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SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2012
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

25.       SUBSEQUENT EVENTS

 

On March 1, 2013, Berkshire Bank received approval from the Federal Deposit Insurance Corporation regarding the Consulting, Non-Competition, Non-Solicitation, Non-Disparagement, and Release Agreements (“Agreements”) for former executives of Beacon Federal. Under the Agreements, Berkshire Bank will pay a one-time fee of approximately $2.5 million in 2013.