BankRI parent sees declines in profit, revenue for 2013

Brookline Bancorp Inc., parent company of Bank Rhode Island, posted earnings of $35.4 million for 2013, a decline of 4.7 percent compared with $37.1 million of net income for 2012. More

To continue reading this article, please do one of the following.



banking

BankRI parent sees declines in profit, revenue for 2013

BANK RHODE ISLAND parent Brookline Bancorp Inc. reported Thursday that its earnings rose 4.7 percent in 2013 to $35.4 million, compared with $37.1 million in 2012.
Posted 1/30/14

BOSTON – Brookline Bancorp Inc., parent company of Bank Rhode Island, posted earnings of $35.4 million for 2013, a decline of 4.7 percent compared with $37.1 million of net income for 2012.

Diluted earnings per share were 51 cents, a decrease of 3.8 percent compared with 53 cents per diluted share in 2012.

“Like all of the financial institutions in New England, we continue to experience ongoing competitive, economic and regulatory pressures, and while we are starting to see some stability in the economy, regulatory and competitive pressures remain a significant challenge,” said Brookline Bancorp President and CEO Paul Perrault during the bank’s review of fourth-quarter and full-year 2013 earnings Thursday.

“As for this past year, first and foremost, we are pleased with our continued strong growth in the company’s commercial and commercial real estate loan portfolio,” Perrault said. “We are especially pleased with the growth in our equipment finance group.”

As of Dec. 31, 2103, the bank’s commercial real estate and commercial loan and lease portfolios totaled $3.2 billion, an increase of 11.1 percent compared with the total at the end of 2012.

Total interest and non-interest income of $220.2 million for 2013 represented a decline of 5 percent from the previous year’s total of $231.8 million.

The bank did not break out results for Bank Rhode Island.

Calendar
PBN Hosted
Events

Two Great Programs...One Great Event. PBN's Annual Celebration of Growth and Innovation is now underway. 2014 applications are now available. Deadline August 1st.
  • Healthiest Employers
    Celebrate with the Healthiest Employers in RI on August 14th at the Providence M ...
  • 40 Under Forty
    Thank you to our sponsors and to all those who attended the 10th Anniversary of ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement