Just why do our netas have to see votes everywhere?

One good thing about elections. Our netas suddenly become people-friendly. Rather voter-friendly. No power shutdowns.

The allowance now represents 2.5% of the total loanportfolio and 81% of non-performing assets. Included in non-performing assets is$12 million in loans held for sale which were previously written down to theirestimated market values. When the held for sale loans are excluded fromnon-performing assets, the ratio of allowance for loan losses to non-performingassets improves to 122%. This quarter’s provision for loan losses at $3.5 million increasedthe allowance for loan losses to $28 million following $1.4 million ofcharge-offs in the quarter. Consequently, the resulting additional liquidity in the Bank,when combined with lower earning-asset yields, has had a negative impact on thenet interest margin.”Non-performing loans remain a cause for concern and continued close managementattention. O’Brien stated, “The results of the second quarter mark a return toprofitability for the Company. In several key areas, the news for the Company isgenerally positive yet we remain cautious on credit conditions and the inherentrisk in lending portfolios which is being exacerbated in this weak economy.Operating expenses continue to be well controlled although the FDIC’sindustry-wide special assessment amounted to $730 thousand in this quarter.Deposit flows have been strong with total deposits up by $181 million or 14.5%year over year.

The growth in core deposits reflects the Company’s ongoing acquisition of attractive new business clients and the expansion of many existing business client relationships. Core deposits represented 67% of total deposits in the quarter ended June 2009, 71% of total deposits for the quarter ended June 2008 and 66% for the quarter ended March 2009.Demand deposits increased by 8% to $342 million at June 30, 2009 versus $317 million at the comparable 2008 date and increased by 3% from $332 million at March 31, 2009; * Performance Ratios: Return on average assets and return on average stockholders’ equity were 0.26% and 2.89%, respectively, in the second quarter of 2009 and 0.24% and 3.35%, respectively, in the comparable 2008 period.Commenting on the second quarter 2009 financial performance, President and CEOThomas M. The Company’s operating efficiency ratio increased to 70.9% in 2009 from 63.7% in the comparable 2008 period. Excluding the $730 thousand FDIC insurance fund special assessment recorded during the second quarter of 2009, the Company’s operating efficiency ratio would have been 66.4% (non-GAAP financial measure).The Company’s efficiency ratio was 61.8 % in the first quarter of 2009; * Loans and Leases: Loans and leases outstanding increased by 5% to $1.1 billion versus the second quarter of 2008 and were unchanged versus the first quarter of 2009; * Core Deposits: Core deposits totaled $958 million at June 30, 2009 versus $883 million at June 30, 2008 and $865 million at March 31, 2009. The allowance for loan and lease losses totaled $28 million or 2.5% of total loans and leases at June 30, 2009 versus $26 million or 2.3% of total loans and leases at March 31, 2009 and $19 million or 1.7% of total loans and leases at December 31, 2008; * Operating Efficiency:Total operating expenses for the second quarter of 2009 increased by 2.8% to $11.5 million from the $11.2 million reported in the second quarter of 2008. Net loan and lease charge-offs of $1.4 million were recorded in the second quarter of 2009 versus $2.1 million in the second quarter of 2008 and $2.8 million in the first quarter of 2009. The reduction in net interest margin in the second quarter of 2009 versus 2008 resulted from several factors, most notably reduced asset yields due to lower interest rates, increased non-performing assets and accelerated cash flows on investment securities in 2009; * Capital Strength: The Company’s Tier I leverage capital ratio was 8.98% at June 30, 2009 versus 7.64% at June 30, 2008 and 9.10% at March 31, 2009.The Company’s tangible common equity ratio (non- GAAP financial measure) was 6.75% at June 30, 2009 versus 7.13% at June 30, 2008 and 6.99% at March 31, 2009.

In the six month period ending June 30, 2009, the Companyrecorded a net loss of $4.0 million, or $0.35 per diluted common share, comparedwith earnings of $4.0 million, or $0.28 per diluted share, for the June 2008year-to-date period.Performance Highlights * Net Interest Margin: Net interest margin was 3.88% in the second quarter of 2009 versus 4.29% in the second quarter of 2008 and 4.03% in the first quarter of 2009. The reduction in earnings per diluted common share in 2009is due primarily to quarterly dividends paid on preferred stock issued under theUnited States Department of the Treasury (the “Treasury”) Capital PurchaseProgram (“CPP”). The 11.6% increase in 2009 secondquarter earnings was primarily attributable to a $1.4 million reduction in theprovision for loan and lease losses and a $396 thousand increase in net securitygains in 2009. These improvements were offset, in part, by a decline in netinterest income of $1.0 million, and an increase in total operating expenses of$314 thousand primarily as a result of a $730 thousand FDIC insurance fundspecial assessment. (the”Company”) (Nasdaq:STBC), parent company of State Bank of Long Island (the”Bank”), today reported net income of $1.1 million, or $0.04 per diluted commonshare, for the second quarter of 2009 compared with earnings of $961 thousand,or $0.07 per diluted common share, a year ago. JERICHO, N.Y., July 21, 2009 (GLOBE NEWSWIRE) — State Bancorp, Inc.

Note to Editors:Realty Income press releases are available at no charge by calling our toll-freeinvestor hotline number: 888-811-2001, or through the Internet at http:// Realty Income CorporationTere MillerVice President, Corporate Communications760-741-2111, ext 1177 Copyright Business Wire 2009. The Company is a buyer of net-leased retail properties nationwide. Themonthly income is supported by the cash flow from over 2,300 retail propertiesowned under long-term lease agreements with leading regional and national retailchains. To date the Company has declared 469 consecutive common stock monthlydividends throughout its 40-year operating history and increased the dividend 54times since Realty Income`s listing on the New York Stock Exchange in 1994. The monthly dividend amount on the Class Dpreferred stock is $0.1536459 per share, for an annualized amount of $1.84375per share. The monthly dividend amount on the Class E preferred stock is$0.140625 per share, for an annualized amount of $1.6875 per share. Realty Income, The Monthly Dividend Company®, is a New York Stock Exchange realestate company dedicated to providing shareholders with dependable monthlyincome.