Item 8.01 Other Events.

The Company filed on November 14, 2008 its Quarterly Report on Form 10-Q for the quarter ended September 30, 2008 (the "Third Quarter Form 10-Q"). The Company had disclosed in a Form 12b-25 filed on November 12, 2008 that it anticipated that it would incur a net loss (before preferred stock dividends) of approximately $0.8 million for the quarter ended September 30, 2008. The Third Quarter Form 10-Q shows that the Company had a net loss (before preferred stock dividends) of approximately $1.8 million for the quarter ended September 30, 2008. The increase of approximately $1.0 million from the anticipated net loss disclosed in the Form 12b-25 when compared to the net loss reported in the Form 10-Q principally resulted from the Company's recognition of an other-than-temporary-impairment of approximately $0.8 million on one security in its P.R. Private Label CMO investments.