Brookline Bancorp, Inc. (NASDAQ:BRKL) Q4 2023 Earnings Conference Call January 25, 2024 1:30 PM ET

Company Participants

Laura Vaughn - Attorney

Paul Perrault - Chairman & Chief Executive Officer

Carl Carlson - Co-President & Chief Financial Officer

Conference Call Participants

Mark Fitzgibbon - Piper Sandler

Nick Cucharale - Hovde Group

Steve Moss - Raymond James

Laurie Hunsicker - Seaport Research

Chris O'Connell - KBW

Operator

Good afternoon, and welcome to Brookline Bancorp Incorporated Fourth Quarter 2023 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. Please go ahead.

Laura Vaughn

Thank you, Emily, 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 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, Laura, and good afternoon, all. Thank you for joining us for today's earnings call. 2023 was a challenging year for the banking industry. We had a very productive one for Brookline Bancorp.

We started the year with the successful acquisition, management transition and integration of PCSB Bank. Mid-February, the systems conversions were completed without incident and the synergies identified were realized.

Then in March and April, as several banks failed, we were able to assist impacted customers in our markets as they navigated the significant near-term uncertainty it created. In a volatile interest rate environment, we have added bankers to our teams, while continuing to expand and enhance our technology infrastructure as well as our product and service offerings across our three banks with a sharp focus on boutique commercial banking.