Our Bank made significant progress in 2013, highlighted by historically high volumes in our commercial business and our insurance agency, solid core earnings growth, improved asset quality and better operational efficiency. We continue to attract and retain talented individuals who are committed to building a better bank. These leaders have proven that the right combination of collaboration and adaptation can produce strong results in any operating environment. As such, we have strengthened our Company's financial condition and have continued responsibly build our business and substantially improve shareholder value.
While work remains to be done, we are approaching a time where problem assets will no longer consume so much of our energy, resources and capital. Uncertainty about the economic recovery, low interest rates, intensified competition, and rising regulatory demands still have financial institutions navigating through a tough operating environment. Nevertheless, I believe we will succeed because our leaders continuously learn, are collaborative and can adapt to constantly changing operating conditions.
We continue to invest in our business. In January 2014, we opened a new regional office and corporate center in Rockaway, New Jersey. With increased lending capabilities, the new office will serve as our platform to continue our expansion into Morris County. We have also invested in technology, not only to help us better manage our business, but more importantly, to help us meet increasing consumer demand to have access to banking services anytime and anyplace. Also, going into a new market branch-first is not always necessary when you can provide customers with an innovative digital experience. During 2014, we will introduce several best-in-class self-service digital solutions that are innovative, integrated and deliver value to our customers. In 2014, we look forward to continuing our positive momentum by building on our success...thanks to each and every one of YOU!!!
President & CEO