Berkshire Hills Bancorp And Brookline Bancorp Announce A Merger Of Equals To Create A Premier Northeast Banking Franchise; Brookline Will Merge With And Into Berkshire In An All-Stock Transaction Valued At ~$1.1B, Or $12.68 Per Share Of Brookline Common Stock

Author: Benzinga Newsdesk | December 16, 2024 09:34am

• Combination increases scale with $24 billion in assets, 148 branch offices and a longstanding history of serving clients and communities
• Highly compatible cultures, deep community ties and operating philosophies 
• 0.42 Berkshire shares for each Brookline share; Berkshire's dividend expected to be increased to have a neutral impact on Brookline shareholders

BOSTON, Dec. 16, 2024 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. ("Berkshire") (NYSE:BHLB), the parent company of Berkshire Bank ("Berkshire Bank"), and Brookline Bancorp, Inc. ("Brookline") (NASDAQ:BRKL), the parent company of Brookline Bank, Bank Rhode Island, and PCSB Bank (the "Banks"), today announced they have entered into a definitive agreement pursuant to which Brookline will merge with and into Berkshire in an all-stock transaction valued at approximately $1.1 billion, or $12.68 per share of Brookline common stock, based on the $30.20 closing price of Berkshire common stock on December 13, 2024.

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