BOSTON (AP) — BOSTON (AP) — Brookline Bancorp Inc. (BRKL) on Wednesday reported first-quarter net income of $19.1 million.
The Boston-based company said it had net income of 21 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to 22 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The bank holding company posted revenue of $159.4 million in the period. Its adjusted revenue was $91.5 million.
Brookline shares have decreased 14% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $10.20, a rise of roughly 7% in the last 12 months.
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