Financial Services >> CEO Interviews >> February 26, 2001
PAUL R. BECHET joined Brookline Savings Bank as Senior Vice President
and Chief Financial Officer in June 1997. Brookline Bancorp, Inc. was
organized in November 1997 for the purpose of acquiring all of the
capital stock of the bank upon completion of the bank's reorganization
from a mutual savings bank into a mutual holding company structure. As
part of the reorganization, the company offered for sale 47% of the
shares of its common stock in an offering fully subscribed for by
eligible depositors of the bank. The remaining 53% of the company's
shares were issued to Brookline Bancorp, MHC, a state-chartered mutual
holding company incorporated in Massachusetts. Net proceeds from the
offering were $134.8 million. On April 12, 2000, the company received
regulatory approval for Lighthouse Bank, a wholly owned subsidiary, to
commence operations as New England's first-chartered Internet-only bank.
Lighthouse commenced doing business with the public near the end of June
2000. At December 31, 2000, the company and its two banking subsidiaries
had total assets of $1.036 billion and total stockholders' equity of
$282.6 million. Prior to joining the company, Mr. Bechet was with the
accounting firm of KPMG Peat Marwick LLP. He joined that firm in 1963
and was admitted as a partner in 1972. He served six years in Albany,
New York, seven years in Paris, France and 21 years in Boston,
Massachusetts. A Certified Public Accountant, Mr. Bechet served as an
audit partner for many financial institutions and conducted numerous
engagements involving mergers and acquisitions, valuation studies,
filings with public and regulatory agencies, and consultation on
strategic business issues. Profile
background?
Mr. Bechet: Brookline Bancorp, Inc., was organized in 1997 for the
purpose of acquiring all of the capital stock of
