Banker & Tradesman file photo

The parent company of Brookline Bank has completed its acquisition of New York-based PCSB Bank, giving the company its first bank outside the eastern part of New England.

Brookline Bancorp Inc. said in a statement yesterday that it had acquired effective Jan. 1 the $1.9 billion-asset holding company PCSB Financial Corp., based in Yorktown Heights, New York. The cash and stock deal valued at approximately $313 million gives Brookline Bancorp a subsidiary bank with 15 offices in New York’s Lower Hudson Valley.

PCSB Bank joins Brookline Bank and Bank Rhode Island as the company’s subsidiary banks with separate charters. Following the transaction, Brookline Bancorp has about $11 billion in assets.

“I am pleased to welcome the customers and employees of PCSB Bank to Brookline Bancorp,” Paul Perrault, Brookline Bancorp’s chairman and CEO, said in the statement. “The addition of PCSB Bank to our growing family of banks represents a unique opportunity for us to expand our banking operations into one of the country’s largest markets. We look forward to deepening the already strong bonds PCSB has forged within the community.”

With the closing of the transaction, Michael P. Goldrick became PCSB Bank’s president and CEO. He was previously the bank’s executive vice president and chief lending officer.

Willard Hill Jr., a member of PCSB Financial Corp. and PCSB Bank boards, has been added to Brookline Bancorp’s board as part of the deal. Hill had joined PCSB’s boards in 2017 and has stepped down from the PCSB Bank board, the statement said.

“The addition of Willard Hill, Jr. to our board and the appointment of Michael Goldrick as President and CEO of PCSB Bank ensures a smooth transition and continued growth at PCSB Bank for years to come,” Perrault said. “I look forward to working with both of these seasoned leaders.”

Perrault will join the PCSB Bank’s board, which also includes the bank’s former leader, Joseph D. Roberto.