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To: GST who wrote (149122)	10/23/2002 12:34:44 PM
From: H James Morris	Respond to of 164684

My regional bank portfolio has performed above my expectations ytd thanks to low interest rates. >>Interest rates are dropping and the economy continues to be sluggish, raising questions about loan quality. But regional banking companies so far are still making money. A slew of earnings reports released yesterday showed decent results for most, with some reporting healthy year-over-year gains in net income. Although some financial institutions are feeling squeezed on interest rate margins -- the difference between what's paid on deposits and earned on loans -- some, because of the type of loans and deposits on their books, managed to report margin increases from a year ago. And although the length and depth of the economic slump could mean an increase in delinquent and defaulted loans, so far most are reporting no significant deterioration in their loan portfolios. "Almost everybody tells me -- with fingers crossed, knock on wood -- credit quality is pretty good," said James Bradshaw, banking analyst at D.A. Davidson & Co. in Portland.<<