Beacon Federal Bancorp, Inc. Shareholders Approve Pending Merger With Berkshire Hills Bancorp, Inc.
September 20 2012 - 4:30PM
Beacon Federal Bancorp, Inc. (Nasdaq:BFED) (the "Company"), parent
of Beacon Federal, announced today that its shareholders approved
the Company's pending merger with Berkshire Hills Bancorp, Inc.,
(Nasdaq:BHLB) parent of Berkshire Bank, at a special meeting held
earlier today. Shareholders also voted in favor of a non-binding
advisory resolution to approve certain compensation to be paid to
certain executive officers of the Company in connection with the
merger.
The merger is expected to close in the fourth quarter of 2012
subject to the receipt of regulatory approval and the satisfaction
of other customary closing conditions.
About Beacon Federal Bancorp, Inc.
Beacon Federal Bancorp, Inc., through its bank subsidiary,
Beacon Federal, offers banking and related financial services to
both individual and commercial customers. The Bank is
headquartered with a full-service branch in East Syracuse, New
York, along with six other full-service branches in East Syracuse,
Marcy and Rome, New York, Smartt and Smyrna, Tennessee, and
Chelmsford, Massachusetts.
Forward Looking Statement
Certain statements contained in this press release that are not
statements of historical fact constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, notwithstanding that such statements are not specifically
identified. Words such as "believes," "anticipates,"
"expects," "intends," "targeted," "continue," "remain," "will,"
"should," "may" and other similar expressions are intended to
identify forward-looking statements but are not the exclusive means
of identifying such statements. Forward-looking statements are
not guarantees of future performance and involve certain risks,
uncertainties and assumptions which are difficult to
predict. Therefore, actual outcomes and results may differ
materially from what is expressed or forecasted in such
forward-looking statements. All subsequent written and oral
forward-looking statements concerning the proposed transaction or
other matters and attributable the Company or any person acting on
its behalf are expressly qualified in their entirety by the
cautionary statements referenced above. Forward-looking
statements speak only as of the date on which such statements are
made. The Company undertakes no obligation to update any
forward-looking statement to reflect events or circumstances after
the date on which such statement is made, or to reflect the
occurrence of unanticipated events.
CONTACT: Lisa Jones - Chief Financial Officer
Beacon Federal Bancorp, Inc.
6611 Manlius Center Road
East Syracuse, New York 13057
(315) 433-0111 ext. 1582
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