Lincoln City is going to be a key community for us. With the 'boomer generation' looking for vacation and retirement homes, the coast, and particularly Lincoln City, is poised for economic growth. The trick for all of us who live here will be to manage that growth so that we don't spoil the unique elements of coastal living that are important to all of us.

Although it may not be a castle, [it is the] functional equivalent of a hotel room, a vacation and retirement home or a hunting and fishing cabin.

It sounds like you've made a lot of progress in last year; you've done a great job. You're to be congratulated.

From a financial point of view, this is a healthy development for the communities we serve and our shareholders. The bank will be able to continue to grow and expand, which allows us to continue to lend more money to families and businesses in our local areas. Our shareholders' investments should continue to increase in value in addition to providing a cash dividend.

We wouldn't expect the whole town to be a retirement community.

No, I don't belong to a retirement community.