MidWestOne Financial Group, Inc.

Morning ladies and gentlemen and welcome to the Midwest One Financial Group Incorporated second quarter 2025 earnings call. During today's presentation all parties will be in a listen only mode. Following the presentation the conference will be open for questions with instructions to follow at that time. As a reminder this call is being recorded. I would now like to turn the call over to Barry Ray, Chief Financial Officer of Midwest One Financial Group.

Thank you everyone for joining us today. We appreciate your participation in our earnings conference call this morning. With me here on the call are Chip Reese, our Chief Executive Officer, Glenn DeBasher, our President and Chief Operating Officer, and Gary Simms, our Chief Credit Officer. Following the conclusion of today's conference, a replay of this call will be available on our website. Additionally, a slide deck to complement today's presentation is available on the Investor Relations section of our website. Before we begin, let me remind everyone on the call that this presentation contains forward-looking statements relating to the financial condition, results of operations, and business of Midwest One Financial Group, Inc. Forward-looking statements generally include words such as believes, expects, anticipates, and other similar expressions. Actual results could differ materially from those indicated. Among the important factors that could cause actual results to differ materially are interest rates, changes in the mix of the company's business, competitive pressures, general economic conditions, and the risk factors detailed in the company's periodic reports and registration statements filed with the Securities and Exchange Commission. Midwest One Financial Group, Inc. undertakes no obligation to publicly revise or update these forward-looking statements to reflect events or circumstances after the date of this presentation. I would now like to turn the call over to Chip.

Thank you, Barry. Good morning, and we appreciate everyone joining for this quarter's call. Today, I'll provide a high-level overview of our second quarter results, as well as highlights regarding the continued execution of our strategic initiatives. Lynn will provide an update on our lives of business, and Barry will conclude with a more detailed review of the second quarter. Let's start first with the progress. Due to the expertise of our Midwest Club Bank team, we continue to execute well on our 2025 strategic initiatives, Fiscal and balance sheet management followed low growth of 7.4% and back book loan repricing led to a 13 basis point expansion in our tax equivalent net interest margin and 5% linked quarter net interest income growth. Based upon third quarter pipelines and business activity, mid-single business loan growth remains our expectation for the second half of 2025. Our relationship focused key income businesses which are part of our strategic plan roadmap, performed well in the second quarter, with wealth management revenues up 5% late quarter and SBA administrations and gain-on-sale exceeding expectations. We also remain committed to building out the talent base to become a consistent, high-performing company. The second quarter saw significant new commercial banker hires in the Twin Cities and Denver and wealth management hires in the Twin Cities. Glenn will speak further about these initiatives and the expected organizational impact. Even as we invest for the long term, we remain focused on our expense discipline, and we are pleased with our second quarter non-interest expense results. Asset quality and net income were impacted by a single $24 million Twin Cities suburban CRE office loan, originated in June 2022 and previously classified, that moves to non-accrual in the quarter. A receiver has been put in place, resolution actions have commenced, and a specific reserve established. This increased our allowance for credit losses ratios to 1.50% and significantly increased our quarterly credit loss expense. Outside this loan, asset quality metrics generally improved in the quarter, with the credit-added asset ratio increasing 32 basis points and net charge-offs of only 2 basis points. We completed a third-party review of CRE office loans greater than $1 million, and there is 100% risk-weighting concurrence. We view this loan, while large, as an isolated issue. Thank you to our team members who continue to take outstanding care of our customers and welcome new relationships to Midwest One. I'm encouraged by the strength we are building in our balance sheet, our capital position, and our underlying earnings momentum. which envisioned this company well for the remainder of 2025. Now I'd like to turn the call over to Len.