Brookline posts 20.8% increase in net income

BROOKLINE, Mass. – Brookline Bancorp Inc. posted profit of $44.9 million for 2014, an increase of 20.8 percent on the 2013 results. Total interest and noninterest income increased 7.5 percent to $236.6 million.
The bank attributed the increase to loan growth and improvements in its asset quality.
Brookline Bancorp, parent company of Bank Rhode Island, reported earnings of 61 cents per diluted share compared with 51 cents per diluted share for the year ended Dec. 31, 2013.
Total assets increased 9 percent to $5.8 billion in 2014, bolstered by a 9 percent increase of loan and leases totaling $4.8 billion in the same year.
A breakdown of Bank Rhode Island results was not immediately available.
Net income in the fourth quarter came to $10.8 million, an increase of 40.9 percent, and earnings per diluted share were 15 cents. The bank will pay an 8.5 cent per-share, fourth-quarter dividend. •

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