People's United Financial, Inc. (PBCT) Q1 2019 Earnings Conference Call April 18, 2019 5:00 PM ET
Company Participants
Andrew Hersom - IR
Jack Barnes - Chairman and CEO
David Rosato - CFO
Jeff Tengel - President
Conference Call Participants
Ken Zerbe - Morgan Stanley
Dave Rochester - Deutsche Bank
Jared Shaw - Wells Fargo Securities
Austin Nicholas - Stephens
Mark Fitzgibbon - Sandler O'Neill
Matthew Breese - Piper Jaffray
Brock Vandervliet - UBS
Collyn Gilbert - KBW
Operator
Good day, ladies and gentlemen, and welcome to the People's United Financial, Inc. first quarter 2019 earnings conference call. My name is Sherry and I will be your coordinator for today. [Operator Instructions]
I would now like to turn the conference over to Mr. Andrew Hersom, Senior Vice President of Investor Relations for People's United Financial, Inc. Please proceed, sir.
Andrew Hersom
Good afternoon and thank you for joining us today. Here with me to review our first quarter 2019 results are Jack Barnes, Chairman and Chief Executive Officer; David Rosato, Chief Financial Officer; Kirk Walters, Corporate Development and Strategic Planning; Jeff Tengel, President; and Jeff Hoyt, Chief Accounting Officer.
Please remember to refer to our forward-looking statements on slide 1 of this presentation, which is posted on our website, peoples.com, under Investor Relations.
With that, I'll turn the call over to Jack.
Jack Barnes
Thank you, Andrew. Good afternoon. We appreciate everyone joining us today. Let's begin by turning to the first quarter overview on slide 2. We are pleased with our first quarter performance and continued success enhancing profitability. Operating earnings of $123 million increased 18% from a year ago and operating return on average tangible common equity of 14.4% improved 60 basis points. On a per common share basis, operating earnings were $0.33, up $0.03 from the prior year quarter.
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