Capital One Financial Corporation

Good day and thank you for standing by. Welcome to the Capital One second quarter 2025 earnings call. Please be advised that today's conference is being recorded. After the speaker's presentation, there will be a question and answer session. To ask a question, please press star one one on your telephone and wait for your name to be announced. To withdraw your question, please press star one one again. I would now like to hand the conference over to your speaker today, Jeff Norris, Senior Vice President of Finance. Please go ahead.

Thanks very much, Josh, and welcome everybody. Just a few opening remarks. To access the live webcast of this call, please go to the Investors section of Capital One's website, CapitalOne.com. A copy of the earnings presentation, press release, and financial supplement can also be found on the Investors section of Capital One's website by selecting Financials, then Quarterly Earnings Releases. With me tonight are Mr. Richard Fairbank, Capital One's Chairman and Chief Executive Officer, Mr. Andrew Young, Capital One's Chief Financial Officer. Rich and Andrew are gonna walk you through the presentation summarizing our second quarter results for 2025. Please note that this presentation may contain forward-looking statements. Information regarding Capital One's financial performance and any forward-looking statements contained in today's discussion and the materials speak only as of the particular date or dates indicated in the materials. Capital One does not undertake any obligation to update or revise any of this information, whether as a result of new information, future events, or otherwise. Numerous factors could cause our actual results to differ materially from those described in forward-looking statements. And for more information on these factors, please see the section titled forward-looking information in the earnings release presentation and the risk factors section of our annual and quarterly reports accessible at Capital One's website and filed with the SEC. And with that, I'll turn the call over to Mr. Fairbank. Rich?

Thanks, Jeff, and good evening to everyone on tonight's call. I want to begin tonight by welcoming our colleagues at Discover to the Capital One journey. As you know, we completed our acquisition of Discover on May 18th, and we're fully mobilized and hard at work on integration, which is going well. It's still early days, but we very much like what we've seen so far. We share key cultural attributes with Discover, including a deep shared commitment to customers. And we're as excited as ever by the expanding set of opportunities to grow and create value as a combined company. From our founding days, we've been on a quest to build a great financial institution. an integrated banking and global payments platform that's positioned at the forefront of the opportunities that will come as technology and data transform financial services. Discover enhances and accelerates our progress on this quest. I'll share additional thoughts on the hard work, investments, and compelling opportunities we see going forward at the conclusion of tonight's call. But for now, I'll turn the call over to Andrew to discuss the balance sheet and purchase accounting impacts of the deal, as well as our financial performance in the second quarter. Andrew?