text: good addition to the Sweetwater bank, and we are pleased 
  
  to have a location in the Trent community. 
  
  We are honored that Johnny Trotter, President and Chief 
  
  Executive Ofﬁcer of Livestock Investors, Ltd., has accepted 
  
  nomination for election as a new director of the Company 
  
  at our annual shareholder meeting in April 2003. He is 
  
  presently a director of the Hereford State Bank and a 
  
  prominent business, community and cattle industry leader. 
  
  Craig Smith, President and Chief Executive Officer of 
  
  Hereford State Bank, retired at the end of 2002, after 31 
  
  years of service to the bank. Craig also served as a direc- 
  
  tor on our Company board. Mike Mauldin, a well-known 
  
  Texas Panhandle banker with over 23 years of banking 
  
  experience, has been elected President and Chief Executive 
  
  Ofﬁcer of the Hereford State Bank to succeed Craig. 
  
  After 12 years of service, Curtis Harvey, Executive Vice 
  
  President and Chief Financial Ofﬁcer, will be leaving the 
  
  Company on March 31, 2003, to manage his new business 
  
  interest in Fort Worth. J. Bruce Hildebrand has been 
  
  elected to succeed Curtis. Bruce, a CPA, was a ﬁnancial 
  
  services audit partner at KPMG LLP, where he worked for 
  
  24 years. He is well-qualified for the Executive Vice 
  
  President/Chief Financial Ofﬁcer position due to his expe- 
  
  rience with publicly held companies and financial 
  
  institutions. The Board has also elected Gary L. Webb as 
  
  Executive Vice President/Operations. Gary has over 15 
  
  years of experience in the banking and consulting indus- 
  
  tries, and will be managing our technology, operations, 
  
  training and product development. Over the next several 
  
  years, we plan to make additional investments in technol- 
  
  ogy in order to expand our services and gain operating 
  
  efﬁciencies for the Company. 