2001 - 2002

2002

Completed the acquisition of Starbuck, Tisdale & Associates, a multi-cap growth manager with $900 million in assets under management
Opened retail branch in Santa Barbara, California
Completed acquisition of Froley, Revy Investment Company, a manager of convertible securities with $2.2 billion in assets under management
Issued $42.0 million of Series B Preferred Stock from the Bank's public REIT subsidiary

Achieved record earnings and earnings per share
Grew total deposits 28% and checking accounts 76%
Exceeded $2.6 billion in loan originations
Delinquent assets remained at a very low 0.04% of total assets
Capital levels remained strong at 12.8% of risk adjusted assets
Total assets under management, including Bank assets, grew to $11.6 billion
Completed third loan securitization, selling $405 million of asset-backed securities collateralized by adjustable rate residential mortgages
Opened retail branch in San Francisco's historic Presidio
Three-for-two stock split of FRC common stock