Brookline Bancorp Inc., parent company of Brookline Bank, has reported second-quarter net income of $4.7 million, compared to $3.7 million for the second quarter last year – a 27 percent improvement.

Net income for the first half of 2009 was $8.1 million, compared to $6.4 million for the first half of 2008 – a 26.6 percent increase.

Deposits grew 13 percent, to $173.1 million, in the first half of the year. Of that, $64.6 million occurred in the second quarter.

The company also reduced provisions for loan losses, especially in the second quarter, due primarily to "a significant decline in indirect automobile loan net charge-offs," the company said.

The company’s board of directors has also approved of a regular quarterly dividend of $0.085 per share payable Aug. 17 to stockholders of record July 31.

Brookline Bank Q2 Net Up 27 Percent

by Banker & Tradesman time to read: <1 min
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