(RTTNews) - Brookline Bancorp, Inc. (BRKL) and PCSB Financial Corporation (PCSB) have entered into a definitive merger agreement whereby Brookline will acquire PCSB and its wholly owned subsidiary, PCSB Bank for approximately $313 million in cash and stock. The deal is presently valued at approximately $20.72 per PCSB share.
Brookline Bancorp projects double-digit EPS accretion of approximately 13% to its earnings per share, excluding the impact of expected revenue enhancement opportunities. The combined company will have total assets of $10.6 billion, loans of $8.5 billion, and deposits of $8.7 billion.
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