We all felt the loss of our esteemed director, Donald M. Browning, who died on June 20, 2003. Don joined the Board in 1963, and witnessed much of the Company's expansion to what it has become today. We will miss his guidance and wisdom.
      We have exciting plans for 2004 and beyond, including recently acquiring land in Morgantown, West Virginia, with intentions to branch into that dynamic market in 2004. We anticipate multiple locations in order to have an immediate impact on the market. We feel extremely fortunate to be positioned in two of West Virginia's top markets, Martinsburg and Morgantown and we intend to also expand our presence in Hagerstown and Frederick. Our goal is to increase our market shares in these robust areas.

      I am, from time to time, asked to comment on the reasons for your Company's success. Without equivocation, I respond that we are successful because of the outstanding team of associates who are focused on both serving our customers and building shareholder value for you, our owners. They completely understand what it takes to compete in today's environment and prepare daily for this task. It is a pleasure to work with such a group of dedicated associates, and all of us pledge to you, the shareholder, our continued efforts to build long-term value for your investment.
Sincerely yours,