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A
Good
morning,
everyone
welcome
we're
glad.
You
joined
us
for
power
hour
today,
what
another
gorgeous
morning
in
the
low
country-
and
it's
just
it's
that
time
of
year,
and
we
know
that
that
time
of
the
year
means
the
countdown
is
on
for
the
RBC
Heritage
presented
by
Boeing.
A
It
starts
next
week
and
we
threw
quite
a
party
this
last
Saturday
night
to
celebrate
it
over
500
people
attended
the
chamber,
ball,
themed
Mad
for
plaid
and
the
paid
tribute
to
just
a
fabulous
fabulous
golf
tournament,
and
you
might
know
that
the
Heritage
Classic
Foundation
has
been
giving
back
to
the
community
for
55
years
now,
55
solid
years
of
giving
back
to
the
community
and
all,
as
we
all
know,
is
much
more
than
just
a
community
event.
It's
certainly
much
more
than
a
tournament.
It's
something
that
affects
not
only
our
us
locally.
A
It
affects
our
entire
State
and
our
region
I
think
it's
probably
safe
to
say
that
there's
no
other
stop
on
the
PGA
tour
with
more
Community
involvement
than
ours,
and
you
know
it's
important
when
schools
literally
close
for
spring
break,
they
plan
their
Spring
Breaks
around
the
tournament.
So
students
and
teachers
can
volunteer
and
be
a
part
of
that
event.
B
Bill
thanks
for
the
introduction
you
took
half
of
my
talking
points,
so
I'll
be
brief.
Well,
it
really
is
an
honor
to
represent
the
PJ
tour
this
morning
when,
when
Steve
asked
me
to
speak,
it
was
it
was
a
no-brainer
and
I
know
that
there's
another
golf
event
happening
this
week
out
somewhere
in
Georgia
I.
Think
but
honestly,
we
can
feel
the
energy
and
the
electricity
here
at
the
PJ
tour
with
RBC
Heritage
week
just
five
days
away.
B
Steve
and
I
talked
about
that
last
week
and
it's
an
amazing
week
every
year,
but
there's
just
something
special
in
the
air
this
year
and
we're
super
excited
to
be
there
and
while
I
haven't
been,
you
mentioned
the
50
plus
years
I
haven't
been
to
all
of
them,
but
I've
been
to
a
significant
amount
and
it
and
it's
safe
to
say
that
we're
in
for
an
epic
week
and
I
think
that
the
county,
the
state
and
really
the
entire
world
will
get
to
see.
What
we
all
know
here
at
the
PGA
Tour.
B
Is
that
your
event
and
your
area
is
special
and
and
More
Than
Just
Words.
It's
the
feeling
you
get
when
you
drive
over
the
causeway
you're
there
and
you
can
feel
how
welcome
you
are
and
I
can
tell
you
that
travel
about
40
weeks
a
year
and
the
way
that
the
community
Embraces
this
event
is
special
I
can
promise
you
that
and
and
Simon
and
Steve,
and
the
entire
team
at
the
Heritage
Classic
Foundation
is
really
As.
B
Good
As,
It
Gets
anywhere
Steve
was
our
Tech
chairman
and
probably
spent
more
time
with
myself
and
my
team
than
he
would
like,
but
we
really
had
an
opportunity
to
get
to
know
Steve
and
Simon
even
more
over
the
last
several
years
and
they
like
I,
said
they're
as
good
as
they
get
our
sponsors
RBC
our
players,
the
fans
and
the
entire
tour
team
looks
forward
to
this
week
and
this
year
is
no
different.
B
I
remember
a
few
short
years
ago,
when
your
event
was
the
second
event
back
after
the
pandemic.
In
our
what
we
called
our
return
to
golf,
we
knew
that
there
was
no
better
place
to
showcase
the
great
sport
of
golf
and
to
show
the
world.
B
Quite
frankly,
what
happens-
and
you
said
it
Bill
earlier
when
professional
golf
is
part
of
the
fabric
of
a
community
and
Hilton
Head
Island-
is
a
perfect
example
of
that
it
always
has
been,
and
so
whether
it
was
starting
our
comeback
to
golf
to
designating
this
event
as
a
special
event
on
the
PJ
tour.
It
was
really
a
no-brainer
from
a
competition
side.
This
year,
it's
off
to
an
amazing
start.
B
We've
had
a
battle
of
some
of
the
best
stars
in
the
game,
winning
multiple
times,
we've
had
new
stars
emerge
and,
as
I
think,
commissioner
Monahan
said
a
couple
months
ago.
This
could
very
well
be
one
of
the
most
consequential
seasons
in
the
history
of
the
PGA
Tour
and
what
a
better
place
to
be.
There
is
no
better
place.
C
B
Than
on
Hilton,
Head,
Island
and-
and
this
group
is
a
major
part
of
that,
as
I
mentioned
earlier,
I
I
just
want
to
close.
If
anyone
has
any
questions
and
just
saying
reiterating
how
grateful
we
are
and
how
welcome
we
feel
in
your
community,
it
is
so
impressive.
We
and
we
are
very
proud
Bill,
like
you,
said,
of
the
great
work
that
gets
done
in
the
community
from
the
funds
that
are
raised
from
the
tournament
and
the
Heritage
Classic
Foundation.
B
We
are
business
colleagues
for
sure,
but
even
more
so,
I
feel
that
that
Steve
Simon
and
the
rest
of
the
team
and
all
those
we're
not
just
business
partners
but
we're
friends
and
colleagues,
and
we
can
feel
it
and
we
hope
that
group
there
feels
the
same,
and
so
I
can't
wait
to
be
there
next
week
and
I
Echo
the
thoughts
of
everyone
here
at
the
PJ
tour
and
look
forward
to
an
amazing
week.
A
Thank
you
John
and,
to
tell
you
how
excited
we
are
I
can
tell
you
that
it's
a
five
days,
two
hours,
eight
minutes
and
one
second
away.
I
we
keep
here
at
the
chamber.
We
keep
the
clock
on
the
countdown
just
to
see
how
how
far
away
it
is
and
before
long
we're
going
to
be
at
four
days.
So
thank
you
for
that.
A
question
for
you
is
about
the
the
tour
players
love
coming
to
Hilton
Head
Island.
What
do
you
hear
from
them
and
what
what
do
they
see?
B
I
think
really
bill
and
the
restroom
it's
it's
something
that
it's
hard
for
them
to
put
into
words.
It's
just
I
mean
and
it's
overused,
where
it's
the
whole
vibe
and
the
whole
feeling
they
get
when
they
come
on
the
island.
B
There's
a
sense
of
you
know
this
is
this:
is
their
job
and
there's
a
lot
of
pressure
each
and
every
week,
but
I
think
as
soon
as
they
hit
that
bridge
and
they
come
over
onto
the
island,
they
their
shoulders
sort
of
drop,
they
get
settled,
they
know
they
don't
have
to
worry
about
anything
because
of
the
way
Steve
and
Simon
take
care
of
them
and
their
families.
They
know
it's
a
spot
where
they
can
relax,
but
also,
at
the
same
time,
have
one
of
the
best
golf
courses
on
the
PJ
tour.
B
They
really,
they
really
feel
welcome.
They
don't
have
to
sit
in
a
ton
of
traffic
in
a
big
city
and
they
just
feel
it's
a
perfect
combination
of
competition,
family
and,
at
the
same
time,
doing
their
job.
So
it's
hard
to
really
put
into
words
other
than
that
feeling
they
get
of
just
really
feeling
welcome.
A
You
had
you
had
mentioned
that
Steve
was
the
head
of
I
believe
it
was
tack.
Maybe
last
year
tell
tell
our
listeners
what
that
means
and
what
his
involvement
in
that
was.
B
Well,
I'd
be
interested
to
hear
what
Steve
thinks
that
means,
because
it
was
quite
an
adventure.
The
attack
is
an
acronym
for
our
tournament
advisory
committee
and
it
is
made
up
of
10
tournament
directors
of
our
45
plus
events,
and
they
vote
on
a
tax
chairman
who
they
feel
is
the
right
person
to
represent
them
and
the
interests
of
all
the
events.
A
John
I
think
that's
I,
think
that's
a
great
point
and
I
think
that's
also
a
good
time
for
us
to
transition
into
Steve
who's
going
to
be
speaking
next,
we
look
forward
to
seeing
and
welcome
you
welcoming
you,
the
the
entire
team
and
as
well
as
those
tour
players
and
caddies
and
everyone
else
to
Hilton
Head
Island
in
just
a
few
short
days.
Fantastic.
A
Well,
as
John
was
talking
about
Steve,
he
really
needs
no
introduction,
and
you
know
he's
been
the
tournament
director
for
the
RBC
Heritage
for
the
last
37
years.
Steve,
that's
37
years,
I
said,
and
the
relationships
that
you
have
with
not
only
the
the
local
business
Community
but
around
the
state
and
with
the
PGA
Tour,
are
really
instrumental
in
making
this
tournament
the
success
that
it
is
so
welcome.
We're
glad
to
see
you.
A
D
Thanks
Bill
and
I
think
everyone
saw
saw
me
the
other
night,
so
I'm
I'm
in
the
dark
a
little
bit
here,
and
hopefully
you
can
there's
a
bit
of
an
echo
in
the
background
too,
as
I'm
in
a
trailer
down
on
site
right
now
getting
ready
for
next
week,
but
John,
first
and
foremost,
John
Norris
I
appreciate
his
comments
and
the
support
of
the
PGA
Tour
and,
as
he
said
in
some
of
the
questions
that
you
asked
bill
in
the
words
of
Tom
Brady.
D
Let's
go
it's
truly
an
exciting
time
and
for
this
community
and
again
a
celebration.
The
other
night
was
in
celebrating
55
years
of
the
of
the
heritage,
in
this
case
the
RBC
Heritage.
But
it's
it's
a
it's
truly
a
celebration
of
the
community.
D
This
is
this
is
our
event
where
something
to
be
very
proud
of,
and
we
heard
from
John
Anderson
the
PGA
tour
with
regards
to
what
it
means
to
the
PGA
Tour,
what
it,
what
it
does
mean
to
the
networks,
what
it
means
it
means
to
the
partners
they
want
to
be
here
and
they
want
to
be
here
not
just
just
to
play
golf
on
one
of
the
Premier
golf
courses
in
the
world,
but
to
be
in
a
community
that
is,
is
second
to
none
around
the
country
and
the
think
about
this
event.
D
There's
so
many
things
and
I
I'm
going
to
sit
here
and
say
a
lot
of
thanks,
but
it's
it's
so
true.
So
many
things
have
to
happen
before
these
players,
these
Spectators,
these
caddies,
the
CBS
before
they
even
get
here
on
site.
You
know:
they've
gotta
go
through
air,
which
I
look
at
from
certainly
Beaufort
County,
but
then
Bluffton
I
mean
that's
our
driveway
in
the
into
Hilton
Head
Island
Hilton,
Head
Island
is
is
our
our
front
yard
and
then
you
get
to
Sea
Pines.
D
And
then
you
come
to
the
front
gate
and
you
get
into
our
home
here
down
on
site,
but
but
it
has
to
be.
You
know
the
from
traffic,
it's
parking,
it's
it's
going
to
a
wonderful
Resorts
and
the
going
to
the
grocery
stores
and
shopping
and
going
to
the
Villas
and
there's
so
many
things
that
happen
before
these
players
and
all
these
Spectators
get
here
down
on
site,
so
we're
all
in
this
together.
D
This
is
an
incredible
opportunity,
be
for
us,
as
it
is
every
year,
but
this
year
being
designated
that
we
are
we're
we
all
as
a
community,
certainly
from
the
staff
working
with
the
resort
working
with
Sea
Pines
working
with
the
town
of
Hilton
Head
Island,
we're
not
patting
ourselves
in
the
back.
It's
one
of
those
things
we
want
to
celebrate,
but
we
we
want
to
put
our
best
best
foot
forward.
We
want
to
step
up
our
a
game.
D
We
want
to
make
sure
that
we're
the
best
best
in
practice
and
and
I
know
that
I
I
sense
that
working
with
Mark
Orlando
in
the
town's
been
unbelievable,
Thank
you
Lisa
as
well
in
Bluffton
in
getting
to
this
point,
but
you
Bill
and
the
the
chamber,
our
hotel
years,
the
rental
companies
the
Caterers
to
be
down
on
site
right
now
to
see
surge,
setting
up
to
see.
D
The
Greenery
out
there
to
see
Hilton,
Head,
Regional,
Health,
Care
mobile
unit
here
to
have
Palmetto
electric
running
around
and
with
har
gray
and
I
can
go
on
and
on
and
on
and
I
had
a
you
know,
a
couple
things
that
are
happening.
I
asked
the
Ops
Team
this
morning
about
some,
maybe
little
fun
facts
and
unbeknownst
a
lot
of
people
out
there,
but
we
have
over
110
TVs.
We
have
four
video
boards.
We
have
four
two
miles
of
coax
cable.
We
had
18
bathrooms
1040
Johnny's.
D
We
have
over
a
thousand
signs,
240
golf
carts,
168,
BMWs,
25
rental
vehicles.
We
have
600
600,
ropes
and
steak
stakes
and
all
there's
so
much
that
it
goes
on.
But
it's
a
team
effort.
It's
it's
working
with
the
community.
It's
working
with
all
these
partners
and
everybody's
it,
the
exact
the
excitement,
the
energy,
as
you
can
tell
here.
I
I'm
truly
excited
about
it.
But
again
we
have
an
also
another
opportunity.
D
We
have
the
strongest
field,
we'll
ever
have
we're
we're
rivaling
a
major
feel
field
for
sure,
but
we're
also
having
a
lot
largest
field.
We've
ever
had
because
of
some,
not
technicalities,
but
due
to
the
fact
that
their
designated
levels,
so
we've
got
20
more
players
that
we've
ever
had,
but
that's
20,
more
players
that
have
never
been
here.
That's
20,
more
caddies
that
have
never
been
here.
That's
20,
more
families
than
ever
been
here
now.
D
That's
20,
more
courtesy,
cars
and
40,
more
parking
places,
and
some
other
things
too-
that
create
some
challenges
a
little
bit,
but
we're
up
for
that
challenge,
and
but
we
also
have
more
Spectators
and
not
necessarily
more
Specter,
we're
going
to
have
new
Spectators
that
have
been
here
that
haven't
been
here
before
we
have
sponsors
that
haven't
been
here
before
and
the
thing
that
we
want.
We
want
them
all
coming
back.
D
We
want
them
to
know
that
they're
being
a
designated
event
and
being
here
on
Hilton,
Head,
Island
and
being
here
in
this
community,
is
something
that
they're
gonna
they're
gonna
look
at
each
other,
whether
it's
a
player,
whether
it's
a
caddy,
whether
it's
a
family,
whether
it's
a
spectator
or
new,
volunteer
they're,
going
to
go
I
want
to
be
a
part
of
this.
I
want
to
continue
to
be
a
part
of
this,
and
so
that
that's
where
we
are
now
we're
fine
we're
trying
to
execute
the
plan
right
now.
D
We're
in
that
process
and
I
did
talk
to
Angela
McSwain
to
see
about
maybe
doing
this
video
out
on
course,
when
we
were
sensitive
to
maybe
a
little
Wi-Fi
matters
and
some
things,
but
but
no
thank
you.
Thank
you
for
everybody
in
the
support,
I
I'm,
so
fortunate
to
work
with
so
many.
So
many
wonderful
people-
and
you
know,
as
I've
mentioned
before,
I-
don't
I,
don't
have
to
do
what
I
do
I
get
to
do.
What
I
do
because
I
get
to
do
with
each
and
every
one
of
you?
D
A
Steve,
thank
you
so
much
for
that,
and
you
had
mentioned
first
of
all,
love
the
fun
facts,
love
that
and
then
we
have
a.
We
have
a
question
from
Marty
and
Marty
is
asking:
when
does
it?
Actually,
when
do
you
actually
start
setting
up
on
site
for
this?
For
this
tournament,.
D
Well,
it's
it's
interesting
because
you
know:
there's
certainly
a
lot
of
people
in
this
community,
unfortunately,
or
for
whatever
reason,
don't
get
down
to
Sea
Pines,
as
often
or
throughout
the
course
of
the
year,
but
we
really
get
start
building
for
early
February,
it's
a
a
little
earlier
than
this
year
than
in
the
past.
We
do
have
a
new
you'll
see
we
have
a
new
structure
on
the
18
green,
it's
a
double
double
deck
structure,
two
of
them
that
we're
using
a
third
party
to
do
that.
D
So
there's
a
couple
separate,
builds
that
are
happening
out
there.
But
it's
a
it's!
It's
a
good
couple
month
process
and
it's
amazing.
You
know
how
hard
it,
how
long
it
takes
to
get
up,
but
it
comes
down
pretty
fast
too
in
a
matter
of
a
couple
weeks,
but
you
know
we
appreciate
the
the
support
that
we
have
from
this
community.
D
But
it's
it's
wonderful
to
be
able
to
work
together
with
with
everybody
to
be
able
to
pull
this
off,
and
you
know
we
do
run
into
curveballs
whether
it's
gets
into
power
or
Communications,
but
common
electric
is
there
and
hargray's
there
to
support
and
help
us
and
you
know,
but
it's
it's
99.9
of
the
time.
It's
yes
is
the
answer.
What's
the
question
and
I
feel
very
fortunate
to
be
a
part
of
that.
A
Thanks
Steve,
we
know
you're
in
100
tournament
mode
shift,
just
a
minute
on
your
thinking
to
the
foundation
mode
and
Karen
Karen
is
asking:
how
does
a
charity
be
considered
for
a
grant
from
the
foundation.
D
Wow,
it's
it's!
It's
a
matter
of
registering
I
mean
I
I.
Would
who
whomever's
asking
this
question,
or
anybody
out
there
is
to
contact
Alexis,
Romero
Grove
in
her
on
our
staff,
who
oversees
our
foundation
initiatives
and
to
get
registered
as
as
it
as
a
charity.
We
have
close
to
100
Partners
right
now
and,
and
that
is
somewhat
unique
on
the
PGA
tour
too.
D
A
lot
of
PGA
Tour
events
wrap
their
arms
around
a
cause
which
are
all
wonderful
causes,
whatever
they
might
be,
but
we
we
help
support
many
different
causes,
which
makes
it
somewhat
unique,
but
it's
also
a
wonderful
way
to
really
get
the
community
involved.
I.
D
Thing
is
from
a
you
know,
to
talk
about
community
and
you
talk
about
you
know
so,
working
with
groups.
You
know
it's
just
like
when
we
went
with
our
catering
company
working
with
Serge
to
handle
our
concession
still
working
with
the
Civic
groups,
but
there
was
a
lot
of
company
these
that
we
had
interviewed
outside
of
this
area.
But
we
Serge
was
the
right
partner.
D
They
were
there
right
here
and
in
this
community
and
that's
what
we're
about
we're
about
community
and
yes,
they're
running
our
concessions
in
a
an
incredible
professional
way,
but
still
working
with
the
our
Civic
organizations
from
the
front
of
the
house
and
all
too.
But
you
know
it's
it's
a
it's
a
very
unique
and
special
event
on
the
PGA
tour
without
question.
A
D
I
mean
a
great
question
and,
and
those
things
are
continue
to
be
just
to
to
be
discussed,
I
mean
it's
one
of
the
things
that
I
I
kind
of
mentioned
in
a
way
too,
that
not
that
this
is
an
interview
that's
coming
up
here
next
week,
but
it
is
a
part
of
the
process
and
the
fact
that
these
guys
want
to
be
here.
The
players
want
to
be
here.
D
The
the
tour
wants
to
be
here
and
I
for
me
not
to
thank
RBC
and
Boeing
and,
in
addition
to
the
state
of
South
Carolina
is
a
big
player
as
well,
and
they
want
to
be
here,
but
this
continues
to
be
somewhat
not
necessarily
work
in
progress.
We've
got
a
lot
of
discussions,
a
lot
of
great
discussions
moving
forward
and
we
should
know
we
should
know
six
to
eight
weeks,
if
not
sooner,
where
we'll
how
this
will
play
out
in
24.
D
But
all
indications
things
are,
you
know
working
thanks
to
the
support
of
everybody
here
and
obviously
our
relationship
with
the
PGA
Tour
is
is
quite
incredible
as
well
too,
and
that
all
factors
into
this
but
I
guess
in
a
roundabout
answer
night.
We
don't
know
yet,
but
we
should.
We
should
know
soon.
A
Steve
last
question
is
coming
from
David
and
David's,
asking
how
have
people
adapted
to
the
digital
tickets.
D
I,
it's
been
great,
you
know.
Last
year
was
our
first
year.
90
of
what
happened
was
good.
We
did
learn
a
lot
of
things
differently,
but
they
have
it's
a
it's
a
way
of
life.
Now
we
can't
travel
without
digital
tickets.
We
can't
go
to
concerts
or
even
high
school
ball
games
now
without
digital
tickets,
and
we
do
have
a
unique
venue,
that's
where
the
challenge
comes
in
and
in
the
fact
that
we
don't
have
an
a
main
entrance
or
entrances,
but
but
we've
we've
adapted.
D
We've
done
some
things
differently
this
year
that
we
learned
from
last
year
and
we've
got
more
scanning
locations.
We
did
hire
a
third
party
that
is
working
with
Hargray,
we're
with
regards
to
Wi-Fi
throughout
the
golf
course
so
in
support
of
of
our
mobile
tickets.
But
no
it's
been,
it's
been
extremely
well
received
and
it's
it's
certainly
the
direction
we're
going
to
continue
to
go
and
continue
to
get
better
as
we
all
do
again.
D
A
Steve,
we'll
we'll
say
thank
you
before
the
vet
and
then
I
know
we'll
be
thanking
you
and
the
entire
team
after
the
event,
because
it's
going
to
be
tremendous,
we
really
look
forward
to
a
great
time
and
seeing
some
wonderful,
wonderful
golf
here
on
Hilton,
Head,
Island
and
knowing
how
busy
you
are
I'm,
going
to
remind
you
five
days,
one
hour
and
52
minutes,
so
we're
gonna,
we're
gonna.
Let
you
run
unless
you
have
anything
else
to
say
and
get
back
to
back
to
work.
No.
D
You
can
probably
hear
in
the
background
we've
got
blowers
going.
We've
got
some
delivery
trucks
and
but
no
it's
it's
it.
It
is.
You
could
tell
I'm
energized
it's
it's
adrenaline
I'm,
I'm,
I'm,
I'm
I'm
blessed,
but
everyone
the
excitement,
the
energy
we're
going
to
have
an
incredible
week
next
week
and
thanks
everybody
for
their
support
and
enjoy.
A
Steve
great
great
to
have
you
thanks
for
giving
us
time
today
and
we'll
see
you
real
real
soon.
A
All
right,
Steve
Wilmot
talking
all
things
RBC
Heritage
presented
by
Boeing,
always
a
delight
to
have
Steve
with
us
we're
going
to
transition.
Now
to
another
topic.
That's
been
in
the
news.
We
certainly
know
that
banking's
in
the
news
daily
now
really
due
to
the
collapse
of
the
svb
in
California
and
others
is,
is
banking
in
a
crisis.
I
guess
we'd
be
asking
is:
does
the
FED
expect
more
Banks
to
fail,
and
should
we
be
worried
about
that?
A
They're
all
great
questions,
I
think
for
our
next
guest
and
our
next
guest
also
is
not
a
stranger
Fred
Green
president
and
CEO
of
the
South
Carolina
Bankers
Association
he's
been
at
the
helm
there,
not
quite
as
long
as
Wilmot
has
been,
but
since
2012
following
a
stellar
33-year
career
banking
in
South,
Carolina
he's
also
served
on
the
Drac
as
the
Director
of
the
Federal
Reserve
Bank
and
and
also
is
on
its
Federal
advisory
Council
for
the
fifth
and
sixth
district
Banks,
you
might
remember,
Fred
was
with
us
quite
often
during
our
power
hour,
calls
during
covet
helping
their
smaller
businesses
really
Shepherd
their
way
through
what
needed
to
be
done
to
help
them
Fred
welcome.
A
We
thank
you
for
being
with
us
today
and
look
forward
to
hearing
your
update.
E
B
E
Thank
you,
Bill.
First
off,
it's
great
seeing
you
wish
I
could
see
you
in
person,
instead
of
being
in
my
office
in
Columbia
on
beautiful
Hilton,
Head
Island,
you
said
a
couple
of
bank
failures
and
a
crisis
I'm
happy
to
report.
There
is
no
crisis
and
everything
is
pretty
much
back
to
normal
and
it's
it's
kind
of
hard
to
believe
that
all
of
this
happened
really
within
the
last
three
weeks.
E
I'll
quickly
go
through
some
of
the
background
timeline
and
kind
of
where
we
are
now
so
Silicon
Valley
Bank
out
of
California
failed
on
March
10th.
It's
the
largest
bank
failure
since
Lehman
Brothers
failed
in
2008
Silicon
Valley,
as
the
16th
was
the
16th
largest
bank
in
the
U.S,
with
a
little
over
210
billion
in
assets
and
175
billion
in
deposits,
critical
I
guess
a
critical
data
point
is
97
percent
of
those
deposits
were
uninsured
and
svb
had
the
highest
percentage
of
uninsured
deposits.
E
Out
of
all
the
large
banks
in
the
U.S,
so
quick
timeline
on
Wednesday
March,
8th
two
and
a
half
three
billion
dollar
Bank
in
California,
called
silvergate
announced
they
were
liquidating
and
that
didn't
really
hit
the
news.
But
that
started
the
issue.
Silvergate
was
a
anomaly
as
well
as
the
other
two
I'll
mention.
They
were
a
bank,
as
I
said,
with
about
two
and
a
half
billion
in
deposits,
but
they
did
not
have
a
single
loan
all
of
their
deposits.
They
were
employed
to
buy
long-term
bonds.
Interest
rates
reversed.
E
They
were
underwater,
they
liquidated
without
calling
in
the
FDIC
that
was
on
Wednesday
March,
8th
Thursday,
March,
9th
42
billion
left
svb
overnight
within
24
hours,
I
mentioned
their
size
and
their
but
42
billion
out
of
160
billion
in
deposits
left
in
less
than
24
hours,
mostly
through
a
key
stroke
on
a
telephone
when
that
left
that
left
a
negative
cash
balance
in
that
bank
of
a
billion
dollars.
E
Friday
March
10th
FDIC
took
over
the
bank
Sunday
March
13th,
another
bank
Signature
Bank
out
of
New
York,
also
failed.
The
FDIC
came
in
Signature
Bank
was
a
crypto
bank
had
huge
concentrations
in
crypto,
so
the
FED
announced
on
Sunday
night,
both
bank
failures
and
that
they
were
making
all
depositors
of
both
Banks,
whether
they
were
secured
or
unsecured
whole,
and
they
opened
up
a
liquidity,
borrowing
mechanism
for
all
other
banks
in
the
country
to
create
the
the
stability
or
to
offset.
Maybe
a
panic
is
what
it
was
on.
E
Monday
the
14th.
The
news
media
went
hysterical.
That
was
a
topic
on
every
channel.
There
was
concerns
about
contagion,
whether
it
would
impact
every
single
Bank
whether
people
would
lose.
You
know
their
life
savings,
President,
Biden
came
on
TV
said
the
banking
system
is
safe
and
sound.
Monday
I
got
all
of
our
Bankers
in
South
Carolina
the
leadership
in
our
banks
in
South
Carolina,
on
the
call
to
talk
about
it
and
for
me
to
get
I
guess
my
finger
on
the
pulse
is
what
they
were
seeing.
E
There
was
no
outflow
of
deposits
among
our
banks
in
South,
Carolina
Beyond
a
normal
day
that
made
me
feel
good.
But
later
in
that
day
you
know
another
role:
I've
got
on
a
national
level.
I
had
an
opportunity
to
ask
my
counterparts
from
the
other
49
states
what
they
were
seeing
out
of
the
out
of
the
total
of
50
states.
Only
two
states
were
concerned
about
outflows
of
deposits
within
their
state
and
no
surprise
that
was
California
and
New
York
by
Friday.
E
We
circled
back
around
even
California
New
York
we're
comfortable
with
the
stability
of
deposits
in
their
Bank.
So
you
know
what
created
it.
All
banks
avoid
concentration,
because
concentration
creates
risk,
and
most
banks
have
a
business
model.
That's
based
on
a
large
number
of
relatively
small
accounts,
both
of
those
Banks
Silicon,
Valley
and
signature
were
the
exact
opposite.
Their
business
model
was
a
a
small
number
of
very,
very
large
accounts
so
and
and
and
signature.
E
Excuse
me
in
Silicon
Valley
that
was
probably
even
more
pronounced
because
it
Not
only
was
it
a
small
number
of
large
accounts.
They
were
all
large
accounts
held
by
Venture
Capital
groups
and
the
tech
companies
that
they
helped
getting
started.
Getting.
They
helped
get
started.
So
really
what
happened
there?
There
was
one
of
the
guys
on
the
VC
side
that
got
concerned.
He
pulled
his
money
out.
He
told
all
of
his
companies
that
he
had
invested
in
to
pull
their
money
out.
E
They
all
talked
to
somebody
else
and,
as
I
said
earlier,
in
really
less
than
24
hours,
42
billion
at
the
stroke
of
a
key
on
a
telephone
left
that
bank
left
them
broke,
they
failed.
So
where
are
we
now
just
three
weeks
later
stability
in
the
banking
system,
as
would
be
expected,
there
will
be,
and
there
have
been
a
number
of
Congressional
hearings.
Senate
hearings
try
to
figure
out
what
happened
and
what
could
be
implemented.
That
would
keep
something
like
this
happening
happen
again.
E
What
does
this
all
mean
to
you
and
the
folks
on
the
call
in
terms
of
your
account
again,
those
two
Banks
or
three
Banks,
including
the
first
one,
were
anomalies,
there's
no
other
business
model
in
the
country
like
that.
The
concentration
of
deposits
within
South,
Carolina,
Banks
or
those
Banks
doing
business
in
South,
Carolina,
uninsured
deposits,
very,
very
smooth,
small
relative
to
that
97
percent
in
Silicon,
Valley
and
I.
E
Guess
the
The
Benchmark
that
I
look
at
is
just
the
media
coverage
again
early
on
that
was
on
every
channel
and
it
created
a
good
bit
of
Hysteria.
Today,
there's
nothing
in
the
news
and
they're
moved
on
now
to
the
to
the
Trump
indictment.
E
So
so
that's
bill
just
kind
of
where
we
are
in
a
nutshell
both
in
what
happened
over
the
last
three
weeks
why
it
was
extremely
unusual
anomalies
if,
if
we
could
use
that
expression
and
and
kind
of
where
we
are
today,
the
banks
and
the
country
and
in
South
Carolina
are
very,
very
well
capitalized.
They
all
are
performing
well
in
terms
of
earnings.
They
don't
have
any
any
credit
issues
which
normally
creates
a
bank
failure
and
again
very
little
to
no
concentration
of
either
loans
or
deposits.
A
Fred,
thank
you.
So
much
certainly
reassuring
comments.
We're
glad
to
have
you
with
us
you've
answered
one
of
the
questions
which
was
about
the
media,
the
the
crisis,
the
coverage
that
it
receives.
So
we'll
move
on
to
our
next
question,
which
is
from
Debbie
and
Debbie,
is
asking:
what
are
you
seeing
happening
in
banking
with
fluctuating
interest
rates
and
how
that
is
impacting
the
business
creation
and
real
estate
transactions.
E
Well,
the
FED
has
increased
rates
just
one
meeting
after
another
and
it's
it's
been
the
highest
and
quickest
interest
rate
move
in
history.
There's
some
thought
that
there
might
be
at
one
more
fed
increase,
maybe
a
quarter
percent
than
a
pause
and
then
within
some
period
of
time,
some
reduction,
so
mortgage
rates
peaked
out
a
while
ago,
they're
starting
to
come
down.
Mortgage
rates
are
really
based
on
the
long-term
interest
rates.
Long-Term
interest
rates
are
actually
lower
than
short
term
interest
rates
right
now,
as
an
inverted
yield
curve.
E
A
E
Well,
typically,
when
there
is
an
acquisition
of
public
companies,
the
acquirer
stock
goes
down
and
the
acquired
Company's
stock
goes
up
the
day
of
the
announcement.
The
day
of
that
announcement,
First
Citizen
stock
price
went
up
about
50
percent,
so
obviously
the
investment
Community
thought
they
got
a
very,
very
sweet
deal.
Some
of
the
questions
was:
how
can
a
bank
in
North
Carolina
a
100
billion
dollar
Bank
buy?
You
know
a
bank
like
svb
in
California?
E
Well,
I'll
I
will
let
everyone
know
that
during
the
financial
crisis
and
the
FDIC
was
auctioning
off
Banks
First
Citizens
out
of
North
Carolina
acquired
more
Banks
through
FDIC
assistant
than
all,
but
one
other
Bank
in
the
country.
So
they
know
what
they're
doing
they
know
how
to
look
and
scrub
a
portfolio
to
jettison
the
the
bad
loans
and
end
up
with
with
quality
loans
that
create
earnings
going
forward
and
again,
I
think
that's
what
you
saw
in
their
stock
price
in
terms
of
their
market
share.
E
Prior
to
this
acquisition,
North
Carolina
was
their
biggest
Market.
South
Carolina
was
their
second
biggest
Market
in
California
was
their
third
biggest
Market.
They
had
bought
CIT
a
little
over
a
year
ago,
post
this
transaction
South
Carolina
in
terms
of
their
concentration
or
their
their
bigger
markets,
is
number
three
California
is
number
one.
I
suspect
they
will
continue
their
lending
and
banking
philosophy
in
California
and
through
the
remnants
of
of
Silicon
Valley,
just
like
they
have
throughout
their
franchise.
So
again,
I
think
it
was
a
great
move
for
First
Citizens
I.
E
Don't
think
it
will
impact
anyone's
relationship
with
them
in
South
Carolina,
except
maybe
improve
it
because
they
might
be
able
to
pick
up.
You
know
some
increased
technology
through
the
new
size.
They
have.
A
E
A
Right,
thank
you
that
was
Fred
Green
and
we
always
appreciate
Fred
being
with
us
as
well.
Our
next
speaker
is
interested
in
law
enforcement,
Came
Calling
on
9
11,
and
he
was
working
for
Nextel
at
that
time.
Nextel
Communications
and
at
that
point
in
time
he
volunteered
to
set
up
a
portable
cell
site
at
Ground
Zero
in
New
York.
He
he
watched
police
and
fire
crews
in
action
knew
it's
what
he
wanted
to
do
with
the
rest
of
his
life.
C
Well,
thank
you.
Bill
I,
appreciate
being
invited
out
here,
I
wanna,
first
off.
Thank
you
and
your
staff.
You
guys
are
tremendous
and
thank
you
for
inviting
me
to
speak
regarding
our
Police
Department
here
in
Bluffton
I've,
been
here
for
three
months
as
your
police
chief
three
months
three
days
and
three
hours
but
I'm,
not
counting.
C
It's
been
a
tremendous
three
months.
We
have
been
very
busy
getting
started,
establishing
a
different
culture
here,
but
always
a
culture
focused
on
our
community
and
serving
our
community.
C
It's
important
to
me
when
I
first
came
in
here
was
to
sit
down
with
all
of
our
officers
and
all
of
our
staff
here
at
the
police
department
and
have
one-on-ones
with
each
one
of
them.
I
think
that
it's
important
to
focus
on
allowing
everybody
to
have
a
voice
in
the
direction
that
we
had
as
a
department.
C
Recently
we
have
started
a
steering
committee
for
our
strategic
plan
and
I
had
15
of
my
internal
staff
volunteer
to
be
part
of
the
Strategic
plan,
and
it's
very
exciting,
because
having
that
many
people
involved
tells
me
that
all
these
officers
they
want
to
be
a
part
of
the
future.
They
want
to
have
a
say
in
the
direction
of
our
department
as
we
move
forward
and
they've
done
a
tremendous
job.
So
far,
we've
also
have
volunteers
from
the
community
who
are
also
participating
in
our
strategic
plan.
C
That
involves
our
law
enforcement
advisory
committee
as
well,
as
we
recently
put
out
a
survey
to
our
community.
That
I
would
encourage
people
to
please
take
and
let
us
know
how
we're
currently
doing
and
what
they
would
like
to
see
different
as
we
move
forward.
In
order
to
access
that
survey,
they
can
go
to
the
Bluffton
Police
Department
Facebook
page,
and
there
is
a
link
on
there
for
them
to
take
that
survey.
C
If,
for
some
reason,
they
do
not
have
social
media,
they
can
come
and
we
do
have
hard
copies
at
the
front
desk
in
the
lobby
of
the
Bluffton
Police
Department,
where
they
can
take
a
hard
copy
of
the
survey,
and
we
will
collect
them
in
about
two
weeks
to
take
a
look
at
the
results
from
that.
That
will
also
determine
some
of
our
objectives
and
goals
for
our
strategic
plan.
C
Moving
forward,
I
would
like
to
share
our
mission,
vision
and
core
values
that
our
officers
came
up
with
and
there's
a
keyword
in
each
one
of
these
statements,
as
as
we
talk
about
them,
and
that
is
about
serving
and
community
policing.
C
C
Our
vision
is
where
we
want
to
go
where
we
see
ourselves
in
the
future,
and
that
is
that
we
will
strive
to
be
Innovative,
Progressive
and
transparent.
We
are
committing
to
serving
our
team
and
the
community
with
Integrity
courage
and
professionalism
and
finally,
our
core
values.
These
are
the
values
that
we
look
for
when
we
go
to
hire
new
people
and
new
individuals,
and
these
are
what
we
expect
of
our
officers
as
they
Patrol
our
streets
each
and
every
day,
and
the
key
word
to
this
is
Shield.
C
It's
something
that
our
officers
came
up
with,
and
each
letter
stands
for.
Something
different
Shield
is
serving
with
compassion.
Is
s
h
is
honor,
I
is
integrity.
E
is
excellent
in
policing,
Ella's
leadership
and
D
is
dedication
to
community
I,
also
like
to
talk
about
our
community,
our
reach
programs
that
we've
developed
I'm,
a
big
believer
and
everything
we
can
do
in
the
community.
You
know
when
you
think
about
law
enforcement.
You
always
think
about
two
words
protect
and
serve.
C
We
do
a
great
job
protect
protecting,
but
what
we
do,
the
majority
of
the
time
is
serve
and
that's
the
type
of
culture
that
we
want
to
put
throughout
our
community
as
well
as
our
organization
is
it's
about
serving
our
people,
it's
about
serving
our
community,
and
we
do
that
through
our
community
outreach
programs.
C
One
such
program
is
what
we
call
behind
the
badge
program:
it's
an
opportunity
for
us
to
get
out
there,
not
just
as
Law
Enforcement
Officers,
but
as
people
for
our
young
children
or
our
even
our
adults,
to
see
us
behind
the
badge,
the
CSS
human
beings.
This
past
two
weekends
ago,
we
teamed
up
with
the
Boys
and
Girls
Club
of
Bluffton
and
we
participated
participated
in
the
basketball
tournament,
which
was
a
lot
of
fun.
C
It
took
me
about
a
week
to
recover,
but
that
just
goes
with
old
age
for
me,
I
guess,
but
we
had
a
great
time
our
officers,
we
formed
the
team
and
we
played
against
a
team
of
All-Stars
of
middle
school
kids
and
it
was
a
close
game.
We
did
come
out
Victorious
at
the
end,
but
it
was
a
great
time
for
us
just
to
interact
with
these
kids
and
for
them
to
see
us
in
a
different
Viewpoint,
and
it's
all
about
establishing
relationships.
C
Tomorrow
we
have
a
Special
Olympics,
which
is
going
to
be
down
at
May
River,
High
School,
and
that
starts
at
9.
30
a.m.
Definitely
would
encourage
anybody
that
can
make
that
make
it
to
that.
Please
come
down
and
see
it.
It
is
amazing,
you
see
some
tremendous
athletes
down
there
and
it
is
a
great
time.
C
C
If
you
live
in
a
subdivision
anywhere-
and
you
would
like
for
us
to
come
and
cook
for
your
community
and
give
us
an
opportunity
to
meet
with
everybody
and
just
have
casual
conversations,
please
give
Sergeant
carafa
a
call.
He
can
be
reached
at.
C
843-637-9707
and
what
we
do,
it
costs
nothing
to
all
any
subdivision.
We
just
come
out.
We
bring
the
grill,
we
bring
the
food,
we
bring
some
refreshments,
we
will
cook
and
we
will
for
you.
We
will
feed
you
and
it
gives
us
a
good
opportunity
just
to
get
out
outside
of
uniform
and
speak
with
people
in
our
community
to
find
out
some
of
the
issues
that
that
they're
dealing
with
one
of
our
big
threats
that
we're
facing
that
I've
noticed
the
three
months
that
I've
been
police
chief
is
motor
vehicle
accidents.
C
Over
this
past
year,
we've
had
over
1400
motor
vehicle
accidents,
which
translates
to
about
120
accidents
a
month.
One
of
the
main
issues
that
we
are
seeing
with
motor
vehicle
accidents
is
distracted
driving.
We
have
teamed
up
with
lotsy
43
program
to
create
awareness
for
distracted
driving.
C
One
thing
that
we're
excited
to
announce
is
recently
I
met
with
Dr
Rodriguez
and
the
Beaufort
County
School
District,
and
we
are
making
a
we
are
teaming
up
and
we
are
making
a
requirement
starting
next
year
for
all
of
our
students
in
order
for
them
to
get
a
parking
pass.
They
have
to
go
online
and
sign
a
pledge
with
the
let's
say,
43
program,
to
create
awareness
for
distracted
driving.
C
We
currently
have
10
positions
opening
opened
and
we
are
looking
to
fill
those
positions,
but
we
want
to
make
sure
that
we
are
filling
those
positions
with
the
right
people
that
are
going
to
fit
into
our
culture.
And
so
we
will
take
our
time
filling
these
positions,
ensuring
that
we
have
people
that
want
to
come
and
work
here
and
serve
the
community
of
Bluffton.
C
So
that
may
take
a
little
bit
of
time,
but
I'm,
confident
that
over
this
next
year
we
will
be
able
to
fill
those
positions.
We
are
also
working
with
Beaufort
County
Sheriff's
Office,
the
Beaufort
City
and
the
Beaufort
County
School
District
to
get
school
resource
officers
in
every
school
in
Beaufort
County.
We
are
looking
to
fill
four
positions
in
all
of
our
elementary
schools,
as
well
as
I
have
some
private
schools
within
the
town
of
Bluffton
that
are
also
interested
in
having
sros
at
their
positions.
C
So
if
people
are
interested
in
any
of
those
positions,
please
give
us
a
call
or
they
can
contact
us
at
www.town
of
bluffton.com
and
there's
an
application
process
on
there
and
we'll
be
more
than
happy
to
entertain
that.
So
thank
you
again
and
I'm
open
for
questions.
A
All
right,
Chief,
thank
you
and
congratulations
on
some
of
the
new
programs
and
initiatives
that
you're
bringing
forward.
Certainly
think
that
speaks
volumes
about
the
police
department
and
getting
out
into
the
community
and
speaking
of
the
community.
That's
one
of
the
questions
that
we
have
and
that
question
is
coming
from
Mark
and
Mark
is
asking
how
we,
the
community,
can
continue
to
support
your
officers,
so
they
know
they're
appreciated.
C
We
believe,
and
if
you
see
something
say
something
oftentimes
if
we
have
car
breakings
in
a
particular
area
or
neighborhood
or
something
going
on
we'll
do
a
neighborhood
canvas
and
somebody
will
tell
us
well:
yeah
I
saw
a
car
down
the
street
last
night,
but
I
didn't
think
anything
of
it.
Give
us
a
phone
call.
If
you
see
something
suspicious,
if
you
see
a
car
that
doesn't
belong
in
a
particular
area,
don't
be
afraid
to
call
us
the
worst
thing
that
can
happen.
C
Is
our
officers
go
out
to
the
scene
they
meet
with
somebody
and
they
have
every
reason
to
be
there
and
they're
not
up
to
anything,
but
that
one
or
two
times
that
one
time
that
you,
you
don't
call,
and
we
don't
come
out
there.
Then
that
could
be
the
time.
Something
happens.
So
call
us
for
anything
we're
available
and
we
will
come
out
and
respond.
C
Right
now
we
are
slated
for
60
sworn
officers
and
we
have
10
non-sborne
officers,
meaning
civilian
positions.
We
have
50
50
officers
right
now
and
we're
looking
to
fill
those
10
additional
spots.
We
have.
We
are
going
to
be
adding
an
additional
seven
sros
this
year.
If
all
goes
well,
so
that
number
will
obviously
increase
if
we
could
fill
those
school
resource
officer
positions.
A
All
right,
Chief,
there's
been
a
few
more
comments,
not
questions,
but
those
comments
have
been
to
thank
you
for
your
leadership
and
the
department
and
several
several
people
have
been
emailing
that
in
so
thank
you
for
that
and
thank
you
for
joining
us
today.
A
We're
here
to
support
you
and
the
and
the
the
team
there
and
the
police
department,
the
officers
and
please
let
us
know,
as
the
Chamber
of
Commerce
or
any
of
our
members,
residence
Community
can
do
to
continue
to
Foster
the
the
positive
vibe
in
the
Bluffton
Police
Department
I.
C
A
All
right,
thank
you
for
joining
us
to
everybody
and
stay
tuned
and
check
your
inbox.
You'll
have
a
survey
shortly
about
Power
Hour.
We
want
to
know
what
you
think
in
other
topics
that
you
would
like
to
see
and
make
sure
that
we're
doing
and
covering
what
you
like
to
hear
and
are
interested
in
I
want
to
mention.
Also
this
Thursday,
our
annual
plaid
part
T.
You
don't
want
to
miss
that
it's
another
wind
up
and
kick
off
to
the
RBC
Heritage
presented
by
Boeing
and
that's
going
to
be
at
5
30
p.m.
A
This
Thursday
evening
at
the
University
of
South,
Carolina,
Beaufort,
Hilton,
Head,
Hospitality
campus,
so
make
sure
you
you
got
the
the
hospitality
campus
on
Hilton
Head
for
uscb,
and
then
you
can
also
get
all
that
info
on
our
website
at
Hilton,
Head
blufftonchamber.org.
Thank
you
for
tuning
in
today.
We
look
forward
to
seeing
you
next
week
at
the
RBC
Heritage
and
have
a
great
rest
your
day
and
a
great
rest
of
your
week.