FirstSun Capital Bancorp

If you have a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star followed by two. Also, as a reminder, this call may be recorded. I'd now like to turn the call over to Ed Jax, First Sons Director of Investor Relations and Business Development. You may begin.

Thank you and good morning. I'm joined today by Neil Arnold, our Chief Executive Officer and President, Rob Caffera, our Chief Financial Officer and Jennifer Norris, our Chief Credit Officer. We will start the call with some brief remarks to highlight a few items of interest and then move into questions. Our comments will reference the earnings release and investor presentation, which you will find on our website under the investor relations section. During this call, we may make remarks about future expectations, plans and prospects for the company that constitute forward looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward looking statements as a result of various important factors, including those discussed in our annual report on form 10K, which is on file with the SEC. I will now turn the call over to Neil Arnold.

Thank you, Ed. We are very pleased with our strong financial results here in the second quarter. Our consistent focus on delivering value added solutions across the footprint continues to be the driver behind our growth and strong performance. This quarter, we achieved net income of $26.4 million, representing earnings per share of 93 cents and a 128 ROA. This quarter was highlighted by exceptional deposit growth with deposits of 13% annualized, a strong net interest margin at 4.07 for the quarter, and total revenue growth approximating 10%. I'll note that this is our second quarter in a row with double digit deposit growth. We're also very pleased with our service fee revenue performance as we saw our revenue mix up meaningfully by over 300 basis points compared to last quarter and almost 26% of total revenues. Our success is a testament to our focus on relationship-based banking across all of our business lines. We achieved revenue growth this quarter while maintaining our efficiency ratio at 64.5%, which is slightly lower than the prior quarter. Our focus remains on delivering positive operating leverage and long-term sustainable growth. We believe we're making the right investments to position us favorably moving forward. And to that end, we've realized 3.3 million of positive operating leverage so far this year as compared to last year. With our strategic focus on a balanced mix of service fee business offerings, we continue to build upon our portfolio products and services supporting this banking model. This quarter's service fee income results demonstrate our focus and our continued to look for opportunities to achieve a stronger mix of revenue on the fee income side in excess of 25%. On the asset quality side, we are not seeing any pervasive credit issues in any particular sector or geography emerging within our loan portfolio. We see that as somewhat a function of the nature of our customer base. Having said this, we did experience an elevated level of charge-offs during the second quarter driven by a small number of C&I credits. One credit of note was in the telecom space with performance challenges ultimately linked to management missteps and another credit was one in the public finance space, which was a result of declining enrollment trends. Our teams remain diligently focused on the administrative side to ensure we maintain historically strong asset quality performance. I continue to be excited about our significant growth opportunities across all of our southwestern and western markets, including our newer California markets. We're seeing increased opportunities to deepen existing relationships while attracting new clients who value our relationship-based approach. Our teams and our approach will continue to be what differentiates us from the competition. While we've seen several shifts in shorter-term economic prospects on the macro level this year, we expect a resilient U.S. economy will prevail. Our strong and diverse balance sheet, our solid capital position, and our sound credit and risk management programs will enable us to continue to deliver responsible growth and strong financial results. Now I'll turn it over to Rob for a more detailed review of our financial results.