David Peyton, President and CEO, is pleased to announce that the Federal Reserve recently approved Richard Alger and Bill Losner to increase their stock ownership in Hometown of Homestead Holding Company which owns the 1st National Bank of South Florida. As strong believers in traditional community banking, their significant investments, along with the investments of other local shareholders, have returned the bank to being locally owned and operated as a community bank. This return to local ownership ensures that decisions will be made quickly and efficiently, and will be based on the individual needs of our customers. The bank was founded in 1932 by a group of local businessmen, including Mr. Losner's grandfather. In 2006, ownership shifted to investors outside our market. As a locally owned and locally operated bank, directed by a board that consists of local community business and civic leaders, our focus is on serving the needs of our local communities.