Operator: Good morning and welcome to the Susquehanna Bancshares Second Quarter 2013 Earnings Conference Call. Today's call is being recorded. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session. Instructions will be given at that time.
Mr. Lundblad please begin.
Carl D. Lundblad - SVP. IR: Thanks Jake. Good morning, and welcome everyone. I'm Carl Lundblad and I serve as Senior Vice President at Susquehanna Bancshares. Our press release containing financial results for the second quarter of 2013 was made available yesterday after market close. You can find this and our other financial releases in the Investor Relations section of our website at www.susquehanna.net.
Certain statements made during this conference call may be considered to be forward-looking statements. In particular, certain statements made on this call may include forward-looking statements relating to 2013 financial targets, loan volume and growth, our mortgage business and revenue, the impact of branch consolidations and purchase accounting benefits on our financial results and the application of regulatory capital requirements.
Such statements are not guarantees of future performance and are subject to certain risks and uncertainties. The factors that may cause actual results to differ materially from expectations are detailed in the press release and our SEC filings. We encourage you to refer to such filings including the Form 8-K filed yesterday containing our earnings release and our most recent Forms 10-K and 10-Q for a complete discussion of forward-looking statements.
Forward-looking statements speak only as of the date they are made. We do not intend to update publicly any forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made or to reflect the occurrence of unanticipated events, except as required by law.
I'm pleased now to introduce the host for our call, Bill Reuter, Chairman and Chief Executive Officer.
William J. Reuter - Chairman and CEO: Thank you, Carl and good morning everyone and thank you for joining us. Also participating in this morning's call will be Mike Harrington, Executive Vice President and Treasurer, Drew Hostetter, Executive Vice President and Chief Financial Officer and Mike Quick, Executive Vice President and Chief Credit Officer. Our second quarter results demonstrate how our team is successfully implementing the key elements of our strategic plan.
Over the past year, we achieved strong growth in commercial and consumer loans, core deposits and non-interest income. This success is also evident in our profitability metrics as our return on average tangible equity, return on average assets and efficiency ratio have all experienced significant improvement.
In the second quarter, we earned net income of $45.6 million or $0.24 per share compared to $37.8 million or $0.20 per share in the second quarter of 2012. For the first half of the year, net income was $88 million or $0.47 per share compared to $61.3 million or $0.34 per share during the first two quarters last year, now loans and leases were $13.2 billion at the end of the quarter as we discussed in last quarter's call the market for quality loan relationships is very competitive.