Mr. Cornelsen stated that "We continue to generate strong organic loan growth while maintaining above average margins. We have also added talent to sustain the balance sheet growth, expand fee income opportunities and strengthen our infrastructure to support continual growth and the completion of the WSB merger. This staffing growth combined with the costs associated with resolving non-performing assets and the closure of one branch had a negative impact on first quarter earnings. We anticipate that these actions will enhance future profitability by reducing expenses associated with maintaining foreclosed real estate and operating the branch. We also expect that the new Montgomery County, Maryland loan production office and the Old Line Financial Services team will increase interest and fee income. We will continue to make decisions based upon long term benefits even when these decisions may impact short term profitability."The decrease in net income available to common stockholders, during the first quarter of 2013 compared to the first quarter of 2012, was primarily the result of a $1.2 million, or 20.99%, increase in total non-interest expense, which was partially offset by an $85,000 increase in net interest income, a $175,000 decrease in the provision for loan losses and a $148,000 increase in non-interest revenue. The growth in non-interest expenses, as compared to the first quarter of 2012 was mainly attributable to increases in salaries and benefits, merger and integration expenses, occupancy and equipment expenses and other operating expenses. Salaries and benefits increased by $424,000 or 15.08%, when compared to the first quarter of 2012 primarily as a result of the addition of the Montgomery County lending team and the Old Line Financial Services group during the second half of 2012. We anticipate these teams will generate increased interest and non-interest income that will more than offset the increased cost during 2013 and beyond. During the first quarter of 2013, we also added an Executive Vice President who we expect will enhance our core operational capabilities. The work associated with the acquisition of WSB caused merger and integration expenses to increase $211,000 compared to the same period in 2012. Occupancy and equipment expenses increased $161,000 or 17.73% compared to the same period in 2012 primarily due to the acceleration of the remaining lease expense for the Old Line Centre branch which we closed on March 29, 2013. Other operating expenses increased approximately $400,000 compared to the same period in 2012 primarily as a result of an approximately $265,000 increase in legal and other expenses associated with disposing of and maintaining foreclosed properties, a $45,000 increase in director compensation and recognition of the $51,000 stock option expense in the quarter for the grant of options that vested immediately.