Welcome to the Landmark Bancorp Quarter Four Earnings Conference Call. [Operator Instructions]. I would now like to turn the conference over to Mr. Michael Scheopner, President and CEO. Please go ahead.

Thank you and good morning. Thank you for joining our call today, to discuss Landmark's earnings and results of operations for the fourth quarter and the fiscal year ending December 31, 2016. Joining the call with me today, to discuss various aspects of our fourth quarter and full-year performance, are Mark Herpich, Chief Financial Officer for the Company; and Brad Chindamo, the Company's Credit Risk Manager. Before we get started, I would like to remind our listeners that some of the information we will be providing today falls under the guidelines for forward-looking statements as defined by the Securities and Exchange Commission. As part of these guidelines, I must point out that any statements made during this presentation that discuss our hopes, beliefs, expectations or predictions of the future, are forward-looking statements and that our actual results could differ materially from those expressed. Additional information on these factors is included from time to time in our 10-K and 10-Q filings which can be obtained by contacting the Company or the SEC. Landmark reported net earnings of $2.1 million or $0.53 per share on a fully diluted basis for the fourth quarter of 2016 and our full-year 2016 net earnings totaled $9 million. Landmark's 2016 return on average assets calculates to 1%, the Company's return on average equity for 2016 was 10.34%. By way of perspective, Landmark's net earnings in 2016 were approximately double our level five years earlier in 2011 and total assets have grown more than 50% in that time. Mark and Brad will provide additional detail on Landmark's financial performance and asset quality metrics later in the call. I'm pleased to report that our Board of Directors has declared a cash dividend of $0.20 per share to be paid March 1, 2017 to shareholders of record as of…

Thanks, Michael and good morning to everyone. Michael has already summarized our earnings for the fourth quarter and year ended December 31, 2016. I would like to make a few comments on various elements comprising those results. While our full-year 2016 net earnings of $9 million were lower than 2015's net income of $10.5 million, earnings remained solid as evidenced by achieving a 1% return on average assets. The lower comparison for 2016 earnings versus 2015, related primarily to the impact of a first quarter 2015 credit provision for a $1 million reversal of loan loss expense which followed a large recovery on a previously charged off loan and the reduced volumes and gains on sales of loans in 2016 resulting from the departure of a few mortgage lenders. Turning to the fourth quarter income statement highlights net interest income was $6.5 million, a decrease of $50,000 or 0.08% in comparison to the prior year's fourth quarter. The slight decline in net interest income was attributable to lower yields on interest-earning assets and higher rates on interest-bearing deposits and borrowings which resulted in a decline in our net interest margin from 3.54% in the fourth quarter of 2015, to 3.4% in the same period of 2016. Partially offsetting the net interest margin decline was a $32.3 million or 4.1% increase in average interest-earning assets to $817.4 million in comparison to the prior year fourth quarter period. Looking at our provision for loan losses, we did not provide to the allowance in either the fourth quarter of 2016 or 2015 as we concluded the allowance for loan losses was adequate at December 31 in both years. Noninterest income decreased $823,000 to $3.3 million for the fourth quarter of 2016, down 20.1% as compared to the same period of 2015. The decrease…

Thanks Mark and good morning to everyone. Net loans outstanding as of December 31, 2016 totaled $420.5 million, this is a small increase from our net loan total of $420 million on December 31, 2015. The net totals were impacted by two large payoffs in December that totaled in excess of $10 million. These payoffs were anticipated and included a large previously criticized loan. Nonaccrual loans which primarily consist of loans greater than 90 days past due, totaled $2.7 million or 0.64% of gross loans as of December 31, 2016, this compares to a level of 0.51% as of year-end 2015. Our credit risk and collection efforts continue to focus on reducing these totals. Another indicator we monitor as part of our credit risk management efforts, is our level of loans past-due 30 to 89 days. The level of past-due loans between 30 and 89 days still accruing interest as of December 31, 2016, totaled $756,000 or 0.18% of gross loans, this is a decline from 0.33% of gross loans as of December 31, 2015. We continue to monitor delinquency trends carefully in all are loan categories. Our balance and other assets, real estate owned, totaled $1.279 million, as of December 31, a slight increase from $1 million at year-end 2015. The other real estate owned balances are primarily comprised of residential housing properties. We continue to market for sale all properties held in real estate owned. We recorded net loan charge-offs of $1.1 million during 2016, primarily from a previously identified problem commercial loan and two agricultural loans, one of which is now in troubled debt restructure status, this compares to net loan recoveries of $1.3 million in 2015. Significant recovery in 2015 was a result of continued collection efforts on a construction loan that had been previously charged…

Thank you Brad and Mark, thank you also for your comments. Before we go to questions, I want to summarize by saying that we're pleased with Landmark's operating results for the fourth quarter and for the fiscal year ending 2016. These results continue a trend of strong core earnings across all of our community banking lines of business. We believe that the Company's risk management practices and capital strength continue to position us well for long term growth. And I anticipate our trend of solid earnings will continue in 2017. With that, I'll open the call up to questions that anyone might have.

Thank you. And I want to thank everyone for participating in today's earnings call. I appreciate your continued support and the confidence that you have in our Company. And I look forward to sharing news related to our first quarter 2017 results at our next earnings conference call. Thank you.

The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.