Jim Hughes - Senior Partner

Mr. Hughes has in excess of 30 years in the banking industry with what is now Wachovia/Wells Fargo. His experience encompassed commercial, corporate, and commercial real estate lending.

His assignments included Gastonia Area Credit Administrator and Regional Credit Administrator for the Western Region of North Carolina based in Asheville. He was then promoted to Senior Credit Officer, stationed in Charlotte, for credits west of Charlotte, including Tennessee.

Following a functional reorganization of the wholesale bank, Jim became the State Head of Portfolio Management. His area of responsibility eventually included all of North and South Carolina. Portfolio Management was responsible for maintaining and servicing the existing portfolio of commercial, corporate, and commercial real estate loans.

Also included in Portfolio Management was Special Assets, a department responsible for managing substandard and problem assets. Finally, Jim's division also provided portfolio information to line managers and various reports to the Board.

Professional Highlights:

Site Manager for Charlotte and Western North Carolina Portfolio Management
January 1999 - Sept. 2000

Responsible for maintenance and retention of corporate and commercial loans in assigned territory.

State Head of Portfolio Management, Carolinas Bank-Charlotte

Sept. 1994 - January 1999

Responsible for maintenance and retention of $5.4B commercial, corporate, and commercial real estate portfolio in North and South Carolina.

Senior Credit Officer - Charlotte, NC
August 1988 - Sept. 1994

Approved and negotiated large Commercial and Corporate credits for Western North Carolina and Tennessee.

Professional Experience: Post First Union
August 1988 - Sept. 1994

Served as member of Board of Directors (Chairman of Finance Committee) of a company that included hardwood flooring manufacturing, a building supply division, and machine shop.

Led the restructure of above company's debt ($17 million).

Led the restructure of a hardwood flooring distributor's debt ($1.5 million).