Brookline Bancorp, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2011; Declares Dividend, Payable on February 24, 2012
January 26, 2012 at 03:33 am IST
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Brookline Bancorp, Inc. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company's total interest income was $35,988,000 against $32,288,000 a year ago. Net interest income was $28,620,000 against $24,636,000 a year ago. Income before income taxes was $12,642,000 against $11,524,000 a year ago. Net income attributable to the company was $7,058,000 or $0.12 per diluted share against net income attributable to the company of $6,398,000 or $0.11 per diluted share a year ago. Return on average assets was 0.89% against 0.95% a year ago. Return on average stockholders' equity was 5.60% against 5.15% a year ago.
For the full year, the company's total interest income was $140,804,000 against $131,161,000 a year ago. Net interest income was $110,468,000 against $96,594,000 a year ago. Income before income taxes was $48,705,000 against $46,797,000 a year ago. Net income attributable to the company was $27,600,000 or $0.47 per diluted share against net income attributable to the company of $26,872,000 or $0.46 per diluted share a year ago. Return on average assets was 0.90% against 1.01% a year ago. Return on average stockholders' equity was 5.51% against 5.45% a year ago. Book value per share as on December 31, 2011 was $8.50 against $8.39 as on December 31, 2010. Tangible book value per common share was $7.64 against $7.62 a year ago.
The company's Board of Directors approved a dividend of $0.085 per share. The dividend will be paid on February 24, 2012, to shareholders of record on February 10, 2012.
Brookline Bancorp, Inc. is a bank holding company for Brookline Bank, Bank Rhode Island (BankRI), PCSB Bank (the Banks). The Bank offers a range of commercial, business and retail banking services, including a full complement of cash management products, on-line banking services, and consumer and residential loans and investment services, designed to meet the financial needs of small-to mid-sized businesses and individuals throughout Central New England and the Lower Hudson Valley in New York. Its specialty lending activities, including equipment financing, are focused on the New York and New Jersey metropolitan area, with services offered throughout the United States. The Bank, through its subsidiary Eastern Funding LLC, conducts equipment financing activities in the greater New York and New Jersey metropolitan area and elsewhere in the United States. The Bank operates 29 full-service banking offices and two lending offices in the greater Boston metropolitan area.
Brookline Bancorp, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2011; Declares Dividend, Payable on February 24, 2012