Operator: Greetings, ladies and gentlemen. Welcome to the Home BancShares Incorporated Fourth Quarter 2012 Earnings Call. The purpose of this call is to discuss the information and data provided in the quarterly earnings release issued this morning. The Company presenters will begin with prepared remarks; then entertain questions.
The Company has asked me to remind everyone to refer to their cautionary note regarding forward-looking statements. You will find this note on Page 3 of their Form 10-K filed with the SEC in March 2012. At this time, all participants are in a listen-only mode and this conference is being recorded.
It is now my pleasure to turn the call over to our first presenter, Mr. Allison.
John W. Allison - Chairman: Thank you, Amie. Welcome everyone to the fourth quarter and year end conference call for Home BancShares. The same group is with me today Randy Sims, Randy Mayor, Brian Davis, Kevin Hester and Donna Townsell our (before) expert has joined us today.
The quarter has little malaise in it, but simply we had a one-time gain it offset some M&A expenses on a one-time loss. It is a great job done by the team for the quarter and for the year. I don't have a lot of comments today. I am just going to kind of hit some high points and turn it over to the team and let team report to numbers. But again it was a great year with – we continue to set records through this company, and this quarter was no exception with record earnings, record EPS, record margin, record core efficiency ratio and record net interest income. They continue to do it. We have a 20% increase in quarterly earnings. Our cost of funds continued to decrease. We saw our first quarter impact of paying-off the trust preferred, and we'll talk more about trust preferred in little bit. We had continued legacy loan growth, as we said last quarter and a quarter before, we don't know if that's going to continue. It's been nice. We had $40 plus million in the third quarter and we have $20 something – $26 plus million in this quarter. So, that was nice. Non-interest expense has been well controlled. The Company is doing a great job on expense side and that resulted in another record quarter.
Also for the year, it was record income, record EPS, margin was strong, one of the strongest margins we've had in a while, and also a record core efficiency ratio. The team continues to crank those expenses and work on the efficiency ratio. We had about $570 million worth of loan growth this year, about $70 million of that we generated from the legacy and about $500 million we bought, but overall there is about 32%, I think so it was, increased in loans pretty substantial. We had a major drop in funds, and again for the year great job on expense control.
Going forward, what's out there to expect. We continue on our goal for Home 250. You can play with the numbers as same as I can play with the numbers we're in a $0.60 quarter plus the fact, we're going to pay-off March 26, 2013, we'll pay-off $20 million to $25 million in additional trust preferred.