Which code executes faster and why
((Form)controls.Owner).Text = langfile.ReadString(
FormName, ((Form)controls.Owner).Name, ((Form)controls.Owner).Text);
or
Form form = (Form)controls.Owner;
form.Text = langfile.ReadString(FormName, form.Name, form.Text);
The second form may be very slightly faster (only one execution-time check instead of three) but that’s almost certainly going to be insignificant.
However, the readability of the second is much much better than the first – so go with the second form, for that reason. Your order of development should be: