Brookline CEO sees 27% pay jump

BROOKLINE, Mass. – Following a strong 2014, Brookline Bancorp Inc. CEO received a 27 percent increase in total compensation bouncing back from getting his pay cut the year earlier.
Paul A. Perrault, president and CEO of Bank Rhode Island parent company Brookline Bancorp, received $1.78 million in total compensation, representing a 27 percent increase from 2013, according to the company’s proxy statement filed last week.
The jump was largely driven by a non-equity incentive plan that more than doubled from $200,000 to $521,250 in 2014.
Perrault became chairman and CEO of Brookline Bank in March 2009 and saw his pay cut in 2013 after the company fell short of its earning target.
But 2014 proved lucrative for Brookline Bancorp, which posted profit of $44.9 million, representing a 20.8 percent increase from 2013. Its total interest and noninterest income increased 7.5 percent to $236.6 million.
Shareholders also benefited, as the company reported earnings of 61 cents per diluted share compared with 51 cents per diluted share from the year ending Dec. 31, 2013.

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