First Interstate BancSystem, Inc.

Good morning, ladies and gentlemen, and welcome to the first Interstate Bank System, Inc. third quarter earnings call. At this time, all lines are in listen-only mode. For the presentation, we'll conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Thursday, October 26th. 2023. I would now like to turn the conference over to Andrea Walton. Please go ahead.

Thank you. Good morning. Thank you for joining us for our third quarter earnings conference call. As we begin, please note that the information provided during this call will contain forward-looking statements. Actual results or outcomes may differ materially from those expressed by those statements. I'd like to direct all listeners to read the cautionary note regarding forward-looking statements contained in our most recent annual report on Form 10-K filed with the SEC and in our earnings release, as well as the risk factors identified in the annual report in our more recent periodic reports filed with the SEC. Relevant factors that could cause actual results to differ materially from any forward-looking statements are included in the earnings release and in our SEC filings. The company does not undertake to update any of the forward-looking statements made today. A copy of our earnings release, which contains non-GAAP financial measures, is available on our website at fidk.com. Information regarding our use of the non-GAAP financial measures may be found in the body of the earnings release, and a reconciliation to their most directly comparable GAAP financial measures is included at the end of the earnings release for your reference. Joining us for management this morning are Kevin Riley, our Chief Executive Officer, and Marcie Mutch, our Chief Financial Officer, along with other members of our management team. At this time, I'll turn the call over to Kevin Riley. Kevin?

Thanks, Andrea. Good morning, and thanks again to all of you for joining us on our call today. Again, this quarter, along with our earnings release, we have published an updated investor presentation that has some additional disclosures, which we believe will be helpful. The presentation can be accessed on our Investors Relations website, and if you have not downloaded a copy yet, I would encourage you to do so. I'm going to start today by providing an overview of the major highlights of the quarter, and then I'll turn the call over to Marci to provide more details on our financials. In this challenging banking environment, First Interstate draws strength from our franchise value and from the robust, flexible balance sheet we have carefully built. We have seen stabilization on both sides of the balance sheet over the past quarter, and we continue to carry no broker deposits. We have reduced non-interest expense. We have increased spreads on new loans. We have paid down borrowings. In short, we have controlled the things that are in our power to control and positioned the bank to respond to appropriate opportunities when they arise. In the third quarter, we generated 72.7 million in net income or 70 cents per share. This is an increase of 8.5% from the previous quarter. We achieved modest deposit growth in the period and continue to see improved risk-adjusted spreads on new loan production. The new loan production rate, excluding draws on construction lines, increased roughly 40 basis points from the previous quarter to around 7.5%. We have achieved stability in our net interest margin and generated improvements in both asset quality and capital ratios. With that, I'll turn the call over to Marcie to provide some additional details around our third quarter results. Go ahead, Marcie.