Welcome to our dedicated page for Brookline Bncp news (Ticker: BRKL), a resource for investors and traders seeking the latest updates and insights on Brookline Bncp stock.
Stay informed with the latest news and developments related to Brookline Bancorp, Inc. (BRKL), the Boston-based bank holding company that merged with Berkshire Hills Bancorp to form Beacon Financial Corporation. This page archives historical news coverage and announcements from when BRKL traded on NASDAQ.
Brookline Bancorp operated as a multi-bank holding company serving New England through its subsidiaries including Brookline Bank, Bank Rhode Island, and First Ipswich Bank. The company provided commercial, business, and retail banking services to corporate clients, municipal entities, small businesses, and individual consumers throughout Massachusetts, Rhode Island, and surrounding areas.
Historical news coverage includes quarterly earnings announcements, dividend declarations, loan portfolio updates, and strategic initiatives. The company regularly reported on deposit growth, asset quality metrics, net interest margin performance, and credit trends. Business expansion news covered branch openings, market development activities, and technology implementations designed to enhance customer service delivery.
Coverage of the merger process with Berkshire Hills Bancorp documented the strategic rationale for combining operations, regulatory approval milestones, and integration planning. The transaction created Beacon Financial Corporation, a regional banking franchise with combined assets and an expanded branch network throughout New England and New York. Former BRKL shareholders received shares in the new entity, which trades on the NYSE under the symbol BBT.
This archive provides valuable context for understanding Brookline Bancorp's historical performance, strategic direction, and the factors that led to the transformational merger. For current news about the successor organization, investors should reference Beacon Financial Corporation coverage.
BROOKLINE, Dec. 30, 2022 (GLOBE NEWSWIRE) - Brookline Bancorp (NASDAQ: BRKL) announced preliminary results regarding the merger with PCSB Financial (NASDAQ: PCSB), expected to finalize on January 1, 2023. Shareholders of PCSB will receive 1.3284 shares of Brookline stock per PCSB share. Approximately 46.38% of shareholders opting for cash will receive $22.00 per PCSB share, with remaining shares being converted to Brookline stock. Of the 15,334,707 outstanding PCSB shares, 86.3% chose cash, indicating a strong preference for liquidity among shareholders.
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.
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