We urge you to restructure this transaction to more fairly balance the capital raised through the rights offering and the capital raised through the private placement. This would allow existing stockholders the opportunity for greater participation in the capital raising transaction and would result in substantial cost savings to the company. Further, the board should reconsider the total amount of capital raised in this transaction to better align with identified needs. In the alternative, we request that you provide the stockholders with a detailed explanation of the proposed use of the funds being raised.We would be happy to further discuss our concerns directly with you. In any event, we are requesting that you respond to this letter no later than February 11, 2013. I can be reached at the address above or by phone at (203) 769-2000. In the meantime, we continue to evaluate our options, including public disclosure of our concerns.Thank you for your attention to this matter. Sincerely, Jeffrey L. GendellManaging Member of Tontine Management, L.L.C.,General Partner of Tontine Financial Partners, L.P. About TontineTontine Financial Partners, L.P is an investment partnership specializing in the financial services sector. SOURCE Tontine Financial Partners, L.P.