Dear PSL members,

Losers at financial sector: (FSNM, PMI, GLCH, PCBC)

First State Bancorp., NM (NASDAQ:  FSNM) dropped by 26.09% to close at $0.17 with overall traded volume of 766,400 shares. FSNM’s total market capitalization stood at $3.54 million. First State Bancorporation (First State) is a New Mexico-based bank holding company, which provides a variety of banking services to businesses, individuals, and local governments through its subsidiary bank, First Community Bank, (the Bank). The Bank serves a diverse group of small to medium size businesses, individuals and local governmental entities, and provides conventional commercial loans to established commercial businesses.

The PMI Group, Inc. (NYSE:  PMI) went down by 14.78% and closed at $3.23 whereas total traded volume stood at $14.91 million shares. Its total market capitalization ended at $519.29 million for the day. The PMI Group, Inc. (TPG) through its subsidiary PMI Mortgage Insurance Co. (MIC), and its affiliated companies (collectively PMI), provides residential mortgage insurance in the United States. During the year ended December 31, 2009, the Company operated in three business segments:   United States Mortgage Insurance Operations, International Operations and Corporate and Other. As a United States residential mortgage insurer, PMI offers a variety of mortgage insurance products to meet the capital and credit risk mitigation needs of its customers.

Gleacher & Company, Inc. (NASDAQ:  GLCH) witnessed the correction of 8.33% to close at $1.98 with traded volume of 957,500 shares. Its price to earnings ratio arrived at 4.30 in the last trading session. Gleacher & Company, Inc., formerly Broadpoint Gleacher Securities Group, Inc. is an investment bank providing advice and services to the companies and institutional investors. It includes advisory services, capital raising, and sales and trading. The Company provides advisory services for the corporations and institutions.

Pacific Capital Bancorp (NASDAQ:  PCBC) reported the fall of 6.73% and closed at $0.97 whereas overall traded volume stood at 3.81 million shares. Its total market capitalization ended at $45.45 million. Pacific Capital Bancorp (PCB) is a community bank holding company providing full service banking, including all aspects of consumer and commercial lending, trust and investment advisory services and other consumer and business banking products through its subsidiaries’ retail branches, commercial and wealth management centers and other distribution channels to consumers and businesses primarily located in the central coast of California.

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