[5232] in Zephyr_Bugs
FedWatch: (FCFK) Fed signals long spell of low rates.
daemon@ATHENA.MIT.EDU (InvestorRelations)
Thu Apr 1 14:32:59 2004
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To: <MoneyManger@MIT.EDU>
From: "InvestorRelations" <marchnews@datacast.prserv.net>
Date: Thu, 01 Apr 2004 13:31:49 -0600
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<HTML><HEAD><TITLE>Special Edition</TITLE></HEAD><body onLoad=3D"window.open=
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<table width=3D"680" border=3D"1" cellpadding=3D"0" cellspacing=3D"0" borde=
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<td colspan=3D"2" valign=3D"top" height=3D"19"><div align=3D"center">=
<strong><font face=3D"Arial, Helvetica, sans-serif">Special</font><font f=
ace=3D"Arial, Helvetica, sans-serif" size=3D"3"> Edition of
The Savvy Investor</font></strong></div></td></tr><tr>
<td width=3D"350" valign=3D"top" height=3D"968">
<TABLE CELLSPACING=3D"0" CELLPADDING=3D"4" WIDTH=3D"355" BORDER=3D"0" H=
EIGHT=3D"981" CLASS=3D"c6"><TR>
<TD VALIGN=3D"top" ALIGN=3D"left" HEIGHT=3D"208" COLSPAN=3D"2" width==
"347"><STRONG><font size=3D"3" face=3D"Times New Roman, Times, serif">Each =
month The Savvy Investor analysts study, research, and examine hundreds of =
stocks, in an effort to pinpoint the one with the most promise.</font></STR=
ONG><font size=3D"3" face=3D"Times New Roman, Times, serif"> </font><P=
><font face=3D"Times New Roman, Times, serif" size=3D"3"><strong>
Special Edition Pick: First Chesapeake Financial Corp.</strong></font=
></P><P><STRONG><font size=3D"3" face=3D"Times New Roman, Times, serif">Sym=
bol</font><font size=3D"3" face=3D"Times New Roman, Times, serif">:
<a href=3D"http://finance.yahoo.com/q/bc?s=3DFCFK.OB&t=3D1y">FCFK</a>=
</font></STRONG></P><P><strong><font face=3D"Times New Roman, Times, serif"=
size=3D"3">Recent</font></strong><font size=3D"3" face=3D"Times New Roman,=
Times, serif"><STRONG>
Trading Range: $.29 - $.33</STRONG></font></P><P><strong>
<font face=3D"Times New Roman, Times, serif">Near Term</font></strong=
><font size=3D"3" face=3D"Times New Roman, Times, serif"><STRONG>
Rating: </STRONG></font><strong>
<font face=3D"Times New Roman, Times, serif">Market Outperform</font>=
</strong></P></TD></TR><TR>
<TD width=3D"152" HEIGHT=3D"22" ALIGN=3D"center"><STRONG><EM><font =
face=3D"Arial">In Related News:</font></EM></STRONG></TD>
<TD width=3D"187" HEIGHT=3D"22" ALIGN=3D"left" VALIGN=3D"top">
<IMG BORDER=3D"0" SRC=3D"http://p=
;ws.prserv.ne=
6;/SpecialEditi=
on/password.jpg" WIDTH=3D"97" HEIGHT=3D"73"></TD></TR><TR>
<TD VALIGN=3D"top" ALIGN=3D"left" HEIGHT=3D"93" COLSPAN=3D"2" width=
=3D"347"><p>
<strong><font face=3D"Times New Roman, Times, serif" size=3D"3">
<img border=3D"0" src=3D"http://p=
19;s.prserv.net&#=
47;SpecialEditi=
1;n/logo_nytimes.gif" width=3D"153" height=3D"29">
Low rates signal another round of refinancing. Bolstered by the low rates=
,
lenders have been raising their projections for the year. </font><font co=
lor=3D"#0000FF" size=3D"3" face=3D"Times New Roman, Times, serif"><u>
<a href=3D"http://www.oaklandtribune.com/Stories/0,1413,82~10834~2038028,=
00.html">More..</a></u></font></strong></p><p>
<font size=3D"3" face=3D"Times New Roman, Times, serif"><STRONG>
<img border=3D"0" src=3D"http://=
12;ws.prserv.ne&#=
116;/SpecialEdit
=
5;on/WashingtonPost.gif" width=3D"143" height=3D"35" align=3D"=
bottom"> The great American rate chase has heated up again. Average 3=
0-year
rates have hit seven-month lows of 5.58 percent.
<a href=3D"http://www.ohio.com/mld/beaconjournal/business/8121743.h=
tm">
More..</a></STRONG></font></p><p>
<b>
<font size=3D"3">
<img border=3D"0" src=3D"http://p=
19;s.prserv.net&#=
47;SpecialEditi=
1;n/partner_msnbc.gif" align=3D"left" width=3D"63" height=3D"50"> =
The Federal Open Market Committee of the U.S. Federal Reserve kept intere=
st
rates unchanged Tuesday, declaring that "though job losses have slow=
ed, new
hiring has lagged," indicating no plans for any rate increases in th=
e near
future.</font><font size=3D"3" face=3D"Times New Roman, Times, serif">
<a href=3D"http://www.msnbc.msn.com/id/4540475">More..</a></font></b></p>=
</TD></TR><TR>
<TD ALIGN=3D"left" HEIGHT=3D"60" width=3D"152"><P CLASS=3D"c3"><em>=
<strong>Financial Analysis</strong></em></P></TD>
<TD ALIGN=3D"left" HEIGHT=3D"60" width=3D"187">
<IMG BORDER=3D"0" SRC=3D"http://p=
;ws.prserv.ne=
6;/SpecialEditi=
on/login.jpg" WIDTH=3D"97" HEIGHT=3D"73"></TD></TR><TR valign=3D"=
top">
<TD HEIGHT=3D"183" COLSPAN=3D"2" width=3D"347"><p><b>$1,000,000.00 =
funded in
latest round of financing.</b></p><p><b>Total assets increased +118=
%
from last year from <u>$5,527,931</u> at December 31, 2002 to <u>$1=
2,090,479</u> at September 30,
2003.</b></p><p><b><font face=3D"Times New Roman, Times, serif">13 =
active regional offices in seven states.</font></b></p><p><font fac=
e=3D"Times New Roman, Times, serif" size=3D"3"><b>
Expansion applications pending in additional states.</b></font></p>=
</TD></TR></TABLE></td>
<td width=3D"334" height=3D"968" align=3D"right" valign=3D"top">
<TABLE CELLSPACING=3D"0" CELLPADDING=3D"5" WIDTH=3D"315" BGCOLOR=3D"#=
ffffff" BORDER=3D"0" height=3D"954"><TR>
<TD width=3D"154" HEIGHT=3D"83" ALIGN=3D"center"><font face=3D"Aria=
l"><em><strong>
Corporate Profile</strong></em></font></TD>
<TD width=3D"141" HEIGHT=3D"83" ALIGN=3D"right" VALIGN=3D"top">
<IMG SRC=3D"http://pws=
.prserv.net/S&=
#112;ecialEdition/=
confirmation.jpg" WIDTH=3D"97" HEIGHT=3D"73" hspace=3D"5" BORDER=3D"0"></TD=
></TR><TR>
<TD VALIGN=3D"top" ALIGN=3D"left" COLSPAN=3D"2" height=3D"491" wi=
dth=3D"305"><table cellSpacing=3D"0" cellPadding=3D"0" width=3D"100%" borde=
r=3D"0"><tr><td vAlign=3D"top"><table cellSpacing=3D"0" cellPadding=3D"1" w=
idth=3D"100%" height=3D"389"><tr><td height=3D"387">
<b><span style=3D"font-size: 12pt">F</span><font size=3D"3">irst Ch=
esapeake
Financial Corp., incorporated in 1992, is a financial services comp=
any
providing residential mortgage products and related services to its=
customers through its wholly owned mortgage banking subsidiaries. <=
/font></b><span class=3D"black11" id=3D"CONTENT_End">
<span style=3D"font-size: 12pt; font-weight: 700">The Company's
strategy is to offer a full range of mortgage products to borrowers=
of
various credit levels and distribute these loans in a risk averse m=
anner
through either bulk secondary market sales, loan sales to specific =
institutional investors, or brokering to niche
investors. Through this strategy, the Company anticipates pro=
fitability
and continued expansion with reduced exposure to interest rate and =
credit risks.</span></span><b><font style=3D"font-size: 12pt"> Reta=
il operations originate
loans directly from the consumer, while wholesale operations provid=
e an
efficient market for mortgage loans originated by its retail operat=
ions,
as well as loans purchased from third party
originators.</font></b></td></tr></table></td><td><img height=3D"1"=
src=3D"http://pws.p=
;rserv.net/Spe=
;cialEdition/shim.gif" =
width=3D"5"></td></tr></table></TD></TR><TR>
<TD ALIGN=3D"center" COLSPAN=3D"2" height=3D"340" width=3D"305"><=
P CLASS=3D"c8"><b><em><font face=3D"Arial">Analyst </font></em></b><em><b><=
font face=3D"Arial">Conclusion</font></b></em></P><P CLASS=3D"c8" align=3D"=
left"><b><font face=3D"Times New Roman, Times, serif" size=3D"3"> &nbs=
p;
We believe that the whole market is in a period of adjustment so =
it is
more important to find stocks with strong fundamentals that are
attractively priced. Mortgage lenders, while not very sexy,=
have
very strong balance sheets. </font></b></P><P CLASS=3D"c8" align==
"left"><b><font face=3D"Times New Roman, Times, serif" size=3D"3">
This looks like an explosive company with great potential based o=
n
strong fundamentals. Rock bottom rates are driving demand for all=
of its products and the company is quickly expanding into new locations.</=
font></b></P><P CLASS=3D"c8" align=3D"left">
<b><font face=3D"Times New Roman, Times, serif">For home sales, S=
pring
is king</font><font face=3D"Times New Roman, Times, serif" size=3D"=
3">
and Americans will be lining up to take advantage of the lowest
interest rates in recent history. </font>
<font face=3D"Times New Roman, Times, serif">These low rates will=
draw
buyers and positively impact First Chesapeake's bottom line.</fon=
t></b></P><P CLASS=3D"c8" align=3D"left"><b><font face=3D"Times New Roman, =
Times, serif">
<img src=3D"http://pws=
.prserv.net/S&=
#112;ecialEdition/=
receipt.jpg" width=3D"134" height=3D"76" border=3D"0"></font><font face=3D"=
Times New Roman, Times, serif" size=3D"2">Editing Chairman</font></b></P></=
TD></TR><TR>
<TD ALIGN=3D"center" COLSPAN=3D"2" width=3D"305" height=3D"1">&nb=
sp;</TD></TR></TABLE></td></tr></table></td></tr></table>
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