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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.
Brookline Bancorp (NASDAQ: BRKL) announced leadership changes effective November 1, 2022. M. Robert Rose will retire as Chief Credit Officer after 13 years but will stay on as an executive officer. Mark Meiklejohn, currently President and CEO of Bank Rhode Island, will succeed him. William Tsonos will take over as President and CEO of Bank Rhode Island from Meiklejohn. The changes are aimed at ensuring continuity in credit risk management and maintaining the bank's strong performance.
Brookline Bancorp (NASDAQ: BRKL) and PCSB Financial Corporation (NASDAQ: PCSB) announced the deadline for PCSB stockholders to elect their preferred form of consideration in the upcoming merger. Shareholders can choose between $22.00 in cash or 1.3284 shares of Brookline stock. The election must be completed by 5:00 p.m. ET on October 21, 2022. The merger awaits customary regulatory approvals. Following the merger, 60% of PCSB's shares will convert to Brookline stock, affecting the final allocation for those electing cash or stock.
Brookline Bancorp reported a net income of $25.2 million, or $0.33 per share, for Q2 2022, an increase from $24.7 million in Q1 2022 but a decrease from $31.6 million in Q2 2021. Total assets fell by $119.5 million to $8.51 billion. Core loan portfolio growth was $81.7 million, down from $122.4 million in Q1. Non-interest income rose to $6.9 million, while non-interest expenses increased to $44.9 million. The dividend of $0.130 per share was declared, and the planned merger with PCSB Financial is expected in H2 2022.
BROOKLINE, June 28, 2022 – Brookline Bancorp (NASDAQ: BRKL) will report its Q2 2022 earnings on July 27, 2022. A conference call for discussion will be held at 1:30 PM ET on July 28, 2022. Participants can access the call via a provided link or dial in at specified numbers. The company, with assets of approximately $8.6 billion, operates primarily in Massachusetts and Rhode Island, offering a range of banking services. For more details, visit Brookline Bancorp’s corporate website.
Brookline Bancorp (NASDAQ: BRKL) has announced a proposed acquisition of PCSB Financial Corporation (NASDAQ: PCSB) valued at $313 million, comprising 60% stock and 40% cash. This transaction is set to enhance Brookline's market presence and asset base, adding approximately $2 billion in assets, resulting in pro forma total assets of around $10.5 billion. Despite estimated regulatory challenges and capital ratio impacts, Brookline expects a 12.5% earnings per share accretion in 2023, signaling potential for future growth while maintaining a stable outlook.
Brookline Bancorp (BRKL) has announced a definitive merger agreement to acquire PCSB Financial Corporation (PCSB) for approximately $313 million in cash and stock. This strategic acquisition aims to enhance Brookline's presence in the New York Metro Area. PCSB's shareholders will receive either $22.00 in cash or 1.3284 shares of Brookline stock. The merger is expected to yield a 13% EPS accretion and a 15% IRR, indicating strong financial growth potential. Completion is anticipated in the second half of 2022, pending regulatory and shareholder approvals.
Brookline Bancorp reported a net income of $24.7 million or $0.32 per share for Q1 2022, down from $28.5 million in Q4 2021. Total assets increased to $8.63 billion, while total loans rose to $7.2 billion despite a decline from Q1 2021. Net interest income fell by $1.7 million to $69.8 million. Non-interest income decreased $5.2 million. The company declared a 4% dividend increase to $0.130 per share. The ratio of nonperforming loans dropped to 0.35%. The annualized return on average assets declined to 1.16%.
BROOKLINE, April 4, 2022 - Brookline Bancorp, Inc. (NASDAQ: BRKL) announced it will release its first quarter 2022 earnings on April 27, 2022. A conference call is scheduled for April 28, 2022, at 1:30 PM ET to discuss the results. Interested listeners can join the call via a provided link or dial in using specified phone numbers. Brookline Bancorp, with approximately $8.6 billion in assets, offers commercial and retail banking services across Central New England.
BROOKLINE, Jan. 26, 2022 – Brookline Bancorp (NASDAQ: BRKL) has announced that its 2022 Annual Meeting will be held virtually on May 11, 2022, at 11:00 AM ET. Stockholders of record as of March 18, 2022, are entitled to vote. The company operates with approximately $8.6 billion in assets, offering commercial and retail banking services across eastern Massachusetts and Rhode Island. Further details regarding the Annual Meeting will be available in the proxy statement.
Brookline Bancorp (NASDAQ: BRKL) reported a net income of $28.5 million for Q4 2021, maintaining an EPS of $0.37. This reflects a slight decline from Q3 2021's $28.8 million. Full-year net income reached a record $115.4 million, significantly up from $47.6 million in 2020. Total assets rose to $8.6 billion, with loans increasing by $222.8 million since Q3. The Company also launched Clarendon Private, enhancing its financial offerings. Despite challenges, total deposits grew to $7.05 billion, and a dividend of $0.125 per share was declared.
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