I am indebted to Herbert Baer, George Benston, Eli Brewer, Charles Calomiris, Mike Carhill, Robert Eisenbeis, Mark Flannery, Gillian Garcia, Randall Kroszer, Cynthia Latta, Larry Mote, Participants at presentations at Wake Forest University, Floria International University, the University of Wisconsin at Milwaukee, the University of Illinois, Colorado State University, the University of Alabama, the Comptroller of the Currency, and the southern Finance Association, and two anonymous referees for helpluf comments and discussions on early drafts.