Berkshire Bank has announced that it is acquiring 20 branches of Bank of America, including several in the Mohawk Valley.
The 20 branches will increase Berkshire's total branch count to 94 branches in its footprint, and its New York branch count will more than double to 37 branches.
The following is a list of the acquired Bank of America branches:
- Amsterdam - 140 Sanford Farms Plaza
- Cairo - 440 Main St
- Chatham - 50-52 Main St.
- Glens Falls - 14 La Rose St.
- Greenville - 11565 Highway 32
- Hudson - 561 Warren St.
- Ilion - 1 Central Plaza
- Johnstown - 51 West Main St.
- Little Falls - One West Main St.
- New Hartford - 50 Genesee St.
- New Lebanon - Hwy 20 and Hwy 22
- Queensbury - 183 Quaker Rd
- Rome - 200 West Dominick St.
- Rome - 1714 Black River Boulevard
- Utica - 50 Auert Ave
- Utica - 911 Cornelia St.
- Utica - 268 Genesee St.
- Utica - 1100 Mohawk St.
- West Winfield - 381 West Main St. PO Box 63
- Whitesboro - 34 Oriskany Boulevard
Bank officials say the acquired branches have approximately $640 million in total deposits and $5 million in loans. Both banks say they will be working closely together to 'ensure a seamless transition for customer accounts and associates transferring to Berkshire Bank.' Berkshire officials state the company intends to offer continued employment to branch associates who are on staff when the acquisition is completed.
This acquisition is subject to regulatory approval from the FDIC and the Commonwealth of Massachusetts and the satisfaction of customary closing conditions. The acquisition is expected to be completed in the first quarter of 2014.