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Berkshire Hills Completes Acquisition of BofA Branches in Central New York

deal closed, agreement, acquisition

Berkshire Hills Bancorp, Inc., announced Tuesday that its banking subsidiary, Berkshire Bank [1], has completed the previously announced acquisition of 20 retail bank locations from Bank of America [2], effective January 17, 2014.  As a result of the transaction, Berkshire acquired approximately $450 million in deposits and $4 million in loans as of January 14, 2014, bringing the total number of branches in Berkshire's footprint to 91 across New England and New York.

The newest branches are located in the eastern and central New York cities of Amsterdam, Cairo, Chatham, Glens Falls, Greenville, Hudson, Ilion, Johnstown, Little Falls, New Hartford, New Lebanon, Queensbury, Utica, West Winfield, and Whitesboro.

Chairman and CEO Michael Daly stated, "We are thrilled to welcome the customers and employees of these branches to ‘America's Most Exciting Bank.’ Our expanded footprint in New York will benefit both existing and new customers through enhanced convenience and active community support."

Berkshire has approximately 91 full-service branch offices in Massachusetts, New York, Connecticut, and Vermont, providing personal and business banking, insurance, and wealth management services.