Boston-Based Regional Banks Announce Merger -- WSJ

Dow Jones12-17

By Gina Heeb

Boston-based regional bank companies Berkshire Hills Bancorp and Brookline Bancorp announced plans to combine in an all-stock merger of equals, confirming an earlier Wall Street Journal report.

The deal will create a Northeast regional bank with around $24 billion in assets and more than 140 branches across five states. It is expected to close in the second half of next year, subject to closing conditions including regulatory and shareholder approvals.

Both Berkshire and Brookline have exposure to commercial real-estate loans, which have come under pressure.

Read more on how the deal came together:

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

December 16, 2024 12:19 ET (17:19 GMT)

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