Brookline Bank is making available a new suite of Foreign Exchange Services designed to help businesses of all sizes complete and securely manage their overseas transactions. With international transactions becoming more prevalent even among small businesses, the Bank now offers customizable online solutions and expertise from a team of Foreign Exchange Advisors to help businesses address the fast-paced realities of the global currency marketplace.
Brookline Bancorp announced net income of $6.8M, or 9c per basic and diluted share, for the fourth quarter of 2017, which included an estimated one time, non-cash charge of $9.0M related to the enactment of the Tax Reform Act. Excluding the impact of the Tax Reform Act, net income would have been $15.8M, with an EPS of 21c per basic and diluted share. The company recorded a provision for credit losses of $1.8M for the quarter ended December 31, 2017, compared to $2.9M for the quarter ended September 30, 2017. The decrease in the provision for the quarter was driven by a reduction in the specific reserve related to a favorable workout during the fourth quarter of 2017. Net charge-offs for the fourth quarter of 2017 were $8.5M compared to $2.0M in the third quarter of 2017.