First Midwest Bancorp, Inc.

remind everyone that certain statements on today's call may be forward-looking in nature and are subject to certain risks, uncertainties, and other factors that could cause actual results or outcomes to differ from those discussed. The company refers you to its forward-looking statements legend in the earnings release and presentation slides. The company's risk factors are fully disclosed and discussed in the earnings release and presentation slides. provide appropriate comparisons. These non-GAAP measures are intended to assist investors' understanding of performance trends. Reconciliation of these numbers are contained within an appendix of the presentation. And now, to turn the call over to National CEO, Jim Ryan, for opening remarks.

Good morning.

We're pleased to be with you today to share details about our strong third quarter performance. The strength of our franchise remains evident in the results outlined on slide four. This quarter was like our last. Business as usual for Old National with growth in deposits, well-controlled funding costs, ample liquidity, and stable credit quality. We also saw slightly positive loan growth despite loan sales. We've reported an EPS of 49 cents for the quarter. Adjusted EPS was 51 cents per common share with adjusted ROA and ROATCE of 1.26% and 21% respectively. Importantly, we achieved significant year-over-year tangible book value growth. Our adjusted efficiency ratio remained under 50%. Total and core deposit balances were up 3% during the quarter as we compete effectively for new deposits. Our total cost of deposits was 161 basis points, and we maintained our deposit pricing discipline with a low 30% total deposit beta cycle to date. As a result, we beat our own margin expectations. Our credit quality remained stable. Net charge-offs were 24 basis points, 15 of which related to a single charge-off that we don't believe indicates a broader weakness in the portfolio. We remain diligent in managing the portfolio consistent with our past strong credit management practices. On the new business side, while our loan pipeline has declined, we continue to actively seek and win new loan business where we can develop full relationships, meet hurdle rate returns, and have a strong credit profile. Broadly, some competitors have seen significant appetite change, creating new opportunities for us. As a result, we expect the loan portfolio to grow modestly for the remainder of the year. We also continue to hire top revenue-generating talent selectively, albeit slower than previous quarters. With that, I will now turn the call over to Brendan to cover the quarter results in more detail.