BOSTON, May 02, 2017 (GLOBE NEWSWIRE) -- Brookline Bancorp, Inc. (NASDAQ:BRKL) (the "Company") announced today the closing of its underwritten public offering of an aggregate of 5,951,250 shares of the Company's common stock at a price to the public of $14.50 per share. The 5,951,250 shares sold in the offering include 776,250 shares sold pursuant to the exercise of the underwriters' purchase option. 

Piper Jaffray & Co. served as the sole book-running manager and Sandler O'Neill + Partners, L.P. served as co-manager for the offering. 

The net proceeds to the Company after deducting for underwriting discounts and commissions and expenses are expected to be approximately $82.0 million. The Company intends to use the net proceeds of the offering for general corporate purposes, including providing capital to support our growth organically or through strategic acquisitions, financing investments and capital expenditures. 

The shares were issued pursuant to a final prospectus supplement filed with the U.S. Securities and Exchange Commission (the "SEC") on April 28, 2017 as part of an automatic shelf registration statement filed with the SEC on Form S-3 (SEC File No. 333-197881). The shelf registration statement for the offering to which this communication relates (including the base prospectus), the final prospectus supplement and other documents that the Company has filed with the SEC that are incorporated by reference into the registration statement may be obtained free of charge by visiting the SEC's website at www.sec.gov, or from Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by calling toll free (800) 747-3924 or by email to: prospectus@pjc.com.

About Brookline Bancorp, Inc.

Brookline Bancorp, Inc., a bank holding company with $6.5 billion in assets and branch locations in Massachusetts and Rhode Island, is headquartered in Boston, Massachusetts and operates as the holding company for Brookline Bank, Bank Rhode Island, and First Ipswich Bank (the "banks"). The Company provides commercial and retail banking services, cash management and investment services to customers throughout Central New England. More information about Brookline Bancorp, Inc. and its banks can be found at the following websites: www.brooklinebank.com, www.bankri.com, and www.firstipswich.com.

Special Note Concerning Forward-looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect the current views of the Company's management with respect to, among other things, future events and the Company's financial performance. These statements are often, but not always, made through the use of words or phrases such as "may," "should," "could," "predict," "potential," "believe," "will likely result," "expect," "continue," "will," "anticipate," "seek," "estimate," "intend," "plan," "project," "forecast," "goal," "target," "would" and "outlook," or the negative variations of those words or other comparable words of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond the Company's control. Accordingly, the Company cautions you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict.  Although the Company believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from the Company's expectations include successfully implementing its growth strategy, including identifying acquisition targets and consummating suitable acquisitions; continuing to sustain internal growth rate; providing competitive products and services that appeal to its customers and target market; continuing to have access to debt and equity capital markets and achieving its performance goals. The foregoing list of factors is not exhaustive.

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