Ally Financial Inc.

The third quarter, 2025, Ally Financial Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Sean Leary, Chief Financial Planning and Investor Relations Officer. Please go ahead.

Thank you, Daniel. Good morning and welcome to Ally Financial's third quarter 2025 earnings call. This morning, our CEO, Michael Rhodes, and our CFO, Russ Hutchinson, will review Ally's results before taking questions. The presentation we'll reference can be found on the investor relations section of our website, ally.com. Forward-looking statements in risk factor language governing today's call are on page two. Gap and non-gap measures pertaining to our operating performance and capital results are on page three. As a reminder, non-gap or core metrics are supplemental to and not a substitute for U.S. gap measures. Definitions and reconciliations can be found in the appendix. And with that, I'll turn the call over to Michael.

Thank you, Sean, and good morning, everyone. I appreciate you joining us for our third quarter earnings call. Before we dive into results, I want to reflect on the refreshed strategy we rolled out in January, which has reshaped Ally into a more focused organization. These changes are not cosmetic. They are foundational, and the third quarter provides clear evidence that our strategy is working. If I had to choose one word to define this quarter, it would be momentum. Not isolated wins, but sustained improvement driven by our 10,000 colleagues who are executing with discipline, urgency, and purpose. We are seen in the traction each of our three core business franchises have with our customers. We're seen in our financial performance. And we're seen in the way our teams are showing up every day to serve our customers in a compelling way. With that, let's turn to our third quarter financial results. We achieved significant year-over-year earnings growth with adjusted EPS up 166% to $1.15 per share. Core ROTCE was 15% on a headline basis and about 12% excluding the impact of AOCI. These increases are driven by embedded structural tailwinds in the balance sheet, continued credit normalization, and discipline expense and capital management. Third quarter adjusted net revenue of $2.2 billion is up 3% year-over-year, despite the sale of the card business earlier this year. Excluding the sale of credit card, year-over-year net revenue growth was 9%. Net interest margin, excluding core OID, expanded to 3.55%, up 10 basis points quarter-over-quarter, driven by continued optimization on both sides of the balance sheet. And we remain confident in our ability to deliver on our medium-term target. Meanwhile, CET1 of 10.1% equates to $4.5 billion of excess capital above our regulatory minimum. Importantly, these results reflect momentum across our franchise. Margin is expanding with a clear path to the upper 3% range. Operating leverage is improving, supported by top-line revenue growth and disciplined expense management. Credit trends are supportive as delinquency rates continue to normalize and the net charge-off rates improve due to underwriting, actions, and servicing enhancements implemented over the past two years. And our capital ratios are growing steadily. Expense discipline remains paramount, and this quarter we rolled out our proprietary AI platform ally.ai to 10,000 teammates to help them streamline tasks, automate routine work, and make more informed decisions. Looking beyond the financial results, our unmatched brand and leading culture continue to provide distinct advantages in the markets we serve. Our brand continues resonating in the market as consumers once again choose Ally for a reputation at a higher rate than the industry average. Our employees show up for our customers and communities every day, and that impact is felt in everything we do. While recognition is never the goal, Ally was recently honored by the American Banker with an award for the most powerful woman in banking, top team. That's a first for a digital-only bank. We also climbed the rankings on Fortune's best workplaces within our industry. Recognitions like these are a testament to our culture, our people, and what it means to be uniquely Ally. With that context, let's turn to page five and discuss the core franchise that are fueling our momentum and position us for sustained growth moving forward. Dealer Financial Services continues to be the cornerstone of our performance. Within the auto finance business, consumer originations of 11.7 billion were driven by four million applications That's our highest application volume ever. The strength of our dealer relationships and the scale of our franchise enable us to be selective in loans we book, optimizing for both pricing and credit. Simply put, dealers want to do business with Ally, and we're seeing it in our results. Our differentiated model provides dealers a comprehensive suite of solutions spanning consumer and commercial financing, smart auction, and pass-through programs, and a broad range of insurance products. This positions Ally as a unique strategic partner to our customers. Originated yield came in at 9.7%, with 42% of originations from our highest credit quality tier, a direct reflection of our disciplined strategy to balance attractive pricing with prudent risk management. Turning to insurance, we continue to leverage synergies with auto finance to enhance the overall value proposition we offer to our dealer partners. Our insurance team remains focused on expanding relationships and deepening engagement with the 7,000 dealers they currently support. In corporate finance, we delivered another strong quarter, generating a 30% ROE along with 10% growth in the loan portfolio. We're maintaining discipline risk management while actively exploring new verticals, structures, products, and solutions to generate incremental accretive business. This is a business built on trust, speed, and performance, and we're committed to scaling it responsibly. Turning to our digital bank, which remains a key differentiator in the marketplace, our customer-first approach continues to set us apart. We ended the quarter with $142 billion in balances, reinforcing our position as the largest all-digital bank in the US, serving 3.4 million customers. Deposits remain the foundation of our funding profile, representing nearly 90% of total funding. 92% are FDIC-insured, demonstrating the strength and stability of our deposit base. Our mobile app continues to earn top-tier accolades for customer satisfaction, And our suite of digital products is driving deeper engagement, fueling loyalty, and reducing rate sensitivity. Before I turn over to Russ, I want to leave you with this. We are pleased with our progress and even more confident in where we're heading. But let me be clear, we still have work to do. We are doubling down on our core franchises. They are driving improved results and setting us up for focused growth moving forward. We're creating long-term value for shareholders, customers, employees, and the communities we serve. We've built a differentiated foundation, resilient, scalable, and aligned with our long-term goals. And we see room for organic growth across each of our businesses over the years to come. The momentum is real, and we are confident in our ability to sustain it. And with that, Russ, I'll turn it over to you to walk through the financials in more detail.