And then on slide 10, as it relates to capital, you could see some leverage in the quarter. Obviously as anticipated and structured in the TF transaction being a 60/40 deal, we did in the quarter repurchased a modest number of shares about 300,000, completing our 2014 repurchase. Scott mentioned the 125 million shares repurchase, which was approved. And if you look at the capital ratios and you look at our capacity, we certainly have the ability to execute that and continue to manage capital in other forms.If you look at 2015 and do a little projection outward, it’s reflecting the earnings of 2015 in dividend as well as the repurchase. We would anticipate our tangible common ratio is in the 8.5% range at year end. And with that, I will turn it back to Scott.
Scott: Thank you, Mike. I’d like to now have you turn to slide 11. This slide outlines a few of our very key strategic drivers and objectives for continuing to build long-term shareholder value. We have discussed these objectives many times before and we will continue to discuss these well into 2015.National Penn will remain laser focused on the execution of these objectives and we are pleased with our accomplishments in the fourth quarter and full year 2014, as outlined in the presentation today and as discussed by Mike and me. And we will continue with the questions after this presentation.We remain optimistic and very pleased with our loan growth momentum and our capital management strategies such as today’s announced share repurchase of $125 million, our strong cash dividend which we increased by 10% in the fourth quarter and then our first quarter 2015 dividend that we announced yesterday, all of this couples together giving us a very good start to 2015.
We’re going to continue to focus on growing quality loans across all segments as well as cross selling all of our wealth management and insurance products and services to increase overall fee income. As we realize the benefits of the TF Financial acquisition, we know that this will strengthen our franchise overall.I want to thank you for being on the call today. And I want to open up the line now for questions.
Operator: At this time if you would like to ask a question please press the *1 on your touchtone phone. You may withdraw your question at any time by pressing the pound key. Once again to ask a question please press * and 1 on your touchtone phone. Our first question comes from the site of Casey Haire with Jefferies. Your line is now open. Casey Haire with Jefferies, check your mute function please?
Scott: Casey, are you on? Okay, maybe we can come back to Casey.
Operator: We’ll go next to Frank Schiraldi with Sandler O’Neill. Your line is now open.
Rob: Hey, good morning guys. Actually Rob Haderer here, filling in for Frank this morning. Just a couple of quick ones for me. Could you guys maybe quantify the size of the incentive compensation adjustment in the quarter? That came down a little bit, you guys touched on the release. Could you maybe quantify the size of the true-up there?
Scott: Yeah, we look at total benefits in the quarter. They were down a couple million dollors. It was really a function of — we have over dozen incentive comp plans that have various factors. And we do look at them on a quarterly basis as well as other year-end employee benefits.
Rob: Got you. Okay. And just on the positive, it looks like just excluding, to exclude the TF Financial deposits brought on the deal looks like organic deposit actually contracted. Just wondering if this is sort of seasonal muni outflows or was there something else driving that?
