As we navigate into the fourth quarter and drive on to the year's end, it's important to acknowledge that, despite the economic challenges besetting the nation, First Foundation is strong and has continued its positive growth trend in 2011.

One indicator of growth is our expansion. We are proud to have recently opened the doors on our new office in San Diego, at 4510 Executive Drive. The La Jolla/University Town Center area, where the office is located, is very important to our organization and to our clients in that area, where until now we have not had a presence. We're glad to be there.

Another mark of a healthy business is the addition of highly qualified employees, and we've added four such colleagues to our staff recently. Carl Vonderau, Vice President, Private Banker and Melissa Hall, Vice President, Trust Administration will be working out of our new San Diego office. Stuart Bailey, also a Vice President, Private Banker, will be working out of our La Quinta office, and Grant Withers is a Managing Director for First Foundation Advisors based out of Los Angeles. All four are exceptionally talented and we're delighted to have them on our team.

Finally, we're looking forward to our Economic and Market Update event December 14th at the Hyatt Regency Huntington Beach Resort & Spa. The luncheon program will be moderated by Dr. Jim Doti, the President of Chapman University, and our keynote speaker will be the inimitable T. Boone Pickens. You won't want to miss this. Whether the subject is alternative energy, corporate wellness, the environment, or just good ol' fashioned leadership, few folks pontificate like Pickens.