Watch To Kill a Mockingbird Online, To Our Clients, Colleagues and Friends,

• Remember a few years ago when there were plenty of good loans around and the hard part was getting the deposits to fund them. Isn’t it just the opposite now?  Lots of low-cost deposits, but very difficult to find good loans. As Rosanna Rosanna Danna used to say on Saturday Night Live, “It’s always something.”
  

• Remember the International Student Assessment program, the one where Asian students did so well?  As a follow-up they asked American 8^thgraders if they agreed with the statement, ”I usually do very well in mathematics” and 40% agreed.  The reality is that only 7% of them got enough correct answers to qualify as “doing very well.”  In Singapore , only 8% said they did well in math, Download To Kill a Mockingbird 1080p, but 44% actually did “very well.”

Self-esteem is good, but shouldn’t it be based on some sort of factual reality?         

• One of the real success stories is RPM, the California mortgage banker which just started retaining servicing midway last year and already is past $1.0 billion.  One of the very smart things they do is that on each month’s statement, they have a photo and contact information for the originating loan officer.


• We just finished a project at First National Bank of Wichita Falls , Texas .  Bank CEO Cindy Campbell is thoughtful, soft-spoken and very focused. Download To Kill a Mockingbird Movie, Interestingly, she has an enthusiasm for the business that is untouched by all the ways banking has gotten so complex and un-fun. The bank has been doing fine throughout the Great Recession, earning $2.5 million in 2008, $3.4 million in 2009, and $3.7 million last year.  They have $297 million of assets, $27 million of equity, and have done well despite (or perhaps because of) a loans-to-deposit ratio of only 58%.  Oh, Download To Kill a Mockingbird, and a very nice 18% of their deposits are non-interest bearing.

Mike and I finished the visit having dinner with Cindy and John Mikkelsen , their Audit Committee Chairman. He was the bank’s founder in the 1980’s and is apparently still its largest shareholder, Watch To Kill a Mockingbird Online. He has an “Aw, shucks, I’m just a rural banker” charm, but he’s one of those community bankers that knows precisely what it takes to be a successful bank.                                                                                                                                               

• Here’s an idea on how to pay high school principals.  Tie it to the percentage of kids who graduate from high school in four years or how many go to college.  And while we’re at it, Watch To Kill a Mockingbird Movie Online, let’s create a counterweight to the teachers unions.  How about a parents’ union or some other sort of union to represent the future of school kids. The industrial unions played an important role in the lives of working people, but teachers’ unions seem to have generally been a disaster for our students.

 

• Egypt must have really strict gun control laws.  Think of how many people would have been shot dead during the past week or so of street demonstrations if their people been armed.  Think of every single person throwing rocks and then imagine him with a pistol. 
  


• Did any of you mortgage bankers make money in January?  Maybe the losses will make you get serious about calculating your break even.  Once you do that, you should have a written plan that spells out the precise steps you’ll take to restore profitability.  Several years ago, we were at a mid-Atlantic bank that went one step further.  They had a written, Board-approved plan which defined exactly what would constitute a slowdown and exactly what cost-cutting steps would be taken.  
  


• Did you realize that Derek Jeter will get his 3,000^th hit sometime pretty early in the upcoming season. Did you realize that the Oakland A’s have four starters capable of winning 20 games and a bullpen that could be the best in all baseball history, Download To Kill a Mockingbird for iPod. Your mother probably has more power than the A’s, but the great thing about baseball is that all dreams are possible during the off-season.  By the way, did you rent Bang the Drum Slowly yet?
  


• The Federal Reserve just passed China as the world's largest holder of Treasuries.  It’s not a good thing when you're forced to be the biggest buyer of your own debt. Watch To Kill a Mockingbird Online, It just doesn’t sound right, does it.
  


• I just read that there’s a market for Credit Default Swaps against U.S. Treasury Securities.  Huh?  If you want to buy insurance against U.S. default for five years, Download To Kill a Mockingbird HQ, it will cost you roughly $50,000 a year to protect $10 million in Treasuries.  Frankly, we kind of felt sick finding out there was such a market.  You always hear about the cost of credit default protection for bonds issued by troubled corporations or countries like Greece , but the U.S. ? 
  


• A funny drawing of Tiger Mom Amy Chua and her two kids.  If you don’t know who  the heck Amy Chua is, don’t worry about it.
  
  


• We had breakfast with Dave Allison of Dovenmuehle Mortgage last week, and it’s no wonder they’re the nation’s largest sub-servicer, Watch To Kill a Mockingbird Online. The have lots they can do to customize things and will service the loans in your name. We’re seeing lots of mortgage bankers get FNMA approval and retain some servicing, Download To Kill a Mockingbird for PDA, and almost all of them seem to be using Dovenmuehle as their sub-servicer.
  


• On this Day in History February 5, 1974 Cal sophomore Patty Hearst was kidnapped in the crime of the century.  Patty was the daughter of one of the richest men in America , and her kidnappers demanded that he give away $60 million in free food to the poor.  Huge food riots happened when he tried this.
  These faux-revolutionaries called themselves the Symbionese Liberation Army, but they were just a bunch of poorly raised middle-class morons following a lunatic, charismatic ex-con.  Patty was kept bound and blindfolded in a dark closet for weeks while she was beaten, Download To Kill a Mockingbird IPOD, raped repeatedly and ultimately brainwashed into joining her captors.
  She changed her name to Tania, issued statements about her bourgeois parents being blood-sucking parasites, and she was caught on video robbing banks to support “The Revolution.” Most of the SLA was killed in a big shootout with the L.A. Watch To Kill a Mockingbird Online, police, but Patty was on the run and avoided capture for a year and a half.
  She was eventually caught and ultimately served a few years in prison.  One of the best reads ever is her book Every Secret Thing.
  
  
  I was in grad school at Cal when this happened, living on Spruce Street between Rose and Vine. When her kidnappers drove across town from her Benvenue apartment at 3:00 in the morning, Download To Kill a Mockingbird AVI, they abandoned the car at Spruce and Rose and threw her in the trunk of a waiting car. The police somehow figured out they’d switched getaway cars there, so that morning cops and FBI agents knocked on everyone’s door to ask if we’d seen anything the night before.  A neighbor told me he flushed all his pot down the toilet when he saw the cops swarming over our neighborhood.  As for Patty today, she’s an heiress and socialite, but she also does cameo appearances in all of John Waters’ movies.  But whatever you do, read her book.
  


• When people meet Patty for the first time and don’t know her history, do you think the conversation goes like this?   “Nice to meet you, Watch To Kill a Mockingbird Online. Download To Kill a Mockingbird for BlackBerry, So what do you do for a living?” with her saying, “Oh, I’m a socialite and an heiress.”   She had hilarious roles in Serial Mom, Cry Baby, and Hairspray.
  


• I recently disparaged investment newsletters, and in response to a number of doubters, my reasons are three-fold:  (1) The ones I’ve read constantly show you their Hall of Fame of all their winning picks.  I’ve yet to see one that displays with equal prominence their Hall of Shame of bad picks.  (2) If they’re such good stock pickers, why are they selling subscriptions for $79 a year, Movie To Kill a Mockingbird Online. Why aren’t they just investing full-time in all their great ideas. And (3) If they were really good, they’d start a mutual fund and make even more money.  But guess what?  If you run a mutual fund, your performance gets tracked, and Morningstar and the Wall Street Journal will know and show exactly how you’ve been doing. If we weren’t opposed to over-regulation, Watch To Kill a Mockingbird Online, we’d launch an SEC investigation.

• This is the 100^th anniversary of Ronald Reagan’s birth, and here’s what he once wrote about small town banks: “I was born in Tampico , Illinois in a little flat above the bank building.  We didn’t have any contact with the bank other than that.”            
  
  Reagan was a social conservative, but he was also pretty understanding of human nature. Watch To Kill a Mockingbird Online, When you think about it, he was a good looking single guy in Hollywood , so you know he knew his way around the fast lanes.   You can pretty much guess what he was thinking about in this photo.
  
  Anyway, Senator Gary Hart was a leading candidate for the Democratic nomination in 1984 when he got caught with his pants down with a young woman not his wife.  An aide showed Reagan the story in the morning paper and Reagan chuckled.  “Well, boys will be boys…” and then after a pause, “… but they don’t get to be President.” This story, Download To Kill a Mockingbird HD, in a small way, says a lot about the kind of person he was.
  


• Every so often we’ll see a mortgage company that has been hugely profitable but which has a really ugly FHA Compare Score.  Maybe this doesn’t mean anything, but maybe it’s like the banks of a few years back.  The banks that had the biggest profits were the ones that did the most construction, A&D and CRE lending.  Up till 2008, that is. 
  In 2003 I briefly met Norm Morales, Download To Kill a Mockingbird DVD, the CEO of Vineyard National Bank.  He stopped by our bank to say hi to our Chief Lending Officer, Mark Feathers, and he told me he was headed over to the OCC to tell them he was switching from an OCC charter to a state chartered bank.  The OCC charter was more restrictive on construction loans, and Norm didn’t want to be constrained. 
  Vineyard grew like crazy, and the stock shot straight up.  Then real estate crashed and the bank failed.  So it just makes you wonder when you see really profitable mortgage companies with really bad FHA Compare Scores.  Is it the same thing, where the extraordinary profits are just a reflection of making too many bad loans during good times?  We don’t know.  But we wonder.  Let us know what you think.
                                                       * *

Does anyone know of any CAMELS-1 banks?  We’ve been in some really well-run banks over the past year, all with excellent credit quality, good earnings, with lots of liquidity and capital, and even these were only 2-rated. Do CAMELS-1 banks even exist.

Helping lenders increase revenues, control costs, and better manage risk.

Bonus: Ten Keys To Survival 

Joe Garrett (510-469-8633)

Corky Watts      (408-395-5504)

Mike McAuley   (281-250-2536).

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