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enhances our net interest margins. Retail deposits are also expected to help insulate our overall interest costs in the event that interest rates rise. 

As we look to the future, we remain focused on steadily expanding our consumer banking franchise. In order 

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to achieve this goal, we will continue to do the very same things that have made us successful over the past few years, which are to: maintain deep ties with our communities and customers; develop and implement marketing campaigns aimed at gathering retail deposits; maximize the potential of our CRM system; continue our branch renovation program, launched during 2002; and add new product offerings and services to meet the changing needs of our customers. 

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Growth in retail deposits is important because it represents a significant source of low-cost funding for Dime Savings’ lending activities. 

