October 16, 2017

Mass. lender pair finalize merger

Massachusetts lender Berkshire Hills Bancorp Inc., with regional operations in Hartford, has finalized its $209 million buyout of Worcester's Commerce Bancshares Corp.

The deal formally closed last Friday, Berkshire Hills CEO Michael Daly said Monday. The deal was first announced last May.

As a result, Pittsfield-based Berkshire Hills gained $2.2 billion in assets, pushing its total to more than $11 billion.

It also added 16 branches in the Worcester and Boston areas and becomes the largest regional bank headquartered in Massachusetts.

In connection with the merger, Berkshire Hills is relocating corporate headquarters to Boston.

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