Amalgamated Financial Corp.

Good morning, ladies and gentlemen, and welcome to the Amalgamated Financial Corporation First Quarter 2026 Earnings Conference Call. During today's presentation, all parties will be in a listen-only mode with Q&A to follow. A replay of the call and the accompanying slides are available on our Investor Relations website. Please review the forward-looking statements and non-gap disclosures on slide 2. As a reminder, this conference call is being recorded. I would now like to turn the call over to Mr. Jason Darby, Chief Financial Officer. Please go ahead, sir.

Thank you, Operator, and good morning, everyone. We appreciate your participation in our earnings call. With me today is Priscilla Sims-Brown, our President and Chief Executive Officer. Additionally, Sam Brown, our Chief Banking Officer, is here for the Q&A portion of today's call. We'll look forward to your questions and try to limit repeating details you've already reviewed in the earnings materials. I'll now turn the call over to Priscilla.

Good morning, everyone, and thank you for joining us. I want to begin by thanking our colleagues across the bank, as always, for their continued focus and execution, and our customers and shareholders for their trust and partnership. Overall, we delivered a very strong first quarter that underscores the strength of our balance sheet and purpose-driven model. We grew net revenue by 9.7% to $93.4 million. We expanded net interest margin, nine basis points, to 3.75 percent, increased on balance sheet deposits $229 million to $8.2 billion and maintained strong tier one capital at above 9.3 percent. Before commenting on the additional reserves we took this quarter, I'd like to dive into our results just a bit deeper. Our deposit franchise continued to perform exceptionally well. with broad-based strength across our core segments. Political deposits increased $133 million to $1.9 billion as the midterm elections approach. The labor franchise generated $106 million of growth. And not-for-profit deposits grew $115 million. Deposit mix was also improved. with average non-interest bearing deposits increasing to 41% of total deposits. Finally, super core deposits are approaching 60% of total on balance sheet deposits, demonstrating the stable, durable funding that is unique to Amalgamated. We chose to keep more deposits on balance sheet this quarter to drive core net interest income. as the portfolio repositioning from selling lower-yielding securities is largely behind us. We plan to manage through the midterm election cycle with sufficient off-balance sheet deposits to absorb expected political deposit outflows after the elections, which should result in no borrowings post-election. Loan growth was solid, with net loans up approximately $66 million, or 1.3%, led by strong commercial real estate lending production. Loans in our growth mode categories, C&I, commercial real estate, and multifamily, grew $109 million, or 3.3%, reflecting solid originations, healthy mission-aligned demand, and continued credit discipline. Our PACE portfolio also expanded, with total assessments up $15.8 million, or 1.2%, and bringing our PACE portfolio to approximately $1.3 billion. Now let me briefly address the additional reserves we took in the quarter, and Jason will have some further details as well. Included in our results was an incremental $9.2 million provision tied to a single borrower multi-family relationship that moved to non-accrual during the quarter. The underlying collateral supports our position and we are aggressively pursuing resolution options to preserve and optimize value. We view this as an isolated event with one borrower which does not change our performance outlook. The reserve bill impacted earnings per share by 23 cents and yet we delivered solid core earnings of 80 cents per share. With the momentum we saw in the quarter, we are focused on executing and delivering on our revenue and earnings targets over the balance of the year. And you will see our optimism when Jason discusses our guidance increase in just a few minutes. Looking ahead, our strategy builds on who we are and why customers choose Amalgamated. Mission-focused organizations and individuals who seek confidence that their capital is responsibly aligned with a partner who shares their purpose. That focus resonates nationally with customers in every state, enabling relationship-based banking and efficient growth within our model. We see real opportunity to expand thoughtfully and consolidate market share in our core segments as we continue investing in people, infrastructure, and technology to support disciplined, profitable growth, including progressing past $10 billion in assets. Now I'll turn the call over to Jason.