Welcome to the Seacoast Fourth Quarter and Year End 2013 Earnings Conference Call. My name is Larine and I will be your operator for today’s call. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session. Please note that this conference is being recorded. I will now turn the call over to Mr. Dennis Hudson. Mr. Hudson, you may begin.

Thank you very much. As always we like to first of all welcome you to the fourth quarter 2013 conference call. We’d like to direct your attention to the statement that we placed at the end of our press release regarding our forward statements. During the call, we’ll be discussing certain issues that constitute forward-looking statements within the meaning of the Securities and Exchange Act. And our comments are intended to be covered within the meaning of Section 27A of this Act. With me today is Bill Hahl, our CFO; David Houdeshell, our Chief Credit Officer; and Chuck Shaffer who is running our Retail Operation network. 2013 was truly a transformational year for Seacoast. We dramatically increased our market presence across every ones of our business lines. We added new revenues producing personnel to our teams in every area from commercial lending to small business banking to wealth management to mortgage banking. And we implemented better profits as around relationship building in our retail offices our traditional retail offices to help improve our organic growth in our legacy markets. We also rolled out significant investments in our new distribution channels focused on growing small business relationships in several metro areas adjacent to our legacy markets. A distribution channel we call accelerate business which now operates in five locations staffs with some of the best customer acquisition team members in the business. Our internet and our digital distribution platform that’s transformed as well during the year as we added almost 19 I think they added 19 new digital products for both consumers and our business clients. And we saw a tremendous engagement by our customer base throughout the year as almost half of our internet banker – internet banking users moved into our new digital products sweep. We are actually almost…

Thanks Danny. And good afternoon everyone. My remarks will reference to the slide that we posted for the call on our website. And so, I’ll begin with some highlights on slide 3. Net income for the year totaled $52 million including the net tax benefits that Danny referred to of $40 million related to the reversal of the deferred tax valuation allowance. And probably a better measure of the progress for this year is the increase in income before-taxes which totaled $11.6 million compared to a loss last year at $710,000. And this increase in results was driven across the board with the result of revenue growth, expense management and decline in cyclical credit cost in other expense items. Pre-tax fourth quarter income totaled $3.1 million up from $2.9 million a year earlier. Net income available to common shareholders for the year was $47.9 million or $2.44 per diluted common share compared to a net loss last year at $0.24. In December we redeemed all of the outstanding Series A preferred stock and thus eliminate future dividends for that stock which totaled $4.1 million in 2013. As Danny mentioned, this action along with the $75 million common equity rates completed in the fourth quarter as significantly improved the quantity and quality of our capital. We believe our capital strength with allow us to participate in the future bank consolidations in our markets and for us to continue to execute on growing our franchise at a faster pace. Further, revenue excluding security gains and losses for the fourth quarter were $22.3 million and were up about $500,000 from a year ago. On a linked quarter bases revenues were slightly lower reflecting the impact of higher interest rates which lowered residential loan demand and our mortgage banking fees. The linked quarter comparison…

Hey, thanks Bill. As I said it’s been a transformational year for Seacoast. We positioned ourselves for even better growth in 2014 and beyond. This past year we simplified and strengthened our capital structure. We made meaningful improvement in our earnings. We turned around our loan growth. We continue to aggressively grow our core deposits and we’ve done all of this well also cutting our total expense structure as we reinvest some of the savings backed into the revenue initiatives we’ve just talked about. All of this as I said last quarter we continue to challenge each other to find innovate rates ways to grow our revenues faster and to fund the innovation required with redeployment of our heavy legacy cost even as we continue to bring down the overall cost structure. And we must bring down legacy cost by discovering ways to better align our delivery channels with customer needs that are just now starting to rapidly change. As I said last quarter, this is not going to occur overnight but it’s going to occur on a more compressed timeframe probably we think and most community banks believe and are resulting greater convenience and improved experience for the customer – for our customers. So, with that I’ll turn the call back over to our operator and we’d be pleased to take a few questions.

Thank you. We will now begin the question-and-answer session. (Operator instructions). And our first question comes from Enrique Acedo from Raymond James. Please go ahead. Enrique Acedo – Raymond James: Hey, good morning guys.

Good morning. Enrique Acedo – Raymond James: I was curious as to why period end share count only went up about 4.65 million shares from 3Q 2013? If I recall correctly, your offering was 34.9 million shares. So, if you divide that by 5, to put it just it coming out of 7 million shares. Does that imply a lower diluted share count going forward?

It could be I mean I don’t know – you realize that’s on 25 million common shares, we didn’t close that until early January. Enrique Acedo – Raymond James: Okay.

That’s – so it’s $25 million I’m sorry not 25 million shares but $25 million.

Of course some capital rates was delayed and closed in January. Enrique Acedo – Raymond James: Okay.

So, those are an outstanding year. Enrique Acedo – Raymond James: Okay, that makes sense. And maybe if I can move on to the fee item side I mean should we think of 4Q 2013 as a bottom for mortgage banking and what are – what categories are you most focused on for 2014?

Is this is in the area of fees? Enrique Acedo – Raymond James: Yes, yes, sure yes.

Yes. We’re growing every fee item across the board as you saw. Our wealth management fees grew dramatically and 30 on the order of 30% in 2013 and across the board all our deposit fees and so forth. All being driven by growth in customers and growth in customer balances and growth in usage of some of our new digital products out there. So, those trends we believe continue into 2014. You’re right, we had a disappointment in the fourth quarter with respect to our mortgage fees, mortgage fees were up I think over the prior year but disappointed us and we had a pretty soft quarter in the fourth quarter. We think that will be a challenge in 2014 when compared to 2013 but we are also working pretty hard to extend our market coverage to a larger market area and make up that difference. So, I can’t give any better guidance to that other than nationally there’s been some softness in the mortgage market as a result of the rate movement that occurred late in the summer and so forth. So, we think it’s a more challenging environment for us in 2014 than 2013 was but we have also been have been executing strategies to increase our volume with entry into other markets and that’s showing some signs of success. We’ll hopefully close that gap.

And coupled with I just point out that – as I said we began implementing some cost reductions in that mortgage area as one of the areas that we are trying to rationalize the expense structure there. Enrique Acedo – Raymond James: Okay. That’s actually really helpful. And just one last one, I promise. Do you guys have the exact impact on NIMs that was at the – and slow on public deposits had are between the quarter?

No, not – it was I mean you could probably do the math. When I say very low spreads I mean very low like 8 basis points. I think if you look at the line for our sweep repurchases that we’re up about $44 million, I think on average. So, you can do the math and sort of calculate what that cost was. Enrique Acedo – Raymond James: I will. Thanks, guys. Appreciate it.

Okay.

Thank you. (Operator instructions). And at this time, I am showing no further questions.

Okay. Well thank you very much. And we look forward to reporting this month’s progress next quarter. Thank you.