Berkshire Hills Bancorp, Inc. (BHLB), the parent entity of Berkshire Bank, and Brookline Bancorp, Inc. (BRKL), which oversees Brookline Bank, Bank Rhode Island, and PCSB Bank, have declared a definitive merger agreement. Under this arrangement, Brookline Bancorp will merge into Berkshire Hills through an all-stock transaction, valued at approximately $1.1 billion or $12.68 per Brookline common share, calculated based on Berkshire's stock closing price of $30.20 on December 13, 2024.
Accompanying this merger announcement, Berkshire stated it has signed subscription agreements with investors to bolster capital for the merger. Collectively, this will result in the issuance of $100 million worth of Berkshire common stock at a per-share
