The Bancorp, Inc.

you require immediate assistance, please press star zero for the operator. This call is being recorded on Friday, April 25, 2025. I would now like to turn the conference over to Andres Viraslav. Please go ahead, sir.

Thank you, operator. Good morning, and thank you for joining us today for the Bancorp's first quarter 2025 financial results conference call. On the call with me today are Damian Kozlowski, Chief Executive Officer, and Marty Egan, our Interim Chief Financial Officer. This morning's call is being webcast on our website at www.thebankcorp.com. There will be a replay of the call available via webcast on our website beginning at approximately 12 p.m. Eastern time today. The dial-in for the replay is 1-888-660-6264 with passcode of 80395. Before I turn the call over to Damian, I would like to remind everyone that our comments and responses to questions reflect management's view as of today, April 25, 2025. Yesterday, we issued our first quarter earnings release and updated investor presentation. Both are available on our investor relations website. We will make certain forward-looking statements on this call. These statements are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties that could cause actual results to differ materially from those expectations and assumptions we mentioned today. These factors and uncertainties are discussed in our reports and filings with the Securities and Exchange Commission. In addition, we'll be referring to certain non-GAAP financial measures during this call. Additional details and reconciliations of GAAP to adjusted non-GAAP financial measures are in the earnings release and the investor presentation. Please note that the Bancorp undertakes no obligation to publicly release the results of any revisions to forward-looking statements which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Now I'd like to turn the call over to the Bancorp's Chief Executive Officer, Damian Kozlowski. Damian?

Thank you, Andres. Good morning, everyone. The Bancorp earned $1.19 per diluted share in the first quarter, reflecting a 12% increase over the first quarter of 24. Net income increased 1% between these periods, while outstanding shares were reduced as a result of increased repurchases that occurred during 2024. Our FinTech Solutions Group continues to show significant momentum with GDV increasing 18% year-over-year and total fees growing 26%. Credit sponsorship balances grew to $574 million, or 26% quarter-over-quarter, and we expect these balances to grow to over a billion by year-end 25. We believe that growth in the first quarter was slowed by the impact of tax refunds, and we expect greater growth in balances over the next three quarters. While loan balances grew 17% year-over-year, net interest income was down 3%. Loan balances excluding consumer fintech loans grew 6%. Net interest income reflected, in part, the impact of lower rate environment in the latter part of 24 on our loan interest income, which was down 5%. The impact of lower rates was mitigated by our purchase of $900 million of fixed rate bonds in April 2024 and excess deposit balances held in Fed funds. Those bond purchases and other fixed rate strategies have reduced our assets sensitivity significantly. We continue to focus on reducing substandard assets in our Rebel portfolio. Respective Rebel substandard and special mentioned loans at March 31, 25 were down 1% and 20% compared to the prior quarter end. We continue to believe that we are at the peak of substandard assets and believe we will show progress in reducing substandard assets over the next several quarters. Lastly, based on the momentum in our FinTech Solutions Group and our reduced asset sensitivity, we are confirming guidance of 525 per diluted share for 25. EPS does not include the impact of 150 million of stock buybacks authorized for 2025. I now turn the call over to our interim CFO, Marty Egan.