Operator: Good day, ladies and gentlemen and welcome to the First Horizon National Corporation Fourth Quarter 2012 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will be given at that time. As a reminder, this call may be recorded.
I would now like to introduce your host for today's conference Ms. Aarti Bowman. You may begin.
Aarti Bowman - IR: Thank you, operator. Please note that the press release and financial supplement which announced our earnings, as well as the slide presentation we'll use in this call this morning are posted on the Investor Relations section of our website at www.fhnc.com.
In this call, we will mention forward-looking and non-GAAP information. Actual results may differ from the forward-looking information for a number of reasons outlined in our earnings announcement materials and our most recent annual and quarterly reports. Our forward-looking statements reflect our views today and we are not obligated to update them.
The non-GAAP information is identified as such in our earnings announcement materials and in the slide presentation for this call and it is reconciled to GAAP information in those materials. Also, please remember that this webcast on our website is the only authorized record of this call.
This morning's speakers include our CEO, Bryan Jordan; and our CFO, BJ Losch. Additionally, our Chief Credit Officer, Susan Springfield will be available with Bryan and BJ for questions.
I'll now turn it over to, Bryan.
Bryan Jordan - Chairman, President and CEO: Thank you, Aarti. Good morning and thanks for joining our call. 2012 marked another year of progress for First Horizon as we continue to successfully execute on our strategic priorities. We grew regional bank loans and deposits improving our balance sheet and business mix.
We reduced expenses achieving near term productivity and efficiency goals and we made significant progress in winding down the non-strategic segment, reducing its future earnings drag. We also stepped up our return of capital to shareholders repurchasing $131 million of common stock in 2012 versus $44 million in 2011.
I'm pleased with our accomplishments in 2012. Year-over-year the regional banks pre-provision net revenue rose about 7% driven by a 6% increase in net interest income. Our bankers focused on service resulted in positive balance sheet trend as we deepened customer relationships. Year-over-year average core deposits were up 11% in the regional bank. The bank increased average loans 10% from 2011, driven by 12% growth in the C&I portfolio.
The regional bank net interest spread remained relatively stable at 353 basis points in the fourth quarter of 2012, down 3 basis points from the fourth quarter of 2011. Loan growth in the bank offset a 17% decline in the non-strategic portfolio, resulting in a year-over-year increase of 2% in consolidated period period-end loans.
Our other core business capital market also achieved solid performance, continuing to provide a strong source to fee income, producing a higher rate, a higher return on capital and a full year 2012 ROA of 2.5%. Full year revenues declined slightly due to lower fixed income activity. Over the past year, we continued to selectively add to our sales and trading team and to expand our product offer and a well-positioned at FTN Financials.