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  6. Berkshire Bank Acquires Factory Point Bancorp

M&A Deal Summary

Berkshire Bank Acquires Factory Point Bancorp

On May 15, 2007, Berkshire Bank acquired financial services company Factory Point Bancorp for 82M USD

Acquisition Highlights
  • This is Berkshire Bank’s 3rd transaction in the Financial Services sector.
  • This is Berkshire Bank’s 4th largest (disclosed) transaction.
  • This is Berkshire Bank’s 8th transaction in the United States.
  • This is Berkshire Bank’s 1st transaction in Vermont.

M&A Deal Summary
Date 2007-05-15
Target Factory Point Bancorp
Sector Financial Services
Buyer(s) Berkshire Bank
Deal Type Add-on Acquisition
Deal Value 82M USD
Advisor(s) McConnell Budd & Romano (Financial)
Rhoads & Sinon LLP (Legal)

Target

Factory Point Bancorp

Manchester Center, Vermont, United States
Factory Point Bancorp, Inc. is an operater of seven full-service community banking offices in Arlington, Dorset, Ludlow, Manchester, and Rutland Vermont. Factory Point's primary lines of business include residential real estate lending (for portfolio and sale on the secondary market), small business loan and deposit services, as well as a variety of consumer loan and deposit services. Factory Point National Bank is chartered with trust powers and offers trust and investment services in the markets it serves.

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Buyer(S) 1

Buyer

Berkshire Bank

Boston, Massachusetts, United States
Category Company
Founded 1846
Sector Financial Services
Employees1,310
Revenue 384M USD (2024)
DESCRIPTION

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 founded in 1846 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 8 of 16
Sector: Financial Services M&A 3 of 11
Type: Add-on Acquisition M&A Deals 8 of 13
State: Vermont M&A 1 of 1
Country: United States M&A 8 of 16
Year: 2007 M&A 1 of 1
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-24 Minkler Insurance Agency Inc

Stockbridge, Massachusetts, United States

Minkler Insurance Agency,is a provider of insurance services and financial services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-01 Legacy Bank

Pittsfield,, Massachusetts, United States

The Legacy Bank is a Pennsylvania state-chartered bank . Legacy serves a niche market of small and middle-market businesses and professionals and uses a business model predicated on convenient delivery of banking products and services.

Buy -
Mergr

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