##### Table of Contents



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549
 FORM 10-Q
 þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the Quarterly Period Ended March 31, 2010
 Commission File Number 000-25193
 CAPITAL CROSSING PREFERRED CORPORATION
  Massachusetts  (State or other jurisdiction of incorporation or organization)
 04-3439366  (I.R.S. Employer Identification Number)
 1271 Avenue of the Americas, 46thFloor, New York, New York
 10020  (Zip Code)
 (212) 377-1503  (Registrants telephone number, including area code)
 þ o
 o o
  Large accelerated filer o
    
    Accelerated filer o
    
    Non-accelerated filer þ
(Do not check if a smaller reporting company)
    
    Smaller reporting company o
 o þ




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##### 



Capital Crossing Preferred Corporation
Table of Contents
  
 PagePART I  Financial InformationItem 1. Condensed Financial Statements (Unaudited):Balance Sheets
    
    
    1Statements of Operations
    
    
    2Statements of Changes in Stockholders Equity
    
    
    3Statements of Cash Flows
    
    
    4Notes to  Condensed Financial Statements
    
    
    5Item 2. Managements Discussion and Analysis of Financial Condition and Results
of Operations
    
    
    13Executive Level Overview
    
    
    13Application of Critical Accounting Policies and Estimates
    
    
    15Results of Operations for the Three Months Ended March 31, 2010 and 2009
    
    
    16Changes in Financial Condition
    
    
    17Interest Rate Risk
    
    
    18Significant Concentration of Credit Risk
    
    
    18Liquidity Risk Management
    
    
    18Impact of Inflation and Changing Prices
    
    
    19Item 3. Quantitative and Qualitative Disclosures about Market Risk
    
    
    19Item 4T. Controls and Procedures
    
    
    20PART II Other InformationItem 1. Legal Proceedings
    
    
    21Item 1A. Risk Factors
    
    
    21Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
    
    
    21Item 3. Defaults Upon Senior Securities
    
    
    21Item 4. (Removed and Reserved)
    
    
    21Item 5. Other Information
    
    
    21Item 6. Exhibits
    
    
    22Signatures
    
    
    23Exhibit Index
    
    
    24EX-31.1EX-31.2EX-32




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##### Table of Contents



PART I
 
 Item 1. Condensed Financial Statements
 Capital Crossing Preferred Corporation
 
 Balance Sheets

(Unaudited)
 March 31,
    
    
    December 31,2010
    
    
    2009(In Thousands)ASSETSCash account with parent
    
    $
    184
    
    
    $
    184Interest-bearing deposits with parent
    
    
    53,720
    
    
    
    51,639Total cash and cash equivalents
    
    
    53,904
    
    
    
    51,823Loans held for sale, at fair value
    
    
    20,280
    
    
    
    22,531Loans held for sale, at lower of accreted cost or market value
    
    
    7,881
    
    
    
    7,292Loans, net
    
    
    28,161
    
    
    
    29,823Receivable from affiliates
    
    
    1,731
    
    
    
    Accrued interest receivable
    
    
    298
    
    
    
    393Total assets
    
    $
    84,094
    
    
    $
    82,039LIABILITIES AND STOCKHOLDERS EQUITYAccrued expenses and other liabilities
    
    $
    233
    
    
    $
    344Total liabilities
    
    
    233
    
    
    
    344Stockholders equity:Preferred stock, Series B, 8% cumulative, non-convertible;
$.01 par value; $1,000 liquidation value per share plus
accrued dividends; 1,000 shares authorized, 937 shares
issued and outstanding
    
    
    
    
    
    
    Preferred stock, Series D, 8.50% non-cumulative, exchangeable;
$.01 par value; $25 liquidation value per share; 1,725,000 shares
authorized, 1,500,000 shares issued and outstanding
    
    
    15
    
    
    
    15Common stock, $.01 par value, 100 shares authorized,
issued and outstanding
    
    
    
    
    
    
    Additional paid-in capital
    
    
    95,320
    
    
    
    95,320Accumulated deficit
    
    
    (11,474
    )
    
    
    (13,640
    )Total stockholders equity
    
    
    83,861
    
    
    
    81,695Total liabilities and stockholders equity
    
    $
    84,094
    
    
    $
    82,039
  1




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##### Table of Contents



Capital Crossing Preferred Corporation
 
 Statements of Operations

(Unaudited)
 Three Months EndedMarch 31,2010
    
    
    2009(In Thousands)Interest income:Interest and fees on loans
    
    $
    637
    
    
    $
    829Interest on interest-bearing deposits
    
    
    39
    
    
    
    191Total interest income
    
    
    676
    
    
    
    1,020Gain (loss) on loans held for sale
    
    
    1,764
    
    
    
    (15,181
    )Reduction in allowance for loan losses
    
    
    
    
    
    
    915Net revenue
    
    
    2,440
    
    
    
    (13,246
    )Operating expenses:Loan servicing and advisory services
    
    
    132
    
    
    
    44Other general and administrative
    
    
    142
    
    
    
    286Total operating expenses
    
    
    274
    
    
    
    330Net income (loss)
    
    
    2,166
    
    
    
    (13,576
    )Preferred stock dividends
    
    
    
    
    
    
    816Net income (loss) available to common stockholder
    
    $
    2,166
    
    
    $
    (14,392
    )
  2




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##### Table of Contents



Capital Crossing Preferred Corporation
 
 Statements of Changes in Stockholders Equity

(Unaudited)
 Three Months ended March 31, 2010Preferred Stock
    
    
    Preferred Stock
    
    
    
    
    
    
    
    
    
    
    Additional
    
    
    
    
    
    TotalSeries B
    
    
    Series D
    
    
    Common Stock
    
    
    Paid-in
    
    
    Accumulated
    
    
    StockholdersShares
    
    
    Amount
    
    
    Shares
    
    
    Amount
    
    
    Shares
    
    
    Amount
    
    
    Capital
    
    
    Deficit
    
    
    Equity(In Thousands)Balance at December 31, 2009
    
    
    1
    
    
    $
    
    
    
    
    1,500
    
    
    $
    15
    
    
    
    
    
    
    $
    
    
    
    $
    95,320
    
    
    $
    (13,640
    )
    
    $
    81,695Net income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    2,166
    
    
    
    2,166Cumulative dividends on preferred stock, Series B
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Dividends on preferred stock, Series D
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Balance at March 31, 2010
    
    
    1
    
    
    $
    
    
    
    
    1,500
    
    
    $
    15
    
    
    
    
    
    
    $
    
    
    
    $
    95,320
    
    
    $
    (11,474
    )
    
    $
    83,861
 Three Months ended March 31, 2009Preferred Stock
    
    
    Preferred Stock
    
    
    
    
    
    
    
    
    
    
    Additional
    
    
    
    
    
    
    TotalSeries B
    
    
    Series D
    
    
    Common Stock
    
    
    Paid-in
    
    
    Retained Earnings/
    
    
    StockholdersShares
    
    
    Amount
    
    
    Shares
    
    
    Amount
    
    
    Shares
    
    
    Amount
    
    
    Capital
    
    
    (Accumulated Deficit)
    
    
    Equity(In Thousands)Balance at December 31, 2008
    
    
    1
    
    
    $
    
    
    
    
    1,500
    
    
    $
    15
    
    
    
    
    
    
    $
    
    
    
    $
    95,121
    
    
    $
    
    
    
    $
    95,136Net loss
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (13,576
    )
    
    
    (13,576
    )Cumulative dividends on preferred stock, Series B
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (19
    )
    
    
    (19
    )Dividends on preferred stock, Series D
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (797
    )
    
    
    (797
    )Balance at March 31, 2009
    
    
    1
    
    
    $
    
    
    
    
    1,500
    
    
    $
    15
    
    
    
    
    
    
    $
    
    
    
    $
    95,121
    
    
    $
    (14,392
    )
    
    $
    80,744
  3




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Capital Crossing Preferred Corporation
 
 Statements of Cash Flows  (Unaudited)
 Three Months EndedMarch 31,2010
    
    
    2009(In Thousands)Cash flows
from  operating activities:Net income (loss)
    
    $
    2,166
    
    
    $
    (13,576
    )Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:(Gain) loss on loans held for sale
    
    
    (1,764
    )
    
    
    15,181Increase in receivable from affiliates
    
    
    (1,731
    )
    
    
    Decrease in accrued interest receivable
    
    
    95
    
    
    
    40Provision for loan losses
    
    
    
    
    
    
    (915
    )Increase (decrease) in accrued expenses and other liabilities
    
    
    (111
    )
    
    
    215Increase in other assets
    
    
    
    
    
    
    (23
    )Net cash (used in) provided by operating activities
    
    
    (1,345
    )
    
    
    922Cash flows
from investing activities:Loan repayments
    
    
    3,426
    
    
    
    2,271Cash
provided by  investing activities
    
    
    3,426
    
    
    
    2,271Cash flows
from financing activities:Payment of preferred stock dividends
    
    
    
    
    
    
    (816
    )Cash used in financing activities
    
    
    
    
    
    
    (816
    )Net change in cash and cash equivalents
    
    
    2,081
    
    
    
    2,377Cash and cash equivalents at beginning of period
    
    
    51,823
    
    
    
    43,757Cash and cash equivalents at end of period
    
    $
    53,904
    
    
    $
    46,134
  4




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Capital Crossing Preferred Corporation
 
 Notes to Condensed Financial Statements  Three Months Ended March 31, 2010 and 2009
 NOTE 1. ORGANIZATION
      Business
  Recent Developments
 Asset Exchange.
 5




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##### Table of Contents



NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 Basis of presentation
  Use of estimates
  Cash and Cash Equivalents
  Loans Held for Sale
      6




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Discounts on Acquired Loans
  Allowance for Loan Losses
  Revenue Recognition
  Taxes
   Significant Concentration of Credit Risk
  Recent Accounting Pronouncements
   7




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NOTE 3. BANKRUPTCY OF LBHI AND REGULATORY ACTIONS INVOLVING AURORA BANK
 Bankruptcy of Lehman Brothers Holding Inc.
 Bankruptcy of Lehman Brothers Holdings Inc.
 Regulatory Actions Involving Aurora Bank
 Aurora Bank  Regulatory Actions and Capital Levels.
  Dividend Payments.
 8




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##### Table of Contents



NOTE 4. LOANS
     March 31, 2010
    
    
    December 31, 2009Carrying
    
    
    Unpaid Principal
    
    
    Carrying
    
    
    Unpaid PrincipalValue
    
    
    Balance
    
    
    Value
    
    
    Balance(In Thousands)Mortgage loans, held for sale:Commercial real estate
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    Multi-family residential
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    One-to-four family residential
    
    
    20,280
    
    
    
    28,959
    
    
    
    22,531
    
    
    
    32,007Total loans held for sale, at fair value
    
    
    20,280
    
    
    
    28,959
    
    
    
    22,531
    
    
    
    32,007Mortgage loans, held for sale (1):Commercial real estate
    
    $
    6,916
    
    
    $
    10,862
    
    
    $
    6,380
    
    
    $
    11,324Multi-family residential
    
    
    743
    
    
    
    1,184
    
    
    
    693
    
    
    
    1,203One-to-four family residential
    
    
    222
    
    
    
    369
    
    
    
    219
    
    
    
    379Total loans held for sale,
at lower of accreted cost or market value
    
    
    7,881
    
    
    
    12,415
    
    
    
    7,292
    
    
    
    12,906Total mortgage loans, held for sale:Commercial real estate
    
    $
    6,916
    
    
    $
    10,862
    
    
    $
    6,380
    
    
    $
    11,324Multi-family residential
    
    
    743
    
    
    
    1,184
    
    
    
    693
    
    
    
    1,203One-to-four family residential
    
    
    20,502
    
    
    
    29,328
    
    
    
    22,750
    
    
    
    32,386Total loans held for sale
    
    
    28,161
    
    
    
    41,374
    
    
    
    29,823
    
    
    
    44,913Loans, net
    
    $
    28,161
    
    
    
    
    
    
    $
    29,823
 
 (1)
    
    Though the table compares the carrying value of these loans against UPB, these loans are
carried at the lower of accreted cost or market value and the carrying value cannot exceed
the cost of these loans which for all loans is less than UPB. 9




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##### Table of Contents



March 31, 2010
    
    
    December 31, 2009Carrying
    
    
    Unpaid Principal
    
    
    Carrying
    
    
    Unpaid PrincipalValue
    
    
    Balance
    
    
    Value
    
    
    Balance(In Thousands)Mortgage loans on non-accrual status:Commercial real estate
    
    $
    535
    
    
    $
    733
    
    
    $
    318
    
    
    $
    792Multi-family residential
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    One-to-four family residential
    
    
    42
    
    
    
    92
    
    
    
    
    
    
    
    Total loans on non-accrual status
    
    $
    577
    
    
    $
    825
    
    
    $
    318
    
    
    $
    792
   Three Months Ended March 31,2010
    
    
    2009(In Thousands)Balance at beginning of period
    
    $
    
    
    
    $
    915Reversal of allowance
    
    
    
    
    
    
    (915
    )Balance at end of end of period
    
    $
    
    
    
    $
    
 NOTE 5. RELATED PARTY TRANSACTIONS
    NOTE 6. FAIR VALUE MEASUREMENTS
 Fair Value Measurements
  10




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Balance
    
    
    
    
    
    
    Net
    
    
    
    
    
    
    BalanceDecember 31,
    
    
    
    
    
    
    Transfers
    
    
    Net Gains
    
    
    March 31,2009
    
    
    Payments
    
    
    In / Out
    
    
    (Losses)(1)
    
    
    2010(In Thousands)Loans Held for Sale:Commercial real estate
    
    $
    6,380
    
    
    $
    (349
    )
    
    $
    
    
    
    $
    885
    
    
    $
    6,916Multi-family residential
    
    
    693
    
    
    
    (19
    )
    
    
    
    
    
    
    69
    
    
    
    743One-to-four family
residential
    
    
    22,750
    
    
    
    (3,058
    )
    
    
    
    
    
    
    810
    
    
    
    20,502Total
    
    $
    29,823
    
    
    $
    (3,426
    )
    
    $
    
    
    
    $
    1,764
    
    
    $
    28,161
 
 (1)
    
    Net Gains and Losses is included in Gain (loss) on loans held for sale
on the Statement of Operations. 11




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Fair Value of Financial Instruments
    Cash and cash equivalents:
 Loans:
 Receivable from affiliates:
 Accrued interest receivable:
  March 31, 2010
    
    
    December 31, 2009Fair
    
    
    
    
    
    
    FairCarrying Value
    
    
    Value
    
    
    Carrying Value
    
    
    Value(In Thousands)Cash and cash equivalents
    
    $
    53,904
    
    
    $
    53,904
    
    
    $
    51,823
    
    
    $
    51,823Loans, net
    
    
    28,161
    
    
    
    28,161
    
    
    
    29,823
    
    
    
    29,823Receivable from affiliates
    
    
    1,731
    
    
    
    1,731
    
    
    
    
    
    
    
    Accrued interest receivable
    
    
    298
    
    
    
    298
    
    
    
    393
    
    
    
    393
 NOTE 7. SUBSEQUENT EVENTS
  12




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Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
    
 Executive Level Overview
      13




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
    
    An increase in the gain / loss on loans held for sale of $16.9 million. In the first
quarter of 2010 there was a gain on loans held for sale of $1.8 million as compared to a
loss of $15.2 million in the first quarter of 2009. A loss on loans held for sale was
initially recorded in the first quarter of 2009 as a result of the reclassification of our
loan portfolio to held for sale in connection with the February Asset Exchange Agreement
and recording the loan portfolio at fair value. The gain in the first quarter of 2010 was
the result of an increase in the fair value measurement of the loan portfolio as of March
31, 2010 as compared to December 31, 2009.
    
    A decrease in provision for loan losses on loans held for investment of $915,000. In the
first quarter of 2009 the provision for loan losses decreased by $915,000 to $0 as a result
of the reclassification of the loan portfolio to held for sale.
    
    A decrease of $816,000 in preferred stock dividends.
    
    A decrease in interest income of $344,000 resulting mainly from the discontinuance of
the amortization of purchase discount and fees on loans as a result of the loans being
reclassified as held for sale during the first quarter of 2009 and a
decrease in average loan balances.
    
    A decrease in operating expenses of $56,000 mainly attributable to a
decrease in legal fees incurred in connection with the 2009 February Asset Exchange
Agreement.
 Impact of Economic Recession
   Bankruptcy of LBHI
  Asset Exchange
  14




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Regulatory Actions Involving Aurora Bank
    
 Application of Critical Accounting Policies and Estimates
  15




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Results of Operations for the Three Months Ended March 31, 2010 and 2009
 Interest income
  Three Months Ended March 31,2010
    
    
    2009Average
    
    
    
    
    
    
    
    
    
    
    AverageBalance
    
    
    Interest
    
    
    Yield
    
    
    Balance
    
    
    Interest
    
    
    Yield(In Thousands)
    
    
    
    
    
    
    (In Thousands)Loans, net (1)
    
    $
    43,256
    
    
    $
    637
    
    
    
    5.89
    %
    
    $
    48,847
    
    
    $
    829
    
    
    
    6.88
    %Interest-bearing deposits
    
    
    52,237
    
    
    
    39
    
    
    
    0.30
    
    
    
    44,398
    
    
    
    191
    
    
    
    1.74Total interest-earning assets
    
    $
    95,493
    
    
    $
    676
    
    
    
    2.83
    %
    
    $
    93,245
    
    
    $
    1,020
    
    
    
    4.44
    %
 
 (1)
    
    For purposes of providing a meaningful yield comparison, the foregoing table reflects
the average accreted cost of the loans, net of discounts, or alternatively, the UPB for loans
acquired in the November Asset Exchange, and not the fair value of the loan portfolio.
Non-performing loans are excluded from average balance calculations.     Three Months Ended March 31,2010
    
    
    2009Interest
    
    
    
    
    
    
    InterestIncome
    
    
    Yield
    
    
    Income
    
    
    Yield(In Thousands)Regularly scheduled interest and accretion income
    
    $
    517
    
    
    
    4.78
    %
    
    $
    739
    
    
    
    6.13
    %Interest and fee income recognized on loan pay-offs:Accretable discount
    
    
    112
    
    
    
    1.04
    
    
    
    70
    
    
    
    0.58Other interest and fee income
    
    
    8
    
    
    
    0.07
    
    
    
    20
    
    
    
    0.17120
    
    
    
    1.11
    
    
    
    90
    
    
    
    0.75$
    637
    
    
    
    5.89
    %
    
    $
    829
    
    
    
    6.88
    %
 16




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Reductions in allowance for loan losses
  Operating expenses
   Preferred stock dividends
  
 Changes
in Financial Condition
 Interest-bearing Deposits with Parent
  Loan Portfolio
  March 31, 2010
    
    
    December 31, 2009Carrying
    
    
    Percentage
    
    
    Carrying
    
    
    PercentageValue
    
    
    of Total
    
    
    Value
    
    
    of Total(In Thousands)Mortgage loans:Commercial real estate
    
    $
    6,916
    
    
    
    24.6
    %
    
    $
    6,380
    
    
    
    21.4
    %Multi-family residential
    
    
    743
    
    
    
    2.6
    
    
    
    693
    
    
    
    2.3One-to-four family residential
    
    
    20,502
    
    
    
    72.8
    
    
    
    22,750
    
    
    
    76.3Total
    
    $
    28,161
    
    
    
    100.0
    %
    
    $
    29,823
    
    
    
    100.0
    %
  17




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Interest Rate Risk
  
 Significant Concentration of Credit Risk
    
 Liquidity Risk Management
    18




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Impact of Inflation and Changing Prices
   
 Item 3. Quantitative and Qualitative Disclosures About Market Risk
     March 31, 2010Over One
    
    
    Over Two
    
    
    Over Three
    
    
    Over FourWithin
    
    
    to Two
    
    
    to Three
    
    
    to Four
    
    
    to Five
    
    
    Over FiveOvernight
    
    
    One Year
    
    
    Years
    
    
    Years
    
    
    Years
    
    
    Years
    
    
    Years
    
    
    Total
    
    
    Fair Value(In Thousands)Interest-bearing deposits
    
    $
    53,720
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    53,720
    
    
    $
    53,720.30
    %Fixed-rate loans (1)
    
    
    249
    
    
    
    877
    
    
    
    590
    
    
    
    344
    
    
    
    442
    
    
    
    399
    
    
    
    5,067
    
    
    
    7,968
    
    
    
    6,33014.50
    %
    
    
    6.42
    %
    
    
    4.75
    %
    
    
    4.33
    %
    
    
    5.17
    %
    
    
    5.72
    %
    
    
    4.15
    %Adjustable-rate loans (1)
    
    
    343
    
    
    
    13,032
    
    
    
    16,872
    
    
    
    131
    
    
    
    63
    
    
    
    
    
    
    
    
    
    
    
    30,441
    
    
    
    21,2534.43
    %
    
    
    4.89
    %
    
    
    4.96
    %
    
    
    4.79
    %
    
    
    7.39
    %Total rate-sensitive assets
    
    $
    54,312
    
    
    $
    13,909
    
    
    $
    17,462
    
    
    $
    475
    
    
    $
    505
    
    
    $
    399
    
    
    $
    5,067
    
    
    $
    92,129
    
    
    $
    81,303
 
 (1)
    
    Loans are presented at UPB and exclude non-performing loans.  19




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##### Table of Contents



Item 4T. Controls and Procedures
   20




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##### Table of Contents



PART II
 
 Item 1. Legal Proceedings
  
 Item 1A. Risk Factors
 A number of risk factors, including, without limitation, the risk factor set forth below and
the risk factors found in Item 1A of our Annual Report on Form 10-K for the annual period ended
December 31, 2009, may cause our actual results to differ materially from anticipated future
results, performance or achievements expressed or implied in any forward-looking statements
contained in this Quarterly Report on Form 10-Q or any other report filed by us with the SEC. All
of these factors should be carefully reviewed, and the reader of this Quarterly Report on Form 10-Q
should be aware that there may be other factors that could cause difference in future results,
performance or achievements.
 If the OTS does not approve Aurora Banks request to permit the payment of future dividends, CCPC
will be prohibited from paying dividends in the future and therefore may fail to qualify as a REIT
   
 Item 2. Unregistered Sales of Equity Securities
  
 Item 3. Defaults Upon Senior Securities
  
 Item 4. (Removed and Reserved)
  
 Item 5. Other Information
  21




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##### Table of Contents



Item 6. Exhibits
 31.1
    
    Certification pursuant to Exchange Act Rules 13a-15(e) and 15d-15(e) of the President.31.2
    
    Certification pursuant to Exchange Act Rules 13a-15(e) and 15d-15(e) of the Chief Financial Officer.32
    
    Certification pursuant to 18 U.S.C. Section 1350 of the President and Chief Financial Officer.
 22




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##### Table of Contents



SIGNATURES
  CAPITAL CROSSING PREFERRED CORPORATION
 Date: May 17, 2010
    By:

/s/
Thomas OSullivanThomas OSullivanPresident (Principal Executive Officer)Date: May 17, 2010
    By:

/s/
Robert J. Leist, Jr.Robert J. Leist, Jr.Chief Financial Officer (Principal Financial Officer) 23




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##### Table of Contents



EXHIBIT INDEX
 Exhibit
    
    Item31.1
    
    Certification pursuant to Exchange Act Rules
13a-15(e) and 15d-15(e) of the President.31.2
    
    Certification pursuant to Exchange Act Rules
13a-15(e) and 15d-15(e) of the Chief
Financial Officer.32
    
    Certification pursuant to 18 U.S.C. Section
1350 of the President and Chief Financial
Officer.
 24