Premier Financial Corp. (NASDAQ:PFC) Q3 2022 Earnings Conference Call October 26, 2022 11:00 AM ET
Company Participants
Paul Nungester - Executive Vice President and Chief Financial Officer
Gary Small - President and Chief Executive Officer
Matthew Garrity - Executive Vice President, Chief Lending Officer
Conference Call Participants
Michael Perito - KBW
Brendan Nosal - Piper Sandler
Christopher Marinac - Janney Montgomery Scott
Operator
Good morning, and welcome to the Premier Financial Corporation Third Quarter 2022 Earnings Conference Call. At this time 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 with Premier Financial Corporation. Please go ahead, sir.
Paul Nungester
Thank you. Good morning, everyone, and thank you for joining us for today's third 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 current 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 I'll turn the call over to Gary for his opening comments.
Gary Small
Thank you, Paul, and good morning. I appreciate you are joining us today. I am very pleased to report Premier’s third quarter earnings of $28.2 million or $0.79 per share, that’s a good outcome from our perspective over a difficult operating environment. Pre-tax provision income was up 13% over the prior quarter and total revenue growth for the quarter was 8.9%, which enabled us to post a very strong positive operating leverage figure and that's a key metric for our organization.
The team posted another quarter of strong loan and deposit growth as has been the case over the course of the year. We saw again good growth in all three categories: commercial, consumer and residential. We are extremely pleased with our quarterly commercial growth of 4%, as it follows an extremely strong second quarter, very encouraged and it really reflects the organization's ability to expand its client base, as Matt will share with us, our mix of C&I business continues to climb.