This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Brookline Bancorp Announces 2012 First Quarter Results

Brookline Bancorp, Inc. (NASDAQ: BRKL) today reported net income of $6.3 million, or $0.09 fully diluted earnings per share (EPS), for the quarter ended March 31, 2012. These results compare to the first quarter 2011 net income of $7.3 million, or $0.12 fully diluted EPS, and the net income for the fourth quarter 2011 of $7.1 million, or $0.12 fully diluted EPS. Net earnings from operations were $10.3 million, or $0.15 per fully diluted share, after adjustment for merger-related expenses of $4.0 million (after-tax) associated with the January 1, 2012 acquisition of Bancorp Rhode Island, Inc. (“Bancorp Rhode Island”).

“Brookline Bancorp again delivered solid operating results, through continued organic loan and deposit growth and strong credit fundamentals” reported Paul A. Perrault, President and CEO of Brookline Bancorp. “We have already begun to capitalize upon the Bank Rhode Island acquisition and, looking forward, we remain enthusiastic about the growth opportunities in our respective marketplaces and our capacity to deliver on an expanded suite of products and services.”


Brookline Bancorp posted net operating earnings of $10.3 million, or $0.15 per diluted share in the first quarter of 2012, after adjustment for merger-related expenses of $4.0 million after tax. Total revenues (net interest income and non-interest income) of $47.2 million increased 57.4 percent as compared to the last quarter of 2011, driven by 53.0 percent growth in net interest income and 141.1 percent growth in other fee income. These results reflect increases in average commercial real estate loans, commercial loans and consumer loans of $589.8 million, $299.2 million and $338.4 million, respectively, and average core deposits of $638.6 million over the fourth quarter of 2011. Net interest margin was 4.08 percent, up from the fourth quarter of 2011, as Brookline Bancorp began to benefit from the Bancorp Rhode Island acquisition and continued to improve low-cost deposit balances.

1 of 8

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs