Brookline Bancorp, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported total interest and dividend income of $71,639,000, net interest income of $59,491,000, income before provision for income taxes of $25,080,000, net income attributable to company of $18,633,000 or $0.24 per basic and diluted share, return on average assets (annualized) of 1.08%, return on average stockholders' equity (annualized)of 8.98% compared to total interest and dividend income of $62,351,000, net interest income of $53,098,000, income before provision for income taxes of $21,848,000, net income attributable to company of $13,445,000 or $0.19 per basic and diluted share, return on average assets (annualized) of 0.83%, return on average stockholders' equity (annualized) of 7.58% for the same quarter a year ago. Return on average tangible assets (annualized) (non-GAAP) was 1.10% compared to 0.85% a year ago. Return on average tangible stockholders' equity (annualized) (non-GAAP) was 11.01% compared to 9.55% a year ago. Book value per common share as on March 31, 2018 was $10.80 compared to the $10.00 as at March 31, 2017. Tangible book value per share non-GAAP as on March 31, 2018 was $8.69 compared to $7.93 as at March 31, 2017. Excluding the impact of securities gains and merger charges, net income would have been $20 million or $0.26 per share.

For the first quarter of 2018, the company reported net charge-offs of $505,000 compared to $995,000 a year ago.

For the remainder of 2018, the company expects effective tax rate of 24%.