As previously disclosed on December 16, 2024, Brookline Bancorp, Inc. (“Brookline”), Berkshire Hills Bancorp, Inc. (“Berkshire”), and Commerce Acquisition Sub, Inc., a direct, wholly owned subsidiary of Berkshire (“Merger Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”). The Merger Agreement provides that, upon the terms and subject to the conditions set forth therein, Merger Sub will merge with and into Brookline, with Brookline as the surviving entity (the “Merger”), and immediately following the Merger, Brookline will merge with and into Berkshire, with Berkshire as the surviving entity (the “Holdco Merger”). The Merger Agreement further provides that immediately following the Merger, Berkshire Bank, a wholly owned subsidiary of Berkshire, Bank Rhode Island, a wholly owned subsidiary of Brookline, and PCSB Bank, a wholly owned subsidiary of Brookline, each will merge with and into Brookline Bank, a wholly owned subsidiary of Brookline, with Brookline Bank as the surviving bank (the “Bank Mergers” and, together with the Merger and the Holdco Merger, the “Proposed Transaction”).

On August 6, 2025, Brookline and Berkshire jointly announced that, in connection with the closing of the Proposed Transaction, the post-closing combined holding company will be named Beacon Financial Corporation and will remain listed on the New York Stock Exchange under a new ticker symbol “BBT.” Additionally, the name of the post-closing combined bank will be Beacon Bank & Trust, though it will be more commonly referred to as Beacon Bank.

The Proposed Transaction is expected to close in the third quarter of 2025, subject to customary closing conditions, including receipt of required regulatory approvals.

A copy of the joint press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.