On May 24, 2022, PCSB Financial Corporation, Yorktown Heights, New York, announced the signing of a merger agreement with Brookline Bancorp, Inc., Boston, Massachusetts, pursuant to which PCSB Financial Corporation will merge with and into Brookline Bancorp in a stock and cash transaction valued at approximately $313.0 million. Following the transaction, PCSB Bank will operate as a separate bank subsidiary of Brookline Bancorp.
PCSB Financial Corporation is the holding company for PCSB Bank and has approximately $2.0 billion in total assets.
Brookline Bancorp, Inc. is the holding company for Brookline Bank and Bank Rhode Island and has approximately $8.6 billion in total assets.
Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past five years and more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.