Professional Holding Corp. (PFHD) Q2 2022 Earnings Conference Call July 29, 2022 11:00 AM ET
Company Participants
Michael Sontag - General Counsel
Abel Iglesias - President and Chief Executive Officer
Mary Usategui - Chief Financial Officer
Ryan Gorney - Chief Information Officer
Herbert Martens - Chairman
Conference Call Participants
Brady Gailey - KBW
Stephen Scouten - Piper Sandler
Joe Yanchunis - Raymond James
Operator
Good morning, everyone and welcome to the Professional Holding Corporation Conference Call to discuss Financial Results for the 3 months ended June 30, 2022. [Operator Instructions] Please note this event is being recorded. At this time, I would like to turn the conference over to the company’s General Counsel, Michael Sontag. Please go ahead.
Michael Sontag
Good morning and thank you for joining Professional Holding Corp.’s second quarter 2022 earnings call. Representing the company on today’s call are President and Chief Executive Officer, Abel Iglesias; Chief Financial Officer, Mary Usategui; Chief Information Officer, Ryan Gorney; and our Chairman, Herbert Martens.
Yesterday, after market close, we announced our financial results for the second quarter of 2022. A copy of our press release can be found on our website at proholdco.com. The release contains a notice regarding forward-looking statements as today’s discussion may include such statements as defined by the SEC in connection with future events, future operating results or financial performance. You can find more information about the risks, uncertainties and other factors in our reports filed with the SEC.
In today’s discussion, we will also include references to certain non-GAAP financial measures. These non-GAAP measures are presented for supplemental informational purposes only and should not be considered as a substitute for financial information presented in accordance with GAAP. Please refer to the reconciliation of these measures to the most directly comparable GAAP measures in our press release.
At this time, I will turn the call over to our President and CEO, Abel Iglesias.
Abel Iglesias
Thank you, Mike and thank you all for being here today and investing your time to participate in Professional Holdings’ quarterly investor call. I am happy and proud to report that we had our best quarter on record for both quarterly net income and loan originations.
Traditional banking continues to be at the center of Professional Bank’s offerings with C&I and CRE representing 72% of our loan portfolio and residential loans representing 21% as of June 30. Loan originations were over $300 million for the quarter and net income was approximately $7 million or $0.52 per share. Additionally, Professional Holding Corp. was added back into the Russell 2000 Index, an accomplishment our company is extremely proud of.