Northpointe Bancshares, Inc.

Greetings. Welcome to North Point BankShares Inc. Q2 2025 earnings conference call. At this time, all participants are in a listen-only mode. The question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to Brad Howe, Chief Financial Officer. Thank you. You may begin.

Thank you, Joe. Good morning. Welcome to North Point's second quarter 2025 earnings call. My name is Brad Howe and I am 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 North Point's investor relations website at .NorthPoint.com. As a reminder, during today's call, you 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 Security Law. 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. We will also reference non-GAP financial measures and encourage you to review the non-GAP 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. 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 their unwavering commitment to our clients and customers. This is now our second quarter end since the IPO in January. I'm very pleased with the momentum we've gained and how we have continued to execute on our strategic plan. Before I turn the call over to Kevin and Brad to dive into the details, I'd like to take a moment and share some highlights from our financial and operating performance. On side four, we lay out a performance for the second quarter of 2025. For the quarter, we earned 18 million or 51 cents per diluted shares. As you can see, all of our performance ratios improved from the first quarter level, highlighted by .34% return on assets and a .49% return on average common equity. We also increased tangible book value per share by over 14% annualized, which reflects the strong financial performance and organic capital we generated during the quarter. Let me start with an update on the mortgage purchase program, or MPP, which is our distinctive alternative to the traditional warehouse lending model. We saw another quarter of exceptional performance in the MPP business with period ending balance growth of 423 million and average balance growth of 759 million over the prior quarter. We funded over 9 billion in loans through the channel in the second quarter, which is the highest quarterly level ever for North Point. Overall, we're very pleased with this success and growth trajectory of the MPP business.