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BrooklineBancorp , Inc. Brookline Bancorp Announces Record Second Quarter Results Net Income of $ 31.6 million , EPS of $ 0.40 BOSTON , MA -- -- July 28 , 2021 Brookline Bancorp , Inc. ( NASDAQ : BRKL ) ( the “ Company ” ) today announced record net income of $ 31.6 million , or $ 0.40 per basic and diluted share , for the second quarter of 2021 , compared to net income of $ 26.5 million , or $ 0.34 per basic and diluted share , for the first quarter of 2021 , and net income of $ 19.6 million , or $ 0.25 per basic and diluted share , for the second quarter of 2020 . " We are pleased to report earnings of $ 31.6 million for the second quarter of 2021 representing $ 0.40 per share , " Paul Perrault , Chairman and Chief Executive Officer of the Company continued , “ Brookline Bancorp and its employees continue to execute on our strategy of high performance for both our customers and our stockholders . We look forward to continued success in the second half of 2021. " BALANCE SHEET Total assets at June 30 , 2021 decreased $ 97.8 million to $ 8.5 billion from $ 8.6 billion at March 31 , 2021 , and decreased $ 607.7 million from $ 9.1 billion at June 30 , 2020. At June 30 , 2021 , total loans and leases were $ 7.0 billion , representing a decrease of $ 247.3 million from March 31 , 2021 , and a decrease of $ 387.4 million from June 30 , 2020 . The Company funded a total of 4,700 of SBA Paycheck Protection Program ( " PPP " ) loans in the aggregate amount of $ 872.1 million . As of June 30 , 2021 , $ 348.4 million in PPP loans remain outstanding , net of deferred fees and costs of $ 10.3 million . Excluding PPP loan activity , the core loan portfolio grew $ 9.1 million in the quarter compared to a decline of $ 117.6 million in the first quarter . Total investment securities at June 30 , 2021 decreased $ 36.3 million to $ 694.2 million from $ 730.4 million at March 31 , 2021 , and decreased $ 162.3 million from $ 856.5 million at June 30 , 2020. Total cash and cash equivalents at June 30 , 2021 increased $ 189.5 million to $ 320.4 million from $ 130.9 million at March 31 , 2021 , and increased $ 65.5 million from $ 254.9 million at June 30 , 2020. As of June 30 , 2021 , total investment securities and total cash and cash equivalents represented 12.0 percent of total assets as compared to 10.1 percent and 12.3 percent as of March 31 , 2021 and June 30 , 2020 , respectively . Total deposits at June 30 , 2021 increased $ 27.9 million to $ 6.89 billion from $ 6.87 billion at March 31 , 2021 and increased $ 454.5 million from $ 6.4 billion at June 30 , 2020 . Total borrowed funds at June 30 , 2021 decreased $ 183.0 million to $ 363.0 million from $ 546.0 million at March 31 , 2021 and decreased $ 1.0 billion from $ 1.4 billion at June 30 , 2020 . The ratio of stockholders ' equity to total assets was 11.49 percent at June 30 , 2021 , as compared to 11.04 percent at March 31 , 2021 , and 10.21 percent at June 30 , 2020. The ratio of tangible stockholders ' equity to tangible assets ( non - GAAP ) was 9.75 percent at June 30 , 2021 , as compared to 9.31 percent at March 31 , 2021 , and 8.56 percent at June 30 , 2020. Tangible book value per share ( non - GAAP ) increased $ 0.34 from $ 10.01 at March 31 , 2021 to $ 10.35 at June 30 , 2021 , compared to $ 9.67 at June 30 , 2020 . NET INTEREST INCOME Net interest income increased $ 2.0 million to $ 71.1 million for the second quarter of 2021 from $ 69.1 million at the quarter ended March 31 , 2021. The net interest margin increased 13 basis points to 3.52 percent for the three months ended June 30 , 2021 from 3.39 percent for the three months ended March 31 , 2021 . NON - INTEREST INCOME Total non - interest income for the quarter ended June 30 , 2021 increased $ 1.1 million to $ 5.9 million from $ 4.8 million for the quarter ended March 31 , 2021. The increase was primarily driven by an increase of $ 0.7 million in deposit fees and an increase of $ 1.0 million in other non - interest income , partially offset by a decrease of $ 0.4 million in loan level derivative income , net and a decrease of $ 0.2 million in gain on sales of loans and leases .