Peoples Bancorp Inc. (NASDAQ:PEBO) Q2 2020 Earnings Conference Call - Final Transcript
Jul 21, 2020 • 11:00 am ET
Good morning, and welcome to Peoples Bancorp, Incorporated Conference Call. My name is Mike and I will be your conference facilitator today. Today's call will cover a discussion of the results of operations for the quarterly period and six months ended June 30, 2020. [Operator Instructions]
Please be advised that the commentary in this call will contain projections or other forward-looking statements regarding Peoples' future financial performance or future events. These statements are based on management's current expectations. The statements in this call, which are not historical fact are forward-looking statements and involve a number of risks and uncertainties detailed in Peoples' Securities and Exchange Commission filings.
These include but are not limited to the ever-changing effects of the COVID-19 pandemic on economic and market conditions and on our customers, counterparties, employees and third-party service providers, as well as the effects of various responses of governmental and non-governmental authorities; changes in the interest rate environment due to economic conditions related to the COVID-19 pandemic or other factors, which may adversely impact interest rates, the interest rate yield curve, interest margins, loan demand and interest rate sensitivity; the success, impact, and timing of the implementation of Peoples' business strategies and Peoples' ability to manage strategic initiatives, including the expansion of commercial and consumer lending activity; the competitive nature of the financial services industry; the impact of estimates and inputs used within models, which may vary materially from actual outcomes, including in connection with the current expected credit loss model or CECL model; the discontinuation of LIBOR and other reference rates which may result in increased expenses and litigation, and adversely impact the effectiveness of hedging strategies; uncertainty regarding the nature, timing, cost, and effect of federal and/or state banking insurance and tax legislative or regulatory changes or actions and changes in accounting standards, policies, estimate, or procedures.
Management believes the forward-looking statements made during this call are based on reasonable assumptions within the bounds of their knowledge of Peoples' business and operations. However, it is possible actual results may differ materially from these forward-looking statements. Peoples disclaims any responsibility to update these forward-looking statements after this call, except as may be required by applicable legal requirements. Peoples' second quarter 2020 earnings release was issued this morning and is available at peoplesbancorp.com under Investor Relations. A reconciliation of the non-Generally Accepted Accounting Principles or GAAP financial measures discussed during this call to the most directly comparable GAAP financial measures is included at the end of the earnings release. This call will include about 30 minutes of prepared commentary followed by a question-and-answer period, which I will facilitate. An archived webcast of this call will be available on peoplesbancorp.com in the Investor Relations section for one year. Participants in today's call will be Mr. Chuck Sulerzyski, President and Chief Executive Officer; and Mr. John Rogers, Chief Financial Officer and Treasurer. And each will be available for questions following opening statements.
Mr. Sulerzyski, the floor is yours sir to begin. Thank you.
Charles W. Sulerzyski
At this time