Beacon Financial Corporation announced the debut of Beacon Bank, marking the successful combination of four longstanding financial institutions under a single new brand. The newly unified bank is now one of the 100 largest banks in the United States, with more than $23.2 billion in assets and over 145 branches and commercial centers across New England and New York.
The launch represents the final step in the merger of equals between Berkshire Hills Bancorp, Inc., parent company of the former Berkshire Bank, and Brookline Bancorp, Inc., parent company of the former Brookline Bank, Bank Rhode Island, and PCSB Bank. The rebrand is considered one of the largest multi-bank branding initiatives in the northeastern United States in the past 15 years.
Headquartered in Boston, Beacon Bank will operate across Massachusetts, New York, Rhode Island, Connecticut and Vermont. The company said it will roll out additional elements of its corporate identity through a multi-phase branding update at all locations in the coming months.
Beacon Bank combines nearly 200 years of financial history with a local decision-making model designed to keep authority close to the communities it serves. The bank emphasized that unlike institutions reliant on distant decision makers, it aims to deliver tailored solutions grounded in regional expertise and personalized service.
Clients will continue to work with familiar teams while gaining access to expanded capabilities, including a larger branch and ATM network, increased lending capacity, enhanced commercial and cash management services, asset-based lending, retail and consumer banking, residential lending, and wealth management offerings. The bank also highlighted a best-in-class online and mobile banking platform and the launch of BeaconBank.com.
Beyond traditional banking services, the holding company provides equipment financing through its Eastern Funding subsidiary, SBA lending via its 44 Business Capital division, and private wealth services through Clarendon Private.
KEY QUOTES
“Launching Beacon Bank represents a significant achievement for our organization and a critical step forward in our long-term strategy. By uniting our banks, we are enhancing the experience we deliver to clients and positioning the Company to generate sustainable value for our stockholders through improved performance, better efficiency and expanded opportunities for growth. This step also deepens our ability to invest in our colleagues and communities across our regions.”
Paul A. Perrault, CEO of Beacon Financial Corporation
