News Summary
Brookline Bancorp Inc. has reported a net income of $19.1 million for Q1 2025, a 30.2% increase year-over-year, though it fell short of Wall Street earnings expectations. The company’s total quarterly revenue reached $159.4 million, and it is currently navigating a major merger with Berkshire Hills Bancorp valued at $1.1 billion. The merger is set to create a combined entity with $24 billion in assets, aiming to enhance operational efficiency across five states. The company’s shares have seen a 14% decline in 2025 but are still up 7% compared to the previous year.
Boston, Massachusetts – Brookline Bancorp Inc. has announced a net income of $19.1 million for the first quarter of 2025, marking a significant 30.2% increase compared to the same period last year. Despite this growth, the financial results fell short of Wall Street expectations, with earnings per share (EPS) reported at 21 cents, below the average estimate of 23 cents per share.
The company’s total quarterly revenue reached $159.4 million, while adjusted revenue, excluding certain costs such as those related to mergers and acquisitions, amounted to $91.5 million. Brookline Bancorp’s market performance has seen declines, with shares down about 14% since the beginning of 2025, although they have experienced a 7% increase over the past year and are currently trading at $10.20.
Brookline Bancorp is the parent organization of Bank Rhode Island, Brookline Bank, and PCSB Bank, and has reported total assets of $11.9 billion. The company is expected to provide a more detailed report of its first quarter 2025 earnings on April 23, 2025, followed by a conference call scheduled for April 24, 2025, at 1:30 PM Eastern Time.
In addition to its quarterly performance, Brookline Bancorp is currently in the process of merging with Berkshire Hills Bancorp Inc. in a deal valued at $1.1 billion. Following the successful completion of this merger, Brookline shareholders will receive 0.42 shares of Berkshire for each outstanding share they hold in Brookline. This merger is anticipated to close in the second half of 2025 and is projected to create a combined entity with $24 billion in assets, operating across five states.
Leadership of the post-merger company will see Brookline’s CEO, Paul Perrault, take on the roles of president and CEO of the newly formed bank. Governance of the new organization will feature a board consisting of eight directors from each organization, with Brookline’s chair leading the group. The merged company will be organized into six distinct regions to enhance operational efficiency and local decision-making.
The announcement of the new bank’s name and ticker symbol, along with further details regarding its governance structure, is expected prior to the merger’s completion. This transition aims to leverage the strengths of both banking institutions to better serve a broader customer base across multiple states.
Brookline Bancorp’s solid quarterly results, despite missing analyst forecasts, indicate a resilient financial position, which may serve as a foundation for future growth, particularly as the company prepares for its significant merger with Berkshire Hills Bancorp.
Deeper Dive: News & Info About This Topic
- GlobeNewswire: Brookline Bancorp Earnings Announcement
- Connecticut Post: Brookline Q1 Earnings Snapshot
- NBC Boston: Berkshire Bank to Buy Brookline Bank
- Wikipedia: Brookline Bancorp
- Google Search: Brookline Bancorp merger
Author: STAFF HERE PROVIDENCE WRITER
PROVIDENCE STAFF WRITER The PROVIDENCE STAFF WRITER represents the experienced team at HEREProvidence.com, your go-to source for actionable local news and information in Providence, Providence County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as WaterFire, Rhode Island International Film Festival, and Rhode Island Comic Con. Our coverage extends to key organizations like the Greater Providence Chamber of Commerce and Providence Warwick Convention & Visitors Bureau, plus leading businesses in finance and manufacturing that power the local economy such as Citizens Financial Group and Textron. As part of the broader HERE network, we provide comprehensive, credible insights into Rhode Island's dynamic landscape.
