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B BROOKLINE BANCORP Brookline Bancorp Announces Third Quarter Results Net Income of $ 28.8 million , EPS of $ 0.37 Quarterly Dividend Increase of 4.2 % BOSTON , MA -- October 27 , 2021 -- Brookline Bancorp , Inc. ( NASDAQ : BRKL ) ( the “ Company ” ) today announced net income of $ 28.8 million , or $ 0.37 per basic and diluted share , for the third quarter of 2021 , compared to net income of $ 31.6 million , or $ 0.40 per basic and diluted share , for the second quarter of 2021 , and net income of $ 18.7 million , or $ 0.24 per basic and diluted share , for the third quarter of 2020 . Paul Perrault , Chairman and Chief Executive Officer of the Company commented on the third quarter earnings , “ I am pleased to report solid earnings for the third quarter of $ 28.8 million or $ 0.37 per share as the economy in our markets continues to improve . " Perrault continued , “ Our employees have remained focused on providing exceptional customer service to our customers and communities throughout 2021 which has positioned us well as we look forward to the end of the year . " BALANCE SHEET Total assets at September 30 , 2021 decreased $ 149.3 million to $ 8.3 billion from $ 8.5 billion at June 30 , 2021 , and decreased $ 687.5 million from $ 9.0 billion at September 30 , 2020. At September 30 , 2021 , total loans and leases were $ 6.9 billion , representing a decrease of $ 88.6 million from June 30 , 2021 , and a decrease of $ 464.7 million from September 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 September 30 , 2021 , $ 160.6 million in PPP loans remain outstanding , net of deferred fees and costs of $ 5.4 million . Excluding PPP loan activity , the core loan portfolio grew $ 99.2 million in the third quarter compared to growth of $ 9.1 million in the second quarter . Total investment securities at September 30 , 2021 increased $ 37.9 million to $ 732.0 million from $ 694.2 million at June 30 , 2021 , and decreased $ 52.4 million from $ 784.4 million at September 30 , 2020. Total cash and cash equivalents at September 30 , 2021 decreased $ 81.3 million to $ 239.1 million from $ 320.4 million at June 30 , 2021 , and decreased $ 78.2 million from $ 317.3 million at September 30 , 2020. As of September 30 , 2021 , total investment securities and total cash and cash equivalents represented 11.7 percent of total assets as compared to 12.0 percent and 12.2 percent as of June 30 , 2021 and September 30 , 2020 , respectively . Total deposits at September 30 , 2021 decreased $ 21.7 million to $ 6.87 billion from $ 6.89 billion at June 30 , 2021 , and increased $ 80.5 million from $ 6.8 billion at September 30 , 2020 . Total borrowed funds at September 30 , 2021 decreased $ 95.5 million to $ 267.5 million from $ 363.0 million at June 30 , 2021 , and decreased $ 737.5 million from $ 1.0 billion at September 30 , 2020 . The ratio of stockholders ' equity to total assets was 11.77 percent at September 30 , 2021 , as compared to 11.49 percent at June 30 , 2021 , and 10.39 percent at September 30 , 2020. The ratio of tangible stockholders ' equity to tangible assets ( non - GAAP ) was 10.01 percent at September 30 , 2021 , as compared to 9.75 percent at June 30 , 2021 , and 8.73 percent at September 30 , 2020. Tangible book value per share ( non - GAAP ) increased $ 0.16 from $ 10.35 at June 30 , 2021 to $ 10.51 at September 30 , 2021 , compared to $ 9.77 at September 30 , 2020 .