March 8, 2024

On March 4, 2024, Berkshire Bank, Boston, Massachusetts, entered into three definitive agreements to sell ten of its Upstate and Eastern New York branches, subject to regulatory approval and other customary closing conditions. Under the agreements, Berkshire Bank will sell approximately $485.5 million in deposits, $60.5 million of related residential mortgage and consumer loans, and the branch premises and equipment. The sales exclude Berkshire Bank’s commercial banking businesses associated with the branches.

Berkshire Bank, the wholly-owned subsidiary of Berkshire Hills Bancorp, Inc., operates in New England and New York. Berkshire Hills Bancorp, Inc. has approximately $12.4 billion in assets.

The Luse Gorman team consisted of Marc Levy, Max Seltzer, Lawrence Spaccasi and Babette Schwartz.

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.