Berkshire Hills Bancorp, Inc. (NYSE: BHLB) announced a new stock buyback program Tuesday.
The board of directors at the Pittsfield, Mass.–based company, parent of Berkshire Bank, approved the repurchase of up to 500,000 shares, or about 2 percent of its outstanding common stock. The company also said it finished buying back shares under its previous program, which had about 98,000 shares available for repurchase as of the end of 2012.
The bank has about $5.3 billion in assets and 75 branches in Massachusetts, New York, Connecticut, and Vermont. Berkshire first entered the Central New York market in 2011 with its acquisition of Rome Savings Bank and it also acquired DeWitt–based Beacon Federal in October.
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