Credit Services & Lending M&A » By The Online Investor Staff, updated Thu., Apr. 18, 12:45 AM
Recent mergers and acquisitions in the Credit Services & Lending M&A category.
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Slide #24. Berkshire Hills Bancorp, Inc. — 20 Branches in Central New York
Acquirer:
Berkshire Hills Bancorp, Inc. (NYSE:BHLB)
Acquiree:
20 Branches in Central New York
Details:
Berkshire Hills Bancorp, Inc. (NYSE: BHLB) today announced that its banking subsidiary, Berkshire Bank, has completed the previously announced acquisition of 20 retail bank locations from Bank of America, effective January 17, 2014. As a result of this 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.
Berkshire Hills Bancorp is the holding company for Berkshire Bank (the Bank). The Bank provides business and consumer banking, mortgage, wealth management, and investment services. The Bank's deposit accounts consist of demand deposits (non-interest-bearing checking), NOW (interest-bearing checking), regular savings, money market savings, and time certificates of deposit. The Bank provides targeted online and mobile deposit account opening capabilities for personal accounts. Additionally, the Bank provides a variety of retirement deposit accounts to personal and business customers. Co.'s Wealth Management Group provides investment management, trust administration, and financial planning.
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Avg. Broker Rec.
 
|
Buy (2.67 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: BHLB Stock Forecast Based on Zacks ABR data; powered by Xignite |
