Brookline Bancorp, Inc., a Delaware corporation, operates as a multi-bank holding
company for Brookline Bank and its subsidiaries, Bank Rhode Island ("BankRI")
and its subsidiaries, First Ipswich Bank ("First Ipswich") and its
subsidiaries, and Brookline Securities Corp.
Brookline Bank, which includes its wholly-owned subsidiaries, BBS Investment
Corp. and Longwood Securities Corp., and its 84.5%-owned subsidiary, Eastern
Funding LLC ("Eastern Funding"), operates 25 full-service banking
offices in the greater Boston metropolitan area. Brookline Bank was established
as a savings bank in 1871 under the name Brookline Savings Bank. The Company
was organized in November 1997 for the purpose of acquiring all of the capital
stock of Brookline Savings Bank on completion of the reorganization of Brookline
Savings Bank from a mutual savings bank into a mutual holding company structure
and partial public offering. In 2002, the Company became fully public. In January
2003, Brookline Savings Bank changed its name to Brookline Bank.
As a commercially-focused financial institution with 49 full-service banking
offices throughout greater Boston, the north shore of Massachusetts, and Rhode
Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually
and collectively, the "Banks"), offers a wide range of commercial,
business and retail banking services, including a full complement of cash management
products, on-line banking services, consumer and residential loans and investment
services, designed to meet the financial needs of small- to mid-sized businesses
and individuals throughout central New England. Specialty lending activities
including equipment financing are focused primarily in the New York and New
Jersey metropolitan area.
The Company focuses its business efforts on profitably growing its commercial
lending businesses, both organically and through acquisitions. The Companys
customer focus, multi-bank structure, and risk management are integral to its
organic growth strategy and serve to differentiate the Company from its competitors.
As full-service financial institutions, the Banks and their subsidiaries focus
on the continued addition of well-qualified customers, the deepening of long-term
banking relationships through a full complement of products and excellent customer
service, and strong risk management. The Companys multi-bank structure retains
the local-bank orientation while relieving local bank management of the responsibility
for most back-office functions, which are consolidated at the holding company
level. Branding and decision-making, including credit decisions and pricing,
remain largely local in order to better meet the needs of bank customers and
further motivate the Banks commercial, business and retail bankers.
The Company, has, from time to time, acquired other business lines or financial
institutions that it believes share the Companys relationship and customer
service orientations and provide access to complementary markets, customers,
products and services. The Company expanded its geographic footprint with the
acquisitions of First Ipswich in February 2011 and BankRI in January 2012.
The Companys headquarters and executive management are located at 131 Clarendon
Street, Boston, Massachusetts 02116 and its telephone number is 617-425-4600.
Repayment of multi-family and commercial real estate loans is generally dependent
on the properties generating sufficient income to cover operating expenses and
debt service. Repayment of commercial loans and equipment financing loans and
leases generally is dependent on the demand for the borrowers products or services
and the ability of borrowers to compete and operate on a profitable basis. Repayment
of residential mortgage loans, home equity loans and indirect automobile loans
generally is dependent on the financial well-being of the borrowers and their
capacity to service their debt levels. The asset quality of the Companys loan
and lease portfolio, therefore, is greatly affected by the economy.
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