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    Nick Cucharale

    Director and Senior Equity Research Analyst who most recently served at Hovde group

    Nick Cucharale is a Director and Senior Equity Research Analyst who most recently served at Hovde Group, specializing in Northeast U.S. regional and community banks, where he covered institutions such as Community Bank System Inc. and others within the sector. Known for delivering actionable investment insights, he played a key role in the equity research team and regularly contributed to earnings calls and institutional research reports. Cucharale began his career at AllianceBernstein, advanced through roles at Piper Sandler as Vice President and Director, and joined Hovde Group in 2023 before moving to Endeavour Capital Advisors as Senior Analyst in 2024. He holds the CFA designation, an MBA from Columbia Business School, and brings expertise recognized by client-facing roles and leadership in financial analysis.

    Nick Cucharale's questions to PFC leadership

    Nick Cucharale's questions to PFC leadership • Q4 2023

    Question

    Inquired about the loan growth outlook, the competitive lending environment, and the company's progress and expected costs related to crossing the $10 billion asset threshold.

    Answer

    The lending environment is competitive but clients are cautious, leading to moderate growth expectations focused on existing clients. The company is in the early stages of preparing for the $10 billion asset mark, with total incremental annual costs estimated at $7 million, of which about $1 million has been incurred, with more planned for 2024.

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