Triumph Financial, Inc.

Good morning. It's 9.30 in Dallas, and we're ready to get started. Thanks for joining us this morning and for the interest in our second quarter results. We're glad you're here. With that, let's get to business. Aaron's letter last evening outlined an outstanding quarter. We saw material expansion on our core initiatives against a market backdrop that finally gave us some tailwinds. The positive momentum is palpable, and the results of that are visible in Aaron's comments in the shareholder letter. That quarterly shareholder letter published last evening and the 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 statement. 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 the Safe Harbor Statement. With that, I'd like to turn the call over to Aaron for a welcome and to kick off our Q&A. Aaron?

Good morning, everyone, and thank you for joining us. Before we begin, I'd like to welcome Ben Volquin, our Head of Enterprise Data and Intelligence, who is joining us for today's discussion. I hope you'll ask Ben more questions than me because his accent is certainly more pleasing to listen to than mine. In the Q&A on the last earnings call, I referred to the freight market with the statement that the market may be changing. And as we sit here today, I think I can say definitively that the market has changed. We are in a different market. And this market is good for many, but it is also difficult for some. And we tried to explain that in the letter we published yesterday. And so I would say if you look through the non-core expenses and the noise in the quarter, what you will find for Triumph is a business model that is performing materially ahead of its recent history. And more importantly to me, we are seeing validation that our value chain is working and delivering what it's promised to the market. And so with that brief introduction, I will turn the call over for questions.

We will now move to our question and answer session. If you have joined via the webinar, please use the raise hand icon, which can be found at the bottom of your webinar application. When you are called on, please unmute your line and ask your question. We will now pause a moment to assemble the queue. Our first question will come from Joe Yanchunas with Raymond James. You may now unmute and ask your question.