Premier Financial Corp. (NASDAQ:PFC) Q4 2022 Earnings Conference Call January 25, 2023 11:00 AM ET

Company Participants

Paul Nungester - EVP and CFO

Gary Small - President and CEO

Conference Call Participants

Brendan Nosal - Piper Sandler

Michael Perito - KBW

Christopher Marinac - Janney Montgomery Scott

Operator

Good morning, and welcome to the Premier Financial Corp. Fourth Quarter 2022 Earnings Conference Call. All participants will be in a listen-only mode. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Paul Nungester from Premier Financial Corp. Please go ahead.

Paul Nungester

Thank you. Good morning, everyone, and thank you for joining us for today's fourth quarter 2022 earnings conference call. This call is also being webcast, and the audio replay will be available at the Premier Financial Corp. website at premierfincorp.com. Following our prepared comments on the company's strategy and performance, we will be available to take your questions.

Before we begin, I'd like to remind you that during the conference call today, including during the question-and-answer period, you may hear forward-looking statements related to future financial results and business operations for Premier Financial Corp. Actual results may differ materially from management forecasts and projections as a result of factors over which the company has no control. Information on these risk factors and additional information on forward-looking statements are included in the news release and in the company's reports on file with the Securities and Exchange Commission.

And now I'll turn the call over to Gary for his opening comments.

Gary Small

Thank you, Paul, and good morning to everyone. We really appreciate you joining us today.

Just as a comment, as we begin, I want to acknowledge that Matt Garrity, a gentleman who's been a participant on this call for a number of years, will not be with us this morning. Matt has accepted a role as CEO at a very fine institution over in Western Massachusetts. And I wanted to take a moment to thank him for all these contributed to us over the years. It's very much appreciated, and we wish him well as new endeavor.

Last evening, we reported net income for the quarter of $25.3 million or $0.71 a share with full earnings for the year, topping $102 million, or $2.85 a share. The fourth quarter saw a continuation of the theme for Premier in 2022. Strong loan and deposit growth driving net interest income, tempered by higher growth-related loan loss provisions and a weakened residential lending environment.