Financial Data and Key Metrics Changes - The company reported operating earnings of $20 million or $0.22 per share, while GAAP net income was $19.1 million resulting in earnings per share of $0.21, after accounting for merger charges of $971,000 [5][11] - Total assets decreased by $385.5 million to $11.5 billion, primarily due to a deliberate reduction in cash equivalents and loan portfolio [8] - Customer deposits increased by $113.8 million, and the net interest margin improved by 10 basis points to 3.22% [6][9] Business Line Data and Key Metrics Changes - The loan portfolio contracted by $136.6 million, with significant declines in commercial real estate and equipment finance, while commercial loans saw growth [5][8] - The specialty vehicle portfolio decreased by $29 million to $267 million, with minimal charge-offs reported [9][50] Market Data and Key Metrics Changes - The company anticipates a 4% to 5% growth in deposits, favoring interest-bearing accounts, while loan portfolio growth is expected to be in the low single digits for the remainder of 2025 [12] - Noninterest income is projected to range between $5.5 million to $6.5 million per quarter, with significant variability in components [12] Company Strategy and Development Direction - The company is focused on reducing commercial real estate exposures while maintaining important customer relationships, and it plans to continue its merger with Berkshire Hills Bancorp [5][14] - The management is cautious about future loan growth and is adapting to the uncertain economic environment, particularly regarding tariffs and their impact on customer behavior [11][26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the net interest margin improving throughout 2025, despite current market volatility and uncertainty [6][12] - The company is closely monitoring economic scenarios and adjusting its strategies accordingly, with a focus on maintaining capital for customer support [10][72] Other Important Information - The Board approved maintaining the quarterly dividend at $0.135 per share, with payment scheduled for May 23 [11] - The merger with Berkshire Hills Bancorp is progressing well, with regulatory applications filed and stockholder meetings scheduled for May 21 [13][14] Q&A Session Summary Question: Impact of a 25 basis point Fed rate cut on margin - Management indicated that the impact depends on the yield curve's behavior, with a cut at the short end potentially beneficial if mid to long-term rates remain stable [22][23] Question: Details on the $7.1 million commercial charge-off - The charge-off was related to a large commercial and industrial credit, with specific reserves already in place [24][25] Question: Tariff implications on equipment finance and manufacturing loans - Management noted that tariffs are causing unease among customers, impacting underwriting processes, but no tangible effects have been observed yet [26] Question: Loan pricing and sentiment among C&I borrowers - Management expressed optimism about loan pricing and the quality of the pipeline, noting that larger banks are currently cautious [34][36] Question: Expense management and guidance for the second quarter - Expenses are expected to remain stable, with careful management in light of the upcoming merger [40][41] Question: Update on the office loan expected to close in Q2 - Management confirmed that the loan is imminent to close, with no additional losses anticipated [52][53] Question: Overall pass-rated loans in the portfolio - The overall pass-rated loans are approximately 95%, indicating a healthy loan portfolio [55][56] Question: Future capital management and share buybacks - Management stated it is too early to discuss buybacks, with a focus on optimizing capital structure post-merger [65][66]

Core Insights - Brookline Bancorp (BRKL) reported revenue of $91.49 million for the quarter ended March 2025, reflecting a year-over-year increase of 4.1% [1] - Earnings per share (EPS) for the quarter was $0.22, up from $0.16 in the same quarter last year, but below the consensus estimate of $0.23, resulting in an EPS surprise of -4.35% [1] - The reported revenue was also below the Zacks Consensus Estimate of $94.92 million, leading to a revenue surprise of -3.61% [1] Financial Metrics - Efficiency Ratio stood at 65.6%, slightly better than the average estimate of 65.8% based on three analysts [4] - Net Interest Margin was reported at 3.2%, matching the average estimate from three analysts [4] - Average Balance of Total Interest-Earning Assets was $10.88 billion, below the average estimate of $11.11 billion from two analysts [4] - Total Non-Interest Income was $5.66 million, lower than the average estimate of $6.56 million from three analysts [4] - Net Interest Income was $85.83 million, compared to the average estimate of $87.47 million from three analysts [4] - Gain on sales of loans and leases was $0.02 million, significantly below the average estimate of $0.43 million from two analysts [4] - Loan fees were reported at $0.39 million, under the average estimate of $0.60 million from two analysts [4] - Deposit fees were $2.36 million, slightly above the average estimate of $2.31 million from two analysts [4] - Loan level derivative income, net, was $0.07 million, compared to the average estimate of $0.40 million from two analysts [4] Stock Performance - Brookline's shares have returned -9.4% over the past month, compared to a -6.6% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Financial Performance - Brookline Bancorp (BRKL) reported quarterly earnings of $0.22 per share, missing the Zacks Consensus Estimate of $0.23 per share, but showing an increase from $0.16 per share a year ago, representing an earnings surprise of -4.35% [1] - The company posted revenues of $91.49 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 3.61%, compared to year-ago revenues of $87.87 million [2] - Over the last four quarters, Brookline has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [2] Stock Performance - Brookline shares have declined approximately 14.7% since the beginning of the year, while the S&P 500 has decreased by -10.1% [3] - The current Zacks Rank for Brookline is 3 (Hold), indicating that shares are expected to perform in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the coming quarter is $0.25 on revenues of $97.69 million, and for the current fiscal year, it is $1.35 on revenues of $395.86 million [7] - The outlook for the Financial - Savings and Loan industry, where Brookline operates, is currently in the top 32% of over 250 Zacks industries, suggesting a favorable environment for performance [8]

[Brookline Bancorp First Quarter 2025 Results](index=1&type=section&id=Brookline%20Bancorp%20Announces%20First%20Quarter%20Results) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) Brookline Bancorp reported Q1 2025 net income of $19.1 million, operating earnings of $20.0 million, and a $0.135 dividend per share Q1 2025 Key Earnings Metrics | Metric | Q1 2025 | Q4 2024 | Q1 2024 | | :--- | :--- | :--- | :--- | | Net Income | $19.1 million | $17.5 million | $14.7 million | | EPS (diluted) | $0.21 | $0.20 | $0.16 | | Operating Earnings (non-GAAP) | $20.0 million | $20.7 million | $14.7 million | | Operating EPS (non-GAAP) | $0.22 | $0.23 | $0.16 | - The Board of Directors declared a quarterly dividend of **$0.135 per share**, payable on May 23, 2025[1](index=1&type=chunk)[19](index=19&type=chunk) - Management highlighted strong performance from its bankers in growing deposits despite economic headwinds and noted an intentional contraction in loan portfolios to reduce commercial real estate (CRE) exposure and increase C&I market participation[3](index=3&type=chunk) [Balance Sheet](index=1&type=section&id=BALANCE%20SHEET) As of March 31, 2025, total assets decreased to $11.5 billion due to reduced cash and loans, while total deposits slightly increased Balance Sheet Key Items (as of period end) | Item | March 31, 2025 | December 31, 2024 | March 31, 2024 | | :--- | :--- | :--- | :--- | | Total Assets | $11.5 billion | $11.9 billion | $11.5 billion | | Total Loans and Leases | $9.6 billion | $9.8 billion | $9.7 billion | | Total Deposits | $8.91 billion | $8.90 billion | $8.72 billion | | Total Borrowed Funds | $1.2 billion | $1.5 billion | $1.4 billion | - Customer deposits increased by **$113.8 million** quarter-over-quarter, while brokered deposits declined by **$104.0 million**[6](index=6&type=chunk) - The ratio of stockholders' equity to total assets improved to **10.77%** from **10.26%** in the prior quarter. Tangible book value per common share (non-GAAP) increased to **$11.03** from **$10.81** at the end of Q4 2024[8](index=8&type=chunk) [Results of Operations](index=1&type=section&id=Results%20of%20Operations) Q1 2025 operational results showed increased net interest income and decreased non-interest expense, contributing to higher net income [Net Interest Income](index=1&type=section&id=NET%20INTEREST%20INCOME) Q1 2025 net interest income was $85.8 million, with NIM expanding by 10 basis points to 3.22% due to lower funding costs Net Interest Income and Margin (QoQ) | Metric | Q1 2025 | Q4 2024 | Change | | :--- | :--- | :--- | :--- | | Net Interest Income | $85.8 million | $85.0 million | +$0.8 million | | Net Interest Margin | 3.22% | 3.12% | +10 bps | [Non-Interest Income](index=2&type=section&id=NON-INTEREST%20INCOME) Total non-interest income decreased to $5.7 million in Q1 2025, primarily due to a $1.0 million drop in net loan level derivative income Non-Interest Income (QoQ) | Metric | Q1 2025 | Q4 2024 | Change | | :--- | :--- | :--- | :--- | | Total Non-Interest Income | $5.7 million | $6.6 million | -$0.9 million | [Non-Interest Expense](index=2&type=section&id=NON-INTEREST%20EXPENSE) Non-interest expense fell by $3.7 million to $60.0 million in Q1 2025, driven by reduced M&A expenses and compensation Non-Interest Expense (QoQ) | Metric | Q1 2025 | Q4 2024 | Change | | :--- | :--- | :--- | :--- | | Total Non-Interest Expense | $60.0 million | $63.7 million | -$3.7 million | [Provision for Income Taxes](index=2&type=section&id=PROVISION%20FOR%20INCOME%20TAXES) The effective tax rate for Q1 2025 was 25.0%, compared to 26.4% in Q4 2024 and 24.7% in Q1 2024 - The effective tax rate was **25.0%** in Q1 2025[16](index=16&type=chunk) [Credit Quality](index=2&type=section&id=Credit%20Quality) Credit quality improved with decreased nonperforming assets, though provision for credit losses increased due to a specific commercial credit [Provision for Credit Losses](index=2&type=section&id=PROVISION%20FOR%20CREDIT%20LOSSES) Provision for credit losses increased to $6.0 million in Q1 2025, largely due to a single commercial credit, with net charge-offs at $7.6 million Credit Loss Metrics (QoQ) | Metric | Q1 2025 | Q4 2024 | | :--- | :--- | :--- | | Provision for Credit Losses | $6.0 million | $4.1 million | | Net Charge-offs | $7.6 million | $7.3 million | | Net Charge-offs to Avg. Loans (annualized) | 0.31% | 0.30% | - The allowance for loan and lease losses as a percentage of total loans and leases was **1.29%** at March 31, 2025, a slight increase from **1.28%** at December 31, 2024[13](index=13&type=chunk) [Asset Quality Metrics](index=2&type=section&id=ASSET%20QUALITY) Asset quality improved in Q1 2025, with total nonperforming assets decreasing by $6.4 million to $64.0 million, and key ratios declining Asset Quality Ratios (QoQ) | Metric | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Nonperforming Assets | $64.0 million | $70.5 million | | Nonperforming Loans to Total Loans | 0.65% | 0.71% | | Nonperforming Assets to Total Assets | 0.56% | 0.59% | [Returns and Dividends](index=2&type=section&id=Returns%20and%20Dividends) Profitability metrics improved in Q1 2025, with annualized returns on average assets and equity increasing, and the quarterly dividend maintained Key Return Ratios (Annualized) | Metric | Q1 2025 | Q4 2024 | | :--- | :--- | :--- | | Return on Average Assets (ROA) | 0.66% | 0.61% | | Return on Average Stockholders' Equity (ROE) | 6.19% | 5.69% | | Return on Average Tangible Stockholders' Equity (ROTE, non-GAAP) | 7.82% | 7.21% | - The Board of Directors approved a quarterly dividend of **$0.135 per share**[19](index=19&type=chunk) [Appendix: Financial Tables](index=4&type=section&id=Appendix%3A%20Financial%20Tables) This section contains detailed, unaudited financial statements and supplementary data, including balance sheets, income statements, and asset quality [Selected Financial Highlights (Unaudited)](index=4&type=section&id=Selected%20Financial%20Highlights%20(Unaudited)) [Consolidated Balance Sheets (Unaudited)](index=5&type=section&id=Consolidated%20Balance%20Sheets%20(Unaudited)) [Consolidated Statements of Income (Unaudited)](index=7&type=section&id=Consolidated%20Statements%20of%20Income%20(Unaudited)) [Asset Quality Analysis (Unaudited)](index=8&type=section&id=Asset%20Quality%20Analysis%20(Unaudited)) [Average Yields / Costs (Unaudited)](index=10&type=section&id=Average%20Yields%20%2F%20Costs%20(Unaudited)) [Non-GAAP Financial Information (Unaudited)](index=12&type=section&id=Non-GAAP%20Financial%20Information%20(Unaudited))

Financial Performance - The company reported net income of $19.1 million, or $0.21 per share, for Q1 2025, an increase from $17.5 million, or $0.20 per share, in Q4 2024, and $14.7 million, or $0.16 per share, in Q1 2024 [2][29] - Operating earnings after tax were $20.0 million, or $0.22 per share, for Q1 2025, compared to $20.7 million, or $0.23 per share, in Q4 2024, and $14.7 million, or $0.16 per share, in Q1 2024 [2][29] - The company declared a quarterly dividend of $0.135 per share [20][29] Balance Sheet Highlights - Total assets decreased to $11.5 billion as of March 31, 2025, down from $11.9 billion at December 31, 2024, primarily due to reductions in cash and cash equivalents and loans [3][29] - Total loans and leases were $9.6 billion, a decrease of $136.6 million from December 31, 2024, and a decrease of $12.4 million from March 31, 2024 [4][29] - Total deposits increased to $8.9 billion, up $9.8 million from December 31, 2024, and up $192.8 million from March 31, 2024 [6][29] Income and Expense Analysis - Net interest income rose to $85.8 million in Q1 2025, an increase from $85.0 million in Q4 2024, with a net interest margin of 3.22%, up from 3.12% [9][29] - Total non-interest income decreased to $5.7 million in Q1 2025 from $6.6 million in Q4 2024, primarily due to a decline in loan level derivative income [11][29] - Non-interest expense decreased to $60.0 million in Q1 2025 from $63.7 million in Q4 2024, driven by lower merger and acquisition expenses [16][29] Credit Quality and Provisions - The company recorded a provision for credit losses of $6.0 million in Q1 2025, up from $4.1 million in Q4 2024, largely due to deterioration in a single commercial credit [12][29] - Total net charge-offs were $7.6 million in Q1 2025, compared to $7.3 million in Q4 2024, with a charge-off of $7.1 million in commercial loans [13][29] - The allowance for loan and lease losses was 1.29% of total loans and leases as of March 31, 2025, slightly up from 1.28% at December 31, 2024 [14][29] Asset Quality - The ratio of nonperforming loans and leases to total loans and leases was 0.65% as of March 31, 2025, down from 0.71% at December 31, 2024 [15][29] - Total nonperforming assets decreased to $64.0 million, or 0.56% of total assets, down from $70.5 million, or 0.59% of total assets, at December 31, 2024 [15][29] Capital Ratios - The ratio of stockholders' equity to total assets was 10.77% as of March 31, 2025, compared to 10.26% at December 31, 2024 [8][29] - Tangible book value per common share increased to $11.03 as of March 31, 2025, up from $10.81 at December 31, 2024 [8][29]

Group 1 - Brookline Bancorp, Inc. will report its first quarter 2025 earnings on April 23, 2025, with a conference call scheduled for April 24, 2025, at 1:30 PM Eastern Time [1] - The company has $11.9 billion in assets and operates branches in Massachusetts, Rhode Island, and New York [2] - Brookline Bancorp offers a variety of banking services, including commercial, business, and retail banking, as well as cash management products and investment services [2] Group 2 - The company provides equipment financing through its subsidiary Eastern Funding and wealth management services through Clarendon Private [2] - Interested parties can access the conference call via a dedicated link or by dialing specific phone numbers for the United States and international listeners [1] - A recorded playback of the conference call will be available for one week following the event [1]

Financial Performance - The Company anticipates a decrease in earnings per share to $0.77 for 2024 from $0.85 for 2023[31]. - Total assets increased to $11,473,424 thousand in 2024, up from $11,214,371 thousand in 2023, representing a growth of 2.31%[312]. - The Company reported a net income of $74.999 million for 2023, a decrease of 31.7% from $109.744 million in 2022[367]. - Non-interest income fell by $6.3 million, or 19.8%, to $25.6 million in 2024, driven by declines in loan level derivative income, gain on sales of investment securities, and gain on sales of loans and leases[333]. - The efficiency ratio rose to 68.09% in 2024 from 64.45% in 2023, attributed to lower net interest income and non-interest income, alongside higher non-interest expenses[338]. Capital and Regulatory Compliance - The minimum common equity Tier 1 capital ratio requirement is 4.5%, with a minimum total capital requirement of 8.0%[64]. - The Company is considered "well capitalized" under the FRB's rules applicable to bank holding companies[67]. - The FRB may prohibit bank holding companies from paying dividends if deemed unsafe or unsound, requiring net income to fund dividends[71]. - The aggregate amount of covered transactions with affiliates cannot exceed 10% of the capital stock and surplus of the insured depository institution[73]. - The Company has made a one-time, permanent election to exclude accumulated other comprehensive income from capital[63]. Interest Income and Expenses - Total interest income from investments decreased by $2.96 million, or 6.8%, to $40.6 million in 2024 compared to $43.5 million in 2023[325]. - Interest income from loans and leases increased by $54.2 million to $587.9 million in 2024, representing a yield of 6.07%, compared to $533.7 million and a yield of 5.72% in 2023[323]. - Total interest expense increased by $61.4 million, or 25.8%, to $298.9 million in 2024 from $237.6 million in 2023, driven by higher interest rates and increased volume[326]. - Interest paid on deposits rose by $57.3 million, or 32.6%, in 2024 compared to 2023, primarily due to a $41.9 million increase from higher interest rates[327]. - The yield on interest-earning assets increased to 5.83% for the year ended December 31, 2024, up from 5.50% in 2023, attributed to higher yields on loans and leases[319]. Asset Quality and Loan Performance - The quality of the Company's assets influences earnings, with timely provisions for loan and lease losses necessary based on estimated probable losses[310]. - The allowance for loan and lease losses was $121,628 thousand in 2024, slightly up from $120,613 thousand in 2023[312]. - The provision for credit losses decreased by $16.6 million to $21.6 million in 2024 from $38.2 million in 2023, primarily due to the absence of a day one provision from the PCSB acquisition[331]. - Commercial real estate loans amounted to $5,760,432 thousand, with an interest income of $327,221 thousand, reflecting a yield of 5.59%[312]. - Total loans and leases increased to $9,701,511 thousand, with a net interest income of $589,192 thousand, yielding 6.07%[312]. Employment and Operations - The Company had 951 full-time employees and 49 part-time employees as of December 31, 2024[38]. - The Company operated 63 full-service banking offices in Greater Boston, Massachusetts, Rhode Island, and New York as of December 31, 2024[32]. - The five largest banks in Massachusetts have an aggregate market share of approximately 69%[32]. - The three largest banks in Rhode Island have an aggregate deposit market share of approximately 69%[32]. - The three largest banks in New York have an aggregate deposit market share of approximately 52%[32]. Interest Rate Risk Management - Interest-rate risk management is governed by the ALCO, which establishes exposure limits and monitors the balance sheet's composition[385]. - As of December 31, 2024, the Company's interest-rate risk position was measured to be modestly asset-sensitive, indicating a potential increase in net interest income during rising interest rates[388]. - The estimated economic value of equity (EVE) at risk shows a decrease in sensitivity, with a 300 basis points increase resulting in a change of (5.5)% as of December 31, 2024, compared to (6.3)% in 2023[394]. - The cumulative one-year negative gap position increased from $521.4 million or 4.89% of total interest-earning assets as of December 31, 2023, primarily due to an increase in borrowed funds and non-maturity deposits[400]. - The weighted average rate for total interest-earning assets was 5.61% as of December 31, 2024, compared to 5.07% for interest-bearing liabilities, resulting in a net interest margin of 2.41%[397].

Core Viewpoint - Brookline Bancorp (BRKL) has received an upgrade to a Zacks Rank 1 (Strong Buy), indicating a positive outlook based on rising earnings estimates, which are a significant factor influencing stock prices [1][2]. Earnings Estimates and Stock Price Movement - The Zacks rating system highlights the strong correlation between changes in earnings estimates and near-term stock price movements, making it a valuable tool for investors [2][3]. - Institutional investors utilize earnings estimates to determine the fair value of stocks, leading to price movements based on their buying or selling activities [3]. Business Improvement Indicators - The upgrade reflects an improvement in Brookline's underlying business, with rising earnings estimates expected to drive the stock price higher [4]. - Brookline is projected to earn $1.36 per share for the fiscal year ending December 2025, representing a year-over-year increase of 67.9% [7]. Zacks Rank System - The Zacks Rank system categorizes stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [6]. - The upgrade places Brookline in the top 5% of Zacks-covered stocks, indicating its strong potential for market-beating returns in the near term [9]. Recent Trends in Earnings Estimates - Over the past three months, the Zacks Consensus Estimate for Brookline has increased by 25.2%, reflecting analysts' growing confidence in the company's earnings potential [7].

Core Viewpoint - Brookline Bancorp reported quarterly earnings of $0.23 per share, missing the Zacks Consensus Estimate of $0.24 per share, and showing a decline from $0.26 per share a year ago, indicating an earnings surprise of -4.17% [1] Financial Performance - The company posted revenues of $91.58 million for the quarter ended December 2024, which was 0.72% below the Zacks Consensus Estimate, and remained unchanged compared to the previous year [2] - Over the last four quarters, Brookline has surpassed consensus EPS estimates two times and topped consensus revenue estimates only once [2] Stock Performance - Brookline shares have increased by approximately 2.4% since the beginning of the year, while the S&P 500 has gained 3.2% [3] - The stock's immediate price movement will largely depend on management's commentary during the earnings call [3] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.24 on revenues of $94.7 million, and for the current fiscal year, it is $1.09 on revenues of $397.38 million [7] - The estimate revisions trend for Brookline is currently favorable, resulting in a Zacks Rank 2 (Buy) for the stock, suggesting it is expected to outperform the market in the near future [6] Industry Context - The Financial - Savings and Loan industry, to which Brookline belongs, is currently ranked in the top 12% of over 250 Zacks industries, indicating a positive outlook for stocks within this sector [8]

Financial Performance - Net income for Q4 2024 was $17.5 million, or $0.20 per share, down from $22.9 million, or $0.26 per share, in Q4 2023[2] - Operating earnings for Q4 2024 were $20.7 million, or $0.23 per share, compared to $20.1 million, or $0.23 per share, in Q3 2024[2] - Net income for the three months ended September 30, 2024, was $17,536 thousand, down from $20,142 thousand in the previous quarter[30] - Basic earnings per common share for the twelve months ended December 31, 2024, was $0.77, down from $0.85 in 2023, a decrease of 9.4%[44] - Net income for the twelve months ended December 31, 2024, was $68,715,000, down from $74,999,000 in 2023, reflecting a decrease of 8.4%[44] Asset and Liability Management - Total assets increased by $228.6 million to $11.9 billion from Q3 2024, and by $523.1 million from $11.4 billion at the end of Q4 2023[5] - Total loans and leases reached $9.8 billion, an increase of $137.7 million from Q4 2023[5] - Total deposits increased by $169.4 million to $8.9 billion from Q3 2024, and by $353.5 million from $8.5 billion at the end of Q4 2023[7] - Total assets as of September 30, 2024, were $11,905,326 thousand, an increase from $11,676,721 thousand at the end of the previous quarter[33] - Total liabilities increased to $10,348,045, up from $10,235,301, reflecting a growth of 1.1% year-over-year[51] Income and Expense Analysis - Net interest income rose to $85.0 million in Q4 2024, up from $83.0 million in Q3 2024, with a net interest margin of 3.12%[10] - Non-interest income for Q4 2024 was $6.6 million, an increase of $0.2 million from Q3 2024[12] - Total non-interest income decreased to $25,615,000 in 2024 from $31,934,000 in 2023, a decline of 19.6%[44] - Total non-interest expense increased to $241,865,000 in 2024 from $239,524,000 in 2023, a slight increase of 1.0%[44] - Non-interest expense increased to $63,719 thousand for the three months ended September 30, 2024, from $57,948 thousand in the previous quarter[30] Credit Quality and Provisions - The provision for credit losses decreased to $4.1 million in Q4 2024 from $4.8 million in Q3 2024[13] - Provision for credit losses on loans was $22,003,000 in 2024, significantly lower than $37,868,000 in 2023, indicating improved asset quality[44] - Nonperforming loans and leases as a percentage of total loans and leases decreased to 0.73% from 0.71%, indicating improved asset quality[47] - The allowance for loan and lease losses was $125,083 thousand, which is 1.28% of total loans and leases, consistent with the previous quarter's ratio of 1.31%[34] - Net charge-offs totaled $7,252 million, an increase from $3,808 million in the previous quarter, indicating higher credit losses[47] Tax and Regulatory Matters - The effective tax rate for Q4 2024 was 26.4%, compared to 24.7% in Q3 2024[18] - The effective tax rate for the twelve months ended December 31, 2024, was 24.5%, compared to 20.1% in 2023, representing an increase of 22%[60] Mergers and Acquisitions - The proposed merger with Berkshire Hills Bancorp is expected to close by the end of the second half of 2025, with Brookline stockholders owning approximately 45% of the combined company[23] - The company reported merger and acquisition expenses of $4,201 for the twelve months ended December 31, 2024, compared to $7,411 in 2023, indicating a decrease of 43%[60] Shareholder Metrics - Return on average assets (annualized) was 0.61% for the three months ended September 30, 2024, compared to 0.70% in the previous quarter[33] - Return on average stockholders' equity (annualized) was 5.69% for the three months ended September 30, 2024, down from 6.63% in the previous quarter[33] - Total stockholders' equity increased to $1,221,939 million from $1,198,644 million, reflecting a growth of approximately 1.9%[65] - Return on average tangible stockholders' equity was 7.21% for the three months ended December 31, 2024, compared to 10.12% in the previous quarter[62] Growth Metrics - Total interest and dividend income for the twelve months ended December 31, 2024, was $628,521,000, an increase from $577,287,000 in 2023, representing an 8.9% growth[43] - Total loans and leases for the twelve months ended December 31, 2024, amounted to $587,929,000, up from $533,739,000 in 2023, an increase of 10.1%[43] - Total commercial loans and leases increased to $52,957 million, up from $46,185 million, representing a growth of 14.5% year-over-year[47]