Bank of America Sells 20 New York Branches to Berkshire Bank


Updated on Thu Jul 25, 2013

Bank of America agreed to sell 20 retail bank branches to New York-based Berkshire Bank. Representing roughly $640 million in deposits and $5 million in loans, the branches are all located in New York.

“We believe that our existing customers and these new customers will value the enhanced convenience of our expanded New York branch network as well as our active community support and the additional resources provided through our New York regional headquarters,” said Michael Daly, CEO of Berkshire, in a press statement.

The branch sale is expected to complete in the first quarter of 2014.

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