Source: www.streetinsider.com
Berkshire Hills Bancorp Inc. has announced the acquisition of SI Financial Group Inc. (SIFI) and its subsidiary Savings Institute Bank and Trust Company, in an all-stock transaction valued at $180 million. Under the agreement, each outstanding share of SIFI common stock will be exchanged for 0.48 shares of Berkshire Hills common stock. Post acquisition, Berkshire’s total assets will increase to $13.6 billion including the $1.6 billion in acquired SIFI assets. SIFI has $1.3 billion in loans and $1.3 billion in deposits as of September 30, 2018.
