(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|
|(Dollars in Thousands)|
|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|
|Liabilities and Stockholders' Equity:|
|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||%|
|checking accounts (4)||545,109||166,829|
|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||%|
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