(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)|
|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||%|
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV