Beacon Federal Bancorp Inc., of East Syracuse, N.Y., looks to be the latest bank swallowed up by the rapidly expanding Berkshire Hills Bancorp Inc.

Pittsfield-based Berkshire Hills said it will acquire Beacon Federal in a deal valued at about $132 million. The acquisition would bring Berkshire’s branch count to 75 and stretch its footprint to East Syracuse in the west, and east into Chelmsford, where Beacon has an office. Beacon’s Chelmsford office will be Berkshire’s first full-service branch in Eastern Massachusetts.

Berkshire has also expanded by acquiring banks in Southern Vermont and, with its recent acquisition of the Hartford-based Connecticut Bank & Trust Co., Central Connecticut.

Beacon operates seven branches in Syracuse, Rome and Utica. Last year, Berkshire entered the Upstate New York market with the acquisition of Rome Bancorp.

When closed, the acquisition will give Berkshire 26 Upstate New York offices with total deposits of more than $1.4 billion.

Beacon Federal was organized as the Carrier Employees Federal Credit Union in 1953 to serve employees of HVAC giant Carrier Corp. in Syracuse, according to the bank’s web site. It converted to a mutual bank charter, and changed its name to Beacon Federal, in 1999. It converted to a stock bank in 2007.

In the Berkshire acquisition, half of Beacon’s outstanding shares will be exchanged for 0.92 Berkshire shares. The remaining half of Beacon’s shares will be paid for in cash at $20.50 per share.

The price represents 111 percent of Beacon’s tangible book value and a 3.4 percent premium to core deposits as of the end of the first quarter.

Michael P. Daly, Berkshire’s president and CEO, said in a statement that the acquisition is expected to produce a 10 percent increase in core per-share earnings in 2013.