803016--9/17/2007--CALIFORNIA_FIRST_NATIONAL

related topics

{loan, real, estate}

{condition, economic, financial}

{regulation, change, law}

{stock, price, operating}

{operation, natural, condition}

{loss, insurance, financial}

{system, service, information}

{personnel, key, retain}

{competitive, industry, competition}

{debt, indebtedness, cash}

{interest, director, officer}

{financial, litigation, operation}

{regulation, government, change}

The Company's business and financial results are subject to general business and economic conditions. Changes in the domestic interest rate environment could reduce the Company's net direct finance and interest income. California First National Bancorp and Subsidiaries California First National Bancorp and Subsidiaries Disruptions in the domestic credit markets and interest rate environment, including changes in interest spreads and the yield curve, could reduce net interest income. Changes in the laws, regulations and policies governing financial services companies could alter the Company's business environment and adversely affect operations. The Company and the Bank are regulated by governmental entities The financial services industry is highly competitive, and competitive pressures could intensify and adversely affect the Company's financial results. Acts or threats of terrorism and political or military actions taken by the United States or other governments could adversely affect general economic or industry conditions. The Company's allowance for lease losses may not be adequate to cover actual losses. The Company may suffer losses in its lease portfolio despite its underwriting practices. The Company may be adversely affected by significant changes in interest rates The change in residual value of leased assets may have an adverse impact on the Company's financial results. California First National Bancorp and Subsidiaries California First National Bancorp and Subsidiaries The financial services business involves significant operational risks. Quarterly operating results may fluctuate significantly Quarterly operating results may fluctuate significantly Negative publicity could damage the Company's reputation and adversely impact its business and financial results. The Company's reported financial results are subject to certain assumptions and estimates and management's selection of accounting method Certain accounting policies are critical to presenting the Company's financial condition and results. Changes in accounting standards could materially impact the Company's financial statements. Loss of certain key officers would adversely affect the Company's business. California First National Bancorp and Subsidiaries California First National Bancorp and Subsidiaries The Company's business could suffer if the Company fails to attract and retain qualified people. The Company relies on other companies to provide components of the Company's business infrastructure. A natural disaster could harm the Company's business. The Company faces systems failure risks as well as security risks, including "hacking" and "identity theft." The Company relies on dividends from its subsidiaries for its liquidity needs. The Company's stock price can be volatile. The Company is a "controlled company" as defined by NASDAQ, with over 50% of the stock held by the Chief Executive Officer, over 65% held by two senior executives and fewer than 100 shareholders of record.

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803016--9/17/2007--CALIFORNIA_FIRST_NATIONAL_BANCORP