Brookline Bncp Stock Price, News & Analysis

Brookline Bancorp, Inc. (NASDAQ: BRKL) announced it has received regulatory approvals for its acquisition of PCSB Financial Corporation (NASDAQ: PCSB). The transaction is expected to close on January 1, 2023, pending customary closing conditions. Brookline, with assets of approximately $8.7 billion, operates as a bank holding company and provides a variety of banking services in Central New England. This acquisition reflects Brookline's ongoing strategy to expand its market presence and enhance service offerings.

Brookline Bancorp (NASDAQ: BRKL) and PCSB Financial Corporation (NASDAQ: PCSB) have extended the deadline for PCSB stockholders to choose their merger consideration to December 20, 2022. This extension aims to lessen the interval between the election cutoff and the merger's effective date. The merger's closing is contingent on receiving necessary regulatory approvals. Stockholders can modify their elections before the new deadline or take no action if they wish to retain their previous choice. For more details, PCSB stockholders can contact their investor relations.

Brookline Bancorp (NASDAQ: BRKL) and PCSB Financial Corporation (NASDAQ: PCSB) have extended the deadline for PCSB stockholders to elect their preferred form of consideration in the upcoming merger until 5:00 p.m. on December 13, 2022. This extension aims to shorten the time between the election deadline and the merger's effective date. The merger is still subject to customary closing conditions, including regulatory approvals. PCSB stockholders can modify their previous elections or choose not to change them by the new deadline.

Brookline Bancorp (BRKL) reported a net income of $30.1 million, or $0.39 per share, for Q3 2022, up from $25.2 million in Q2 2022. Total assets increased to $8.7 billion, with total loans rising to $7.4 billion. Net interest income rose by $6.1 million to $78.0 million, accompanied by a net interest margin of 3.80%. The Company declared a 4% increase in its quarterly dividend to $0.135 per share. However, total deposits fell by $158.9 million.

On October 25, 2022, Clarendon Private, a Boston-based investment firm and a subsidiary of Brookline Bancorp (NASDAQ: BRKL), announced the hiring of John Valpey to enhance its wealth management and estate planning services. Valpey, with nearly 30 years of experience, previously served at Bank of America as the National Fiduciary Services Executive. He is expected to deepen client relationships due to his extensive expertise. Clarendon Private focuses on personalized investment solutions, aiming to prioritize client goals and transparency in its operations.

Brookline Bancorp (NASDAQ: BRKL) and PCSB Financial Corporation (NASDAQ: PCSB) announced an extension of the election deadline for PCSB stockholders in their upcoming merger to November 15, 2022. This aims to minimize the time gap between the election and the merger’s effective date. The merger is contingent upon standard closing conditions, including regulatory approvals. Stockholders can modify previous elections before the new deadline, or take no action if they wish to retain their choices.

BROOKLINE, Oct. 4, 2022 (GLOBE NEWSWIRE) -- Brookline Bancorp, Inc. (NASDAQ: BRKL) will release its third-quarter 2022 earnings on October 26, 2022. A conference call for discussion of the earnings will take place on October 27, 2022, at 1:30 PM ET. Interested listeners can join via phone or online, with a playback available for a week after the call. Brookline Bancorp, with approximately $8.6 billion in assets, offers commercial and retail banking services in Massachusetts and Rhode Island. More details are available on their website.

Brookline Bancorp (NASDAQ: BRKL) announced leadership changes effective November 1, 2022. M. Robert Rose will retire as Chief Credit Officer after 13 years but will stay on as an executive officer. Mark Meiklejohn, currently President and CEO of Bank Rhode Island, will succeed him. William Tsonos will take over as President and CEO of Bank Rhode Island from Meiklejohn. The changes are aimed at ensuring continuity in credit risk management and maintaining the bank's strong performance.

Brookline Bancorp (NASDAQ: BRKL) and PCSB Financial Corporation (NASDAQ: PCSB) announced the deadline for PCSB stockholders to elect their preferred form of consideration in the upcoming merger. Shareholders can choose between $22.00 in cash or 1.3284 shares of Brookline stock. The election must be completed by 5:00 p.m. ET on October 21, 2022. The merger awaits customary regulatory approvals. Following the merger, 60% of PCSB's shares will convert to Brookline stock, affecting the final allocation for those electing cash or stock.