Current Report Filing (8-k)

Date : 08/01/2019 @ 10:02AM
Source : Edgar (US Regulatory)
Stock : Brookline Bancorp Inc (BRKL)
Quote : 15.835  -0.115 (-0.72%) @ 9:30PM
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Current Report Filing (8-k)

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

____________

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):

 

July 31, 2019

 

BROOKLINE BANCORP, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   0-23695   04-3402944
(State or other jurisdiction   (Commission File No.)   (I.R.S. employer
of incorporation)   Identification No.)    

 

 

131 Clarendon Street, Boston Massachusetts   02116  
(Address of principal executive offices)   (Zip Code)  

 

( 617) 425-4600

 

(Registrant's telephone number, including area code)

 

 

Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

[ ]       Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

[ ]       Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

[ ]       Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

[ ]       Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading Symbols(s) Name of each exchange on which registered
Common BRKL NASDAQ

 

Indicate by check mark if the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company     [ ]

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     [ ]

 

 

 

 

 

Item 8.01 Other Events.

 

On July 31, 2019, Brookline Bank (the “Bank”), a wholly-owned subsidiary of Brookline Bancorp, Inc., converted its charter from a Massachusetts-chartered savings bank to a Massachusetts-chartered trust company and ended its membership in the Depositors Insurance Fund (the “DIF”), which insures deposit balances held by Massachusetts-chartered savings banks in excess of the federal deposit insurance coverage amounts. The Bank’s growth in deposit size required the Bank to withdraw from the DIF and the concurrent charter conversion of the Bank. The Bank will continue to be supervised by the Massachusetts Division of Banks and the Board of Governors of the Federal Reserve System (the “Federal Reserve”). In addition, the Bank’s deposits will continue to be insured by the Federal Deposit Insurance Corporation (“FDIC”) to applicable limits. Excess deposits that are insured by the DIF on July 31, 2019 will continue to be insured by the DIF until July 31, 2020. Term deposits in excess of the FDIC insurance coverage will continue to be insured by the DIF until they reach maturity. None of the Bank’s products or services will be discontinued or changed as a result of the Bank’s charter conversion.

 

FORWARD LOOKING STATEMENTS

 

This Current Report on Form 8-K contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. There are several factors that could cause actual results to differ significantly from expectations described in these forward-looking statements. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond the Company’s control. Accordingly, the Company cautions you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict.  Although the Company believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. For a discussion of such factors please refer to the Company’s most recently filed reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission and available on the SEC’s website at www.sec.gov. The Company does not undertake to update any forward-looking statements.

 

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

       
Date:  July 31, 2019

Brookline Bancorp, Inc.
 

 

  By:  

/S/ Michael W. McCurdy

   

Michael W. McCurdy

Chief Risk Officer, General Counsel and Corporate Secretary

     
         

 

 

 

 

 

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