Operating with a flat yield-curve environment is tough on every bank, but Wells is positioned well compared to its peers.

They produced a solid quarter in a challenging operating environment.

Their volume growth has been explosive. Obviously they benefited from the tremendous refinance wave in the mortgage market in 2003, and they continued to invest in the mortgage business, growing their market share despite overall declines in the business.

It's just the way we operate. We are able to take a fun environment into a serious situation.

We like Carlisle a great deal, ... We think with the lowering interest rate environment it should do very well.

what we believe will continue to be a tough economic environment.