Northpointe Bancshares, Inc.

Greetings. Welcome to North Point Bank Shares Incorporated's first quarter 2025 earnings call. This time, all participants will be in listen-only mode. A brief question-and-answer session will follow today's formal presentation. If anyone should require operator assistance at any time, please press star zero on your telephone keypad. Please note that today's conference is being recorded. This time, I'll turn the conference over to Brad House, CFO of North Point Bank Shares. Brad, you may now begin.

Thank you, Rob. Good morning, and welcome to NorthPoint's first quarter 2025 earnings call. My name is Brad Howes, and I'm the Chief Financial Officer. With me today are Chuck Williams, our Chairman and CEO, and Kevin Comps, our President. Additional earnings materials, including the presentation slides that we will refer to on today's call, are available on NorthPoint's Investor Relations website, ir.northpoint.com. As a reminder, during today's call, we may make forward-looking statements which are subject to risks and uncertainties and are intended to be covered by the safe harbor provisions of federal securities laws. For a list of factors that may cause actual results to differ materially from expectations, please refer to the disclosures contained within our SEC filings and on our earnings release and presentation slides. These statements speak only as of the date made, and North Point undertakes no obligation to update them. We will also reference non-GAAP financial measures and encourage you to review the non-GAAP reconciliations provided in both our earnings release and presentation slides. The agenda for today's call will include prepared remarks, followed by a question and answer session, and then closing remarks. So with that, I'll turn the call over to Chuck.

Thank you, Brad. Good morning, everyone, and thanks for joining. Before I begin, I'd like to thank our North Point team for their incredible dedication to our bank. and for their unwavering commitment to our clients and customers. We completed our IPO in mid-February and I'm very pleased to be hosting our first ever earnings call. During the IPO, we talked with investors about our vision and what makes our specialized mortgage-focused business model so unique. We laid out our strategy and how we plan to drive strong financial performance in the coming years. And so far, we have successfully achieved and exceeded the financial and growth metrics we presented during the IPO process. On slide four, we lay out our strong financial performance for the first quarter of 2025. For the quarter, we earned $15 million, or 49 cents per diluted share. Kevin and Brad will go through our performance in more detail, but let me share a few highlights. Our Mortgage Purchase Program, or MPP, is our distinctive alternative to the traditional warehouse lending model. As we highlighted during the IPO, MPP is one of our primary growth channels and where we plan to deploy a substantial portion of the new capital that we raised. We saw exceptional growth in MPP balances, which increased by over $750 million from the previous quarter. During the IPO, we indicated to investors that our goal was to be near $2 billion in outstandings by the end of the first quarter and subsequently grow the MPP business by another $600 million to $800 million by the end of the second quarter. Actual outstandings as of 3-31 were approximately $2.5 billion, which equates to roughly $500 million over the original forecast. This sets us up well for achieving and exceeding the growth target for the second quarter. We also experienced strong growth in our first lien home equity line business, which are tied seamlessly to a demand sweep account through our proprietary technology. We commonly refer to these loans as all-in-one or AIO loans. This portfolio had a net balance growth of $31.1 million over the prior quarter. The strong performance in the first quarter reflects the success in both our MPP and retail banking businesses. While I'm pleased with this quarter's results, I'm equally excited about where we are headed and the growth trajectory for the balance of the year. Speaking of the retail banking channel, we were able to add 30 new mortgage originating professionals throughout the first quarter to help us continue our growth and expand that business as well. Our brand and reputation in the mortgage space allows us to continue to attract and retain the highest quality talent and to invest in North Point's future. Last week, we announced that we hired a very talented executive to join Dave Crystal's MPP team to further enhance the strategic direction, growth, and operations of our MPP business. We're very excited to welcome Patrick Collins to the North Point team and confident he will help strengthen our growth trajectory and continue to foster and cultivate great relationships in this channel. I'd like to turn it over to Kevin now to talk about our business lines.