Premier Financial Corp. (NASDAQ:PFC) Q2 2022 Earnings Conference Call July 27, 2022 11:00 AM ET
Company Participants
Paul Nungester – Executive Vice President and Chief Financial Officer
Gary Small – President and Chief Executive Officer
Matt Garrity – Executive Vice President and Chief Lending Officer
Conference Call Participants
Michael Perito – KBW
Scott Siefers – Piper Sandler
Christopher Marinac – Janney Montgomery Scott
Operator
Good morning, and welcome to the Premier Financial Corp. Second Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded.
I would now like to turn the conference over to Paul Nungester with Premier Financial Corp. Please go ahead.
Paul Nungester
Thank you. Good morning, everyone, and thank you for joining us for today’s second 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 now I’ll turn the call over to Gary for his comments.
Gary Small
Thank you, Paul, and good morning to all. Thank you for joining us today. We’ve got a lot to cover, and I’ll get right to the highlights. It was just an outstanding loan growth quarter in Q2. We had growth across a broad base with each business line, commercial, consumer and residential experiencing growth of at least 8.5% in real terms for the quarter on a point-to-point basis in all the markets in which we operate contributed to that growth. So it was broad and it was deep. We built a really great revenue generation team, and we’re in a very good position to capture the new business, and we certainly saw our share of it in the quarter.
C&I, CRE and multi-family business each experienced good activity on the commercial front. So again, very balanced. Paul will outline the strong moves made in the net interest income and margin front for the quarter, but I want to highlight that we have excellent momentum heading into Q3. And you’ll expect to see meaningful average loan balance movement from Q3 to Q2 – over Q2 with the kind of accelerated growth we have, the average is really matter here.