Good afternoon, and welcome to the Territorial Bancorp Inc. annual meeting of shareholders. I would now like to introduce the first presenter, Chairman of the Board, President, and CEO, Mr. Kitagawa. Good morning, ladies and gentlemen. I am Allan Kitagawa, Chairman of the Board, President, and Chief Executive Officer of Territorial Bancorp Inc. It is my pleasure on behalf of the directors and officers of Territorial Bancorp Inc. and Territorial Savings Bank to extend to you a warm welcome and to express our appreciation to you for attending this meeting. We appreciate your understanding and accommodation as we work to keep everyone safe by conducting this meeting virtually. Copies of the rules of conduct governing this meeting, as well as proxy statement and annual report, are available at the bottom of this webpage. The principal business of this annual meeting is to elect two directors, ratify the appointment of the independent registered public accounting firm for the year ending December 31st, 2021, and approve our executive compensation. If you have logged into this virtual meeting as a stockholder with your voting control number, you can vote on the proposals that are included in the proxy statement now and until the closing of the polls by clicking the Vote button on the webpage portal and following the instructions. The polls will close after all proposals have been discussed. Please note that if you have already voted and do not wish to change your vote, it is not necessary to vote again. Additionally, if you logged into this virtual meeting as a stockholder with your voting control number, you may submit questions regarding the proposals to be voted on at this meeting by typing your question in the box titled Ask a Question and clicking Submit. I encourage you to include your name and contact information with the question. If a question isn't germane to the business of the meeting, we may not discuss it at this meeting, but we'll provide a response directly to the stockholder asking the question if possible. Directly to the stockholder asking the question if possible. Before we move on to official business, I would like to introduce those members of our board of directors, Howard Ikeda, Francis Tanaka, John Ohama, Kirk Caldwell, David Murakami, and Jennifer Isobe. At this time, I would like to present to you the Corporate Secretary of Territorial Bancorp Inc., Vernon Hirata, who also serves as Vice Chairman, Co-Chief Operating Officer, and General Counsel. Mr. Hirata, has the notice of this meeting been sent to all stockholders entitled to vote at this meeting? Yes, Mr. Chairman. I have here an affidavit, sworn to by myself and duly signed, stating that notice has been mailed to each stockholder as required under the bylaws. In addition, resolutions were adopted by the board of directors of Territorial Bancorp Inc. providing for the meeting to be held at this time on a virtual basis. The board also fixed March 12th, 2021, as the record date for determining stockholders entitled to notice of and to vote at this annual meeting. Thank you, Mr. Hirata. Please file a copy of the notice, the affidavit as to the mailing of notice, and the excerpt from the board meeting setting the date and time of this meeting with the minutes for this meeting. Steven Kwok, our representative of Kwok & Company CPAs, has been appointed the inspector of election. Mr. Kwok, will you please present your report of the attendance at this meeting so that we may determine whether a quorum is present? Mr. Chairman, there were 9,513,867 shares entitled to vote as of March 12, 2021, record date. The proxy committee of the board of directors is acting as proxy and representative of holders of records of 7,457,950 shares of common stock of the company. Thank you, Mr. Kwok. On the basis of the reports of the corporate secretary and inspector of election, I find that proper notice has been given and a quorum is present. Accordingly, this meeting has been properly convened. If you would like to vote and have logged into this virtual meeting as a stockholder with your voting control number, you may vote by clicking the Vote button on the webpage portal and follow the instructions. The polls will close after all proposals have been discussed. As I previously noted, if you have already voted and do not wish to change your vote, it is not necessary to vote again. The proxies solicited by the board of directors can be tallied at one time, even though they contain three matters for consideration. Similarly, the ballot that any one of you here seeks to cast electronically can be handled in the same way. Accordingly, I intend to introduce each matter separately. At the conclusion of the discussion of all items, we will close the poll. Mr. Hirata, were there any stockholder nominations or proposals for business for this meeting properly filed with you as Corporate Secretary? No, Mr. Chairman. Since no stockholder nominations or proposals were properly filed with the corporate secretary in advance of this meeting, as provided in the bylaws, the business of this meeting is limited to three matters stated in the agenda. The first proposal to be considered today is the election of two directors. The board of directors has nominated Allan S. Kitagawa and John M. Ohama to serve three-year terms as directors, which terms would expire at the annual meeting of stockholders to be held in 2024, and until such later time as their successors are elected and qualified. All nominees are presently directors of Territorial Bancorp Inc. and Territorial Savings Bank. Additional information concerning the nominees, their service with Territorial Bancorp, and other matters that may be of interest are contained in the proxy statement. The second proposal to be considered is the ratification of the appointment of Moss Adams LLP as the independent registered public accounting firm for the year ending December 31st, 2021. The following resolution is proposed. Resolved that appointment of Moss Adams LLP as independent registered public accounting firm of Territorial Bancorp Inc. for the year ending December 31st, 2021, having been presented to and considered at this meeting, be and hereby is ratified and approved in all respects. The third proposal to be considered this meeting is the approval of our executive compensation as described in the proxy statement. The following resolution is proposed. Resolved that the compensation paid to the company's named executive officers as disclosed in a proxy statement pursuant to Item 402 of the Securities and Exchange Commission Regulation S-K, including the compensation table and narrative discussion, is hereby approved. Mr. Hirata, were there any questions of stockholders related to the proposals presented? No, Mr. Chairman. Thank you, Mr. Hirata. Would Broadridge please close the polls for voting? I see the vote tally is complete. Mr. Kwok, would you now present your report on the vote? The report confirms that a quorum is and has been in attendance at the annual meeting for all purposes. The report further confirms that all directors nominated by the board have been duly elected, and the appointment of Moss Adams LLP as independent registered public accounting firms for the year ending December 31st, 2021, has been ratified. Stockholders have also voted to approve executive compensation as described in the proxy statement. The report of the Inspector of Election as presented is accepted. Mr. Hirata, please safeguard the proxies and the vote and certificate and report of the Inspector of Election and maintain them among the records of the company. I would like to thank all of you for attending today's meeting and for the interest you have shown in the affairs of your company. If you submitted a question and we did not answer it during the meeting, we will answer the question as best as we can in the next few days by email. This meeting is adjourned. Thank you. The annual general meeting for Territorial Bancorp Incorporated has now come to an end. Thank you for attending. You may now leave the virtual meeting.
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