Independent Bank Group, Inc

Greetings. Welcome to Independent Bank Group's third quarter 2022 earnings call. At this time, all participants are in listen-only mode. A question and answer session will follow the formal presentation. If anyone today should require operator assistance during the conference, please press star zero on your telephone keypad. Please note that this conference is being recorded. At this time, I'll now turn the conference over to Ankita Puri, Executive Vice President and Chief Legal Officer. Ankita, you may begin. Thank you.

Good morning and welcome to the Independent Bank Group third quarter 2022 earnings call. We appreciate you joining us. The related earnings press release and investor presentation can be accessed on our website at ir.ifinancial.com. I would like to remind you that remarks made today may include forward-looking statements. Those statements are subject to risks and uncertainties that could cause actual and expected results to differ. We intend such statements to be covered by Safe Harbor provisions for forward-looking statements. Please see page five of the text in the release or page two of the slide presentation for our Safe Harbor statement. All comments made during today's call are subject to that statement. Please note that if we give guidance about future results, that guidance is a statement of management's belief at the time the statement is made and we assume no obligation to publicly update guidance. In this call, we will discuss several financial measures considered to be non-GAAP under the SEC's rules. Reconciliations of these financial measures to the most directly comparable GAAP financial measures are included in our release. I'm joined this morning by our Chairman and Chief Executive Officer, David Brooks, our Vice Chairman, Dan Brooks, and our Chief Financial Officer, Paul Langdale. At the end of their remarks, David will open the call to questions. With that, I will turn it over to David.

Thank you, Ankita. Good morning, everyone, and thanks for joining the call today. For the third quarter, we announced adjusted earnings of $1.33 per diluted share and strong loan growth of 10% annualized for the quarter, excluding mortgage warehouse and PPP. Our markets across Texas and Colorado are exhibiting resilience. in the face of macroeconomic uncertainty, and we continue to see healthy demand from relationship borrowers across our footprint. We were pleased to see a continued increase in net interest income during the quarter as floating rate loans adjust and our short duration CRE loans begin to reprice. Net loan growth was $326 million during the quarter, but we saw nearly three times that amount in total new production. At the same time, we have been able to reprice loans upward while effectively playing both offense and defense in managing the funding side of the balance sheet. As Dan will discuss, credit trends are stable, and we remain cautiously optimistic about the ability of our four resilient markets to outperform in what is shaping up to be a complex and dynamic macro environment. With that overview, I'll turn the call over to Paul to discuss the financials.