Reports Q4 NII $96.8M, consensus $102.42M. A credit loss provision of $0.3M was recorded during Q4vs. a credit loss provision of $6.6M during 3Q22, and a credit loss recovery of $132K during 4Q21. Excluding the impact of accumulated other comprehensive income, adjusted tangible common book value per share was $25.54 at December 31, 2022 vs. $24.75 at September 30, 2022. CEO Kevin O’Connor stated, "As we close the book on 2022, we can reflect on an extremely successful year for our Company. Reported net income available to common shareholders for the twelve months ended December 31, 2022 increased by 50% on a year-over-year basis. Importantly, we delivered consistent financial results throughout 2022 as demonstrated by an annual return on assets in excess of 1.20% and an efficiency ratio below 50%. We made numerous investments in our business and people over the year, including a buildout of our middle market commercial lending operations. Finally, we were very proud to achieve an overall "Outstanding" rating for our Community Reinvestment Act rating from the Federal Reserve Bank of New York."
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