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They
say hindsight is 20-20. But we believe our future has never been as
clear as it is now. Our vision is to become a world-class consumer
bank that delivers high growth, high financial returns and low risk
to our shareholders. It is a goal that is well within our reach. Why
are we so confident? First of all, we have a successful track record.
For the past 10 years, earnings per share (on an originally stated
operating basis) have had a compounded annual growth rate of 12% while
our common stock has had a compounded annual return of 22%. More important,
all the necessary elements are in place to continue delivering this
kind of earnings growth. Put simply, it is a matter of continuing
to grow revenues faster than expenses. This isnt rocket science,
but it does require an organization and culture that is aligned to
execute this vision. Our organization is. Our systems and products
are world-class. So are our people. They are not only committed to
meeting and exceeding their business objectives, but also to sharing
their best practices (or their best secrets) with their co-workers,
even when they compete head-to-head. This is why the overall performance
of Charter One continues to grow and improve, and why the best is
yet to come. |
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