Pepper Hamilton Represents First Choice Bank in Acquisition by Berkshire Hills Bancorp Inc.
Attorneys Provide Legal Counsel in $112 Million Acquisition Deal.
In a transaction featured on The Deal on June 27, 2016, Pepper Hamilton LLP provided legal counsel to First Choice Bank in its acquisition by Berkshire Hills Bancorp Inc., a NYSE listed company and parent of Berkshire Bank. Under the definitive merger agreement, First Choice Bank will merge into Berkshire Bank and its subsidiary, First Choice Loan Services Inc., will become a subsidiary of Berkshire Bank in an all-stock transaction valued at approximately $111.7 million.
The acquisition of $1.1 billion in First Choice assets will increase Berkshire's total assets to $8.9 billion. This market-expanding merger provides entry into attractive markets with strong demographics, and includes eight banks across New Jersey and Pennsylvania. Berkshire increases its number of branches to 101 serving customers and communities across the Northeast.
Pepper Hamilton partners Michael J. Mann, Donald R. Readlinger, Howard S. Goldberg, Jonathan A. Clark and Daniel G. Murray, special counsel Gregory J. Rubis and associate Vindhya T. Adapa served as First Choice's legal counsel on the deal.
About Berkshire Hills
Berkshire Hills Bancorp is the parent of Berkshire Bank – America's Most Exciting Bank®. The Company, recognized for its entrepreneurial approach and distinctive culture, has approximately $7.8 billion in assets
and 93 full service branch offices in Massachusetts, New York, Connecticut, and Vermont providing personal and business banking, insurance, and wealth management services. For more information, visit www.berkshirebank.com.
About First Choice
First Choice Bank is a commercial Bank chartered in New Jersey and commenced operations in 2007. The Bank provides financial services primarily to Mercer County and surrounding New Jersey counties and also Bucks County in Pennsylvania.
The Bank maintains its principal office and a branch in Lawrenceville, New Jersey, and has eight full service locations.