Restructuring

In the first quarter of 2011, the Company announced and received regulatory approval to merge its four private banking affiliates into one consolidated bank under the Boston Private Bank charter. On May 27, 2011, the Company completed the consolidation of its four private banks, operating in the New England, San Francisco Bay, Southern California and Pacific Northwest markets, under one unified charter based in Massachusetts. Restructuring charges related to the merger generally consist of severance charges, costs to terminate contracts, legal and consulting costs, and other costs. The Company estimates that such charges will result in approximately $8.5 million in restructuring expense. The following table summarizes the restructuring activity for the three and nine months ended September 30, 2011.



	Severance Charges			Contract Termination Fees			Professional Expenses			Other Associated Costs			Total
	(In thousands)
Accrued charges at December 31, 2010	$	—		$	—		$	—		$	—		$	—
Costs incurred	1,161			—			815			6			1,982
Costs paid	—			—			(143		)	(6		)	(149		)
Accrued charges at March 31, 2011	1,161			—			672			—			1,833
Costs incurred	2,500			571			783			450			4,304
Costs paid	(394		)	—			(688		)	(450		)	(1,532		)
Accrued charges at June 30, 2011	3,267			571			767			—			4,605
Costs incurred	142			300			459			215			1,116
Costs paid	(298		)	(660		)	(679		)	(215		)	(1,852		)
Accrued charges at September 30, 2011	$	3,111		$	211		$	547		$	—		$	3,869