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Leasing Industry Attorneys

    It's Official, Gamper to Peek----

        Bay View Capital Liquidations

            "Winning Leases with Value 5"

                Greater Bay Bank Conference/Matsco Op. Change

                    Sacramento, California Area Meeting Tonight 6:30pm

                Key Equip. Finance Names Dulaney Division Counsel

            Charter One Integrates Advance Bancorp Franchise

        Wells Has Best Website? What about Keystone Fin.?

    New Survey Report by CapitalStream

News Briefs--

    Sports Briefs--

This Day in American History



This Border ##### Denotes Press Release (Not Written By Leasing News)



Leasing Industry Attorneys



California - statewide: CA "ELA"

5-attorney creditors rights law firm, in biz 25 yrs +, specialize all aspects of creditor representation. Primarily represent equipment lessors & funders, plus collection and creditor rep. in bankruptcy.


California - statewide: Encino, CA. "ELA"

24 Attorney AV-rated Law firm representing the Leasing Industry for over 25 Years. We specialize in Lease-enforcement, collection and representation in Bankruptcy Court.


California, Northern - Statewide: CA "EAEL" "ELA" San Francisco expertise at San Rafael, CA prices; practice limited to equipment leasing and finance with 22 years experience, testimonials. Ken Greene, Esq. 415-721-7900


Connecticut, Southern New England: EVANS, FELDMAN & BOYER, LLC Collections, litigation, documentation, portfolio sales and financing, bankruptcy. We represent many of the national and local leasing companies doing business in this state. Past chairman EAEL legal committee. Competitive rates. EAEL


Los Angeles -statewide: CA "ELA "

Practice limited to collections, bankruptcy and problem accounts resolution. Decades of experience. 10-lawyer firm dedicated to serving you. Call Ronald Cohn, Esq. (818)591-2121 or email. Email:


Los Angeles, Statewide: CA. "ELA" Aggressive creditors rights law firm specializing in equipment leasing handling collection matters on a contingency, fixed fee or hourly basis.

NY Metro and National: Hackensack, NY

Attorney specializing in equipment lease matters for at least 10 years with a 50-State operating network of attorneys experienced in leasing matters. "ELA"



Full staff of attorneys and legal assistants work with Group Leader Barry S. Marks to ensure prompt, cost-effective responses to client needs:


National: Coston & Lichtman: Business attorneys serving the lease-finance industry since 1980. Transactional, documentation, corporate; workouts, litigation, bankruptcy. Chicago & Florida offices. Jim Coston, CLP (Members: ELA/UAEL/MAEL)





#### Press Release #############################################


It’s Official, Gamper to Peek----


(as New York Post reported June 16,2003


“Another Moon to rise

Signal my day is over

Goodbye the Poet”



CIT Elects Jeffrey M. Peek President & COO, Reorganizes Senior Management Structure


NEW YORK, -- CIT Group Inc. (NYSE: CIT) announced that Jeffrey M. Peek will become the company's President and Chief Operating Officer, as well as a member of the Board of Directors, effective September 3, 2003.




Formerly Vice Chairman of Credit Suisse First Boston Corporation, Mr.

Peek, 56, has held a number of executive positions at Merrill Lynch & Co. and

currently serves on the Board of Directors of Travelers Property Casualty



Mr. Peek will report to CIT Chairman and Chief Executive Officer Albert R.

Gamper, Jr. and oversee company operations with credit and all business units

reporting to him. In addition to Mr. Peek, several corporate staff

departments, including financial, legal, human resources, audit, marketing and

facilities will continue to report directly to Mr. Gamper.


"Jeff is an outstanding addition to CIT's executive management team; he's

a proven leader with both management and operational expertise and broad

financial services experience that complements the strengths of our existing

business leaders," said Mr. Gamper. "It is my expectation that Jeff will

succeed me as the company's Chief Executive Officer."


"I am excited to have the opportunity to join CIT and work with such

talented individuals as Al and his senior management team," said Peek. "I

believe my financial services experience will be helpful to CIT as we continue

to grow the company and meet the evolving needs of today's businesses."


In connection with Mr. Peek's appointment, Mr. Gamper today also announced

a reorganization of the company's senior management structure, creating a

five-person Office of the Chairman, effective September 3, that will be

responsible for overall strategic direction and policy.


In addition to Mr. Gamper and Mr. Peek, the Office of the Chairman will

include the following company officers:


* Joseph M. Leone, 50, who becomes Vice Chairman and Chief Financial

Officer, reporting to Mr. Gamper and holding responsibility for

accounting, treasury, technology, investor relations, corporate planning

and insurance.


* Lawrence A. Marsiello, 52, who becomes Vice Chairman and Chief Credit

Officer, reporting to Mr. Peek and holding responsibility for credit

policy and credit administration.


* Thomas B. Hallman, 50, who becomes Vice Chairman, Specialty Finance,

reporting to Mr. Peek and with continuing responsibility for the

management of the Specialty Finance Group which includes vendor

financing, private label financing, home equity lending and small

business lending.


"CIT's new management structure ensures that a solid platform of

leadership is in place to lead the company forward for many years to come. I

look forward to working closely with Jeff, and my colleagues in the Office of

the Chairman, to ensure a smooth transition as he takes over responsibilities

within the company," said Mr. Gamper.


About CIT:

CIT Group Inc. (NYSE: CIT), a leading commercial and consumer finance

company, provides clients with financing and leasing products and advisory

services. Founded in 1908, CIT has nearly $50 billion in assets under

management and applies its financial resources, industry expertise and product

knowledge to serve the needs of clients across approximately 30 industries.

CIT, a Fortune 500 company, holds leading positions in vendor financing, U.S.

factoring, equipment and transportation financing, Small Business

Administration loans, and asset-based and credit-secured lending. CIT, with

its principal offices in New York City and Livingston, New Jersey, has

approximately 6,000 employees in locations throughout North America, Europe,

Latin and South America, and the Pacific Rim. For more information, visit





### press release #####################################################


Bay View Capital Announces QII Net Assets in Liquidation


(Bay View Leasing was a major leasing company at one time, plus funded

other leasing companies, such as the one run by Steve Chriest. editor)


Bay View Capital (the Company) reported net assets in liquidation of $409.9 million, or $6.37 in net assets in liquidation per outstanding share at June 30, 2003 as compared to $411.0 million, or $6.41 in net assets in liquidation per outstanding share at March 31, 2003.


During the third quarter of 2002, the Company adopted liquidation basis accounting as a result of its stockholders' approval of a plan of dissolution and stockholder liquidity and subsequent completion of the sale of its retail banking assets to U.S. Bank, N.A. In accordance with accounting principles generally accepted in the United States of America, under the liquidation basis of accounting, the Company is now reporting the value of, and the changes in, net assets available for distribution to stockholders ("net assets in liquidation") instead of results from continuing operations.


The second quarter decrease in net assets in liquidation was primarily the result of dividends paid on the Capital Securities which was in excess of income from operations. The proceeds from stock options and warrants exercised during the quarter totaled $0.6 million as compared to $2.6 million during the first quarter. Net income from operations was $0.6 million for both the second quarter and the first quarter of 2003.


The net income from operations for the second quarter consisted of $0.7 million of pre-tax income from operations, $0.9 million of net charges for liquidation valuation adjustments which were largely attributable to write downs on the auto lease and liquidating loan portfolios, and a tax benefit of $0.8 million.


"Despite the $0.9 million of charges for the liquidation valuation adjustments and a challenging business and economic environment, our second quarter results were better than plan," commented John Okubo, CFO of Bay View Capital. "This was largely attributable to better yield on our liquidating loan portfolio which resulted in favorable interest income."




#### Press Release #################################################


“Winning Leases with Value 5”



Arcadia, CA-. The Leasing Library adds an outstanding, new product to its’ already impressive list of leasing oriented books, reports and industry related software.


“Winning Leases with TValue5” is a step-by-step guide that takes the reader from the most basic lease pricing to advance lease structures such as multiple advance payments, residuals, refundable security deposits, step, skip and touch payment leases. Learning to calculate commissions, solving for present value or an interest rate are all presented in easy to understand detail. Numerous exercises are presented to give the reader the pricing and structuring skills they need.


Readers will also learn the ins and outs of funding their leases and how to avoid leaving money on the table when discounting the rental stream.


Winning Leases with TValue5helps Lessors combine the power, speed and accuracy of TValue5, the standard for interest calculations and loan amortization, with leasing industry specific applications. Financial calculators will now spend most of their time as paper weights.


Lessors will find “Winning Leases with TValue5” not only an excellent training tool but a handy reference source.


“Winning Leases with TValue5” was developed by experienced leasing professionals to help Lessors quickly, accurately and easily create winning lease structures.


Release date for “Winning Leases with TValue5” is August 1, 2003 and will be available only in an e-book (PDF) format.


Advance orders may be placed at: for shipment on the release date.


For more information, contact Ted Parker, CLP, at 626/305-1053, email or visit the website at


Contact: Ted Parker

626/305-1053 Voice

626/305-0019 Fax



#### press release #####################################################


Greater Bay Bank Conference/Matsco Op. Change


Highlights from the Conference call ---Didn’t sell any Matsco loans (securitizations

last quarter due to operational problems, these loans are in the 1 ½ million to 2 million dollar range---problem is primarily due to a front system conversion,

not complete, that will allow Matsco to save a quarter million a month in operation

expenses when it is up and running ( said in question and answer session at end

of conference). Basically Greater Bay Bank is a “business bank” and should not

be compared to peers who are more into consumer finance, they are a relationship bank and want to continue in that manner. Personal guarantees are important in real estate

because in many instances the president of the bank can go to the person directly

and ask them to stand up; the bank plans to be tight on operations and even more so,

the local economy has been one of the toughest, especially the last couple of years,

but the bank is in a strong position when the bay area turns around, capital level

is very strong, although loans have been sluggish recently, but perhaps will

move soon as there are some signs, less commercial real estate loans, no residential mortgages on balance sheet, loans were “flat,” didn’t sell any Matsco loans this last quarter due to operational problems, but plan to soon in the 1 ½ to 2 million dollar range)


A telephone replay is available through midnight on July 30, 2003, by dialing 800-642-1687 or 706-645-9291 and providing Conference ID 1572019.


Stock closed at $19.879.

Day’s Range: $18.90 - $20.00

52 week range $12.69-$27.25


More about the bank and its locations:


Here is the bank press release:


Greater Bay Bancorp Reports Net Income of $48 Million for the First Six Months of 2003; Credit Quality Stable



PALO ALTO, Calif., -- Greater Bay Bancorp (Nasdaq:GBBK), an $8.1 billion in assets financial services holding company, announced results for the second quarter and six months ended June 30, 2003.


For the second quarter of 2003, Greater Bay Bancorp's net income was $23.1 million, or $0.41 per diluted share, compared to $33.5 million, or $0.62 per diluted share, for the second quarter of 2002. Based on net income for the second quarter of 2003, Greater Bay Bancorp's return on average equity was 12.97% and return on average assets was 1.15%. For the second quarter of 2002, net income resulted in a return on average equity of 22.48% and a return on average assets of 1.60%.


For the first six months of 2003, Greater Bay Bancorp's net income was $48.2 million, or $0.86 per diluted share, compared to $61.1 million, or $1.14 per diluted share, for the first six months of 2002. Based on net income for the first six months of 2003, Greater Bay Bancorp's return on average equity was 13.80% and return on average assets was 1.22%. For the first six months of 2002, net income resulted in a return on average equity of 21.47% and a return on average assets of 1.50%.


The $0.21 decline in earnings per diluted share for the second quarter of 2003 and the $0.28 decline in earnings per diluted share for the first six months of 2003, compared to the same periods a year ago, were attributable primarily to the following factors:



-- market interest rate reductions reduced the Company's net

interest margin by 48 basis points in the second quarter of

2003 and 43 basis points in the first six months of 2003,

resulting in approximately an $(0.11) and $(0.19) decline in

earnings per diluted share, respectively,


-- planned reduction in the Company's interest earning asset base

(primarily the investment securities portfolio) reduced

earnings per diluted share by approximately $(0.07) and

$(0.12) for the second quarter of 2003 and first six months of

2003, respectively,


-- outside consulting costs related to enterprise-wide risk

management and regulatory compliance amounted to approximately

$1.3 million in the second quarter of 2003 and $2.2 million in

the first six months of 2003, or approximately $(0.02) and

$(0.03) per diluted share, respectively.


Non-Interest Income


The Company continues to focus on increasing non-interest income. Non-interest income for the second quarter of 2003 increased to $42.3 million from $39.5 million in the second quarter of 2002. Non-interest income for the first quarter of 2003 was $44.8 million. While gains on investment securities were $1.1 million higher in the second quarter of 2003 compared to the first quarter of 2003, gains on the sale of loans were $1.2 million lower for the same period due to the Company's decision not to sell any Matsco loans in the second quarter. Non-interest income for the first six months of 2003 increased to $87.1 million from $62.1 million in the first six months of 2002, of which $20.1 million was related to an additional two and one-half months of ABD's commissions and fees.


Non-interest income as a percentage of total revenues for the second quarter and first half of 2003 was 36.44% and 36.74%, respectively, compared with 30.83% and 26.06% for the second quarter and first half of 2002 and 37.02% for the first quarter of 2003. The first half of 2002 included only three and one-half months of ABD's commissions and fees.


In July 2003, ABD completed the acquisition of Sullivan and Curtis Insurance Brokers of Washington LLC (S&C), an insurance brokerage firm located in Seattle, Washington. The acquisition, which we anticipate will be neutral to 2003 earnings and marginally accretive to 2004 earnings, was a strategic move for ABD, as it allows ABD to expand its market reach and enhance its position as the premier regional West Coast firm. The S&C acquisition also adds new business lines to ABD's product offerings, including marine insurance. Greater Bay Bancorp estimates that the acquisition will add approximately 8% to ABD's revenue stream.


Balance Sheet


At June 30, 2003, Greater Bay Bancorp's total assets were $8.1 billion, total loans were $4.7 billion, total investments, primarily mortgage-backed securities, were $2.7 billion and total deposits were $5.5 billion. From June 30, 2002 to June 30, 2003, total loans were flat, total investments decreased 17% to $2.7 billion, and total deposits increased 5% to $5.5 billion. The net deposit growth for the 12 month period reflects a reduction of $107.3 million in wholesale deposits. Core deposits, which exclude wholesale deposits, grew by $356.4 million or 8% from the second quarter of 2002 versus the second quarter of 2003.


Credit Quality


Net charge-offs in the second quarter of 2003 were $6.5 million, or 0.55% of average annualized loans, compared to 0.72% in the second quarter of 2002. Non-performing assets of $49 million at June 30, 2003 increased from $40 million at March 31, 2003. The net increase was primarily the result of one Shared National Credit (SNC) loan becoming non-performing. The ratio of non-performing assets to total assets was 0.61% at June 30, 2003, compared to 0.51% at March 31, 2003 and 0.50% at June 30, 2002. The allowance for loan losses was $130 million or 2.75% of total loans at June 30, 2003, compared to $130 million or 2.74% at March 31, 2003 and $126 million or 2.68% at June 30, 2002.


During the past year, total commitments in our SNC portfolio have been reduced by $107 million, or 60%, and the funded amount has been reduced by $80 million, or 58%. The total SNC non-relationship portfolio as of June 30, 2003 had commitments of only $31 million and a funded amount of $28 million. Subsequent to quarter-end, the Company further reduced its SNC non-relationship loan portfolio by selling a loan with a net book value of $5.07 million for $5.04 million, resulting in a $30,000 loss. After the loan sale, the SNC non-relationship loans outstanding comprise less than 0.5% of loans outstanding.


David Kalkbrenner, President and CEO, stated, "The efforts of our relationship managers continue to show positive results on the levels of net charge-offs and nonperforming assets. With a strong loan loss reserve, we believe we are well-positioned to weather current economic conditions."


Capital Ratios


The capital ratios of Greater Bay Bancorp and each of its subsidiary banks remain above the well-capitalized guidelines established by the bank regulatory agencies. The Company's tangible equity to asset ratio increased to 6.91% at June 30, 2003 from 6.69% at March 31, 2003 and 5.43% at June 30, 2002. The Company's leverage ratio also increased during the second quarter of 2003 to 9.29% from 9.18% in the first quarter of 2003 and 7.77% one year ago, while the total risk-based capital ratio increased to 13.55% at June 30, 2003 from 13.34% at March 31, 2003 and 12.26% at June 30, 2002.


When the Company's capital ratios are compared to those of the top 75 U.S. Banks (by asset size) at March 31, 2003, the Company (ranked 62nd by asset size) had tangible equity, leverage, tier 1 and total risk-based capital ratios equal to or exceeding the top 75 U.S. Banks' average ratios.


Mr. Kalkbrenner commented, "During this last quarter, we engaged an outside firm to help us develop an economic capital allocation model that incorporates economic factors, historical factors and our actual operating results to measure our capital levels in relation to our risk profile. The preliminary results of this project indicate that our risk profile and capital position should provide us with the flexibility to continue to manage capital in the best interests of our shareholders."


Net Interest Margin


Greater Bay Bancorp's average net interest margin for the second quarter of 2003 was 4.11% compared to 4.33% for the first quarter of 2003 and 4.59% for the second quarter of 2002. The end-of-period net interest margin remained relatively flat at 4.10%.


Mr. Kalkbrenner commented, "Low market interest rates continue to put significant pressure on our net interest margin. Beginning in the second quarter of 2002, we began to defensively position the balance sheet to be more asset sensitive by reducing our fixed rate investment portfolio from $3.2 billion to $2.7 billion with a year-end target of $2.2 billion."


Mr. Kalkbrenner continued, "We have had many opportunities to add to our net interest income in the short-term by extending investment security maturities or expanding the balance sheet, but we believe the risks of that strategy in this low interest rate environment would not be prudent interest rate risk management. When market interest rates begin to rise, our balance sheet will be positioned for growth and margin expansion and will not be saddled with assets that could hinder our flexibility."


Interest Rate Risk Management


The Company continues to proactively manage its interest rate risk exposure to ensure that it is positioned for long-term success compared to short-term earnings goals that would not be sustainable in a rising interest rate environment. The Company's current strategy, which is continually reviewed in relationship to market conditions, includes a gradual reduction of the investment securities portfolio. This strategy will continue to reduce current net interest income in the near-term, but will position the Company to take advantage of an improving economy and rising market interest rates over the longer term. Because the balance sheet is positioned to be more asset sensitive, the Company's net interest margin will continue to be pressured by the latest declines in market interest rates. Should rates continue to trend down or remain at their current low levels, the Company's net interest margin would decline further.


Operating Expenses


Operating expenses decreased by $1.1 million to $72.2 million (which included $1.3 million in regulatory related consulting costs) during the second quarter of 2003 from $73.3 million in the first quarter of 2003, which was primarily the result of the seasonal impact of payroll taxes and benefit costs. Operating expenses increased by $6.7 million to $72.2 million during the second quarter of 2003 compared to $65.5 million in the second quarter of 2002, primarily due to increased salary and benefits of $3.4 million, regulatory related consulting costs of $1.3 million and increases in professional and legal fees of $1.2 million.


The Company's efficiency ratio for the second quarter of 2003 was 62.21% (56.04% excluding the income and expenses of ABD), compared to 51.10% (43.93% excluding ABD) for the second quarter of 2002. For the first half of 2003, the efficiency ratio was 61.42% (55.66% excluding the income and expenses of ABD), compared to 48.47% (43.42% excluding ABD) for the first half of 2002.


Mr. Kalkbrenner commented, "We have incurred considerable expenses in proactively enhancing our risk management systems to ensure they will support our future growth. While it is difficult to quantify the value of the investment in systems and people that we have made, I am confident that it will position us to enhance the Company's performance as the economy recovers."



Outlook for Remainder of 2003


-- Loan growth -- continued focus on quality and relationships --

business loan growth is expected to increase slightly in the

last half of 2003,

-- Deposit growth -- commensurate with our relationship

philosophy, the Company is committed to expanding its deposit

base and selectively adding new clients -- the Company

anticipates deposit growth in the range of 5% to 10% for the

remainder of the year,

-- Net interest margin -- the Company anticipates slight margin

compression throughout 2003 without market interest rate

reductions -- if market interest rates decline, the Company

would expect continued margin pressure. For every 25 basis

point decline in market interest rates, the net interest

margin is estimated to decline approximately 10 basis points

to 20 basis points, depending on the mix of assets and


-- Credit Quality -- continued aggressive management of credit

risk, and based on the current outlook, the Company believes

net charge-offs will be in the range of 60 basis points to 70

basis points for 2003.


CONTACT: At Greater Bay Bancorp:

David L. Kalkbrenner, 650-614-5767

Steven C. Smith, 650-813-8222


At Silverman Heller Associates:

Philip Bourdillon/Gene Heller, 310-208-2550



full financials and release here:



### Press Release #####################################################



**** announcement **********************************************


Sacramento, California Area Meeting Tonight 6:30pm



Not too late for an ad hoc meeting of brokers/funders/attorneys

at the Sheepherder Inn located at 11275 Folsom Boulevard in Rancho Cordova (near the intersection of Highway 50 and Sunrise Boulevard).


The meeting will begin with no host cocktails around 6:30.

Dinner will be served around 7:00. The cost is $35.00 per person.


Cary Boyden, of the law firm Boyden, Cooluris, Livingston & Saxe is

the featured speaker. His specialty is leasing law and he will talk about

the California Finance Lenders License. This topic has generated a lot of

discussion among brokers. Several articles relating to this topic have

appeared in LeasingNews mostly as a result of CMC's demise.

***** announcement ***************************************



### press release ################################################


Key Equipment Finance Names Carol J. Dulaney Division Counsel


SUPERIOR, CO, -- Key Equipment Finance, one of the nation's

largest bank-held equipment financing companies, has appointed Carol J.

Dulaney as division counsel. Dulaney is responsible for coordinating legal

services and assisting in the supervision of various legal resources for

Key Equipment Finance and its U.S. vendor leasing relationships. Her office

is located at the Key Equipment Finance international headquarters outside

Boulder, Colorado.


"We are thrilled to have someone of Carol's experience and talent join our

distinguished team of Key Equipment Finance lawyers," said Jeanne Early,

senior vice president and Key Equipment Finance general counsel. "She will

be a great asset as we achieve our goals of delivering top-notch client



Prior to joining Key, Ms. Dulaney served as operations counsel for General

Electric Capital Vendor Financial Services in Nashville, Tennessee, for

nine years. Previously she had been senior corporate counsel for Nortel

Networks and senior corporate attorney, vice president and assistant

corporate secretary for the now defunct IFG Leasing Company, a subsidiary

of InterRegional Financial Group.


Ms. Dulaney earned her bachelor of art degree with high honors from the

University of Montana in Missoula and her juris doctor from the University

of Montana Law School.


Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides

business-to-business equipment financing solutions to businesses of many

types and sizes. They focus on four distinct markets:

· businesses of all sizes in the U.S. and Canada (from small business

to large corporate);

· equipment manufacturers, distributors and value-added resellers


· federal, provincial, state and local governments as well as other

public sector organizations; and

· lease advisory services for manufacturers' captive leasing and

finance companies.


Headquartered outside Boulder, Colorado, Key Equipment Finance oversees an

$8 billion equipment portfolio with annual originations of approximately $3

billion. The company has major management and operations bases in Toronto,

Ontario; Albany, New York; London, England; and Sydney, Australia. The

company, which operates in 24 countries and employs more than 600 people

worldwide, has been in the equipment financing business for 30 years.

Additional information regarding Key Equipment Finance, its products and

services can be obtained online at


Cleveland-based KeyCorp is one of the nation's largest bank-based financial

services companies, with assets of approximately $86 billion. Key companies

provide investment management, retail and commercial banking, retirement,

consumer finance, and investment banking products and services to

individuals and companies throughout the United States and, for certain

businesses, internationally. The company's businesses deliver their

products and services through KeyCenters and offices; a network of

approximately 2,400 ATMs; telephone banking centers (1.800.KEY2YOU); and a

Web site,, that provides account access and financial products 24

hours a day.




Lisa A. Miller, Corporate Development

Key Equipment Finance


P.O. Box 1865

Albany NY 12201-1865

Phone: (518) 257-8235

Fax: (518) 257-8821



#### Press Release ####################################################


Charter One Successfully Completes Integration of Advance Bancorp Franchise


Charter One Financial, Inc. (NYSE: CF) said that as part of its ongoing and aggressive expansion in Greater Chicagoland, Advance Bancorp, Inc. has officially changed its name to Charter One Bank, reopening 14 full-service retail bank offices with new signage.


The name change came following the successful integration of Advance Bankoperations and customer accounts into Charter One Bank.



Charter One has $44 billion in total assets, making it one of the 25 largest bank holding companies in the country. The Bank has 522 banking center locations in Ohio, Michigan, New York, Illinois, Massachusetts, and Vermont and entered Connecticut with a banking center opened in June 2003. The Company's diverse product set includes: consumer banking, indirect auto finance, commercial leasing, business lending, commercial real estate lending, mortgage banking,

and retail investment products.


Charter One's presence throughout the Chicagoland area encompasses more than $6.6 billion in deposits, with 99 full-service retail offices and almost 500 ATM locations, making it one of the region's largest banks.


"We welcome our new customers to Charter One and look forward to the opportunity to serve them and the communities where they live and work," said Anthony Sisto, Charter One's Illinois division president. "The successful integration of Advance marks a significant milestone in our ongoing expansion in Greater Chicago."


Customers can take advantage of Charter One's many great products and services including the Best Free Checking, Totally Free Business Checking, free

Online Banking and Bill Payment, 24-hour ATM access, home mortgages, line of credit and business lending services.

Mark Grossi, Charter One's executive vice president and chief retail officer, said, "Having Advance now part of the Charter One family puts us in more locations to better serve increasing numbers of consumers and small

business customers in Greater Chicago with the high-value products they have come to expect from Charter One."

In January 2003, Charter One Financial, Inc., the holding company for Charter One Bank, announced the acquisition of Advance for $72 million in Charter One common stock. The acquisition of Advance was completed on June 6,


For additional information, including press releases, investor presentations, committee charters, and reports filed with the SEC, investors are directed to Charter One's web site:


SOURCE Charter One Financial, Inc.




Cindy Schulze

Charter One

(216) 298-7155




### Press Release ################################################


Wells Fargo Has Best Internet Website (after


Wells Fargo & Company ( announced that Global Finance Magazine has recognized Wells Fargo as the Best Commercial Internet Bank in the United States. Wells Fargo was also named having the best integrated website - for both consumer and corporate banking - in the United States.


"We are extremely pleased to be honored with this award and receive recognition by a global business audience," said Danny Peltz, senior vice president for Wells Fargo's Wholesale Internet Solutions. "We continue to focus on execution and helping customers realize efficiencies. It's not just what we deliver, but how we deliver. We are taking customer centric to the next level. We go to great lengths to diagnose our customers' needs in order to deliver industry-leading solutions that simplify their lives."


This nomination was part of the Magazine's "World's Best Internet Banks" (2003) survey, which will be published in the December 2003 issue. Winners were judged by a world-class panel, consisting of representatives from Bearing Point, Deloitte & Touche, Logica, Neoris and Tata Infotech.


Wells Fargo's CEO (Commercial Electronic Office) portal led to the winning of this prestigious award. The CEO is Wells Fargo's online portal that provides a single point of entry for all wholesale services and offers businesses an easy way to address all of their banking needs. The CEO portal also provides Wells Fargo's middle market customers with one of the most comprehensive suites of financial services including: credit and loan services, purchasing services, international services, trust and investment services and cash management and treasury services. In just under three years, more than 50% of Wells Fargo's commercial customers have enrolled in the CEO portal.


On the consumer side, the Bank's industry leading bill pay and presentment service and unique cross-channel alerts were factors for the Gomez and Global Finance rankings. With 263 e-bills, Wells Fargo has more e-bills than any other financial institution. Wells Fargo is also the only financial institution to send email alerts notifying customers that a bill has arrived, been sent, or that no payment is scheduled. The Bank's unique cross channel alerts capability was recently featured in a Forrester report.


"We have been successful in providing our customers with a simple, integrated and relevant experience across," said Sona Chawla, senior vice president, Internet Services Group. "We will continue to focus on providing seamless integration, ease-of-use and enhanced convenience to our customers."


*** don’t miss this page at Keystone Financial:



### Press Release ######################################################


New Survey Report by CapitalStream


The 2003 Commercial and Equipment Finance Survey Report was conducted with over 200 commercial lending and banking executives to determine how banks, finance companies and other commercial finance providers are managing their relationships, improving their processes and enhancing their systems to grow their business. The research focuses on what banks are doing to more efficiently originate loans, leases, lines of credit, asset-based financing and other commercial finance instruments.


Results from this survey will be useful in helping executives understand industry trends and how industry leaders are enhancing processes and systems to improve customer satisfaction, generate more revenue, reduce processing times and better manage risk. To request your FREE copy of completed research report, please fill out the form below:



CapitalStream Request the 2003 Commercial and Equipment Finance Survey Report






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House votes to throw out FCC media ownership rules




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Famous racehorse was Bay Area `local boy'


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Fox: 4 QBs have shot at top job


Rogers signs with Lions




This Day in American History


    1651- African Anthony Johnson was granted 250 acres of farmland in Northampton County, Virginia. He was one of the first 20 Africans to arrive in Jamestown, VA, in     1619. Anthony nearly lost his life in the spring of 1622. Virginia's Powhatan Indians, threatened by the encroachments of tobacco planters, staged a carefully-planned attack that took place on Good Friday. By the middle of the day, over three hundred and fifty colonists were dead. On the plantation where Anthony worked, fifty-two were killed. Only Anthony and four other men survived. In some ways he was a lucky man. To be sure, finding yourself in bondage on a Virginia tobacco plantation was not the result of good luck, but Anthony Johnson would rise above his low status and undoubtedly become the envy of many colonists. Anthony Johnson first arrived in Virginia in 1621. Referred to as "Antonio a Negro" in early records, Anthony went to work on a tobacco plantation. It's not clear whether he was an indentured servant (a servant contracted to work for a set amount of time) or a slave. Anthony nearly lost his life in the spring of 1622. Virginia's Powhatan Indians, threatened by the encroachments of tobacco planters, staged a carefully-planned attack that took place on Good Friday. By the middle of the day, over three hundred and fifty colonists were dead. On the plantation where Anthony worked, fifty-two were killed. Only Anthony and four other men survived.

Anthony's luck continued. Several years later, "Mary a Negro" was brought in to work on the plantation -- she was the only woman on the plantation. At the time, Virginia was populated almost exclusively by men. Still, Anthony and Mary became husband and wife, and they had four children. In 1665 Anthony and his family sold their 250 acres and moved to Maryland, where they leased a 300-arce tract of land. Anthony died five years later, in the spring of 1670; Mary renegotiated the lease for another 99 years. That same year, a court back in Virginia ruled that, because "he was a Negro and by consequence an alien," the land owned by Johnson (in Virginia) rightfully belonged to the Crown.

    1701-Anniversary of the landing at the site of Detroit by Antoine de la Mothe Cadilac in the service of Louis XIV of France. Fort Ponchartrain due Detroit was first settlement on site.

    1842-Birthday of writer Ambrose Bierce.

    1847—“The Mormons” settle in Utah’s Great Salt Lake Valley. The land, at the

time, was Mexican territory.

    1866- Tennessee was the first state readmitted to the Union after the Civil War.

    1897-Birthday of Amelia Earhart, American aviatrix lost on flight from New Guinea to Howland Island, in the Pacific Ocean, July 2, 1937. First woman to cross the Atlantic solo and fly solo across the Pacific from Hawaii to California. Born at Atchison, S. 1900-Birthday of Zelda Fitzgerald, first wife of novelist F. Scott Fitzgerald.

    1906-birthday of alto sax player Johnny Hodges, Cambridge, MA

    1908 Charles “Cootie” Williams Birthday

    1909—Birthday of Swing trumpeter Joe Thomas, Groves, MO.

    1916-Birthday of great detective writer John D MacDonald (Deep Blue Goodbye) Died 1968.

Travis McGee series ( have read them all, he is one of my favorite authors )

    1919- Race Riot in Washington DC (6 killed, 100 wounded)

    1921-Birthday of pianist Billy Taylor, Greenville, NC

    1924-Birthday of African-American Townsend “Sonny Brewster”, playwright and activist.

    1936-Birthday of James Lee (Jim) Brock, college baseball coach born at Phoenix, AZ. Brock was an outstanding coach at Arizona State University. His Sun Devils won the College World Series in 1977 and 1981, and his teams compiled a record of 977 wins and only 378 losses. Died at Mesa, AZ, June 12, 1994.

    1936 118ø F (48ø C), Minden, Nebraska (state record)
    1936 121ø F (49ø C), near Alton, Kansas (state record)

    1937-Alabama drops charges against five blacks accused of rape in Scottsboro

    1937-The Farm Security administration (FSA) was established through passage of the Bankhead-Jones Act. The FSA was empowered to make four-year on at 3% interest to aid farm tenants, sharecroppers, and laborers.

    1938-Birthday of Mike Mainier, vibes, New York, NY

    1938-Artie Shaw records “ Begin the Beguine.” ( Bluebird 7746)

    1939-Birthday of saxophonist Charles McPherson, Joplin, MO.

    1940- Cynthia Moss birthday - U.S. wildlife biologist. Primarily an elephant researcher, she proved that elephants are led by the oldest and the wisest cow and that the males are inveterate bachelors. She was senior associate of the African Wildlife Foundation. Partly because of Moss's research, other women researchers have shown that most herd animals are led by the oldest and wisest female, not the male who is generally used for defense. Even the old idea that the dominant male was the primary breeder has been disproved.

    1944- during WWII the US Army ordered ( this day ) desegregation of its training camp facilities. Later the same year black platoons were assigned to white companies in a tentative step toward integration of the battlefield. However it was not until after the War—July 26, 1948—that President Harry Truman signed an order officially integrating the armed forces.

    1945- as the Potsdam Conference came to a close in Germany, Churchill, Truman and China’s representatives fashioned a communique to Japan offering it an opportunity to end the war. It demanded that Japan completely disarm, allowed them sovereignty to the four main islands and to minor islands to be determined by the Allies, and insisted that all Japanese citizens be given immediate and complete freedom of speech, religion and thought. The Japanese would be allowed to continue enough industry to maintain their economy. The communique concluded with a demand for unconditional surrender. Unaware these demands were backed up by an atomic bomb, on July 26 Japanese Prime Minister Admiral Kantaro Suzuki rejected the Potsdam Declaration.

    1949---Top Hits

Some Enchanted Evening - Perry Como

Bali Ha’i - Perry Como

Again - Gordon Jenkins

One Kiss Too Many - Eddy Arnold

    1952 112ø F (44ø C), Louisville, Georgia (state record).

    1953-Birthday of trumpet player Jon Faddis, Oakland, CA

    1956 – It was “yesterday” in 1946 that they first appeared. After a decade together as the country’s most popular comedy team, Dean Martin and Jerry Lewis called it quits this night. They did their last show at the Copacabana nightclub in New York City. The duo ended their relationship exactly 10 years after they had started it.

    1957---Top Hits

Teddy Bear - Elvis Presley

Love Letters in the Sand - Pat Boone

It’s Not for Me to Say - Johnny Mathis

Bye Bye Love - The Everly Brothers

    1959- Vice-President Richard Nixon argued with Khrushchev, known as "Kitchen Debate" He had arrived in Moscow, beginning a two-week tour of the U.S.S.R., and Poland. The next day he held a highly publicized kitchen debate, a discussion

with Soviet Premier Nikita S. Khrushchev while standing before a kitchen exhibit in the U.S. exhibition in Moscow. After the impromptu, so-called kitchen debate, Nixon formally opened the exhibition

    1961—A U.S. passenger jet was hijacked. An armed passenger forced the pilot of an Eastern Airlines Electra en route to Tampa from Miami to divert to Havana., Cuba., later entrusted the plan to the UN Security Council to discourage what it alleged to be “imminent military aggression” by the U.S. This was the beginning of a trend, hijacking planes to Cuba..

    1964-birthday of baseball player Barry Bonds, six-time All-Star, three-time National League MVP, born Riverside, CA.

    1965---Top Hits

(I Can’t Get No) Satisfaction - The Rolling Stones

I’m Henry VIII, I Am - Herman’s Hermits

What’s New Pussycat? - Tom Jones

Before You Go - Buck Owens

    1969 - Hoyt Wilhelm, pitching for the Chicago White Sox, set a major-league baseball record by pitching in game number 907 of his career. Wilhelm went on to lead all major-league hurlers (number of games pitched) with 1,070 in his career (1952-1972).

    1971- Apollo 15 launched this date. Astronauts David R. Scott and James B. Irwin landed on moon (lunar module Falcon) while Alfred M. Worden piloted command module Endeavor. Rover 1, a four-wheel vehicle, was used for further exploration. Departed moon Aug 2, after nearly three days. Pacific landing Aug 7.

    1973---Top Hits

Bad, Bad Leroy Brown - Jim Croce

Yesterday Once More - Carpenters

Shambala - Three Dog Night

Love is the Foundation - Loretta Lynn

    1974-In a decision on the White House tapes, the Supreme Court ordered that special prosecutor Leon Jaworski’s subpoena of tapes and documents be honored by the White House. It ruled that presidential privilege did not apply to evidence required in prosecuting Watergate-related crimes President Nixon turned over the materials on July 30 and August 5.

    1978 - Billy Martin was fired. He was replaced this time by Bob Lemon. It was the first of three times the manager of the New York Yankees baseball team would get the boot. Martin would be canned again in 1979 and in 1983, each time by Yankees owner George Steinbrenner... "the one is a born liar the other a convicted one" comment about Steinbrenner and Jackson

    1979 -At Fenway Park off A's hurler Mike Morgan, Red Sox first baseman Carl Yastrzemski becomes the 18th major leaguer and seventh in the American League to hit 400 home runs. 'Captain Carl' will end his 23-year career with 452 homers.

    1981---Top Hits

Bette Davis Eyes - Kim Carnes

All Those Years Ago - George Harrison

The One that You Love - Air Supply

Feels So Right - Alabama

    1983 - Kansas City Royals slugger George Brett slammed a two-run homer with two outs in the ninth inning to give the Royals a 5-4 lead over New York. Or did he? Seconds after Brett crossed home plate, New York Yankees Manager Billy Martin came out of the dugout to protest that the pine tar on Brett's bat was more than 18 inches up the bat handle. The umpires measured Brett's bat, using home plate as a measuring rod, and came to the conclusion that Martin was correct and called Brett out, erasing the Royals lead. Or did they? The president of the American League, Lee McPhail, later reversed the umpires' decision on the pine tar and ruled that the game was suspended -- with the Royals leading, 5-4. The game was completed 3 1/2 weeks later, on August 18, 1983, in Yankee Stadium. The outcome of the game? It only took 12 minutes to play the remainder of the contest with the Royals tarring the Yankees 5-4.

    1984 - After 14 years and four Super Bowl championships with the Pittsburgh Steelers, Terry Bradshaw retired from the National Football League. Bradshaw, age 35, was forced to the sidelines by an elbow injury. Following a divorce from ice skater Jo Jo Starbuck, Bradshaw joined CBS as a football analyst.

    1989---Top Hits

Toy Soldiers - Martika

Express Yourself - Madonna

Batdance - Prince

What’s Going on in Your World - George Strait

    1998 - “In the last great invasion of the last great war, the greatest danger for eight men ... was saving one.” That one was one Private James Ryan and the story of the search for him, "Saving Private Ryan", opened in U.S. theatres this day. Produced and directed by one Steven Spielberg, the movie earned $30.58 million the first weekend



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