On December 16, 2024, Berkshire Hills Bancorp, Inc., the holding company for Berkshire Bank, and Brookline Bancorp, Inc., the holding company for Brookline Bank, Bank Rhode Island and PCSB Bank, announced their agreement to enter into a merger of equals, with Berkshire Hills Bancorp and Brookline Bank as the surviving entities. The all-stock transaction is valued at approximately $1.1 billion.

Berkshire Hills Bancorp, Inc. is the parent company of Berkshire Bank, a bank located in New England and New York. With $11.6 billion in assets and 83 branches, Berkshire is headquartered in Boston and provides banking solutions through its Commercial Banking, Retail Banking, Consumer Lending, Private Banking and Wealth Management divisions.

Brookline Bancorp, Inc. is a multi-bank holding company for Brookline Bank, Bank Rhode Island, PCSB Bank and their subsidiaries. Headquartered in Boston, Massachusetts, Brookline Bancorp has $11.7 billion in assets and branches throughout Massachusetts, Rhode Island, and New York.

Luse Gorman is serving as legal counsel to Berkshire in the transaction. The Luse Gorman team consists of Lawrence M.F. Spaccasi, Marc Levy, Max Seltzer, Anahita Mohtasham and Keeler Fina.

Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past seven years and more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.