Berkshire Hills Bancorp acquires Factory Point Bancorp of VT

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Pittsfield-based Berkshire Hills Bancorp is acquiring Factory Point Bancorp of Vermont in a cash and stock deal valued at $82 million.

Factory Point National Bank will be integrated into Berkshire Bank, an operating subsidiary of Berkshire Hills.

Berkshire Bank will now serve Massachusetts, New York, and Vermont through a network of 38 full-service branches and ten insurance agency offices when the deal is complete.

The boards of both companies have approved the acquisition.

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