Brookline Bancorp Reports Quarterly Earnings and Dividend Approval

Brookline Bancorp, Inc. recently announced its financial results for the quarter ended December 31, 2024, in a press release issued on January 29th, 2025. The Board of Directors of the company revealed that they had approved a regular quarterly dividend of $0.135 per share. This dividend will be payable on February 28, 2025, to shareholders of record as of February 14, 2025.

In a Regulation FD Disclosure, Brookline Bancorp mentioned that along with the earnings release, an investor presentation was posted on its website at www.brooklinebancorp.com. The presentation showcased the company’s operational achievements and strategies.

For the fourth quarter of 2024, Brookline Bancorp reported revenue of $206.1 million, marking a 2.6% increase from the preceding quarter. The company’s gross margin reached a record 55.0% in the same quarter, showing a substantial year-over-year increase of 1,220 basis points.

The GAAP net loss for the fourth quarter of 2024 was $17.9 million, reflecting adjustments, including stock-based compensation and intangible asset amortization. Excluding these, the non-GAAP net income was $5.2 million for the same quarter.

Looking ahead to the first quarter of 2025, Brookline Bancorp provided guidance. The company anticipates revenue to be in the range of $204 million to $210 million with a non-GAAP gross margin of 55.5%. The non-GAAP operating expenses are expected to be between $105.5 million and $107.5 million.

Brookline Bancorp’s strong balance sheet was highlighted in the report for the year, ending with record cash and investments of $297.1 million. The company remains optimistic about its growth prospects and is focused on delivering value to its shareholders.

Investors interested in further details on Brookline Bancorp’s financial performance and future outlook can access the complete 8-K SEC filing on the SEC’s EDGAR database or the company’s official website.

Please note that the information provided is based on the official SEC filing by Brookline Bancorp, Inc. dated January 29, 2025, and subsequent public disclosures. Always consult official sources for accurate and current information on the company’s financial status.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Brookline Bancorp’s 8K filing here.

About Brookline Bancorp

Brookline Bancorp, Inc operates as a bank holding company for the Brookline Bank that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include demand checking, NOW, money market, and savings accounts. The company’s loan portfolio primarily comprises first mortgage loans secured by commercial, multi-family, and residential real estate properties; loans to business entities comprising commercial lines of credit; loans to condominium associations; loans and leases used to finance equipment for small businesses; financing for construction and development projects; and home equity and other consumer loans.