Richard L. Furr

Operates as a bank holding company whose subsidiary provides banking services

National commercial bank

CCB's equity investment approach combines market diversification with the fundamental and quantitative analytical selection of individual securities in high quality, relatively undervalued companies with good management teams, proven track records, superior financial characteristics, strong competitive positions and above average earnings growth potential. Their primary objective is to provide long-term capital appreciation by investing in large- and mid-cap U. S. stocks with higher overall return potential, while controlling additional risk through market diversification using industry sector weightings approaching that of the S&P 500. Market sectors include financials, utilities, materials, technology, consumer discretionary, consumer staples, energy, industries, health care and telecommunications. CCB's large-cap value strategy consists of a diversified portfolio of common stocks seeking long-term capital appreciation through investment in U.S. companies. The portfolio management team uses quantitative methods to identify undervalued companies with positive estimate revisions and the potential to report a succession of positive earnings surprises. Their objective is to achieve returns above the S&P 500 and Russell 1000 Value indexes. The firm takes a conservative approach in managing fixed-income investments that maximizes current investment yield within an intermediate-term maturity structure. Managers continually seek fixed-income products with the greatest relative value, while remaining within a narrow maturity range to diminish the volatility of market value as interest rates, market factors and economic conditions change. Their fixed-income portfolios experience relatively low asset turnover, with opportunities for yield enhancement driving reinvestment decisions. They invest only in U.S. dollar denominated debt issues that have comparatively high credit quality, including U.S. Treasuries, U.S. government agencies, corporate and ABSs.