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.
Brookline Bancorp, Inc. (formerly traded on Nasdaq under the symbol BRKL) generated regular news coverage as a regional bank holding company in the Finance and Insurance sector. Company press releases and SEC filings describe Brookline as the parent of Brookline Bank, Bank Rhode Island and PCSB Bank, with a focus on commercial and retail banking services, cash management and investment services for customers in Massachusetts, Rhode Island and the Lower Hudson Valley of New York State.
News related to Brookline Bancorp has covered several recurring themes. Earnings releases have detailed quarterly and annual financial performance, including net income, net interest income, non-interest income, asset quality metrics, loan and deposit trends, and dividends declared by the board of directors. These announcements often include commentary from management on balance sheet strategy, commercial real estate exposure, commercial and industrial lending activity and deposit growth.
Another major stream of news has involved Brookline’s merger of equals with Berkshire Hills Bancorp, Inc. Company announcements on December 16, 2024 and subsequent dates outlined the terms of the all-stock transaction, the planned combination of the holding companies, and the consolidation of Berkshire Bank, Brookline Bank, Bank Rhode Island and PCSB Bank under a single charter. Later news items reported on the planned new name Beacon Financial Corporation for the combined holding company, the Beacon Bank & Trust name for the combined bank, and the new New York Stock Exchange ticker symbol "BBT" for the combined company’s common stock.
Regulatory and transaction milestones have also been prominent in Brookline Bancorp news. Joint press releases and Form 8-K filings describe the receipt of required regulatory approvals from federal and state banking regulators, stockholder approvals, and the expected and actual closing dates of the merger. A September 2, 2025 8-K confirms completion of the transaction on September 1, 2025 and explains the subsequent delisting of Brookline common stock from Nasdaq.
For readers reviewing the Brookline Bancorp (BRKL) news archive, this page provides historical context on the company’s financial results, strategic direction, and its transformation through the merger into Beacon Financial Corporation and Beacon Bank & Trust.
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.