Friday, May 22, 2015 05:59am
North Adams, MA now: 45 °   
Send news, tips, press releases and questions to info@iBerkshires.com
The Berkshires online guide to events, news and Berkshire County community information.
LOG IN | REGISTER NOW   

Home About Archives RSS Feed
Follow iBWatercooler on Twitter
Berkshire, Legacy Consolidating
By: Staff Reports On: 12:09AM / Wednesday December 22, 2010
Important
0
Interesting
0
Funny
0
Awesome
0
Infuriating
0
Ridiculous
0

The latest round of consolidation in region's banking industry will see two of the largest teaming up.

The Berkshire Eagle is reporting that Berkshire Bank will buy Legacy Banks for $108 million, creating the biggest regional financial institution with more than $4 billion in assets. The Berkshire Bank name will remain (with Legacy added to it in the Berkshires) and Michael P. Daley will remain president and CEO. Legacy Banks President Patrick J. Sullivan will join the executive team.

Both financial institutions date back more than 150 years.

Employees were informed on Tuesday of the merger, which is expected to trim more than 40 of the two banks' 850 workers. Together, the banks have 66 branches in three states.

The merger is to be completed by June 2011. Sullivan told The Eagle that "it was no secret" Legacy had been losing money and talks between the publicly traded banks had been ongoing for several months. Berkshire Bank's acquisition of Legacy was described as a long-term, strategic move that will benefit shareholders and customers.

Customers should not see much of a change, said bank officials.



Tags: merger      
News Headlines
Pittsfield Community Connection Introduces Team Fighting Youth Violence
Adams Library Rededication To Take Place Saturday
iBerkshire Tag Sales: May 22-24
Lanesborough FinCom Will Support Mount Greylock Budget Request
Dr. Merselis Awarded Honorary Business Doctorate From Antioch
McCann Tech Grad Interns on Fenway Grounds Crew
Adams Board of Health 'Blindsided' by Code Officer Cut
Pittsfield Councilors Calling For Engineering Study On City Hall
Majority of McCann Teachers Should Recieve High Evaluation Scores
Williams Women's Tennis Wins 7th NCAA Title in Eight Years

 


Bill Schmick separates the bull from the bears in his weekly columns on investing and market wrap-ups.



Categories:
advertising (10)
agriculture (1)
arts (7)
automotive (4)
awards (16)
banking (41)
Beacon (1)
broadband (1)
business (52)
chamber (25)
closing (5)
development (23)
dining (5)
domestic animals (2)
energy (6)
entertainment (2)
federal (4)
finances (5)
food (5)
fundraiser (3)
green (2)
grocery (5)
hospitality/hotel (5)
housing (0)
insurance (3)
investment (6)
jobs (35)
labor (17)
laws (4)
Legislature (2)
manufacturing (9)
media (8)
medical (4)
networking (33)
new (22)
pricing (1)
projects (2)
promotion (6)
publishing (12)
radio (2)
real estate (8)
retail (29)
technology (13)
training (5)
transportation (1)
volunteer (1)
website (2)
wholesale (7)
workshops (6)
Archives:
September 2014 (1)
August 2014 (1)
Tags:
Berkshire Chamber Merger Small Business Walmart Pittsfield Unemployment State Adams Statistics Great Barrington Berkshire Creative Berkshire Living Unemployment Statistics Flood Auction Berkshire Chamber Of Commerce Qualprint Berkshire Enterprises Williamstown Gas Prices Jobs Baldwin Store Opening Talkberkshires Breakfast Excelsior Wmeco Crane & Co. Bj's Pine Cone Hill Sabic North Adams Currency Expansion
Popular Entries:
Berkshire Jobless Rates Drop
Bay State Continues to Add Jobs
Excelsior Brings Greeting Card Co. To North Adams
White Hart Inn For Sale for $5M
New Dog Training Center Open in North Adams
Covanta's Pittsfield Facility Gets High Marks from OSHA
Williamstown Chamber Seeks Input on Future Role
Adams Co-Op, South Adams Bank Merger Approved
Storey Publishing to Host Next Creative Challenge
Aladco Installs New 'Green' Washing Machine
Recent Entries:
Berkshire Eagle Parent Mulling Newspaper Sales
Digitial First Puts Vermont News Buildings on the Market
Berkshire Chamber, Neal Hosting Facebook for Business Workshop
Winstanley Wins Big at Annual ADDY Awards
Eggs & Issues Event Focuses on Rail Cars, Development
State Unemployement Rate Drops Slightly
New Biotech Firm Setting Up in Pittsfield
Crane Museum Opens Retail Store
License Commission Approves River Street Package Move
North Adams Big Y Celebrates Renovations


SB: Hoosac Valley at Lenox
Megan Goyette pitched a two-hiter and Kali Puppolo went...
Senior Citizen Prom 2015
Drury High School Sociology Classes hosted the Senior...
T&F: Drury @ Hoosac
The Drury girls took the last track and field events Friday...
T&F: PHS @ Taconic
Jay Doucette won the 100 meters and shot put and placed...
BArT Prom 2015
Berkshire Arts & Technology Public Charter School held its...
Drury High Prom 2015
Drury High School held its prom at the school on Saturday...
Lenox Prom 2015
Lenox High School students were announced as they made...
Mount Everett Prom 2015
Mount Everett School held its prom at Crissey Farm in Great...
MCLA Graduation 2015
The Massachusetts College Of Liberal Arts Class of 2015...
Spring Neighborlies 2015
The Northern Berkshire Community Coalition had its...
UNO Community Center Opens
The United Neighborhood Organization (UNO) in North Adams...
Lacrosse: Wahconah at...
When the Pittsfield boys lacrosse team met with Wahconah on...
Girls Lacrosse: Mt Greylock...
Sarah Stripp scored five goals and added three assists to...
SB: Sabis at McCann Tech
Haley Malloy struck out 10, and Taylor Sprague went 3-for-4...
SB: Lee at Hoosac Valley
The Hoosac Valley softball team got a quick lead en route...
Lacrosse: Taconic at Wahconah
The Wahconah boys lacrosse team defeated Taconic Monday...
SB: Hoosac Valley at Lenox
Megan Goyette pitched a two-hiter and Kali Puppolo went...
Senior Citizen Prom 2015
Drury High School Sociology Classes hosted the Senior...
T&F: Drury @ Hoosac
The Drury girls took the last track and field events Friday...
T&F: PHS @ Taconic
Jay Doucette won the 100 meters and shot put and placed...
BArT Prom 2015
Berkshire Arts & Technology Public Charter School held its...
| Home | A & E | Business | Community News | Dining | Real Estate | Schools | Sports & Outdoors | Berkshires Weather | Weddings |
Advertise | Recommend This Page | Help Contact Us
iBerkshires.com is owned and operated by: Boxcar Media 102 Main Street, North Adams, MA 01247 -- T. 413-663-3384 F.413-664-4251
© 2012 Boxcar Media LLC - All rights reserved

Privacy Policy| User Agreement