Good morning and welcome to the Landmark Bancorp Incorporated First Quarter Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded. I’d now like to turn the conference over to the President and Chief Executive Officer, Mr. Michael Scheopner. Please go ahead Mr. Scheopner.

Thank you and good morning. Thank you for joining our call today to discuss Landmark’s earnings and results of operations for the first quarter of 2015. Joining the call with me today to discuss various aspects of our first quarter performance are Mark Herpich, Chief Financial Officer of the company and Brad Chindamo, our 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 discussion our hopes, beliefs, expectations or predictions of the future are forward-looking statements and our actual results could differ materially from those expressed. Additional information of these factors is included from time-to-time in our 10-K and 10-Q filings which can be obtain by contacting the company or the SEC. We reported record net earnings of $2.8 billion or $0.81 per share on a fully diluted basis for the first quarter of 2015. This represents a 63% increase over our first quarter 2014 earnings level. Earnings this quarter benefited from $1.7 million recovery on a previously charged-off commercial construction loan leading to a $1 million negative provision to loan losses. When we exclude two items that we consider to be non-recurring those being the impact of that reversal provision as well as a loss on the sale of some mortgage-backed securities. Core earnings for the first quarter 2015 increased in line with our expectations. Net interest income totaled $6.3 million for the first quarter of 2015 and increase of 4.9% from the first quarter of 2014. Total non-interest income for the quarter was $3.8 million up 16.3% from the same period…

Thanks, Michael and good morning to everyone. As Michael has already summarized our results for the first quarter of 2015, I would like to make a few comments on various elements comprising those record earnings results. Starting with the first quarter income statement highlights, net interest income increased 294,000 or almost 5% as Michael mentioned to $6.3 million in comparison to the prior year’s first quarter. Net interest income was impacted by our net interest margin which decreased slightly to 3.47% from 3.49% during the first quarter of 2014. In comparison to the net interest margin of 3.46% in the fourth quarter of 2014, our net interest margin has remained relatively stable from a quarter-to-quarter perspective. The higher net interest income was primarily driven by 5.8% increase in our average interest earning assets from $736.9 million in the first quarter of 2014 to $780 million during the first quarter of 2015. Looking at our provisions to our allowance for loan losses, we received a recovery in the amount of $1.7 million during the first quarter of 2015 on a construction loan which was fully charged-off during 2010 and 2011. As a result of our March 31, 2015 evaluation of the adequacy of the allowance for loan losses which takes into consideration various items such as our levels of non-performing loans, our classified loan totals and economic and interest rate outlooks we recorded a $1 million negative provision for loan losses was during the first quarter of 2015. That compares to a provision for loan losses of 150,000 in the first quarter of 2014. Non-interest income increased $527,000 to $3.8 million for the first quarter of 2015, as compared to the same period of 2014. Our gains on sales of loans reflected an increase of $827,000 for the first quarter of…

Thanks Mark and good morning to everyone. Net loans outstanding as of March 31, 2015 totaled $417 million. This is a $1 million increase from the previous quarter end total of $416 million in net loans. Our lending efforts continue to focus on prospecting new high quality commercial banking relationships and expanding existing high quality relationships. Non-performing loans, which primarily consist of loans greater than 90 days past due totaled $5.9 million or 1.40% of gross loans as of March 31, 2015. This compares to a level of 1.44% as of year-end 2014. Significant part of non-performing loans is principally associated with one credit. The commercial loan relationship consisting of $3.1 million in real estate and land loans, which was placed on non-accrual status after the borrower filed for Chapter 13 bankruptcy in 2012. Another indicator we monitor as part of our credit risk management effort 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 March 31, 2015 totaled $1.541 million or 0.36% of gross loans. Of the loans in the 30 to 89-day past due category 49% or $748,000 is associated with two loans in commercial real estate loan and residential mortgage loan. We continue to monitor delinquency trends carefully in all loan categories. Our balance and other assets real estate owned totaled $198,000 as of March 31, a decrease from $255,000 in the prior quarter. The other real estate owned balances have been reduced as a result of the sale properties. We continue to market for sale the remaining properties held in real estate owned. We recorded net loan recoveries of $1.585 million during the first quarter of 2015. This compares to net loan charge-offs of 820,000 for the prior…

Thank you, Brad. I also want to thank Mark for his comments earlier in the call. Before we go to questions, I just want to summarize by saying we are pleased with Landmark’s operating results for the first quarter of 2015. As noted during our comments while the quarter results were impacted by two non-recurring events, even without these events core earnings performance for the quarter continues to meet our expectations. With that, I’ll open the call up to questions that anyone might have.

We will now begin the question-and-answer session. [Operator Instructions] At this time, Mr. Scheopner we have no one entering the queue.

Okay. Thank you, and I appreciate everyone joining the call today and for your continued support of the company and we look forward to joining you next quarter to discuss our results for the second quarter of 2015. Thank you.

The conference is now concluded. Thank you for attending today’s presentation. You may now disconnect.