The combination of four banks, including one with branches in Connecticut, is bringing a new name to the state: Beacon Bank.
The former Berkshire Bank, which expanded into greater Hartford nearly 15 years ago, will take the Beacon name after a $1.1 billion merger completed last fall. The merger involved Berkshire and three banks and two parent companies.
Together, the combined banks under the Beacon name now have a presence in New England and New York with 145 branches and $23.2 billion in assets.
Boston-based Beacon has 11 locations in greater Hartford in West Hartford, Glastonbury, Rocky Hill, West Simsbury, Farmington, Colchester, Enfield, Hebron, Lebanon, Mansfield and Windsor.
A major step in the merger was completed earlier this month with the conversion and combination of its account systems under the Beacon name, according to published reports. The branding was announced Monday.
In a statement, Beacon said it will differentiate itself by combining deep local roots with a track record of 200 years of financial strength, expertise and personalized service.
In contrast to some competitors, Beacon said it makes decisions close to home, “ensuring solutions are tailored to each client and community.”
“By uniting our banks, we are enhancing the experience we deliver to clients and positioning the Company to generate sustainable value for our stockholders through improved performance, better efficiency and expanded opportunities for growth,” Paul A. Perrault, the bank’s chief executive, said. “This step also deepens our ability to invest in our colleagues and communities across our regions.”
Berkshire Bank has 11 locations in greater Hartford. (Courant file photo)
The bank noted that the combination represented one of the largest multi-bank rebranding projects in the Northeast in the last 15 years.
Beacon said the bank’s name may have changed, “but clients will still find the same familiar faces, exceptional service and trusted guidance for every stage of their financial journey.”
The rebranding comes amid a major shake-up in the banking landscape in Connecticut and the surrounding region as Madrid-based giant Banco Santander recently announced the acquisition of Stamford-based Webster Bank in a $12.3 billion deal. The acquisition was announced earlier this month and is expected to be completed in the second half of 2026.
Historically, rival banks attempt to capitalize on disruptions in the market when there is a major financial merger.
Berkshire Bank made is first foray into Connecticut with the 2012 acquisition of the second Connecticut Bank and Trust Co. — chartered in 2004 with one of the state’s oldest banking monikers.
Kenneth R. Gosselin can be reached at kgosselin@courant.com.
