Overview
- IndustrySavings Institution, Federally Chartered1
- HeadquartersBoston, Massachusetts1
- Incorporated inDE2
- Business address131 Clarendon Street, Boston, Ma 021162
- Filer categoryLarge accelerated filer2
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Brookline Bancorp, Inc., a Delaware corporation, is the holding company for Brookline Bank and its subsidiaries, BankRI and its subsidiaries, PCSB Bank and its subsidiaries, and Clarendon Private. Brookline Securities Corp, previously a subsidiary of Brookline Bancorp, Inc., was dissolved in November 2023.3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Interest | $66.2M4 | $94.3M5 | $66.7M6 | $29.2M7 | $45.4M7 | $237.6M7 | ||
| Income before tax | $154.6M7 | $139.9M8 | $93.9M8 | $91.7M8 | ||||
| Income tax | $26.2M4 | $28.3M5 | $14.4M6 | $39.2M7 | $30.2M8 | $18.9M8 | $23.0M8 | |
| Net income | $83.1M4 | $87.7M5 | $47.6M6 | $115.4M7 | $109.7M8 | $75.0M8 | $68.7M8 | |
| Earnings per share | $1.044 | $1.105 | $0.606 | $1.487 | $1.428 | $0.858 | $0.778 | |
| Earnings per share (diluted) | $1.044 | $1.105 | $0.606 | $1.487 | $1.428 | $0.858 | $0.778 | |
| Shares (weighted, basic) | 78.0M shares7 | 77.1M shares8 | 88.2M shares8 | 89.0M shares8 | ||||
| Shares (weighted, diluted) | 78.2M shares7 | 77.4M shares8 | 88.5M shares8 | 89.3M shares8 |
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash | $89.6M11 | $77.8M4 | $434.9M5 | $327.7M6 | $383.0M7 | $133.0M8 | $543.7M8 | |
| Property, plant and equipment | $70.4M6 | $71.4M7 | $89.9M8 | $86.8M8 | ||||
| Goodwill | $160.4M7 | $160.4M8 | $241.2M8 | $241.2M8 | ||||
| Intangible assets | $2.3M6 | $1.8M7 | $24.2M8 | $17.5M8 | ||||
| Total assets | $7.4B11 | $7.9B4 | $8.9B5 | $8.6B6 | $9.2B7 | $11.4B8 | $11.9B8 | |
| Long-term debt | $920.5M11 | $902.7M4 | $820.2M5 | $357.3M6 | $1.4B7 | $1.4B8 | $1.5B8 | |
| Total liabilities | $6.5B11 | $6.9B4 | $8.0B5 | $7.6B6 | $8.2B7 | $10.2B8 | $10.7B8 | |
| Retained earnings | $342.6M6 | $412.0M6 | ||||||
| Shareholders’ equity | $900.1M11 | $945.6M6 | $941.8M7 | $995.3M8 | $992.1M8 | $1.2B8 | $1.2B8 | |
| Shares outstanding | 76.8M shares12 | 79.8M shares13 | 79.8M shares11 | 78.2M shares4 | 77.6M shares5 | 88.7M shares6 | 88.9M shares7 | 89.1M shares14 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | $123.0M4 | $102.7M5 | $112.5M6 | $133.2M7 | $120.8M8 | $116.6M8 | $105.0M8 | |
| Depreciation and amortization | $5.9M6 | $6.1M7 | $8.5M8 | $8.0M8 | ||||
| Stock-based compensation | $2.6M7 | $3.3M8 | $4.1M8 | $3.9M8 | ||||
| Capital spending | $3.4M4 | $5.0M5 | $2.9M6 | $4.8M7 | $7.4M8 | $12.4M8 | $5.0M8 | |
| Free cash flow | $119.7M | $97.7M | $109.6M | $128.4M | $113.4M | $104.2M | $100.0M | |
| Cash from investing | $131.1M7 | -$557.7M8 | -$665.3M8 | -$139.6M8 | ||||
| Dividends paid | $31.4M4 | $35.1M5 | $36.4M6 | $37.5M7 | $40.1M8 | $47.9M8 | $48.1M8 | |
| Share buybacks | $10.0M4 | $1.9M5 | $20.0M6 | $10.0M7 | $13.8M8 | $08 | $08 | |
| Cash from financing | -$371.5M7 | $492.2M8 | $298.7M8 | $445.3M8 | ||||
| Dividend per share | $0.404 | $0.455 | $0.466 | $0.497 | $0.538 | $0.548 | $0.548 |
Corporate structure
BROOKLINE BANCORP INC sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of BROOKLINE BANCORP INC
- DIMENSIONAL FUND ADVISORS LP Filed SCHEDULE 13G/A on BROOKLINE BANCORP INC, latest Oct 9, 2025 (4 filings since Feb 8, 2022)
- State Street Corporation Filed SCHEDULE 13G on BROOKLINE BANCORP INC, latest May 13, 2025 (2 filings since Feb 5, 2025)
- Prudential Financial Filed SC 13G/A on BROOKLINE BANCORP INC, latest Nov 14, 2024 (2 filings since Feb 13, 2024)
- FULLER & THALER ASSET MANAGEMENT, INC. Filed SC 13G/A on BROOKLINE BANCORP INC, latest Nov 12, 2024 (4 filings since Feb 8, 2022)
- JENNISON ASSOCIATES LLC Filed SC 13G/A on BROOKLINE BANCORP INC, latest Nov 12, 2024 (2 filings since Feb 8, 2024)
- VANGUARD GROUP INC Filed SC 13G/A on BROOKLINE BANCORP INC, latest Feb 13, 2024 (3 filings since Feb 9, 2022)
- BlackRock Filed SC 13G/A on BROOKLINE BANCORP INC, latest Jan 22, 2024 (5 filings since Jan 26, 2022)
- BROOKLINE BANCORP INC Boston, Massachusetts
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What BROOKLINE BANCORP INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $190.2M8 Dec 31, 2024 | $190.3M8 Dec 31, 2023 | 0% |
| Accumulated depreciation | $103.5M8 Dec 31, 2024 | $100.4M8 Dec 31, 2023 | +3.0% |
| Property and equipment, net | $86.8M8 Dec 31, 2024 | $89.9M8 Dec 31, 2023 | −3.4% |
| Operating-lease assets (leased space) | $43.5M8 Dec 31, 2024 | $30.9M8 Dec 31, 2023 | +41.0% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $543.7M8 Dec 31, 2024 | $133.0M8 Dec 31, 2023 | +308.7% |
| Loans, net of allowance | $9.7B8 Dec 31, 2024 | $9.5B8 Dec 31, 2023 | +1.4% |
| Deposits held (banks) | $8.9B8 Dec 31, 2024 | $8.5B8 Dec 31, 2023 | +4.1% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $241.2M8 Dec 31, 2024 | $241.2M8 Dec 31, 2023 | 0% |
| Intangible assets, net (excluding goodwill) | $17.5M8 Dec 31, 2024 | $24.2M8 Dec 31, 2023 | −27.9% |
| Finite-lived intangibles, gross | $34.0M8 Dec 31, 2024 | $72.2M8 Dec 31, 2023 | −52.9% |
| Accumulated amortization | $16.5M8 Dec 31, 2024 | $48.0M8 Dec 31, 2023 | −65.5% |
| Finite-lived intangibles, net | $16.4M8 Dec 31, 2024 | $23.1M7 Dec 31, 2023 | −29.2% |
Properties, in its own words
The Company’s executive administration offices are located at 131 Clarendon Street, Boston, Massachusetts, which is owned by Brookline Bank, as well as its corporate operations center in Lincoln, Rhode Island, which is owned by BankRI, with other administrative and operations functions performed at several different locations. Clarendon Private conducts its business from a portion of the Company's executive administration offices which it leases.
Brookline Bank conducts its business from 27 banking offices, six of which are owned and 21 of which are leased. Brookline Bank's main banking office is leased and located in Brookline, Massachusetts. Brookline Bank also has three additional lending offices and one remote ATM location, all of which are leased. Eastern Funding conducts its business from leased premises in New York City, New York, in Melville, New York, and in Plainview, New York.
The rest of Item 2
BankRI conducts its business from 22 banking offices, six of which are owned and 16 of which are leased. BankRI's main banking office is leased and located in Providence, Rhode Island. BankRI also has two remote ATM locations, all of which are leased.
PCSB Bank conducts its business from 14 banking offices, four of which are owned and 10 of which are leased. PCSB bank's main banking office is leased and located in Yorktown Heights, New York.
Refer to Note 13, "Commitments and Contingencies," to the consolidated financial statements for information regarding the Company's lease commitments as of December 31, 2024.
Item 2 of the 10-K filed Mar 3, 2025.3
Leadership
Who has led BROOKLINE BANCORP INC, and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
- Chief executive officerMichael P. Goldrick Jan 10, 2023 to now15
- Chief executive officerWilliam C. Tsonos Nov 4, 2022 to Jan 10, 202316
- Chief executive officerDarryl J. Fess Aug 4, 2020 to Sep 15, 202017
- Chief executive officerMark J. Meiklejohn Aug 4, 2020 to Aug 4, 202218
- Chief executive officerJames J. McCarthy Sep 15, 2020 to Sep 15, 202019
- Chief executive officerPaul A. Perrault Mar 18, 2010 to Aug 4, 202020
- Chief executive officerRichard P. Chapman Jr. Mar 23, 2006 to Apr 13, 200921
- ChairPaul A. Perrault Aug 4, 2021 to now22
- ChairRichard P. Chapman Jr. Apr 17, 2009 to Apr 17, 200923
- PresidentCarl M. Carlson Aug 4, 2021 to now24
- PresidentMichael W. McCurdy Aug 4, 2021 to now25
- PresidentDarryl J. Fess Sep 23, 2016 to Aug 6, 201926
- PresidentJames J. McCarthy Oct 26, 2016 to Oct 29, 201927
- PresidentMark J. Meiklejohn Aug 1, 2012 to Aug 6, 201928
- PresidentRussell G. Cole Jun 23, 2011 to Oct 3, 201629
- PresidentPaul A. Perrault Mar 17, 2009 to Aug 4, 202030
- PresidentMichael J. Fanger Apr 24, 2006 to Aug 24, 201131
- Chief financial officerCarl M. Carlson Apr 8, 2014 to now32
- Chief financial officerJulie A. Gerschick Aug 9, 2011 to Jan 8, 201433
- Chief financial officerPaul R. Bechet Jul 26, 2007 to Aug 8, 201134
- Chief operating officerMichael W. McCurdy Aug 4, 2021 to now25
Board members and other officers (35)
- Chief Credit OfficerMark J. Meiklejohn Aug 4, 2023 to now35
- Chief Human Resources OfficerJanytra M. Brooks Oct 8, 2020 to now36
- Chief Human Resources OfficerSandra L. Jenkins Jul 1, 2015 to Oct 1, 202037
- Principal Financial OfficerThomas J. Meshako Jan 3, 2014 to Feb 11, 201438
- Senior Comm. Real Estate LODaniel R. Ouellette Jun 23, 2011 to Jul 6, 201139
- Director of Human ResourcesSarah P. Merritt Jun 23, 2011 to Jul 31, 201540
- Commercial R. E. Group HeadDarryl J. Fess Aug 9, 2011 to Nov 16, 201141
- Chief Executve OfficerRichard P. Chapman Jr. Mar 20, 2009 to Mar 20, 200942
- Director of OperationsJames M. Cosman Oct 20, 2009 to now43
- SVPJane M. Wolchonok Oct 20, 2009 to Jul 6, 201144
- Chief Credit OfficerM. Robert Rose Oct 20, 2009 to Aug 17, 202245
- Executive vice presidentCharles H. Peck Jan 27, 2006 to Oct 8, 201046
- senior vice presidentDavid J. Pallin Nov 14, 2006 to Nov 14, 200647
- Board memberWillard I. Hill Jr. Jan 10, 2023 to now48
- Board memberJoanne B. Chang Oct 1, 2018 to now49
- Board memberJohn M. Pereira Jun 25, 2015 to now50
- Board memberMargaret Boles Fitzgerald Oct 25, 2013 to now51
- Board memberBogdan Nowak Jan 11, 2012 to now52
- Board memberMerrill W. Sherman Jan 11, 2012 to now53
- Board memberPaul A. Perrault Mar 18, 2010 to Aug 4, 202020
- Board memberGeorge C. Caner Jr. Mar 10, 2009 to Feb 16, 201054
- Board memberJoseph J. Slotnik Mar 11, 2009 to Aug 4, 202355
- Board memberWilliam Tripp V. Iii. Mar 12, 2009 to Mar 26, 200956
- Board memberRichard P. Chapman Jr. Mar 16, 2009 to Sep 18, 200957
- Board memberHollis W. Plimpton Jr. Mar 26, 2009 to Mar 25, 201058
- Board memberRosamond B. Vaule Mar 27, 2009 to Oct 31, 201859
- Board memberThomas J. Hollister May 5, 2009 to now60
- Board memberPeter O. Wilde May 9, 2008 to Aug 4, 202361
- Board memberDennis S. Aronowitz Mar 23, 2007 to Mar 23, 200762
- Board memberJohn A. Hackett Apr 26, 2007 to Nov 7, 202363
- Board memberDavid C. Chapin Nov 20, 2007 to Aug 4, 202364
- Board memberJohn J. Doyle Jr. Apr 24, 2006 to Sep 21, 202365
- Board memberCharles H. Peck Nov 17, 2006 to Aug 4, 202366
- General counselMarissa S. Martin Jul 23, 2021 to now67
- General counselMichael W. McCurdy Aug 31, 2011 to Aug 4, 202068
Timeline
- Sep 2, 20258-K Completed an acquisition or sale; Listing notice or transfer; Change to shareholders' rights69
- Aug 29, 20258-K Executive or director change70
- Aug 25, 20258-K Other events71
- Aug 6, 20258-K Other events72
- Jul 23, 20258-K Results of operations; Regulation FD disclosure73
- May 22, 20258-K Shareholder vote74
- May 9, 20258-K Other events75
- Apr 23, 20258-K Results of operations; Regulation FD disclosure76
- Jan 29, 20258-K Results of operations; Regulation FD disclosure77
- Dec 16, 20248-K Entered a material agreement; Executive or director change; Regulation FD disclosure78
- Oct 23, 20248-K Results of operations; Regulation FD disclosure79
- Jul 24, 20248-K Results of operations; Regulation FD disclosure80
- Jan 10, 2023New chief executive Michael P. Goldrick becomes CEO15
- Nov 4, 2022New chief executive William C. Tsonos becomes CEO16
- Sep 15, 2020New chief executive James J. McCarthy becomes CEO19
- Aug 4, 2020New chief executive Mark J. Meiklejohn becomes CEO18
- Aug 4, 2020New chief executive Darryl J. Fess becomes CEO17
- Mar 18, 2010New chief executive Paul A. Perrault becomes CEO20
- Mar 23, 2006New chief executive Richard P. Chapman Jr. becomes CEO21
Calendar
When it reported results
- Jul 23, 2025Reported quarterly or annual results73
- Apr 23, 2025Reported quarterly or annual results76
- Jan 29, 2025Reported quarterly or annual results77
- Oct 23, 2024Reported quarterly or annual results79
- Jul 24, 2024Reported quarterly or annual results80
- Apr 24, 2024Reported quarterly or annual results81
- Jan 24, 2024Reported quarterly or annual results82
- Oct 25, 2023Reported quarterly or annual results83
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
259 filings to the SEC since October 2021: 6 annual reports, 12 quarterly reports, 37 major events, 143 insider forms, 22 large holders, 39 other. The latest 20:
- Oct 9, 2025SCHEDULE 13G/A EDGAR
- Sep 12, 202515-12G EDGAR
- Sep 2, 20254 EDGAR
- Sep 2, 20254 EDGAR
- Sep 2, 20254 EDGAR
- Sep 2, 20254 EDGAR
- Sep 2, 20254 EDGAR
- Sep 2, 20254 EDGAR
- Sep 2, 20254 EDGAR
- Sep 2, 20254 EDGAR
- Sep 2, 20254 EDGAR
- Sep 2, 20254 EDGAR
- Sep 2, 20254 EDGAR
- Sep 2, 20254 EDGAR
- Sep 2, 202525-NSE EDGAR
- Sep 2, 20254 EDGAR
- Sep 2, 20254 EDGAR
- Sep 2, 20254 EDGAR
- Sep 2, 20254 EDGAR
- Sep 2, 2025S-8 POS EDGAR
The 259 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
29 open-market trades by officers, directors and large owners since October 2021: 19 buys and 10 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 2, 2025 | Brooks Janytra MChief Human Resources Officer | Sale | 3,763 | $10.28 | $38.7K | Form 4 |
| May 8, 2024 | Hollister Thomas JDirector | Buy | 2,400 | $8.72 | $20.9K | Form 4 |
| Apr 29, 2024 | Hill Willard I JRDirector | Buy | 2,000 | $8.44 | $16.9K | Form 4 |
| Mar 12, 2024 | Cosman James MChief Operations Officer | Sale | 16,000 | $9.66 | $154.6K | Form 4 |
| Mar 8, 2024 | Cosman James MChief Operations Officer | Sale | 16,000 | $10.00 | $160.0K | Form 4 |
| Nov 7, 2023 | HACKETT JOHN ADirector | Sale | 3,500 | $9.13 | $32.0K | Form 4 |
| Nov 2, 2023 | Hill Willard I JRDirector | Buy | 2,000 | $8.55 | $17.1K | Form 4 |
| Jun 6, 2023 | Goldrick Michael PCEO PCSB Bank | Buy | 5,000 | $8.71 | $43.5K | Form 4 |
| May 19, 2023 | Fess Darryl J.CEO, Brookline Bank | Buy | 5,000 | $8.43 | $42.1K | Form 4 |
| May 5, 2023 | Carlson Carl MCo-President & CFO | Buy | 2,000 | $8.09 | $16.2K | Form 4 |
| May 4, 2023 | Carlson Carl MCo-President & CFO | Buy | 2,000 | $7.65 | $15.3K | Form 4 |
| May 3, 2023 | Carlson Carl MCo-President & CFO | Buy | 2,000 | $8.22 | $16.4K | Form 4 |
| May 3, 2023 | HACKETT JOHN ADirector | Buy | 1,000 | $8.24 | $8.2K | Form 4 |
| Mar 13, 2023 | NOWAK BOGDANDirector | Buy | 25,000 | $10.70 | $267.6K | Form 4 |
| Mar 9, 2023 | NOWAK BOGDANDirector | Buy | 25,000 | $11.59 | $289.8K | Form 4 |
| Mar 8, 2023 | NOWAK BOGDANDirector | Buy | 10,000 | $12.14 | $121.4K | Form 4 |
| Feb 24, 2023 | Goldrick Michael PCEO PCSB Bank | Sale | 17,023 | $13.09 | $222.8K | Form 4 |
| Feb 2, 2023 | Fitzgerald Margaret BolesDirector | Buy | 1,000 | $13.57 | $13.6K | Form 4 |
| Feb 1, 2023 | CHAPIN DAVID CDirector | Sale | 15,000 | $13.08 | $196.2K | Form 4 |
| Jan 31, 2023 | Carlson Carl MCo-President & CFO | Buy | 500 | $12.92 | $6.5K | Form 4 |
All 29 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- DIMENSIONAL FUND ADVISORS LPSCHEDULE 13G/A, 4 filings Feb 8, 2022 to Oct 9, 202584
- State Street CorporationSCHEDULE 13G, 2 filings Feb 5, 2025 to May 13, 202585
- Prudential FinancialSC 13G/A, 2 filings Feb 13, 2024 to Nov 14, 202486
- FULLER & THALER ASSET MANAGEMENT, INC.SC 13G/A, 4 filings Feb 8, 2022 to Nov 12, 202487
- JENNISON ASSOCIATES LLCSC 13G/A, 2 filings Feb 8, 2024 to Nov 12, 202488
- VANGUARD GROUP INCSC 13G/A, 3 filings Feb 9, 2022 to Feb 13, 202489
- BlackRockSC 13G/A, 5 filings Jan 26, 2022 to Jan 22, 202490
SEC filer profile
How BROOKLINE BANCORP INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARBROOKLINE BANCORP INC1
- CIK0001049782
- Employer ID (EIN)04-34029443
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company3
- Incorporated inDelaware3
- Fiscal year endsDecember 311
- Industry code (SIC)6035 Savings Institution, Federally Chartered1
- SEC reviewing officeOffice of Finance, Division of Corporation Finance1
- Business address131 Clarendon Street, Boston, MA 021161
- Phone617-425-46001
- Shares outstanding89,104,605 as of Jul 31, 202510
- Public float$729.0M as of Jun 30, 20243
- AuditorKPMG LLP, Boston, MA PCAOB ID 185; it also attests to the company’s internal control over financial reporting3
- On EDGAR sinceNov 18, 19971
- Filings1,457 in all: 4 (746), 8-K (207), 10-Q (83), SC 13G/A (78), 4/A (45), SC 13G (34), 3 (33), 425 (32)1
All 43 form types
5 (30), DEF 14A (26), 10-K (25), DEFA14A (15), UPLOAD (11), CORRESP (10), 10-K/A (6), 8-K/A (6), EFFECT (6), S-4/A (6), ARS (5), S-8 (5), S-8 POS (5), 424B5 (4), S-1/A (4), S-4 (4), 10-K405 (3), 424B3 (3), S-3 (3), 144 (2), 8-A12G (2), FWP (2), S-1 (2), SC 13D (2), SCHEDULE 13G (2), 15-12G (1), 25-NSE (1), 3/A (1), 305B2 (1), CT ORDER (1), DEFM14A (1), PRE 14A (1), SC 13D/A (1), SCHEDULE 13G/A (1), SE (1)
- Latest filingsAnnual report (10-K) Mar 3, 2025
Quarterly report (10-Q) Aug 7, 2025
Proxy statement (DEF 14A) Mar 29, 2024
Latest 8-K (8-K) Sep 2, 2025
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value of $0.01 per share | BRKL | Nasdaq Global Select Market |
From the cover page of the 10-K filed Mar 3, 2025 (Section 12(b) of the Exchange Act).3
Risk factors and legal proceedings
The risks BROOKLINE BANCORP INC names in Item 1A of its 10-K filed Mar 3, 2025: 54 risks under these headings, as written.3
- RISKS RELATED TO OUR BUSINESS AND INDUSTRY
- Inflationary pressures and increases in market interest rates may affect our results of operations and financial condition.
- Changes to interest rates could adversely affect our results of operations and financial condition.
- We may be adversely affected by volatility in U.S. and global economic conditions and changes in fiscal, monetary, trade
- and regulatory policies.
- Our business may be adversely affected by changes in economic conditions in our market area.
- Increased market volatility and adverse changes in financial or capital market conditions may increase our market risk.
- If we are unable to access the capital markets, have prolonged net deposit outflows, or our borrowing costs increase, our
- liquidity and competitive position will be negatively affected.
- We face significant and increasing competition in the financial services industry.
- Our business may be adversely affected if we fail to adapt our products and services to evolving industry standards and consumer preferences.
- Development of new products services and technologies may impose additional costs on us and may expose us to increased operational risk.
The other 43 risks
- If our allowance for credit losses is not sufficient to cover actual loan and lease losses, our earnings may decrease.
- Our loan and lease portfolios include commercial real estate mortgage loans and commercial loans and leases, including equipment leases, which are generally riskier than other types of loans.
- Environmental liability associated with our lending activities could result in losses.
- Our securities portfolio performance in difficult market conditions could have adverse effects on our results of operations.
- The fair value of our investment securities can fluctuate due to factors outside of our control.
- Potential downgrades of U.S. government securities by one or more of the credit ratings agencies could have a material adverse effect on our operations, earnings and financial condition.
- Loss of deposits or a change in deposit mix could increase our cost of funding.
- Wholesale funding sources may prove insufficient to replace deposits at maturity and support our operations and future growth.
- Potential deterioration in the performance or financial position of the FHLB of Boston and New York might restrict our funding needs and may adversely impact our financial condition and results of operations.
- The soundness of other financial institutions could adversely affect us.
- Damage to our reputation could significantly harm our business, including our competitive position and business prospects.
- We may be unable to attract and retain qualified key employees, which could adversely affect our business prospects, including our competitive position and results of operations.
- Our ability to service our debt and pay dividends is dependent on capital distributions from our subsidiary banks, and these distributions are subject to regulatory limits and other restrictions.
- We face continuing and growing security risks to our information base, including the information we maintain relating to our customers.
- We may not be able to successfully implement future information technology system enhancements, which could adversely affect our business operations and profitability.
- We rely on other companies to provide key components of our business infrastructure.
- We may incur significant losses as a result of ineffective risk management processes and strategies.
- Our internal controls, procedures and policies may fail or be circumvented.
- Natural disasters, acts of terrorism, future pandemics and other external events could harm our business.
- Our financial statements are based in part on assumptions and estimates, which, if wrong, could cause unexpected losses in the future.
- Changes in accounting standards can be difficult to predict and can materially impact how we record and report our financial condition and results of operations.
- Changes in tax laws and regulations and differences in interpretation of tax laws and regulations may adversely impact our financial statements.
- Future capital offerings may adversely affect the market price of our common stock.
- The market price and trading volume of our common stock may be volatile.
- We may be required to write down goodwill and other acquisition-related identifiable intangible assets.
- RISKS RELATED TO OUR REGULATORY ENVIRONMENT
- We operate in a highly regulated industry, and laws and regulations, or changes in them, could limit or restrict our activities and could have a material adverse effect on our operations.
- We are subject to numerous laws designed to protect consumers, including the Community Reinvestment Act and fair lending laws, and failure to comply with these laws could lead to a wide variety of sanctions.
- We may become subject to enforcements actions even though noncompliance was inadvertent or unintentional.
- We face significant legal risks, both from regulatory investigations and proceedings and from private actions brought against us.
- The FRB may require us to commit capital resources to support the Banks.
- We are subject to stringent capital requirements which may adversely impact return on equity, require additional capital raises, or limit the ability to pay dividends or repurchase shares.
- RISKS RELATED TO OUR PROPOSED MERGER WITH BERKSHIRE
- The need for regulatory approvals may delay the date of completion of the Merger or may diminish the benefits of the Merger.
- Litigation against us, or the members of our board of directors, could prevent or delay the completion of the Merger.
- We will be subject to business uncertainties and contractual restrictions while the Merger is pending.
- The announcement of the proposed Merger could disrupt our relationships with our customers, suppliers, business partners and others, as well as their operating results and businesses generally.
- The Merger Agreement limits our ability to pursue alternatives to the Merger and may discourage other companies from trying to acquire us.
- The combined company will incur significant transaction and merger-related costs in connection with the Merger.
- If the Merger is not completed, we will have incurred substantial expenses without our stockholders realizing the expected benefits of the Merger.
- The Company and Berkshire may not be able to successfully integrate the two companies or to realize the anticipated benefits of the Merger.
- The Merger Agreement may be terminated in accordance with its terms, and the Merger may not be completed.
- The future results of the combined company following the Merger may suffer if the combined company does not effectively manage its expanded operations.
- Current holders of the our common stock will have a significantly reduced ownership and voting interest in the combined company after the Merger and will therefore have less voting influence over the combined company.
- Because the market price of Berkshire’s common stock may fluctuate, our stockholders cannot be certain of the precise value of the merger consideration they may receive in our proposed Merger with Berkshire.
Legal proceedings
During the fiscal year ended December 31, 2024, the Company was not involved in any legal proceedings other than routine legal proceedings occurring in the ordinary course of business. Management believes that those routine legal proceedings involve, in the aggregate, amounts that are immaterial to the Company's financial condition and results of operations.
The opening of Item 3, Legal Proceedings.3
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 22SEC EDGARPaul A. Perrault, Chair
- 23SEC EDGARRichard P. Chapman Jr., Chair
- 24SEC EDGARCarl M. Carlson, President
- 25SEC EDGARMichael W. McCurdy, President
- 26SEC EDGARDarryl J. Fess, President
- 27SEC EDGARJames J. McCarthy, President
- 28SEC EDGARMark J. Meiklejohn, President
- 29SEC EDGARRussell G. Cole, President
- 30SEC EDGARPaul A. Perrault, President
- 31SEC EDGARMichael J. Fanger, President
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- 44SEC EDGARJane M. Wolchonok, SVP
- 45SEC EDGARM. Robert Rose, Chief Credit Officer
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- 48SEC EDGARWillard I. Hill Jr., Board member
- 49SEC EDGARJoanne B. Chang, Board member
- 50SEC EDGARJohn M. Pereira, Board member
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- 52SEC EDGARBogdan Nowak, Board member
- 53SEC EDGARMerrill W. Sherman, Board member
- 54SEC EDGARGeorge C. Caner Jr., Board member
- 55SEC EDGARJoseph J. Slotnik, Board member
- 56SEC EDGARWilliam Tripp V. Iii., Board member
- 57SEC EDGARRichard P. Chapman Jr., Board member
- 58SEC EDGARHollis W. Plimpton Jr., Board member
- 59SEC EDGARRosamond B. Vaule, Board member
- 60SEC EDGARThomas J. Hollister, Board member
- 61SEC EDGARPeter O. Wilde, Board member
- 62SEC EDGARDennis S. Aronowitz, Board member
- 63SEC EDGARJohn A. Hackett, Board member
- 64SEC EDGARDavid C. Chapin, Board member
- 65SEC EDGARJohn J. Doyle Jr., Board member
- 66SEC EDGARCharles H. Peck, Board member
- 67SEC EDGARMarissa S. Martin, General counsel
- 68SEC EDGARMichael W. McCurdy, General counsel
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- 70SEC EDGARExecutive or director change
- 71SEC EDGAROther events
- 72SEC EDGAROther events
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- 74SEC EDGARShareholder vote
- 75SEC EDGAROther events
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