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Brookline Bancorp (BRKL) in Boston has named Carl Carlson chief financial officer and treasurer. He will start April 1, the company said in a press release Wednesday. Carlson succeeds Julie Gerschick, who resigned Dec. 31.
March 19 -
A big payment to a former executive and a decline in fee income hurt earnings at Brookline Bancorp (BRKL) in Boston last quarter.
January 31 -
The $5.2 billion-asset company reported a profit of $9.4 million in the third quarter, down 18% from the same period a year earlier, it announced Wednesday.
October 23 -
Brookline Bancorp (BRKL) in Boston reported higher quarterly earnings after an acquisition boosted interest income.
January 31
Brookline Bancorp in Boston reported higher quarterly earnings because of loan growth.
The company said that net income for the second quarter increased 5%, to $10 million, from the same period a year ago. Earnings per share of 14 cents met the estimates of analysts polled by Bloomberg.
Brookline had $5.6 billion in total assets through the second quarter, up from $5.2 billion during the same period a year earlier. This increase was driven by loans and leases, which increased 9%, to $4.6 billion. Commercial real estate and commercial loan and lease portfolios accounted for $3.4 billion of this total amount, Brookline said in its earnings release on Wednesday afternoon.
Brookline's net interest income grew by 2%, to $46.4 million. The company's net interest margin compressed 17 basis points, to $3.61%, due to the decrease in accretion on the acquired loan and lease portfolio.
Noninterest income jumped 5%, to $3.3 million. The increase was boosted by deposit fees rising 14% as well as the company recording a smaller loss from investments in affordable housing projects. However, these improvements were offset by the gains on sales of loans and leases dropping 70% year over year, to $54,000.
Noninterest expenses rose 1%, to $31.2 million, as salaries and benefits and occupancy costs increased from a year earlier.
Brookline recorded a provision for credit losses of $2.3 million, down almost 7% from a year earlier. The company attributed this decrease to improved credit quality in the originated and acquired loan and lease portfolios.
