Brookline Bancorp, Inc. (NASDAQ:BRKL) Q2 2020 Earnings Conference Call - Final Transcript

Jul 23, 2020 • 01:30 pm ET


Brookline Bancorp, Inc. (NASDAQ:BRKL) Q2 2020 Earnings Conference Call - Final Transcript


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Carl M. Carlson

phase 1.

Turning to our national equipment finance segments, Laundry and Tow, over half of our clients requested phase 1 deferrals with most indicating a return to payment status. 10% to 12% are currently expected to participate in phase 2. The pandemic sensitive areas of retail, fitness equipment, hotel and food will continue to need some level of assistance. Of the $878 million in these portfolios, we expect $202 million to participate in phase 2 at this time. The most impacted areas being hotel and our national fitness equipment business. I want to highlight again. These are well run businesses and we're all in good standing before the impact of the pandemic hit the economy.

As shown on slide 11, the Company continues to be very well capitalized exceeding all regulatory requirements as well as our own internal policies and operating targets. At June 30th we had a capital buffer of 2.6% or $184 million over regulatory well capitalized standards. Slide 12 provides a history of our regular dividend payout, which continued this quarter as the Board approved a quarterly dividend of $0.115 per share, which will paid on August 21 to stockholders of record on August 7. If our dividend remains constant for the remainder of the year, full year per share dividends would be $0.46, a 4.5% increase over 2019 and currently approximates a 4.8% yield.

This concludes my formal comments, and I'll turn it back to Paul.

Paul A. Perrault

Thank you, Carl. And now, joining us for the question-and-answer session is Robert Rose, our Chief Credit Officer. We will now -- Mike, open it up for questions.