BOSTON, Dec. 2, 2020 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB ) today announced that its wholly owned subsidiary Berkshire Bank has entered into an agreement with Investors Bank of Short Hills, New Jersey, subject to customary regulatory approvals, to sell its Mid-Atlantic branches, consisting of six offices in New Jersey and two in Pennsylvania. In addition, the Bank plans to consolidate 16 full-service branches. Following the targeted completion of these initiatives in the first half of 2021, the bank will operate a total of 106 branches across Massachusetts, Connecticut, Rhode Island, Vermont and New York - reducing the overall branch footprint by 18%. Acting CEO Sean Gray stated, "These announcements are in alignment with Berkshire's strategic shift toward improving profitability by refocusing on our core operations and operating efficiency.