Mar 15, 2023 / 05:10PM GMT
Bill Carcache - Wolfe Research, LLC - Research Analyst
With -- next with Perry Beberman, the CFO of Bread Financial. Perry has over 30 years of experience. Most of that time has been spent at Bank of America and MBNA before Bread. Great to be sitting down with you, Perry.
Perry S. Beberman - Bread Financial Holdings, Inc. - Executive VP & CFO
Good to sit down with you.
Questions and Answers:
Bill Carcache - Wolfe Research, LLC - Research AnalystMaybe you can start off by telling us a little bit about what you're seeing in the quarter and the aftermath of what's happened with SIVB. Do you have any financial outlook updates that you'd like to share with us?
Perry S. Beberman - Bread Financial Holdings, Inc. - Executive VP & CFO
Sure. So the first quarter for us at Bread Financial has a few moving parts in it. First, in the quarter, everyone is aware that we have sold the BJ's portfolio. And that's, call it, nearly $2.5 billion. So that comes out of the