Even though it is still bound by a previously disclosed merger agreement with Pittsfield’s Berkshire Hills Bancorp, Worcester’s CNB Financial, parent company of Commonwealth National Bank, has announced it will "begin discussions" with West Springfield’s United Financial Bancorp regarding United’s recent "unsolicited" acquisition offer. Additionally, it seems a third, undisclosed bank is also interested in acquiring the Worcester bank, and discussions have also commenced with them.

CNB Financial Corp. has entered into a definitive agreement and plan of merger with Berkshire Hills Bancorp whereby it would be acquired for $9.23 per share. United’s offer stands at $10.25 per share, after a heated bidding war between Berkshire and United that started with Berkshire’s initial offer of $8.50 per share.

The merger agreement with Berkshire remains in effect and CNB continues to be bound by its terms, according to a statement. CNB may not enter into a definitive agreement with United or the undisclosed "other bank" unless the merger agreement with Berkshire Hills Bancorp has first been terminated.

CNB is not entitled to unilaterally terminate the merger agreement with Berkshire Hills to accept a superior proposal. Under the terms of the merger agreement, Berkshire may elect to terminate the merger agreement if CNB’s board does not recommend approval of the merger agreement and either party may terminate if CNB’s shareholders fail to approve the merger agreement. In addition, CNB Financial Corp. and Berkshire Hills Bancorp may mutually agree to terminate their merger agreement, the statement said.

United said in a statement last week that its offer of $10.25 per share was only valid through June 1.