CMS Case Study

If excesses over the Bank’s internal limits occur, the Bank shall promptly take action to eliminate any such excess exposure. In general, the Bank shall limit its exposure to an individual correspondent to no more than 25% of the Bank’s total capital unless the Bank determines that the correspondent is at least adequately capitalized (as defined in section 206.5(a) of Federal Reserve Board Regulation F) based on its review of the correspondent’s financial condition. If the Bank determines that a correspondent is not at least adequately capitalized or cannot obtain sufficient information to make this determination, it shall reduce its credit exposure to no more than 25% of total capital within 120 days of the date of the current Report of Condition and Income or other relevant report normally would be available. The specific limits on exposure set forth above shall be further subject to the prudential standards set forth in this Investment Policy.

E. Authorized Brokers/Dealer Banks The Baker Group SouthState Bank (formerly CenterState Bank)

Raymond James Stern Agee/Stifel Bryant Bank Vining Sparks Brean Capital

F. Covered Option Program Only covered call options may be written. A covered call is the sale of a call option, for a premium, of an existing stock or one purchased simultaneously with the sale of the call. No options may be purchased except to eliminate an existing position. A call conveys the right but not the obligation to buy a particular stock held by the institution at a particular price up to a certain date. The following limitations apply: 1. Options may be written only against stock owned. 2. The options must be repurchased before the stock is sold. 3. The desirability of owning the stock takes precedence over the writing of the option. (Specifically, no stock should be bought solely to write the option; the option should represent an income enhancement to a stock purchased on its own merit.) 4. Management must be willing to have the stock called away if an option is written and exercised. Therefore, an option position should be eliminated because market conditions favor its sale or to write a more profitable option. 5. Options may not be written for periods longer than 9 months. 6. Only listed options may be written.

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