949228--3/14/2008--BEACH_FIRST_NATIONAL_BANCSHARES_INC

related topics
{loan, real, estate}
{acquisition, growth, future}
{condition, economic, financial}
{loss, insurance, financial}
{personnel, key, retain}
{capital, credit, financial}
{regulation, change, law}
The Company s recent operating results may not be indicative of future operating results. The Company s decisions regarding credit risk and reserves for loan losses may materially and adversely affect its business. Lack of seasoning of a portion of the Company s loan portfolio may increase the risk of credit defaults in the future. An economic downturn, especially one affecting the Horry, Beaufort, and Georgetown counties, could reduce the Company s customer base, level of deposits, and demand for financial products such as loans. Changes in prevailing interest rates may reduce profitability. The Company is dependent on key individuals and the loss of one or more of these key individuals could curtail growth and adversely affect its prospects. The Company is subject to extensive regulation that could limit or restrict its activities. The Company s continued pace of growth may require it to raise additional capital in the future, but that capital may not be available when it is needed. The Company faces strong competition for customers, which could prevent it from obtaining customers and may cause it to pay higher interest rates to attract customers. The Company will face risks with respect to future expansion and acquisitions or mergers. A significant portion of the Company s loan portfolio is secured by real estate, and events that negatively impact the real estate market could adversely affect the business. A large percentage of the loans in our portfolio currently include exceptions to the Company s loan policies and supervisory guidelines.

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