Brookline Bancorp has reported net income of $1.75 million for the third quarter, compared to $4.24 million for the same period in 2007, a 58.73 percent decrease.

The bank said the decline in net income was in part due to: a loss of $1.60 million on write-down and sales of perpetual preferred stock issued by Fannie Mae and a $1.66 million increase in the provision for credit losses.

Year-to-date, net income for the year was reported as $8.1 million, compared to $14.04 million last year, a 42.3 percent decrease.