The board and management team of Heritage Oaks has taken us back to 2001 (in terms of share value). Why did this management team get sucked into making poor quality loans? Did they think they had do that to compete? Where was the board when these these loans were being made? Where was the oversight? Heritage Oaks was a bank serving basically smaller communities in rural America. Investing in that kind of bank made sense as a relatively stable, long term growth investment. But this management team and board ventured into agressive lending and is now writing off (with investor money) their mistakes. Where are the penalties for this kind of abuse? We need a strong showing at the next annual meeting to demand changes in both the board and the management team.