Nitin Mhatre is CEO of Berkshire Bank, headquartered in Boston.
Two Massachusetts financial institutions and their parent companies, Berkshire Hills Bancorp Inc. and Brookline Bancorp Inc., announced a deal Monday in which Berkshire would acquire Brookline for $1.1 billion in stock.
Berkshire is the parent of Berkshire Bank, ranked as the eighth largest in Massachusetts by local deposits, while Brookline operates Brookline Bank in Massachusetts, Bank Rhode Island and PSCB Bank in New York State. Brookline Bank is the 12th largest in the state by local deposits.
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