1415022--3/30/2009--WSB_Holdings

related topics

{loan, real, estate}

{competitive, industry, competition}

{condition, economic, financial}

{loss, insurance, financial}

{operation, natural, condition}

{system, service, information}

{personnel, key, retain}

{regulation, government, change}

{debt, indebtedness, cash}

We operate in a highly regulated environment and may be adversely affected by changes in laws and regulations. If economic conditions continue to deteriorate, our results of operations and financial condition could be adversely affected as borrowers ability to repay loans declines and the value of the collateral securing our loans decreases. If U.S. credit markets and economic conditions continue to deteriorate, our liquidity could be adversely affected. Our focus on commercial and real estate loans may increase the risk of credit losses. We face strong competition in our market area, which could hurt our profits and slow growth. Because the Bank serves a limited market area in Maryland, an economic downturn in our market area could more adversely affect us than it affects our larger competitors that are more geographically diverse. Our operations are susceptible to adverse effects of changes in interest rates. Our allowance for loan losses may not be sufficient to cover loan losses and any increase in our allowance for loan losses would adversely affect earnings. We depend on the services of key personnel. The loss of any of these personnel could disrupt our operations and hurt our business. We face limits on our ability to lend. Our information systems may experience an interruption or breach in security, which could damage our reputation and negatively impact our financial condition. Our ability to compete effectively and operate profitably may depend on our ability to keep up with technological changes. Severe weather, natural disasters, acts of war or terrorism and other external events could significantly impact our business.

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1415022--3/30/2009--WSB_Holdings_Inc