Independent Bank Corp Michigan (NASDAQ:IBCP) Q4 2019 Earnings Conference Call - Final Transcript

Jan 23, 2020 • 11:00 am ET


Independent Bank Corp Michigan (NASDAQ:IBCP) Q4 2019 Earnings Conference Call - Final Transcript


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Good day and welcome to the Independent Bank Corporation Fourth Quarter 2019 Earnings Conference Call and Webcast. All participants will be in listen-only mode. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Mr. Brad Kessel, President and CEO. Please go ahead.

William B. Kessel

Good morning. Thank you for joining Independent Bank Corporation's conference call and webcast to discuss the Company's 2019 fourth quarter and full year results. I am Brad Kessel, President and Chief Executive Officer and joining me is Rob Shuster, Executive Vice President and Retiring Chief Financial Officer. Also joining is Steve Erickson, Executive Vice President and Incoming Chief Financial Officer.Before we begin today's call, it is my responsibility to direct you to the important information on Page 2, the cautionary note regarding forward-looking statements. If anyone does not already have a copy of the press release issued by Independent today, you can access it at the Company's website The agenda for today's call will include prepared remarks, followed by a question-and-answer session and then closing remarks.

Before we begin reviewing our financial results, as previously announced, Steve Erickson is the incoming Chief Financial Officer for IBC following Rob's retirement at January 31st, 2020. As this is Rob's last earnings call, I want to take a moment and thank Rob for his service to IBC over the last 25 years. His contributions to the organization have been instrumental to our success and I want to wish Rob well as he embarks on his well-deserved retirement.

Rob, do you have any comments that you'd like to make before we begin today's session?

Robert N. Shuster

Yes. First I would like to thank the Board of Directors, the executive management team and all of my fellow associates at Independent Bank Corporation for their support. Being the CFO of IBCP has truly been a labor of love for me. In particular, I want to thank Jim Twarozynski, our controller and the entire accounting team, Dean Morse, our Head of Finance and his team and Amy Anderson, our Head of Secondary Marketing and her team. Their hard work and professionalism over all these years is very much appreciated.

There are countless external business associates who have made my job better and who have been of great assistance over the years and I wish that I could recognize them all. However, two in particular, Mike Wooldridge and Kim Baber from our outside law firm Varnum have been with me nearly every step of the way during my journey at IBCP.

Finally, since this is an earnings conference call, I thank our analysts, our investment bankers and our shareholders for their support. I would like to recognize some institutional investors who I have known in some cases for nearly 30 years and who have taught me so much. First, Rich Lashley and John Palmer from PL Capital who I have known since their days at KPMG. Next, Joe Hall and Terry Maltese from Maltese Capital Management who I