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Brookline Bancorp Announces Third Quarter Net Income Of $11.4 Million, EPS Of $0.16

(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 0.62% and 0.97% in the nine months ended September 30, 2012 and 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
Non-GAAP Financial Information (Unaudited)
 
Three Months Ended September 30,   Nine Months Ended September 30,
2012 2011 2012 2011
Reconciliation Table - Non-GAAP Financial Information (Dollars in Thousands Except Share Data)
 
Net income attributable to Brookline Bancorp, Inc. $ 11,401 $ 6,275 $ 25,279 $ 20,543
Add:
Merger-related expenses (after-tax)   -     487     3,972     1,411  
Net earnings from operations $ 11,401   $ 6,762   $ 29,251   $ 21,954  
 
Earnings per common share:
Basic $ 0.16 $ 0.12 $ 0.42 $ 0.37
Diluted 0.16 0.12 0.42 0.37
 
Weighted average common shares outstanding during the period:
Basic 69,716,283 58,640,775 69,682,741 58,627,311
Diluted 69,754,473 58,640,973 69,718,072 58,630,124
 
 
 
 
Sep 30, 2012 Jun 30, 2012 Mar 31, 2012 Dec 31, 2012 Sep 30, 2011
(Dollars in Thousands)
 
Brookline Bancorp, Inc. stockholders’ equity $ 605,962 $ 598,865 $ 597,531 503,602 $ 501,890
Less:
Goodwill 137,890 137,890 138,914 45,799 46,203
Identified intangible assets   23,307     24,578     25,849     5,214     5,591  
Tangible stockholders' equity $ 444,765   $ 436,397   $ 432,768   $ 452,589   $ 450,096  
 
Total assets 5,061,444 4,972,381 4,877,124 3,299,013 3,157,498
Less:
Goodwill 137,890 137,890 138,914 45,799 46,203
Identified intangible assets   23,307     24,578     25,849     5,214     5,591  
Tangible assets $ 4,900,247   $ 4,809,913   $ 4,712,361   $ 3,248,000   $ 3,105,704  

 

 

Tangible stockholders’ equity to tangible assets 9.08 % 9.07 % 9.18 % 13.93 % 14.49 %
 
 
 
Sep 30, 2012 Jun 30, 2012 Mar 31, 2012 Dec 31, 2011 Sep 30, 2011
(Dollars in Thousands Except Per Share Data)
 
Tangible stockholders' equity $ 444,765   $ 436,397   $ 432,768   $ 452,589   $ 450,096  
 
Common shares issued 75,749,819 75,414,713 75,585,504 64,597,180 64,580,180
Less:
Treasury shares   5,373,733     5,373,733     5,373,733     5,373,733     5,373,733  
Number of common shares outstanding   70,376,086     70,040,980     70,211,771     59,223,447     59,206,447  
 
Tangible book value per common share $ 6.32 $ 6.23 $ 6.16 $ 7.64 $ 7.60




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