Central Pacific Financial Corp New

I'd like to turn the call over to Ms. Dana Matsumoto, EVP, Chief Financial Officer. Please go ahead.

Thank you, Rebecca, and thank you all for joining us as we review the financial results of the second quarter of 2025 for Central Pacific Financial Corp. With me this morning are Arnold Martinez, Chairman, President, and Chief Executive Officer, David Morimoto, Vice Chairman and Chief Operating Officer, Ralph Misik, Senior Executive Vice President and Chief Risk Officer, and Anna Hu, Executive Vice President and Chief Credit Officer. We have prepared a supplemental slide presentation that provides additional details on our earnings release and 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 our Chairman, President, and CEO, Arnold Martinez.

Thank you, Dana, and aloha, everyone. Before diving into our quarterly results, I'd like to take a moment to proudly share that CPB was named the best bank in Hawaii by Forbes magazine in 2025. This is the fourth consecutive year the bank has made the Forbes list. Our second quarter financial results demonstrate the continued strength of our core business and ability to execute effectively in a dynamic market environment. The bank's strong asset quality, capital, and liquidity positions will enable us to grow our business by continuing to support the needs of our customers and the markets we serve. I want to thank our dedicated employees, customers, community, and shareholders for your continued support of our bank. Turning to our Hawaii market update, the state's economy continues to demonstrate resilience across multiple sectors. the construction industry remains solid with completed construction in a state reaching $14 billion in 2024. Activity in 2025 is expected to show steady growth driven by several major infrastructure and residential developments. Tourism, a key driver of our economy, shows encouraging trends. Through May year to date, visitor arrivals were up 2.8% from the prior year, and down just 3.9% from pre-pandemic 2019. Total visitor spending was up 6.5% from the same prior year period and up 24.3% from the same period in 2019. The majority of the growth is from domestic travelers, while the recovery of Japanese visitors continues to be low. Hawaii's statewide seasonally adjusted unemployment rate remained very low at 2.8% in June and continued to outperform the national unemployment rate of 4.1%. The strong labor market continues to support consumer confidence and spending in our local economy. The Hawaii residential real estate market remained steady. Single family home prices in Hawaii rose 0.4% in June with a 1.13 million median sales price. Home sales volumes for June year-to-date dipped 2.1% for single-family homes and dipped 6% for condos compared to the same prior year period. The housing supply in Hawaii continues to be tight but has picked up in recent periods and now has a positive outlook with a number of large housing projects in development. Looking ahead, we maintain a cautiously optimistic outlook for Hawaii's economy. While we're mindful of potential headwinds from global and domestic economic conditions, Hawaii's fundamental economic drivers remain sound and have proven to be resilient. Overall, we feel good about our core business environment and the opportunities ahead. With that said, I'll now turn the call over to David We'll talk about our growth strategy and outlook. David.