Berkshire Hills Bancorp (BHLB) in Pittsfield, Mass., has terminated all of its interest rate swaps associated with Federal Home Loan Bank advances through the end of last year.

The swaps had a total value of $410 million, the $5.7 billion-asset company said in a regulatory filing. The move was tied to the reduction of FHLB advances as a result of Berkshire Hills buying 20 Bank of America (BAC) branches in New York, along with $640 million in deposits and $5 million in loans. With the deal's Jan. 17 completion, Berkshire Hills doubled its branch count in New York to 37.

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