Brookline Bancorp Inc. (NASDAQ:BRKL) Q1 2022 Earnings Conference Call April 28, 2022 1:30 PM ET

Company Participants

Marissa Martin - General Counsel

Paul Perrault - Chairman & Chief Executive Officer

Carl Carlson - Co-President & Chief Financial Officer

Conference Call Participants

Mark Fitzgibbon - Piper Sandler

Laurie Hunsicker - Compass Point

Chris O'Connell - KBW

Operator

Hello, and welcome to the Brookline Bancorp, Inc. Q1 2022 Earnings Call. My name is Katie and I'll be coordinating your call today. [Operator Instructions]

I'll now hand over to your host, Marissa Martin to begin. Marissa, please, go ahead.

Marissa Martin

Thank you, Katie, and good afternoon, everyone. Yesterday, we issued our earnings release and presentation, which are available on the Investor Relations page of our website, brooklinebancorp.com and have 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 conditions, results of operations and business of Brookline Bancorp. Please refer to Page 2 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'm pleased to introduce Brookline Bancorp's Chairman and CEO, Paul Perrault.

Paul Perrault

Thanks, Marissa, and good afternoon, everyone. Thank you for joining us on today's call. I'm pleased to report we had another quarter of solid earnings of $24.7 million or $0.32 per share and as well, we did an increase in our quarterly dividend of 4% to bring it to $0.13 per share. On an annualized basis, our core loan portfolio grew 6.9% and deposits grew by 5.5%, excluding a $50 million paydown in broker deposits. Our core margin, excluding PPP continued to improve and increased 7 basis points from Q4. Our bankers continue to be very active in our select markets and I am very optimistic for the balance of the year.

I will now turn you over to Carl, who will review the company's first quarter. Carl?