Brookline Bancorp, Inc. Second Step Conversion Offering Period Concludes.Business Editors/Banking and Financial Writers BROOKLINE Brookline (br  k`līn), town (1990 pop. 54,718), Norfolk co., E Mass., a suburb adjacent to Boston; settled 1630s, set off from Boston and inc. 1705. , Mass.--(BUSINESS WIRE)--June 24, 2002 Brookline Bancorp, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BRKL), the proposed Delaware Delaware, state, United States Delaware (dĕl`əwâr, –wər), one of the Middle Atlantic states of the United States, the country's second smallest state (after Rhode Island). holding company for Brookline Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. , announced that the final day of its second step conversion offering was June 20, 2002. Stock orders received in the subscription and community offering totaled in excess of $337,237,500, the super-maximum of the stock offering range. The mutual-to-stock conversion remains subject to the approval of the Plan of Conversion by the depositors of Brookline Savings Bank and the existing public stockholders of Brookline Bancorp, Inc. The special meetings of depositors and stockholders to vote on the Plan of Conversion will be held on June 27, 2002. In addition, the closing of the conversion and related stock offering is subject to the receipt of final Office of Thrift Supervision The Office of Thrift Supervision (OTS) was established as a bureau of the Treasury Department in August 1989 as part of a major Reorganization Plan of the thrift regulatory structure mandated by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) (12 U.S.C.A. approval. It is anticipated that the closing will occur by mid-July. Richard P. Chapman, Jr., President of Brookline Bancorp, Inc., stated that "the stock offering and conversion will add significantly to the Bank's financial strength and resources, enabling it to enhance depositor services and products and expand lending programs. This is a plus for all of our Bank customers and potential customers." This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. about the anticipated closing date of the stock offering. Projections about future events are subject to risks and uncertainties that could cause actual results to differ materially. Factors that might cause such differences include, but are not limited to, delays in completing the transactions and changes in the securities markets. |
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