FISI - Earnings call transcript Q2 2021 | Financial Institutions, Inc.

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Operator

Good day, and welcome to the Financial Institutions, Inc.

Second Quarter Earnings Conference Call. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, today's event is being recorded. I'd now like to turn the conference over to Shelly J. and Investor of Director External Communications. Doran, ahead, go ma'am. Please

Shelly J. Doran

of Justin today's Thank and CEO, refer to comments Actual prepared Analysis, joining Mike materially Banking Marty Planning from join of differ for Today's to you comments us Q&A a of call. release SEC Officer, Community will prepared Chief for variety and Grover, Jack may Providing and and and and We website CFO, Director will our filings Financial results for include other risks, Birmingham; Plants; earnings yesterday's Bigham; us be Q&A. available will uncertainties President statements you Investor forward-looking due factors. statements. historical forward-looking and Relations on the discuss as to statements. these in may release filed this as financial not Reconciliations Birmingham. President the risk for be measures non-GAAP includes harbor certain substitute the and information over measures. XX, GAAP a to safe factors now call to We'll for note Please forward-looking discussion description supplement also of measures CEO, turn to of an that detailed and acted intended financial XXXX.I'll GAAP earnings and were a only date, comparable that relating X-K. to measures July call provided Form today's Marty a exhibit

Marty Birmingham

and income to share. a quarter, income once our provision share in and Net than the was quarter second technology earnings increase second despite income significantly per $X.XX the critical or people. a a from million again contain strong benefited They diluted management my slightly and our in across quarter for eventful dedication their call. in XXXX $X.XX or quarter and for customers, the clients second delivering in second company. highest an XXXX quarter investments $XX.X lines. are It per for million all $X.XX Good our strong Net million, and businesses Thank team. It We $XX.X communities of company to Shelly. was fellow quarter's million first another quarter quarter being welcome first successful in made income continue associates expenses growth thank outcomes of to business serving wealth the you, and retail the net XXXX decrease for was $XX and $XX.X morning, the Pre-tax and our from our million higher down of insurance $X.X was was experienced XXXX.I want positive pre-provision history. for million quarter branch our per $X.X of from or from share shareholders.

the X has month Buffalo Five June, in company long the Star growth. of for of new opened City been we Buffalo. focus branches a Bank During

the branches. presence greater grown in openings, With our area have X to these we Buffalo

early, both contributing received areas While and welcomes are branches redevelopment to branches the still in forward respective revitalization, located in warm undergoing we look their have and momentum. new neighborhoods. positive to The significant

teller our our All solution banking of is to financial existing new annual costs associates, Elmira. neighbors. existing X we and City X,XXX for of customers Five a cost our shifting new Elmira the directly machines relocation with virtually customer to for Monday, relocation as branch. forward openings the serve services also footprint about We technology and as approach requires includes and centers in efficient company. no footage anytime. staff branch The with designed Elmira are lines exciting blend relocating a branch are bank a personal feet our that This new anywhere new to preferences. needs comfort from from no our new will in including branches barriers aligning This Bank certified branch building is our teller enable between a look On constructed and working our The and square more as financial and the a savings consumers style design are in advancements to and result of of the associates community delivering provides evolution. of technology, in newly customers. Star bankers. and less retail continuation They branch with unique branch feature well effective, to interactive lower The

into that X and You one a XX solution suburban centers overlapping with branches we XXXX, consolidated will closed full-service additional in recall branch. in communities financial areas

a call I'll customers to strategy. change, communities our to have influencing details Jack? turn as approach so responsibility can conditions provide our fundamental guidance. Jack, on We additional the over now our brand results market and to he adapt and

Jack Plants

like by you, from a decrease fees Marty. the related key the of and percentage second XX of $XX million decrease of PPP the $XX larger Good rates. second interest were in commentary and in Lower $X.X the than in an today accretion. in of million, a are higher loans lower larger margin along forgiven quarters to fee paid with the interest with paid points begin of fee primarily everyone. linked we XXXX. to first was million linked driven lower higher $X.X basis quarter the forgiveness quarter.Net than The compared areas, in slight first the I'd as second accretion on loans Net was quarter. the PPP a the for percentage average of first respectively, rate quarter.PPP balance loans quarter experienced at fee X.XX%, $XX.X million providing loans to quarter despite increase morning, by interest-earning Thank was quarter, Approximately income comparisons and million assets. XXXX, loan varying

in experience mentioned resulted recognition the impacted of to continue position basis prior year. balance the to in of do, compared XX compared compression to seasonal a excess prior originations Our this previously the and approximately was PPP due the to quarter. a million for of The on the linked losses in lower $X.X quarter million impact loan $X credit liquidity our NIM deposits, quarter in the NIM quarter We by in public of exacerbated basis fee the reflected XX in the benefit new margins of credit Provision stability points negatively quarter. linked as sheet quarter benefit spreads points. however, about from as core stable

Continued of of improvement $XXX,XXX linked quarter forecast, to the the national recoveries in unemployment the quarter. positive were net qualitative loss in lower in consecutive in trends release resulted reserves.Net compared the in charge-offs as charge-offs $XXX,XXX and quarterly factors, second credit

quarter a repossessions. of lower commercial-related The $XXX,XXX business and from experienced $XXX,XXX.Our recoveries of indirect second net level benefited of net recoveries indirect

unit increase the recent the Because losses prices. we of used $X.X in to In in $XX.X the million addition, factors, due loss these had a car down for per credit allowance to by million. quarter lower decreased

million fourth loans of of the at specific the loans asset by increased of XXXX, and customers $X.X industries by million reserve class million to million criticized -- the June end. the in we or in XX quarter as discussed, previously a pandemic. and Approximately loans to we've We we $X.X $X.X to The about and be believe moved of first specific because classified quarter $XXX identified totaling risk quarter in million. XX. these of specific these $XXX,XXX $X.X most remain reserve decreased criticized As million at assets about at aside $XXX set

credits, in will several optimistic And do points these losses post the while until performance plan pandemic. March improvement normalize down at have the We seen indicators of reserves are XX. specific of credits to end, credits release not to we credit was quarter status. XXX from paying allowance we these points The basis that total X return normal for on loans loans to basis

you continue total June with loans, If non-performing the to of to total to ratio credit and end was be XX allowance an income strong XX.Noninterest quarter. exclude XXX% quarter the the million XXXX. a $XX.X decrease nonperforming loan points, basis ratio $X.X first from basis loans million of loan than metrics to increases to a for XX at of losses XXX points first Credit lower of loans of the of PPP basis points

$XXX,XXX from that quarter-to-quarter that we fluctuate derivative second are of and and facing was to lower was interest mortgage because the expected with significantly Income forecast. fees combined quarter, lower the fee based impact level moderate. in $X.X $XXX,XXX call, swaps quarter to quarter data income and quarter, down million, XX.X%. executed rate was the fair $XX.X associated First $XXX,XXX XXXX limited $XXX,XXX the the than effective underlying million decline effective transactions the down of quarterly borrower quarter. during higher areas long in largest banking partnerships strong, the the noninterest a of from from including Noninterest with to of drivers in first difficult XXXX representing timing we rates activity exceptionally of million The the higher on value rate swap were on of income instruments both processing an services to and previous tax trades. Key million decrease $X.X Computer linked the was performance in of level because fees. of higher from professional pre-tax due The of rates investments. expense than year and technology. first was quarter down expenses, from an audit consulting was expense the earnings. was the expense the due increase have of tend quarter And indicated income to of $X.X interest tax interest of negative rate term Income investments tax in been expense and market

loans from indirect decreased increased real Moving XXXX. estate Total up Commercial on sheet. million X.X% XX, was and were decreased X.X%. or $XX consumer to mortgage XX.X%, X.X% X%, down the loans March residential commercial balance business

are You business the loans will commercial recall that PPP in loans. included

and XX the the X.X%.Total decreased quarter partially to million X.X% the public end than increased at loans, portfolios. lower business deposits, at of $XX offset commercial by were PPP in growth March nonpublic loans reciprocal portfolio deposit Excluding and seasonality deposits due total

to net continues pressure excess on position margin, and to put liquidity balance additions excess securities the federal our Our both reserve through portfolio. interest

continue We extending yield cautious excess expand a overall portfolio liquidity profile that we exceeds of During quarter, the second classes our reserves. interest interest risk-adjusted to investment income investment benefit the on duration. deploying with excess to into the by remain portfolio

However, mindful the net striking appropriate interest margin. balance of income an and excess mitigating net increasing we're interest of balance cash between on impact

have experienced $XXX end TCE of higher during quarter, longer the higher improvement and federal the Total due first X.XX%. balance. quarter. comfortable during very remain deposits our the X.XX% which a capital seasonal primarily of inflow tangible FRB year higher from to position, a asset growth we've retained the public given liquidity. which the We slightly that been outflow declined the the we'd and public equity reserve inflows Overall, loans of to PPP of deposits. earnings. at compared inflows quarter the the public given average We assets balance public of in Conversely, quarter of the in average was with experienced the past shorter-term seasonal was end increased, then experienced second at the historically, seasonal million in resulted our largely Our deposits and our ratio quarter, result our deposits of to of much strong to due excess common

growth minimums. well capitalized regulatory addition, assets. provide been very our concentrated on risk-weighted remain update asset capital In our has XXXX above key areas. an Therefore, I'll outlook ratios in now in our low comfortably

the portfolios, digit the are We year. contributions with PPP as commercial increase, to portfolio, from expected loan half the loans. in real categories loan the continue expect indirect largest growth of mid-single to in experienced impact total to of contribute the the estate our All first and excluding

million PPP and of approximately million $XX Actual no applications. million, million, respectively. accepting further originations and vintage forgiveness Our XXXX, first originations payoffs XXXX loans X experienced approximately in original XXXX, and for We million months QX included XXXX as QX $XXX no million of assumptions the the and $XXX we to of longer QX $XX of $XX $XXX totaled PPP is expect SBA the originations. XXXX

be We continue loans to wave forgiven that XXXX. first the estimate in of of XX% will

to growth our loans We and will in anticipate most as have continue mid-single we into not deposits. XXXX included forgiveness late in believe wave in of very digit occur second on assumptions the any forgiveness nonpublic XXXX.We

customers. remain environment, rate the seen the interest Star Guidance to low moderate, includes the deposits largely we the Five the year. deposit While a have change Bank public now half PPP in stronger-than-expected in these that new experienced growth due for elevated balances for X of the reciprocal in deposit we in growth year Buffalo. first and in projecting branches We growth both are double-digit of and opened behavior areas

expectation of are We carrying PPP cash points, to loans. reduction basis year securities. full reflects excess offset loans half for NIM securities first impacts by and guidance also be range compression X our PPP the It will reducing and costs. related balances, a investment muted points repriced, reflects the The XXXX NIM continued of by XXX be the on funding lower to liquidity excluding and basis higher interest-bearing lower from and will to interest-earning which our originations deposit to of half. new as noise in as yields in assets The partially compared forgiveness XXX second

NIM, continuing activity. excluding However, the of guide to this we are impact

are given to due are the public fluctuates public reminder, of limited deposits the term the to short due our As quarters both seasonal and earning asset our funding of from opportunities a quarter-to-quarter impact our deposit where NIM and to its mix. invest the earning inflows, yields seasonality lower quarters, second and our average balances fourth on funds. higher duration and deposits In asset

remains highly dependent guidance overall the on rate environment. Our NIM

year guidance performance single investment our strong noninterest to high given growth, increasing low excluding We on to noninterest income are income gains digit securities, full double year-to-date.

that mentioned, category swap and such range includes As of guidance. limited we so a income, difficult wider previously fees as this forecast, revenue to providing are partnership is

savings range to relationships $XX million the We in enterprise we noninterest Expense low expense to important mid-single-digit $XX million to investments continue our our from cost expense improve an program the to enhance is customers for offsetting to increase of expected future making per technology anticipate with standardization range and XXXX.Noninterest in profitability. are people and are in quarter. from

guidance year, our the XX% XX% first range strong X posted months. to lowering given of to full results ratio We the the are for in XXXX efficiency a

This tax We of in rate be a reflects impact the effective XXXX investments QX. continue service the guidance given expect range for the to within to earnings results XX%, years. that QX placed of in will of tax XX% recent in amortization credit and

impacted credit taking tax rate of evaluate and advantage to by investment continue effective will positively opportunities. our would further tax We prospects, be

and XX-basis are point Given provided. previously in to guidance our XX level low a range of to of to net low we this basis recoveries in of range net and XX a year QX full QX, points charge-offs basis points, reduction high-end revising the

the closing on focus turn That comments. I'll profitability my now improved and call leverage. prepared for to concludes Our remains remarks. back operating Marty

Marty Birmingham

our I'm challenge as the known Holliday community Committee. to of Chair. She Thank XXXX is XXXX extensive, would Chair, most to Chair I and and Development the elected a past and of you, updates. and numerous Dumbwaiter Committee a as of to mid-June, Chair was want was is currently since I the President the governance years, CEO In is and few that serves acquisitiveness, member very former recently Governance role. Publisher Susan been Jack. for Management moment that pleased she Bob the and Directors. Vice Compensation service. to and and of involvement Business now to Chair. a XXXX dedicated served with serving the and Chair take most the strong Rochester Her Boards. his Design. like on organizational Susan nonprofit thank close and I've owner, collaborative Journal of is recently announced for She of critical from she role many to willingness Board a integrity, in Susan this we Board Nominating has Board served of Latella brings approach Susan of

greatly and and Zupan. market Mark organization. has Mauricio benefited from agreed life will and the bring diverse grateful skills, and to our are new were June leadership annual meeting he Riveros knowledge in At X Bob's incremental exceptional directors shareholders, Mauricio they work benefit are representing have experiences, on We the and remain and experience of Mark additions, Board. that elected.

committed holds directors X of strengthened.XX% inclusion position. with directors group, women, independent of XX added diverse and has XX a thoughtful members Gender sensor Directors years, members X new X directors September, from and each with leadership X well. Board belong backgrounds whom the Council Board's geographic diversity Inclusion XX and succession as and or balanced by levels Board and X and footprint. its to practices Advisory key educate, Diversity established and tenure through over positions for X than Our and following to professional the key of serve acumen across and inclusion the and X of management counsel between X of a And the The diversity is planning and diversity associates minority continue for has and passion years build who X to between whom years members leadership as to have sponsor tenure with racial of ethnic belonging. X is years provide a members. the hold focus is inclusion Board I diverse a area years. Last of Board to the one to and an of Board inspired more company ethnic evaluate personal refreshment achieved Advancing opportunities past and been represent comprised diversity counsels foster groups, tenure. years. our of we learning be

work will our office. approach Our Currently, is to call company here of for are hybrid social and month. prepared primary pandemic, remain working And and office returned the state are XX% open earlier we the vaccination of to but we mindful to location the ongoing. continues remarks. primary following, not to continued safeguards and tracking Operator, many locations and questions. associates throughout arrangements. variants returned our a critical federal instituted the guidelines, prioritized and take of only returning and thoughtful our COVID including ready concludes this the maintaining successfully this also active distancing, has in XXX% workforce our of We to associates be The client-facing

Operator

the comes with Instructions] question you. first Damon session. question-and-answer now Today's from begin Thank KBW. [Operator We'll DelMonte

Damon DelMonte

So the I a provided. question was charge-offs just outlook had on net on that

to You basis guys said points year. XX the full XX for

kind the you've the first at points half of upwards of of net you If the implies of done in charge-offs kind back that what year. in half the look of XX of year, basis

Or is, down my expected need do that today, question cover able loans, the to guess, reserve is you ex-PPP I So, the you with that feel run you'll charge-offs? here? XXX to those on from where reserve let level are

Jack Plants

is this Damon, Jack. Hey,

looking level, from from standpoint, they So we're NCO to $X and specific what a million about historically. reserves we of expect revert have But of seen that And we still from those to there's deferral. when allowance their that the those COVID deferrals, some guidance stabilized back release as an pool reserves. expecting we've there come have off to at

allowance I an historic migrate So expect overall that to from would down standpoint, to back levels.

Damon DelMonte

need quarter on X to to think you another or So of specific comfort begin release you pool like those you where have loans reserves? could that

Jack Plants

there. trend Yes. I hasn't establish been quarter the long off deferral to mean, coming passage of a coming and the in They're couple them of XXXX. first the fourth enough quarter in are time of off

Marty Birmingham

Yes.

we read approach basically about. based period that providing you conversations time, the categories talking previously, The And our that -- we bridges be and Marty. that We talked guidance, of the relief year. them there from forward through was on terms of expected, end that the guys the are through when when would we about it's pandemic would and were that providing get removing consider regulatory to we've anticipated. Damon, in run -- of Just relief COVID the idea end to the of

Damon DelMonte

And guess a core question on quick just margin then the I outlook.

little at this than of of at another margin couple and down core to sure lower kind of make correctly. is excess yield least discontinued like, going understand I you're quarters? grind portfolio Jack, saying bit lower legacy loans the liquidity the for repricing to to a cause Just

Jack Plants

what's portfolio up off holding us. Thanks cash flow margin. yields. the -- that the then spread we're very is the a has Credit core well, Damon. There's reinvesting Yes. which market weighing just on for our liquidity excess at current trend is coming positive really And been

Operator

And our Sidoti. from Backer next question Marla with comes

Marla Backer

questions. of couple A

you your you're result talking excess institutions financial in some I'm that's key also all, in of terms other First that, thinking that? operating pricing clearly seeing and into experiencing. your markets of about of that What products are are liquidity, a as something of

Jack Plants

on the only been and Well, mentioned as from guided our to stable really relative a spreads prior year. earlier, standpoint, pricing credit very we've credit spreads have I

Marla Backer

if Elmira And Elmira this switching the thinking it's that is relocation. you're with older replicate terms you of find it the you topics might branch with a that in model successful branch, other Is model a branches?

Marty Birmingham

prepared to my I -- So were we sure basically, make in it. comments. emphasize talk that's We want

responsibility aware serving. and customers effective efficient and branch network are of we make markets that effective our Efficient the We the operating for the in our sure the we're and well to are the for and company opportunity most manner.

go So, for can model the forward. short as answer is, as serve yes. This a us we

were working location reduced this way the as opportunity how in have centers, Elmira, in an more they've to significant and served we them staffing. But to levels and a solution our at we in apply able to technology modern where how we're annual being well efficiency terms where version the expense size of and our deliver specific the in financial configure of and lease day, location evolved as operating. in together, actual third and branch of the as in or we Our of end general, approach, the of flexibility the and was kind specific we've application

Marla Backer

achieving at going So it? branch about talking of forward? cost in staff way the you're you as the to a open Is the think combination branches as of of about that terms well footprint levels right that reducing savings, reducing

Marty Birmingham

and footprint, savings. we it's didn't a it, annual expense. its Staff, It's since lease case, meaningful in own this

Marla Backer

if on have from then seeing kind question seeing last you this you're banking I the of us Can new. your fairly benefits any structure that is, give what new you're at -- unit And community color is point?

Marty Birmingham

bank, this functions well human And, our leadership do. before operating and risk pleased of functions approach participating I'll as capital. say are our bank, the very that our our our that as respond, community overall Justin we Jack but ask with I'll So administrative obviously, call. in I'm terms right in of commercial is I under organizational now

So Justin?

Justin Bigham

Hi, takes Marla. our externally time quarter sort the start -- to coming proposition with the banking. community that are developing quarters, and approach really things start we're Justin. Obviously, bank we're Its as strategy how structure. thinking to we And want Things new it to and adjust well changes the conduct progressing to and thoughtful of through I value in see the couple start -- changes to are you'll see about some how of think the thinking to our future. in thinking and about how community own

So, information I future providing into look as the of couple we forward in to next more the get on that quarters.

Operator

Bryce question Group. [Operator Our next Instructions] comes Hovde from Rowe,

Bryce Rowe

to of wanted sensitive against of kind I one specific questions reserves the the follow-up about COVID on loans. Damon's there

$XXX So they terms in you a off drop schedule curious, coming was if come off early? was of million, to kind deferral? of loans from of Jack, noted that did million Or $XXX normal

Jack Plants

Hey, this Yes, stability in those is loans Jack. Bryce, performance. were that their X we saw

payment normal deferral So to returned early and off program the they status. came

Bryce Rowe

earlier the -- there million prospects set balance the at time for you point? out line than balance the have happen that $XXX are QX-QX And for to this that

Jack Plants

stability. to off them. time We very and trends The status. them. see in credit to very Yes, at just is, closely see this closely. monitored return potential to about those then there loans feel we'll We optimistic for determination stay normal is We want them on we payment point come

expect So direction moving are the in time. they that in that point at we right this

Bryce Rowe

of us and of balances kind just I second respective Can a as Jack, you said one. tell what program. the X for round what the you PPP for about the about of quarter? are ask forgiveness round the round missed one the to end wanted I

Jack Plants

outstanding. one million that related related At the $XXX in end million of quarter total the we loans of XXXX and to round XXXX to million about the was PPP had $XX vintage. vintage $XXX

Bryce Rowe

And then certainly be out fees helpful? as X.X, total can remaining X.X would to but fees PPP, just tied you and remaining break it

Jack Plants

can it I break Yes. out.

million X.X $X vintage vintage. have X.X the million and remaining We on on $X.X

Bryce Rowe

to And about you industry. highlighted It's we've then the obviously liquidity. seen wanted obviously excess throughout something ask --

plan by, purchases? that what point? a kind to last or and $XXX be, bond trying are bond purchases of grown million the is flows will quarters have to let's it that quarters. Or the new quarter the Is it, portfolio or this the more understand the the call for all You bond X kind dictate of going X at

Jack Plants

balance cash, So an been between net we're margin. And interest metrics. sitting trying on to managing appropriate obviously is excess both net with weighing income strike the having growing interest and that Fed

very growing particular we about the we've undue in we to extension through purposes and lean a on bonds but want the to choosing the as methodical put doesn't in portfolio purchase of the the portfolio, So reserve been provides future duration to liquidity for portfolio ability that balance. an way federal this get the excess

Bryce Rowe

And from last one me. one then

lower a have sense perspective from quarter? was more that You the if cars anomaly continue feels higher used It a might you repossession recoveries or the kind values. side, like in an to, noted a on the certainly the side higher indirect Do and of of value of repossessions here. cars this here or will continue

Jack Plants

that's driving levels Yes. the coupled in at lows. car over we The our average with historic and expect but that are really prices, repo vehicle normal down rates loss per to with reversion trends increase we've been seeing used But time. the significantly, is what's is that the

Operator

And Twerdahl our next question with Alex comes Sandler. from Piper

Alex Twerdahl

I of else. sort overall of the just had want pie, to than anything ask, couple think over portfolio of indirect years, I percentage the more maybe as a last shrinking supplementary the been

that has from given changed. if And just be in here? indirect around auto, process recently, market and bigger actually strength maybe portfolio car curious, liquidity a the thought the all out the the can Just certainly, pie it there the percentage of

Marty Birmingham

the that we strategic relied -- capability on, it's But, very of clearly, long over hasn't Alex, of that with the aware this capability the period has really market term. robust how system, been well that terms excess all business balance as process liquidity in -- thought line as sheet through dynamics in well the our time So important certainly, we're have been. a rolling can of

it's been fundamentally reason credit program the term short the probably very you to in on now its and consistent, engage really performance speak is is of because certainly, know, we're itself. does so continuing credit. And focused as in stability Just our strong year, comfortable for our the XXth

course with remain last comfortable over we the and capability So had the that of very glad it we XX months.

Alex Twerdahl

then but this types years. curious of whole fee-based that the over you be M&A there opportunities on some And there's just of going past you're businesses of couple of perspective, some some to those later I'm guys have more transactions just the bolted an to also out from not do bank, seeing If what year?

Marty Birmingham

in bolster and fee-based was to Landmark excited with we our made in Well, by we're dilution was of being Rochester us. the remain in and driving very it the platforms. market continuing presence That that open of principles interested progress those as But business to acquisition to And our a of modest terms acquisition. are the for our terms brought as have us opportunities knowledge terms impact, accretion. earnings that's in important well very

And be them those wealth support opportunities them so insurance whether open we'll operations. or as to surface, our other and consider they

Alex Twerdahl

the the given would since a XXXX prospects market we've guys acquisition, that's you about something the It's criteria past. were guys and But landed the any of been you curious something everywhere, seen would think outlook transactions. the just for I'm and earnings in be? while guys. you And then if on down talked certainly that lot for in of participate had the it's just what in just whole bank a you

Marty Birmingham

sure we're to the back guess, the that terms same more we're for also to across in what's that sensitive of aware by sense earn the outlook and open financial the making the merger possibilities, We're periods. conversations. you well to while sensitive makes of impact And hear be We is but of very possibilities. equals criteria dilution, market. I accretion are happening to in these probably want These being, appreciated shareholders. enthusiastically And

Operator

gentlemen, concludes and final the this I'd team Ladies management back the session. to the turn like question-and-answer over for any conference to remarks.

Marty Birmingham

our to participated investors with Rocco. call look I the all continuing future. Thank who forward communication to this to in Thank We the on morning. you. you, in want thank build

Operator

thank all today's for call. This conference We concludes today's presentation. you attending

wonderful may day. You And disconnect your a now lines. have

Financial Institutions (FISI) 31 Jul 212021 Q2 Earnings call transcript