Independent Bank Group, Inc

I will now turn the call over to Ankita Puri, Executive Vice President and Chief Legal Officer.

Good morning and welcome to the Independent Bank Group's second quarter 2023 earnings call. We appreciate you joining us. The related earnings press release and investor presentation can be accessed on our website at ir.ifinancials.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 beliefs 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. Second quarter adjusted earnings totaled $33.7 billion, or $0.82 per diluted share. During the quarter, NII was impacted by higher deposit costs as the expected terminal rate rose more than expected and non-interest-bearing deposits shifted into interest-bearing alternatives. As Paul will discuss, during the second quarter, we strengthened our balance sheet by reducing our loan-to-deposit ratio to 95%, reducing FHOB advances by $925 million, expanding our contingent liquidity availability, and commencing the repayment of our holding company line of credit. These efforts helped optimize our earnings trajectory on a go-forward basis and decrease risk in an uncertain environment. During the quarter, we were pleased to see that a rebound in our mortgage origination volume bolstered our fee income, while our other fee lines remain resilient. In addition, our focus on expense discipline further reduced adjusted non-interest expenses, and we continue to pursue the most efficient gearing for the current environment. As Dan will discuss, credit quality remains excellent, with low non-performing assets and net recoveries of three basis points annualized for the quarter. While we remain watchful for any signs of stress in our markets, credit trends indicate that we continue to be supported by the strong foundation of conservative underwriting that we have maintained over these three decades. Capital ratios ended the quarter in a healthy position as well, with a Tier 1 capital ratio of 10.13%, a total capital ratio of 11.95%, and a TCE ratio of 7.37% at quarter end. And with that overview, I'll turn it over to Paul to give a few more details on the financials.