CBTX, Inc. (NASDAQ:CBTX) Q2 2020 Earnings Conference Call - Final Transcript
Jul 30, 2020 • 09:00 am ET
Good morning, ladies and gentlemen, and welcome to the CBTX Q2 2020 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded.
I would now like to turn the conference over to your speaker today, Justin Long, General Counsel. You may begin.
Justin M. Long
Thank you. Good morning. I'm Justin Long, General Counsel of CBTX, and our management team would like to welcome you to the earnings call for the second quarter of 2020. We appreciate you joining us.
We issued our earnings press release yesterday afternoon, a copy of which is available on our website. We also filed our quarterly report on Form 10-Q for the second quarter yesterday afternoon and released a slide presentation this morning that we will refer to during this presentation.
Before we begin, I'd like to remind you that during this presentation, we may make forward-looking statements regarding future events, our financial performance or our business prospects.
Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. Additional information concerning factors that could cause actual results to differ is available in our earnings release and in the Risk Factors section of our annual report on Form 10-Q -- our quarterly report on Form 10-Q -- excuse me, our annual report on Form 10-K and our quarterly report on Form 10-Q for the second quarter, and our other filings with the SEC, which can all be accessed on our Investor Relations website at ir.cbtxinc.com.
Any forward-looking statements are made only as of the date of this call, and we assume no obligation to update any such statements.
You should also be aware that during this call, we will reference certain non-GAAP financial information. A reconciliation of these financial measures to the most directly comparable GAAP financial measures is included in our earnings release and investor presentation.
I'm joined this morning by Robert R. Franklin, Jr., our Chairman, President and CEO; Ted Pigott, our Chief Financial Officer; Joe West, our Chief Credit Officer; and Joseph McMullen, our Controller. At the end of their remarks, we will open the call to questions.
With that, I turn it over to our Chairman, President and CEO Bob Franklin.
Robert R. Franklin
Thank you, Justin, and welcome to the earnings call for CBTX for the second quarter 2020.
Second quarter remained a challenging and an uncertain environment. We continue to deal with the impact of the pandemic on the communities and customers that we serve and continued instability in the oil and gas industry along with an extraordinarily low interest rate environment.
I'm very happy of the work -- I'm very proud of the work that our team did this quarter. We were able to fund 2,010 PPP loans totaling about approximately $336 million during the quarter, while we continue to work with our customers to structure deferral arrangements to assist them in these uncertain times.
Our team has been actively reaching out to our customers to understand their positions, stresses and to maintain contact with