Exhibit 99.1

Brookline Bancorp Announces Second Quarter Net Income of $9.5 Million, EPS of $0.14

Steady Profitability - Asset Quality Improves

BOSTON--(BUSINESS WIRE)--July 24, 2013--Brookline Bancorp, Inc. (NASDAQ: BRKL) (the “Company”) today announced net income of $9.5 million, or $0.14 per basic and diluted share, for the second quarter of 2013, compared to $8.8 million, or $0.13 per basic and diluted share, for the first quarter of 2013, and $7.5 million, or $0.11 per basic and diluted share, for the second quarter of 2012. This increase in earnings per share represents an 8 percent increase from the first quarter 2013 and a 26 percent increase from the second quarter of 2012.

Paul Perrault, President and Chief Executive Officer of Brookline Bancorp, Inc., stated: “We are pleased to report increased earnings for the quarter and the successful completion of our three-phase systems conversions as of May 2013. Our already stellar asset quality continues to improve and our bankers continue to compete effectively in our markets, despite continued competitive pressures.”

BALANCE SHEET

Total assets increased $40.1 million during the second quarter, to $5.2 billion at June 30, 2013, and increased $178.1 million from $5.0 billion at June 30, 2012. Total loans and leases increased $31.0 million during the quarter to $4.2 billion, representing 3 percent growth on an annualized basis. At June 30, 2013, the commercial loan and lease and commercial real estate portfolios totaled $3.0 billion, or 70.2 percent of total loans and leases. Strong loan growth continued in our commercial real estate portfolios of $55.6 million in the quarter or 11 percent on an annualized basis. This growth offset the decrease in the indirect automobile portfolio of $31.2 million from March 31, 2013 to June 30, 2013.

Deposits of $3.7 billion at June 30, 2013 were up $30.9 million from March 31, 2013 and up $135.8 million from June 30, 2012. This represents an annualized increase of 4 percent from June 30, 2012. Core deposits, which consist of demand checking, NOW, savings, and money market accounts, increased at a 7 percent annualized rate in the second quarter of 2013, raising the core deposit ratio from 72.6 percent at March 31, 2013 to 73.4 percent at June 30, 2013. Total borrowings increased $9.6 million from $820.4 million at March 31, 2013 to $830.0 million at June 30, 2013.

Cash, cash equivalents, and investment securities were flat quarter-to-quarter and down $22.6 million year-to-year to $579.5 million, or 11.3 percent of total assets, at June 30, 2013 as compared to $579.2 million, or 11.3 percent of total assets, at March 31, 2013 and $602.1 million, or 12.1 percent of total assets, at June 30, 2012.

The ratio of stockholders’ equity to total assets was 11.87 percent at June 30, 2013. The ratio of tangible stockholders’ equity to tangible assets was 9.10 percent at June 30, 2013.

NET INTEREST INCOME

Net interest income for the second quarter of 2013 increased $1.7 million to $45.4 million from $43.7 million in the first quarter of 2013, and increased $2.6 million from $42.8 million for the quarter ending June 30, 2012.

For the second quarter of 2013, net interest income includes $1.4 million of prepayment penalties on commercial loans, up $0.5 million from first quarter 2013, and $2.4 million of accretion and amortization on acquired loans, deposits, and borrowed funds, up $0.2 million from first quarter 2013. Collectively, these increases contributed 31 basis points to the second quarter 2013 net interest margin which increased from 3.70 percent for the first quarter 2013 to 3.78 percent.

NON-INTEREST INCOME

Non-interest income for the second quarter of 2013 decreased $0.2 million to $3.1 million from $3.3 million in the first quarter of 2013, and decreased $1.6 million from $4.7 million for the second quarter of 2012. The quarter-to-quarter decrease was largely a result of an increased loss from investments in affordable housing projects in the second quarter of 2013.

Non-interest income for the six months of 2013 decreased $1.8 million to $6.5 million from $8.3 million in 2012. Several factors contributed to the year-to-year decrease, including an increased loss from investments in affordable housing projects, a reduction in deposit-related service charges due to systems conversion, and a smaller gain on sales of mortgage loans due to the higher interest-rate environment in the second quarter of 2013. The year-to-year decrease was also a result of a net gain on sales of securities in the second quarter of 2012.

NON-INTEREST EXPENSE AND TAX PROVISION

Non-interest expense for the second quarter of 2013 remained flat as compared to the first quarter of 2013 at $30.8 million, and increased $2.2 million from $28.6 million for the second quarter of 2012. Quarter-to-quarter changes in the components of non-interest expense included the following:

• Compensation and employee benefit expense increased $0.4 million, or 2 percent, compared to the first quarter of 2013. This quarter-to-quarter increase is largely a result of temporary and permanent additions to staff and one additional pay day in the second quarter.
• Other expense decreased quarter-to-quarter in part as a result of a reduction in other-real-estate-owned expense of $0.2 million, as well as decreases in insurance and postage expense.

Non-interest expense for the first six months of 2013 increased approximately $0.5 million to $61.6 million from $61.1 million in 2012. Year-to-year changes in the components of non-interest expense included the following:

• Compensation and employee benefit expense increased $4.1 million, or 14 percent, compared to the first six months of 2012. This year-to-year increase is largely a result of additions to staff to support system conversions and to further the Company's infrastructure build.
• Equipment and data processing expense increased largely as a result of upgrades in data processing, purchases of equipment, and conversion-related expenses in conjunction with Bank Rhode Island’s core system conversion.
• Professional services expense decreased $6.0 million year-over-year largely as a result of reduced costs for integration activities, systems conversions, bank charter conversions and a change in the Company’s outsourced internal auditors.
• Other expenses for the six months ended June 30, 2013 increased $1.3 million year-to-year due in part to increased expenses for repossessed assets, telecommunication, printing, and marketing.

The effective tax rate decreased slightly from 36.1 percent for the second quarter of 2012 to 35.7 percent for the first quarter of 2013 and to 35.3 percent for the second quarter of 2013.

The return on average assets increased from 0.61 percent at June 30, 2012 and 0.70 percent at March 31, 2013 to 0.74 percent at June 30, 2013. The return on average stockholders’ equity increased from 5.04 percent at June 30, 2012 and 5.72 percent at March 31, 2013 to 6.16 percent at June 30, 2013.

ASSET QUALITY

Nonperforming loans and leases decreased $4.2 million from $21.7 million, or 0.42 percent of total assets, at March 31, 2013 to $17.5 million, or 0.34 percent of total assets, at June 30, 2013. The ratio of nonperforming loans and leases to total loans and leases decreased from 0.52 percent at March 31, 2013 to 0.42 percent at June 30, 2013. Nonperforming assets also decreased approximately $4.0 million from $22.9 million, or 0.45 percent of total assets, at March 31, 2013 to $19.0 million, or 0.37 percent of total assets, at June 30, 2013.

The provision for loan and lease losses increased from $1.8 million for the first quarter of 2013 to $2.4 million for the second quarter of 2013. The increase is due to the growth in the commercial real estate portfolios and an additional allowance recorded for subsequent deterioration in the acquired loan portfolios.

The allowance for loan and lease losses was $44.3 million at June 30, 2013, compared to $42.5 million at March 31, 2013, and $37.4 million at June 30, 2012. The increase is due to additions to the allowance for continued loan growth in the commercial real estate portfolios and an additional allowance recorded for subsequent deterioration in the acquired loan portfolios. The allowance for loan and lease losses as a share of total loans and leases was 1.05 percent at June 30, 2013, compared to 1.02 percent at March 31, 2013, and 0.93 percent at June 30, 2012. The allowance for loan and lease losses related to originated loans and leases as a percent of originated loans and leases remained flat at 1.34 percent at March 31, 2013 and June 30, 2013.

DIVIDEND DECLARED

The Company’s Board of Directors approved, for the 45^th consecutive quarter, a dividend of $0.085 per share. The dividend will be paid on August 24, 2013, to shareholders of record on August 10, 2013.

CONFERENCE CALL

The Company will conduct a conference call/webcast at 1:30 PM eastern time on Thursday, July 25, 2013 to discuss the results for the quarter, business highlights and outlook. The call can be accessed by dialing 888-317-6016 (United States) or 412-317-6016 (internationally). A recorded playback of the call will be available for one week following the call at 877-344-7529 (United States) or 412-317-0088 (internationally). The passcode for playback is 10031060. The call will be available live or in a recorded version on the Company’s website under “Investor Relations” at www.brooklinebancorp.com.

ABOUT BROOKLINE BANCORP, INC.

Brookline Bancorp, Inc., a bank holding company with approximately $5.2 billion in assets and 47 branches throughout Massachusetts and Rhode Island, is headquartered in Boston, Massachusetts and operates as the holding company for Brookline Bank, Bank Rhode Island, and First Ipswich Bank. The Company provides commercial and retail banking services and cash management and investment services to customers throughout Central New England. More information about Brookline Bancorp, Inc. and its banks can be found at the following websites: www.brooklinebank.com, www.bankri.com, and www.firstipswich.com.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release that are not historical facts may constitute 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, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties. The Company’s actual results could differ materially from those projected in the forward-looking statements as a result of, among others, the risks outlined in the Company’s Annual Report on Form 10-K, as updated by its Quarterly Reports on Form 10-Q and other filings submitted to the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made.

BASIS OF PRESENTATION

The Company's consolidated financial statements have been prepared in conformity with generally accepted accounting principles (“GAAP”) as set forth by the FASB in its Accounting Standards Codification and through the rules and interpretive releases of the SEC under the authority of federal securities laws. Certain amounts previously reported have been reclassified to conform to the current period's presentation.

NON-GAAP FINANCIAL MEASURES

The Company uses certain non-GAAP financial measures, such as net earnings from operations, the allowance for loan and lease losses related to originated loans and leases as a percentage of originated loans and leases, tangible book value per common share and tangible stockholders’ equity to tangible assets. These non-GAAP financial measures provide information for investors to effectively analyze financial trends of ongoing business activities, and to enhance comparability with peers across the financial services sector. A detailed reconciliation table of the Company's GAAP to the non-GAAP measures is attached.

(1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis.

(2) Average balances include unrealized gains (losses) on securities available-for-sale. Dividend payments may not be consistent and average yield on equity securities may vary from month to month.

(3) Loans on nonaccrual status are included in the average balances.

(4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.

(5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets.

(1) Tax-exempt income on debt securities, equity securities and revenue bonds included in commercial real estate loans is included on a tax-equivalent basis.

(2) Average balances include unrealized gains (losses) on securities available-for-sale. Dividend payments may not be consistent and average yield on equity securities may vary from month to month.

(3) Loans on nonaccrual status are included in the average balances.

(4) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.

(5) Net interest margin represents net interest income (tax-equivalent basis) divided by average interest-earning assets.

CONTACT:
Brookline Bancorp, Inc.
Julie A. Gerschick, 617-425-5331
Chief Financial Officer and Treasurer
jgerschick@brkl.com