Mr. Prisbly left this out of the release:

Once aqain we failed to take advantage of the refinance boom by not making lots of money originating and selling single family mortgage loans to the secondary market.

We had to significantly increase loan provisions because Palmer will get elected to the Board and challenge the way we calculate our allowance for loan losses.

Our Strategic plan of continuing to rapidly grow the commercial loan portfolios, even though credit quality was radidly deteriorating and we were entering an economic downturn, did not work. So now are new plan of action is to stop making new commercial loans because the regulators won't let us. We will take all that high priced commercial loan expertise we hired last year and have them focus on making our existing commercial loan relationships much more profitable.

We also plan to reteach all of our employees what a return on equity is because apparently they did not learn it the first time.