The banks integrated their systems over the weekend, with temporary Beacon signs appearing at the bank’s Downtown Worcester location on Tuesday.
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After its parent company completed a merger with Brookline Bancorp in September, Berkshire Bank locations are now operating as Beacon Bank.
The September merger saw Berkshire Hills Bancorp, the parent company of Berkshire Bank, merge with Brookline Bancorp, the parent company of Brookline Bank, Bank Rhode Island, and New York-based PCSB bank.
The merger resulted in the creation of Beacon Financial Corp. a new parent company headquartered in Boston, with the four bank brands now all operating as Beacon Bank.
The banks integrated their systems over the weekend, with temporary Beacon signs appearing at the bank’s Downtown Worcester location on Tuesday.
Beacon is the fifth largest bank in Central Massachusetts, with $2.5 billion in local deposits, according to information compiled by the WBJ Research Department. It trails North Carolina-based Bank of America, Toronto-based TD Bank, Natick-based Middlesex Savings Bank, and Providence-based Citizens Bank.
Beacon has 13 locations in Central Massachusetts, with branches in Worcester, Holden, Leominster, Milford, Shrewsbury, Webster, West Boylston and Westborough. The company has $23.2 billion in assets and more than 145 branches across Massachusetts, Connecticut, Rhode Island, Vermont, and New York.
Beacon Financial Corp. is traded on the New York Stock Exchange, with shares at a price of around $31.56 per share as of Tuesday morning.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the real estate and banking & finance industries.