FIRST REPUBLIC BANK

Greetings and welcome to First Republic Bank's second quarter 2022 earnings conference call. Today's conference is being recorded. During today's call, the lines will be in a listen-only mode. Following the presentation, the conference will be open for questions. To join the queue, please press star 1 on your telephone keypad at any point during the call. I would now like to turn the call over to Mike Ionelli, Vice President and Director of Investor Relations. Please go ahead.

Thank you and welcome to First Republic Bank's second quarter 2022 conference call. Speaking today will be Jim Herbert, Founder and Executive Chairman. Mike Roffler, CEO and President. Mike Selfridge, Chief Banking Officer. Bob Thornton, President, Private Wealth Management. and Olga Sokova, Chief Accounting Officer and Acting Chief Financial Officer. Before I hand the call over to Jim, please note that we may make forward-looking statements during today's call that are subject to risks, uncertainties, and assumptions. For a more complete discussion of the risks and uncertainties that could cause actual results to differ materially from any forward-looking statements, see the bank's FDIC filings including the form 8K filed today, all available on the bank's website. And now I'd like to turn the call over to Jim Herbert.

Thank you, Mike, and good morning, everyone. Driven by a steady and intense focus on service, safety, and stability, First Republic has produced consistent growth and results since our founding 37 years ago. This quarter's strong results once again demonstrate the stability and the power of our business model and our culture. Our model is straightforward. Extraordinary service leads to client satisfaction levels that are significantly higher than the banking industry and are even higher than most other leading companies, regardless of industry. This very high client satisfaction level, in turn, drives our organic growth. Our existing, very satisfied clients stay with us, they do more with us, and they refer their friends and their colleagues. At the same time, we maintain a steadfast focus on long-term safety and stability. This focus has produced steady long-term results, strong capital, and exceptional credit quality throughout the bank's history. For example, Since the year 2000, our net charge-offs have been only one-tenth of those of the top 50 banks. Our model and our culture have proven to be very successful long-term through all economic cycles. In fact, during times of broader economic uncertainty, our holistic, client-centric service is even more valued by our clients. During these times, we often see our new client household acquisition rate increase, as it is currently doing. Today, our model is stronger than ever. This has once again driven our excellent performance during this most recent quarter, and we're well positioned to go ahead in the current conditions. Now, let me turn the call over to Mike Roffler, CEO.