Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
3 Months Ended |
Mar. 31, 2020 |
Mar. 31, 2019 |
| Cash flows from operating activities: |
|
|
| Net (loss) income attributable to Brookline Bancorp, Inc. |
$ (17,276)
|
$ 22,467
|
| Adjustments to reconcile net income to net cash provided from operating activities: |
|
|
| Net income attributable to noncontrolling interest in subsidiary |
0
|
43
|
| Provision for credit losses |
54,114
|
1,353
|
| Origination of loans and leases held-for-sale |
0
|
(5,511)
|
| Proceeds from sales of loans and leases held-for-sale, net |
0
|
8,109
|
| Deferred income tax benefit |
(17,270)
|
(390)
|
| Depreciation of premises and equipment |
1,581
|
1,782
|
| Amortization of investment securities premiums and discounts, net |
384
|
445
|
| Amortization of deferred loan and lease origination costs, net |
2,154
|
1,782
|
| Amortization of identified intangible assets |
336
|
402
|
| Amortization of debt issuance costs |
26
|
25
|
| Accretion of acquisition fair value adjustments, net |
(372)
|
(704)
|
| Gain on investment securities, net |
(1,330)
|
(134)
|
| Gain on sales of loans and leases held-for-sale |
(120)
|
(289)
|
| Write-down of OREO and other repossessed assets |
354
|
49
|
| Compensation under recognition and retention plans |
624
|
861
|
| ESOP shares committed to be released |
101
|
88
|
| Net change in: |
|
|
| Cash surrender value of bank-owned life insurance |
(254)
|
(254)
|
| Other assets |
(103,913)
|
(12,219)
|
| Accrued expenses and other liabilities |
173,346
|
(1,926)
|
| Net cash provided from operating activities |
92,485
|
15,979
|
| Cash flows from investing activities: |
|
|
| Proceeds from sales of investment securities available-for-sale |
86,434
|
0
|
| Proceeds from maturities, calls, and principal repayments of investment securities available-for-sale |
25,530
|
19,935
|
| Purchases of investment securities available-for-sale |
(273,252)
|
0
|
| Proceeds from maturities, calls, and principal repayments of investment securities held to maturity |
6,302
|
1,475
|
| Purchases of investment securities held-to-maturity |
0
|
(500)
|
| Proceeds from redemption/sales of restricted equity securities |
2,944
|
7,958
|
| Purchase of restricted equity securities |
(17,598)
|
(399)
|
| Proceeds from sales of loans and leases held-for-investment, net |
5,800
|
3,408
|
| Net increase in loans and leases |
(96,414)
|
(92,280)
|
| Purchase of premises and equipment, net |
(1,071)
|
(961)
|
| Proceeds from sales of OREO and other repossessed assets |
1,972
|
563
|
| Net cash used for investing activities |
(259,353)
|
(60,801)
|
| Cash flows from financing activities: |
|
|
| Increase in demand checking, NOW, savings and money market accounts |
57,871
|
48,526
|
| Increase in certificates of deposit |
2,333
|
118,694
|
| Proceeds from FHLBB advances |
1,736,600
|
1,621,000
|
| Repayment of FHLBB advances |
(1,357,638)
|
(1,675,357)
|
| Increase (decrease) in other borrowed funds, net |
10,054
|
(219)
|
| Increase in mortgagors' escrow accounts, net |
209
|
91
|
| Repurchases of common stock |
(10,410)
|
0
|
| Proceeds from issuance of common stock |
0
|
(1)
|
| Payment of dividends on common stock |
(9,173)
|
(8,376)
|
| Redemption of noncontrolling interest in subsidiary |
0
|
(35,851)
|
| Payment of dividends to owners of noncontrolling interest in subsidiary |
0
|
(930)
|
| Net cash provided from financing activities |
429,846
|
67,577
|
| Net increase in cash and cash equivalents |
262,978
|
22,755
|
| Cash and cash equivalents at beginning of period |
77,790
|
89,584
|
| Cash and cash equivalents at end of period |
340,768
|
112,339
|
| Cash paid during the period for: |
|
|
| Interest on deposits, borrowed funds and subordinated debt |
23,227
|
23,230
|
| Income taxes |
2,070
|
8,774
|
| Non-cash investing activities: |
|
|
| Transfer from loans to other real estate owned |
$ 1,733
|
$ 505
|