Published on 22 Jan 2024 on GuruFocus.com via Yahoo Finance

Brookline Bancorp Inc (BRKL) Reports Mixed Fourth Quarter Results Amidst Industry Headwinds

Net Income: $22.9 million for Q4 2023, consistent with Q3 but down from $29.7 million in Q4 2022.Earnings Per Share (EPS): Remained at $0.26 for Q4, a decrease from $0.39 in the same quarter last year.Net Interest Income: Slight decrease to $83.6 million in Q4 from $84.1 million in Q3.Net Interest Margin: Declined to 3.15% in Q4, a drop from 3.18% in the previous quarter.Asset Growth: Total assets grew to $11.4 billion, up from $11.2 billion in Q3 and a significant increase from $9.2 billion year-over-year.Loan and Lease Growth: Increased to $9.6 billion, up $260.8 million from Q3 and $2.0 billion from the previous year.Dividend: Declared a quarterly dividend of $0.135 per share.

Warning! GuruFocus has detected 3 Warning Signs with BRKL.

On January 24, 2024, Brookline Bancorp Inc (NASDAQ:BRKL) released its 8-K filing, detailing its financial performance for the fourth quarter of 2023. The multi-bank holding company, known for its commercial, business, and retail banking services, reported a net income of $22.9 million, or $0.26 per basic and diluted share, for the fourth quarter of 2023. This figure is consistent with the third quarter of 2023 but represents a decline from the $29.7 million, or $0.39 per share, reported in the fourth quarter of the previous year.