Scott Bauer Quotations

But this filing will give us the freedom to operate the office as we wish, such as taking limited deposits, until it makes strategic sense to open a full-service branch.

We'll operate in Raleigh through the loan-production office for now.

We had a difficult first quarter, and we spent the rest of the year catching up. But our credit quality is as solid as it's ever been, and we believe we had built a solid foundation for continued success.

We sold off the securities to improve our margins, as well as absorb the other expenses, to better position ourselves for growth in 2006. We are focused on managing our balance sheet and slowing the growth of non-interest expenses.

These steps are being taken to help us handle future growth, extend our brand and operate more efficiently.