1090009--3/21/2007--GREENVILLE_FIRST_BANCSHARES_INC

related topics
{loan, real, estate}
{acquisition, growth, future}
{loss, insurance, financial}
{personnel, key, retain}
{regulation, change, law}
{condition, economic, financial}
{capital, credit, financial}
Our recent operating results may not be indicative of our future operating results. Our decisions regarding credit risk and reserves for loan losses may materially and adversely affect our business. Lack of seasoning of our loan portfolio may increase the risk of credit defaults in the future. Changes in prevailing interest rates may reduce our profitability. We are dependent on key individuals and the loss of one or more of these key individuals could curtail our growth and adversely affect our prospects. We are subject to extensive regulation that could limit or restrict our activities. Efforts to comply with the Sarbanes-Oxley Act will involve significant expenditures, and non-compliance with the Sarbanes-Oxley Act may adversely affect us. Our continued pace of growth may require us to raise additional capital in the future, but that capital may not be available when it is needed. We face strong competition for clients, which could prevent us from obtaining clients and may cause us to pay higher interest rates to attract clients. We will face risks with respect to future expansion and acquisitions or mergers. The success of our growth strategy depends on our ability to identify and retain individuals with experience and relationships in the markets in which we intend to expand. Our decisions regarding credit risk and reserves for loan losses may materially and adversely affect our business. A significant portion of our loan portfolio is secured by real estate, and events that negatively impact the real estate market could hurt our business. A large percentage of the loans in our portfolio currently include exceptions to our loan policies and supervisory guidelines.

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