Berkshire Hills Bancorp, parent of Berkshire Bank, is relocating its corporate headquarters to Boston later this year to support the bank’s strategic growth throughout the Northeast.

The bank is also acquiring Commerce Bancshares and its subsidiary, Commerce Bank, in Worcester, MA, adding 16 new branches in eastern Massachusetts and a well-established commercial team to capitalize on growth opportunities and further solidify its regional presence. The combined institution will be the largest regional bank in Massachusetts and first regional bank headquartered in Boston in decades.

“Locating our corporate headquarters in Boston will not take us away from our roots in Berkshire County; we remain committed to all of our employees, customers and communities,” said Michael P. Daly, CEO of Berkshire Bank. “Boston will offer our senior executives connectivity with government leaders, regulators and decision makers, and provide the ability to attract broader workforce talent as the bank continues to grow. With the addition of the Commerce team we will be able to leverage the strengths of both banks and capitalize on growth opportunities in the attractive, high-growth Eastern Massachusetts markets.”

The proposed acquisition provides significant scale in Eastern Massachusetts. The combined franchise will operate its corporate headquarters, four branches and three lending offices in Greater Boston, and an additional 15 branches in and around Worcester, with $3 billion in loans and $2 billion in deposits. On completion of the deal, Berkshire Bank will have 113 branches serving customers across the Northeast.

“Relocating our corporate headquarters to Boston’s financial district is a well-timed move that will make us stronger by driving value and adding jobs that will benefit our employees and customers across our footprint,” said Sean A. Gray, chief operating officer. “As a successful regional bank, having our headquarters in a strong hub for the financial services industry provides economic value and takes advantage of the largest New England market to fuel growth, increase our ability capitalize on our investment in all of our communities.”