The foregoing factors should not be construed as exhaustive. Accordingly, you should not place undue reliance on any such forward-looking statements. We began operations in April 2002 with an initial capitalization of $8.6 million. In addition, we are committed to meeting the needs of the communities that we serve. We offer a wide array of commercial lending products to serve the needs of our customers. Credit Policy and ProceduresGeneral. The majority of these securities are classified as available for sale. The investment policy is reviewed annually by our Board of Directors. Deposits at the Bank are insured by the FDIC up to statutory limits. That rule took effect April 1, 2011. Much of the rulemaking under the Dodd-Frank Act has been completed. Guidance on Non-TDR Loan Modifications due to COVID-19. The Bank may pay cash dividends out of its net profits. The general assessments are paid pro-rata based upon a bank's asset size. Federal Bank RegulationSafety and Soundness. The FRA places additional limitations on extensions of credit to executive officers. We must conduct due diligence investigations of target institutions we intend to acquire. Uncertainty about the future of LIBOR may adversely affect our business.
