The loan and lease portfolio grew to $4.0 billion as of June 30, 2012, up 7.9 percent from the prior quarter and 9.9 percent from December 31, 2011, after adjustment for the $1.2 billion in loans and leases acquired from Bancorp Rhode Island. The Company continued to benefit from strong growth in its commercial loan and lease portfolios, which reached $2.7 billion, or 66.6 percent of total loans, at June 30, 2012. The commercial portfolios increased 11.7 percent during the second quarter 2012 and 13.9 percent for the first six months of 2012, after adjustment for the $0.8 million in commercial loans and leases acquired from Bancorp Rhode Island.Deposits of $3.5 billion at June 30, 2012, were up 7.2 percent from March 31, 2012 and 63.1 percent from June 30, 2011. Growth from June 30, 2011 includes the addition of $1.2 billion in deposits from the Bancorp Rhode Island acquisition. Core deposits increased 12.3 percent in the second quarter 2012 and now comprise 70.2 percent of total deposits at June 30, 2012. As a percentage of deposits, core deposits are up from 64.2 percent at December 31, 2011 and 61.9 percent at June 30, 2011, largely as a result of the deposits acquired in the Bancorp Rhode Island acquisition. The loans-to-deposit ratio decreased from 120.8 percent at December 31, 2011 to 114.0 percent at June 30, 2012.
Brookline Bancorp Announces Second Quarter Net Income Of $7.5 Million
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