FISI - Earnings call 4 2023 | Financial Institutions, Inc.

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Operator

Thank you all for joining. I would like to welcome you all to the Financial Institutions, Inc. Fourth Quarter and Full Year 2023 Earnings Call. My name is [ Breeka ], and I will be your event specialist running today's call with you. [Operator Instructions]. like President the and now your over would Vice host, CEO, I to conference pass to And Mr. Martin Birmingham to begin. go Sir please ahead. Martin,

Kate Croft

safe measures. of website discuss statements. We'll forward-looking and supplement and for description relating were measures Thank risks, discussion due Actual not measures to a company's CEO, release earnings statements. to materially comments may also for and release to refer will you a factors We risk be filed session. Today's provided this of joined intended XX, Jack Form results us of that prepared Reconciliations Providing members as and I'll harbor January note substitute will that teams for these GAAP our for comments measures the GAAP to of financial during certain financial non-GAAP detailed additional prepared well question-and-answer earnings today's the Plants. statements forward-looking the the include as filings, from you today's variety includes our They turn over will to on of CEO, exhibit call historical differ and be Marty an now Birmingham. information as leadership Please available Birmingham; only Investor uncertainties call presentation and Marty X-K. yesterday's factors. call. may other SEC forward-looking and Q&A to are XXXX. Relations by and which to financial date, President CFO, be President with accurate in joining the comparable investor

Martin Birmingham

liquidity us in customers position best ability higher strengthens provide team. and the growing quarter very stronger reflects interest more our our company appropriate the throughout and new digital and requires pressured more a unprecedented and near-term interest and benefits, in the in support today. third-party environment thank The areas and December, pressures decisions on value-added higher that adjust costs within growth our franchise, Drive and within process long-term improvements, leadership to customer-facing operating still thoughtful efficiency current ensuring particularly easy, they're retail brand rate inverted was strategy greater and our of objectives. The past a realignment curve us remain strong engagement long-term position our while in to and teams services, continue executive growth our of our growth with targets particularly and expenses, process senior within sales manage operational aligned carefully marketing, accelerate salaries reflect closely as joining XXXX, and to our announced company vendor ensure in is certainly to deposits, approach the the investments, not success drive relationships. This a but environment proactive funding our Throughout yield prolonged which different revenue. of in to enterprise and expenses and with strategy that fourth organization manner leverage put relationships we leadership morning, that banking the better realign we Good enabling made reducing by and control execute strategic and our existing everyone, capital. of to and no reflect us going long-term Kate. effort was strengthening for changes industry, by Thanks, have brought to to defending XXXX management our to into to to in us a experience key realignment proactive of layers team operate our associated our XXXX. In an nimble you

and periods. his the of million a detail income impacted These also in walk our of or of and $X.X annual were to net items potential, prior result, forward or quarterly net per through including share results in investment management of million common realignment $X.XX linked a balance a insurance active were down actions will of of earnings As our through our and to per enhance both more repositioning by sheet $X.XX investments, diluted available segment these from number remarks. that share Jack our reflect shareholders again the securities company-owned income $XX.X proactive our work portfolio. life year

total deposit nonpublic results. growth were XX% growth deposit Our and highlights XXXX X% of

deposits While competition deposits, amid retain the the remain to the due year. third of with from over down pleased very were seasonality primarily the attract of end and to quarter ability public of the course deposits we our intense

late total, driven new retail by welcomed Five in in a more customers more deposits part brought Buffalo customer we than the to during that in who July our base. success metros long-standing market from of customers These were and was addition brought November. In million campaign money grew account based Our in million in $XXX ran X,XXX through Bank than to by $XXX Rochester. XXXX. Star new deposits to BaaS primarily

$X.X lending billion, basis, by a about partly during profitability growth up was quarter platform quarter. the combination On partner as fourth offset production in while fluctuation was While of our credit well enhancing disciplined to in natural $XXX of the million, decline of a the in continue this a our and lending, of moderate loans as deliberate this BaaS governance our pace XX% consumer as in residential X% balances. Maintaining indirect balances to onto we our linked short initial thoughtful target of XXXX year-end transitioning clients and portfolio. we and grew commercial our reflect process

amid pricing higher of around exit softer X% the to to in the a experienced Upstate New commercial opened than quarter. real order to We houses the market. Commercial challenging reminder, our quarter newest and growth in more our the estate XXXX muted a fully a Pennsylvania remained more and New and York LPO align during up Commercial made auto also fourth to Syracuse, combination January was due And market C&I team our economic effective in as anticipated core industrial production. lending as moderate in January York our efforts lenders. of environment, hurdles focus decision demand X a

and we believe in New place the horizon to on on a the Central taking this as York, of hub CRE we development both that positioned well economic tech-driven the region becomes microchip opportunities are are Given C&I industry. capitalize

basis million of from September newer relationship properties exposure cash not believe to we a XX related sponsor, higher due XXXX. short-term loans moved a $XX.X what quality. a and largely points to yet as percentage single asset long commercial we XX, and in at XX up was were nonaccrual. to working This Nonperforming portfolio stabilized. total that record loans CRE performing track nonperforming through issues have are who This flow points basis to totaling increase year-end, properties as loans positive of has strong at Turning is

this are the participating banks relationships not fourth group, club points in satisfactory borrower, quarter borrower and and XX ensure year situation resolution. Setting commercial a $X.X We loans this deal are specific full remaining the our million workout actively concentrated nonperforming of in average smaller the basis primarily of the Annualized this managing basis charge-offs industry. to with to any net loans were are that for the XXXX. for points aside XX

quarter, a During associated commercial of million did the charge-off largely $X approximately with experience fourth we one relationship.

their This million XXXX, quarter, annual compared was our charge-off are $X do basis as commensurate XX the by recovery XXXX delinquencies normalcy, average ratio through in net somewhat portfolio. XX elevated points through XX XXXX, and remain experienced work annual within in at has of consumers, to indirect to impacts remain payments we of stimulus points from points of full with economic half the they low the with return norms this we've to exceptionally are XXXX consumer exhaustion basis expect since and in between the year and of least September of commercial student a up headwinds in charge-offs the ratio basis we our inflation, the Given year-end X historical basis loans and the first since apart XX the charge-offs loan is net asset to XXXX. What resumption while of XXXX. ranged XX to third way this portfolio class reported size then recorded points payments

have Considering that amounts quarter. over balances, functions. working asset have of as reduce professionals reflection bank would today continue $X our to our XX time reflected loans remained underwriting few the overall our relationship-based December in Since every and same the as consider indirect the credit processes quarters solid this higher of traded basis would billion billion XX that between exceptional. points stable, media and publicly delivery strong XXXX, next consistent separate fundamental note loans metrics from to ranged to grown, have and quality XX generally period, nonperforming a and net the loans ratios. I XXX total charge-off basis in and U.S. be over total reported experienced we credit $XX we to the credit charge-off As points of be

the the guidance. but portfolio to we metrics. health very the peer group this average additional comments. over In on results loans quarters details of concludes my XX than more fact, and points since XX all remain in more the nonperforming our associated beat asset details Jack of on pleasure XXXX. Overall, of in and our basis ratio loan my turn our to This median than one for now It's introductory call of quality confident XXXX start

Jack Plants

environment, $XX.X of Good the income reflective basis of to from million the of XXXX strong X.XX%, the interest yield funds you, $X.X and fourth our XX impact overall for third everyone. Net increased high of was inward our Thank the rate competition interest cost million down morning, markets. as the quarter continued Marty. points quarter curve in of

points. placed by full guided the a net points NIM to the in experience the range. for associated income equivalent basis the basis NIM XXX quarterly a end interest fourth with XXX X in fully our basis impacted basis reversal previously margin of during basis of linked was at Reporting the interest relationship of quarter, the nonaccrual quarter. XXX compression quarter. which compared points low taxable reduced on We for was points by the to year quarter on commercial NIM continue margin single

experienced earning to of XX%, in the throughout expect margin including the in that portfolio securities the of higher-yielding redeploy funds than occurred opportunity yields assets. beta Given XXXX and loan cost has year. Relative which magnitude XXXX, our our improve to rate into flow investor XXXX, associated see billion ample of books, cycle-to-date the with off a $X incrementally deposits. in along anticipated we FOMC summarized you'll increases Accordingly, cash total rolling time our of presentation more in to these deposit and have we

Excluding the deposit nonmaturity of time a beta portfolio cost XX%. of the had deposits,

increased into $XX.X $X.X of quarter modeling, or fourth of the in deposit the surrender The underperforming of by timing XXXX. The linked several million Given totaled up to and level quarter the the investment as basis would a less income. I Swap benefits $XXX,XXX incremental high expenses $X.X gains as overall supported trajectory the premium the Noninterest of of divisions $X lower were million subsidiary of RIA XXX(k) our offset net fourth separate XXXX. Noninterest endowment product and the increased income general our value quarter from forward increases the slow the clients, of value Capital, guidance and deployment which that to a than of to the Noninterest the processing, serving modified related component. in these premium in approximately the component X% was factors, and of saw mass stable restructuring a professional of and account inflows surrender advisory ] contract in Career stable separate premium services investment surrender. worth reinvested investment the policies. included including Incremental positive in was advertising from the income in commercial income estate and offset product income, life million net XXXX was company-owned that insurance basis. on individuals economic promotion, income than account redeployed sponsors institutional betas quarter, affluent like the the account associated income capital with revenue included associated the given and taxes our salaries X a and with cash partially driven FOMC more data in expectations the in and quarter. policies is is to internal value and and computer on expect note proceeds the million noninterest linked and activity quarter increase penalties expected COLI that charges. lower $X.X income plan in the account families, real stabilize in to X% down we value million income. [ up related on of expected, further general during

incentive forfeiture workforce announced compensation losses reversals quarter $XXX,XXX for with in reserves in increase the increase for severance by in respect of expense With million XXXX December, with nonrecurring was associated the in the reduction the for coupled and compared of primarily rewards more of $X.X to quarter. in charge-offs relationship provision fourth Provision to the the realignment expense moved and reduction due in in previously fourth credit The than that higher an the $XXX,XXX commercial of those stock-based associated compensation a current million was offset net nonaccrual discussed, the linked Marty to quarter quarter. specific loans, on impacted. $XX.X reflected to

XXX expense portfolio. Income to up basis capital tax ratio COLI ACL increased representing taxes gains contract with executed modified rate the and A quality of quarter, an XX.X%. the very basis with, surrender the was coverage reflects are from on the total million loans of $X.X associated tax in ratio in effective endowment quarter. penalties This points, Our points linked given we X loan our quarter. comfortable the

XX, stood December end of third X%, of at book share a TCE compared the quarter. reported accumulated other loss We comprehensive at $XXX.X $XXX.X to at value ratio million of $XX.XX. intangible million Our per December XXXX, at the common XX

Excluding XXXX, the $XX.XX since XX, AOCI respectively. share the X.XX% common TCE book per value and tangible would impact and been have ratio December

investment provide Freddie on and expect million higher-yielding Mac portfolio Mae these to our metrics outlook Considering income, credit the of segment did high an our and shared annual in in associated with $X.X earn use the XXXX the more our $XX the Ginnie to of over an normalized we for like proceeds quarter levels capital. I would X-year the portfolio. That and we areas. We continue securities October. call, on we to you be after-tax given loss an bonds. flow nature million of back, believe mortgage-backed $X.X and in quality of this return a given approximately update appropriate key reinvesting securities time as cash now said, to reposition Selling of our million agency third to of

points We sheet by as with coupled spot expect cash to is improvement of originations. we interest portfolios, and expected core net using forecast margin loan from a investment show modest XXX the balance NIM the to deposit fund XXX basis year-end. as XXXX our rate anticipated to throughout of utilizing loan growth, reposition flow

projecting XXXX. are noninterest income We versus relatively flat XXXX for

and that and limited as Excluding of predict; in stable noninterest items insurance impact investment difficult impairment income other to XXXX transaction, the component on tax company-owned the such as categories life the value investment are credits income losses such of securities. partnership

relatively noninterest XXXX. We for expense versus flat are projecting also XXXX

by Our ongoing initiatives, fourth that and investments from positive are leverage contribute modeling These risk technology, spend XXXX expected reflects experienced and inflationary oversight. XXXX. in years banking, the cost namely reductions for operating impacts recent our in strategic quarter to realignment to are the investments digital activities, we offset BaaS in

service of to within expect the in recent in impact tax We to placed effective the fall XX% the XXXX of the years. range XX%, of amortization rate credit including investments tax

on investments will effective positive We opportunities these our the credit have would to continue tax and impact evaluate rate. tax

This and reserving loan be is between for quarterly business most capacity remain will capital recent we ratios. pipelines and balance corresponding relatively year our X%. partners benefit based full production X% expect focused to on and sheet guidance modest realizing profitable on We as growth the our

do priced expect category, We will full from total deposit continued Service, deposit be year to between types growth focused X%. nonpublic also although as lower the and in XXXX. expect Banking on a cost includes deposit we growth which The X% disintermediation higher of product

We of expect our to annual basis XX charge-offs net to within full year historic XX be points. range

concludes operating that guidance. will executing my the outcomes. and the on focus in profitability line updated remains call to that drive back time. turn results prepared provided with these overall I'll believe and over Marty. achieving That will now leverage strategic guidance remarks We improve Our initiatives

Martin Birmingham

Thanks, Jack.

our improvements a to on earnings. this our off momentum are focused our team and year, sheet. in into maximize the balance the We we've and benefits and strong quarter us With made to ready XXXX remains from start the organizational carrying to liquidity, first structure capital of good

protect for continue value we long-term business our have these evaluate for key to shareholders. we drive our as X done, areas will and opportunities Just to enhance to

want XXXX remarks. concludes to and That did our I conclude, in please I thank Before success all customers, our will they all do to communities great take and the XXXX our Star Operator, for contribute in of open our care to questions. Five associates they to for shareholders. call prepared

Operator

[Operator Instructions] from We have Hovde line Nick Group. the first question on the Cucharale phone from

Nicholas Cucharale

I for XXXX target double-digit context just provide to X% X% wanted the for on you additional to loan some growth. after in growth 'XX. Can start the

You are economic and alluded given funding growth you moderating pipeline to some landscape? the the rebuild? Or

Martin Birmingham

of moderating working rate in as a teams funds the well of in environment. And to economic our changes been that growth cost that ensure tactics. doing in light the we've interest Nick, lending variety through of So with we've light been adequate in -- company generally spreads we've general, of We've to our landscape. got general been our at as

As working themselves our well But you whether and CRE feedback more the comment. space. Jack, specifics commercial they the taking how on built terms are of conservative I'd with and XXXX, our to for that being plan receiving on our customers projects, for it's in in ask industrial or we've as

Jack Plants

question, Nick. Sure. Thanks, Marty. thanks for And the

point, So been is I we're earnings. more of a company the on, on for liquidity, focusing mantra areas the is one directly And focusing capital four guess, we've and to that Marty's relationships.

our with come have or platforms insurance expansion wealth that and originations. addition loan in those into management deposits So to

in internal away require the capital to on come regard, that hurdles. one our exposures. pricing in event does And clear we're from return would that So risk-adjusted sufficient backing transaction-only it across,

demand the low largely commercial a growth portfolio, -- runoff from mid-single-digit translates in I single-digit So would say, then seeing the as continued growth digit commercial of tandem flat we're in space. so with to that the to indirect real estate low and standpoint in market in what what continued

Nicholas Cucharale

mentioned to the cuts? assumptions appreciate color. respect margin, Fed. I are in then And rate the of terms your the you with What

Jack Plants

Gap] [Audio

that wide I guidance range provided of market expecting we look is assumes versus a is estimates the In quite expecting, the Fed And what rate when [indiscernible] at there. what environment. interest the there's

So I personally to don't Fed. like the bet against

So if cuts they've Fed rate that they I in follow recent dot with would most cuts, indicated the guidance. are plot X assume there the their that

Nicholas Cucharale

I did stands across you then now, increase as it you year? And correctly Okay. margin that an assume in hear the

Jack Plants

saw we expansion standpoint, what from Yes. in through the We modest we're projecting and a quarter be was the fourth consider bottom what XXXX. -- to margin we

Nicholas Cucharale

for And that of the deposits at year partnerships you I Are year? growth? expect partnership appreciate relatively for and that. expecting year, you could end $XXX to over course then harvest the just lastly hold relationships? the big another of your should we heard I your existing me. for at BaaS new million expectations but the Or discuss steady

Martin Birmingham

to comment. So in and comfortable But the routines we very technological -- that support him ask business Officer, general, Chief with that regulatory to as industry, the is Reid making, governance this In of right conscious risk happening management feedback, activity, light and in here, to customers the the business. management Whiting that we the got other we're and have this we platform. our X Banking right ensure to I'll on-boarded right investments what's are around we've our Jack commented, support initiatives

and please. the So But it integrity to company. we drive pace are a operational we take correctly into ensure measured doing want that Reid, to

Reid Whiting

question. the for thanks Nick,

growth the I throughout existing pipeline, expect vast year. think with our some deposit do we

noted, some XXXX. Marty growth would expect we in pipeline the as So through

We'll risk to are not commitment of or quarters. we've scale align at appetite double couple down well our our execute as as financially to past advantageous those the that operational well our However, really strategy. that select pace most and partners seen readiness with over on and really the

Operator

Delmonte have from now We KBW. Damon

Damon Del Monte

the trends of 'XX? I continue part out that you will just early into costing that you guys seeing. noninterest-bearing question on or had year? and here to Would slowing that Do of higher has the a throughout deposit expect in slowed feel we're be the rotation the accounts

Jack Plants

that take Jack. is question. I'll this Damon,

that is something that's do expect expect XXXX betas And we've and as the we obviously a XXXX. we will the continue do we our expected standpoint, slowing So that XXXX. we course it of are that, from throughout in as slowing that also, that well. while trajectory enter saw cost see to of And

though an So that of it probably to appears end to third end quarters is expected come towards of trend year. next and as the the fourth

Damon Del Monte

it. Got

guidance like how the Okay. -- credit at net charge-offs for then to the with to regards And with XXXX. in look

to basis that kind you million try growth layer provision something kind XX into XX on have level, for million $X of charge-offs and maybe top of just a and that, loan of to fair As model the of the an to appropriate back range? in net $X.X is points to then kind of something it quarter

Jack Plants

ratio from of XX expectations you of basis I range. provisioning appropriate think then to And to suggested, estimate XXX the growth the around an that measure for X%. the maintain is points X% loan coverage MTO as point with basis XX

Damon Del Monte

it. Got

on you're Okay. Great. Is on no, And flat your income, on on fee that that's to then said the clarify, that -- a to reported basis. year-over-year you just expecting operates. the be

like $XX level? it, it's call flat on So a is million-ish, like,

Jack Plants

Yes.

Operator

question We have Twerdahl Sandler. the from from Piper Alex next

Alexander Roberts Twerdahl

clarify the react guess, balance to it a I the the guidance how you for Jack, sheet all just as help I on but would expectations Fed is now, your your outlook NIM, appreciate can cut? on

Jack Plants

neutral. that plot aligned We that cut outlined Fed X was that as they've they is Yes. some the cuts and our with if did we're modeling intended, which fairly the the did expectations dot in

of about repricing portfolio. it for we rate that behind period. guaranteed a year, time deposit in a that interest showing And did think to comes last we were I of income that down then have XX-month the that the in money in benefit repricing under summer which And market $XXX,XXX the reasoning campaign scenario. launched is our

start that XXXX, on deposits in those maturity would of their XX-month to come So up with align to July expected would guarantee reduction. which Fed be

and would So then XXXX. modest improvement projection, in current expansion the the I in or current see period

Alexander Roberts Twerdahl

certain just fully level? at or think in mode is of you then stabilizes that point? the on percentage portfolio And great certain Or -- at That's this a rundown auto loan that the a dollar that complete do book, color.

Martin Birmingham

core terms been of That's loan the the the we've adjustments of considering -- a with markets of it to last consistent year, reflection this indirect budget our the And in trying in simplify consistent overall in our and continuing Pennsylvania, book. thoughtfully market we've and business upstate drive way made forward portfolio plans is our to our opportunities. the just of on a percentage the some and to focus that's with exit relative

I million will So continue plus. that to mark think moderate but $XXX be around the

Jack Plants

that's great Yes, improve comfortable had really to the we've company platform opportunities thing line to for in that the big I aligns months, we're are think price our to as fair, a the ideal where have we picture approach expand and the this level the credit profitability spreads is production about originating to that and opportunities Marty Alex, we're of for think and the the ability last course new would only to gotten really capital, of XXXX. XX I is with and to add, for tangible the that for with we've us mix test our in that regulatory business. But for elasticity

a standpoint pricing as adjust, speak, to so the Although landscape from future in unfold the that can we see periods. that a is we [indiscernible]

Alexander Roberts Twerdahl

that -- a And versus relief shift guess, I continues bit commercial? like commercial a $XXX little the be Got the some the it. then grows bit auto does down the to Does provide ACL provision? million a Is what's presumably, wind indirect there'll that book towards on in level. little of bit faster, mix -- that

Jack Plants

more higher. as delinquencies becomes is far ACL the the what portfolio So book concerned. are on see is a bit little credit -- And a as seasons, generally, the that the you bit as portfolio performance indirect little pronounced in

Our tier -- level even of you a of see time. delinquency with short a period low wouldn't expect in to credit or

in we it's portfolio, the X at first the little current provision and the least trend overall, and fourth a that what's at levels But to months continue layered guidance. the that's pushed NCO seasoning into with expect our our So in in bit for XXXX. quarter, overall up

Alexander Roberts Twerdahl

That level? like $X quarter per charge-offs of million is

Jack Plants

estimate. Yes, I think good that's a

Alexander Roberts Twerdahl

Okay. sort -- than at mean, ranges as of you standards there level losses that like does And just seem then to gave is of seasoning borrower sort And look on just the mean kind based you of point kind it's those it in know any Is to? customers? higher just the you of I the but that, way like portfolio, you the higher I is those historical specific can there subsegment that that's of and specific auto, of a whatnot. ring-fence indirect driving types I

Martin Birmingham

XX% I production headwinds, that credit is portfolio. But the experiencing X, XXX performance some and X high that through ground of is and working continue think Tier has now we're in the we're bucket or impacted we focus to to cetera. and now time in the X XXX-above overlaying current back Tier in So what et work, buckets, buckets XX% And above. our the periods, vintage economic origination relate definitely pandemics, stimulus of above right and the

working slower the those the good the shrinking changes. idiosyncrasies of last faster are kind no off are just fact we it, It's paying credits. the than and the portfolio their of So way years are through credits that several

Alexander Roberts Twerdahl

Marty, then openness question And table that quarter, and it. Got you last for of on was still seeing just to considered? your final being worth. business expressed a I still something insurance think the some what exploring idea that's me. Is the

Martin Birmingham

aware the to my it's open it. will liquidity, consider of We're And that we, that as It's happened. a to -- in take something company, consistent we the opportunity. extent I of, comments of that with and capital thoughtfully advantage transactions have remain terms remain And earnings. can earlier we

Operator

next Inc. of from question Your comes Matthew Stephens Breese

Matthew Breese

NIM the could event. in year expect us you loans to peak you on like back outlook. remind what it's repriced then start percentage type of can half deposit we do hoping and It costs was of the I Where immediately? sounds 'XX? And of when

Jack Plants

to This Jack. increase cost that is of from around to indicates I'll XXXX. modeling basis cost fourth take quarter is fourth XXXX XX a Sure. of our points the funds the that the one. of expected perspective, From of funds quarter

earning that up on guiding expansion points when approximately is think However, of to. then same XX the basis contributing we're asset look at variable side it's And that around portfolio, that's you period, modest margin over XX%. which the the I portfolio, the the of to component

Matthew Breese

just blended And loans on are then that new us rolling what the dynamics? versus yields some is what's give versus you off? roll-off it. on color roll-on additional Got origination What could

Jack Plants

We from a I [indiscernible] 'XX. The expectations some want off what's think in just presentation on basis to [indiscernible] guide that coming say, we full over roll-on shows we didn't pressures [indiscernible] have off, competitive on, anywhere we depending coupons XX our slide see space. ultimately a put commercial points range roll putting might on that we're the limit to basis the to for to XXX portfolio.

Matthew Breese

was anticipated securities And the cash Okay. what year? flow for the

Jack Plants

million. $XXX

Matthew Breese

relationship it? $XX.X Was last of was loan industrial? geographies? New that? on office, it rate one was your just or one other I the Was The of that multifamily, And was What had then upstate or commercial D.C. of million. where type York in

Martin Birmingham

home. headquarters result characteristics unique a and city that. it college And York, another elite call the Finger we're it Ivy New that's confident really grounded small as a a large of of the unique the that Lakes, calls of very Upstate institution by League

Gap] [Audio

we talked down to there. the of of a The it light are solid. major issues And issues deal. a loan the was the It's here. is that with economic working through short-term one values it collateral community tied just industrial that's drivers club But some about

not in participating we're [indiscernible]. We're the it. leading So

Matthew Breese

do what -- the the What's size is? you interesting. overall know How [indiscernible]

Martin Birmingham

top my the off don't of head. I

Operator

remarks. you. Thank Birmingham to like it Mr. would back for any to hand closing I

Martin Birmingham

building operator, much conversation to for this very look morning, on quarter Thanks the this call. attended our We to second with your forward results. who and those assistance

Operator

all you confirm, does joining. conference today's Thank conclude can for call. this I

lines, disconnect the your You now enjoy of day. may your and please rest

Financial Institutions (FISI) 26 Jan 242023 Q4 Earnings call transcript