Eastern Bankshares, Inc. (NASDAQ:EBC) Q2 2022 Earnings Conference Call July 29, 2022 9:00 AM ET

Company Participants

Bob Rivers - Chair and CEO

Jim Fitzgerald - Chief Administrative Officer and Chief Financial Officer

Conference Call Participants

Janet Lee - JPMorgan

Mark Fitzgibbon - Piper Sandler

Laurie Hunsicker - Compass Point Research

Damon DelMonte - KBW

Operator

Hello, and welcome to the Eastern Bankshares, Inc. Second Quarter 2022 Earnings Call.

Today's call will include forward-looking statements, including statements about Eastern's future financial and operating results, outlook, business strategies and plans, as well as other opportunities and potential risks that management foresees. Such forward-looking statements reflect management's current estimates or beliefs and are subject to known and unknown risks, uncertainties that may cause actual results or the timing of events to differ materially from those expressed or implied in such forward-looking statements. Listeners are referred to the disclosures set forth -- under the caption forward-looking statements in the earnings press release, as well as the risk factors and other disclosures contained in the company's recent filings with the Securities and Exchange Commission for more information about such risks and uncertainties.

Any forward-looking statements made during this call represent management's views and estimates only as of today. While the company may elect to update forward-looking statements at some point in the future, the company specifically [change] and in relation to do so even if management's views or estimates change, and you should not rely on such statements as representing management's views due to any [Technical Difficulty] subsequent to [today]. During the call, the company will also discuss certain non-GAAP financial measures. For a reconciliation of such non-GAAP financial measures to the comparable GAAP figures, please refer to the company's earnings press release, which can be found at investor.easternbank.com. Please note, this event is being recorded [Operator Instructions].

I'd now like to turn the call over to Bob Rivers, Chair and CEO. Please go ahead, sir.

Bob Rivers

Great. Well, thank you, Sergio, and good morning, everyone. And thank you for joining our second quarter earnings call of 2022. Joining me today is Jim Fitzgerald, our Chief Administrative Officer and Chief Financial Officer. Our results during the second quarter continued to be strong, reflecting the benefits of investments we've made over the past year to strengthen our franchise within one of the most attractive markets in the United States. Despite the uncertainty brought about by COVID and the shift to remote work, the impacts of higher inflation in the spectre of recession, Greater Boston is considered by many among the best-performing office markets in the country, bolstered by high diversity industry sectors, relatively low reliance on large tenants and the tailwinds of strong demand for life sciences space.