"Our business developments efforts were focused on new loans to professionals and small businesses. This has resulted in a decrease in the level of pure investment commercial real estate loans and construction loans to small builders in our loan portfolio."
"There is one message to the shareholders from the restatement process that I do wish to highlight. Our Board of Directors, our Chief Financial Officer and I are committed to corporate integrity and corporate transparency."
Didn't really do that though ... private placement and adjustments to stock options were a little snarky. Should have had a rights offering instead and left the option setting process alone. What he ought to say this year is, "Next time we need to raise capital, I promise you we will open it up to everyone."