Popular, Inc.

Good morning and thank you for joining us. With us on the call today is our President and CEO, Javier Ferrer, our CFO, Jorge Garcia,

and our CRO, Lidio Soriano. They will review our results for the third quarter and then answer your questions. Other members of our management team will also be available during the Q&A session. Before we begin, I would like to remind you that during today's call, we may make forward-looking statements regarding POPULAR, such as projections of revenue, earnings, credit quality, expenses, taxes, and capital structure, as well as statements regarding POPULAR's plans and objectives. These statements are based on management's current expectations and are subject to risks and uncertainties. Factors that can cause actual results to differ materially from these forward-looking statements are set forth within today's earnings release and our SEC filings. You may find today's press release and our SEC filings on our webpage at popular.com. I now turn the call over to our President and CEO, Javier Ferrer.

Thank you, Paul, and good morning, everyone. Starting on slide three, we share a few highlights that reflect our strong operating performance in the third quarter. We reported net income of $211 million, an EPS of $3.15, an increase of $1 million and 6 cents per share, respectively. Our results were driven by higher revenues and expanding net interest margin, strong loan growth, and importantly, stable customer deposit balances. Our credit metrics were impacted by two large commercial loans, which were related to isolated circumstances. that do not reflect broader credit quality concerns. As Leo will discuss in more detail in his remarks, I note that excluding these two relationships, credit metrics remain stable. For the second quarter in a row, we have demonstrated progress from our efforts to achieve sustainable returns above 12 percent this year and towards our longer-term 14 percent objective. Please turn to slide four. As of the end of the third quarter, business activity in Puerto Rico continued to be solid, as reflected by favorable trends in total employment, consumer spending, tourism, and other key economic data. The unemployment rate of 5.6% continues to hover around all time lows. Consumer spending has been resilient and remains healthy. Combined credit and debit card sales for Banco Popular customers increased by approximately 5% compared to the third quarter of 2024. Home purchase activity continues to be strong, as demonstrated by the $129 million increase in mortgage balances at Banco Popular during the quarter. Momentum in the construction sector has been solid, with both public and private investment fueling higher employment levels and cement sales. We are optimistic that these trends will persist, given the backlog of obligated federal disaster recovery funds, announced real estate and tourism development projects, as well as the renewed focus on reshoring by global manufacturing companies. One example of this is Amgen's recently announced 650 million manufacturing network expansion, which is expected to create roughly 750 direct new jobs in Puerto Rico. Puerto Rico is also well positioned given its strategic geographic location, considering current geopolitical focus in the Caribbean region. The tourism and hospitality sector continues to be a source of strength for the local economy. This summer, the sector benefited from Bad Bunny's 31-night concert residency at the Coliseum in San Juan, right next to our Popular Center complex. This was more than just a series of concerts. also featured Puerto Rico as a destination, highlighting our music, natural beauties, and culinary offerings. The celebration of our culture generated significant media exposure for the island globally and led to a substantial increase in tourism activity during what is normally a seasonally slow period of the year. Please turn to slide five. I would like to comment on our new strategic framework and transformation progress. Our strategy centers on three objectives. First, be the number one bank for our customers by deepening relationships, earning trust, delivering value across all channels, and providing exceptional service. Leveraging our very strong primacy and satisfaction scores in Puerto Rico, we are focused on advancing digital and payment solutions to further grow engagement. Second, be simple and efficient. by working collaboratively, streamlining operations, and reducing costs. We are committed to making our processes simpler and more effective to deliver superior solutions for our customers. And finally, be a top-performing bank by attracting and retaining top talent and converting customer and operational success into shareholder value with a commitment to generating a sustainable 14% ROPSI over the long term. This framework, simple yet powerful, guides our transformation, which continues to show steady and novel progress. We are investing in seamless, secure banking solutions, expanding service channels, and modernizing branches and digital platforms to provide our customers with the flexibility to connect with Popular through the channel that best fits their needs We plan to extend these digital capabilities to more products to further improve online and mobile experiences and support future growth. Recent initiatives include the launch of a fully online personal and credit card loan origination process in Puerto Rico and the Virgin Islands, and the expansion of digital deposit products in the US mainland. On the commercial side, we are improving cash management and credit delivery for small and mid-sized businesses. We are pleased with the progress we have made so far in our transformation and are convinced that these efforts will continue to unlock growth opportunities and efficiencies to drive sustained financial performance. I will now turn the call over to Jorge for more details on our financial results. Jorge? Thank you, Javier.