BOSTON, Sept. 21, 2017 (GLOBE NEWSWIRE) -- Brookline Bancorp, Inc. (NASDAQ:BRKL)("Brookline") and First Commons Bank, N.A. ("First Commons Bank") announced today the execution of an agreement and plan of merger (the "Agreement"), pursuant to which First Commons Bank will merge with and into Brookline Bank. Under the terms of the agreement, Brookline will pay $16.70 per share, or $52.5 million in Brookline stock, for the outstanding shares and warrants of First Commons Bank, and $3.4 million in cash for the outstanding options, representing a total transaction value of $55.958 million. First Commons Bank stockholders will receive 1.171 shares of Brookline common stock for each First Commons Bank share they own, subject to adjustment based on Brookline's ten-day, volume-weighted average stock price between $13.19 and $15.33. Brookline has the option to pay up to 50% of the consideration for the outstanding shares in cash.