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Business Combinations (Tables)
 9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule Of Ownership And Market Capitalization Of Combined Company
The following table summarizes the ownership of the combined Company, as well as the market capitalization of the combined company using shares of the Company and Legacy Brookline outstanding at August 31, 2025 and the Company’s closing price on August 31, 2025:
Number of Company Outstanding SharesPercentage Ownership
Market Value at $26.14 Company Share Price (in thousands)
Company Stockholders46,389,917 55.18 %$1,212,169 
Legacy Brookline Stockholders37,673,213 44.82 %984,401 
Total84,063,130 100.00 %$2,196,570 
Schedule Of Hypothetical Number Of Shares Required For Issuance For Equal Ownership
The following table summarizes the hypothetical number of shares Legacy Brookline would have to issue to give the Company’s owners the same percentage ownership in the combined company (based on shares of Legacy Brookline common stock outstanding at August 31, 2025):
Number of Legacy Brookline Outstanding SharesPercentage Ownership
Company Stockholders110,452,183 55.18 %
Legacy Brookline Stockholders89,698,126 44.82 %
Total200,150,309 100.00 %
Purchase Price Consideration
The purchase price was calculated based on the number of hypothetical shares of Legacy Brookline common stock issued to Company stockholders multiplied by the share price, as summarized in the following table (amounts in thousands):
Number of hypothetical Brookline shares issued to Company Stockholders110,452,183 
Brookline market price per share as of August 31, 2025$10.95 
Purchase price determination of hypothetical Brookline shares issued to Company Stockholders1,209,451 
Value of Company stock options hypothetically converted to options to acquire shares of Brookline common stock1,147 
Fraction share payments49 
Purchase price consideration$1,210,647 
Schedule of Assets Acquired and Liabilities Assumed
The following table provides the purchase price allocation as of the Merger Date and the assets acquired and liabilities assumed at their estimated fair value as of the Merger Date as recorded by the Company. The Company recorded the estimate of fair value based on initial valuations available at the Merger Date and these estimates were considered preliminary as of September 30, 2025, and subject to adjustment for up to one year after the Merger Date. While the Company believes the information available on the Merger Date provided a reasonable basis for estimating fair value, the Company expects it may obtain additional information and evidence during the measurement period that would result in changes to the estimated fair value amounts. The measurement period ends on the earlier of one year after the Merger Date or the date the Company is able to determine all necessary information about the facts and circumstances that existed as of the Merger Date has been obtained. As of September 30, 2025, all of the fair value determinations are preliminary with the exception of those assets and liabilities where carrying value has been determined to reasonably represent fair value.
(In Thousands)
Fair value of consideration transferred:
Value of hypothetical legacy Brookline shares transferred$1,209,451 
Conversion of Company stock options1,147 
Cash paid for fractional shares49 
Total purchase consideration 1,210,647 
Fair value of assets acquired:
Cash and due from banks105,440 
Short-term investments978,667 
Investment securities available-for-sale1,102,464 
Loans held for sale3,471 
Loans held for investment9,078,979 
Premises and equipment73,368 
Bank owned life insurance246,979 
Accrued interest receivable 49,717 
Core deposit intangible asset174,415 
Customer relationships intangible asset14,000 
Other assets314,956 
Total assets acquired12,142,456 
Fair value of liabilities assumed:
Deposits 10,287,573 
Borrowings 559,402 
Accrued expenses and other liabilities197,082 
Total liabilities assumed11,044,057 
Net assets acquired1,098,399 
Goodwill$112,248 
Schedule of Financing Receivable, Purchased With Credit Deterioration
The following table provides a reconciliation between the unpaid principal balance of acquired Purchased-credit deteriorated loans (“PCD”) loans and the purchase price:
(In Thousands)
Unpaid principal balance $595,614 
PCD allowance for credit losses (64,510)
Non-credit (discount) premium on acquired loans(15,761)
Fair value of PCD loans$515,343 
Schedule of Pro Forma Financial Information
The following table presents unaudited pro forma information as if the Merger had occurred on January 1, 2024. The pro forma adjustments give effect to any change in interest income due to the accretion of the discount (premium) associated with the fair value adjustments to acquired loans, any change in interest expense due to estimated premium amortization/discount accretion associated with the fair value adjustment to acquired interest-bearing deposits and long-term debt and the amortization of the core deposit intangible that would have resulted had the deposits been acquired as of January 1, 2024. The pro forma information is not indicative of what would have occurred had the merger occurred as of the beginning of the year prior to the Merger Date. The pro forma amounts below do not reflect the Company's expectations as of the date of the pro forma information of further operating cost savings and other business synergies expected to be achieved, including revenue growth as a result of the merger and the effects of the balance sheet repositioning completed subsequent to the merger. As a result, actual amounts differed from the unaudited pro forma information presented.
Unaudited Pro Forma
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
(In Thousands)
Net interest income204,894 190,362 599,918 565,505 
Non-interest income25,453 43,903 79,507 44,117 
Net income before income taxes61,816 65,266 111,280 (43,115)