Brookline Bancorp Inc.'s fourth-quarter and full-year results rose despite costs associated with acquisitions.
The $3.3 billion-asset company said Wednesday that its quarterly income rose 11% from a year earlier, to $7.1 million. Brookline recorded additional professional service fees, including $499,000 in expenses related to the Jan. 1 purchase of Bancorp Rhode Island Inc.
Fourth-quarter net interest income rose 16% from a year earlier, to $28.6 million. Noninterest income rose 71% from a year earlier, to $1.4 million.
Brookline's 2011 profit rose almost 3% from a year earlier, to $27.6 million. Full-year results were hurt by $1.3 million in expenses related to the acquisitions of First Ipswich Bancorp and Bancorp Rhode Island. Paul A. Perrault, president and chief executive of Brookline, said in a press release that the Brookline’s further expansion into central New England would strengthen its position in the marketplace.