Flagstar Bank, N.A.

Hello, everyone. Thank you for joining us and welcome to the Flagstar Bank third quarter 2026 earnings conference call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. I will now hand the conference over to Sal DiMartino, Director of Investor Relations. Sal, please go ahead.

Thank you, Holly, and good morning, everyone. Welcome to our third quarter 2026 earnings conference call. This morning, our executive chairman and CEO, Joseph Otting, along with the company's co-president, co-chief operating officer, and chief banking officer, Richard Raffetto, and co-president, co-chief operating officer, and chief financial officer, Lee Smith, will discuss our results for the quarter. During the call, we will be referring to a presentation which provides additional detail on our quarterly results and operating performance. Both the earnings presentation and the press release can be found on the investor relations section of our company website, ir.flagstar.com. Also, before we begin, I'd like to remind everyone that certain comments made today by the management team of Flagstar Bank may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements we may make are subject to the safe harbor rules. Please review the forward-looking disclaimer and safe harbor language in today's press release and presentation for more information about risks and uncertainties which may affect us. In addition, when discussing our results, we will reference certain non-GAAP measures which exclude certain items from reported results. Please refer to today's earnings release for reconciliation of these non-GAAP measures. And with that, I would now like to turn the call over to Mr. Otting. Joseph. Thank you, Sal, and good morning, everyone.

We appreciate you joining the call today. I'd like to begin on slide three by providing updates to factor affecting our business and updates around the financial forecast. We continue to make meaningful progress in strengthening our core business and advancing our strategic priorities. Net interest income increased, the net interest margin expanded, and pre-provisioned net revenue improved compared to the previous quarter. We also grew our CNI loan portfolio and deposits while reducing our exposure to commercial real estate loans this quarter. However, several variables pressured credit costs during the third quarter, including the effects of higher interest rates, Actions related to the New York City rent regulations and persistent inflationary pressures. At the same time, a competitive deposit environment continues to impact deposit pricing and growth expectations. Our success as a company will be determined by our ability to continue to reduce our New York rent regulated exposure, which we did during the quarter, and attract deposits in an economic manner and expand the balance sheet through CNI loan growth. We are still on track towards achieving our strategic objectives and with our plan to diversify our balance sheet. However, given a higher for longer interest rate environment, the full realization of our transformation has shifted to 2028 from 2027. As a result, we are adjusting our guidance from what we previously outlined to reflect the impact of higher interest rates, the rate environment on credit quality, less deposit growth, and corresponding C&I loan growth, and the net interest margin, which Lee will discuss in more detail shortly. Moving to slide four, I'd like to discuss some of our third quarter highlights in each of our key focus areas. First, in terms of our earnings, both our net interest income and margin increase compared to the prior quarter while PPNR also continued to improve. Second, a key part of our balance sheet diversification strategy is growing our CNI loan portfolio. This quarter, we delivered another $2 billion of net CNI loan growth, which resulted in about $1 billion of net loan portfolio growth during the quarter. On average, the average loan in that portfolio we added was about $28 million in loan outstandings, and it was roughly 75 relationships. Third, another key component of our balance sheet diversification strategy is reducing our overall commercial real estate exposure. During the quarter, our CRE par payoffs totaled $1.2 billion, of which 35% were rated substandard. The decline in the overall CRE portfolio was slightly less as we funded approximately $375 million of new high-quality relationship-based CRE loans on commitments of over $700 million. In our forecast, we project CRE to decline net $1 billion per quarter. And fourth, we continue to apply a prudent approach to credit quality. During the quarter, we had net charge-offs of $74 million, or 49 basis points of average loans, down $25 million compared to the prior quarter, while non-nucle loans were relatively stable. Now I'd like to turn it over to our Chief Financial Officer, Lee Smith, who can provide more color on our revised guidance, asset quality, and third quarter trends. Lee, I'll hand it over to you.