What are the economic and social characteristics of the geographic area that you serve?
Mr. Cirucci: We operate primarily in the southwestern suburbs of Philadelphia, Pennsylvania, through nine branch offices. Eight are located in Delaware County and one in Chester County. In 2008, we will begin our 70th year of operations. The two counties have very different characteristics. Delaware County borders Philadelphia and except for the southernmost region, the county is substantially built out. Chester County is to the west of Delaware County and is still developing. There is potential for growth but it is very different for each county and we focus our attention accordingly. In Delaware County we target small and medium size business customers along with home equity lending and general retail business. We have only been in Chester County for two years and have focused more on residential construction lending and also small business and retail centers. As the banking industry continues to consolidate, we take advantage of niche opportunities in the marketplace as they occur.
