* Q2 EPS $0.08 vs $0.06 last year
* Net interest income $21.8 mln vs $18.0 mln yr ago
* Provision for credit losses $1.9 mln vs $2.6 mln yr ago
July 16 (Reuters) - Brookline Bancorp Inc posted a 27 percent jump in second-quarter profit, as net interest income rose and it reduced provision for credit losses.
The parent company of Brookline Bank said it earned $4.7 million, or 8 cents a share, compared with $3.7 million, or 6 cents a share, a year earlier.
Analysts on average expected earnings of 6 cents a share, excluding items, according to Reuters Estimates.
Net interest income for the quarter rose to $21.8 million from $18.0 million last year.
Provision for credit losses fell to $1.9 million from $2.6 million in the year-ago quarter, due to a significant decline in indirect automobile loan net charge-offs, the company said.
The company recorded a higher Federal Deposit Insurance Corp insurance assessment charge of $1.6 million, up from $37,000, a year ago.
Shares of the company closed at $10.59 Thursday on Nasdaq.
(Reporting by Brenton Cordeiro in Bangalore; Editing by Ratul Ray Chaudhuri) Keywords: BROOKLINE/ (brenton.cordeiro@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: brenton.cordeiro.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Net interest income $21.8 mln vs $18.0 mln yr ago
* Provision for credit losses $1.9 mln vs $2.6 mln yr ago
July 16 (Reuters) - Brookline Bancorp Inc posted a 27 percent jump in second-quarter profit, as net interest income rose and it reduced provision for credit losses.
The parent company of Brookline Bank said it earned $4.7 million, or 8 cents a share, compared with $3.7 million, or 6 cents a share, a year earlier.
Analysts on average expected earnings of 6 cents a share, excluding items, according to Reuters Estimates.
Net interest income for the quarter rose to $21.8 million from $18.0 million last year.
Provision for credit losses fell to $1.9 million from $2.6 million in the year-ago quarter, due to a significant decline in indirect automobile loan net charge-offs, the company said.
The company recorded a higher Federal Deposit Insurance Corp insurance assessment charge of $1.6 million, up from $37,000, a year ago.
Shares of the company closed at $10.59 Thursday on Nasdaq.
(Reporting by Brenton Cordeiro in Bangalore; Editing by Ratul Ray Chaudhuri) Keywords: BROOKLINE/ (brenton.cordeiro@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: brenton.cordeiro.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.