This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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 Third Quarter Net Income Of $11.4 Million, EPS Of $0.16

Stocks in this article: BRKL

(2) Average balances include unrealized gains (losses) on securities available-for-sale. Equity securities include marketable equity securities and restricted equity securities. Dividend payments may not be consistent and average yield on equity securities may vary from month to month.

(3) Loans on nonaccrual status are included in the average balances.

(4) Including non-interest-bearing checking accounts, the average interest rate on total deposits was 0.60%, 0.63% and 0.91% in the three months ended September 30, 2012, June 30, 2012, and September 30, 2011, respectively.

(5) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.

(6) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets.

                         
BROOKLINE BANCORP, INC. AND SUBSIDIARIES
Average Yields / Costs (Unaudited)
 
Nine Months Ended
September 30, 2012 September 30, 2011

Average Balance

Interest (1)

Average Yield/Cost

Average Balance

Interest (1)

Average Yield/Cost

(Dollars in Thousands)
Assets:
Interest-earning assets:
Short-term investments $ 98,781 $ 166 0.23 % $ 72,702 $ 77 0.14 %
Investment securities available-for-sale (2) 447,344 6,753 2.01 % 294,017 5,020 2.28 %
Restricted equity securities (2) 54,893 317 0.77 % 39,361 161 0.54 %
Commercial real estate loans (3) 1,889,996 70,723 5.01 % 1,136,722 44,922 5.29 %
Commercial loans (3) 360,453 16,170 5.99 % 174,887 6,308 4.82 %
Equipment financing (3) 384,453 22,000 7.63 % 215,786 13,366 8.26 %
Indirect automobile loans (3) 577,857 18,132 4.19 % 576,488 21,591 5.01 %
Residential mortgage loans (3) 498,929 16,675 4.46 % 332,467 11,205 4.49 %
Other consumer loans (3)   269,473     9,587 4.75 %   74,886     2,222 3.97 %
Total interest-earning assets 4,582,179   160,523 4.68 % 2,917,316   104,872 4.80 %
Allowance for loan and lease losses (34,914 ) (30,340 )
Non-interest earning assets   405,524     133,079  
Total assets $ 4,952,789   $ 3,020,055  
 
Liabilities and Stockholders' Equity:
Interest-bearing liabilities:
Deposits:
NOW accounts $ 182,441 $ 162 0.12 % $ 132,056 $ 166 0.17 %
Savings accounts 517,168 1,351 0.35 % 154,869 734 0.63 %
Money market accounts 1,188,551 6,658 0.75 % 801,484 5,667 0.95 %
Certificates of deposit   1,064,431     8,184 1.03 %   815,934     8,436 1.38 %
Total interest-bearing deposits (4) 2,952,591 16,355 0.74 % 1,904,343 15,003 1.05 %
Advances from the FHLBB 723,934 10,502 1.94 % 412,260 7,854 2.55 %
Other borrowed funds   59,344     563 1.27 %   8,199     111 1.82 %
Total interest-bearing liabilities 3,735,869   27,420 0.98 % 2,324,802   22,968 1.32 %
Non-interest-bearing demand
checking accounts (4) 545,109 166,829
Other liabilities   67,793     26,136  
Total liabilities 4,348,771 2,517,767
Brookline Bancorp, Inc. stockholders’ equity 598,292 499,620
Noncontrolling interest in subsidiary   5,726     2,668  
Total liabilities and equity $ 4,952,789   $ 3,020,055  
Net interest income (tax equivalent basis) /
Interest rate spread (5) 133,103 3.70 % 81,904 3.48 %
Less adjustment of tax-exempt income   298   218
Net interest income $ 132,805 $ 81,686
Net interest margin (6) 3.88 % 3.75 %
 
 

 

 

(1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis.

7 of 9

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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