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Technology Stocks : SFNB, Security First Net. Bank
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To: Box-By-The-Riviera™ who wrote (221)8/18/1997 10:43:00 AM
From: Kevin A. Lynch   of 507
 
Hey Joel,

I listened to the conference call, and read the article about HP. While HP is near the perimeter of this type of business, one might also conclude they should focus on thier core business after todays earnings. And you are correct, if someone (non-bank) throws enough money into this climate, they may buy their way to the top.

With the signups at SFNB, I am very encouraged. Need to get more going through the process center. I do know the HBAN has promated the VFM alot and having pretty good success.

From your earlier posts, it is pretty clear that you dislike Chip Mahan. So I am sure you might have a negative perspective of the call. At least your comments indicated you didn't like his KY folksy style or something of that nature. (first quarter call comments)

Back to the business.... I am one of those accounts that lack the staying power because I have yet to commit to SFNB as my primary bank.
However, we both know that SFNB is primarily a software company... furthermore, if my home bank here offered me the solutions SFNB does with the added benefit of local depositing. I would have been more likely to have exclusively used the service. Direct deposit was not a viable alternative for me, and the security of being able to actually visit the bank if required is a positive.

My current assessment....

With the number of signups and strategic partners, the ball is still in SFNB's court. It is theirs to lose. It will be interesting to see the other modules when the R&D is finalized on them. My guess profit in 3rd quarter 98.... Is there enough cash to last till then... Not sure.

Regards,

Kman
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