text: **Liquidity**
  
  Liquidity is our ability to meet cash demands as they arise. Such needs can develop from loan demand, deposit 
  withdrawals or acquisition opportunities. Potential obligations resulting from the issuance of standby letters of 
  credit and commitments to fund future borrowings to our loan customers are other factors affecting our liquidity 
  needs. Many of these obligations and commitments are expected to expire without being drawn upon; therefore the 
  total commitment amounts do not necessarily represents future cash requirements affecting our liquidity position. 
  The potential need for liquidity arising from these types of financial instruments is represented by the contractual 
  notional amount of the instrument, as detailed in Table 14. Asset liquidity is provided by cash and assets, which are 
  readily marketable or which will mature in the near future. Liquid assets include cash, federal funds sold, and short- 
  term investments in time deposits in banks. Liquidity is also provided by access to funding sources, which include 
  core depositors and correspondent banks that maintain accounts with and sell federal funds to our subsidiary banks. 
  Other sources of funds include our ability to sell securities under agreement to repurchase, which amounted to $26.7 
  million at December 31, 2002, and an unfunded $25.0 million line of credit established with a nonaffiliated bank 
  which matures on June 30, 2003. We believe the line of credit will be renewed upon maturity. Given the strong 
  core deposit base and relatively low loan to deposit ratios maintained at the subsidiary banks, management considers 
  the current liquidity position to be adequate to meet short- and long-term liquidity needs. 