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The impairment charge resulted from management's determination that Fannie Mae Preferred Stock Series-F was other than temporarily impaired at March 31, 2006. That reduction, together with the write-down in December 2004 of a security that was determined to be other than temporarily impaired, was the primary reason for lower fourth quarter net income. That reduction together with the write-down in December, 2004 of a security that was determined to be other than temporarily impaired, were the primary reasons for lower fourth quarter net income. |
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