1143848--3/30/2009--LSB

related topics

{personnel, key, retain}

{loss, insurance, financial}

{loan, real, estate}

{tax, income, asset}

{capital, credit, financial}

{stock, price, share}

{product, market, service}

{competitive, industry, competition}

{control, financial, internal}

{regulation, change, law}

{regulation, government, change}

{debt, indebtedness, cash}

{condition, economic, financial}

If the Company has higher loan losses than it has allowed for, its earnings could materially decrease A significant amount of the Company s loans are concentrated in northeastern Massachusetts and southern New Hampshire, and adverse conditions in this area could negatively impact its operations. The Company operates in a highly regulated environment and may be adversely impacted by changes in law and regulations The Company s FDIC premiums have materially increased and could continue to do so, which could materially affect the Company s earnings. The impact on the Company of recently enacted legislation, in particular the Emergency Economic Stabilization Act of 2008 and the American Recovery and Reinvestment Act of 2009 and their implementing regulations as well as the President s Financial Stability Plan, and the Company s participation in programs thereunder, cannot be predicted at this time. The impact of further contemplated legislative and regulatory changes cannot be predicted at this time. The terms governing the issuance of the Preferred Stock to the Treasury may be changed, the effect of which may have an adverse effect on the Company s operations. The Company has strong competition within its market area which may limit the Company s growth and profitability The success of the Company is dependent on retaining certain key personnel or attracting and retaining additional, qualified personnel The limitations on executive compensation imposed through the Company s participation in the Capital Purchase Program may restrict its ability to attract, retain and motivate key employees, which could adversely affect our operations. The Company continues to encounter technological change, and may have fewer resources than many of its larger competitors to continue to invest in technological improvements. The Company relies on dividends from the Bank for substantially all of its revenue Market fluctuations and changes in interest rates have had, and may continue to have, significant and negative effects on the Company s investment portfolio and stockholders equity. Management may assess a decline in fair value as being temporary when in fact it is other-than-temporary and, consequently, not charge the impairment to the Company s earnings, which could have a significant impact on its future operating results. When the Company becomes subject to the full SEC requirements under Section 404 of the Sarbanes-Oxley Act of 2002, it will likely incur significant costs in connection with first providing internal control reports.

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1143848--3/30/2009--LSB_CORP