Brookline Bancorp, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter net income attributable to company was $8,813,000 or $0.13 diluted earnings per share against net income attributable to company of $6,349,000 or $0.09 diluted earnings per share a year ago. Income before income taxes was $14,369,000 against $11,533,000 a year ago. Total interest and dividend income was $51,612,000 and net interest income was $43,669,000 against total interest and dividend income of $52,991,000 and net interest income of $43,634,000 a year ago. Net earnings from operations was $8,813,000 against $10,321,000 a year ago. As on date, book value per share was $8.77 against $8.58 per share a year ago. Return on average assets was 0.70% and return on average stockholders' equity was 5.72% against return on average assets of 0.52% and return on average stockholders' equity of 4.25% a year ago. The decrease in net interest income was primarily caused by a $1.2 million decrease in interest income on loans and leases, offset by a decrease of $0.5 million in interest expense. The decrease in interest income on loans and leases was driven by continued interest-rate pressure in the marketplace as well as a decrease of $0.3 million in purchase accounting accretion. The company announced net charge-offs for the quarter was $419,000 against $522,000 a year ago.

Brookline Bancorp, Inc. Board of Directors approved, for the 44 consecutive quarter, a dividend of $0.085 per share. The dividend will be paid on May 24, 2013, to shareholders of record on May 10, 2013.

Brookline Bancorp, Inc., Q1 2013 Earnings Call, Apr 25, 2013