Our determination to grow our affiliated bank group is limited only by our ability to identify and partner with exceptional banking professionals. This past year represents a new benchmark of success in this effort. In February of 2006 we
opened our 42nd bank, Community Bank of Rowan in North Carolina. Looking forward, we have seven additional charter applications pending:
• Atlanta, Georgia • Evansville, Indiana • Everett, Washington • Las Vegas, Nevada• Maumee, Ohio
Phoenix, Arizona • Valdosta, Georgia
There is a reasonable probability that the number of new affiliates added in 2006 will exceed the affiliation total
accomplished in 2005.
Strategy
Each bank in our affiliated group is small when measured against industry standards. This is no accident. Our strategy continues to be focused on the development of “single store” community banks which are independently operated by a local board and a local officer team.
These banks are built upon customer relationships. The customer has access to the primary decision maker, the bank
president. Size can operate to dilute true relationship banking. Strategizing to remain small allows each bank to provide service on a level denied to larger multi-branch institutions.
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