NASDAQ$BRKL

Brookline Bancorp Inc · Q1 2024 earnings

Q1 2024 earnings · · Investor relations

Briefing

Brookline Bancorp reported net income of $14.7 million and EPS of $0.16 for Q1 2024.

Brookline Bancorp reported a net income of $14.7 million, or $0.16 per basic and diluted share, for the first quarter of 2024. The company's total assets reached $11.5 billion, with increases in total loans and leases and total deposits. However, net interest income and total non-interest income decreased during the quarter.

  • Net income for Q1 2024 was $14.7 million, or $0.16 per share.
  • Total assets reached $11.5 billion, a slight increase from the previous quarter.
  • Net interest income decreased to $81.6 million.
  • A dividend of $0.135 per share was approved for the quarter.

Headline financials

Total Revenue

$81.6M

Previous: $86M-5.2%
EPS (adj)

$0.16

Previous: $0.27-40.7%
Net Interest Margin

3.1%

Previous: 3.4%-8.9%
Return on Average Assets (Annualized)

0.5%

Previous: 0.3%+88.9%
Return on Average Tangible Stockholders' Equity (Annualized)

6.3%

No prior period
Nonperforming Loans and Leases as a Percentage of Total Loans and Leases

0.4%

No prior period
Allowance for Loan and Lease Losses

$120M

No prior period
Nonperforming Assets as a Percentage of Total Assets

0.4%

No prior period
Net Loan and Lease Charge-offs as a Percentage of Average Loans and Leases (Annualized)

0.4%

No prior period
Stockholders' Equity to Total Assets

10.3%

Previous: 10.1%+2.4%
Tangible Stockholders' Equity to Tangible Assets (Non-GAAP)

8.3%

No prior period
Efficiency Ratio

69.4%

No prior period
Capital Expenditures

$2M

Previous: $3.77M-47.0%
Net Income

$14.7M

Previous: $7.6M+93.4%

Revenue & EPS history

Brookline Bancorp · Revenue · Quarterly

$81.6M

Q1 2024-5.2%vs Q1 2023
Beat estimate in 7 of 15 quarters(47%)
ActualEstimate

Forward guidance

The Company anticipates margin pressure to persist but remains optimistic about the economic outlook in its markets.

Tailwinds

  • Optimistic about the overall economic outlook in our markets
  • Remain active in our communities
  • Dedicated team of bankers continues to provide our customers with the exceptional service they have come to appreciate.

Headwinds

  • Company, along with the rest of the banking industry, continues to face margin pressure.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 6 quarterly earnings reports · overlaid with Q1 2024

Historical avgQ1 2024

+0.2%

Avg return

Earnings day

+0.9%

Avg return

5 days after

+0.3%

Avg return

30 days after

56%

37 / 66 earnings

Positive

+5.6%

Q1 2015

Best reaction

-11.9%

Q1 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026
Q4 2025
Q3 2025
Q2 2025-1.9%-3.1%+1.5%
Q1 2025+2.4%+3.2%+1.6%
Q4 2024+2.0%+4.0%-2.0%
Q3 2024+0.9%+7.8%+20.6%
Q2 2024-0.4%-0.1%-1.7%
Q1 2024-11.9%-12.5%-8.8%
Q4 2023+4.2%+6.8%-8.9%
Q3 2023+2.6%
Q2 2023+3.9%
Q1 2023-0.4%
Q4 2022-6.6%
Q3 2022+0.8%
Q2 2022+3.2%
Q1 2022+0.4%
Q4 2021-0.8%
Q3 2021+0.6%
Q2 2021+4.2%
Q1 2021+1.9%
Q4 2020-1.3%
Q3 2020-0.5%
Q2 2020+1.6%
Q1 2020-10.3%
Q4 2019+0.6%
Q3 2019+4.9%
Q2 2019-1.8%
Q1 2019+2.0%
Q4 2018+1.7%
Q3 2018+1.6%
Q2 2018-0.8%
Q1 2018+2.1%
Q4 2017+5.0%
Q3 2017+0.0%
Q2 2017+1.4%
Q1 2017-5.8%
Q4 2016+3.4%
Q3 2016+4.1%
Q2 2016-1.0%
Q1 2016+0.3%
Q4 2015+1.1%
Q3 2015+4.9%
Q2 2015+0.0%
Q1 2015+5.6%
Q4 2014+3.2%
Q3 2014+1.5%
Q2 2014-0.9%
Q1 2014-0.9%
Q4 2013-3.4%
Q3 2013-2.8%
Q2 2013+3.4%
Q1 2013-4.3%
Q4 2012-1.8%
Q3 2012-0.8%
Q2 2012-0.5%
Q1 2012+0.5%
Q4 2011-2.0%
Q3 2011-7.2%
Q2 2011-0.9%
Q1 2010-1.2%
Q1 2011+1.2%
Q4 2010+0.5%
Q4 2008+0.5%
Q4 2009+0.5%
Q3 2010+3.8%
Q3 2009+3.8%
Q2 2010-0.1%
Q2 2009-0.1%

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