I thought I would update this thread as I have found a solution.
After a long chat with Adobe Tech Support, the rep suggested I turn all of my media into a different format. The media was acquired in the .mlr format (Magic Lantern raw) and converted into Cinema DNGs using RAWMagic from the App store before being brought into Premiere. I converted everything to ProRes 444, and the problem went away!
Thank you again for all of your contributions. I really appreciate it.