Brookline Bancorp, Inc. (BRKL) Earnings Call Transcript & Summary

Welcome to the 2021 Annual Meeting for Brookline Bancorp, Inc. Our host for today's call is Michael McCurdy. [Operator Instructions] I'll turn the call over to Michael McCurdy.

Good morning. As Chief Risk Officer, General Counsel and Corporate Secretary of Brookline Bancorp, Inc., and on behalf of our Board of Directors and management, I'd like to welcome you to our 2021 Annual Meeting of Stockholders. We thank you for your continued support of the company. It is now 11:02 a.m., and in accordance with the notice of meeting, I would like to call to order the 2021 Annual Meeting of Stockholders. It is a pleasure to welcome you today. I will be the Chairman of this meeting. I will go through the business of this meeting first, and we will take your questions at the end of the meeting. Please note, this meeting is being recorded. For those of you who have not voted your shares before this meeting, the polls are now open, and you may vote your shares electronically using the Vote Now button on your screen. Stockholders who have already voted and do not wish to change their vote do not need to take any further action. The business before this meeting is described in our notice and proxy statement, a copy of which has been mailed on or about April 1, 2021, to all of our stockholders of record as of the close of business on March 19, 2021. Before proceeding to the formal business, I would like to begin by introducing the directors of the company who are all in attendance by phone or in person: David Chapin, Joanne Chang, John Doyle, Jr., Margaret Boles Fitzgerald, John Hackett, John Hall, Tom -- Thomas Hollister, Bogdan Nowak, Paul Perrault, John Pereira, Charles Peck, Merrill Sherman, Peter Wilde and our Chairman, Joseph Slotnik, who is here in the meeting room. Next, I would like to recognize the members of our management team who are in attendance by phone, including our President and Chief Executive Officer, Paul Perrault; our Chief Financial Officer, Carl Carlson; and our Chief Credit Officer, Robert Rose. Our outside securities council, Goodwin Procter, is represented virtually at this meeting by Samantha Kirby. Our independent accountant, KPMG, are represented virtually at this meeting by Mary Crealese. And our transfer agent, Broadridge Financial Solutions, is represented virtually at this meeting by [ Jennifer Borden ], who will be serving as the Inspector of Election. A few comments on the meeting procedures. A link to the rules of conduct for the annual meeting is on our virtual meeting page. As a reminder, stockholders attending today's annual meeting can vote their shares online now through the close of the polls by clicking the Vote Here (sic) [ Now ] button on your screen. If you previously cast your vote, do not wish to make any changes -- if you have previously cast your vote and do not wish to make any changes, your vote will be recorded as cast, and you do not need to do anything further. The Board of Directors fixed March 19, 2021, as the record date for determining the shares of the company's common stock entitled to vote at this meeting. As Corporate Secretary, I confirm that the meeting was called and proper notice was given to all stockholders of record. A copy of the notice of annual meeting and affidavit are on file. The Board of Directors has appointed [ Jennifer Borden ] as independent Inspector of Election for this meeting, and she will tabulate the results of the voting. The Inspector of Election has signed the oath of office, which will be filed with the minutes of this meeting. First, the Inspector of Elections has confirmed that a quorum is present, and we are qualified to act on all matters set forth in the annual meeting. And with the meeting convened and a quorum present, we will now move the 4 proposals before the annual meeting. Proposal #1. The first item of business is to consider and vote on the proposal to elect the 5 nominees named in the proxy statement to serve for a 3-year term and until their respective successors are duly elected and qualified. The Board of Directors have nominated John J. Doyle, Jr., Thomas J. Hollister, Charles H. Peck, Paul A. Perrault and Joseph J. Slotnik for election as directors of the company. Proposal #2. The second item of business is to ratify the appointment of KPMG as the company's independent registered public accounting firm for the year ending December 31, 2021. Proposal #3. The third item of business is to hold a nonbinding advisory vote on the compensation of our named executive officers. And proposal #4. The fourth item of business is to hold a vote on the adoption of the 2021 Brookline Bancorp, Inc. Stock Option and Incentive Plan. Before I report the preliminary vote results for these 4 proposals, I will pause for a moment to allow anyone who has not cast their votes electronically to do so now. [Voting]

It seems that all those desiring to vote have cast their vote. I therefore now declare the voting polls closed at 11:06 a.m. Based on the preliminary voting results, each proposal has now passed with more than a majority vote. I am pleased to announce that the 5 directors named in the proxy statement have been elected for a 3-year term, and the other 3 proposals have passed as the Board recommended. The final results will be included in the minutes of this meeting and will also be included in our Form 8-K filed with the Securities and Exchange Commission within 4 business days. We have now completed the formal portion of our agenda. There being no further business before this meeting, this concludes the official business portion of the meeting. The 2021 Brookline Bancorp Annual Meeting is now adjourned, and we will now have some time for questions and answers.

[Operator Instructions] There are no further questions at this time. Mr. McCurdy, I turn the call back over to you.

Again, thank you for your time and attendance today. All of us at Brookline Bancorp wish you and your families all the best during these times. And we will continue to serve our communities as we all work through this time together. Thank you.