service allows account inquiry, transferring and bill paying - all free to our checking account customers. We anticipate more and more customers coming to realize the many advantages of this type of banking. Not only is it convenient and cost effective for the retail customer, it has the potential of reducing the operational costs of serving a customer's account.     Becoming More Customer-Focused        As we look forward, we see an abundance of opportunities. We realize that to be successful, we must become more customer-focused. While this is a trite and over-used phrase, it has genuine meaning for First United. We cannot and will not compete solely on price. We are too small to enjoy some of the economics of scale enjoyed by super regional and money center banks. Yet we are too large to ignore the impact on profits which inattention to pricing can cause. Likewise, we are not positioned to be on the edge of product innovation. Such brings an unacceptable risk (witness the dot.com's) and distracts us from focusing on the customer. This leaves us with growth through exceptional customer focus - a challenge we gladly accept.            We are well positioned to capitalize on this strategy. First United is one of only a few banks in our market area small enough to know its customers and be very nimble and flexible in our product offerings. Yet, we are large enough to offer a full array of services. We will leverage these factors in fulfilling your Board's mandate that we expand our franchise within our current and contiguous markets to better accomplish the Company's mission.            We are excited and confident about the future. A team of highly dedicated, competent and focused associates is focused on and committed to meeting the Company's goals and objectives. On behalf of all of them, I thank you for your support and pledge our best going forward.
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