Orchid Island Capital, Inc.

Good day, and thank you for standing by. Welcome to the Orchid Allen Capital first quarter 2026 earnings call. At this time, all participants are on a listening mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I'd now like to hand the conference over to Melissa Alfonso, Office Manager. Please go ahead.

Good morning, and welcome to the first quarter 2026 earnings conference call for Orchid Island Capital. This call is being recorded today, April 24, 2026. At this time, the company would like to remind the listeners that statements made during today's conference call relating to matters that are not historical facts are forward-looking statements subject to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Listeners are cautioned that such forward-looking statements are based on information currently available on the management's good faith, belief with respect to future risks and uncertainties that could cause actual performance or results to differ materially from those expressed in such forward-looking statements. Important factors that could cause such differences are described in the company's filings with the Securities and Exchange Commission including the company's most recent annual report on Form 10-K. The company assumes no obligation to update such forward-looking statements to reflect actual results, changes in assumptions, or changes in other factors affecting forward-looking statements. Now, I'd like to turn the conference over to the company's Chairman and Chief Executive Officer, Mr. Robert Cauley. Please go ahead, sir.

Thank you, Melissa. Good morning, everyone. I hope everybody's had a chance to download our deck as usual. That will be kind of the basis of our call today. First off, I'd just like to walk you through the agenda as usual. Jerry Sintes, our controller, will walk you through the financial results. I'll then go through the market developments, basically discuss briefly the market variables that impact our decision-making and our performance, and have a few comments on those. Hunter, then we'll talk about the portfolio and our hedging positions, and then we will open the call up for questions. With that, I'll turn it over to Jerry.