Banker & Tradesman file photo
Once the merger between Boston-based Berkshire Bank and Brookline Bancorp is completed, the new bank will go by a new name, the two lenders announced late Wednesday.
“Our new name honors the legacy of Berkshire and Brookline while looking toward a bright and ambitious future,” Berkshire Bank chairperson David Brunelle said in a statement. “While the name is changing, we remain dedicated to offering trusted financial solutions and local expertise. We look forward to our new company delivering the enhanced capabilities that come from the combined institution’s scale and operational strength.”
The legal name of the combined bank will be Beacon Bank & Trust but it will be more commonly referred to as Beacon Bank, the two banks’ announcement said, and the merged bank’s holding company will be called Beacon Financial Corporation. The name was chosen to reflect the shared vision of the combined organization, according to the announcement. Additionally, the banks noted that the new logo features colors from both institutions and the word “beacon” represents “guidance, strength, and a promise of stability”.
While the new name and “BBT” ticker symbol will be effective upon completion of the merger, clients will continue to be served post-closing under the Berkshire Bank brand and the brands of Brookline Bancorp’s three subsidiary bank – Brookline Bank, Bank Rhode Island and PCSB Bank – operating as divisions of Beacon Bank & Trust.
Over time, Berkshires and Brookline said, the banks’ customers will begin to see updates to things like signs and letterhead on bills as the combined bank prepares for a full transition to the Beacon Bank brand, along with integration of banking systems in the first quarter of 2026.
“Our merger of equals will create a powerful financial institution with deep local roots, a broad, complementary footprint and a strong commitment to its employees, clients, stockholders and communities,” Brookline Bancorp CEO Paul Perrault said. “The Beacon Bank name reflects our desire to be a reliable guide in financial decision-making, helping clients reach their goals with clarity, confidence, and trust.”
The merger is expected to be completed in the third quarter of 2025 following receipt of regulatory approvals.
The combined entity is expected to have $23.42 billion in assets and $18.43 billion in deposits according to FDIC third-quarter figures, making it the third-biggest, locally based bank by assets and deposits – albeit with those dollars spread over a much larger geographic area than its nearest rivals Rockland Trust and Eastern Bank.
Beacon Bank’s new logo. Image courtesy of Berkshire Bank
