Luis de la Aguilera | executive |
Robert Anderson | executive |
Benigno Pazos | executive |
Brady Gailey | analyst |
Michael Rose | analyst |
Feddie Strickland | analyst |
Good morning, and thank you for joining us today for USCB Financial Holdings' Second Quarter 2023 Earnings Call. With me today reviewing our second quarter highlights is CFO Rob Anderson and Chief Credit Officer Ben Pazos, who will provide an overview of the bank's performance, the highlights of which you can see on Slide 3. The past quarters saw the market react, process and respond to the collapse of 3 high-profile regional banks. The news on some financial markets triggered a crisis in confidence amongst consumers and a deposit light to the perceived safety of our Too Big to Fail brethren. At U.S. Century Bank, we build business relationships based on the best-in-class service products and people as our clients look to us for support and guidance. The USCB team responded immediately to the March events, contacting our clients directly to [indiscernible] concerns, answer their questions and most importantly, educate them on their options for obtaining additional FDIC insurance coverage. To this point, the bank has reduced its uninsured deposit ratio by 10% over the past 2 quarters as interested clients opt for available ICS and CDARS deposit products at U.S.