Triumph Financial, Inc.

Good morning. It's 9.30 in Dallas, so let's get started. We'd like to open by thanking you for your interest in Triumph and for joining us this morning to discuss our third quarter results. We appreciate it. With that, let's get to business. Erin's letter last evening discussed the quarter's results and provided more color on the products we have introduced and are introducing to the market, which we believe will create long-term shareholder value. We are excited about those opportunities, particularly where we can help America's truckers get immediate access to working capital and allow partners to leverage our transportation technology investments. That quarterly shareholder letter published last evening and our quarterly results will form the basis of our call today. However, before we get started, I would like to remind you that this conversation may include forward-looking statements. Those statements are subject to risks and uncertainties that could cause actual and anticipated results to differ. The company undertakes no obligation to publicly revise any forward-looking statements. For details, please refer to the safe harbor statement in our shareholder letter published last evening. All comments made during today's call are subject to that safe harbor statement. With that, I'd like to turn the call over to Aaron for a kickoff and to welcome us to Q&A. Aaron?

Thank you, Luke, and welcome everyone to the call. Before I give a few opening thoughts, I want to welcome Kim Fisk to the table. Kim has worked in our factoring business for 12 years and currently serves as its Chief Operating Officer. We gave Tim the morning off so investors could hear from Kim. And having worked alongside Kim as long as I have, I can assure you that she is worth hearing from. The letter we filed last night covers lots of topics. Among them is the acknowledgement that freight continues to be tough right now. There's no getting around it. I see nothing upon which to hang a reasonable hope of a turnaround in the short term. In the long term, however, I know that it will turn around. Notwithstanding the market, there are many things to celebrate. C.H. Robinson has gone live with Triumph Pay on the network, and we are in a pilot launch of FAS and Load Pay with C.H. Robinson. We are also demonstrating the ability to leverage models built with artificial intelligence and machine learning to purchase invoices in our factoring business without human intervention. And not only that, but then attaching that to the ability to fund at a time when every other bank in America would be closed. To my knowledge, there's no one else in the industry who can do that currently. So we do not and will not sit back and pout about a tough freight market. We have been planning our work and doing it for years, and we will continue to work that plan. And I am as convinced as I've ever been that the rewards of that plan are unfolding right in front of us. We look forward to hearing your questions, so let's get started.

We will now go to the Q&A. If you have connected via Zoom and would like to ask a question, please use the raised hand feature at the bottom of your Zoom window. Or if you've dialed in, please press star 9. Once called upon, please feel free to unmute and ask your question. Our first question will come from Joe Yanchunas. Joe, please go ahead.