WILLIMANTIC — SI Financial Group Inc., holding company for Savings Institute Bank and Trust Company, announced Tuesday that its stockholders had approved the company's merger with Boston-based Berkshire Hills Bancorp Inc. The stockholders also approved a nonbinding proposal with respect to merger-related compensation payable to the executive officers of the company.
The merger is expected to close in the second quarter, subject to regulatory approvals. SI Financial has 23 branches in Connecticut and Rhode Island. Berkshire Hills is a publicly traded company with a market capitalization of $1.26 billion.