Banner Corp (NASDAQ:BANR) Q2 2020 Earnings Conference Call - Final Transcript
Jul 23, 2020 • 11:00 am ET
Good morning, and welcome to the Banner Corporation's Second Quarter 2020 Conference Call and Webcast. [Operator Instructions]
I would now like to turn the conference over to Mark Grescovich, President and CEO. Please go ahead.
Mark J. Grescovich
Thank you, Kate, and good morning, everyone. I would also like to welcome you to the Second Quarter 2020 Earnings Call for Banner Corporation. As is customary, joining me on the call today is Rick Barton, our Chief Credit Officer; joe Rice, our Chief Commercial Credit Officer; Peter Conner, our Chief Financial Officer; and Rich Arnold, our Head of Investor Relations. Rich, would you please read our forward-looking safe harbor statement?
Sure, Mark. Good morning. Our presentation today discusses banner's business outlook and will include forward-looking statements. Those statements include descriptions of management's plans, objectives or goals for future operations, products or services, forecast of financial or other performance measures and statements about Banner's general outlook for economic and other conditions.
We also may make other forward-looking statements in the question-and-answer period following management's discussion. These forward-looking statements are subject to a number of risks and uncertainties, and actual results may differ materially from those discussed today. Information on the risk factors that could cause actual results to differ are available in the earnings press release that was released yesterday and our recently filed Form 10-Q for the quarter ended March 31, 2020.
Forward-looking statements are effective only as of the date they are made and Banner assumes no obligation to update information concerning its expectations. Mark?
Mark J. Grescovich
Thank you, Rich. It has certainly been an interesting first half of 2020, and I hope you and your families are well as we all battle the COVID virus and its effects on our communities and the economy. Today, we will cover four primary items with you. First, I will provide you a high-level comment on the quarter. Second, the actions Banner continues to take to support all our stakeholders, including our Banner team, our clients, our communities and our shareholders.
Third, Rick Barton will provide comments on the current status of our loan portfolio and accommodations we have made to assist our clients. Finally, Peter Conner will provide more detail on our operating performance for the quarter and the continued build of our loan loss reserve associated with the estimated economic impact of the COVID virus on our clients and capital actions taken in the quarter, consistent with our long-standing strategic priority of having a moderate risk profile.
I want to begin by thanking all of my 2,100 colleagues in our company that are working extremely hard to assist our clients and communities during these difficult times. Banner has lived our core values, summed up as doing the right thing for 130 years. It is critically important that we continue to do the right thing for our clients, our communities, our colleagues, our company and our shareholders to provide a consistent and reliable source of commerce and capital through all economic cycles and change events. I am pleased