BROOKLINE BANCORP INC: M&A transaction — Brookline Bancorp completes $298M acquisition of PCSB Financial; adds NY presence

BROOKLINE BANCORP INC

Acquisition of PCSB Financial (NASDAQ: PCSB) closed Jan 1, 2023; total consideration ~$297.8M.
Each PCSB share elects $22.00 cash or 1.3284 BRKL shares, with 60% stock conversion floor.
Willard I. Hill, Jr. appointed to Brookline board; Michael P. Goldrick becomes PCSB Bank President & CEO.
PCSB Bank operates as separate subsidiary with 15 branches in Lower Hudson Valley, NY.

item 2.01 item 5.02 item 9.01

Executive movements

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Appointed

Willard I. Hill, Jr.

Director

BROOKLINE BANCORP INC

Effective: 2023-01-01
Filed: January 5, 2023, 6:59 PM ET

Willard I. Hill, Jr. was appointed to the Board of Directors of the Company

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Willard I. Hill, Jr. was appointed as Director at BROOKLINE BANCORP INC.

Action: appointed
Role: Director

Exact text from the filing

Willard I. Hill, Jr. was appointed to the Board of Directors of the Company

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

BROOKLINE BANCORP INC completed an acquisition involving PCSB Financial Corporation for approximately $297,790,219 million (closed 2023-01-01).

Action: acquisition
Counterparty: PCSB Financial Corporation
Consideration: approximately $297,790,219 million
Closing: 2023-01-01

Exact text from the filing

to ensure that 60% of the outstanding shares of PCSB common stock will be converted to Company common stock . The total consideration payable by the Company is approximately $297,790,219 million, consisting of (i) approximately $130,523,861 million in cash and (ii) 11,820,944 shares of Company common stock valued at approximately $167,266,357 million based on the

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Source: SEC EDGAR

accession 0001104659-23-001440

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