Financial Data and Key Metrics Changes - The company reported a third quarter linked quarter annualized growth rate of 14.5% for non-interest bearing deposits, 10.6% for core deposits, 8.9% for loans, 31.5% for revenue, and 54% for adjusted EPS [9][17][20] - The net interest margin (NIM) increased by three basis points to 3.26% in the third quarter, with expectations for further increases in 2025 due to anticipated rate cuts [20][21] - The estimated growth range for net interest income has been increased to approximately 13% to 14% over 2024 results [21][26] Business Line Data and Key Metrics Changes - End of period loans increased by 8.9% linked quarter annualized, with an adjusted outlook for loan growth in 2025 set at 9% to 10% [17][19] - Non-interest income growth guidance has been raised from 12% to 15% to now 20% to 22% for the year, driven by strong performance in banking fees and wealth management [25][26] - BHG contributed over $40 million in fee revenues in the third quarter, with expectations for approximately $30 million in the fourth quarter [23][24] Market Data and Key Metrics Changes - The company has successfully increased market share in key regions, with significant share losses noted among competitors in Nashville, Chattanooga, Knoxville, and Memphis [10][11] - The merger with Synovus is expected to enhance market share and competitive positioning, with combined Net Promoter Scores indicating a strong service model [12][13][30] Company Strategy and Development Direction - The company aims to continue its strategy of recruiting and retaining market-leading revenue producers to drive sustainable balance sheet growth [6][7] - The merger with Synovus is viewed as a unique opportunity to create a differentiated service model, enhancing growth potential in the Southeast [12][30] - The focus remains on leveraging competitive vulnerabilities in targeted markets to capture additional market share [10][66] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining hiring momentum and achieving growth targets despite market uncertainties [15][30] - The outlook for 2025 is optimistic, with expectations for strong performance driven by continued hiring and market expansion [26][30] - Management acknowledged the hard work required for integration but remains committed to achieving financial and client-centric goals [71] Other Important Information - The company has maintained a 93% associate retention rate, indicating strong employee engagement and stability during the merger process [72] - The effective tax rate for 2025 is projected to be in the low 18% range, consistent with the previous year [26] Q&A Session Summary Question: Are there enough revenue producers in the market to hire? - Management indicated that while there may not be 300 revenue producers available immediately, the hiring strategy has historically proven effective in identifying talent over time [33][34] Question: How does the pro forma balance sheet affect BHG's use case? - Management believes that BHG's growth will remain consistent, with no significant changes in approach post-merger [38][40] Question: Will the hiring strategy change post-merger? - Management expressed confidence that the existing hiring strategy will continue to be successful, emphasizing the unique approach to recruitment [52][56] Question: What are the expectations for BHG's growth into 2026? - Management anticipates continued growth for BHG, albeit at a more moderate rate compared to the current year [45][46] Question: What are the tailwinds for margin improvement? - Management identified deposit beta, growth in non-interest bearing deposits, and fixed-rate loan repricing as key factors contributing to margin improvement [77][78]