• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Helper
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees for your businessNEW
    Legal
    Terms of usePrivacy policyCookie policy

    Brookline Bancorp Announces Fourth Quarter Results

    1/29/25 4:05:03 PM ET
    $BRKL
    Savings Institutions
    Finance
    Get the next $BRKL alert in real time by email

    Net Income of $17.5 million, EPS of $0.20

    Operating Earnings of $20.7 million, Operating EPS of $0.23

    Quarterly Dividend of $0.135

    BOSTON, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Brookline Bancorp, Inc. (NASDAQ:BRKL) (the "Company") today announced net income of $17.5 million, or $0.20 per basic and diluted share, and excluding $3.4 million of merger-related charges, operating earnings after tax (non-GAAP) of $20.7 million, or $0.23 per basic and diluted share for the fourth quarter of 2024, compared to net income and operating earnings after tax (non-GAAP) of $20.1 million, or $0.23 per basic and diluted share, for the third quarter of 2024, and $22.9 million, or $0.26 per basic and diluted share, for the fourth quarter of 2023.

    For the year ended December 31, 2024, the Company reported net income of $68.7 million, or $0.77 per basic and diluted share, compared to $75.0 million, or $0.85 per basic and diluted share, for the year ended December 31, 2023. For the year ended December 31, 2024, the Company reported operating earnings after tax (non-GAAP) of $72.4 million, or $0.81 per basic and diluted share, compared to $92.9 million, or $1.05 per basic and diluted share, for the year ended December 31, 2023.

    Paul Perrault, Chairman and Chief Executive Officer, commented on the Company's performance, "Brookline Bancorp had an excellent year in 2024. We finished the year with solid deposit and loan growth and are well positioned as we look forward to 2025. We are looking forward to 2025 and our recently announced strategic merger with Berkshire Hills Bancorp. I would like to recognize the contributions of our employees in contributing to our growth and success in 2024. Our employees exemplify the Brookline Bancorp culture of providing excellent customer service."

    BALANCE SHEET

    Total assets at December 31, 2024 increased $228.6 million to $11.9 billion from $11.7 billion at September 30, 2024, and increased $523.1 million from $11.4 billion at December 31, 2023. At December 31, 2024, total loans and leases were $9.8 billion, representing an increase of $24.1 million from September 30, 2024, and an increase of $137.7 million from December 31, 2023.

    Total investment securities at December 31, 2024 increased $39.6 million to $895.0 million from $855.4 million at September 30, 2024, and decreased $21.6 million from $916.6 million at December 31, 2023. Total cash and cash equivalents at December 31, 2024 increased $135.8 million to $543.7 million from $407.9 million at September 30, 2024, and increased $410.6 million from $133.0 million at December 31, 2023. As of December 31, 2024, total investment securities and total cash and cash equivalents represented 12.1 percent of total assets, compared to 10.8 percent and 9.2 percent as of September 30, 2024 and December 31, 2023, respectively.

    Total deposits at December 31, 2024 increased $169.4 million to $8.9 billion from $8.7 billion at September 30, 2024, consisting of a $115.9 million increase in customer deposits and a $53.4 million increase in brokered deposits. Total deposits increased $353.5 million from $8.5 billion at December 31, 2023, primarily driven by growth in customer deposits.

    Total borrowed funds at December 31, 2024 increased $22.3 million to $1.5 billion from September 30, 2024, and increased $143.2 million from $1.4 billion at December 31, 2023.

    The ratio of stockholders' equity to total assets was 10.26 percent at December 31, 2024, as compared to 10.54 percent at September 30, 2024, and 10.53 percent at December 31, 2023. The ratio of tangible stockholders' equity to tangible assets (non-GAAP) was 8.27 percent at December 31, 2024, as compared to 8.50 percent at September 30, 2024, and 8.39 percent at December 31, 2023. Tangible book value per common share (non-GAAP) decreased $0.08 from $10.89 at September 30, 2024 to $10.81 at December 31, 2024, and increased $0.31 from $10.50 at December 31, 2023.

    NET INTEREST INCOME

    Net interest income increased $2.0 million to $85.0 million during the fourth quarter of 2024 from $83.0 million for the quarter ended September 30, 2024. The net interest margin increased 5 basis points to 3.12 percent for the three months ended December 31, 2024 from 3.07 percent for the three months ended September 30, 2024, primarily driven by lower funding costs partially offset by lower yields on loans and leases.

    NON-INTEREST INCOME

    Total non-interest income for the quarter ended December 31, 2024 increased $0.2 million to $6.6 million from $6.3 million for the quarter ended September 30, 2024. The increase was primarily driven by an increase of $1.1 million in loan level derivative income, net, partially offset by a decline of $0.8 million in mark to market on interest rate swaps.

    PROVISION FOR CREDIT LOSSES

    The Company recorded a provision for credit losses of $4.1 million for the quarter ended December 31, 2024, compared to $4.8 million for the quarter ended September 30, 2024. The decrease in the provision was largely driven by improving economic forecasts and stabilization in the volume of adversely graded credits.

    Total net charge-offs for the fourth quarter of 2024 were $7.3 million, compared to $3.8 million in the third quarter of 2024. The $7.3 million in net charge-offs was driven by one large $5.1 million charge-off in equipment financing which was previously reserved for. The ratio of net loan and lease charge-offs to average loans and leases on an annualized basis increased to 30 basis points for the fourth quarter of 2024 from 16 basis points for the third quarter of 2024.

    The allowance for loan and lease losses represented 1.28 percent of total loans and leases at December 31, 2024, compared to 1.31 percent at September 30, 2024, and 1.22 percent at December 31, 2023. The decrease in the ratio was driven by a reduction in specific reserves due to charge-offs in the quarter.

    ASSET QUALITY

    The ratio of total nonperforming loans and leases to total loans and leases was 0.71 percent at December 31, 2024 as compared to 0.73 percent at September 30, 2024. Total nonaccrual loans and leases decreased $1.9 million to $69.3 million at December 31, 2024 from $71.2 million at September 30, 2024. The ratio of nonperforming assets to total assets was 0.59 percent at December 31, 2024 as compared to 0.62 percent at September 30, 2024. Total nonperforming assets decreased $2.4 million to $70.5 million at December 31, 2024 from $72.8 million at September 30, 2024.

    NON-INTEREST EXPENSE

    Non-interest expense for the quarter ended December 31, 2024 increased $5.8 million to $63.7 million from $57.9 million for the quarter ended September 30, 2024. The increase was primarily driven by an increase of $3.4 million in merger and acquisition expense, and an increase of $2.1 million in compensation and employee benefits expense.

    PROVISION FOR INCOME TAXES

    The effective tax rate was 26.4 percent and 25.1 percent for the three and twelve months ended December 31, 2024 compared to 24.7 percent for the three months ended September 30, 2024 and 19.9 percent and 20.1 percent for the three and twelve months ended December 31, 2023.

    RETURNS ON AVERAGE ASSETS AND AVERAGE EQUITY

    The annualized return on average assets decreased to 0.61 percent during the fourth quarter of 2024 compared to 0.70 percent for the third quarter of 2024; and was 0.60 percent for the year ended December 31, 2024, compared to 0.67 percent for the year ended December 31, 2023.

    The annualized return on average tangible stockholders' equity (non-GAAP) decreased to 7.21 percent during the fourth quarter of 2024 compared to 8.44 percent for the third quarter of 2024; and was 7.24 percent for the year ended December 31, 2024 compared to 8.36 percent for the year ended December 31, 2023.

    DIVIDEND DECLARED

    The Company's Board of Directors approved a dividend of $0.135 per share for the quarter ended December 31, 2024. The dividend will be paid on February 28, 2025 to stockholders of record on February 14, 2025.

    PROPOSED TRANSACTION WITH BERKSHIRE HILLS BANCORP, INC.

    On December 16, 2024, the Company, Berkshire Hills Bancorp, Inc. ("Berkshire"), and Commerce Acquisition Sub, Inc., a Delaware corporation and wholly-owned subsidiary of the Berkshire formed solely to facilitate the merger ("Merger Sub"), entered into an Agreement and Plan of Merger (the "Merger Agreement"). The Merger Agreement provides that, upon the terms and subject to the conditions set forth therein, Merger Sub will merge with and into Brookline, with Brookline as the surviving entity, and immediately thereafter, Brookline will merge with and into Berkshire, with Berkshire as the surviving entity (collectively, the "Merger"). As a result of the Merger, the separate corporate existence of the Company will cease, and Berkshire will continue as the surviving corporation. Under the terms of the Merger Agreement, which was unanimously approved by the Boards of Directors of both companies, each outstanding share of Company common stock will be exchanged for the right to receive 0.42 shares of Berkshire common stock. Holders of Company common stock will receive cash in lieu of fractional shares of Berkshire common stock. As a result of the proposed transaction and a $100 million common stock offering by Berkshire to support the proposed transaction, Berkshire stockholders will own approximately 51%, Brookline stockholders will own approximately 45%, and investors in new shares will own approximately 4% of the outstanding shares of the combined company. The proposed transaction is expected to close by the end of the second half of 2025, subject to satisfaction of customary closing conditions, including receipt of required regulatory approvals and approvals from Berkshire and the Company stockholders.

    CONFERENCE CALL

    The Company will conduct a conference call/webcast at 1:30 PM Eastern Time on Thursday, January 30, 2025 to discuss the results for the quarter, business highlights and outlook. A copy of the Earnings Presentation is available on the Company's website, www.brooklinebancorp.com. To listen to the call and view the Company's Earnings Presentation, please join the call via https://events.q4inc.com/attendee/129324302. To listen to the call without access to the slides, please dial 833-470-1428 (United States) or 404-975-4839 (internationally) and ask for the Brookline Bancorp, Inc. call (Access Code 138268). A recording of the call will be available for one week following the call on the Company's website under "Investor Relations" or by dialing 866-813-9403 (United States) or 929-458-6194 (internationally) and entering the passcode: 646121.

    ABOUT BROOKLINE BANCORP, INC.

    Brookline Bancorp, Inc., a bank holding company with approximately $11.9 billion in assets and branch locations in eastern Massachusetts, Rhode Island and the Lower Hudson Valley of New York State, is headquartered in Boston, Massachusetts and operates as the holding company for Brookline Bank, Bank Rhode Island, and PCSB Bank. The Company provides commercial and retail banking services and cash management and investment services to customers throughout Central New England and the Lower Hudson Valley of New York State. More information about Brookline Bancorp, Inc. and its banks can be found at the following websites: www.brooklinebank.com, www.bankri.com and www.pcsb.com.

    FORWARD-LOOKING STATEMENTS

    Certain statements contained in this press release that are not historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We may also make forward-looking statements in other documents we file with the Securities and Exchange Commission ("SEC"), in our annual reports to shareholders, in press releases and other written materials, and in oral statements made by our officers, directors or employees. You can identify forward looking statements by the use of the words "believe," "expect," "anticipate," "intend," "estimate," "assume," "outlook," "will," "should," and other expressions that predict or indicate future events and trends and which do not relate to historical matters, including statements regarding the Company's business, credit quality, financial condition, liquidity and results of operations. Forward-looking statements may differ, possibly materially, from what is included in this press release due to factors and future developments that are uncertain and beyond the scope of the Company's control. These include, but are not limited to, the occurrence of any event, change or other circumstances that could give rise to the right of the Company or Berkshire to terminate the merger agreement; the outcome of any legal proceedings that may be instituted against Berkshire or Company; delays in completing the proposed transaction with Berkshire; the failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the proposed transaction) or stockholder approvals, or to satisfy any of the other conditions to the proposed transaction on a timely basis or at all, including the ability of Berkshire and the Company to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction; the impact of certain restrictions during the pendency of the proposed transaction on the parties' ability to pursue certain business opportunities and strategic transactions; diversion of management's attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the proposed transaction; changes in interest rates; general economic conditions (including inflation and concerns about liquidity) on a national basis or in the local markets in which the Company operates; turbulence in the capital and debt markets; competitive pressures from other financial institutions; changes in consumer behavior due to changing political, business and economic conditions, or legislative or regulatory initiatives; changes in the value of securities and other assets in the Company's investment portfolio; increases in loan and lease default and charge-off rates; the adequacy of allowances for loan and lease losses; decreases in deposit levels that necessitate increases in borrowing to fund loans and investments; operational risks including, but not limited to, cybersecurity incidents, fraud, natural disasters, and future pandemics; changes in regulation; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions and adverse economic developments; the risk that goodwill and intangibles recorded in the Company's financial statements will become impaired; and changes in assumptions used in making such forward-looking statements. Forward-looking statements involve risks and uncertainties which are difficult to predict. The Company's actual results could differ materially from those projected in the forward-looking statements as a result of, among others, the risks outlined in the Company's Annual Report on Form 10-K, as updated by its Quarterly Reports on Form 10-Q and other filings submitted to the SEC. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made.

    BASIS OF PRESENTATION

    The Company's consolidated financial statements have been prepared in conformity with generally accepted accounting principles ("GAAP") as set forth by the Financial Accounting Standards Board in its Accounting Standards Codification and through the rules and interpretive releases of the SEC under the authority of federal securities laws. Certain amounts previously reported have been reclassified to conform to the current period's presentation.

    NON-GAAP FINANCIAL MEASURES

    The Company uses certain non-GAAP financial measures, such as operating earnings after tax, operating earnings per common share, operating return on average assets, operating return on average tangible assets, operating return on average stockholders' equity, operating return on average tangible stockholders' equity, tangible book value per common share, tangible stockholders' equity to tangible assets, return on average tangible assets (annualized) and return on average tangible stockholders' equity (annualized). These non-GAAP financial measures provide information for investors to effectively analyze financial trends of ongoing business activities, and to enhance comparability with peers across the financial services sector. A detailed reconciliation table of the Company's GAAP to the non-GAAP measures is attached.

    INVESTOR RELATIONS:

    Contact:Carl M. Carlson

    Brookline Bancorp, Inc.

    Co-President and Chief Financial and Strategy Officer

    (617) 425-5331

    [email protected]



     
    BROOKLINE BANCORP, INC. AND SUBSIDIARIES
    Selected Financial Highlights (Unaudited)
     
     At and for the Three Months EndedAt and for the Twelve

    Months Ended
     December 31,

    2024
    September 30,

    2024
    June 30,

    2024
    March 31,

    2024
    December 31,

    2023
    December 31,

    2024
    December 31,

    2023
     (Dollars In Thousands Except per Share Data)
    Earnings Data:       
    Net interest income$84,988 $83,008 $80,001 $81,588 $83,555 $329,585 $339,711 
    Provision for credit losses on loans 4,141  4,832  5,607  7,423  3,851  22,003  37,868 
    Provision (credit) for credit losses on investments (104) (172) (39) (44) (76) (359) 339 
    Non-interest income 6,587  6,348  6,396  6,284  8,027  25,615  31,934 
    Non-interest expense 63,719  57,948  59,184  61,014  59,244  241,865  239,524 
    Income before provision for income taxes 23,819  26,748  21,645  19,479  28,563  91,691  93,914 
    Net income 17,536  20,142  16,372  14,665  22,888  68,715  74,999 
            
    Performance Ratios:       
    Net interest margin (1) 3.12% 3.07% 3.00% 3.06% 3.15% 3.06% 3.24%
    Interest-rate spread (1) 2.35% 2.26% 2.14% 2.21% 2.39% 2.24% 2.50%
    Return on average assets (annualized) 0.61% 0.70% 0.57% 0.51% 0.81% 0.60% 0.67%
    Return on average tangible assets (annualized) (non-GAAP) 0.62% 0.72% 0.59% 0.53% 0.83% 0.61% 0.69%
    Return on average stockholders' equity (annualized) 5.69% 6.63% 5.49% 4.88% 7.82% 5.67% 6.42%
    Return on average tangible stockholders' equity (annualized) (non-GAAP) 7.21% 8.44% 7.04% 6.26% 10.12% 7.24% 8.36%
    Efficiency ratio (2) 69.58% 64.85% 68.50% 69.44% 64.69% 68.09% 64.45%
            
    Per Common Share Data:       
    Net income — Basic$0.20 $0.23 $0.18 $0.16 $0.26 $0.77 $0.85 
    Net income — Diluted 0.20  0.23  0.18  0.16  0.26  0.77  0.85 
    Cash dividends declared 0.135  0.135  0.135  0.135  0.135  0.540  0.540 
    Book value per share (end of period) 13.71  13.81  13.48  13.43  13.48  13.71  13.48 
    Tangible book value per common share (end of period) (non-GAAP) 10.81  10.89  10.53  10.47  10.50  10.81  10.50 
    Stock price (end of period) 11.80  10.09  8.35  9.96  10.91  11.80  10.91 
            
    Balance Sheet:       
    Total assets$11,905,326 $11,676,721 $11,635,292 $11,542,731 $11,382,256 $11,905,326 $11,382,256 
    Total loans and leases 9,779,288  9,755,236  9,721,137  9,655,086  9,641,589  9,779,288  9,641,589 
    Total deposits 8,901,644  8,732,271  8,737,036  8,718,653  8,548,125  8,901,644  8,548,125 
    Total stockholders' equity 1,221,939  1,230,362  1,198,480  1,194,231  1,198,644  1,221,939  1,198,644 
            
    Asset Quality:       
    Nonperforming assets$70,452 $72,821 $62,683 $42,489 $45,324 $70,452 $45,324 
    Nonperforming assets as a percentage of total assets 0.59% 0.62% 0.54% 0.37% 0.40% 0.59% 0.40%
    Allowance for loan and lease losses$125,083 $127,316 $121,750 $120,124 $117,522 $125,083 $117,522 
    Allowance for loan and lease losses as a percentage of total loans and leases 1.28% 1.31% 1.25% 1.24% 1.22% 1.28% 1.22%
    Net loan and lease charge-offs$7,252 $3,808 $8,387 $8,781 $7,141 $28,228 $19,663 
    Net loan and lease charge-offs as a percentage of average loans and leases (annualized) 0.30% 0.16% 0.35% 0.36% 0.30% 0.29% 0.21%
            
    Capital Ratios:       
    Stockholders' equity to total assets 10.26% 10.54% 10.30% 10.35% 10.53% 10.26% 10.53%
    Tangible stockholders' equity to tangible assets (non-GAAP) 8.27% 8.50% 8.23% 8.25% 8.39% 8.27% 8.39%
            
    (1) Calculated on a fully tax-equivalent basis.
    (2) Calculated as non-interest expense as a percentage of net interest income plus non-interest income.
            



    BROOKLINE BANCORP, INC. AND SUBSIDIARIES
    Consolidated Balance Sheets (Unaudited)
     
     December 31,

    2024
    September 30,

    2024
    June 30,

    2024
    March 31,

    2024
    December 31,

    2023
    ASSETS(In Thousands Except Share Data)
    Cash and due from banks$64,673 $82,168 $60,067 $45,708 $34,514 
    Short-term investments 478,997  325,721  283,017  256,178  98,513 
    Total cash and cash equivalents 543,670  407,889  343,084  301,886  133,027 
    Investment securities available-for-sale 895,034  855,391  856,439  865,798  916,601 
    Total investment securities 895,034  855,391  856,439  865,798  916,601 
    Allowance for investment security losses (82) (186) (359) (398) (441)
    Net investment securities 894,952  855,205  856,080  865,400  916,160 
    Loans and leases held-for-sale —  —  —  6,717  — 
    Loans and leases:     
    Commercial real estate loans 5,716,114  5,779,290  5,782,111  5,755,239  5,764,529 
    Commercial loans and leases 2,506,664  2,453,038  2,443,530  2,416,904  2,399,668 
    Consumer loans 1,556,510  1,522,908  1,495,496  1,482,943  1,477,392 
    Total loans and leases 9,779,288  9,755,236  9,721,137  9,655,086  9,641,589 
    Allowance for loan and lease losses (125,083) (127,316) (121,750) (120,124) (117,522)
    Net loans and leases 9,654,205  9,627,920  9,599,387  9,534,962  9,524,067 
    Restricted equity securities 83,155  82,675  78,963  74,709  77,595 
    Premises and equipment, net of accumulated depreciation 86,781  86,925  88,378  89,707  89,853 
    Right-of-use asset operating leases 43,527  41,934  35,691  33,133  30,863 
    Deferred tax asset 56,620  50,827  60,032  60,484  56,952 
    Goodwill 241,222  241,222  241,222  241,222  241,222 
    Identified intangible assets, net of accumulated amortization 17,461  19,162  20,830  22,499  24,207 
    Other real estate owned and repossessed assets 1,103  1,579  1,974  1,817  1,694 
    Other assets 282,630  261,383  309,651  310,195  286,616 
    Total assets$11,905,326 $11,676,721 $11,635,292 $11,542,731 $11,382,256 
    LIABILITIES AND STOCKHOLDERS' EQUITY     
    Deposits:     
    Demand checking accounts$1,692,394 $1,681,858 $1,638,378 $1,629,371 $1,678,406 
    NOW accounts 617,246  637,374  647,370  654,748  661,863 
    Savings accounts 1,721,247  1,736,989  1,735,857  1,727,893  1,669,018 
    Money market accounts 2,116,360  2,041,185  2,073,557  2,065,569  2,082,810 
    Certificate of deposit accounts 1,885,444  1,819,353  1,718,414  1,670,147  1,574,855 
    Brokered deposit accounts 868,953  815,512  923,460  970,925  881,173 
    Total deposits 8,901,644  8,732,271  8,737,036  8,718,653  8,548,125 
    Borrowed funds:     
    Advances from the FHLB 1,355,926  1,345,003  1,265,079  1,150,153  1,223,226 
    Subordinated debentures and notes 84,328  84,293  84,258  84,223  84,188 
    Other borrowed funds 79,592  68,251  80,125  127,505  69,256 
    Total borrowed funds 1,519,846  1,497,547  1,429,462  1,361,881  1,376,670 
    Operating lease liabilities 44,785  43,266  37,102  34,235  31,998 
    Mortgagors' escrow accounts 15,875  14,456  17,117  16,245  17,239 
    Reserve for unfunded credits 5,981  6,859  11,400  15,807  19,767 
    Accrued expenses and other liabilities 195,256  151,960  204,695  201,679  189,813 
    Total liabilities 10,683,387  10,446,359  10,436,812  10,348,500  10,183,612 
    Stockholders' equity:     
    Common stock, $0.01 par value; 200,000,000 shares authorized; 96,998,075 shares issued, 96,998,075 shares issued, 96,998,075 shares issued, 96,998,075 shares issued, and 96,998,075 shares issued, respectively 970  970  970  970  970 
    Additional paid-in capital 902,584  901,562  904,775  903,726  902,659 
    Retained earnings 458,943  453,555  445,560  441,285  438,722 
    Accumulated other comprehensive income (52,882) (38,081) (61,693) (60,841) (52,798)
    Treasury stock, at cost;     
    7,019,384 shares, 7,015,843 shares, 7,373,009 shares, 7,354,399 shares, and 7,354,399 shares, respectively (87,676) (87,644) (91,132) (90,909) (90,909)
    Total stockholders' equity 1,221,939  1,230,362  1,198,480  1,194,231  1,198,644 
    Total liabilities and stockholders' equity$11,905,326 $11,676,721 $11,635,292 $11,542,731 $11,382,256 
          



    BROOKLINE BANCORP, INC. AND SUBSIDIARIES
    Consolidated Statements of Income (Unaudited)
     
     Three Months Ended
     December 31,

    2024
    September 30,

    2024
    June 30,

    2024
    March 31,

    2024
    December 31,

    2023
     (In Thousands Except Share Data)
    Interest and dividend income:     
    Loans and leases$147,436 $149,643 $145,585 $145,265 $142,948 
    Debt securities 6,421  6,473  6,480  6,878  6,945 
    Restricted equity securities 1,460  1,458  1,376  1,492  1,333 
    Short-term investments 2,830  1,986  1,914  1,824  1,093 
    Total interest and dividend income 158,147  159,560  155,355  155,459  152,319 
    Interest expense:     
    Deposits 56,562  59,796  59,721  56,884  54,034 
    Borrowed funds 16,597  16,756  15,633  16,987  14,730 
    Total interest expense 73,159  76,552  75,354  73,871  68,764 
    Net interest income 84,988  83,008  80,001  81,588  83,555 
    Provision for credit losses on loans 4,141  4,832  5,607  7,423  3,851 
    Credit for credit losses on investments (104) (172) (39) (44) (76)
    Net interest income after provision for credit losses 80,951  78,348  74,433  74,209  79,780 
    Non-interest income:     
    Deposit fees 2,297  2,353  3,001  2,897  3,064 
    Loan fees 439  464  702  789  515 
    Loan level derivative income, net 1,115  —  106  437  778 
    Gain on sales of loans and leases 406  415  130  —  410 
    Other 2,330  3,116  2,457  2,161  3,260 
    Total non-interest income 6,587  6,348  6,396  6,284  8,027 
    Non-interest expense:     
    Compensation and employee benefits 37,202  35,130  34,762  36,629  35,401 
    Occupancy 5,393  5,343  5,551  5,769  5,127 
    Equipment and data processing 6,780  6,831  6,732  7,031  7,245 
    Professional services 1,345  2,143  1,745  1,900  1,442 
    FDIC insurance 2,017  2,118  2,025  1,884  1,839 
    Advertising and marketing 1,303  859  1,504  1,574  758 
    Amortization of identified intangible assets 1,701  1,668  1,669  1,708  1,965 
    Merger and restructuring expense 3,378  —  823  —  — 
    Other 4,600  3,856  4,373  4,519  5,467 
    Total non-interest expense 63,719  57,948  59,184  61,014  59,244 
    Income before provision for income taxes 23,819  26,748  21,645  19,479  28,563 
    Provision for income taxes 6,283  6,606  5,273  4,814  5,675 
    Net income$17,536 $20,142 $16,372 $14,665 $22,888 
    Earnings per common share:     
    Basic$0.20 $0.23 $0.18 $0.16 $0.26 
    Diluted$0.20 $0.23 $0.18 $0.16 $0.26 
    Weighted average common shares outstanding during the period:    
    Basic 89,098,443  89,033,463  88,904,692  88,894,577  88,867,159 
    Diluted 89,483,964  89,319,611  89,222,315  89,181,508  89,035,505 
    Dividends paid per common share$0.135 $0.135 $0.135 $0.135 $0.135 
          



    BROOKLINE BANCORP, INC. AND SUBSIDIARIES
    Consolidated Statements of Income (Unaudited)
      
     Twelve Months Ended December 31,
     20242023
     (In Thousands Except Share Data)
    Interest and dividend income:  
    Loans and leases$587,929 $533,739
    Debt securities 26,252  29,648
    Restricted equity securities 5,786  5,571
    Short-term investments 8,554  8,329
    Total interest and dividend income 628,521  577,287
    Interest expense:  
    Deposits 232,963  175,665
    Borrowed funds 65,973  61,911
    Total interest expense 298,936  237,576
    Net interest income 329,585  339,711
    Provision for credit losses on loans 22,003  37,868
    (Credit) provision for credit losses on investments (359) 339
    Net interest income after provision for credit losses 307,941  301,504
    Non-interest income:  
    Deposit fees 10,548  11,611
    Loan fees 2,394  2,036
    Loan level derivative income, net 1,658  3,890
    Gain on investment securities, net —  1,704
    Gain on sales of loans and leases 951  2,581
    Other 10,064  10,112
    Total non-interest income 25,615  31,934
    Non-interest expense:  
    Compensation and employee benefits 143,723  138,895
    Occupancy 22,056  20,203
    Equipment and data processing 27,374  27,004
    Professional services 7,133  7,226
    FDIC insurance 8,044  7,844
    Advertising and marketing 5,240  4,724
    Amortization of identified intangible assets 6,746  7,840
    Merger and restructuring expense 4,201  7,411
    Other 17,348  18,377
    Total non-interest expense 241,865  239,524
    Income before provision for income taxes 91,691  93,914
    Provision for income taxes 22,976  18,915
    Net income$68,715 $74,999
    Earnings per common share:  
    Basic$0.77 $0.85
    Diluted$0.77 $0.85
    Weighted average common shares outstanding during the period: 
    Basic 88,983,248  88,230,681
    Diluted 89,302,304  88,450,646
    Dividends paid per common share$0.540 $0.540
       



    BROOKLINE BANCORP, INC. AND SUBSIDIARIES
    Asset Quality Analysis (Unaudited)
     
     At and for the Three Months Ended
     December 31,

    2024
    September 30,

    2024
    June 30,

    2024
    March 31,

    2024
    December 31,

    2023
     (Dollars in Thousands)
    NONPERFORMING ASSETS:     
    Loans and leases accounted for on a nonaccrual basis:     
    Commercial real estate mortgage$11,525 $11,595 $11,659 $18,394 $19,608 
    Multi-family mortgage 6,596  1,751  —  —  — 
    Construction —  —  —  —  — 
    Total commercial real estate loans 18,121  13,346  11,659  18,394  19,608 
          
    Commercial 14,676  15,734  16,636  3,096  3,886 
    Equipment financing 31,509  37,223  27,128  13,668  14,984 
    Total commercial loans and leases 46,185  52,957  43,764  16,764  18,870 
          
    Residential mortgage 3,999  3,862  4,495  4,563  4,292 
    Home equity 1,043  1,076  790  950  860 
    Other consumer 1  1  1  1  — 
    Total consumer loans 5,043  4,939  5,286  5,514  5,152 
          
    Total nonaccrual loans and leases 69,349  71,242  60,709  40,672  43,630 
          
    Other real estate owned 700  780  780  780  780 
    Other repossessed assets 403  799  1,194  1,037  914 
    Total nonperforming assets$70,452 $72,821 $62,683 $42,489 $45,324 
          
    Loans and leases past due greater than 90 days and still accruing$811 $16,091 $4,994 $363 $228 
          
    Nonperforming loans and leases as a percentage of total loans and leases 0.71% 0.73% 0.62% 0.42% 0.45%
    Nonperforming assets as a percentage of total assets 0.59% 0.62% 0.54% 0.37% 0.40%
          
    PROVISION AND ALLOWANCE FOR LOAN AND LEASE LOSSES:   
    Allowance for loan and lease losses at beginning of period$127,316 $121,750 $120,124 $117,522 $119,081 
    Charge-offs (8,414) (4,183) (8,823) (5,390) (7,722)
    Recoveries 1,162  375  436  309  581 
    Net charge-offs (7,252) (3,808) (8,387) (5,081) (7,141)
    Provision for loan and lease losses excluding unfunded commitments * 5,019  9,374  10,013  7,683  5,582 
    Allowance for loan and lease losses at end of period$125,083 $127,316 $121,750 $120,124 $117,522 
          
    Allowance for loan and lease losses as a percentage of total loans and leases 1.28% 1.31% 1.25% 1.24% 1.22%
          
    NET CHARGE-OFFS:     
    Commercial real estate loans$— $— $3,819 $606 $1,087 
    Commercial loans and leases ** 7,257  3,797  4,571  8,179  6,061 
    Consumer loans (5) 11  (3) (4) (7)
    Total net charge-offs$7,252 $3,808 $8,387 $8,781 $7,141 
          
    Net loan and lease charge-offs as a percentage of average loans and leases (annualized) 0.30% 0.16% 0.35% 0.36% 0.30%
          
    *Provision for loan and lease losses does not include (credit) provision of $(0.9 million), $(4.5 million), $(4.4 million), $(0.3 million), and $(1.7 million) for credit losses on unfunded commitments during the three months ended December 31, 2024, September 30, 2024, June 30, 2024, March 31, 2024, and December 31, 2023, respectively.
    ** The balance at March 31, 2024 includes a $3.7 million charge-off on a letter of credit which impacted the provision.
          



    BROOKLINE BANCORP, INC. AND SUBSIDIARIES
    Average Yields / Costs (Unaudited)
     
     Three Months Ended
     December 31, 2024September 30, 2024December 31, 2023
     Average

    Balance
    Interest (1)Average

    Yield/

    Cost
    Average

    Balance
    Interest (1)Average

    Yield/

    Cost
    Average

    Balance
    Interest (1)Average

    Yield/

    Cost
     (Dollars in Thousands)
    Assets:         
    Interest-earning assets:         
    Investments:         
    Debt securities (2)$856,065$6,4633.02%$853,924$6,5163.05%$876,350$6,9863.19%
    Restricted equity securities (2) 75,879 1,4597.69% 75,225 1,4597.76% 67,567 1,3347.90%
    Short-term investments 236,784 2,8304.78% 145,838 1,9865.44% 85,790 1,0935.09%
    Total investments 1,168,728 10,7523.68% 1,074,987 9,9613.71% 1,029,707 9,4133.66%
    Loans and Leases:         
    Commercial real estate loans (3) 5,752,591 81,1955.52% 5,772,456 83,4125.65% 5,727,930 81,6535.58%
    Commercial loans (3) 1,170,295 19,7506.61% 1,079,084 18,4406.69% 969,603 16,2966.58%
    Equipment financing (3) 1,310,143 26,2958.03% 1,353,649 26,8847.94% 1,347,589 25,2117.48%
    Consumer loans (3) 1,529,654 20,8815.44% 1,505,095 21,1235.60% 1,475,580 19,8885.37%
    Total loans and leases 9,762,683 148,1216.07% 9,710,284 149,8596.17% 9,520,702 143,0486.01%
    Total interest-earning assets 10,931,411 158,8735.81% 10,785,271 159,8205.93% 10,550,409 152,4615.78%
    Non-interest-earning assets 649,161   666,067   721,532  
    Total assets$11,580,572  $11,451,338  $11,271,941  
              
    Liabilities and Stockholders' Equity:         
    Interest-bearing liabilities:         
    Deposits:         
    NOW accounts$630,408 1,0560.67%$639,561 1,1150.69%$657,134 1,1460.69%
    Savings accounts 1,741,355 10,8962.49% 1,738,756 12,0982.77% 1,658,144 10,6842.56%
    Money market accounts 2,083,033 13,8562.65% 2,038,048 15,4663.02% 2,140,225 16,2393.01%
    Certificates of deposit 1,857,483 20,6914.43% 1,768,026 20,0544.51% 1,530,772 14,5173.76%
    Brokered deposit accounts 797,910 10,0635.02% 841,067 11,0635.23% 880,604 11,4485.16%
    Total interest-bearing deposits 7,110,189 56,5623.16% 7,025,458 59,7963.39% 6,866,879 54,0343.12%
    Borrowings:         
    Advances from the FHLB 1,144,157 13,9584.77% 1,139,049 14,3664.94% 965,846 11,9434.84%
    Subordinated debentures and notes 84,311 1,9449.22% 84,276 1,3786.54% 84,170 1,3816.56%
    Other borrowed funds 65,947 6954.20% 53,102 1,0127.58% 136,566 1,4064.09%
    Total borrowings 1,294,415 16,5975.02% 1,276,427 16,7565.14% 1,186,582 14,7304.86%
    Total interest-bearing liabilities 8,404,604 73,1593.46% 8,301,885 76,5523.67% 8,053,461 68,7643.39%
    Non-interest-bearing liabilities:         
    Demand checking accounts 1,693,138   1,669,092   1,723,849  
    Other non-interest-bearing liabilities 250,303   264,324   323,855  
    Total liabilities 10,348,045   10,235,301   10,101,165  
    Stockholders' equity 1,232,527   1,216,037   1,170,776  
    Total liabilities and equity$11,580,572  $11,451,338  $11,271,941  
    Net interest income (tax-equivalent basis) /Interest-rate spread (4)  85,7142.35%  83,2682.26%  83,6972.39%
    Less adjustment of tax-exempt income  726   260   142 
    Net interest income $84,988  $83,008  $83,555 
    Net interest margin (5)  3.12%  3.07%  3.15%
              
    (1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis.
    (2) Average balances include unrealized gains (losses) on investment securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month.
    (3) Loans on nonaccrual status are included in the average balances.
    (4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.
    (5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets.
              



    BROOKLINE BANCORP, INC. AND SUBSIDIARIES
    Average Yields / Costs (Unaudited)
     
     Twelve Months Ended
     December 31, 2024December 31, 2023
     Average

    Balance
    Interest (1)Average

    Yield/

    Cost
    Average

    Balance
    Interest (1)Average

    Yield/

    Cost
     (Dollars in Thousands)
    Assets:      
    Interest-earning assets:      
    Investments:      
    Debt securities (2)$862,381$26,4163.06%$947,782$29,8913.15%
    Restricted equity securities (2) 74,788 5,7867.74% 72,264 5,5727.71%
    Short-term investments 164,445 8,5545.20% 158,718 8,3295.25%
    Total investments 1,101,614 40,7563.70% 1,178,764 43,7923.72%
    Loans and Leases:      
    Commercial real estate loans (3) 5,760,432 327,2215.59% 5,654,385 307,6525.37%
    Commercial loans (3) 1,086,460 73,3696.65% 929,077 59,1106.28%
    Equipment financing (3) 1,352,993 106,3297.86% 1,277,224 92,1127.21%
    Consumer loans (3) 1,501,626 82,2735.47% 1,470,677 75,0985.10%
    Total loans and leases 9,701,511 589,1926.07% 9,331,363 533,9725.72%
    Total interest-earning assets 10,803,125 629,9485.83% 10,510,127 577,7645.50%
    Non-interest-earning assets 670,299   704,244  
    Total assets$11,473,424  $11,214,371  
           
    Liabilities and Stockholders' Equity:      
    Interest-bearing liabilities:      
    Deposits:      
    NOW accounts$650,225 4,5430.70%$720,572 4,2750.59%
    Savings accounts 1,726,504 46,2202.68% 1,439,293 27,9741.94%
    Money market accounts 2,056,066 60,7962.96% 2,205,430 58,1532.64%
    Certificates of deposit 1,737,697 76,1344.38% 1,428,727 44,1223.09%
    Brokered deposit accounts 873,182 45,2705.18% 819,419 41,1415.02%
    Total interest-bearing deposits 7,043,674 232,9633.31% 6,613,441 175,6652.66%
    Borrowings:      
    Advances from the FHLB 1,124,432 55,8514.89% 1,092,996 52,4674.73%
    Subordinated debentures and notes 84,258 6,0747.21% 84,116 5,4766.51%
    Other borrowed funds 78,859 4,0485.13% 124,793 3,9683.18%
    Total borrowings 1,287,549 65,9735.04% 1,301,905 61,9114.69%
    Total interest-bearing liabilities 8,331,223 298,9363.59% 7,915,346 237,5763.00%
    Non-interest-bearing liabilities:      
    Demand checking accounts 1,657,922   1,823,759  
    Other non-interest-bearing liabilities 273,243   307,160  
    Total liabilities 10,262,388   10,046,265  
    Stockholders' equity 1,211,036   1,168,106  
    Total liabilities and equity$11,473,424  $11,214,371  
    Net interest income (tax-equivalent basis) /Interest-rate spread (4)  331,0122.24%  340,1882.50%
    Less adjustment of tax-exempt income  1,427   477 
    Net interest income $329,585  $339,711 
    Net interest margin (5)  3.06%  3.24%
           
    (1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis.
    (2) Average balances include unrealized gains (losses) on investment securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month.
    (3) Loans on nonaccrual status are included in the average balances.
    (4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.
    (5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets.
           



    BROOKLINE BANCORP, INC. AND SUBSIDIARIES
    Non-GAAP Financial Information (Unaudited)
         
       At and for the Three Months Ended

    December 31,
    At and for the Twelve Months Ended

    December 31,
        2024202320242023
    Reconciliation Table - Non-GAAP Financial Information (Dollars in Thousands Except Share Data)
           
    Reported Pretax Income  $23,819 $28,563 $91,691 $93,914 
    Less:       
    Security gains —  —  —  1,704 
    Add:       
    Day 1 PCSB CECL provision    —  —  —  16,744 
    Merger and acquisition expenses  3,378  —  4,201  7,411 
    Operating Pretax income $27,197 $28,563 $95,892 $116,365 
    Effective tax rate  23.9% 19.9% 24.5% 20.1%
    Provision for income tax  6,511  5,675  23,480  23,437 
    Operating earnings after tax   $20,686 $22,888 $72,412 $92,928 
            
    Operating earnings per common share:      
    Basic   $0.23 $0.26 $0.81 $1.05 
    Diluted   $0.23 $0.26 $0.81 $1.05 
            
    Weighted average common shares outstanding during the period:     
    Basic    89,098,443  88,867,159  88,983,248  88,230,681 
    Diluted    89,483,964  89,035,505  89,302,304  88,450,646 
            
            
    Return on average assets *   0.61% 0.81% 0.60% 0.67%
    Less:       
    Security gains (after-tax) *   —% —% —% 0.01%
    Add:       
    Day 1 PCSB CECL provision (after-tax) *  —% —% —% 0.12%
    Merger and acquisition expenses (after-tax) *  0.09% —% 0.03% 0.05%
    Operating return on average assets *   0.70% 0.81% 0.63% 0.83%
            
            
    Return on average tangible assets *   0.62% 0.83% 0.61% 0.69%
    Less:       
    Security gains (after-tax) *   —% —% —% 0.01%
    Add:       
    Day 1 PCSB CECL provision (after-tax) *  —% —% —% 0.12%
    Merger and acquisition expenses (after-tax) *  0.09% —% 0.03% 0.05%
    Operating return on average tangible assets *   0.71% 0.83% 0.64% 0.85%
            
            
    Return on average stockholders' equity *   5.69% 7.82% 5.67% 6.42%
    Less:       
    Security gains (after-tax) *   —% —% —% 0.12%
    Add:       
    Day 1 PCSB CECL provision (after-tax) *  —% —% —% 1.14%
    Merger and acquisition expenses (after-tax) *  0.83% —% 0.26% 0.51%
    Operating return on average stockholders' equity *  6.52% 7.82% 5.93% 7.95%
            
            
    Return on average tangible stockholders' equity *  7.21% 10.12% 7.24% 8.36%
    Less:       
    Security gains (after-tax) *   —% —% —% 0.15%
    Add:       
    Day 1 PCSB CECL provision (after-tax) *  —% —% —% 1.49%
    Merger and acquisition expenses (after-tax) *  1.06% —% 0.33% 0.66%
    Operating return on average tangible stockholders' equity *  8.27% 10.12% 7.57% 10.36%
    * Ratios at and for the three months ended are annualized.     
            
    BROOKLINE BANCORP, INC. AND SUBSIDIARIES
    Non-GAAP Financial Information (Unaudited)
     
     At and for the Three Months EndedAt and for the Twelve

    Months Ended
     December 31,

    2024
    September 30,

    2024
    June 30,

    2024
    March 31,

    2024
    December 31,

    2023
    December 31,

    2024
    December 31,

    2023
     (Dollars in Thousands)
            
    Net income, as reported$17,536 $20,142 $16,372 $14,665 $22,888 $68,715 $74,999 
            
    Average total assets$11,580,572 $11,451,338 $11,453,394 $11,417,185 $11,271,941 $11,473,424 $11,214,371 
    Less: Average goodwill and average identified intangible assets, net 259,496  261,188  262,859  264,536  266,225  262,011  270,637 
    Average tangible assets$11,321,076 $11,190,150 $11,190,535 $11,152,649 $11,005,716 $11,211,413 $10,943,734 
            
    Return on average tangible assets (annualized) 0.62 % 0.72 % 0.59 % 0.53 % 0.83 % 0.61 % 0.69 %
            
    Average total stockholders' equity$1,232,527 $1,216,037 $1,193,385 $1,201,904 $1,170,776 $1,211,036 $1,168,106 
    Less: Average goodwill and average identified intangible assets, net 259,496  261,188  262,859  264,536  266,225  262,011  270,637 
    Average tangible stockholders' equity$973,031 $954,849 $930,526 $937,368 $904,551 $949,025 $897,469 
            
    Return on average tangible stockholders' equity (annualized) 7.21 % 8.44 % 7.04 % 6.26 % 10.12 % 7.24 % 8.36 %
            
    Total stockholders' equity$1,221,939 $1,230,362 $1,198,480 $1,194,231 $1,198,644 $1,221,939 $1,198,644 
    Less:       
    Goodwill 241,222  241,222  241,222  241,222  241,222  241,222  241,222 
    Identified intangible assets, net 17,461  19,162  20,830  22,499  24,207  17,461  24,207 
    Tangible stockholders' equity$963,256 $969,978 $936,428 $930,510 $933,215 $963,256 $933,215 
            
    Total assets$11,905,326 $11,676,721 $11,635,292 $11,542,731 $11,382,256 $11,905,326 $11,382,256 
    Less:       
    Goodwill 241,222  241,222  241,222  241,222  241,222  241,222  241,222 
    Identified intangible assets, net 17,461  19,162  20,830  22,499  24,207  17,461  24,207 
    Tangible assets$11,646,643 $11,416,337 $11,373,240 $11,279,010 $11,116,827 $11,646,643 $11,116,827 
            
    Tangible stockholders' equity to tangible assets 8.27 % 8.50 % 8.23 % 8.25 % 8.39 % 8.27 % 8.39 %
            
    Tangible stockholders' equity$963,256 $969,978 $936,428 $930,510 $933,215 $963,256 $933,215 
            
    Number of common shares issued 96,998,075  96,998,075  96,998,075  96,998,075  96,998,075  96,998,075  96,998,075 
    Less:       
    Treasury shares 7,019,384  7,015,843  7,373,009  7,354,399  7,354,399  7,019,384  7,354,399 
    Unvested restricted shares 880,248  883,789  713,443  749,099  749,099  880,248  749,099 
    Number of common shares outstanding 89,098,443  89,098,443  88,911,623  88,894,577  88,894,577  89,098,443  88,894,577 
            
    Tangible book value per common share$ 10.81 $ 10.89 $ 10.53 $ 10.47 $ 10.50 $ 10.81 $ 10.50 



    PDF available: http://ml.globenewswire.com/Resource/Download/396afece-df5e-4cc5-a637-0706599b2b0d



    Primary Logo

    Get the next $BRKL alert in real time by email

    Crush Q3 2025 with the Best AI Executive Assistant

    Stay ahead of the competition with Tailforce.ai - your AI-powered business intelligence partner.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Tailforce.ai

    Recent Analyst Ratings for
    $BRKL

    DatePrice TargetRatingAnalyst
    12/24/2024Outperform → Mkt Perform
    Keefe Bruyette
    12/20/2024$16.00Mkt Perform → Strong Buy
    Raymond James
    12/4/2024$12.00 → $14.50Mkt Perform → Outperform
    Keefe Bruyette
    9/20/2023$10.75Outperform
    Hovde Group
    9/12/2023$12.00Buy
    Seaport Research Partners
    12/21/2022Mkt Perform
    Raymond James
    1/10/2022$18.00Mkt Perform
    Keefe Bruyette
    7/8/2021Outperform → Mkt Perform
    Raymond James
    More analyst ratings

    $BRKL
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Brookline Bancorp downgraded by Keefe Bruyette

      Keefe Bruyette downgraded Brookline Bancorp from Outperform to Mkt Perform

      12/24/24 7:13:15 AM ET
      $BRKL
      Savings Institutions
      Finance
    • Brookline Bancorp upgraded by Raymond James with a new price target

      Raymond James upgraded Brookline Bancorp from Mkt Perform to Strong Buy and set a new price target of $16.00

      12/20/24 7:24:54 AM ET
      $BRKL
      Savings Institutions
      Finance
    • Brookline Bancorp upgraded by Keefe Bruyette with a new price target

      Keefe Bruyette upgraded Brookline Bancorp from Mkt Perform to Outperform and set a new price target of $14.50 from $12.00 previously

      12/4/24 7:28:30 AM ET
      $BRKL
      Savings Institutions
      Finance

    $BRKL
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Hollister Thomas J bought $20,928 worth of Common (2,400 units at $8.72) (SEC Form 4)

      4 - BROOKLINE BANCORP INC (0001049782) (Issuer)

      5/10/24 4:51:36 PM ET
      $BRKL
      Savings Institutions
      Finance
    • Hill Willard I Jr bought $16,878 worth of Common (2,000 units at $8.44), increasing direct ownership by 8% to 25,631 units (SEC Form 4)

      4 - BROOKLINE BANCORP INC (0001049782) (Issuer)

      4/30/24 4:06:35 PM ET
      $BRKL
      Savings Institutions
      Finance
    • Hill Willard I Jr bought $17,100 worth of Common (2,000 units at $8.55), increasing direct ownership by 9% to 23,631 units (SEC Form 4)

      4 - BROOKLINE BANCORP INC (0001049782) (Issuer)

      11/3/23 10:00:45 AM ET
      $BRKL
      Savings Institutions
      Finance

    $BRKL
    SEC Filings

    See more
    • Brookline Bancorp Inc. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders

      8-K - BROOKLINE BANCORP INC (0001049782) (Filer)

      5/22/25 4:35:09 PM ET
      $BRKL
      Savings Institutions
      Finance
    • SEC Form SCHEDULE 13G filed by Brookline Bancorp Inc.

      SCHEDULE 13G - BROOKLINE BANCORP INC (0001049782) (Subject)

      5/13/25 10:34:52 AM ET
      $BRKL
      Savings Institutions
      Finance
    • SEC Form DEFA14A filed by Brookline Bancorp Inc.

      DEFA14A - BROOKLINE BANCORP INC (0001049782) (Filer)

      5/9/25 4:18:57 PM ET
      $BRKL
      Savings Institutions
      Finance

    $BRKL
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Brookline Bancorp Announces First Quarter Results

      Net Income of $19.1 million, EPS of $0.21 Operating Earnings of $20.0 million, Operating EPS of $0.22 Quarterly Dividend of $0.135 BOSTON, April 23, 2025 (GLOBE NEWSWIRE) -- Brookline Bancorp, Inc. (NASDAQ:BRKL) (the "Company") today announced net income of $19.1 million, or $0.21 per basic and diluted share, for the first quarter of 2025, compared to net income of $17.5 million, or $0.20 per basic and diluted share, for the fourth quarter of 2024, and $14.7 million, or $0.16 per basic and diluted share, for the first quarter of 2024. The Company reported operating earnings after tax (non-GAAP) of $20.0 million, or $0.22 per basic and diluted share, for the first quarter of 2025, compar

      4/23/25 4:05:25 PM ET
      $BRKL
      Savings Institutions
      Finance
    • Brookline Bancorp, Inc. Announces First Quarter 2025 Earnings Release Date and Conference Call

      BOSTON, April 07, 2025 (GLOBE NEWSWIRE) -- Brookline Bancorp, Inc. (NASDAQ:BRKL) announced today that it will report first quarter 2025 earnings at the close of business on Wednesday, April 23, 2025. Management will host a conference call to review this information at 1:30 PM Eastern Time on Thursday, April 24, 2025. Interested parties may listen to the call and view a copy of the Company's Earnings Presentation by joining the call via https://events.q4inc.com/attendee/955891780. To listen to the call without access to the slides, interested parties may dial 833-470-1428 (United States) or 404-975-4839 (internationally) and ask for the Brookline Bancorp conference call (Access Code 941481)

      4/7/25 4:05:27 PM ET
      $BRKL
      Savings Institutions
      Finance
    • Brookline Bancorp Announces Fourth Quarter Results

      Net Income of $17.5 million, EPS of $0.20 Operating Earnings of $20.7 million, Operating EPS of $0.23 Quarterly Dividend of $0.135 BOSTON, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Brookline Bancorp, Inc. (NASDAQ:BRKL) (the "Company") today announced net income of $17.5 million, or $0.20 per basic and diluted share, and excluding $3.4 million of merger-related charges, operating earnings after tax (non-GAAP) of $20.7 million, or $0.23 per basic and diluted share for the fourth quarter of 2024, compared to net income and operating earnings after tax (non-GAAP) of $20.1 million, or $0.23 per basic and diluted share, for the third quarter of 2024, and $22.9 million, or $0.26 per basic and diluted

      1/29/25 4:05:03 PM ET
      $BRKL
      Savings Institutions
      Finance

    $BRKL
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • SEC Form 5 filed by Nowak Bogdan

      5 - BROOKLINE BANCORP INC (0001049782) (Issuer)

      2/14/25 10:56:17 AM ET
      $BRKL
      Savings Institutions
      Finance
    • SEC Form 5 filed by Goldrick Michael P

      5 - BROOKLINE BANCORP INC (0001049782) (Issuer)

      2/14/25 10:54:16 AM ET
      $BRKL
      Savings Institutions
      Finance
    • Director Chang Joanne B. was granted 6,098 units of Common, increasing direct ownership by 32% to 24,866 units (SEC Form 4)

      4 - BROOKLINE BANCORP INC (0001049782) (Issuer)

      8/5/24 4:47:57 PM ET
      $BRKL
      Savings Institutions
      Finance

    $BRKL
    Leadership Updates

    Live Leadership Updates

    See more
    • Brookline Bancorp, Inc. Completes Acquisition of PCSB Financial Corporation

      BOSTON, Jan. 03, 2023 (GLOBE NEWSWIRE) -- Brookline Bancorp, Inc. (NASDAQ:BRKL) ("Brookline"), today announced that it has completed its acquisition of PCSB Financial Corporation (NASDAQ:PCSB) ("PCSB"), a $1.9 billion bank holding company based in Yorktown Heights, New York, effective January 1, 2023. PCSB's bank subsidiary, PCSB Bank, now operates as a separate subsidiary of Brookline Bancorp and has 15 banking offices throughout the Lower Hudson Valley of New York State. Michael P. Goldrick assumed the role of President and CEO of PCSB Bank on January 1st. Prior to his appointment as President and CEO, Mr. Goldrick served as PCSB Bank's Executive Vice President and Chief Lending Officer

      1/3/23 4:05:00 PM ET
      $BRKL
      $PCSB
      Savings Institutions
      Finance
      Banks
    • Brookline Bancorp, Inc. Chief Credit Officer M. Robert Rose to Retire as Chief Credit Officer

      Mark Meiklejohn Will Become Chief Credit Officer of Brookline Bancorp, Inc. William Tsonos to Become President and CEO of Bank Rhode Island BOSTON, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Brookline Bancorp (NASDAQ:BRKL) Chairman & CEO Paul Perrault announced today three key changes affecting leadership positions at Brookline Bancorp, Inc. (the "Company") and Bank Rhode Island, its Rhode Island subsidiary bank. After thirteen years as the Company's Chief Credit Officer, M. Robert Rose will retire effective November 1st. Rose will remain with the Company as an executive officer and assume a leadership position with the Company's board and management credit committees. "Bob's long and success

      9/29/22 11:30:00 AM ET
      $BRKL
      Savings Institutions
      Finance

    $BRKL
    Financials

    Live finance-specific insights

    See more
    • Brookline Bancorp Announces First Quarter Results

      Net Income of $19.1 million, EPS of $0.21 Operating Earnings of $20.0 million, Operating EPS of $0.22 Quarterly Dividend of $0.135 BOSTON, April 23, 2025 (GLOBE NEWSWIRE) -- Brookline Bancorp, Inc. (NASDAQ:BRKL) (the "Company") today announced net income of $19.1 million, or $0.21 per basic and diluted share, for the first quarter of 2025, compared to net income of $17.5 million, or $0.20 per basic and diluted share, for the fourth quarter of 2024, and $14.7 million, or $0.16 per basic and diluted share, for the first quarter of 2024. The Company reported operating earnings after tax (non-GAAP) of $20.0 million, or $0.22 per basic and diluted share, for the first quarter of 2025, compar

      4/23/25 4:05:25 PM ET
      $BRKL
      Savings Institutions
      Finance
    • Brookline Bancorp, Inc. Announces First Quarter 2025 Earnings Release Date and Conference Call

      BOSTON, April 07, 2025 (GLOBE NEWSWIRE) -- Brookline Bancorp, Inc. (NASDAQ:BRKL) announced today that it will report first quarter 2025 earnings at the close of business on Wednesday, April 23, 2025. Management will host a conference call to review this information at 1:30 PM Eastern Time on Thursday, April 24, 2025. Interested parties may listen to the call and view a copy of the Company's Earnings Presentation by joining the call via https://events.q4inc.com/attendee/955891780. To listen to the call without access to the slides, interested parties may dial 833-470-1428 (United States) or 404-975-4839 (internationally) and ask for the Brookline Bancorp conference call (Access Code 941481)

      4/7/25 4:05:27 PM ET
      $BRKL
      Savings Institutions
      Finance
    • Brookline Bancorp, Inc. Announces Fourth Quarter 2024 Earnings Release Date and Conference Call

      BOSTON, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Brookline Bancorp, Inc. (NASDAQ:BRKL) announced today that it will report fourth quarter 2024 earnings at the close of business on Wednesday, January 29, 2025. Management will host a conference call to review this information at 1:30 PM Eastern Time on Thursday, January 30, 2025. Interested parties may listen to the call and view a copy of the Company's Earnings Presentation by joining the call via https://events.q4inc.com/attendee/129324302.   To listen to the call without access to the slides, interested parties may dial 833-470-1428 (United States) or 404-975-4839 (internationally) and ask for the Brookline Bancorp conference call (Access Code 1

      1/9/25 4:05:00 PM ET
      $BRKL
      Savings Institutions
      Finance

    $BRKL
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13G/A filed by Brookline Bancorp Inc.

      SC 13G/A - BROOKLINE BANCORP INC (0001049782) (Subject)

      11/12/24 5:09:10 PM ET
      $BRKL
      Savings Institutions
      Finance
    • Amendment: SEC Form SC 13G/A filed by Brookline Bancorp Inc.

      SC 13G/A - BROOKLINE BANCORP INC (0001049782) (Subject)

      11/12/24 10:03:30 AM ET
      $BRKL
      Savings Institutions
      Finance
    • SEC Form SC 13G/A filed by Brookline Bancorp Inc. (Amendment)

      SC 13G/A - BROOKLINE BANCORP INC (0001049782) (Subject)

      2/13/24 5:00:57 PM ET
      $BRKL
      Savings Institutions
      Finance