Okay, I guess we should get to City National and talk about what’s going on there. We think we have a really good story that is still not quite recognized, so I’ll flip to our first slide. This is just some highlights on our company – the 26 th largest commercial bank; 79 offices including 16 regional offices, and one of the things we’ll talk about later is our wealth management business which is one of the distinguishing features of our company.These are six themes that I’m going to cover today, but one of the themes that I’d like to talk about a little bit, without dredging up the past too much – I’m not going to go back to the whole financial downturn – but one of the things that I think City National did different than many of the regional banks is, for regional banks that were in difficult markets which we were, we came out of the market earlier and we’ve made a substantial amount of investments in our company whether it’s hiring more salespeople or opening more offices. And I do think that we are, and we started seeing it late last year and continue to see it this year, the benefits of adding more salespeople and more offices and more capabilities. So we’re seeing that in numbers. We’re not surprised that we had a strong Q1 and I think that’s a little bit of a takeaway I’d like you all to have about our company, that we have invested, we are focused on the long term, trying to always do well in the short run but our overall focus is long term. So with that we can look at the results. We’re always happy when earnings grow 16%, and the highlights in the quarter were clearly very strong loan growth, good quality loan growth. We’re not getting outside and doing anything new that from a credit quality standpoint is going to cause us a problem later. We’re sticking to our knitting, and our credit quality, the other really clear bright spot in the quarter was fabulous – and I guess I shouldn’t take away from the fact that we continue to grow core deposits at a high rate. We’ve been doing that for so long maybe we take it for granted. But we had a fabulous Q1 and we expect to have a very solid year.
This, in terms of understanding our company and what we do is probably the most important slide. That blue middle part which represents the blue of City National is what we really focus on, and as Steve said, we’re a premier business bank with a big wealth management business. We are not all things to all people and partly we talk about what we’re not. We are not in the retail banking business. We think that in good economies it’s a little bit easier to grow when you’re not in the retail banking business. It’s a fabulous business on its own; we’re just not in it. So we kind of operate between these mega banks and the community banks.Our businesses that we go after are typically $1 million in sales to $250 million in sales, and individuals typically, although we have a new segment we’ve been focused on – preferred banking, which I’ll talk about later – but individuals with investible assets of $1 million and income over $250,000. Also our value proposition, besides having the products and services and investment performance that our clients desire, our big value proposition is service. And we think focusing on this segment we’re able to do that and have the right products for this segment. And speaking of service, since lots of people talk about service we’ve been recognized continuously, and again in 2011 we got seven awards from Greenwich. So I think it’s one thing to talk about your culture is service; it’s another thing to get the awards. So we’re proud of that and I think it’s just a testament to what our clients say about us when they’re asked. Read the rest of this transcript for free on seekingalpha.com