TD Ameritrade gives us financial strength, accelerates our growth strategy and enhances our position as a leading industry player.

TD Ameritrade gives us financial strength, accelerates our growth strategy and enhances our position as a leading industry player. Shareholders are rewarded with a $6 dividend, one of the largest in U.S. history. Clients win too with a combination that creates a full array of outstanding offerings, from a powerful online experience to branches and a large independent advisor network.

Last month we announced the largest reorganization in our company's history. This acquisition reflects our aggressive focus on growth and profitability,

It is going to take us 18 months to do the integration, but if the right opportunity came we could do it tomorrow.

We are pleased that our continuing growth in Europe is leading us to expand our offices. Our new offices are in the heart of Europe's biggest financial centre, so our headquarters will be convenient for many nearby clients, especially leading legal and financial services firms.

The underlying trends look positive, and I'm encouraged by stability in the margin and strength in loan growth.