1063997--3/31/2009--HARRINGTON_WEST_FINANCIAL_GROUP

related topics

{condition, economic, financial}

{loss, insurance, financial}

{loan, real, estate}

{capital, credit, financial}

{acquisition, growth, future}

{competitive, industry, competition}

{product, market, service}

{stock, price, share}

{personnel, key, retain}

{provision, law, control}

{cost, regulation, environmental}

{regulation, change, law}

Our business is subject to various lending risks which could adversely impact our results of operations and financial condition. Our investment portfolio includes securities which are sensitive to interest rates and spread changes and which we may be required to sell to meet our liquidity needs. Our other-than-temporary impairment charges taken to-date may prove to be insufficient to absorb losses inherent in our investment portfolio. Our allowance for loan losses may prove to be insufficient to absorb probable incurred losses inherent in our loan portfolio. Our business is subject to interest rate risk and variations in interest rates may negatively affect our financial performance. Our business is subject to economic and other general risks which may adversely impact our results of operations and financial condition. We invest in interest rate contracts which can cause losses to us in excess of the value at which we carry these investments. We are subject to extensive regulation which could adversely affect our business. Our temporary slowed growth may require us to raise additional capital in the future, but that capital may not be available when it is needed. We are dependent on key individuals and our ability to attract and retain banking professionals with significant experience in our local markets. We face strong competition from other financial institutions, financial service companies and other companies that offer banking services which can hurt our business We continually encounter technological change, and we may have fewer resources than many of our competitors to continue to invest in technological improvements. Our ability to service our Trust Preferred Securities, pay dividends, and otherwise pay our obligations as they come due is substantially dependent on capital distributions from Los Padres Bank, and these distributions are subject to regulatory limits and other restrictions. Provisions in our certificate of incorporation and bylaws limit the authority of our stockholders, and therefore, minority stockholders may not be able to significantly influence our governance or affairs. Liquidity risk could impair our ability to fund operations and jeopardize our financial condition. Deposit insurance assessments will increase substantially, which will adversely affect profits. Recently enacted legislation and other measures undertaken by the Treasury, the FRB and other governmental agencies may not help stabilize the U.S. financial system or improve the housing market.

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1063997--3/31/2009--HARRINGTON_WEST_FINANCIAL_GROUP_INC/CA