On the uniqueness of community banks

To the public, all banks seem alike. But banking insiders make important distinctions between community banks and all other banks. Policymakers worry that community banks’ unique characteristics threaten their survival in the face of industry consolidation. However, despite dramatic regulatory and technological changes in the industry in the past two decades, community banks have not only survived but often prospered. ; This article explores the differences between community banks and larger banks to discover what makes community banks unique. Large banks engage primarily in transactional banking—the provision of highly standardized intermediation services, such as gathering deposits and extending loans, that require little human input to manage. Community banks, in contrast, typically focus on relationship banking, which requires more human input, more detailed credit evaluation, and localized decision making. ; Examining profit and risk measures for the 1998–2002 period for both community banks and large banking organizations, the authors find evidence that small banks were generally profitable. In all but the smallest size category, community banks have performed as well as, and often better than, large banks in managing net interest margins, aggregate profits, and credit risk. Also, community banks are more likely to adopt Subchapter S tax status, which allows them to avoid direct federal income taxation and pass tax benefits on to shareholders. These institutions typically have relatively higher returns on both equity and assets than larger banks do. Whether community banks will be able to sustain this good performance will depend, the authors conclude, on how well managers find valuable relationship lending niches, invest bank capital, and balance asset quality with growth.Community banks

Distribution of Isolated Volcanoes on the Flanks of the East Pacific Rise, 15.3°-20°S

Volcanic constructions, not associated with seamount (or volcano) chains, are abundant on the flanks of the East Pacific Rise (EPR) but are rare along the axial high. The distribution of isolated volcanoes, based on multibeam bathymetric maps, is approximately symmetric about the EPR axis. This symmetry contrasts with the asymmetries in the distribution of volcano chains (more abundant on the west flank), the seafloor subsidence rates (slower on the west flank), and the distribution of plate-motion-parallel gravity lineaments (more prominento nthe west flank). Most of the isolated volcanoes complete their growth within -14 km of the axis on crust younger than 0.2 Ma, while seamount chain volcanoes continue to be active on older crust. Volcanic edifices within 6 km of the ridge axis are primarily found adjacent to axial discontinuities, suggesting a more sporadic magma supply and stronger lithosphere able to support volcanic constructions near axial discontinuities. The volume of isolated near-axis volcanoes correlates with ridge axis cross-sectional area, suggesting a link between the magma budget of the ridge and the eruption of near-axis volcanoes. Within the study area, off-axis volcanic edifices cover at least 6% of the seafloor and contribute more than 0.2% to the volume of the crust. The inferred width of the zone where isolated volcanoes initially form increases with spreading rate for the Mid-Atlantic Ridge (\u3c4 km), northern EPR (\u3c20 km), and southern EPR(\u3c28 km), so that isolated volcanoes form primarily on lithosphere younger than 0.2 Ma (\u3c 4-6 km brittle thickness), independent of spreading rate. This suggests some form of lithospheric control on the eruption of isolated off-axis volcanoes due to brittle thickness, increased normal stresses across cracks impeding dike injection, or thermal stresses within the newly forming lithosphere

Long-term trends in yield variance of temperate managed grassland

The management of climate-resilient grassland systems is important for stable livestock fodder production. In the face of climate change, maintaining productivity while minimizing yield variance of grassland systems is increasingly challenging. To achieve climate-resilient and stable productivity of grasslands, a better understanding of the climatic drivers of long-term trends in yield variance and its dependence on agronomic inputs is required. Based on the Park Grass Experiment at Rothamsted (UK), we report for the first time the long-term trends in yield variance of grassland (1965–2018) in plots given different fertilizer and lime applications, with contrasting productivity and plant species diversity. We implemented a statistical model that allowed yield variance to be determined independently of yield level. Environmental abiotic covariates were included in a novel criss-cross regression approach to determine climatic drivers of yield variance and its dependence on agronomic management. Our findings highlight that sufficient liming and moderate fertilization can reduce yield variance while maintaining productivity and limiting loss of plant species diversity. Plots receiving the highest rate of nitrogen fertilizer or farmyard manure had the highest yield but were also more responsive to environmental variability and had less plant species diversity. We identified the days of water stress from March to October and temperature from July to August as the two main climatic drivers, explaining approximately one-third of the observed yield variance. These drivers helped explain consistent unimodal trends in yield variance—with a peak in approximately 1995, after which variance declined. Here, for the first time, we provide a novel statistical framework and a unique long-term dataset for understanding the trends in yield variance of managed grassland. The application of the criss-cross regression approach in other long-term agro-ecological trials could help identify climatic drivers of production risk and to derive agronomic strategies for improving the climate resilience of cropping systems

Sponge-dwelling snapping shrimp.

22 p. : ill. ; 26 cm.Includes bibliographical references (p. 21-22).Two new species of sponge-dwelling snapping shrimp in the genus Synalpheus are described. Synalpheus carpenteri is based on specimens collected from the Belizean barrier reef, the Exuma Islands of the Bahamas, and the Atlantic coast of Panama, while Synalpheus ruetzleri is based on specimens collected from the Belizean barrier reef and the Atlantic coast of Panama. Both species belong to a group of closely related shrimp (the "Synalpheus brooksi complex") that includes Synalpheus brooksi, Synalpheus bousfieldi, Synalpheus chacei, and possibly additional undescribed species. All species in the complex are remarkably similar in morphology, but Synalpheus carpenteri is readily recognizable by its brilliant orange color in life, its habitation solely in sponges of the genus Agelas, its squat, wide-based telson, and the short lateral spines of its scaphocerite and basicerite. Synalpheus ruetzleri appears unique within the complex in possessing a well-developed blade on the scaphocerite. Specimens of Synalpheus brooksi and S. bousfieldi from Belize and other localities are also figured to facilitate separation of members of the brooksi complex

Crossreactive T Cells Spotlight the Germline Rules for αβ T Cell-Receptor Interactions with MHC Molecules

SummaryTo test whether highly crossreactive αβ T cell receptors (TCRs) produced during limited negative selection best illustrate evolutionarily conserved interactions between TCR and major histocompatibility complex (MHC) molecules, we solved the structures of three TCRs bound to the same MHC II peptide (IAb-3K). The TCRs had similar affinities for IAb-3K but varied from noncrossreactive to extremely crossreactive with other peptides and MHCs. Crossreactivity correlated with a shrinking, increasingly hydrophobic TCR-ligand interface, involving fewer TCR amino acids. A few CDR1 and CDR2 amino acids dominated the most crossreactive TCR interface with MHC, including Vβ8 48Y and 54E and Vα4 29Y, arranged to impose the familiar diagonal orientation of TCR on MHC. These interactions contribute to MHC binding by other TCRs using related V regions, but not usually so dominantly. These data show that crossreactive TCRs can spotlight the evolutionarily conserved features of TCR-MHC interactions and that these interactions impose the diagonal docking of TCRs on MHC

The Role and Value of Science in Shark Conservation Advocacy

Many species of sharks are threatened with extinction, and there has been a longstanding debate in scientific and environmental circles over the most effective and appropriate strategy to conserve and protect them. Should we allow for sustainable fisheries exploitation of species which can withstand fishing pressure, or ban all fisheries for sharks and trade in shark products? In the developing world, exploitation of fisheries resources can be essential to food security and poverty alleviation, and global management efforts are typically focused on sustainably maximizing economic benefits. This approach aligns with traditional fisheries management and the perspectives of most surveyed scientific researchers who study sharks. However, in Europe and North America, sharks are increasingly venerated as wildlife to be preserved irrespective of conservation status, resulting in growing pressure to prohibit exploitation of sharks and trade in shark products. To understand the causes and significance of this divergence in goals, we surveyed 155 shark conservation focused environmental advocates from 78 environmental non-profits, and asked three key questions: (1) where do advocates get scientific information? (2) Does all policy-relevant scientific information reach advocates? and (3) Do advocates work towards the same policy goals identified by scientific researchers? Findings suggest many environmental advocates are aware of key scientific results and use science-based arguments in their advocacy, but a small but vocal subset of advocates report that they never read the scientific literature or speak to scientists. Engagement with science appears to be a key predictor of whether advocates support sustainable management of shark fisheries or bans on shark fishing and trade in shark products. Conservation is a normative discipline, and this analysis more clearly articulates two distinct perspectives in shark conservation. Most advocates support the same evidence-based policies as academic and government scientists, while a smaller percentage are driven more by moral and ethical beliefs and may not find scientific research relevant or persuasive. We also find possible evidence that a small group of non-profits may be misrepresenting the state of the science while claiming to use science-based arguments, a concern that has been raised by surveyed scientists about the environmental community. This analysis suggests possible alternative avenues for engaging diverse stakeholders in productive discussions about shark conservation

Tibial plateau fractures in older adults are associated with a clinically significant deterioration in health-related quality of life

Aims To investigate health-related quality of life (HRQoL) of older adults (aged ≥ 60 years) after tibial plateau fracture (TPF) compared to preinjury and population matched values, and what aspects of treatment were most important to patients. Methods We undertook a retrospective, case-control study of 67 patients at mean 3.5 years (SD 1.3; 1.3 to 6.1) after TPF (47 patients underwent fixation, and 20 nonoperative management). Patients completed EuroQol five-dimension three-level (EQ-5D-3L) questionnaire, Lower Limb Function Scale (LEFS), and Oxford Knee Scores (OKS) for current and recalled prefracture status. Propensity score matching for age, sex, and deprivation in a 1:5 ratio was performed using patient level data from the Health Survey for England to obtain a control group for HRQoL comparison. The primary outcome was the difference in actual (TPF cohort) and expected (matched control) EQ-5D-3L score after TPF. Results TPF patients had a significantly worse EQ-5D-3L utility (mean difference (MD) 0.09, 95% confidence interval (CI) 0.00 to 0.16; p &lt; 0.001) following their injury compared to matched controls, and had a significant deterioration (MD 0.140, 95% CI 0 to 0.309; p &lt; 0.001) relative to their preoperative status. TPF patients had significantly greater pre-fracture EQ-5D-3L scores compared to controls (p = 0.003), specifically in mobility and pain/discomfort domains. A decline in EQ-5D-3L greater than the minimal important change of 0.105 was present in 36/67 TPF patients (53.7%). Following TPF, OKS (MD -7; interquartile range (IQR)-1 to-15) and LEFS (MD -10; IQR -2 to -26) declined significantly (p &lt; 0.001) from pre-fracture levels. Of the 12 elements of fracture care assessed, the most important to patients were getting back to their own home, having a stable knee, and returning to normal function. Conclusion TPFs in older adults were associated with a clinically significant deterioration in HRQoL compared to preinjury level and age, sex, and deprivation matched controls for both undisplaced fractures managed nonoperatively and displaced or unstable fractures managed with internal fixation.</p