Texas Capital Bancshares, Inc.

Good morning and thank you all for attending the Texas Capital Bank Shares Inc Q2 2025 earnings call. My name is Brika and I will be your moderator for today. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. I would now like to pass the conference over to your host, Joyce Linkakula, Head of Investor Relations at Texas Capital Bank Shares. Thank you, you may proceed.

Good morning, and thank you for joining us for TCBI's second quarter 2025 earnings conference call. I'm Jocelyn Kukulka, head of investor relations. Before we begin, please be aware this call will include forward-looking statements that are based on our current expectations of future results or events. Forward-looking statements are subject to both known and unknown risks and uncertainties that could cause actual results to differ materially from these statements. Our forward-looking statements are as of the date of this call, and we do not assume any obligation to update or revise them. Today's presentation will include certain non-GAAP metrics, including but not limited to adjusted operating metrics, adjusted earnings per share, and return on invested capital. For reconciliation of these non-GAAP measures to the corresponding GAAP measures, please refer to our earnings release and our website. Statements made on this call should be considered together with the cautionary statements and other information contained in today's earnings release our most recent annual report on Form 10-K, and subsequent filings with the SEC. We will refer to slides during today's presentation, which can be found along with a press release in the investor relations section of our website at TexasCapitalBank.com. Our speakers for the call today are Rob Holmes, Chairman, President, and CEO, and Matt Scurlock, CFO. At the conclusion of our prepared remarks, our operator will open up the call for Q&A. I'll now turn over the call to Rob for opening remarks.

Good morning. Our strong quarterly performance is the result of continued execution on our multi-year roadmap, which is delivering structurally higher and more sustainable earnings across a broad set of products and services with an operating model that is only beginning to deliver on its potential for future scale. Year-over-year quarterly earnings growth accelerated materially during the quarter, with adjusted total revenue increasing 16%. Adjusted net income to common up 100%. Adjusted earnings per share expanding 104%. An adjusted return on average assets of 1.02%, nearing the 1.1 goal we set out for 2025. Our now multi-quarter trends of significant new client acquisition again resulted in targeted balance sheet expansion, consistent with our strategic areas of focus. Commercial loans grew 5% link quarter and are up 13% year over year as we continue to effectively compete for and win holistic client relationships, which define the firm and for whom we can be relevant over the duration of their personal and business life cycles. This growth did not come at the expense of our peer leading capital ratios. As the firm continues to build tangible common equity to tangible assets, finishing the quarter at 10.04%, alongside tangible book value per share of $70.14, an all-time high for the firm. Significant investments in building our areas of focus have and will continue to drive increasingly elevated and granular revenue contributions. Earning the right to be our client's primary operating bank remains a foundational component of our company. with sustained success again displayed by another quarter of peer leading growth and treasury product fees, which increased 37% year over year to a record high for the firm. Quarterly treasury product fees have now increased eight of the last 12 quarters, demonstrating the sustainability of our trajectory and commitment to being a premier payments bank. Early and substantial investments in these products and services have returned the expected outcomes, which, as they scale, will continue to enhance profitability. In addition to focusing on core operating account growth, our Treasury platform is also contributing to expansion in longer duration, less rate-sensitive interest-bearing deposits, again evidenced this quarter by a 16 basis point increase in linked quarter net interest margin. Our unique and focused client service models continue to gain scale, making it easier for our clients to bring more of their business to us through tech-enabled connectivity and same-day account opening. Despite portions of the capital markets being essentially closed in April and early May, investment banking and trading income increased 43% quarter over quarter and 4% year over year, led by a rebound in capital markets activity and our steadily growing sales and trading platform. During the quarter, we also continue our equities build-out, further expanding our research coverage to 72 companies, adding key talent in equity capital markets, corporate access, and industry investment banking coverage, while also commencing trading operations near the end of the quarter. Our breadth of product offerings and integrated client solutions provided by industry experts align with client needs continues to be a competitive advantage driving pipeline growth, which will be further enhanced as these capabilities begin to scale during the second half of the year. As we close out this quarter, I want to take a moment to reflect on how far we have come. Over the past four years, we have executed a bold and deliberate transformation, reshaping our firm into a more agile, diversified, and client-centric institution. Through purposeful actions, scaling value-accreted businesses, enhancing client journeys, and driving operational efficiency, we have built a platform that is resilient, relevant, and positioned to perform through any market or rate cycle. This quarter's results are a testament to the strength of the platform. We have delivered solid performance across our businesses, maintained risk discipline, and continue to invest in innovation and talent. all of which engender confidence we will deliver the risk-adjusted returns consistent with our published targets. None of this would be possible without the dedication and hard work of our employees. Their commitment, creativity, and resilience have been the driving force behind our transformation and will ensure our future successes. Thank you again for your continued support and trust. I'll turn it over to Matt to discuss the financial results. Matt.