Bank of N.T. Butterfield & Son Limited (The)

Good morning, my name is Drew and I will be your conference operator today. At this time, I would like to welcome everyone to the third quarter 2026 earnings call for the Bank of N.T. Butterfield & Son Limited. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing star then zero on your telephone keypad. After today's presentation, There will be an opportunity to ask questions. To ask a question, you may press star then 1 on your telephone keypad. To withdraw your question, please press star then 2. Please note this event is being recorded. I would now like to turn the call over to Noah Fields, Butterfield's Head of Investor Relations. Please go ahead.

Thank you. Good morning, everyone, and thank you for joining us. Today, we will be reviewing Butterfield's third quarter 2026 financial results. On the call, I am joined by Michael Collins, Butterfield's Chairman and Chief Executive Officer, Michael Scrum, President and Chief Financial Officer, and Brie Hidalgo, Chief Risk Officer. Following their prepared remarks, we will open the call up for a question and answer session. Yesterday afternoon, we issued a press release announcing our third quarter of 2026 results. The press release and financial statements along with a slide presentation that we will refer to during our remarks on this call are available on the investor relations section of our website at butterfieldgroup.com. Before I turn the call over to Michael Collins, I would like to remind everyone that today's discussions will refer to certain non-GAAP measures which we believe are important in evaluating the company's performance. For reconciliation of these measures to U.S. GAAP, please refer to the earnings press release and slide presentation. Today's call and associated materials may also contain certain forward-looking statements which are subject to risks, uncertainties, and other factors and may cause actual results to differ materially from those contemplated by these statements. Additional information regarding these risks can be found in our SEC filings. I will now turn the call over to Michael Collins.

Thank you, Noah, and thanks to everyone joining the call today. Our third quarter performance reflects the strength and resilience of Butterfield, the depth of our client relationships, and the disciplined execution of our strategy, all of which position us well for continued long-term growth. Butterfield is a leading offshore bank and wealth manager, with strong market positions in Bermuda and the Cayman Islands, complemented by a growing retail banking presence in the Channel Islands. We also provide wealth management services to high net worth individuals, families, and institutions through offices in the Bahamas, Switzerland, Singapore, and the UK. In the UK, we originate residential mortgages for high net worth clients for properties in prime central London. I will now turn to highlights from the quarter on page six. Third quarter results reflected continued strength across the franchise, with net income of $61 million, or $1.50 per share, and core net income of $64.2 million, or $1.58 per share. Profitability remained strong, with a return on average common equity of 21.3%, and core return on average tangible common equity of 25%. Net interest margin improved by two basis points to 2.76%, despite a two basis point increase in deposit costs to 1.27%. We also continue to return capital to shareholders through our quarterly cash dividend of 50 cents per share. Finally, we continue to make progress in the acquisition of CIBC Caribbean, with closing expected in the first half of 2027. We will provide some additional details about the progress later in the call. I will now turn the call over to Michael Scrum for more details on third quarter.