Brookline Bancorp Provides Earnings Guidance for the First Quarter and Full Year of 2017
January 27, 2017 at 12:00 am IST
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Brookline Bancorp provided earnings guidance for the first quarter and full year of 2017. For the first quarter, the company expects quarterly noninterest income is projected to be in line in the range of $5 million to $5.5 million with year-over-year growth of 4% to 6%. Noninterest expense is projected to be higher than fourth quarter due to the impact of merit increases in the seasonal reset of benefits costs with the year-over-year increase of 4% to 5%.
For the year 2017, the company is projecting the effective tax rate to be in the range of 35.5%.
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. 
