First Hawaiian, Inc.

Good day. Thank you for standing by. Welcome to the first Hawaiian Inc. Q1 2022 earnings conference call. This time, I'll participate on a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press on your telephone. Please be advised that the call is being recorded. If you require any further assistance, please press star zero. I would now like to hand the conference over to your host today, Kevin Asayama, Investor Relations Manager.

Thank you, Justin. And thank you, everyone, for joining us as we review our financial results for the first quarter of 2022. With me today are Bob Harrison, Chairman, President, and CEO, and Ralph Misik, Chief Risk Officer and Interim CFO. We have prepared a slide presentation that we'll refer to in our remarks today. The presentation is available for downloading and viewing on our website at fhb.com in the investor relations section. During today's call, we will be making forward-looking statements, so please refer to slide one for our safe harbor statement. We may also discuss certain non-GAAP financial measures. The appendix to this presentation contains reconciliations of these non-GAAP financial measurements to the most directly comparable GAAP measurements. And now I'll turn the call over to Bob.

Thank you, Kevin. Happy Earth Day, everyone. I'll start off by saying that the outlook for the Hawaii economy is improving as COVID becomes less disrupted. COVID-related restrictions for domestic travelers have ended, and the state's indoor mask mandate has been lifted. So our local economists and travel industry leaders are predicting very strong visitor arrivals this summer, as well as a return of Japanese visitors with the recent easing of travel restrictions. Turning to the first quarter, our results benefited from our asset-sensitive balance sheet and the balance sheet actions we took in the fourth quarter. Net interest margin expanded, our liquidity position and capital levels remain strong, and our credit quality is excellent. Turning to slide two, we had a nice quarter to start the year, reporting income of $57.7 million, earnings per share of $0.45, and a return on average tangible common equity of 15.08%. The board maintained the dividend at 26 cents for the quarter. We had some nice deposit growth in the quarter and saw improvement in our NIM. Asset quality was excellent, and we recorded a reserve release of 5.7 million. Risk-based capital levels were strong and improved over the quarter, and common equity tier one increased to 12.27%. As Ralph will expand on, the balance sheet is well positioned for a rising rate environment. Ralph?