Note: Article points out that the book value is now 12.50 per share.
Quote from Gleason in article:
George Gleason, Chairman and Chief Executive Officer, stated ``While we are very disappointed with our third quarter results, it is important to keep in mind that our increased provision to the allowance for loan losses was primarily a result of loans to a single borrower. This credit is an unusual situation and we believe our overall loan quality continues to be very good. We believe we have recognized our loss on this credit and do not presently foresee any adverse asset quality trends developing. In fact, our ratio of non-performing loans to total loans is the most favorable ratio we have reported in over ten quarters and our ratio of past due loans at September 30, 2000 is the most favorable ratio we have had at the end of any quarter since becoming a public company in 1997. During the third quarter we continued to grow our core customer base achieving solid loan and deposit growth. We are pleased to report record non-interest income during the third quarter, led by improved mortgage lending and trust income compared to the previous quarter. Our efforts to grow and diversify our sources of non-interest income are achieving good results. The third quarter was difficult, but we are continuing to build and improve our franchise with a goal of creating long-term shareholder value.''