Central Pacific Financial Corp New

Good afternoon, ladies and gentlemen. Thank you for standing by, and welcome to the Central Pacific Financial Corp's second 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, www.cpb.bank. I'd like to turn the call over to Mr. David Morimoto, Executive Vice President, Chief Financial Officer. Please go ahead, sir.

Thank you, Chad. And thank you all for joining us as we review the financial results of the second quarter of 2020 for Central Pacific Financial Card. With me this morning are Paul Yonomide, Chairman and Chief Executive Officer, Catherine Noll, President, Arnold Martinez, Executive Vice President and Chief Banking Officer, and Anna Hu, Executive Vice President and Chief Credit Officer. We have prepared a slide presentation that we will refer to in our remarks today. The 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 Corp. I'd like to start with an update on the COVID-19 pandemic response by the state of Hawaii and our company. The infection rate in the state of Hawaii continues to remain very low, with roughly 1,800 cases as of July 28th. Hawaii continues to have the lowest per capita infection rate in the nation. Our residents are abiding by government orders, including required quarantines, face mask usage, and social distancing. The state's local economy reopened in June, and we will be reopening out-of-state tourism on September 1 for visitors that provide evidence of a negative COVID-19 test. We believe this is a balanced way to reopen out-of-state tourism while managing COVID infections. While the tourism reopening will be at a gradual process, it will help to start bringing back the much needed business to our local economy. Travel bubbles between Hawaii and other countries with low infection rates continue to be discussed by our government leaders. At Central Pacific, we continue to prudently manage through the pandemic. In the credit area, we have thoroughly reviewed our loan portfolio, adjusted risk ratings where warranted, and determined that our credit risk is manageable. Our portfolio is conservative, well diversified, and well collateralized. We continue to proactively work with our customers to help them through the pandemic, as demonstrated by our significant Paycheck Protection Program or PPP loan originations and loan payment deferral programs. Overall, we remain committed to supporting the needs of our customers and community during this time, while providing the excellent service that we are known for in maintaining a safe environment. Our RISE 2020 initiatives are continuing and making good progress despite the COVID-19 pandemic. The revitalization of our building headquarters is in full steam with major parts of the construction underway and on track for an opening date in January 2021. In the area of digital, we are in the final stages of pilot testing our new online and mobile banking platforms and are excited for the public launch in late August. Finally, we continue to roll out our newly upgraded ATMs throughout our branch network. We continue to see a decline in branch transaction activity, and our digital initiatives have been well-timed to meet the changing needs of our customers. I'd like to now turn the call over to Catherine to share more about our Pandemic Preparedness Plan and the work of our CPB Foundation. Catherine.