Berkshire Bank has acquired Springfield-based Hampden Bank in a deal announced Tuesday. The $706 million acquisition bumps Berkshire Bank’s total assets up to $7.1 billion.Headquartered in Pittsfield, Berkshire Bank has 91 branches in Massachusetts, Vermont, Connecticut and New York staffed by 1,200 employees. Sean Gray is Berkshire’s executive vice president of retail banking. Still in the assessment phase, he says the company is in a good position to place Hampden’s 126 employees in 102 job openings at Berkshire, calling the acquistion a partnership.
“We’re committed to the Springfield market,” Gray said. “This exemplifies that commitment and I think it also allows us to do a better job serving the customers there with a deeper and stronger franchise because of those synergies.”
Berkshire Bank has 11 branches in the Springfield area, compared to Hampden’s 10. Withstanding federal regulatory approval, customer transition would begin in the second half of 2015.
