Despite the increase in non-accrual loans at December 31, 2010, the classified loan portfolio has been reasonably stable throughout most of 2010 and we do not appear to be seeing significant net migration into classified status. That said, we remain cautious as the economy appears to be stabilizing with signs of modest growth re-appearing for the first time in several years. Meaningful loan growth continues to be a struggle but as previously reported, we are seeing better quality relationship opportunities than at any time in the past few years.The Allowance for Loan Losses amounted to $33.1 million at December 31, 2010 representing almost 3% of total loans and 223% of total non-performing loans. In these difficult economic periods with uncertainty still high, this loan loss allowance enables us to maintain our aggressive credit remediation posture. At State Bancorp, we have tried to be forthright and transparent in addressing problems of the past and ultimately we believe our shareholders, employees and clients have been better served by our strategic initiatives. In the context of a severe recession that job has been more complicated than any of us would have liked but, in my opinion, we have built a management team today that is shareholder aligned and fully capable to deliver long-term growth to our investors. We are supported by a Board of Directors that is both invested in the Company's success and diligent in providing oversight and direction. As we look forward to 2011 with a slowly improving economy, we are optimistic about continued and growing profitability for the Company. Inevitably, there will also be accelerated banking consolidation in our markets as the need for scale and the increasing burden of regulatory costs drive M&A activity with renewed vigor. In that context, we remain disciplined in considering various growth opportunities. While we remain in a period of elevated risks and high charge-offs, the opportunities that lie ahead are finally becoming exciting. In my opinion, we are building a banking franchise that is uniquely positioned in our market to provide value to our investors and the superior level of client satisfaction that should continue to burnish our reputation in the metropolitan New York market."