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BFMG

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BFMGBankers Financial Mortgage Group


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Over the past year, we have added employees due to the September 2007 BFMG acquisition and the expansion of our community bank office network, as well as hired experienced retail banking and warehouse lending personnel who will help us to fully serve our customers by providing a wide range of banking services.
The increase in noninterest expense was partially due to implementation of the Equity Incentive Plan in 2007, the Visa litigation liability and higher salaries in connection with our acquisition of BFMG in September 2007.
The increase in noninterest expense was primarily due to an increase in salaries and employee benefits associated with the BFMG Acquisition, as well as increased stock compensation expense from the shareholder approved equity incentive plan and employee stock ownership plan expense.
 
 
 
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