Berkshire Hills Bancorp Inc. has completed its acquisition of Rome Bancorp Inc. and its subsidiary, The Rome Savings Bank, a $327 million bank with five banking offices serving Rome, Lee, and New Hartford, N.Y.

Pursuant to the merger agreement, Rome Bancorp merged into Berkshire Hills Bancorp and The Rome Savings Bank merged into Berkshire Bank.

"Our teams have worked hard to unite our companies and position ourselves to expand on Rome Savings’ strong business foundation," said Berkshire President and CEO Michael P. Daly. "We are pleased to welcome Rome Savings’ customers and we look forward to continuing to provide them the high level of service that they are accustomed to, as well as the full array of products and services that Berkshire Bank offers. The stock portion of the merger consideration was oversubscribed and our stock has performed strongly since the announcement of this merger. In addition to this merger, we are progressing with our pending merger agreement with Legacy Bancorp, as we target to complete that transaction early in the third quarter of this year."

Under the terms of the merger agreement, 70 percent of the outstanding shares of Rome Bancorp common stock were exchanged for shares of Berkshire Hills Bancorp common stock, and 30 percent of outstanding Rome common shares were exchanged for cash, according to a statement.