Total deposits were $2.3 billion at December 31, 2011, up 24.4 percent from year-end 2010 and 3.3 percent from September 30, 2011. Growth from year-end 2010 was driven by organic growth of 12.1 percent and the addition of $212.2 million in deposits from the First Ipswich acquisition. Transaction deposits (non-certificate of deposits) trends remain positive with growth of 41.9 percent from year-end 2010 and a 5.5 percent increase from September 30, 2011. The transaction deposit growth from September 30, 2011 was driven primarily by demand deposit and money market accounts. For the three months ended December 31, 2011, the average balance of transaction deposits rose to 63.8 percent of the average balance of total deposits compared to 53.7 percent at year-end 2010 and 62.4 percent from September 30, 2011.The Company’s reduction in its investment securities portfolio from $304.5 million at December 31, 2010 to $217.4 million at December 31, 2011 is a result of limited investment opportunities in the market.
Brookline Bancorp Announces Strong 2011 Results
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