1
Exhibit 99
FINANCIAL STATEMENTS AND
REPORT OF INDEPENDENT CERTIFIED
PUBLIC ACCOUNTANTS
CAMCO FINANCIAL CORPORATION 401(K)
SALARY SAVINGS PLAN
December 31, 1997, 1996 and 1995
2
CONTENTS
Page
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS 3
FINANCIAL STATEMENTS
STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS 4
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR
PLAN BENEFITS 6
NOTES TO FINANCIAL STATEMENTS 9
SUPPLEMENTAL INFORMATION
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 14
SCHEDULE OF REPORTABLE TRANSACTIONS 15
3
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
Trustees
Camco Financial Corporation 401(k) Salary Savings Plan
We have audited the accompanying statements of net assets available for plan
benefits of Camco Financial Corporation 401(k) Salary Savings Plan as of
December 31, 1997 and 1996, and the related statements of changes in net assets
available for plan benefits for the years ended December 31, 1997, 1996 and
1995. These financial statements are the responsibility of the Plan's
management. Our responsibility is to express an opinion on these financial
statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for plan benefits of the Plan as
of December 31, 1997 and 1996, and the changes in net assets available for plan
benefits for the years ended December 31, 1997, 1996 and 1995, in conformity
with generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of assets held
for investment purposes and reportable transactions are presented for the
purpose of additional analysis and are not a required part of the basic
financial statements but are supplementary information required by the
Department of Labor's Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974. The supplemental schedules
have been subjected to the auditing procedures applied in the audits of the
basic financial statements and, in our opinion, are fairly stated in all
material respects in relation to the basic financial statements taken as a
whole.
/s/ Grant Thornton LLP
Cincinnati, Ohio
February 16, 1998
4
CAMCO FINANCIAL CORPORATION 401(k) SALARY SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
December 31, 1997
FIDELITY VANGUARD VANGUARD CAMBRIDGE
BLUE CHIP TEMPLETON INDEX WELLINGTON SAVINGS
GROWTH ACORN FOREIGN TRUST BALANCED CERTIFICATES
ASSETS FUND FUND FUND FUND FUND OF DEPOSIT
Investments at current value:
Common stock $ - $ - $ - $ - $ - $ -
Mutual funds 379,213 1,019,827 340,484 754,594 482,109 -
Certificates of deposit - - - - - 921,297
U.S. Treasury obligations 6,900 90,900 2,500 8,800 - 9,200
Notes receivable - - - - - -
---------- ---------- ---------- ---------- ---------- ----------
Total investments 386,113 1,110,727 342,984 763,394 482,109 930,497
Accrued interest receivable 34 168 15 52 33 14,280
Contribution receivable - employer 1,456 2,952 966 1,754 1,374 1,070
Contribution receivable - participants' 2,467 5,897 1,831 3,498 2,994 1,841
---------- ---------- ---------- ---------- ---------- ----------
Total receivable 3,957 9,017 2,812 5,304 4,401 17,191
Cash and cash equivalents 18 88 5,815 81 - 7
---------- ---------- ---------- ---------- ---------- ----------
Net assets available for Plan benefits $ 390,088 $1,119,832 $ 351,611 $ 768,779 $ 486,510 $ 947,695
========== ========== ========== ========== ========== ==========
CAMCO
FINANCIAL
LOAN CORPORATION
ASSETS FUND STOCK TOTAL
Investments at current value:
Common stock $ - $ 908,642 $ 908,642
Mutual funds - - 2,976,227
Certificates of deposit - - 921,297
U.S. Treasury obligations - - 118,300
Notes receivable 51,106 - 51,106
---------- ---------- ----------
Total investments 51,106 908,642 4,975,572
Accrued interest receivable - 46 14,628
Contribution receivable - employer - 2,173 11,745
Contribution receivable - participants' - 3,931 22,459
---------- ---------- ----------
Total receivable - 6,150 48,832
Cash and cash equivalents - 38 6,047
---------- ---------- ----------
Net assets available for Plan benefits $ 51,106 $ 914,830 $5,030,451
========== ========== ==========
The accompanying notes are an integral part of these statements.
4
5
CAMCO FINANCIAL CORPORATION 401(k) SALARY SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
December 31, 1996
FIDELITY VANGUARD VANGUARD
BLUE CHIP TEMPLETON INDEX WELLINGTON
GROWTH ACORN FOREIGN TRUST BALANCED
ASSETS FUND FUND FUND FUND FUND
Investments at current value:
Common stock $ - $ - $ - $ - $ -
Mutual funds 113,948 554,504 162,193 279,569 232,480
Certificates of deposit - - - - -
U.S. Treasury obligations 1,500 53,600 1,100 5,300 2,000
Notes receivable - - - - -
---------- ---------- ---------- ---------- ----------
Total investments 115,448 608,104 163,293 284,869 234,480
Accrued interest receivable 11 126 5,717 23 30
Contribution receivable - employer 1,442 2,325 747 1,233 1,075
Contribution receivable - participants' 2,479 4,661 1,483 2,511 2,529
---------- ---------- ---------- ---------- ----------
Total receivable 3,932 7,112 7,947 3,767 3,634
Cash and cash equivalents 76 90 1,258 31 49
---------- ---------- ---------- ---------- ----------
Net assets available for Plan benefits $ 119,456 $ 615,306 $ 172,498 $ 288,667 $ 238,163
========== ========== ========== ========== ==========
CAMBRIDGE CAMCO
SAVINGS FINANCIAL
CERTIFICATES LOAN CORPORATION
ASSETS OF DEPOSIT FUND STOCK TOTAL
Investments at current value:
Common stock $ - $ - $ 244,363 $ 244,363
Mutual funds - - - 1,342,694
Certificates of deposit 361,722 - - 361,722
U.S. Treasury obligations 7,500 2,400 3,000 76,400
Notes receivable - 56,510 - 56,510
---------- ---------- ---------- ----------
Total investments 369,222 58,910 247,363 2,081,689
Accrued interest receivable 5,826 - 26 11,759
Contribution receivable - employer 1,065 - 1,885 9,772
Contribution receivable - participants' 1,939 - 3,522 19,124
---------- ---------- ---------- ----------
Total receivable 8,830 - 5,433 40,655
Cash and cash equivalents 28 - 41 1,573
---------- ---------- ---------- ----------
Net assets available for Plan benefits $ 378,080 $ 58,910 $ 252,837 $2,123,917
========== ========== ========== ==========
The accompanying notes are an integral part of these statements.
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CAMCO FINANCIAL CORPORATION 401(k) SALARY SAVINGS PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
For the year ended December 31, 1997
FIDELITY VANGUARD VANGUARD
BLUE CHIP TEMPLETON INDEX WELLINGTON
GROWTH ACORN FOREIGN TRUST BALANCED
FUND FUND FUND FUND FUND
Additions to net assets attributed to:
Interest and dividends $ 18,259 $ 105,412 $ 38,637 $ 14,879 $ 39,372
Net appreciation (depreciation) 56,199 115,963 (20,679) 156,286 44,272
Contributions - employer 13,967 35,181 12,908 20,512 16,788
Contributions - participants' 24,143 70,151 23,900 38,992 30,116
Rollovers 186,552 190,024 120,898 215,180 137,732
---------- ---------- ---------- ---------- ----------
Total contributions 224,662 295,356 157,706 274,684 184,636
---------- ---------- ---------- ---------- ----------
Total additions 299,120 516,731 175,664 445,849 268,280
Deductions from net assets attributed to:
Benefit payments 5,829 18,608 13,586 21,755 5,439
---------- ---------- ---------- ---------- ----------
Net increase before transfers 293,291 498,123 162,078 424,094 262,841
Interfund transfers (22,659) 6,403 17,035 56,018 (14,494)
---------- ---------- ---------- ---------- ----------
Net increase 270,632 504,526 179,113 480,112 248,347
Net assets available for plan benefits:
Beginning of year 119,456 615,306 172,498 288,667 238,163
---------- ---------- ---------- ---------- ----------
End of year $ 390,088 $1,119,832 $ 351,611 $ 768,779 $ 486,510
========== ========== ========== ========== ==========
CAMBRIDGE CAMCO
SAVINGS FINANCIAL
CERTIFICATES LOAN CORPORATION
OF DEPOSIT FUND STOCK TOTAL
Additions to net assets attributed to:
Interest and dividends $ 49,367 $ 5,768 $ 14,699 $ 286,393
Net appreciation (depreciation) - - 351,004 703,045
Contributions - employer 14,753 - 26,536 140,645
Contributions - participants' 20,795 - 46,779 254,876
Rollovers 531,912 - 231,235 1,613,533
---------- ---------- ---------- ----------
Total contributions 567,460 - 304,550 2,009,054
---------- ---------- ---------- ----------
Total additions 616,827 5,768 670,253 2,998,492
Deductions from net assets attributed to:
Benefit payments 21,676 1,211 3,854 91,958
---------- ---------- ---------- ----------
Net increase before transfers 595,151 4,557 666,399 2,906,534
Interfund transfers (25,536) (12,361) (4,406) -
---------- ---------- ---------- ----------
Net increase 569,615 (7,804) 661,993 2,906,534
Net assets available for plan benefits:
Beginning of year 378,080 58,910 252,837 2,123,917
---------- ---------- ---------- ----------
End of year $ 947,695 $ 51,106 $ 914,830 $5,030,451
========== ========== ========== ==========
The accompanying notes are an integral part of these statements.
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CAMCO FINANCIAL CORPORATION 401(k) SALARY SAVINGS PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
For the year ended December 31, 1996
FIDELITY VANGUARD
PEOPLES BLUE CHIP TEMPLETON INDEX
BALANCED GROWTH ACORN FOREIGN TRUST
FUND FUND FUND FUND FUND
Additions to net assets attributed to:
Interest and dividends $ - $ 7,901 $ 58,185 $ 7,462 $ 6,997
Net appreciation (depreciation) - 3,229 43,997 15,438 42,486
Contributions - employer - 6,295 21,198 9,201 12,368
Contributions - participants' - 10,735 58,191 22,516 30,561
Rollovers - 18,058 14,665 6,339 9,852
---------- ---------- ---------- ---------- ----------
Total contributions - 35,088 94,054 38,056 52,781
---------- ---------- ---------- ---------- ----------
Total additions - 46,218 196,236 60,956 102,264
Deductions from net assets attributed to:
Benefit payments - - 19,789 5,636 6,224
---------- ---------- ---------- ---------- ----------
Net increase (decrease) before transfers - 46,218 176,447 55,320 96,040
Interfund transfers (238,221) 73,238 (318) 13,112 (7,781)
---------- ---------- ---------- ---------- ----------
Net increase (decrease) (238,221) 119,456 176,129 68,432 88,259
Net assets available for plan benefits:
Beginning of year 238,221 - 439,177 104,066 200,408
---------- ---------- ---------- ---------- ----------
End of year $ - $ 119,456 $ 615,306 $ 172,498 $ 288,667
========== ========== ========== ========== ==========
VANGUARD CAMBRIDGE CAMCO
WELLINGTON SAVINGS FINANCIAL
BALANCED CERTIFICATES LOAN CORPORATION
FUND OF DEPOSIT FUND STOCK TOTAL
Additions to net assets attributed to:
Interest and dividends $ 22,908 $ 24,196 $ - $ 5,517 $ 133,166
Net appreciation (depreciation) 21,522 - - (19,443) 107,229
Contributions - employer 11,511 13,739 - 17,297 91,609
Contributions - participants' 29,242 31,332 - 43,679 226,256
Rollovers 14,650 703 - 17,476 81,743
---------- ---------- ---------- ---------- ----------
Total contributions 55,403 45,774 - 78,452 399,608
---------- ---------- ---------- ---------- ----------
Total additions 99,833 69,970 - 64,526 640,003
Deductions from net assets attributed to:
Benefit payments 38,115 21,406 4,461 6,235 101,866
---------- ---------- ---------- ---------- ----------
Net increase (decrease) before transfers 61,718 48,564 (4,461) 58,291 538,137
Interfund transfers 176,445 (79,459) 6,700 56,284 -
---------- ---------- ---------- ---------- ----------
Net increase (decrease) 238,163 (30,895) 2,239 114,575 538,137
Net assets available for plan benefits:
Beginning of year - 408,975 56,671 138,262 1,585,780
---------- ---------- ---------- ---------- ----------
End of year $ 238,163 $ 378,080 $ 58,910 $ 252,837 $2,123,917
========== ========== ========== ========== ==========
The accompanying notes are an integral part of these statements.
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CAMCO FINANCIAL CORPORATION 401(k) SALARY SAVINGS PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
For the year ended December 31, 1995
VANGUARD
PEOPLES TEMPLETON INDEX
BALANCED ACORN FOREIGN TRUST
FUND FUND FUND FUND
Additions to net assets attributed to:
Interest and dividends $ 12,625 $ 35,054 $ 7,199 $ 4,777
Net appreciation 26,931 30,886 3,319 42,576
Contributions - employer 8,146 14,111 4,091 5,717
Contributions - participants' 33,127 59,479 14,668 25,379
---------- ---------- ---------- ----------
Total contributions 41,273 73,590 18,759 31,096
---------- ---------- ---------- ----------
Total additions 80,829 139,530 29,277 78,449
Deductions from net assets attributed to:
Benefit payments 15,586 13,433 4,142 12,966
---------- ---------- ---------- ----------
Net increase (decrease) before transfers 65,243 126,097 25,135 65,483
Interfund transfers (65,008) (21,187) (39,708) (13,401)
---------- ---------- ---------- ----------
Net increase (decrease) 235 104,910 (14,573) 52,082
Net assets available for plan benefits:
Beginning of year 237,986 334,267 118,639 148,326
---------- ---------- ---------- ----------
End of year $ 238,221 $ 439,177 $ 104,066 $ 200,408
========== ========== ========== ==========
CAMBRIDGE CAMCO
SAVINGS FINANCIAL
CERTIFICATES LOAN CORPORATION
OF DEPOSIT FUND STOCK TOTAL
Additions to net assets attributed to:
Interest and dividends $ 26,984 $ - $ 2,260 $ 88,899
Net appreciation - - 15,377 119,089
Contributions - employer 15,845 - 11,009 58,919
Contributions - participants' 50,787 - 38,741 222,181
---------- ---------- ---------- ----------
Total contributions 66,632 - 49,750 281,100
---------- ---------- ---------- ----------
Total additions 93,616 - 67,387 489,088
Deductions from net assets attributed to:
Benefit payments 16,838 2,801 5,586 71,352
---------- ---------- ---------- ----------
Net increase (decrease) before transfers 76,778 (2,801) 61,801 417,736
Interfund transfers 19,323 43,520 76,461 -
---------- ---------- ---------- ----------
Net increase (decrease) 96,101 40,719 138,262 417,736
Net assets available for plan benefits:
Beginning of year 312,874 15,952 - 1,168,044
---------- ---------- ---------- ----------
End of year $ 408,975 $ 56,671 $ 138,262 $1,585,780
========== ========== ========== ==========
The accompanying notes are an integral part of these statements.
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CAMCO FINANCIAL CORPORATION 401(k) SALARY SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
December 31, 1997, 1996 and 1995
NOTE A - DESCRIPTION OF PLAN
The following description of the Camco Financial Corporation 401(k) Salary
Savings Plan ("Plan") provides only general information. Participants should
refer to the Plan agreement for a more complete description of the Plan's
provisions.
1. General
-------
The Plan is a defined contribution plan covering all full-time employees of
the Company who have one year of service (1,000 hours or more) and are age
twenty-one or older. Effective July 31, 1997, the Plan was amended to remove
any service or age requirement for deferral elections. The Plan was further
amended to require one year of service (1,000 hours or more) to share in the
matching Company contribution. It is subject to the provisions of the
Employee Retirement Income Security Act of 1974 (ERISA).
2. Contributions
-------------
Each year, participants may contribute up to 15 percent of pretax annual
compensation, as defined in the Plan. Participants may also contribute
amounts representing distributions from other qualified defined benefit or
contribution plans. In 1995, the Company contributed 50 percent of the first
four percent of base compensation that a participant contributed to the
Plan. On July 1, 1996, the Plan sponsor amended the Plan so that the Company
contributes 100 percent of the first three percent of base compensation and
contributes 50 percent of the next two percent of base compensation.
Contributions are subject to certain limitations.
3. Participant Accounts
--------------------
Each participant's account is credited with the participant's contribution
and allocations of (a) the Company's contribution and, (b) Plan earnings.
Allocations are based on each account balance, as defined. Forfeited
balances of terminated participants' nonvested accounts are used to reduce
future Company contributions. The benefit to which a participant is entitled
is the benefit that can be provided from the participant's vested account.
4. Vesting
-------
Participants are immediately vested in their contributions plus actual
earnings thereon. Vesting in the Company's matching and discretionary
contribution portion of their accounts plus actual earnings thereon is based
on years of continuous service. A participant is 100 percent vested after
five years of participation as follows:
VESTING
YEAR OF PARTICIPATION PERCENT
One year 20%
Two years 40%
Three years 60%
Four years 80%
Five years 100%
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CAMCO FINANCIAL CORPORATION 401(k) SALARY SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
December 31, 1997, 1996 and 1995
NOTE A - DESCRIPTION OF PLAN (continued)
4. Vesting (continued)
--------
During 1997, various participants received distributions from the Company's
pension plan, which was terminated. Participants had the option of rolling
these funds into the 401(k) Plan and direct them in various investment
options. Total rollovers in 1997 totaled $1,613,533.
5. Investment Options
------------------
Upon enrollment in the Plan, a participant may direct contributions in
various investment options.
* FIDELITY BLUE CHIP GROWTH FUND -- The fund invests approximately 60
percent of its assets in common stock of Blue Chip companies.
* ACORN FUND -- An aggressive growth mutual fund that invests in
primarily stocks of smaller companies.
* TEMPLETON FOREIGN FUND -- An aggressive growth mutual fund that
invests primarily in stocks of foreign companies.
* VANGUARD INDEX TRUST FUND -- A mutual fund that invests primarily in
Blue Chip companies.
* VANGUARD WELLINGTON BALANCED FUND -- A mutual fund that seeks
conservation of capital and reasonable income and invests in common
stocks and preferred stock debt securities.
* CAMBRIDGE SAVINGS CERTIFICATE OF DEPOSIT FUND -- Funds are invested in
certificates of deposit with a subsidiary of Camco Financial
Corporation.
* CAMCO FINANCIAL CORPORATION STOCK -- Funds are invested in stock of
the Plan sponsor's Camco Financial Corporation common stock.
Participants may change their investment options quarterly.
6. Participant Notes Receivable
----------------------------
Participants may borrow from their fund accounts a minimum of $1,000 up to a
maximum equal to the lesser of $50,000 or 50 percent of their account
balance. Loan transactions are treated as a transfer to (from) the
investment fund from (to) the Loan Fund. Loan terms range from 1-5 years.
The loans are secured by the balance in the participant's account and bear
interest at a rate of 2% over the prime rate.
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CAMCO FINANCIAL CORPORATION 401(k) SALARY SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
December 31, 1997, 1996 and 1995
NOTE A - DESCRIPTION OF PLAN (continued)
7. Payment of Benefits
-------------------
On termination of service due to death, disability or retirement, a participant
will receive a lump-sum amount equal to the value of the participants' vested
interest in his or her account. For termination of service due to other reasons,
a participant may receive the value of the vested interest in his or her account
as a lump-sum distribution.
NOTE B - SUMMARY OF ACCOUNTING POLICIES
1. Basis of Accounting
-------------------
The financial statements of the Plan are prepared under the accrual method of
accounting.
2. Investment Valuation and Income Recognition
-------------------------------------------
The Plan's investments are stated at fair value. Participant notes receivable
are valued at cost which approximates fair value.
Purchases and sales of securities are recorded on a trade-date basis. Interest
income is recorded on the accrual basis. Dividends are recorded on the
ex-dividend date.
Investments that represent five percent or more of the Plan's net assets are
separately identified.
1997 1996
Camco Financial Corporation stock $ 908,642 $ 244,363
Fidelity Blue Chip Growth Fund 379,213 113,948
Acorn Fund 1,019,827 554,504
Templeton Foreign Fund 340,484 162,193
Vanguard Index Trust Fund 754,594 279,569
Vanguard Wellington Fund 482,109 232,480
Cambridge Savings Certificates
of Deposit 921,297 361,722
During 1997, 1996 and 1995, the Plan's investments (including investments
bought, sold, and held during the year) appreciated in value by $703,045,
$107,229 and $119,089, respectively.
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CAMCO FINANCIAL CORPORATION 401(k) SALARY SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
December 31, 1997, 1996 and 1995
NOTE B - SUMMARY OF ACCOUNTING POLICIES (continued)
3. Payment of Benefits
-------------------
Benefits are recorded when paid.
4. Use of Estimates
----------------
The preparation of the financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosures of contingent asset and liabilities at the date of the
financial statements and the reported amounts of revenues and expenses
during the reporting period. Actual amounts could differ from those
estimates.
NOTE C - PLAN TERMINATION
Although it has not expressed any intent to do so, the Company has the right
under the Plan to discontinue its contributions at any time and to terminate
the Plan subject to the provisions of ERISA. In the event of Plan
termination, participants will become 100 percent vested in their accounts.
NOTE D - TAX STATUS
The Internal Revenue Service has determined and informed the Company by a
letter dated August 9, 1995, that the Plan and related trust are designed in
accordance with applicable sections of the Internal Revenue Code (IRC). The
Plan has been amended since receiving the determination letter. However, the
Plan administrator and the Plan's tax counsel believe that the Plan is
designed and is currently being operated in compliance with the applicable
requirements of the IRC. Therefore, they believe that the Plan was qualified
and the related trust was tax-exempt as of the financial statement date.
NOTE E- ADMINISTRATIVE EXPENSES
Administrative expenses of the Plan are paid by the Plan sponsor.
NOTE F - RELATED PARTY TRANSACTIONS
The Plan offers participants the option of investing in shares of stock of
the Plan sponsor, Camco Financial Corporation. The Plan also offers
participants the option of investing in certificates of deposit with
subsidiaries of Camco Financial Corporation and, therefore, these
transactions qualify as party-in-interest.
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SUPPLEMENTAL INFORMATION
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CAMCO FINANCIAL CORPORATION 401(k) SALARY SAVINGS PLAN
FORM 5500 E.I.N. 51-0110823
PLAN NO. - 002
ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
December 31, 1997
(a) (b) (c) (d) (e)
IDENTITY OF ISSUE, DESCRIPTION OF INVESTMENT INCLUDING
BORROWER, LESSOR, OR MATURITY DATE, RATE OF INTEREST; CURRENT
SIMILAR PARTY COLLATERAL, PAR OR MATURITY VALUE COST VALUE
COMMON STOCK SHARES
------------ ------
* Camco Financial Corporation stock 35,633 $ 560,570 $ 908,642
MUTUAL FUNDS
------------
Fidelity Blue Chip Growth Fund 9,610 319,872 379,213
Acorn Fund 60,025 833,908 1,019,827
Templeton Foreign Fund 34,220 346,438 340,484
Vanguard Index Trust Fund 8,378 512,124 754,594
Vanguard Wellington Fund 16,370 425,026 482,109
---------- ----------
2,437,368 2,976,227
---------- ----------
CERTIFICATES OF DEPOSIT
-----------------------
* Cambridge Savings Certificates of Deposit 902,720 902,720
* First Federal Washington Courthouse 18,577 18,577
---------- ----------
921,297 921,297
---------- ----------
U.S. TREASURY OBLIGATIONS
-------------------------
Fidelity U.S. Treasury Income Portfolio 118,300 118,300 118,300
---------- ----------
NOTE RECEIVABLE
---------------
* Participants' notes(2) 10%-10.5% - 51,106
---------- ----------
$4,037,535 $4,975,572
========== ==========
* Party-in-interest
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15
CAMCO FINANCIAL CORPORATION 401(k) SALARY SAVINGS PLAN
FORM 5500 E.I.N. 51-0110823
PLAN NO. - 002
ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
Year ended December 31, 1997
(a) (b) (c) (d) (e) (f)
IDENTITY OF EXPENSE
PARTY PURCHASE SELLING LEASE INCURRED WITH
INVOLVED DESCRIPTION OF ASSET PRICE PRICE RENTAL TRANSACTION
* Camco Financial Corporation Stock
Purchases $ 332,342 $ - $ - $ -
Sales - 19,070 - -
Fidelity Blue Chip Growth Fund
Purchases 258,480 - - -
Sales - 49,353 - -
Acorn Fund
Purchases 367,538 - - -
Sales - 18,174 - -
Templeton Foreign Fund
Purchases 221,828 - - -
Sales - 22,847 - -
Vanguard Index Trust Fund
Purchases 333,556 - - -
Sales - 14,821 - -
Vanguard Wellington Fund
Purchases 230,655 - - -
Sales - 25,298 - -
* Certificates of deposit
Purchases 559,575 - - -
Fidelity U.S. Treasury Income Portfolio
Purchases 2,835,200 - - -
Sales - 2,793,300 - -
(a) (b) (g) (h) (i)
CURRENT VALUE
IDENTITY OF OF ASSET ON
PARTY COST OF TRANSACTION NET GAIN
INVOLVED DESCRIPTION OF ASSET ASSET DATE OR (LOSS)
* Camco Financial Corporation Stock
Purchases $ 332,342 $ 332,342 $ -
Sales 20,202 19,070 (1,132)
Fidelity Blue Chip Growth Fund
Purchases 258,480 258,480 -
Sales 49,326 49,353 27
Acorn Fund
Purchases 367,538 367,538 -
Sales 18,589 18,174 (415)
Templeton Foreign Fund
Purchases 221,828 221,828 -
Sales 25,729 22,847 (2,882)
Vanguard Index Trust Fund
Purchases 333,556 333,556 -
Sales 15,082 14,821 (261)
Vanguard Wellington Fund
Purchases 230,655 230,655 -
Sales 25,667 25,298 (369)
* Certificates of deposit
Purchases 559,575 559,575 -
Fidelity U.S. Treasury Income Portfolio
Purchases 2,835,200 2,835,200 -
Sales 2,793,300 2,793,300 -
* Party-in-interest
15