire Bank, and Brookline Bancorp, Inc. (“Brookline”) (NASDAQ: BRKL), the parent company of Brookline Bank, Bank Rhode Island, and PCSB Bank, today announced that the combined holding company that will be created through their transformative merger of equals will be named Beacon Financial Corporation and remain listed on the New York Stock Exchange under a new ticker symbol BBT. While the legal name of the combined bank will be Beacon Bank & Trust, it will be more commonly referred to as Beacon Bank. The merger is expected to be completed in the third quarter of 2025, subject to regulatory approvals and normal closing conditions.
Beacon Bank Logo
The name Beacon Bank was carefully chosen to reflect the shared vision of the combined organization. A beacon represents guidance, strength, and a promise of stability—core principles that the legacy institutions have upheld for generations. The logo design depicts a confluence of the Berkshire and Brookline names, forming a stylized and forward-looking B. The choice of navy and gold honors the respective legacy colors of each institution, updated and brightened to reflect the modern approach of the new institution. The Beacon Bank name and logo were unanimously approved by each company’s Board of Directors.
Paul A. Perrault, Chairman and CEO of Brookline Bancorp, who will serve as CEO of the combined company, commented, “Our merger of equals will create a powerful financial institution with deep local roots, a broad, complementary footprint and a strong commitment to its employees, clients, stockholders and communities. 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.”
David M. Brunelle, Chairperson of Berkshire Hills Bancorp, who will continue to serve as Chairperson of the Board for the combined company, added, “Our 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. We look forward to our new company delivering the enhanced capabilities that come from the combined institution’s scale and operational strength.”
While the new name and ticker symbol will be effective upon completion of the merger, clients will continue to be served post-closing under the Berkshire Bank, Brookline Bank, Bank Rhode Island and PCSB Bank brands operating as divisions of Beacon Bank & Trust. Over time, clients will begin to see updates such as the new name on statements, in online banking and at branches as the combined bank prepares for a full transition to the Beacon Bank brand, along with integration of banking systems in the first quarter of 2026.
Media inquiries or further information:
Berkshire Hills Bancorp, Inc.:
Media:
Gary R. Levante
Chief Communication & Sustainability Officer
413.447.1737
glevante@berkshirebank.com
Investor Relations:
Kevin Conn
Sr. Managing Director Investor Relations & Corporate Development
617.641.9206
kaconn@berkshirebank.com
Brookline Bancorp, Inc.:
Investor Relations:
Carl M. Carlson
Chief Financial and Strategy Officer
617.425.5331
Media:
Peter Roveto
SVP, Director of Marketing
617.730.3500
Peter.Roveto@BRKL.com
About Berkshire
Berkshire Hills Bancorp, Inc. (NYSE: BHLB) is the parent company of Berkshire Bank, a relationship-driven, community-focused bank that delivers industry-leading financial expertise to clients in New England and New York. With
About Brookline
Brookline Bancorp, Inc., a bank holding company with
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans and the future performance of Berkshire and Brookline.
Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "could," "may," "should," "will" or other similar words and expressions are intended to identify these forward-looking statements. These forward-looking statements are based on Berkshire’s and Brookline's current expectations and assumptions regarding Berkshire's and Brookline's businesses, the economy, and other future conditions. Because forward-looking statements relate to future results and occurrences, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Any number of risks, uncertainties, or other factors could affect Berkshire's or Brookline's future financial results and performance and could cause actual results or performance to differ materially from anticipated results or performance. Such risks and uncertainties include, among others: the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the definitive agreement and plan of merger between Berkshire and Brookline; the outcome of any legal proceedings that may be instituted against Berkshire or Brookline; delays in completing the proposed transaction; the failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the proposed transaction), or to satisfy any of the other conditions to the proposed transaction on a timely basis or at all, including the ability of Berkshire and Brookline to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction; the possibility that the anticipated benefits of the proposed transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Berkshire and Brookline do business; the possibility that the proposed transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; the possibility that revenues following the proposed transaction may be lower than expected; the impact of certain restrictions during the pendency of the proposed transaction on the parties' ability to pursue certain business opportunities and strategic transactions; diversion of management's attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the proposed transaction; the ability to complete the proposed transaction and integration of Berkshire and Brookline successfully; the dilution caused by Berkshire's issuance of additional shares of its capital stock in connection with the proposed transaction; and the potential impact of general economic, political or market factors on the companies or the proposed transaction and other factors that may affect future results of Berkshire or Brookline. The foregoing list of factors is not exhaustive. Except to the extent required by applicable law or regulation, each of Berkshire and Brookline disclaims any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. Further information regarding Berkshire, Brookline and factors which could affect the forward-looking statements contained herein can be found in Berkshire's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, its Quarterly Report on Form 10-Q for the period ended March 31, 2025 and its other filings with the SEC, and in Brookline’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, its Quarterly Report on Form 10-Q for the period ended March 31, 2025, and its other filings with the SEC. SEC filings are available free of charge on the SEC's website at www.sec.gov. Annualized, pro forma, projected, and estimated numbers in this document are used for illustrative purposes only, are not forecasts and may not reflect actual results.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f7b3d60c-9b7d-4efb-80f9-ca2a4eee0cf8
FAQ
When will the Berkshire Hills and Brookline Bancorp merger complete?
What will be the new name and ticker symbol after the Berkshire-Brookline merger?
Who will lead the combined Beacon Financial Corporation?
Will existing Berkshire and Brookline bank brands continue to operate?
What is the significance of the new Beacon Bank name and logo?
