Third Coast Bancshares, Inc.

Greetings and welcome to the Third Coast Bank Shares first quarter 2023 results conference call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Natalie Harrison, with Denard Laskar Investor Relations. Thank you, Natalie. You may begin.

Thank you, Operator, and good morning, everyone. We appreciate you joining us for Third Coast Bank Shares conference call and webcast to review our first quarter 2023 results. With me today is Bart Carraway, Chairman, President, and Chief Executive Officer, John McWhorter, Chief Financial Officer, and Audrey Duncan, Chief Credit Officer. First, a few housekeeping items. There will be a replay of today's call, and it will be available by webcast on the Investors section of our website. at ir.tcbssb.com. There will also be a telephonic replay available until May 4, 2023, and more information on how to access these replay features was included in yesterday's earnings release. Please note that information reported on this call speaks only as of today, April 27, 2023, and therefore you are advised that any time-sensitive information may no longer be accurate as of the time of any replay listening or transcript reading. In addition, the comments made by management during this conference call may contain forward-looking statements within the meaning of the United States federal securities laws. These forward-looking statements reflect the current views of management. However, various risks, uncertainties, and contingencies could cause actual results, performance, or achievements to differ materially from those expressed in the statements made by management. The listener or reader is encouraged to read the company's prospectus or the annual report on Form 10-K that was filed on March 15, 2023, to better understand those risks, uncertainties, and contingencies. The comments made today will also include certain non-GAAP financial measures. Additional details on reconciliation to the most directly comparable GAAP financial measures are included in yesterday's earnings release, which can be found on the Third Coast website. Now I would like to turn the call over to Third Coast Chairman, President, and CEO, Mr. Bart Carraway. Bart?

Thanks, Natalie, and good morning, everyone. Thank you for joining us today. I'll begin by highlighting the company's performance for the first quarter. John will then provide a more detailed financial review, and Audrey will give a credit update. Then, before we take your questions, I'll return to discuss our outlook. Third Coast continued to build on momentum from the fourth quarter 2022, and our first quarter results only validated the company's strategic direction and market positioning. Loans grew $106 million to $3.2 billion, or 3%, when compared to the fourth quarter of 2022. And deposits were also up 3% over the fourth quarter to $3.32 billion. The bank's leadership responded quickly to market events and implemented a plan that included distributing information about the company's strong liquidity and capital position. This, coupled with the efforts of our lenders and relationship managers, who proactively reached out to depositors, led to an overall increase in deposits of $86 million, with $31 million being non-interest-bearing demand. The leadership team demonstrated a strong commitment to managing the impact of the liquidity crisis on the bank and its stakeholders. This approach helped to increase relationships with the bank's depositors and grow the bank's reputation for stability and trustworthiness during a time of industry volatility. We made significant strides in our business operations for the quarter, with progress being made across virtually every financial measure, such as margin, income, expenses, and earnings per share. We also surpassed our target of 1% return on average assets in the quarter, accomplishing this goal well ahead of our previously stated schedule. We maintained our strong credit quality and even had net recoveries for the quarter, which Audrey will discuss further in her prepared remarks. By focusing on the company's operations and business strategy, we can approach any obstacle with confidence and strength, inspiring and motivating employees to perform at their best. The positive first quarter results for Third Coast can be attributed to our talented employees, innovative and timely solutions, and our exceptional leadership. With that, I'll turn the call over to John for a more detailed financial review. John?