Berkshire Bank - M&A Summary and Business Overview

Financial ServicesCompany

Berkshire Bank M&A Summary

Berkshire Bank has acquired 16 companies. It has also divested 2 assets.

Berkshire Bank’s largest acquisition to date was in 2018, when it acquired SI Financial Group for $180M. Berkshire Bank has acquired in 6 different US states. The Company’s most targeted sectors include financial services (69%) and insurance (32%).

Berkshire Bank Business Overview

Where is Berkshire Bank headquartered?

Berkshire Bank is headquartered in Boston, Massachusetts.

What is Berkshire Bank’s revenue?

Berkshire Bank disclosed revenue of 414M USD for 2022 and 381M USD for 2021.

How many employees does Berkshire Bank have?

Berkshire Bank has 1,310 employees.

What sector is Berkshire Bank in?

Berkshire Bank is a financial services company.

When was Berkshire Bank founded?

Berkshire Bank was founded in 1846.

M&A Summary

  • M&A Total Activity18
    • M&A Buy Activity16
    • M&A Sell Activity2
  • Total Sectors Invested 2
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 4
  • M&A Advisors 4

Berkshire Bank

Berkshire Hills Bancorp, Inc.

60 State Street,
Boston, Massachusetts 02109
United States,
(617) 641-9206
www.berkshirebank.com

Berkshire Bank is a regional bank and financial services company providing the service capabilities of a larger institution and the focus and responsiveness of a local partner to its communities. Berkshire Bank was incorporated in 1846 and is based in Boston, Massachusetts.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.0/yr) # 16 - - - - - 16
vol $536M $536M
Sell (0.2/yr) # 1 - 1 - - - 2
  18

Most Recent M&A

Company Date Value Type
Berkshire Insurance Group 2021-08-24 - Divestiture
Stockbridge, Massachusetts · www.berkshireinsurancegroup.com
SI Financial Group, Inc. 2018-12-11 180M USD Add-on Acquisition
Willimantic, Connecticut · www.mysifi.com
First Choice Bank 2016-06-27 112M USD Add-on Acquisition
Lawrenceville, New Jersey · www.firstchoice-bank.com
Firestone Financial Corp. 2015-05-22 - Add-on Acquisition
Needham, Massachusetts · www.firestonefinancial.com
Hampden Bancorp, Inc. 2015-04-17 - Add-on Acquisition
Springfield, Massachusetts · www.hampdenbank.com
Bank of America Corp. - 20 Retail Bank Branches 2013-07-24 - Divestiture
, United States
Beacon Federal Bancorp, Inc. 2012-05-31 132M USD Add-on Acquisition
East Syracuse, New York · www.beaconfederal.com
The Connecticut Bank and Trust Co. 2011-10-25 30M USD Merger
Hartford, Connecticut · www.thecbt.com
Legacy Bank 2011-07-01 - Divestiture
Pittsfield,, Massachusetts
Factory Point Bancorp, Inc. 2007-05-15 82M USD Add-on Acquisition
Manchester Center, Vermont
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 11 (69%) 536M (100%) - -
Insurance 5 (31%) - 1 (50%) -
Software - - 1 (50%) -
Total 16 $536M 2 -

By Geo

State/Country Buy Value Sell Value
United States 16 536M 2 -
  Massachusetts 10 - 1 -
  Connecticut 2 210M - -
  Vermont 1 82M - -
  New York 1 132M - -
  New Jersey 1 112M - -
  New Hampshire - - 1 -
Total 16 $536M 2 -

Top M&A Advisors

Financial Deals
Sandler O'Neill + Partners LP
 3
Jefferies
 2
Legal Deals
Luse Gorman
 7
Muldoon Murphy & Aguggia LLP
 1

Deal Values

buy # Total
$100M to $1B 3 $424M
< $100M 2 $112M
TOTAL $536M
Largest SI Financial Group, Inc.
$180M (2018-12-11)

M&A Connections

Deals
Acquired from
Strategic(s)
13%
2 (13%)
Divested to
Strategic(s)
100%
2 (100%)

Company Summary

SECTOR

Financial Services

Revenue

414   9% 2022
381   1% 2021
382   15% 2020
448   5% 2019
469   12% 2018
420   47% 2017
287   2016
(millions of USD) Show More Show Less

Employees

1,310

Established

1846

Public

NYSE: BHLB

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