I don't have a management position but I am a shareholder that is tired of your campaign of misinformation. I watch my investments closely and I base my decisions on facts. Your effort to spread lies to discredit the bank leads me to wonder again what your agenda is and is tantamount to liable. You seem pretty certain about upcoming losses but you don't have anything to support your claims. I am looking at ALNC's 3Q financials which shows a ratio of Non-performing assets to total assets of 0.72%. This is lower than NBT (0.77%), FNFG (0.93%) and Tompkins (0.87%). Nationally, because of issues with banks in other areas of the country, this rate is 3%. My point is that none of these banks have credit issues in their portfolios. Specific to your criticism of leases, I looked at the bank call report on the FDIC's website and it lists $2 million of the bank's $10 million in problem loans as part of the lease portfolio. Half of the outstanding leases including the non performing ones are government guaranteed. My way of thinking is that is pretty good collateral.

If you bothered to read the earnings report, the EPS fell because of the special assessment charged by the FDIC to all banks. As a result, all banks are reporting negative EPS because of the assessment.

I agree that the cost of funds is at an all time low. That is precisely why ALNC (and other strong banks) are raising capital right now. The demand for credit and the opportunity to take advantage of the current rate environment can greatly benefit ALNC's bottom line. Banks can't borrow from the discount window and make more loans without the capital in place. The third quarter press release said that mortgage underwriting for the first nine months of this year has already exceeded all of 2008. $25 million in new capital in this rate environment has the potential to make a lot of money. Any dilution realized now should be more than compensated in additional earnings.

I agree that the TARP was a fiasco and thank goodness ALNC is out of it. Never trust the government as being aligned with the shareholders' interests.

Finally, please do all of us shareholders a favor, tell us where you are getting your information and why you are compelled to speak so poorly of ALNC. If you are pretending to be an ALNC shareholder, I am curious as to why you never said anything when the stock was $28.