Seventy Seven Energy Inc (SSE)

Southern Connecticut Bancorp, Inc. is a bank holding company incorporated on November 8, 2000. The Company owns 100% of the capital stock of The Bank of Southern Connecticut (the 'Bank'), a Connecticut-chartered bank. The Company's strategic objective is to serve as a bank holding company for a community-based commercial bank and a mortgage broker serving mainly New Haven County (the 'Greater New Haven Market'). The Bank focuses on serving the banking needs of small to medium-sized businesses, professionals and professional corporations, and their owners and employees in the Greater New Haven Market. The Bank offers a range of loans to businesses and individuals in its service area, including commercial and business loans, industrial loans, personal loans, commercial and home mortgage loans, home equity loans and automobile loans. The Bank has attracted a base of core deposits, including interest bearing and non-interest bearing checking accounts, money market accounts, savings accounts, sweep accounts, NOW accounts, repurchase agreements, and a variety of certificates of deposits and IRA accounts. The primary sources of deposits have been and are expected to continue to be small to medium-sized businesses, professionals (lawyers, doctors, accountants, etc.) and professional corporations, and their owners and employees. The Bank obtains these deposits through personal solicitation by its officers and directors, outside programs and advertisements published and/or broadcasted in the local media. The Bank offers internet-banking services to its customers, including commercial cash management services and personal banking services. The Bank offers remote deposit capture, which offers check deposit capabilities for customers from their place of business. The Bank also offers drive-in teller services, automated teller services, wire transfer, lock box and safe deposit services. The Bank provides a range of other services and products, including cashier's checks, money orders, travelers' checks, bank-by-mail, direct deposit and U.S. Savings Bonds. The Bank is associated with a shared network of automated teller machines that its customers are able to use throughout Connecticut and other regions. The Bank does not expect to offer trust services directly in the near future, but might offer trust services in the future independently or possibly through a joint venture with a larger institution. The Company operates in a heavily regulated industry and is subject to increasing regulatory review and scrutiny from the Federal Reserve Board, the Connecticut Banking Commissioner, and the FDIC. There are numerous banks and other financial institutions serving the Greater New Haven Market posing significant competition to attract deposits and loans. The Banks and bank holding companies are extensively regulated under both federal and state law.