Financial Data and Key Metrics Changes - Core FFO for the second quarter was $0.59 per share, a $0.01 increase over the prior quarter when excluding one-time termination revenue recognized in the first quarter [9] - The company reaffirmed its full year 2025 core FFO outlook of $2.37 to $2.41 per share [9] - The balance sheet ended the quarter with over $1.8 billion of liquidity, including $560 million of cash and a net debt to EBITDA ratio of four times [11] Business Line Data and Key Metrics Changes - Executed 1.7 million square feet of leases in the quarter, with net effective and cash leasing spreads for comparable leases at 218% respectively [3][4] - Same property occupancy increased to 96.1%, up 40 basis points sequentially, with positive net absorption of 220,000 square feet [4] - Market rents across the portfolio declined approximately 3.5% sequentially and 12.8% year over year [5] Market Data and Key Metrics Changes - Leasing activity on approximately 80% of vacant spaces, up significantly from 60% a year ago [6] - The company sold two properties totaling $82 million, bringing year-to-date dispositions to $134 million at a weighted average cap rate in the low 4% range [7] Company Strategy and Development Direction - The company remains focused on its irreplaceable infill Southern California portfolio, which is expected to benefit from persistent supply constraints and strong demand [8] - The strategy includes capital allocation towards repositioning and redevelopment projects, which are projected to contribute an additional $70 million of incremental NOI [10] Management's Comments on Operating Environment and Future Outlook - Management noted that while leasing activity remains steady, macroeconomic and tariff uncertainties are impacting tenant decision-making, putting pressure on overall demand [4] - The company expects lower interest expenses due to favorable interest rates on its term loan, despite some delays in rent commencements [10] Other Important Information - The company has approximately $54 million of dispositions under contract, subject to customary closing conditions [8] - The cash mark to market for the portfolio stands at 3%, contributing about $20 million of incremental NOI to the embedded growth profile [10][25] Q&A Session Summary Question: Future repositioning and redevelopment starts - Management indicated that the pipeline is fluid and subject to change, with the Hertz asset being a significant driver for future NOI [15][18] Question: Cash mark to market trends - Management stated that the cash mark to market is currently at 3% and future trends will depend on market rent growth, emphasizing that growth is not solely dependent on this metric [22][25] Question: Capital allocation and acquisition opportunities - Management confirmed a measured approach to acquisitions, focusing on opportunities that meet stringent underwriting criteria and drive cash flow accretion [27][29] Question: Delays in rent commencements - Management expressed confidence in achieving projections despite pushing out lease-up timing by about one month on average due to current market dynamics [33][35] Question: Tenant behavior and lease terms - Lease terms have remained steady, with strong renewal activity and an increase in early renewals, indicating tenant confidence [40][41] Question: Market rent growth and volatility - Management acknowledged a decline in market rents due to tariff policy volatility but noted continued leasing activity and progress on redevelopment projects [44][46] Question: Cap rates and user purchases - Management highlighted that user sales have influenced cap rates, with current market cap rates in the low 5% range [50][53] Question: Occupancy outlook for the second half of the year - Management expects some deceleration in occupancy due to planned move-outs, maintaining guidance of 95.5% to 96% [55][56] Question: Conversion rates and demand - Management reported that conversion rates are taking longer, but the majority of leasing activity is expected to convert into executed leases [62]

Financial Data and Key Metrics Changes - Funds from operations (FFO) for Q2 2025 were $0.76 per fully diluted share, an increase from $0.66 per share in Q2 2024, reflecting strong performance [16] - Cash same store net operating income (NOI) growth for the quarter was 8.7%, driven by increases in rental rates and new and renewal leasing [16] - In-service occupancy at the end of the quarter was 94.2%, down 110 basis points from the previous quarter [17] Business Line Data and Key Metrics Changes - Overall cash rental rate increase for new and renewal leasing was 33%, with a 38% increase when excluding a large fixed-rate renewal in Central Pennsylvania [11] - Approximately 2,500,000 square feet of leases commenced during the quarter, with 400,000 being new leases and 2,100,000 being renewals [17] Market Data and Key Metrics Changes - Vacancy in Tier one U.S. markets was 6.3% at the end of Q2, up 30 basis points compared to the prior quarter [10] - Nationally, net absorption year-to-date totaled 16,000,000 square feet, with 5,000,000 square feet in target markets [10] - New construction start volume was 62,000,000 square feet in Q2, down from 66,000,000 in Q1 2025 and 72% lower than the peak in Q3 2022 [10] Company Strategy and Development Direction - The company remains focused on securing and serving existing and new customers to drive long-term cash flow growth [23] - The company is executing new starts in markets with good fundamentals and unmet demand [26] - The company plans to maximize value from its Camelback project and is considering various strategies for its remaining land [40] Management's Comments on Operating Environment and Future Outlook - Management noted that uncertainty around tariffs continues to dampen decision-making momentum [7] - There is a positive outlook for improved confidence and investment in new growth initiatives once the tariff situation becomes clearer [23] - Management expressed that the demand side is a key issue, with tenants needing the right fit at the right time [53] Other Important Information - The company was upgraded by Fitch to BBB+ and launched a $450,000,000 public bond offering at a coupon rate of 5.25% [14] - Guidance for NAREIT FFO for the year remains at $2.92 per share at the midpoint, with a range narrowed to $2.88 to $2.96 per share [19] Q&A Session Summary Question: How attractive are incremental development starts today compared to three or six months ago? - Management indicated that more consistent development lease signings are needed to deepen new starts, with strong gross leasing activity in the first half of the year [25] Question: Any abnormal or non-recurring items in the second quarter FFO? - Management noted that higher interest expense in the second half of the year would slightly drag down FFO due to funding the development pipeline and the recent bond offering [30] Question: Can you clarify the new lease that was not in the $1,600,000 target? - Management confirmed that the new lease announced has positively impacted the guidance, and the $0.02 per share impact is now $0.00 [36] Question: What is the plan for the Camelback lease? - The plan is to maximize value, with various options being considered for the remaining land [40] Question: How are private industrial developers behaving in the current environment? - Developers are cautious, with some offering elevated concession packages due to increased tenant choices [71] Question: What is the outlook for specific markets? - Nashville is performing strongly, with good demand and little new supply, while certain submarkets in Dallas and Houston are also doing well [106][107]

Financial Data and Key Metrics Changes - Banner Corporation reported a net profit available to common shareholders of $45.5 million or $1.31 per diluted share for Q2 2025, compared to $1.15 per share for Q2 2024 and $1.30 per share for Q1 2025 [5][6] - Core earnings for Q2 2025 were $62 million, up from $52 million in Q2 2024, with revenue from core operations increasing to $163 million from $150 million year-over-year [7][8] - Return on average assets was 1.13% for Q2 2025, reflecting strong core deposit base and net interest margin [7] Business Line Data and Key Metrics Changes - Loan originations increased by 80% compared to the linked quarter, with commercial real estate up 484%, C&I originations up 96%, and construction and land development increasing by 43% [11] - Total loans grew by $265 million during the quarter, with portfolio loans increasing by $252 million or nearly 9% on an annualized basis [17] - Core deposits represented 89% of total deposits, with a 4% increase year-over-year [8][18] Market Data and Key Metrics Changes - The agricultural loans sector saw a 3% increase in the quarter, driven by higher operating costs and seasonal activity [13] - Delinquent loans declined to 0.41% of total loans, down from 0.63% in the previous quarter [14] - Nonperforming assets remained modest at 0.3% of total assets, primarily related to consumer loans [14] Company Strategy and Development Direction - The company continues to focus on maintaining a moderate risk profile while investing in operating performance [6] - Banner's strategy emphasizes growing new client relationships and maintaining core funding positions through a super community bank model [8] - The company remains open to opportunistic M&A but is primarily focused on organic growth [46][48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage through current market uncertainties, citing a strong balance sheet and reputation [6] - There is an expectation of a slight pullback in loan growth in Q3, but management anticipates maintaining a mid-single-digit growth rate for the year [29] - The company is monitoring potential impacts from policy changes and tariffs on small businesses and consumers [15] Other Important Information - Banner was recognized as one of America's 100 Best Banks and received various accolades for trustworthiness and customer satisfaction [9][10] - The company has a strong capital and liquidity profile, allowing it to repay $100 million of subordinated notes [18] Q&A Session Summary Question: Improvement in loan originations - Management noted that the increase in originations pulled some of the pipeline out, with expectations of mid-single-digit growth for the year despite a potential pullback in Q3 [28][29] Question: Competition on the deposit side - Management indicated that they are not currently seeing increased competition for deposits, maintaining a focus on relationship banking to drive core deposits [32][33] Question: Funding loan growth - The company plans to use FHLB advances to bridge any gaps in funding due to seasonal deposit outflows, with expectations for deposit growth in Q3 [36][37] Question: M&A environment - Management acknowledged a more amicable M&A environment but emphasized a focus on organic growth rather than feeling compelled to pursue acquisitions [46][48] Question: Credit quality and risk ratings - Management reported a mix of upgrades and downgrades in credit quality, with particular attention to the agricultural sector experiencing more downgrades due to commodity price pressures [56][57]

Financial Data and Key Metrics Changes - Banner Corporation reported a net profit available to common shareholders of $45.5 million or $1.31 per diluted share for Q2 2025, compared to $1.15 per share for Q2 2024 and $1.30 per share for Q1 2025 [5][6] - Core earnings for Q2 2025 were $62 million, up from $52 million in Q2 2024, with revenue from core operations increasing to $163 million from $150 million year-over-year [7][8] - Return on average assets was 1.13% for Q2 2025, reflecting strong core performance [8] Business Line Data and Key Metrics Changes - Loan originations increased by 80% compared to the linked quarter, with commercial real estate up 484%, C&I originations up 96%, and construction and land development increasing by 43% [12] - Total loans grew by $265 million during the quarter, with portfolio loans increasing by $252 million or nearly 9% on an annualized basis [19] - Core deposits represented 89% of total deposits, with a 4% year-over-year increase in core deposits [9][20] Market Data and Key Metrics Changes - The agricultural loans sector saw a 3% increase in the quarter, driven by higher operating costs and seasonal activity [14] - Delinquent loans decreased to 0.41% of total loans, down from 0.63% in the previous quarter [14][15] - Nonperforming assets remained modest at 0.3% of total assets, with nonperforming loans totaling $43 million, primarily related to consumer loans [15] Company Strategy and Development Direction - The company continues to focus on its super community bank strategy, emphasizing client relationships, core funding, and safety through economic cycles [8][9] - Banner Corporation aims to maintain a moderate risk profile while investing in operational improvements to enhance performance [6][9] - The company received multiple accolades, including being named one of America's 100 Best Banks and recognized for retail client satisfaction [10][11] Management's Comments on Operating Environment and Future Outlook - Management noted that economic uncertainty has not significantly impacted loan growth, with strong originations and growth observed in Q2 [17] - The company expects a slight pullback in loan growth in Q3 but maintains a mid-single-digit growth rate projection for the year [30] - Management remains focused on organic growth while being open to opportunistic M&A, emphasizing the success of their current business model [49] Other Important Information - The company reported a core dividend of $0.48 per common share, reflecting strong financial performance [9] - Total securities decreased by $55 million primarily due to normal portfolio cash flows [19] - The company called and repaid $100 million of subordinated notes, reflecting strong capital and liquidity positions [20] Q&A Session Summary Question: Follow-up on loan originations and customer confidence - Management indicated that the increase in originations pulled some of the pipeline out, with expectations of mid-single-digit growth for the year despite potential pullbacks in Q3 [29][30] Question: Competition on the deposit side - Management noted that they are not currently seeing increased competition for deposits, maintaining a focus on relationship banking to drive core deposits [33][34] Question: Funding loan growth amid deposit growth - Management confirmed that FHLB advances were used to temporarily fund loan growth, with expectations for deposit growth to outpace loan growth in Q3 [37][38] Question: M&A environment and strategy - Management acknowledged an increase in M&A activity but emphasized a focus on organic growth, viewing opportunistic M&A as a secondary strategy [49] Question: Credit quality and loan performance - Management clarified that the increase in nonperforming loans was primarily due to residential properties, with agricultural loans experiencing more downgrades due to commodity pressures [61][62]

Financial Data and Key Metrics Changes - Funds from operations (FFO) for Q2 2025 were $0.76 per fully diluted share, an increase from $0.66 per share in Q2 2024 [12] - Cash same store net operating income (NOI) growth for the quarter was 8.7%, driven by rental rate increases and new and renewal leasing [12][13] - In-service occupancy at the end of the quarter was 94.2%, down 110 basis points from the previous quarter [13] Business Line Data and Key Metrics Changes - Overall cash rental rate increase for new and renewal leasing was 33%, and 38% when excluding a large fixed-rate renewal in Central Pennsylvania [8] - Approximately 2,500,000 square feet of leases commenced during the quarter, with 400,000 being new leases and 2,100,000 being renewals [13] Market Data and Key Metrics Changes - Vacancy in Tier one U.S. markets was 6.3% at the end of Q2, up 30 basis points from the prior quarter [6] - Year-to-date net absorption nationally totaled 16,000,000 square feet, with 5,000,000 square feet in target markets [7] - New construction start volume was 62,000,000 square feet in Q2, down from 66,000,000 square feet in Q1 2025 and 72% lower than the peak in Q3 2022 [7] Company Strategy and Development Direction - The company is focused on securing and serving existing and new customers to drive long-term cash flow growth [17] - The company plans to continue executing new starts in markets with good fundamentals and unmet demand [21] - The company remains cautious about new development starts due to the need for more consistent development lease signings [21] Management's Comments on Operating Environment and Future Outlook - Management noted that uncertainty around tariffs continues to dampen decision-making momentum [5] - There is an expectation for improved confidence and timely decision-making once the tariff situation becomes clearer [17] - The company anticipates a higher interest expense in the second half of the year due to funding its development pipeline and the recent bond offering [24] Other Important Information - The company was upgraded by Fitch to BBB+ in early May, which facilitated a public bond offering of $450,000,000 at a coupon rate of 5.25% [11] - The guidance range for NAREIT FFO for the year remains at $2.92 per share at the midpoint, with a narrowed range of $2.88 to $2.96 per share [14] Q&A Session Summary Question: How attractive are incremental development starts today compared to three or six months ago? - Management indicated that they would like to see more consistent development lease signings before increasing new starts [20] Question: Is there anything abnormal in the second quarter FFO? - Management noted that higher interest expense in the second half is expected due to funding the development pipeline and the recent bond offering being slightly dilutive [24] Question: Can you clarify the new lease that was not in the $1,600,000 target? - Management confirmed that the new lease announced has positively impacted their guidance, reducing the expected drag on FFO [31] Question: What is the current demand for build-to-suit projects? - Management stated that while they do execute on build-to-suit projects, their platform is more targeted towards speculative development [51] Question: How are private industrial developers behaving in the current environment? - Management observed that where there are more choices, concessions have increased, but there is no material difference across the landscape for developers [67] Question: What is the outlook for specific markets? - Nashville and certain submarkets in Dallas and Houston are performing well, while Southern California saw a 5% decline in market rents from Q1 to Q2 [99][103]

Financial Data and Key Metrics Changes - United Airlines reported a top line revenue increase of 1.7% to a record $15.2 billion in Q2 2025 [25] - Earnings per share (EPS) was $3.87, within guidance and ahead of Wall Street expectations of $3.81 [38] - The company generated over $1.1 billion in free cash flow and ended the quarter with $18.6 billion in liquidity [41][42] Business Line Data and Key Metrics Changes - International flying outperformed domestic, with a decrease in RASM of 1% for international compared to a 7% decrease for domestic [27] - Premium cabin revenues increased by 5.6% year over year, while economy cabin revenues were negative [28] - Cargo performance was strong, with revenue up 4% year over year on record volumes [28] Market Data and Key Metrics Changes - The demand environment showed a six-point positive swing in sales in July compared to Q2, with a double-digit increase in business revenues [31] - Newark's share of New York City sales has largely recovered in July, which is critical for revenue performance [29] - The overall demand environment has improved due to reduced macroeconomic uncertainty, leading to positive year-over-year yields for domestic ticket sales for the first time since February [31][96] Company Strategy and Development Direction - The company continues to focus on revenue diversity, including both basic economy and premium offerings, as a formula for industry-leading margins [12] - United Airlines plans to introduce the Polaris Studio Suite later this year to enhance premium capacity and revenue diversity [36] - The company is optimistic about future growth, particularly with the expected reduction in low-margin airline capacity [30][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of demand and the operational improvements at Newark Airport, which is now performing better than ever [19][20] - The company anticipates continued stabilization in the geopolitical environment, which is expected to drive stronger bookings [40] - Management believes that the industry is transforming into a healthier state, with brand loyalty becoming increasingly important [39] Other Important Information - The company has reduced gross debt by almost $11 billion since the peak level during COVID [42] - United Airlines repurchased $235 million worth of shares during the quarter, leaving $829 million in authorization [43] - The company is targeting net leverage below two times and continues to work towards achieving investment grade [42] Q&A Session Summary Question: On cost performance and distribution expenses - Management highlighted strong cost performance with a 2.2% CASM ex growth in Q2 and noted a long-term trend of decreasing distribution expenses due to more customers choosing direct channels [48][50] Question: On demand recovery and current levels - Management confirmed a six-point inflection in demand compared to Q2, particularly strong for business traffic, and expressed optimism about the recovery trajectory [51][52] Question: On guidance and demand acceleration - Management explained that guidance is conservative, accounting for potential uncertainties, but recent strong bookings suggest that the guidance may prove conservative [60] Question: On competitive positioning against Delta - Management emphasized a focus on returning to solid double-digit margins and highlighted the structural advantages of United's hubs and brand loyalty [71][72] Question: On the Connected Media initiative - Management indicated that they are working on building the technology stack and client roster for Connected Media, aiming to double revenues in 2025 compared to 2024 [114] Question: On fleet deliveries and supply chain - Management reported that Boeing is performing well with narrow-body deliveries, while wide-body deliveries are still uncertain due to engine constraints [118]

Financial Data and Key Metrics Changes - The meeting confirmed that 10,989,589 shares of the company's voting capital stock were present, representing 59.73% of the outstanding voting stock [6][7] - The appointment of Eisner Amper LLP as auditors for the fiscal year 2025 was ratified with 10,922,860 shares in favor, 17,438 against, and 49,291 abstaining [12] Business Line Data and Key Metrics Changes - No specific data on business lines or key metrics was provided during the meeting Market Data and Key Metrics Changes - No specific market data or key metrics were discussed during the meeting Company Strategy and Development Direction and Industry Competition - The company did not provide detailed insights into its strategy or competitive landscape during the meeting Management's Comments on Operating Environment and Future Outlook - Management indicated that remarks and responses would include forward-looking statements, cautioning that actual results may differ significantly from those discussed [14] Other Important Information - The meeting was conducted virtually to enhance stockholder access, and the agenda was made available for review [3] - The final results of the voting will be disclosed in a current report on Form 8-K within four business days of the meeting [13] Q&A Session All Questions and Answers Question: Were there any questions from stockholders? - No questions were received during the Q&A portion, leading to its closure [15]

Financial Data and Key Metrics Changes - United Airlines reported a top line revenue increase of 1.7% to a record $15.2 billion in Q2 2025 [24] - Earnings per share (EPS) was $3.87, exceeding Wall Street expectations of $3.81, and if excluding the impact of Newark disruptions, EPS would have been at the high end of guidance [36][37] - The company ended Q2 with $18.6 billion in liquidity and generated over $1.1 billion in free cash flow [40] Business Line Data and Key Metrics Changes - Consolidated TRASM decreased by 4% on a 5.9% increase in capacity, with adjusted TRASM expected to be down 2% to 3% without Newark's impact [24] - Premium cabin revenues increased by 5.6% year over year, while economy cabin revenues were negative [26] - Cargo performance was strong, with revenue up 4% year over year on record volumes [26] Market Data and Key Metrics Changes - International flying outperformed domestic, with a RASM decrease of 1% for international compared to a 7% decrease for domestic [25] - The Atlantic market experienced a 23% RASM growth since the pandemic but had negative RASM year over year in Q2 [25] - The company noted a significant recovery in Newark, with bookings largely recovered and operational performance improved [17][18] Company Strategy and Development Direction - The company emphasized revenue diversity as a key strategy, including both basic economy and premium offerings [11] - United Airlines plans to further lean into premium products and capacity in the coming years [26] - The company is focused on building domestic connectivity at its hubs and plans to introduce the Polaris Studio Suite to enhance premium capacity [34] Management's Comments on Operating Environment and Future Outlook - Management noted a positive inflection in demand due to reduced macroeconomic uncertainty, with a six-point positive swing in sales in July compared to Q2 [30] - The company expects continued stabilization in the geopolitical environment, which is driving stronger bookings [39] - Management expressed confidence in achieving double-digit margins in the long term, driven by brand loyalty and diversified revenue streams [38] Other Important Information - The company repurchased $235 million worth of shares during the quarter, leaving $829 million in authorization [42] - United Airlines paid down the remaining $1.5 billion balance of its MileagePlus bonds two years early, unencumbering a significant asset [40][41] Q&A Session Summary Question: Cost performance outlook - Management expressed pride in the cost performance, expecting similar results in Q3 and Q4, with distribution expenses decreasing as more customers choose direct channels [45][48] Question: Demand recovery status - Management indicated a six-point inflection in demand, particularly strong for business traffic, and noted that bookings have improved significantly [49][50] Question: Guidance adjustments - Management explained the conservative guidance approach, emphasizing the importance of delivering on commitments while acknowledging strong recent bookings [56][58] Question: Industry capacity dynamics - Management discussed the distinct demand situations among carriers and the natural tendency to push aircraft harder during peak periods, leading to capacity adjustments [96][98] Question: Newark's impact on performance - Management confirmed that the six-point improvement in performance is broad-based, with Newark showing significant recovery [102] Question: JetBlue partnership significance - Management highlighted the importance of the JetBlue partnership for expanding market presence and enhancing customer loyalty [104][106] Question: Connected Media update - Management reported progress in building technology and client roster for Connected Media, aiming to double revenues in 2025 [111] Question: Fleet and supply chain updates - Management noted that Boeing is performing well with narrow-body deliveries, while wide-body deliveries face some constraints [115][116]

Financial Data and Key Metrics Changes - The core transportation business experienced significant revenue growth, with credit quality improving materially [6][17] - The EBITDA margin for the payment segment improved to approximately 14%, with expectations to exceed 40% in the long term [19][20] Business Line Data and Key Metrics Changes - The GreenScreens acquisition is expected to contribute approximately $10 million in contracted annual recurring revenue (ARR), with an increase in average contract value from $37,000 to $80,000 [12][15][46] - The factoring segment is anticipated to continue growing, although invoice sizes may fluctuate due to a mix of larger customers [84][88] Market Data and Key Metrics Changes - The company reported a significant increase in noninterest-bearing deposits, with over half attributed to mortgage warehouse deposit growth and the remainder from payment float growth [101] Company Strategy and Development Direction - The company aims to leverage its data and technology to enhance its intelligence offerings, which are expected to grow faster than other transportation-related businesses [17][50] - The strategy includes integrating acquired data into existing models to improve service offerings and customer engagement [12][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to monetize services and improve margins, emphasizing the importance of maintaining a strong credit quality [6][20] - The company is focused on delivering value to customers and expects to see continued growth in supply chain financing and other segments [94][96] Other Important Information - The resolution of the long-standing issue with the United States Postal Service has been viewed positively, reinforcing the company's commitment to delivering on promises [5][6] - Management highlighted the importance of investments in information security and infrastructure to support business growth and protect against risks [116][120] Q&A Session Summary Question: Early observations on the GreenScreens acquisition - Management noted that integration is underway, with expectations for improved customer engagement and increased average contract values [10][14][46] Question: Expectations for EBITDA margin moving forward - Management anticipates continued improvement in EBITDA margins as revenues scale without a proportional increase in expenses [19][20] Question: Average annual revenue impact from new accounts - The average revenue per account is expected to be around $700 or more, with new accounts initially diluting the average [26][28] Question: Competitive pushback from industry - Management acknowledged competition but emphasized that their offerings are driven by customer demand and are positioned to capture significant market share [30][36] Question: Timeline for breaking even on GreenScreens acquisition - Management indicated that they expect to grow the $10 million run rate faster than other transportation businesses, with a focus on leveraging Triumph's existing customer base [43][46] Question: Credit trends and charge-offs - Excluding impacts from USPS and acquired portfolios, charge-offs were less than $1 million, indicating strong credit performance [51][54] Question: Impact of DAT's acquisition on competition - Management recognized DAT's move into the factoring space but emphasized that competition is a natural part of the market [61][63] Question: Growth in net noninterest expense - Investments in shared services, particularly in information security, are aimed at supporting business growth and ensuring operational integrity [115][120]

OFG Bancorp (OFG) Q2 2025 Earnings Call July 17, 2025 10:00 AM ET Company ParticipantsJosé Fernández - CEO & ChairmanMaritza Arizmendi Díaz - CFOTimur Braziler - Director - Mid-Cap Bank Equity ResearchKelly Motta - Managing DirectorBrett Rabatin - Director - ResearchCésar Ortiz-Marcano - Chief Risk OfficerOperatorGood morning. Thank you for joining OFG's Bancorp Conference Call. My name is Margo, and I'll be your operator today. Our speakers are Jose Rafael Fernandez, Chief Executive Officer and Chairman of ...