KBRA comments on Brookline Bancorp (BRKL), Inc.s proposed acquisition of PCSB Financial Corporation (PCSB). Boston-based Brookline announced on May 24, 2022, a merger agreement with Yorktown Heights, New York-based, PCSB Financial (PCSB) and its subsidiary, PCSB Bank.
Brookline Bancorp, Inc. (BRKL) and PCSB Financial Corporation (PCSB) announced today they have entered into a definitive merger agreement whereby Brookline will acquire PCSB and its wholly owned subsidiary, PCSB Bank for approximately $313 million in cash and stock.
Brookline Bancorp, Inc. operates as a bank holding company for the Brookline Bank that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include demand…
Brookline Bancorp, Inc. operates as a bank holding company for the Brookline Bank that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include demand checking, NOW, money market, and savings accounts. The company's loan portfolio primarily comprises first mortgage loans secured by commercial, multi-family, and residential real estate properties; loans to business entities comprising commercial lines of credit; loans to condominium associations; loans and leases used to finance equipment for small businesses; financing for construction and development projects; and home equity and other consumer loans. It also provides term loans, letters of credit, foreign exchange, cash management, investment advisory, and online and mobile banking services, as well as invests in debt and equity securities. As of December 31, 2021, the company operated 50 full-service banking offices in greater Boston, Massachusetts, and greater Providence, Rhode Island. Brookline Bancorp, Inc. was founded in 1871 and is headquartered in Boston, Massachusetts.
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