The biggest challenge for any community bank is the future of its customers. The last thing we want to be doing is selling Oldsmobiles so it's important to not only take care of our existing base, but find new ways to attract the 20 and 30 somethings.

On the unforeseen

I probably didn't see the enormous regulatory environment and the amount of money we would spend on complying with rules and regulations that I don't know are truly necessary.

Everyone is super concerned about the ability to survive a mistake. Things move so quickly and the markets hold you to such short-term standards that oftentimes people do not take those bold chances they should for the long term.

On North Carolina industry

I'm amazed at how willing people are to save 50 cents or $1 on an item and not think about how or where it is made, or whether the people making it are living in slums or shacks without heat or electricity or water, as long as they can save a dollar or two on a shirt. Meanwhile the factory down the street that used to make that shirt no longer is. Although they lament the loss of those jobs, they're still packing the big-box stores.

On threats

I can see credit unions becoming more and more of a threat to community banks because they don't have to pay taxes and they sell the same products we do.

Another competitive threat is Wal-Martization, or a group like Wal-Mart that could own a bank. If you allow a Wal-Mart into banking as you have done in the grocery business, they really will knock the price down because of the enormous network they have and that would be a significant threat to communities across the nation

On incentives

I would prefer we didn't have to use incentives but dealing in the real world against other states that do, I believe it is important we do what ever we can to attract those jobs here.

On electronic culture

We can become inundated with data that does not always improve the decision-making process. You become overwhelmed. I talk a great deal about e-mail at our company. It is not uncommon for our associates to get 40 or 50 e-mails per day. Some executives and managers will get more than that. Personally I can't remember what the first one said, much less number 25 or 30. In that case, am I really absorbing what others are saying?