The upcoming report from Brookline Bancorp (BRKL) is expected to reveal quarterly earnings of $0.23 per share, indicating a decline of 41% compared to the year-ago period. Analysts forecast revenues of $89.38 million, representing an increase of 0.3% year over year.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company announces its earnings, it ...

Consumer Loans The consumer loan portfolio, which is composed of residential mortgage loans, home equity loans and lines of credit, and other consumer loans, represented 15.6% of total loans outstanding as of September 30, 2023. The Company focuses its mortgage and home equity lending on existing and new customers within its branch networks in its urban and suburban marketplaces in the greater Boston, Lower Hudson Valley of New York, and Providence metropolitan areas. Table of Contents Criticized and Classi ...

Deposits B Floating (<3m) 21% Adj. 42% Fixed 37% Cumulative Net Interest Income Change by Quarter 09/30/2023 Flat Balance Sheet, simulations reflect a product weighted beta of 39% on total deposits. 22 Deposit and Funding Betas - Percentage Change in Cost versus Change in Federal Funds Rate The Federal Reserve began increasing the Federal Funds rate in March 2022 and has increased rates 525 basis points through September 2023. Q1'22: 0.25% Q2'22: 1.25% Q3'22: 1.50% Q4'22: 1.25% Q1'23: 0.50% Q2'23: 0.25% Q3' ...

Thank you. Our next question comes from Steve Moss of Raymond James. Your line is now open. Please go ahead. Steve Moss Hi. Good afternoon. Yes curious here - just curious here, if you just talk about loan pricing, you know where new loans are coming on the books and kind of that dynamic? Carl Carlson Sure. What would you like to know? Steve Moss Where are you pricing today and versus what did you put on in the third quarter? Let's put it that way? Carl Carlson Paul Perrault Thanks, Chris. Carl Carlson Than ...

Notes to Unaudited Consolidated Financial Statements (Continued) On January 1, 2023, the Company completed its previously announced acquisition (the "merger") of PCSB Financial Corporation ("PCSB"). Pursuant to the merger agreement, each share of PCSB common stock outstanding at the effective time of the merger was converted into the right to receive, at the holder's election, either $22.00 in cash consideration or 1.3284 shares of Company common stock for each share of PCSB common stock, subject to allocat ...

Laura Vaughn - Attorney Conference Call Participants Christopher O'Connell - KBW I would now like to turn the conference over to Brookline Bancorp's Attorney, Laura Vaughn. Please go ahead. This call may contain forward-looking statements with respect to the financial condition, results of operations and business of Brookline Bancorp. I'm pleased to introduce Brookline Bancorp's Chairman and CEO, Paul Perrault. Yesterday, we reported net income for the quarter of $21.9 million or $0.25 per share. Excluding ...

Notes to Unaudited Consolidated Financial Statements (Continued) | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------------------------|-------|---------------------------------|---------------|-------------------|-------|------------------------------------------------------------|--------------------------------------|--------------------------|-------|------------------------|-------|-------------------| | | Fair | Twelve Les ...

Amounts as presented may differ slightly from the Company's Earnings Release due to rounding to foot schedules presented. 25 April 26, 2023 BROOKLINE BANCORP 1 Forward Looking Statements 2 Quarterly Net Income of $7.6 million and EPS of $0.09 Total Assets of $11.5 billion, growth of $2.3 billion. Deposits grew $1.9 billion to $8.5 billion. NPAs to total assets of 0.25%. Strong liquidity management which improved further with PCSB acquisition. 1Q 2023 Financial Results B Certain statements contained in this ...

Brookline Bancorp, Inc. (NASDAQ:BRKL) Q1 2023 Earnings Conference Call April 27, 2023 1:30 PM ET Company Participants Laura Vaughn - Investor Relations Paul Perrault - Chairman and Chief Executive Officer Carl Carlson - Chief Financial Officer Mark Fitzgibbon - Piper Sandler Steve Moss - Raymond James Chris OÂ'Connell - KBW Good afternoon and welcome to Brookline Bancorp, Inc.Â's First Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode. After todayÂ's presentation, there w ...

Net Interest Income and Margin - Net interest income increased by $17.4 million (6.2%) to $299.8 million in 2022 compared to $282.4 million in 2021[277] - Net interest margin increased by 18 basis points to 3.67% in 2022 from 3.49% in 2021[277] - Net interest margin increased by 32 basis points to 3.49% in 2021, with 15 basis points attributed to PPP fee income[89] - Net interest income increased by $22.2 million to $282.4 million in 2021, reflecting a $37.5 million decrease in interest expense on deposits and borrowings[87] Net Income and Earnings Per Share - Net income decreased by $5.7 million (4.9%) to $109.7 million in 2022 from $115.4 million in 2021[277] - Basic and fully diluted earnings per common share (EPS) decreased to $1.42 in 2022 from $1.48 in 2021[277] Capital and Regulatory Requirements - The company and its banks are required to maintain a minimum common equity Tier 1 capital ratio of 4.5%, a minimum Tier 1 capital ratio of 6.0%, a minimum total capital requirement of 8.0%, and a minimum leverage ratio of 4.0%[327] - The company is required to maintain a capital conservation buffer of common equity Tier 1 capital above the minimum risk-based capital requirements, or face restrictions on dividends, discretionary bonuses, and share repurchases[327] - The company is considered "well capitalized" under the FRB's rules applicable to bank holding companies[301] - The company's ability to pay dividends may be restricted if it does not maintain the required capital conservation buffer[304] Deposits and Core Deposits - Core deposits decreased by $0.5 billion in 2022, with the ratio of core deposits to total deposits declining from 81.8% as of December 31, 2021, to 81.0% as of December 31, 2022[63] - As of December 31, 2022, neither of the banks had brokered deposits exceeding 10% of total assets[323] Interest Rate Risk and Sensitivity - The company's assets and liabilities are vulnerable to interest-rate risk due to differences in duration and repricing dates, which is inherent to the banking business[73] - The company's interest-rate risk position is measured using income simulation and gap analysis, remaining modestly asset-sensitive as of December 31, 2022[103] - A 300 basis points interest rate shock would result in a $22.79 million (7.4%) increase in net interest income over a twelve-month horizon[104] - The company's EVE asset sensitivity decreased from 2021 to 2022 due to deposit outflows, increased wholesale funding, and an inverted yield curve[105] - The company manages interest-rate risk through strategies such as adjusting securities maturities, limiting fixed-rate deposits, and using interest rate swaps[102] Interest Income and Expenses - Interest paid on deposits decreased by $27.7 million (57.2%) in 2021, driven by lower interest rates and certificate of deposit balances[90] - Total interest income from investments increased by 20.7% to $16,417 thousand in 2022 from $13,602 thousand in 2021[111] - Interest income from debt securities rose by 7.4% to $13,079 thousand in 2022 from $12,178 thousand in 2021[111] - Interest income from marketable and restricted equity securities surged by 61.9% to $1,898 thousand in 2022 from $1,172 thousand in 2021[111] - Interest income from short-term investments skyrocketed by 471.4% to $1,440 thousand in 2022 from $252 thousand in 2021[111] - The yield on interest-earning assets decreased to 3.85% in 2021 from 3.99% in 2020[118] - Interest income from loans and leases decreased by $11.9 million to $297.9 million in 2021, with a yield of 4.19% compared to 4.30% in 2020[119] - The decrease in interest income from loans and leases was primarily due to a $3.4 million decrease in origination volume and an $8.5 million decrease related to interest rate changes[119] Provision for Credit Losses - Provision for credit losses increased by $16.4 million to $8.6 million in 2022 from a credit of $7.8 million in 2021, primarily due to loan growth and economic forecasts[82] Other Income and Expenses - Other income increased by $0.6 million (9.8%) to $6.5 million in 2022, driven by higher wealth management income and commissions[83] - Compensation and employee benefits expense increased by $6.7 million (6.3%) to $113.5 million in 2022, due to higher employee headcount and salaries[85] - Total non-interest expense increased by $16.9 million (10.4%) to $179.5 million in 2022, driven by higher compensation, occupancy, and equipment costs[115] - Merger and acquisition expenses increased by $2.2 million to $2.2 million in 2022, primarily due to the PCSB acquisition[116] Tax Rate and Dividends - The company's effective tax rate decreased to 21.6% in 2022 from 25.3% in 2021, reflecting participation in energy tax credit deals[117] - Dividend payout ratio increased to 36.5% in 2022 from 32.5% in 2021, with quarterly dividends of $0.125, $0.130, $0.130, and $0.135 per share respectively[71] Regulatory Compliance and Legal Requirements - The company is subject to the Bank Secrecy Act and the USA PATRIOT Act, requiring systems to detect and report cash transactions of at least $10,000 and suspicious activity involving more than $5,000[337] - The company must comply with the Gramm-Leach-Bliley Act (GLBA), which mandates policies and procedures for disclosing nonpublic personal information and maintaining a comprehensive information security program[336] - The company is subject to the Community Reinvestment Act and must seek prior approval from regulatory bodies for acquisitions or new branch establishments[321][324] - The company did not have any transactions with sanctioned countries, nationals, or others as of December 31, 2022[311] Market and Economic Conditions - The company primarily serves individuals and businesses in the greater Boston metropolitan area, eastern Massachusetts, Rhode Island, New York, and New Jersey, making it vulnerable to local economic conditions[340] Asset and Liability Management - Interest-earning assets maturing or repricing within one year amounted to $4.19 billion, with a weighted average rate of 5.77%[106] - Interest-bearing liabilities maturing or repricing within one year amounted to $4.18 billion, with a weighted average rate of 2.35%[106] - The cumulative one-year positive gap position was $9.3 million, or 0.11% of total interest-earning assets, as of December 31, 2022[107] Commercial Lending and Risk Management - The largest commercial relationship in the company's portfolio as of December 31, 2022, was $66.1 million[281] - The company focuses on growing its commercial lending businesses organically and through acquisitions, emphasizing customer relationships and risk management[122] FDIC Insurance and Costs - The company's FDIC insurance assessment costs for the year ending December 31, 2022, were approximately $3.2 million[319] Volcker Rule and Asset Size - The company's total consolidated assets exceeded $10 billion as of January 1, 2023, making it subject to the Volcker Rule[307] Stock Market Listing - The company's common stock is traded on the Nasdaq Global Select Market under the symbol "BRKL"[286] Prepayment Penalties and Late Charges - The company recorded $5.9 million in prepayment penalties and late charges in 2021, contributing 7 basis points to yields on interest-earning assets[118]