Operator: Good morning. My name is Alicia, and I will be your conference operator today. At this time, I would like to welcome everyone to the Fifth Third Bank Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session.
Thank you. I would now turn today's call over to Mr. Richardson, Director of Investor Relations. Sir, you may begin.
Jeff Richardson - Director, IR: Thanks Alicia. Good morning. Today, we'll be talking with you about our second quarter 2013 results. This call may contain certain forward-looking statements about Fifth Third pertaining to our financial condition, results of operations, plans and objectives. These statements involve certain risks and uncertainties. There are a number of factors that could cause results to differ materially from historical performance in these statements. We've identified some of these factors in our forward-looking cautionary statement at the end of our earnings release and in other materials, and we encourage you to review them. Fifth Third undertakes no obligation and would not expect to update any such forward-looking statements after the date of this call.
I'm joined on the call by several people; our CEO, Kevin Kabat; and CFO, Dan Poston; as well Greg Schroeck from Credit; Tayfun Tuzun from Treasury; and Jim Eglseder of Investor Relations. During the question-and-answer period, please provide your name and that of your firm to the operator.
With that, I'll turn the call over to Kevin Kabat. Kevin?
Kevin T. Kabat - President and CEO: Thanks Jeff. Fifth Third reported second quarter net income to common shareholders of $594 million and earnings per diluted share of $0.66. Earnings this quarter included a benefit from gains on the sale of a portion of our Vantiv stake and higher valuation on the Vantiv warrant which together contributed about $0.22 of benefit.
There are a few smaller items during the quarter that were modestly detrimental on a net basis which Dan will discuss in more detail. Year-over-year, earnings per share increased 22%, excluding the impact of Vantiv in both quarters. Return on assets and equity were strong with and without the Vantiv benefit and tangible book value per share increased 1% sequentially and 7% from a year ago despite the fairly significant impact of share repurchases.
Now turning to the business activity, average sequential portfolio loan growth was 1% with C&I loans up $1.2 billion. Average portfolio loan growth from a year ago is 5% with average C&I and residential mortgage portfolio loans up 15% and 9% respectively.
Period end loans increased 2% sequentially and 6% from last year. These comparisons include the impact of $500 million auto loan securitization during the first quarter.
Average core deposits continued to grow and were up 4% from a year ago. Transaction deposits increased $4 billion or 5% including a very strong 13% growth in demand deposits, primarily in consumer, but with good growth in commercial as well.
Fee income results reflected solid growth from seasonal softness in the first quarter and we produced strong performance in nearly every line item. Corporate banking revenue, mortgage banking net revenue, deposit service charges and card and processing revenue were up mid-single digits. Certainly, things have changed in the mortgage business, but the second quarter for mortgage was still quite strong, and our other fee businesses continued to perform strongly. Dan will cover our expectations of the second half of the year in his remarks.