First Hawaiian, Inc.

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Thank you, Jonathan, and thank you, everyone, for joining us as we review our financial results for the first quarter of 2025. With me today are Bob Harrison, Chairman, President, and CEO, and Lee Nakamura, our Chief Risk Officer. We have prepared a slide presentation that we will 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.

Hello, everyone. I'll start by giving a quick overview of the local economy. Overall, Hawaii economy remains stable, but uncertainty is increasing due to recent weakness around international rivals and the lack of clarity about consumer confidence. Statewide seasonally adjusted unemployment rate remained stable in February at 3% compared to the national unemployment rate of 4.1%. Through February, total visitor arrivals were up 1% and spending was up 4.5% compared to 2024 levels. Maui has seen the largest increases in arrivals and spend among all the islands. Also, the housing market remains stable. Turning to slide two, we continue to perform well in the first quarter. Net interest income increased versus the prior quarter. Non-interest income was stable. and expenses remained well controlled. Declining deposit costs and the fourth quarter investment portfolio restructuring helped drive a five basis point increase in NIM. And then finally, credit quality remained excellent and we added to the reserve due to increased macroeconomic uncertainty. Turning to slide three, the balance sheet remained solid and we were well positioned to support our customers. We continue to be well capitalized with ample liquidity. During the first quarter, we repurchased about 974,000 shares at a total cost of 25 million. And we have $75 million of remaining authorization under the approved 2025 stock repurchase plan. Turning to slide four, total loans declined $115 million or 0.8% from the prior quarter The decline was primarily due to commercial real estate loans, where we experienced both scheduled and early payoffs and a few large credits. Growth within the CNI portfolio was partially offset by the normal fluctuations in dealer flooring, which declined by $28 million. Now I'll turn it over to Jamie.