This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Brookline Bancorp, Inc. Completes Acquisition Of Bancorp Rhode Island, Inc. And Announces Date For Release Of Fourth Quarter 2011 Earnings

Brookline Bancorp, Inc. (NASDAQ: BRKL) today announced that it has completed its acquisition of Bancorp Rhode Island, Inc. (NASDAQ: BARI), a $1.6 billion bank holding company based in Providence, Rhode Island. Bancorp Rhode Island’s bank subsidiary, Bank Rhode Island, will continue to operate as a subsidiary of Brookline Bancorp and has 17 branch locations throughout Rhode Island.

The total consideration paid by Brookline Bancorp is comprised of approximately 10.9 million shares of common stock and $112.9 million in cash. Based on the final election results and the provisions of the related merger agreement, Bancorp Rhode Island shareholders who made a valid stock election or no election will receive 4.686 shares of Brookline Bancorp common stock for each Bancorp Rhode Island share held by them, and Bancorp Rhode Island shareholders who made a valid cash election will receive the stock consideration for approximately 47.6% of their Bancorp Rhode Island shares and cash consideration of $48.25 per share for the balance of their Bancorp Rhode Island shares.

Brookline Bancorp also announced that Merrill W. Sherman, previously President and CEO of Bancorp Rhode Island and Bank Rhode Island, and Bogdan Nowak, a Bancorp Rhode Island board member, have joined the Brookline Bancorp Board of Directors. Mark J. Meiklejohn, previously the Chief Lending Officer at Bank Rhode Island, was named President and CEO of Bank Rhode Island.

“We are very pleased to welcome the customers and employees of Bank Rhode Island to our growing family of regional banks,” said Paul A. Perrault, President and CEO of Brookline Bancorp. “The addition of Merrill Sherman and Bogdan Nowak to our board and the appointment of Mark as President and CEO of Bank Rhode Island ensures a smooth transition and continued growth at Bank Rhode Island.”

Brookline Bancorp announced that, as it completes the integration of Bancorp Rhode Island, it plans to release its fourth quarter 2011 earnings report after the close of business on Wednesday, January 25, 2012.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.40 -0.36%
FB $118.49 0.77%
GOOG $700.23 1.00%
YHOO $36.54 -0.16%
TSLA $241.98 0.51%


Chart of I:DJI
DOW 17,883.90 +110.26 0.62%
S&P 500 2,080.64 +15.34 0.74%
NASDAQ 4,814.8120 +39.4540 0.83%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs