Pinnacle Financial Partners, Inc.

Good morning ladies and gentlemen and thank you for your patience. Your conference will begin shortly. Once again, thank you for your patience. The conference will begin shortly. Good morning, everyone, and welcome to the Pinnacle Financial Partners fourth quarter 2023 earnings call. Hosting the call today from Pinnacle Financial Partners is Mr. Terry Turner, Chief Executive Officer, and Mr. Harold Carpenter, Chief Financial Officer. Please note Pinnacle's earnings release and this morning's presentation are available on the Investor Relations page of their website at www.pnfp.com. Today's call is being recorded and will be available for replay on Pinnacle Financial's website for the next 90 days. At this time, all participants have been placed on a listen-only mode. The floor will be open for your questions following the presentation. If you'd like to ask a question at that time, please press star 1 on your touchtone phone. Analysts will be given preference during the Q&A. We ask that you please pick up your headset if you're to allow optimum sound quality. During the presentation, we may make comments which may constitute forward-looking statements. All forward-looking statements are subject to risks, uncertainties, and other facts that may cause actual results, performance, or achievements of Pinnacle Financial to differ materially from any results expressed or implied by such forward-looking statements. Many of such factors are beyond Pinnacle Financial's ability to control or predict, and listeners are cautioned to not put undue reliance on such forward-looking statements. The more detailed description of these and other risks contained in Pinnacle Financial's annual report on Form 10-K for the year ended December 31, 2022, and its subsequently filed quarterly reports. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this presentation, whether as a result of new information, future events, or otherwise. In addition, these remarks may include certain non-GAAP financial measures as defined by SEC Regulation G. A presentation of the most directly comparable GAAP financial measures and a reconciliation of non-GAAP measures to the comparable GAAP measures will be available on Pinnacle Financial's website at www.pnfp.com. With that, I'm now going to turn the presentation over to Mr. Terry Turner, Pinnacle's President and CEO.

Thank you, Matthew. Good morning.

Thank you for joining us this morning for the fourth quarter 2023 earnings call. Obviously, we'll focus on performance in the fourth quarter of 23 and our outlook for 2024, both of which I think are very good. We always start with the shareholder value dashboard on a GAAP basis, and then as adjusted, which is really what I focus on in trying to manage the firm. There's no doubt 2023 presented one of the most difficult operating environments for banks since the Great Recession. I expect few, if any, banks were able to completely outrun the rain environment and its impact on revenue and earnings growth in 2023. But despite the difficult operating environment, we grew our tangible book value 14.8% in 2023 and produced a 20% total shareholder return. Our unusual approach of investing in our business, particularly in terms of acquiring new talent, even during difficult times, is one of the primary reasons we've been able to continue to take share and grow balance sheet volumes, which, of course, has accounted for our rapid and reliable growth in revenue and earnings, which we believe accounts for our extraordinary total shareholder return over nearly two and a half decades now. We've said for some time that it's our expectation that credit metrics have to normalize. It's impossible to operate over time at the very low level of problem loans that we've enjoyed over the last two years. We saw a little bit of that in the fourth quarter, but NPAs and classified assets still remain below our five-year median, which is itself very low. And net charge-offs during the quarter were just 17 basis points. So fourth quarter of 23 was an excellent quarter for us, particularly on those metrics that point to future shareholder value creation And so with that in mind, let me turn it over to Harold for a more in-depth look at the quarter.