People's United Financial, Inc. (PBCT) Q2 2019 Earnings Conference Call July 18, 2019 5:00 PM ET
Company Participants
Andrew Hersom - IR
Jack Barnes - Chairman and CEO
David Rosato - CFO
Kirk Walters - Corporate Development and Strategic Planning
Jeff Tengel - President
Conference Call Participants
Casey Haire - Jefferies
Ken Zerbe - Morgan Stanley
Jared Shaw - Wells Fargo Securities
Brock Vandervliet - UBS
Collyn Gilbert - KBW
Matthew Breese - Jaffray
Brock Vandervliet - UBS
Operator
Good day, ladies and gentlemen, and welcome to the People's United Financial, Inc. Second Quarter 2019 Earnings Conference Call. My name is Gigi and I will be your coordinator for today. At this time, all participants are in a listen-only mode. Following the prepared remarks, there will be a question-and-answer session. [Operator Instructions]
I would now like to turn the presentation 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 second quarter 2019 results are Jack Barnes, Chairman and Chief Executive Officer; David Rosato, Chief Financial Officer; Kirk Walters, Corporate Development and Strategic Planning; and Jeff Tengel, President.
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 second quarter overview on Slide 2. We are pleased with our second quarter performance. Operating earnings of $135 million increased 24% on a year ago and operating return on average tangible common equity of 14.6%, improved 40 basis points. On a per common share basis, operating earnings were $0.34, up $0.02 year-over-year.
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