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.