Operator

Thank you for standing by. At this time, I would like to welcome everyone to the Farmer Mac first quarter 2026 earnings conference call. [Operator Instructions]

I would now like to turn the conference over to Jalpa Nazareth, Senior Director of Investor Relations. The floor is yours.

Jalpa Nazareth
Senior Director of Investor Relations & Finance Strategy

Good afternoon, and thank you for joining us for our first quarter 2026 earnings conference call. I'm Jalpa Nazareth, Senior Director of Investor Relations and Finance Strategy here at Farmer Mac.

As we begin, please note that the information provided during this call may contain forward-looking statements about the company's business, strategies and prospects. These statements are based on management's current expectations and assumptions, and are subject to risks and uncertainties that could cause our actual results to differ materially from those projected. All forward-looking statements are based on information available to Farmer Mac as of today's date and Farmer Mac assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Please refer to Farmer Mac's 2025 annual report on Form 10-K and subsequent SEC filings for a full discussion of the company's risk factors.

On today's call, we will also be discussing certain non-GAAP financial measures. Disclosures and reconciliations of these