Robin Oliver

“First, I want to provide some further details around the asset resolution plan and the related impacts. As Scott mentioned, the asset resolution plan identified and provided resolution for troubled loans, but it also provides protection from future charge-offs.”

“As we look forward to the future growth of the bank and work towards returning to profitability, we will simultaneously closely manage our credit risk and problem assets to reduce future losses.”

“I want to further follow up on credit risk management as it is a major focus for organization. First off, total non-performing loans, excluding government guarantee balances, were $16.9 million at the end of the fourth quarter, relatively flat to $16.5 million at the end of the third quarter.”

“First, I'd like to comment a bit more on our efforts around asset quality. Throughout this year, we have worked to strengthen credit administration practices to ensure the timely identification of problem credits as well as ensuring those same problem credits are resolved as quickly as possible.”

“As Tom and Scott have detailed, asset quality trends, primarily in our SBA 7A small loan program product, continue to decline in the current economic environment.”