BROOKLINE, Mass. — Brookline Bancorp plans to retreat from the Internet-only banking business.

Citing losses associated with its Internet-only Lighthouse Bank, the $1 billion-asset company said in its first-quarter earnings report that it expects to sell it to a third party or merge it into Brookline’s traditional operations in the second or third quarter.

Brookline invested $25 million in Lighthouse and expects it to continue to have operating losses until it is sold or merged.

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