1008579--3/31/2006--HIGHLANDS_BANKSHARES_INC

related topics

{competitive, industry, competition}

{personnel, key, retain}

{condition, economic, financial}

{loan, real, estate}

{loss, insurance, financial}

{stock, price, share}

{acquisition, growth, future}

{tax, income, asset}

Changes in interest rates could have an adverse effect on our income. Our concentration in loans secured by real estate may increase our credit losses, which would negatively affect our financial results. If our allowance for loan losses becomes inadequate, our results of operations may be adversely affected. Our profitability and the value of your investment may suffer because of rapid and unpredictable changes in the highly regulated environment in which we operate. We rely heavily on our management team and the unexpected loss of any of those personnel could adversely affect our operations; we depend on our ability to attract and retain key personnel. We will face risks with respect to future expansion. The success of our growth strategy depends on our ability to identify and recruit individuals with experience and relationships in the markets in which we intend to expand . Our future success is dependent on our ability to compete effectively in the highly competitive banking industry. Our business is subject to various lending and other economic risks that could adversely impact our results of operations and financial condition. There is a limited trading market for our common stock; it may be difficult to sell our shares after you have purchased them.

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1008579--3/31/2006--HIGHLANDS_BANKSHARES_INC_/VA/