Operator

Greetings. Welcome to Ready Capital's First Quarter 2026 Earnings Call.[Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to Andrew Ahlborn, Chief Financial Officer. Thank you. You may now begin.

Andrew Ahlborn
CFO & Secretary

Thank you, operator, and good morning to those of you on the call. Some of our comments today will be forward-looking statements within the meaning of the federal securities laws. Such statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect. Therefore, you should exercise caution in interpreting and relying on them. We refer you to our SEC filings for a more detailed discussion of the risks that could impact our future operating results and financial condition.

During the call, we will discuss our non-GAAP measures, which we believe can be useful in evaluating the company's operating performance. These measures should not be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP. A reconciliation of these measures to the most directly comparable GAAP measure is available in our first quarter 2026 earnings release and our supplemental information, which can be found in the Investors section of the Ready Capital website.

I will now turn it over to Chief Executive Officer, Tom Capasse.

Thomas Capasse
Chairman, CEO & Chief Investment Officer

Thank you, Andrew. Good morning, everyone, and