$PBCT (People's United Financial Inc.)

$PBCT {{ '2015-07-16T21:56:38+0000' | timeago}} • Webcast

$PBCT 2Q15 Call – David, CFO: Commercial deposits grew $310MM and retail deposits in line with historical second quarter patterns decline slightly as expected. Broker deposits ended the quarter at $2.6Bil, down $13MM from the end of the 1Q15. The deposit growth in the 2Q15 was organically driven.

$PBCT {{ '2017-04-20T12:54:44+0000' | timeago}} • Webcast

On the mortgage warehouse business, $PBCT commented that the split of purchase and refinancing was close to 50-50. The company added that what it's seeing generally in its banks and in the business is that there is more talk about purchase activity and the refinancing applications have dropped considerably.

$PBCT {{ '2017-04-20T12:48:26+0000' | timeago}} • Webcast

$PBCT stated that on the fee guide, the company is still comfortable with the guidance provided. From both a loan origination and a fee income perspective, 1Q17 was slow. So the company expects to see a ramp in most of the line items as the year progresses.

$PBCT {{ '2017-04-20T12:45:05+0000' | timeago}} • Webcast

$PBCT said the overall yield at the securities portfolio was about 3 BP. Additionally, the company added that the utilization on the mortgage warehouse lines have dropped to the mid 40% range, which is a low point. $PBCT expects it to be somewhere in the range that it is now.

$PBCT {{ '2017-04-20T12:12:23+0000' | timeago}} • Announcement

$PBCT's BoD voted to increase the common stock dividend to an annual rate of $0.69 per share.  Based on the closing stock price on April 19, 2017, the dividend yield on its common stock is 3.9%. The quarterly dividend of $0.1725 per share is payable on May 15, 2017 to shareholders of record on May 1, 2017.

$PBCT {{ '2017-04-20T12:11:05+0000' | timeago}} • Announcement

$PBCT reported a rise in 1Q17 earnings driven by higher net interest income and a rise in non-interest income. Net income rose to $70.8MM or $0.22 per share from $62.9MM or $0.21 per share last year. Net interest income grew to $248.6MM from $240.1MM and non-interest income increased to $84.7MM from $82.3MM.

$PBCT {{ '2017-01-19T23:33:43+0000' | timeago}} • Webcast

$PBCT said that the increase in the share count in 4Q16 was mostly driven by the option exercises. The  run up in the stocks supported a number of individuals the opportunity to exercise and that run up in stock price putting more shares on a fully diluted basis, thereby increasing the share count.

$PBCT {{ '2017-01-19T23:01:49+0000' | timeago}} • Webcast

$PBCT said that payroll taxes, 401-K matches and winter-related operational costs will be historically higher in 1Q. These expenses are expected to be higher in 1Q17 compared to $4Q16. The company remains well positioned for an increase in interest rates as the loan mix continues to trend towards floating rate loan.

$PBCT {{ '2017-01-19T22:42:20+0000' | timeago}} • Webcast

For 2017, $PBCT expects targets loans growth to be 5-7% and deposits to grow in the range of 4-6%. Both net interest income and non-interest income are expected to grow 5-7%. Non-interest expenses, excluding merger-related costs, are anticipated to be in the range of $895-915MM compared to $864MM in 2016.

$PBCT {{ '2017-01-19T22:32:06+0000' | timeago}} • Webcast

$PBCT's recent acquisitions of Gerstein Fisher, Eagle Insurance Group and Kesten-Brown have bolstered its wealth management and insurance businesses. The company closed the acquisition of Gerstein Fisher in Nov. 2016 and acquired Suffolk Bancorp earlier in the year. Suffolk is expected to deepen the company's presence in the New York metro area.

$PBCT {{ '2017-01-19T21:34:37+0000' | timeago}} • Announcement

The Board of Directors of $PBCT declared a quarterly dividend of $0.17 per share. The dividend is payable on Feb. 15, 2017 to shareholders of record on Feb. 1, 2017.

$PBCT {{ '2017-01-19T21:32:15+0000' | timeago}} • Announcement

$PBCT reported that commercial loans totaled $21.4Bil at Dec. 31, 2016, an increase of $214MM from Sept. 30, 2016. Residential mortgage loans totaled $6.2Bil at Dec. 31, 2016, an increase of $189MM  from Sept. 30, 2016. Commercial deposits totaled $10.4Bil and retail deposits totaled $19.5Bil at Dec. 31, 2016.

$PBCT {{ '2017-01-19T21:21:46+0000' | timeago}} • Announcement

$PBCT reported a rise in 4Q16 profit, helped by higher net interest income and lower expenses. Net income rose 7% to $75.9MM or $0.24 per share compared to $70.8MM or $0.23 per share in the prior year quarter. Net interest income rose 3.3% to $246.8MM, while non-interest income dropped 9.8% to $84.2MM.

$PBCT {{ '2016-10-20T22:56:29+0000' | timeago}} • Webcast

$PBCT reported that the delay in completing the Suffolk Bancorp acquisition is not related to putting the balance sheet closure to $50Bil. It's because of the normal delays, the company said.

$PBCT {{ '2016-10-20T22:45:12+0000' | timeago}} • Webcast

$PBCT stated that the tax rate in 4Q16 will be 32.4%, same as 3Q16. The company added that it has not prepared any earnings guidance for next year at this point.

$PBCT {{ '2016-10-20T22:14:54+0000' | timeago}} • Webcast

Financial services company $PBCT closed four branches and opened 26 branches in 3Q16. With regard to the pending acquisitions, the company said that closing and integrating Suffolk Bancorp and Gerstein Fisher transactions are progressing. $PBCT expects to close Gerstein Fisher deal in early November and Suffolk deal, pending regulatory approvals.

$PBCT {{ '2016-10-20T20:52:24+0000' | timeago}} • Announcement

$PBCT said its commercial deposits totaled $10.3Bil at Sept. 30, 2016, compared to $9.5Bil at June 30, 2016, and commercial loans increased $107MM, or 2% annualized, to $21.2Bil from June 30, 2016. Retail deposits (excluding brokered deposits) totaled $16.8Bil at Sept. 30, 2016, compared to $16.9Bil at June 30, 2016.

$PBCT {{ '2016-10-20T20:48:50+0000' | timeago}} • Announcement

$PBCT's net interest margin for 3Q16 rose by 1 basis point to 2.80% from the previous quarter. This rise reflects an additional calendar day in 3Q16, improved loan yields and mix, lower yield on the securities portfolio and an increase in average borrowing balances and rate.

$PBCT {{ '2016-10-20T20:45:51+0000' | timeago}} • Announcement

$PBCT, the holding company for People's United Bank, reported a 7.7% rise in 3Q16 earnings on higher net interest income and rise in non-interest income. Net income rose to $73.7MM or $0.24 per share from $68.4MM or $0.23 per share last year. Net interest income grew 4.5% to $245.3MM and non-interest income rose 4.25% to $90.8MM.

$PBCT {{ '2016-07-21T23:29:55+0000' | timeago}} • Webcast

For full year 2016, $PBCT has lowered its loan growth range from 6-8% to 4-6%. The company has lowered the net interest income growth range from 7-9% to 5-7%. Net interest margin is expected to be 2.75-2.85%. Total expenses are expected to be $860-870MM, excluding merger-related costs.

$PBCT {{ '2016-07-21T23:17:10+0000' | timeago}} • Webcast

$PBCT said in 2Q16, originated loans in the commercial portfolio increased $413MM from 1Q16, driven primarily by $372MM of C&I growth. Equipment financing and commercial real estate contributed growth of $30MM and $11MM respectively. The end-of-period balance for mortgage warehouse reached $1.2Bil.

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