Brookline Bancorp, Inc. (NASDAQ:BRKL) Q4 2022 Earnings Conference Call January 26, 2023 1:30 PM ET

Company Participants

Paul Perrault - Chairman and Chief Executive Officer

Carl Carlson - Co-President and Chief Financial Officer

Conference Call Participants

Mark Fitzgibbon - Piper Sandler

Steve Moss - Raymond James

Laurie Hunsicker - Compass Point

Chris O'Connell - KBW

Operator

Good afternoon and welcome to Brookline Bancorp, Inc.'s Fourth Quarter 2022 Earnings Conference Call. All participants will be in listen-only mode. After today's presentation, there will be an opportunity to ask questions. Please note, this event is being recorded.

I would now like to turn the conference over to Brookline Bancorp's attorney, Laura [Vaughn] (ph). Please go ahead.

Unidentified Company Representative

Thank you, Alexis, and good afternoon, everyone. Yesterday, we issued our earnings release and presentation, which is available on the Investor Relations page of our website, brooklinebancorp.com and has been filed with the SEC.

This afternoon's call will be hosted by Paul A. Perrault and Carl M. Carlson. This call may contain forward-looking statements with respect to the financial condition, results of operations and business of Brookline Bancorp. Please refer to page two of our earnings presentation for our forward-looking statement disclaimer.

Also, please refer to our other filings with the Securities and Exchange Commission, which contain risk factors that could cause actual results to differ materially from these forward-looking statements.

Any references made during this presentation to non-GAAP measures are only made to assist you in understanding Brookline Bancorp's results and performance trends and should not be relied on as financial measures of actual results or future predictions. For a comparison and reconciliation to GAAP earnings, please see our earnings release.

I am pleased to introduce Brookline Bancorp's Chairman and CEO, Paul Perrault.

Paul Perrault

Good afternoon, everyone, and thank you for joining us on today's call. I am pleased to report we had a very productive quarter, which capped off a solid year of performance. As previously announced, we received regulatory approval in December on the acquisition of PCSB Financial and we were able to close on that deal on January 1st. Earnings for the quarter were $29.7 million or $0.39 per share as our loan portfolio grew $223 million, while also recognizing loan participation income of $2.6 million.

Before I turn it over to Carl to review the company's financials, I want to make a few comments about the PCSB Financial acquisition. We are very pleased that Willard Hill agreed to join our Board of Directors of Brookline Bancorp and he actually had his first Board meeting here yesterday in Boston.