Northpointe Bancshares, Inc.

Welcome to North Point Bank Shares Incorporated third quarter 2025 earnings call. At this time, all participants are in a listen-only mode. A brief 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 Howes, CFO. Thank you. You may begin.

Thank you. Good morning and welcome to NorthPoint's third 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 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-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. With that, I'll turn the call over to Chuck.

Thank you, Brad. Good morning, everyone, and thank you for joining. Before I begin, I'd like to thank our NorthPoint team for their incredible dedication and for their unwavering commitment to our clients and customers. The momentum that we have built across our business lines drove strong financial performance in the third quarter. That was highlighted by another quarter of very robust growth in our mortgage purchase program, or MPP channel, which is our distinctive alternative to the traditional mortgage warehouse lending model. We also experienced solid performance in our residential lending channel, including increased mortgage block and application activity, and a 23% annualized growth in our all-in-one loan portfolio. On the funding side, we benefited from a new quarter custodial deposit relationship that we announced to you at the last earnings call. That drove approximately $300 million increase in interest-bearing demand deposits from the prior quarter, helping to bolster our core deposits. We continue to explore new opportunities to grow our non-brokered deposit base. This remains one of the bank's most important strategic priorities. 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 of our financial and operating performance. On slide four, we lay out our performance for the third quarter of 2025. For the quarter, we earned $20.1 million or $0.57 per diluted share. As you can see, we had very strong performance ratios in the third quarter, highlighted by a 1.34% return on assets and 15.41% return on average tangible common equity. Let me start with an update on MPP. We saw another quarter of exceptional performance in the MPP business, ending the quarter at $3.4 billion in balances. This represents balance growth of $473 million from the prior quarter and a remarkable $1.7 billion from the third quarter of last year. We funded $9.8 billion in loans through the channel in the third quarter, which is the highest quarterly level ever for Northpointe. Overall, we remain very pleased with the success and growth trajectory of the MPP business. I'm excited to report that through the first nine months of the year, we've already achieved our targeted four-year growth for 2025 that we outlined during the IPO. Importantly, we still have a robust pipeline which positions us nicely for continued success for the remainder of 2025 and into 2026. With the success of the program I just outlined, we have now begun to utilize participations in the MPP program with partner financial institutions. We used this strategy in the past, helping to manage our balance sheet within our existing capital framework, while optimizing our revenue streams. We currently have 12 participants in the program today, and we're looking to expand and add additional partner financial institutions going forward. Grant will provide additional guidance on the 2026 MPP growth, including participations during his remarks. Our first lien home equity loan business, which are tied seamlessly to demand sweep account, experienced strong growth as well. For the quarter, these loans increased by $38.8 million, which is an annualized growth rate of 23%. Residential mortgage application and interest rate lock commitments both increased during the third quarter. This was largely attributable to the success of our mortgage-originating professionals, including the new lenders that we have added over the past year. We also saw a nice pickup in refinance activity in September, which Kevin will discuss further. Our brand and reputation in the mortgage space allows us to continue to attract and retain the highest quality talent and to invest in NorthPoint's future. This quarter we continue to add new mortgage originating professionals to help us continue our growth in that business as well. Regardless of what happens with rates going forward, we will continue to take our share of the industry mortgage business. And we are well positioned to quickly capitalize on mortgage volume should rates continue to decrease. Asset quality has been a hot topic this quarter in the banking sector. Let me emphasize that virtually all of our lending programs are backed by one to four family residential real estate, which is geographically dispersed throughout the United States. Our credit quality and risk management practices remain strong. Kevin will discuss more on this topic in his remarks. Our tangible book value increased by 56 cents per share over the prior quarter. When you add back the impact of dividends paid, our tangible book value per share increased by 15.8% annualized. I'd like to turn the call over now to Kevin to talk about our business lines.