Ken Vecchione, President and Chief Operating Officer, added, “Our core earnings, defined as Pre-tax, Pre-provision income, grew again for the eleventh consecutive quarter. 1 Contributing to the rise in income, net interest margin increased from prior quarter while loan growth continues its acceleration from prior year. This quarter Western Alliance’s ROA grew to 67 bps, double the performance of last year. In April, Torrey Pines Bank opened its second Los Angeles branch as we begin to penetrate the attractive Los Angeles market.”Western Alliance Bancorporation reported net income of $11.3 million, or $0.12 per share in the first quarter 2012 including $1.3 million after-tax charge from repossessed assets valuations/sales. Total loans increased $146 million, or 3.1 percent, to $4.93 billion at March 31, 2012 from $4.78 billion on December 31, 2011. This increase was driven by growth in commercial and industrial loans, commercial leases and commercial real estate loans. Loans increased $648 million from March 31, 2011. Qualifying Small Business Fund Loans grew $82 million during the quarter to $169 million or 11.2% from the baseline at March 31, 2012. Total deposits increased $241 million, or 4.3 percent, to $5.90 billion at March 31, 2012 from $5.66 billion at December 31, 2011, with growth primarily in non-interest bearing demand, interest bearing demand and money market accounts, partially offset by declines in savings accounts and certificates of deposit. Deposits increased $402 million from March 31, 2011. Income Statement Net interest income of $70.1 million in the first quarter 2012 increased by 2.0 percent compared to the fourth quarter 2011 and 14.7 percent compared to the first quarter 2011. The net interest margin in the first quarter 2012 was 4.53 percent compared to 4.51 percent in the fourth quarter 2011 and 4.35 percent in the first quarter 2011. Operating non-interest income was $5.9 million for the first quarter 2012, an increase from $5.6 million for the fourth quarter of 2011 and decrease from $6.0 million for the first quarter of 2011. 1 Net revenue was $75.9 million for the first quarter 2012, a 2.2 percent increase from $74.3 million for the fourth quarter of 2011 and 13.1 percent from $67.1 million for the first quarter 2011. 1 Operating non-interest expense was $44.2 million for the first quarter 2012, compared to $42.8 million for the fourth quarter of 2011 and $41.8 million for the first quarter of 2011. 1 The Company’s operating efficiency ratio on a tax equivalent basis was 57.0 percent for the first quarter 2012, improved from 61.9 percent for the first quarter 2011. 1 The Company had 951 full-time equivalent employees at March 31, 2012, compared to 894 one year ago.