Welcome to our dedicated page for Brookline Bancorp news (Ticker: BRKL), a resource for investors and traders seeking the latest updates and insights on Brookline Bancorp stock.
Brookline Bancorp Inc. is a reputable multi-bank holding company headquartered in Boston, Massachusetts, with a focus on delivering tailored financial solutions. As the parent company of Brookline Bank, Bank Rhode Island, and PCSB Bank, it boasts approximately $11 billion in assets and operates branch locations across eastern Massachusetts, Rhode Island, and the Lower Hudson Valley of New York State.
Brookline Bank, a full-service financial institution, operates 24 branches within the Greater Boston area. The bank provides a wide array of services for both individuals and businesses, including checking, savings, and retirement accounts, home equity lending, residential mortgages, and commercial real estate (CRE) banking. Additionally, it offers comprehensive cash management services, merchant services, and access to investment services, ensuring a high level of customized and flexible support for all its clients.
Brookline Bancorp also extends its services to commercial, business, and retail banking, featuring an assortment of cash management products and online banking services. The company is known for its consumer and residential loan products, enhancing financial accessibility for a diverse customer base.
In recent developments, Brookline Bancorp has announced its third quarter 2023 earnings release, scheduled for October 25, 2023, followed by a conference call on October 26, 2023. This event highlights the company's ongoing commitment to transparency and stakeholder engagement. The call can be accessed via the company's website or through designated phone lines.
The financial health of Brookline Bancorp remains robust, with net income reported at $22.7 million and an earnings per share (EPS) of $0.26. The company has also declared a dividend, demonstrating its stable financial position and shareholder value proposition.
Leadership changes have been a focal point, with the upcoming retirement of Chief Operations Officer James Cosman on April 1, 2024. In light of his departure, new appointments include Mona Macero as Executive Vice President and Chief Digital Officer, and Kelly Bressette as Executive Vice President and Director of Operations. These strategic movements are set to drive future technological and operational excellence within the company.
Brookline Bancorp continuously adapts to meet the evolving needs of its customers, leveraging its strong foundation in banking services and commitment to community-focused growth. More information is available on their websites: brooklinebank.com, bankri.com, and pcsb.com.
Berkshire Hills Bancorp (NYSE: BHLB) and Brookline Bancorp (NASDAQ: BRKL) have announced a $1.1 billion all-stock merger agreement, creating a combined entity with $24 billion in assets. The merger, expected to close in Q3 2025, includes a $100 million common stock issuance by BHLB at $29.00 per share.
The combined company will maintain a 50/50 split of the 16-person board of directors, with key executives from both companies retaining their positions. The merger is projected to generate $65-70 million in annual cost savings, representing 13% of combined noninterest expenses.
The proforma entity will have $19 billion in loans and $18 billion in deposits, becoming the 3rd largest mid-sized bank in New England. The transaction includes significant interest rate marks totaling $282 million across various portfolios, with an expected CET1 ratio of 9.8%, projected to reach mid-10% by year-end 2026.
Berkshire Hills Bancorp (NYSE: BHLB) and Brookline Bancorp (NASDAQ: BRKL) have announced a merger of equals valued at approximately $1.1 billion. The all-stock transaction will create a $24 billion asset franchise with 148 branch offices across the Northeast. Brookline shareholders will receive 0.42 shares of Berkshire common stock for each Brookline share.
The combined entity will be supported by a $100 million capital raise through Berkshire common stock issuance at $29.00 per share. Post-merger, Berkshire shareholders will own 51%, Brookline shareholders 45%, and new investors 4%. The merger is expected to close by the end of H2 2025, subject to regulatory and shareholder approvals.
The combined company will operate under a new name and ticker symbol on the NYSE, with executive headquarters in Boston. The leadership structure will include equal board representation and a regional banking model with six divisions.
Brookline Bancorp (BRKL) reported Q3 2024 net income of $20.1 million, or $0.23 per share, up from $16.4 million ($0.18/share) in Q2 2024 but down from $22.7 million ($0.26/share) in Q3 2023. Total assets reached $11.7 billion, with loans and leases at $9.8 billion. Net interest income increased by $3.0 million to $83.0 million, with net interest margin rising to 3.07%. The company declared a quarterly dividend of $0.135 per share. Total deposits slightly decreased to $8.7 billion, though customer deposits grew by $103.2 million. The allowance for loan and lease losses was 1.31% of total loans.
Brookline Bancorp, Inc. (NASDAQ: BRKL) has announced its schedule for reporting third quarter 2024 earnings. The company will release its earnings report on Wednesday, October 23, 2024, after the close of business. A conference call to discuss the results is scheduled for Thursday, October 24, 2024, at 1:30 PM Eastern Time.
Interested parties can join the call and view the company's Earnings Presentation via a provided link. Alternatively, they can dial in to listen without access to the slides. A recorded playback of the call will be available for one week following the event. The earnings information will also be accessible on the company's website.
Brookline Bancorp, Inc. is a multi-bank holding company with $11 billion in assets, operating through Brookline Bank, Bank Rhode Island, PCSB Bank, and their subsidiaries across Massachusetts, Rhode Island, and New York.
Brookline Bancorp (NASDAQ: BRKL) reported Q2 2024 net income of $16.4 million, or $0.18 per share, and operating earnings of $17.0 million, or $0.19 per share. This marks an increase from Q1 2024 but a decrease from Q2 2023. The company experienced solid loan and deposit growth across its three banks, with total assets reaching $11.6 billion. Despite persistent margin pressure, the intensity decreased slightly from the previous quarter. Key financial highlights include:
- Total loans and leases: $9.7 billion
- Total deposits: $8.7 billion
- Net interest income: $80.0 million
- Net interest margin: 3.00%
- Provision for credit losses: $5.6 million
- Nonperforming loans ratio: 0.62%
The Board of Directors approved a quarterly dividend of $0.135 per share, payable on August 30, 2024.
Brookline Bancorp (NASDAQ: BRKL) will announce its second quarter 2024 earnings after market close on July 24, 2024. A conference call with management is scheduled for 1:30 PM ET on July 25, 2024, to discuss the results. Participants can join the call via a provided webinar link or by dialing in. Playback of the call will be available for a week following the live event. Brookline Bancorp is a multi-bank holding company with $11 billion in assets, offering a range of commercial, business, and retail banking services through its various subsidiaries across Massachusetts, Rhode Island, and New York.
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