Marketing of exchange services has been increasingly incorporated into the marketing of our core title products. In order to better service our commercial clients, we have established a new Commercial Services Division. By improving coordination between our various division personnel, we will be able to handle commercial inquiries quicker and improve our customer service. 

Financial highlights of the year included an 11.5% increase in book value per share to $15.27. Assets increased 7.6% to $59,339,007 and stockholders equity increased 4.5% from $37,501,740 to $39,189,649. 

On May 9, 2000, the Board of Directors approved the purchase of an additional 500,000 shares of the Company’ s stock. In 2000, we purchased 175,175 shares of stock in the open market, which brought the number of outstanding shares down to 2,566,859. 

Our financial condition and the protection afforded to policyholders remains strong. Investors Title Insurance Company currently holds ratings by Lace Financial Corporation and Demotech, Inc. of “ A”  and “ A Double Prime,”  respectively. Northeast Investors Title Company currently holds ratings by Lace and Demotech of “ A”  and “ A Prime” . Lace and Demotech are two rating companies specializing in the title insurance industry. 

Other highlights from the year include several key promotions and additions to our corporate team. The ability to attract new business relationships and support existing ones is closely tied with the expertise and dedication of our people. The strengthening of our team will support our ongoing expansion efforts. 

Looking forward, we are excited about building on the progress we have made. There are numerous opportunities for us to pursue. We have the potential to tap additional new markets and improve and refine the way we conduct business. Thank you for your continued support. 

