Central Pacific Financial Corp New

Good afternoon, ladies and gentlemen. Thank you for standing by, and welcome to the Central Pacific Financial Core First Quarter 2020 Conference Call. During today's presentation, all parties will be in a listen-only mode. Following the presentation, the conference will be open for questions. This call is being recorded and will be available for replay shortly after its completion on the company's website at www.cpbbank.com. I'd like to turn the call over to Mr. David Morimoto, Executive Vice President, Chief Financial Officer. Please go ahead.

Thank you, Grant. And thank you all for joining us as we review the financial results of the first quarter of 2020 for Central Pacific Financial Corp. With me this morning are Paul Yonomide, Chairman and Chief Executive Officer, Catherine Knoll, President, Arnold Martinez, Group Executive Vice President of Revenue, and Anna Hu, Executive Vice President and Chief Credit Officer. We have prepared a slide presentation that we will refer to it in our remarks today. Presentation is available in the investor relations section of our website at cpb.bank. During the course of today's call, management may make forward-looking statements. While we believe these statements are based on reasonable assumptions, they involve risks that may cause actual results to differ materially from those projected. For a complete discussion of the risks related to our forward-looking statements, please refer to slide two of our presentation. And now, I'll turn the call over to Paul.

Thank you, David, and good morning, everyone. As always, we appreciate your interest in Central Pacific Financial Corporation. The COVID-19 pandemic is top of mind for all of us. Overall, the state of Hawaii is doing a good job at managing and containing the pandemic. Hawaii was early to put in place stay-at-home orders and mandatory curfews and quarantines. Our residents in general are abiding by government orders as well as hygiene recommendations. Due to our geographic isolation, Hawaii was able to effectively lock down and protect the state from outside visitors with potential COVID-19 infections. We believe these measures will slow and contain the spread of COVID-19 in the state and result in a faster recovery. However, with a complete tourism shutdown in Hawaii, we are seeing a dramatic impact on the state's economy. We are hopeful that we will start to see visitors returning to the islands in the late summer to early fall of this year, particularly from Asia as they are closer to recovery from the pandemic. Central Pacific Financial is committed to supporting our employees, customers, and community during this time of crisis. Our first focus is on our employees. Safety comes first. and therefore we have temporarily closed 13 of our smaller branches to allow for adequate social distancing at our larger remaining branches. The staff from the temporarily closed branches have been redeployed to work at the remaining branches, assist other areas of the bank, or make customer telephone calls. The majority of our support staff, even at the executive level, have started working remotely on a full-time or rotating basis. We believe the actions we have taken to date will allow us to meet the needs of our customers and community while ensuring the safety of all employees. We want to assure you that we are prepared to handle this crisis. I personally led companies through prior crises, including the 2011 Tōhoku earthquake, tsunami, and radiation aftereffects while I was in Tokyo, leading IBM Japan, and the SARS outbreak in 2002 to 2004 while I was leading BearingPoint Asia Pacific. Additionally, many of our key team members that helped us through the 2008 to 2009 financial crisis remain with the company and are applying the valuable lessons learned. Despite COVID-19, our RISE 2020 initiatives are continuing. The revitalization of our building headquarters is proceeding as we continue to support the local construction industry. We're also pushing ahead with our digital initiatives, including the development of our new online and mobile banking platforms and the replacement of our ATMs. Digital technology is even more critical to our business during crises like this and will remain a high-priority strategy for our future. I'd like to turn the call over now to Catherine, who will share more about our business continuity plan. Catherine?