Current Report Filing (8-k)
September 01 2021 - 5:18PM
Edgar (US Regulatory)
false000110813400011081342021-09-012021-09-01
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 1, 2021
BERKSHIRE HILLS BANCORP, INC.
(Exact Name of Registrant as Specified in its Charter)
Registrant’s telephone number, including area code: (800) 773-5601, ext. 133773
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule
12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has
elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻
Item 2.01. Completion of Acquisition or Disposition of Assets.
On September 1, 2021, Berkshire Hills Bancorp, Inc., a Delaware corporation (the “Company”), completed the sale of substantially all of
the assets, and the assumption of certain of the liabilities of, Berkshire Insurance Group, Inc. (“BIG”) to Brown & Brown of Massachusetts, LLC, a Massachusetts limited liability company (“Buyer”).
Pursuant to the terms and subject to the conditions set forth in the Asset Purchase Agreement dated August 24,
2021, at the closing of the transaction (the “Closing”), Buyer paid BIG an aggregate purchase price of $41.5 million, minus $1.6 million for executive goodwill purchase price payments paid by Buyer at the Closing to certain executives of BIG.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are being filed herewith:
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned, hereunto duly authorized.
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