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Delaware First Financial Corporation
Conversion
Valuation
Appraisal
Date Issued: September 18, 1997
Date of Market Prices: September 8, 1997
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Table of Contents
Delaware First Financial Corporation
Wilmington, Delaware
INTRODUCTION 1
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1. OVERVIEW AND FINANCIAL ANALYSIS 3
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GENERAL OVERVIEW 3
STRATEGIC DIRECTION 5
REGULATORY AGREEMENT 6
BALANCE SHEET TRENDS 7
LOAN PORTFOLIO 10
SECURITIES 13
INVESTMENTS AND MORTGAGE-BACKED SECURITIES 14
ASSET QUALITY 15
FUNDING COMPOSITION 18
ASSET/LIABILITY MANAGEMENT 21
NET WORTH AND CAPITAL 22
INCOME AND EXPENSE TRENDS 23
SUBSIDIARIES 27
LEGAL PROCEEDINGS 27
2. MARKET AREA ANALYSIS 28
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BRANCH FACILITIES 29
MARKET AREA DEMOGRAPHICS 30
MARKET AREA DEPOSIT CHARACTERISTICS 32
3. COMPARISONS WITH PUBLICLY TRADED THRIFTS 33
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INTRODUCTION 33
SELECTION SCREENS 33
SELECTION CRITERIA 35
COMPARABLE GROUP PROFILES 37
CORPORATE DATA 42
KEY FINANCIAL DATA 43
CAPITAL DATA 44
ASSET QUALITY DATA 45
PROFITABILITY DATA 46
INCOME STATEMENT DATA 47
GROWTH DATA 48
MARKET CAPITALIZATION DATA 49
DIVIDEND DATA 50
PRICING DATA 51
4. MARKET VALUE DETERMINATION 52
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INTRODUCTION 52
FINANCIAL STRENGTH 53
EARNINGS QUALITY, PREDICTABILITY AND GROWTH 55
MARKET AREA 59
MANAGEMENT 60
DIVIDENDS 61
LIQUIDITY OF THE ISSUE 62
SUBSCRIPTION INTEREST 63
RECENT REGULATORY MATTERS 64
MARKET FOR SEASONED THRIFT STOCKS 65
ACQUISITION MARKET 69
ADJUSTMENTS TO VALUE 74
VALUATION APPROACH 75
VALUATION CONCLUSION 78
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List of Figures
Delaware First Financial Corporation
Wilmington, Delaware
FIGURE 1 - CURRENT BRANCH LIST 3
FIGURE 2 - HISTORICAL TIMELINE 4
FIGURE 3 - ASSET AND RETAINED EARNINGS CHART 7
FIGURE 4 - AVERAGE YIELDS AND COSTS 8
FIGURE 5 - KEY BALANCE SHEET DATA 9
FIGURE 6 - KEY OPERATIONS DATA 9
FIGURE 7 - LOAN MIX AS OF JUNE 30, 1997 CHART 10
FIGURE 8 - NET LOANS RECEIVABLE CHART 11
FIGURE 9 - LOAN MIX 12
FIGURE 10 - SECURITIES CHART 13
FIGURE 11 - INVESTMENT MIX 14
FIGURE 12 - INVESTMENT PORTFOLIO MATURITY 14
FIGURE 13 - NON-PERFORMING ASSETS CHART 15
FIGURE 14 - NON-PERFORMING LOANS 16
FIGURE 15 - ALLOWANCE FOR POSSIBLE LOAN AND LEASE LOSSES CHART 17
FIGURE 16 - DEPOSIT MIX 18
FIGURE 17 - DEPOSIT AND BORROWING TREND CHART 19
FIGURE 18 - TIME DEPOSITS MATURITY SCHEDULE 20
FIGURE 19 - NPV ANALYSIS CHART 21
FIGURE 20 - CAPITAL ANALYSIS 22
FIGURE 21 - NET INCOME CHART 23
FIGURE 22 - SPREAD AND MARGIN CHART 24
FIGURE 23 - INCOME STATEMENT TRENDS 25
FIGURE 24 - PROFITABILITY TREND CHART 26
FIGURE 25 - TARGET MARKETS 28
FIGURE 26 - BRANCH FACILITY TABLE 29
FIGURE 27 - POPULATION & HOUSEHOLD DEMOGRAPHICS 30
FIGURE 28 - DEPOSIT TRENDS AND MARKET SHARE TABLE 32
FIGURE 29 - KEY FINANCIAL INDICATORS 40
FIGURE 30 - COMPARABLE CORPORATE DATA 42
FIGURE 31 - COMPARABLE KEY FINANCIAL DATA 43
FIGURE 32 - COMPARABLE CAPITAL DATA 44
FIGURE 33 - COMPARABLE ASSET QUALITY DATA 45
FIGURE 34 - COMPARABLE PROFITABILITY DATA 46
FIGURE 35 - COMPARABLE INCOME STATEMENT DATA 47
FIGURE 36 - COMPARABLE GROWTH DATA 48
FIGURE 37 - COMPARABLE MARKET CAPITALIZATION DATA 49
FIGURE 38 - COMPARABLE DIVIDEND DATA 50
FIGURE 39 - COMPARABLE PRICING DATA 51
FIGURE 40 - NET INCOME CHART 56
FIGURE 41 - SPREAD AND MARGIN CHART 57
FIGURE 42 - SNL THRIFT INDEX CHART 65
FIGURE 43 - HISTORICAL SNL INDEX 66
FIGURE 44 - EQUITY INDICES 67
FIGURE 45 - HISTORICAL RATES 68
FIGURE 46 - DEALS FOR LAST FIVE QUARTERS 69
FIGURE 47 - CURRENT THRIFT ACQUISITION MULTIPLES, PRICE TO BOOK 70
FIGURE 48 - CURRENT THRIFT ACQUISITION MULTIPLES, PRICE TO TANGIBLE BOOK 71
FIGURE 49 - THRIFT ACQUISITION MULTIPLES, PRICE TO EARNINGS 71
FIGURE 50 - CURRENT THRIFT ACQUISITION MULTIPLES, PRICE TO ASSETS 72
FIGURE 51 - CURRENT THRIFT ACQUISITION MULTIPLES, PRICE TO DEPOSITS 72
FIGURE 52 - DEAL MULTIPLES 73
FIGURE 53 - ACQUISITION TABLE 73
FIGURE 54 - VALUE RANGE OFFERING DATA 76
FIGURE 55 - COMPARABLE PRICING MULTIPLES 77
FIGURE 56 - RECENT STANDARD CONVERSION MULTIPLES 77
FIGURE 57 - ADJUSTED SUPERMAX TO RECENT CONVERSION COMPARISON 77
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[GRAPHIC OMITTED]
LIST OF EXHIBITS
DELAWARE FIRST FINANCIAL CORPORATION
WILMINGTON, DELAWARE
EXHIBIT
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1 CONSOLIDATED BALANCE SHEETS
2 CONSOLIDATED STATEMENTS OF INCOME
3 CONSOLIDATED STATEMENTS OF EQUITY
4 CONSOLIDATED STATEMENTS OF CASH FLOWS
5 SELECTED MARKET DATA - ALL PUBLIC THRIFTS
6 MARKET MULTIPLES - COMPARABLES
7 SELECT MARKET DATA - 1996-TO-DATE STANDARD CONVERSIONS
8 PROFORMA APPRAISAL CALCULATION - OFFERING CIRCULAR 6/30/97 UNADJUSTED DATA
9 PROFORMA APPRAISAL CALCULATION - OFFERING CIRCULAR 12/31/96 UNADJUSTED DATA
10 PROFORMA APPRAISAL CALCULATION - APPRAISAL 6/30/97 ADJUSTED DATA
11 PROFILE OF FINPRO, INC.
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[GRAPHIC OMITTED]
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Introduction
This report represents FinPro, Inc.'s ("FinPro") independent appraisal of the
estimated pro-forma market value of the common stock ( the "Common Stock") of
Ninth Ward Savings Bank (the "Bank" or "Ninth Ward") in connection with the Plan
of Conversion ("Conversion") of Ninth Ward from a federally chartered mutual
savings bank to a federally chartered stock savings bank. Pursuant to the Plan
of Conversion, (i) the Bank will convert from a federally chartered savings bank
organized in mutual form to a federally chartered savings bank organized in the
stock form, (ii) the Bank will offer and sell shares of its common stock in a
subscription and community offering.
It is our understanding that the Bank will offer its stock in a subscription and
community offering to the Bank's Eligible Account Holders, to Supplemental
Eligible Account Holders of the Bank, to Other Participants, to the board
members, officers and employees of the Bank, and to the community. This
appraisal has been prepared in accordance with Regulation 563b.7 and with the
"Guidelines for Appraisal Reports for the Valuation of Savings and Loan
Associations Converting from Mutual to Stock Form of Organization" of the Office
of Thrift Supervision ("OTS") which have been adopted in practice by the Federal
Deposit Insurance Corporation ("FDIC"), including the most recent revisions as
of October 21, 1994, and applicable regulatory interpretations thereof.
In the course of preparing our report, we reviewed the audited financial
statements of the Bank's operations for the six month period ended June 30, 1997
and the Bank's operations and financials for the prior two years ending December
31, 1996. We also reviewed the Bank's Application for Approval of Conversion
including the Proxy Statement and the Company's Form S-1 registration statement
as filed with the Securities and Exchange Commission ("SEC"). We have conducted
due diligence analysis of the Bank and the Company (hereinafter, collectively
referred to as "the Bank") and held due diligence related discussions with the
Bank's management and board, Deloitte & Touche LLP (the Bank's independent audit
firm), Trident Securities, Inc. (the Bank's underwriter), and Peabody & Brown
(the Bank's special counsel). The valuation parameters set forth in the
appraisal were predicated on these discussions but all conclusions related to
the valuation were reached and made independent of such discussions.
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Where appropriate, we considered information based upon other publicly available
sources, which we believe to be reliable; however, we cannot guarantee the
accuracy or completeness of such information. We visited the Bank's primary
market area and reviewed the market area economic condition. We also reviewed
the competitive environment in which the Bank operates and its relative
strengths and weaknesses. We compared the Bank's performance with selected
publicly traded thrift institutions. We reviewed conditions in the securities
markets in general and in the market for savings institutions in particular. Our
analysis included a review of the estimated effects of the Conversion on the
Bank, operation and expected financial performance as they related to the Bank's
estimated pro-forma value.
In preparing our valuation, we relied upon and assumed the accuracy and
completeness of financial and other information provided to us by the Bank and
its independent accountants. We did not independently verify the financial
statements and other information provided by the Bank and its independent
accountants, nor did we independently value any of the Bank's assets or
liabilities. This estimated valuation considers the Bank only as a going concern
and should not be considered as an indication of its liquidation value.
Our valuation is not intended, and must not be construed, to be a recommendation
of any kind as the advisability of purchasing shares of Common Stock in the
Conversion. Moreover, because such valuation is necessarily based upon estimates
and projections of a number of matters, all of which are subject to change from
time to time, no assurance can be given that persons who purchase shares of
Common Stock in the Conversion will thereafter be able to sell such shares at
prices related to the foregoing valuation of the pro-forma market value thereof.
FinPro is not a seller of securities within the meaning of any federal or state
securities laws and any report prepared by FinPro shall not be used as an offer
or solicitation with respect to the purchase or sale of any securities.
The estimated valuation herein will be updated as appropriate. These updates
will consider, among other factors, any developments or changes in the Bank
financial condition, operating performance, management policies and procedures,
and current conditions in the securities market for thrift institution common
stock. Should any such developments or changes, in our opinion, be material to
the estimated pro-forma market value of the Bank, appropriate adjustments to the
estimated pro-forma market value will be made. The reasons for any such
adjustments will be explained at that time.
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1. Overview and Financial Analysis
GENERAL OVERVIEW
The Bank after the Conversion, will be a federally chartered stock savings bank.
As of June 30, 1997, the Bank had $112.5 million in total assets, $78.4 million
in deposits, $92.9 million in net loans and $6.1 million in equity.
The following picture shows the Bank's branch as of June 30, 1997.
FIGURE 1 - CURRENT BRANCH LIST
Branch Office Town
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400 Delaware Avenue Wilmington
[PHOTO OMITTED]
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The Bank was formed as Ninth Ward Building & Loan Association in 1922.
Additional notable events include:
FIGURE 2 - HISTORICAL TIMELINE
1954 Changed name to Ninth Ward Savings and Loan Association.
1962 J. Bayard Cloud named president.
1982 Ronald P. Crouch named president.
1992 Converted to a federal charter and changed name to Ninth Ward
Savings Bank, FSB.
1994 Completely renovated bank office building.
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STRATEGIC DIRECTION
The Bank has been a community oriented institution. The principal sources of
funds for activities are deposits, payments on loans and borrowings from the
FHLB of Pittsburgh. These funds are used principally for the origination of
loans secured by first mortgages on one-to-four-family residences which are
located in the market area. Such loans totaled $82.6 million, or 88.94%, of the
total loan portfolio at June 30, 1997. The principal source of revenue is the
interested receive on loans and the principal expense is the interest paid on
deposits and FHLB advances.
The net proceeds from the sale of Common Stock will substantially increase the
capital of the Bank. It is anticipated that the Holding Company will retain 25%
of the net proceeds from the issuance of the Common Stock as its initial
capitalization and will use the balance of the net Conversion proceeds to
purchase all of the common stock of the Bank to be issued upon conversion.
The Bank's net proceeds will become part of the Bank's general funds for use in
its business, subject to applicable regulatory restrictions. Specifically, the
net proceeds will be utilized to invest in short term U.S. Treasuries. The
portion of the net proceeds retained by the Holding Company initially will be
used to lend to the Bank or to invest in U.S. Government and Federal Agency
securities. Ultimately the funds may be used to support the future expansion of
operations through acquisitions of other financial service organizations, such
as other mutual or stock savings institutions and commercial banks,
diversification into other related businesses and for other business and
investment purposes (although no such transactions are specifically being
considered at this time), including the possible payment of dividends, excess
capital distribution and repurchases of Common Stock. Additionally, net proceeds
will be utilized to purchase or lease additional branch facilities outside of
the City of Wilmington and to leverage, or grow the Bank in total assets.
As such, the Bank's major thrusts over a five-year horizon are as follows:
1. Converting to a stock institution to raise capital to fund growth
opportunities and strengthen the capital position of the Bank;
2. Planned core business growth of the Bank;
3. Open de-novo branches, one in the near term;
4. Change in the loan mix toward commercial lending and home equity
products;
5. Change of the funding mix toward core deposits and away from
borrowings and time deposits.
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REGULATORY AGREEMENT
The Bank entered into a supervisory agreement with the Office of Thrift
Supervision on May 21, 1997. The Bank must perform the following tasks in order
to satisfy the agreement:
o Compile a three year written business plan (this has been completed)
1. The Plan and its implementation by management shall be review by
the Board and updated at least annually.
2. The Bank shall obtain assistance of independent consultants to
assist in the formulation of the Business Plan.
o The Board shall implement and periodically review the Bank's interest
rate risk policies. This policies shall be designed to significantly
reduce the Bank's level of interest rate risk.
o The Board shall establish procedures governing meetings of the Board.
Minutes of the Board meets shall be accurate and contain sufficient
detail to record votes, deliberations of, and actions of the Board.
Board member must be provided sufficient information to make informed
judgments about their responsibilities to oversee the performance of
the institutions.
o The Bank shall provide written notice at least 30 days prior to
changes to its directors of executive staff to the OTS. The Bank shall
not enter into, renew or extend the contractual arrangement related to
compensation or benefits with any director senior executive officer
without providing 30 days written notice to the OTS and receiving a
written notice of non-objection from the regional director.
It is anticipated that this agreement will remain in effect throughout the
course of the IPO.
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BALANCE SHEET TRENDS
The asset size of the Bank has increased since December 31, 1995, at which time
the Bank had assets of $97.4 million. Since that time, assets have grown $15.2
million, or 15.58%, to $112.5 million at June 30, 1997. Retained earnings have
grown a diminimus amount, from $6.06 million at December 31, 1995 to $6.09
million at June 30, 1997, or 0.40%.
FIGURE 3 - ASSET AND RETAINED EARNINGS CHART
[GRAPHIC OMITTED]
Source: Offering Prospectus
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Both spread and margin have decreased for the six month period ending June 30,
1997, when compared to the same six month period ending June 30, 1996.
FIGURE 4 - AVERAGE YIELDS AND COSTS
Six Months Ended June 30,
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1997 1996
--------------------------------- ---------------------------------
Average Interest Average Interest
Outstanding Earned/ Yield/ Outstanding Earned/ Yield/
Balance Paid Rate Balance Paid Rate
----------- -------- ------ ----------- -------- ------
(Dollars in Thousands)
Assets:
Interest-earning assets
Loans receivable net $ 99,011,640 $3,797,982 7.74% $ 83,836,933 $3,346,748 8.05%
Investment securities 7,963,438 222,602 5.64% 12,943,599 364,433 5.68%
Interest-bearing deposits 2,216,029 51,774 4.71% 2,342,926 51,466 4.43%
------------ ---------- ---- ------------ ---------- ----
Total interest-earning assets 109,191,107 4,072,358 7.52% 99,123,458 3,762,647 7.66%
Non-interest earning assets 3,779,984 3,568,488
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Total assets $112,971,091 $102,691,946
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Liabilities:
Interest-bearing liabilities:
Deposits $ 78,725,866 2,196,245 5.63% $ 81,604,579 2,276,637 5.63%
Advances from FHLB 25,370,166 780,646 6.21% 12,614,174 364,473 5.97%
------------ ---------- ---- ------------ ---------- ----
Total interest-bearing liabilities 104,096,032 2,976,891 5.77% 93,918,753 2,641,110 5.67%
---------- ----------
Non-interest bearing liabilities 2,563,029 2,454,502
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Total liabilities 106,659,061 96,373,255
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Equity 6,312,030 6,318,691
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Total liabilities and equity $112,971,091 $102,691,946
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Net interest-earning spread $1,095,467 1.75% $1,121,537 1.99%
========== ==== ========== ====
Margin 2.01% 2.26%
==== ====
Interest-earning assets to
interest-bearing liabilities 104.89% 105.54%
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FIGURE 4 - AVERAGE YIELDS AND COSTS (Continued)
Year Ended December 31,
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1996 1995
--------------------------------- ---------------------------------
Average Interest Average Interest
Outstanding Earned/ Yield/ Outstanding Earned/ Yield/
Balance Paid Rate Balance Paid Rate
----------- -------- ------ ----------- -------- ------
(Dollars in Thousands)
Assets:
Interest-earning assets
Loans receivable net $ 91,051,307 $7,092,065 7.79% $ 78,025,302 $6,408,566 8.21%
Investment securities 12,644,840 709,493 5.61% 13,455,339 763,764 5.68%
Interest-bearing deposits 2,412,209 120,551 5.00% 1,717,488 120,417 7.01%
------------ ---------- ---- ------------ ---------- ----
Total interest-earning assets 106,118,356 7,922,109 7.47% 93,198,129 7,292,747 7.83%
Non-interest earning assets 3,621,634 3,268,610
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Total assets $109,739,990 $ 96,466,739
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Liabilities:
Interest-bearing liabilities:
Deposits $ 80,199,223 4,497,657 5.61% $ 77,715,774 4,351,008 5.60%
Advances from FHLB 20,868,039 1,252,482 6.00% 10,957,934 704,133 6.43%
------------ ---------- ---- ------------ ---------- ----
Total interest-bearing liabilities 101,067,272 5,750,139 5.69% 88,673,708 5,055,141 5.70%
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Non-interest bearing liabilities 2,386,544 1,776,907
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Total liabilities 103,453,816 90,450,615
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Equity 6,286,174 6,016,124
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Total liabilities and equity $109,739,990 $ 96,466,739
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Net interest-earning spread $2,171,970 1.78% $2,237,606 2.13%
========== ==== ========== ====
Margin 2.05% 2.40%
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Interest-earning assets to
interest-bearing liabilities 105.00% 105.10%
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Source: Offering Prospectus
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The following tables set forth certain information concerning the financial
position of the Bank along with operations data at the dates indicated.
FIGURE 5 - KEY BALANCE SHEET DATA
June 30, December 31,
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1997 1996 1995
---- ---- ----
Total assets $112,544,699 $112,683,218 $97,377,204
Investment securities, net 5,992,005 6,475,800 11,488,192
Mortgage-backed securities 190,414 203,147 698,669
Interest-bearing deposits 2,668,566 2,456,294 783,808
Noninterest-bearing securities 169,649 187,158 277,048
Loans receivable, net 92,919,385 98,042,118 78,835,306
Loans held for sale 5,547,674 -- 1,020,000
Deposits 78,351,363 78,408,793 81,522,249
Total borrowings 25,200,000 25,900,000 7,950,000
Retained earnings - substancially restricted 6,086,942 5,957,589 6,062,906
Source: Offering Prospectus
FIGURE 6 - KEY OPERATIONS DATA
Six Month's Ending Twelve Month's Ending
June 30, December 31,
----------------------- -----------------------
Selected Operations Data 1997 1996 1996 1995
- ------------------------ ---- ---- ---- ----
Total interest income $4,072,358 $3,762,647 $7,922,109 $7,292,747
Total interest expense 2,976,891 2,641,110 5,750,139 5,055,141
---------- ---------- ---------- ----------
Net interest income 1,095,467 1,121,537 2,171,970 2,237,606
Provision for loan losses 10,000 26,000 47,000 5,000
---------- ---------- ---------- ----------
Net interest income after provision for loan loss 1,085,467 1,095,537 2,124,970 2,232,606
Gain on sales of securities 16,632 48,766 68,629 438,970
Other non-interest income 68,281 108,504 236,147 81,229
---------- ---------- ---------- ----------
Total non-interest income 84,913 157,270 304,776 520,199
Total non-interest expense 960,575 1,181,961 2,593,287 2,068,211
---------- ---------- ---------- ----------
Income before taxes 209,805 70,846 (163,541) 684,594
Income tax provision 88,000 30,000 (69,000) 264,670
---------- ---------- ---------- ----------
Net income $ 121,805 $ 40,846 $ (94,541) $ 419,924
========== ========== ========== ==========
Source: Offering Prospectus
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LOAN PORTFOLIO
All of the Bank's loans are single family residential loans or are backed by
single family residential collateral. The Bank's loan portfolio is one
dimensional.
FIGURE 7 - LOAN MIX AS OF JUNE 30, 1997 CHART
[GRAPHIC OMITTED]
Source: Offering Prospectus
Conversion Valuation Appraisal Report Page: 1 - 11
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Loans have grown from $78.8 million at December 31, 1995, to $92.9 million at
June 30, 1997, which translates into growth of 17.87% over that period. The Bank
maintained a net loans to assets ratio in excess of 80.00% at June 30, 1997.
FIGURE 8 - NET LOANS RECEIVABLE CHART
[GRAPHIC OMITTED]
Source: Offering Prospectus
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The Bank's loan mix is one dimensional.
FIGURE 9 - LOAN MIX
June 30, 1997 December 31, 1996 December 31, 1995
----------------------------- ----------------------------- -----------------------------
Amount Percent of Total Amount Percent of Total Amount Percent of Total
------ ---------------- ------ ---------------- ------ ----------------
Real estate loans:
Residential mortgage $82,625,969 88.92% $87,918,256 89.67% $67,937,470 86.18%
----------- ------ ----------- ------ ----------- ------
Total real estate loans $82,625,969 88.92% $87,918,256 89.67% $67,937,470 86.18%
Other loans:
Deposit account $ 710,275 0.76% $ 528,198 0.54% $ 839,344 1.06%
Home equity loans $ 7,942,666 8.55% $ 8,082,865 8.24% $ 8,387,260 10.64%
Equity lines of credit $ 2,963,299 3.19% $ 2,823,273 2.88% $ 2,753,989 3.49%
----------- ------ ----------- ------ ----------- ------
Total other loans $11,616,240 12.50% $11,434,336 11.66% $11,980,593 15.20%
Less:
Unamortized fees $ 1,065,824 1.15% $ 1,063,474 1.08% $ 882,757 1.12%
Allowance for loan losses $ 257,000 0.28% $ 247,000 0.25% $ 200,000 0.25%
----------- ----------- -----------
Total loans, net $92,919,385 100.00% $98,042,118 100.00% $78,835,306 100.00%
=========== =========== ===========
Source: Offering Prospectus
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SECURITIES
The combined investment and mortgage-backed security portfolio has declined $6
million or 49.27%, since December 31, 1995. The mix has shifted away from agency
securities.
FIGURE 10 - SECURITIES CHART
[GRAPHIC OMITTED]
Source: Offering Prospectus
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INVESTMENTS AND MORTGAGE-BACKED SECURITIES
The Bank's investment portfolio has declined from $12.9 million at December 31,
1995 to $7.5 million at June 30, 1997. The mix has shifted away from agency
securities and toward U.S. Treasuries, which now comprise 26.64% of the
portfolio, as opposed to 11.60% at December 31, 1995.
FIGURE 11 - INVESTMENT MIX
June 30, December 31,
---------------------- ---------------------------------------------
1997 1996 1995
---------------------- --------------------- ---------------------
Carrying Percentage Carrying Percentage Carrying Percentage
Value of Total Value of Total Value of Total
-------- ---------- -------- ---------- -------- ----------
Federal Farm Credit Bank $ -- 0.00% $ -- 0.00% $ 3,499,715 27.10%
Federal Home Loan Bank 1,993,885 26.53% 2,484,465 30.38% 2,490,745 19,29%
Federal Home Loan Mortgage Corporation 500,065 6.65% 499,500 6.11% 1,500,000 11.61%
Federal National Mortgage Association 497,675 6.62% 495,805 6.06% 1,000,000 7.74%
Student Loan Market Association 998,190 13.28% 992,510 12.13% 1,500,000 11.61%
U.S. Treasuries 2,002,190 26.64% 2,003,520 24.50% 1,497,732 11.60%
---------- ------ ---------- ------ ----------- ------
Total Investment Securities 5,992,005 79.73% 6,475,800 79.18% 11,488,192 88.96%
========== ========== ===========
Mortgage-backed securities 190,414 2.53% 203,147 2.48% 698,669 5.41%
Federal Home Loan Bank stock, at cost 1,332,500 17.73% 1,500,000 18.34% 727,500 5.63%
---------- ------ ---------- ------ ----------- ------
Total $7,514,919 100.00% $8,178,947 100.00% $12,914,361 100.00%
========== ========== ===========
Source: Offering Prospectus
FIGURE 12 - INVESTMENT PORTFOLIO MATURITY
One Year or Less One to Five Years Total Investment Securities
--------------------------- -------------------------- ---------------------------
Annualized Annualized Annualized
Carrying Weighted Carrying Weighted Carrying Weighted
Value Ave. Yield Value Ave. Yield Value Ave. Yield
-------- ---------- -------- ---------- -------- ----------
Government agencies $5,992,005 5.36% $ -- N/A $5,992,005 5.36%
Mortgage-backed Securities -- N/A 190,414 7.01% 190,414 7.01%
FHLB stock 1,332,500 6.38% -- N/A 1,332,500 6.38%
---------- ---- -------- ---- ---------- ----
Total $7,324,505 5.54% $190,414 7.01% $7,514,919 5.58%
========== ==== ======== ==== ========== ====
Source: Offering Prospectus
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ASSET QUALITY
Non-performing loans, as defined in the offering prospectus, have increased from
$244 thousand at December 31, 1995 to $327 thousand at June 30, 1997. The Bank
currently does not have any REO. The Bank's nonperforming assets to period end
assets ratio was 0.29% at June 30, 1997.
FIGURE 13 - NON-PERFORMING ASSETS CHART
[GRAPHIC OMITTED]
Source: Offering Prospectus
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FIGURE 14 - NON-PERFORMING LOANS
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At June 30, 1997
($ in thousands)
- --------------------------------------------------------------------------------
Non-performing loans $327
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Real estate owned, net $ 0
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Total non-performing assets $327
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Non-performing loans as a percentage of total loans 0.35%
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Non-performing assets to total assets 0.29%
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Source: Offering Prospectus
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The Bank has grown its allowance for loan and lease losses from $200 thousand at
December 31, 1995 to $257 thousand at June 30, 1997. ALLL to non-performing
assets is 78.59% as of June 30, 1997.
FIGURE 15 - ALLOWANCE FOR POSSIBLE LOAN AND LEASE LOSSES CHART
[GRAPHIC OMITTED]
Source: Offering Prospectus
Conversion Valuation Appraisal Report Page: 1 - 18
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FUNDING COMPOSITION
The Bank's deposit mix as for June 30, 1997 and the prior two fiscal years is
presented below.
FIGURE 16 - DEPOSIT MIX
At June 30, 1997 At December 31, 1996 At December 31, 1995
----------------------------- ----------------------------- -----------------------------
Weighted Weighted Weighted
Percent Average Percent Average Percent Average
Deposits by Rate Amount of Total Rate Amount of Total Rate Amount of Total Rate
- ---------------- ------ -------- -------- ------ -------- -------- ------ -------- --------
Passbook Accounts $ 2,537 3.24% 4.14% $ 2,536 3.24% 4.14% $ 2,867 3.66% 4.14%
Money Market Accounts 8,904 11.36% 3.37% 8,246 10.52% 3.35% 8,725 11.14% 3.17%
IRA Accounts 11,750 15.00% 6.52% 12,073 15.41% 6.47% 12,507 15.96% 6.89%
Certificates of Deposit:
Less than 1 year 8,528 10.88% 5.52% 9,962 12.71% 5.46% 10,375 13.24% 5.57%
1 to 3 years 34,163 43.60% 5.92% 33,194 42.37% 5.83% 34,265 43.73% 6.21%
More than 3 years 11,344 14.48% 6.46% 11,517 14.70% 6.46% 12,193 15.56% 6.64%
Checking and Other 1,125 1.44% 2.05% 881 1.12% 2.05% 590 0.75% 2.05%
------- ------ ---- ------- ------ ---- ------- ------ ----
Total Deposits $78,351 100.00% 5.64% $78,409 100.00% 5.62% $81,522 100.00% 5.87%
======= ====== ==== ======= ====== ==== ======= ====== ====
Source: Offering Prospectus
The June 30, 1997 cost of deposits, 5.64%, is below the cost of 5.87% in
December 31, 1995.
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Total deposits have declined $3.2 million or 3.89% since December 31, 1995.
Borrowings have grown from $8.0 million at December 31, 1995 to $25.2 million at
June 30, 1997.
FIGURE 17 - DEPOSIT AND BORROWING TREND CHART
[GRAPHIC OMITTED]
Source: Offering Prospectus
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FIGURE 18 - TIME DEPOSITS MATURITY SCHEDULE
Time Deposits Maturity Schedule June 30, 1998 June 30, 1999 June 30, 2000 June 30, 2001 Total
- ------------------------------- ------------- ------------- ------------- ------------- -----
Certificate accounts maturing
2.00 to 4.00% $ -- $ 5,377 $ -- $ -- $ 5,377
4.01 to 6.00% 41,603,352 7,598,587 691,265 3,022,847 52,916,051
6.01 to 8.00% 2,596,052 1,690,307 7,967,315 610,357 12,864,031
8.01 to 10.00% -- -- -- -- --
10.01 to 12.00% -- -- -- -- --
----------- ---------- ---------- ---------- -----------
$44,199,404 $9,294,271 $8,658,580 $3,633,204 $65,785,459
=========== ========== ========== ========== ===========
The Bank's certificates are weighted toward the short term with $44.2 million,
or 67.19%, maturing within one year.
Source: Offering Prospectus
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ASSET/LIABILITY MANAGEMENT
The Bank manages its interest rate risk through normal balance sheet activities
and does not utilize any hedging techniques. The following chart was calculated
by the OTS utilizing the June 30, 1997 TFR as a data source.
FIGURE 19 - NPV ANALYSIS CHART
[GRAPHIC OMITTED]
Source: Calculated by the OTS, June 30, 1997 data.
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NET WORTH AND CAPITAL
At June 30, 1997, the Bank had capital in excess of the minimum requirements for
all three measures.
FIGURE 20 - CAPITAL ANALYSIS
At Percent of
Regulatory Capital Position June 30,1997 Adj. Assets
--------------------------- -------------- -----------
$ in thousands
GAAP Capital $6,087 5.41%
====== ====
Tangible Capital:
Capital Level $6,058 5.38%
Required $1,688 1.50%
------ ----
Excess: $4,370 3.88%
====== ====
Core Capital:
Capital Level $6,058 5.38%
Required $3,375 3.00%
------ ----
Excess: $2,683 2.38%
====== ====
Risk- Based Capital:
Capital Level $6,315 10.28%
Required $4,916 8.00%
------ ----
Excess: $1,399 2.28%
====== ====
Source: Offering Prospectus
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INCOME AND EXPENSE TRENDS
The chart below shows the Bank's net income for the past two fiscal years plus
the six month period ending June 30, 1997. The December 31, 1996, net loss of
($95) thousand is skewed due to the one-time SAIF assessment of $492 thousand.
FIGURE 21 - NET INCOME CHART
[GRAPHIC OMITTED]
Source: Offering Prospectus
Note 1: The December 31, 1996 loss of $95 thousand is skewed due to the
one-time SAIF assessment of $492 thousand. When adjusted for this
one-time event (tax impacted at 40%) the Bank's December 31, 1996
income number would be $200 thousand.
Note 2: June 1997 data is for the six month period and is not annualized. The
annualized 1997 net income would be $244 thousand.
Conversion Valuation Appraisal Report Page: 1 - 24
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Spread and margin have declined since December 31, 1995, as shown in the
following chart.
FIGURE 22 - SPREAD AND MARGIN CHART
[GRAPHIC OMITTED]
Source: Offering Prospectus
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A summary of the Bank's income statement is presented below. Net income for the
six month period ending June 30, 1997 is higher than net income for the same six
month period ending June 30, 1996. The figures for the year ended December 31,
1996, are skewed due to the $492 thousand SAIF assessment.
FIGURE 23 - INCOME STATEMENT TRENDS
Six Months Year Ended
Ended June 30, December 31,
----------------------- -----------------------
1997 1996 1996 1995
---- ---- ---- ----
Total interest Income $4,072,358 $3,762,647 $7,922,109 $7,292,747
Total interest Expense 2,976,891 2,641,110 5,750,139 5,055,141
---------- ---------- ---------- ----------
Net interest income 1,095,467 1,121,537 2,171,970 2,237,606
Provision for loan losses 10,000 26,000 47,000 5,000
---------- ---------- ---------- ----------
Net interest income after
provision for loan losses 1,085,467 1,095,537 2,124,970 2,232,606
Gain (loss) on sale of investments, net 16,632 48,766 68,629 438,970
Other income, net 68,281 108,504 236,147 81,229
General & administrative expenses 960,575 1,181,961 2,593,287 2,068,211
---------- ---------- ---------- ----------
Income (loss) before income taxes and
extraordinary items 209,805 70,846 (163,541) 684,594
Income taxes (benefit) 88,000 30,000 (69,000) 264,670
Extraordinary gain (loss) -- -- -- --
---------- ---------- ---------- ----------
Net income $ 121,805 $ 40,846 $ (94,541) $ 419,924
========== ========== ========== ==========
Source: Offering Prospectus
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The ROA and ROE data shown below is not adjusted for the one-time SAIF
assessment and the June 1997 data is for the six month period annualized.
FIGURE 24 - PROFITABILITY TREND CHART
[GRAPHIC OMITTED]
Source: Offering Prospectus
Note: The December 31, 1996 ROA and ROE are skewed due to the one-time SAIF
assessment of $492 thousand. If the December 31, 1996 income were
adjusted for this one-time event (tax impacted at 40%) the Bank's ROA
and ROE would be 0.18% and 3.18%, respectively.
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SUBSIDIARIES
The Bank has no subsidiaries.
LEGAL PROCEEDINGS
The Bank is not currently involved in any legal proceedings other than routine
legal proceedings that occur in the ordinary course of business, which, in
aggregate, involve amounts that are believed to be immaterial to the financial
condition of the Bank.
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2. Market Area Analysis
For presentation purposes, market area has been defined as a 1.5 mile radius
around the Bank's branch facility. Data for each demographic element (using a
1.5 mile radius) is aggregated for the market area around the branch and
displayed in comparison to a 3 and 5 mile radius. The Bank's market is defined
as follows (note that only portions of the communities/towns may be included in
the radius markets):
FIGURE 25 - TARGET MARKETS
- --------------------------------------------------------------------------------
Market Communities / Towns
- --------------------------------------------------------------------------------
City of Wilmington, New Castle County Wilmington
- --------------------------------------------------------------------------------
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BRANCH FACILITIES
The Bank operates one branch located at 400 Delaware Avenue in Wilmington, which
also serves as the main office.
FIGURE 26 - BRANCH FACILITY TABLE
Branch Office Owned/Leased
- --------------------------------------------------------------------------------
400 Delaware Avenue Owned
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MARKET AREA DEMOGRAPHICS
For presentation purposes, market areas have been defined as a 1.5 mile radius
around the Bank's branch facility. Data for each demographic element is
aggregated for the market area around the branch and displayed in comparison a 3
and 5 mile radius (note that only portions of the communities/towns may be
included in the radius markets):
FIGURE 27 - POPULATION & HOUSEHOLD DEMOGRAPHICS
1.5 Mile Radius 3.0 Mile Radius 5.0 Mile Radius
--------------- --------------- ---------------
Population by Race
White 37.27% 50.13% 65.18%
Black 56.59% 45.26% 31.12%
Hispanic 8.46% 6.31% 4.86%
Asian & P.I. 0.41% 0.65% 0.94%
Other 5.72% 3.96% 2.76%
Households by income
Under $5.000 6.09% 6.45% 6.82%
$5,000 to $14,999 6.20% 7.11% 7.87%
$15,000 to $24,999 8.07% 8.67% 9.91%
$25,000 to $34,999 18.15% 19.91% 21.77%
$35,000 to $49,999 16.30% 17.11% 17.28%
$50,000 to S74,999 11.43% 11.55% 11.38%
$75,000 to $99,999 12.80% 12.08% 10.94%
$100,000 or more 16.06% 13.48% 11.12%
1997 Est. Average Household Income $60,582 $64,467 $68,424
1997 Est. Median Household Income $39,424 $43,104 $46,853
1997 Est. Per Capita Income $24,895 $26,613 $27,716
Population by Sex
Male 46.60% 46.80% 47.56%
Female 53.40% 53.20% 52.44%
Population by age
Under 5 years 7.14% 6.84% 6.59%
5 to 14 14.26% 13.57% 13.28%
15 to 24 12.12% 11.28% 10.85%
25 to 34 17.29% 16.64% 15.29%
35 to 39 8.74% 8.56% 8.49%
40 to 49 13.53% 14.23% 14.56%
50 to 64 11.61% 12.48% 13.98%
65 to 74 7.68% 8.66% 9.59%
75+ 7.64% 7.74% 7.37%
median age 34.54 35.97 37.36
average age 36.80 37.90 38.70
Population
2002 Projection 66,460 109,953 186,952
1997 Estimate 65,662 110,667 189,873
Population 1990 63,931 110,071 190,702
Population 1980 62,302 111,451 197,383
Growth 1980 - 1990 2.61% -1.24% -3.38%
Occupied Units
Owner Occupied 51.38% 58.49% 67.20%
Renter Occupied 48.62% 41.51% 32.80%
1990 Average Persons Per HH 2.45 2.46 2.52
Per Capita Income $24.895 $26,613 $27,716
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FIGURE 27 - POPULATION & HOUSEHOLD DEMOGRAPHICS (Continued)
1.5 Mile Radius 3.0 Mile Radius 5.0 Mile Radius
--------------- --------------- ---------------
Population 16+ by Occupation
Executive & Managerial 11.96% 12.61% 13.20%
Professional Specialty 12.94% 12.95% 13.86%
Technical Support 3.61% 4.06% 4.29%
Sales 8.59% 9.25% 10.37%
Administrative Support 19.61% 20.43% 20.30%
Service: Private Household 0.94% 0.67% 0.49%
Service: Protective 2.63% 2.29% 1.97%
Service: Other 17.42% 14.69% 12.21%
Farming Forestry & Fishing 0.89% 0.92% 0.84%
Precision Production & Craft 8.06% 8.83% 9.85%
Machine Operator 5.22% 5.43% 5.12%
Trans. & Material Moving 3.42% 3.51% 3.55%
Laborers 4.71% 4.34% 3.96%
Average Commuting Time
Less than 10 minutes 16.51% 15.86% 16.37%
10 to 29 minutes 65.58% 66.19% 65.77%
30 to 59 minutes 15.40% 15.20% 15.08%
60 to 89 minutes 2.32% 2.43% 2.36%
90 + minutes 0.18% 0.32% 0.42%
Population by Education Level
Elementary 10.88% 9.38% 7.89%
Some High School 22.77% 19.84% 17.29%
High School Graduate 29.29% 30.60% 31.22%
Some College 14.15% 15.11% 16.02%
Associates Degree Only 4.85% 5.46% 5.75%
Bachelors Degree Only 11.75% 12.42% 13.55%
Graduate Degree 6.32% 7.19% 8.28%
Housing Units by Occupancy Status
Occupied 90.83% 92.27% 93.68%
Vacant 9.17% 7.73% 6.32%
Vacant Units
For Rent 36.76% 39.33% 40.58%
For Sale Only 20.08% 21.05% 21.52%
Seasonal 1.78% 2.54% 3.21%
Other 41.38% 37.08% 34.69%
Owner Occupied Property Values
Less than $100,000 75.66% 67.68% 55.72%
$100 - $200,000 18.71% 22.67% 32.49%
$200 - $300,000 3.17% 5.23% 6.98%
$300 - $400,000 1.09% 2.01% 2.59%
$400 - $500.000 0.76% 1.35% 1.24%
More than $500,000 0.61% 1.05% 0.97%
Distribution by Age of Unit - 1990
1 Yr or less 1.12% 0.93% 0.73%
2-5 Yrs 3.87% 3.42% 2.99%
6-10 Yrs 5.31% 4.14% 3.26%
11-20 Yrs 7.19% 6.98% 8.10%
21-30 Yrs 9.68% 11.59% 15.45%
31-40 Yrs 10.56% 18.58% 25.16%
41-50 Yrs 13.51% 17.71% 17.66%
More than 50 Yrs 48.77% 36.66% 26.65%
Households
2002 projection 27,272 45,774 76,976
1997 estimate 26,413 44,838 75,638
1990 25,401 43,817 74,099
1980 23,816 42,217 71,871
Growth 1980 - 1990 10.90% 6.21% 5.24%
Persons per household
One 36.74% 33.02% 28.01%
Two 26.33% 29.14% 31.66%
Three 14.69% 15.74% 16.86%
Greater than or Equal to Four 22.24% 22.10% 23.47%
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MARKET AREA DEPOSIT CHARACTERISTICS
As the following table and charts illustrate, total deposits in the City of
Wilmington market have increased by 49.63% in this market over the last three
years. The Bank had a market share of 0.67% at June 30, 1996 and has experienced
an increase of 12.61% in deposits over the last three years. However, this data
is obviously skewed by the inclusion of MBNA, a credit card bank, with one
branch and over $8.8 billion in deposits.
FIGURE 28 - DEPOSIT TRENDS AND MARKET SHARE TABLE
($ in 000's)
Competition - Wilmington Market Share
Total Mkt Share $ Growth % Growth Avg Branch
Institution 1996 1996 1994-1996 1994-1996 1996 Count
- -------------------------------------------------------------------------------------------------
Artisans' Savings Bank 55.9 0.47% -8.0 -12.46% 55.9 1
Beneficial NB 236.4 2.00% 52.7 28.68% 78.8 3
Berkeley Federal B&T 0.0 0.00% -14.4 -100.00% 0.0 0
Delaware Savings 46.9 0.40% 29.2 164.80% 46.9 1
Delaware Transit EFCU 0.5 0.00% -0.4 -41.11% 0.5 1
Delaware Trust 219.1 1.85% -65.2 -22.92% 73.0 3
Dexsta FCU 69.4 0.59% 8.6 14.06% 69.4 1
Fed. Employ. of New Castle FCU 2.2 0.02% 0.1 6.71% 2.2 1
First Union Bank of Delaware 23.0 0.19% -9.1 -28.38% 23.0 1
Hercules FCU 10.1 0.09% -2.1 -16.89% 10.1 1
MBNA America Bank 8,835.3 74.75% 3,740.1 73.40% 8,835.3 1
Mellon Bank 174.9 1.48% 69.1 65.26% 58.3 3
Ninth Ward Savings Bank 79.4 0.67% 8.9 12.61% 79.4 1
PNC Bank 570.5 4.83% -14.5 -2.48% 95.1 6
PSA FCU 1.3 0.01% 0.1 8.33% 1.3 1
Second National 0.0 0.00% -22.2 -100.00% 0.0 0
Sovereign Bank 15.0 0.13% 15.0 100.00% 15.0 1
Wildupco FCU 6.4 0.05% -1.1 -14.80% 6.4 1
Wilmington Postal FCU 6.7 0.06% -0.7 -9.86% 6.7 1
Wilmington Savings Fund Society 263.3 2.23% 74.2 39.23% 87.8 3
Wilmington Teachers FCU 2.3 0.02% 0.0 -0.87% 2.3 1
Wilmington Trust Co 1,171.7 9.91% 62.3 5.62% 195.3 6
First Home Savings Bank 17.9 0.15% -1.3 -6.77% 17.9 1
NVF Company EFCU 0.3 0.00% 0.0 -10.00% 0.3 1
WS EDL FCU 4.8 0.04% -0.7 -13.09% 4.8 1
Wilmington Police & Fire FCU 6.1 0.05% -0.2 -3.33% 6.1 1
=================================================================================================
Total 11,819.2 100.00% 3,920.3 49.63% 281.4 42
Source: Equifax, data
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3. Comparisons With Publicly Traded Thrifts
INTRODUCTION
This chapter presents an analysis of the Bank's operations against a Comparable
Group of publicly traded savings institutions. The Comparable Group ("Comparable
Group") was selected from a universe of 409 public thrifts as of September 8,
1997. The Comparable Group was selected based upon similarity of characteristics
to the Bank. The Comparable Group multiples provide the basis for the fair
market valuation of the Bank. Factors that influence the Bank's value such as
balance sheet structure and size, profitability, income and expense trends,
capital levels, credit risk, interest rate risk and recent operating results can
be measured against the Comparable Group. The Comparable Group current market
pricing, coupled with the appropriate adjustments for differences between the
Bank and the Comparable Group, will then be utilized as the basis for the
pro-forma valuation of the Bank to-be-issued common stock.
SELECTION SCREENS
The selection screens utilized to identify possible Comparables from the list of
409 public thrifts at September 8, 1997 included:
1. The institution had to be traded on either the NYSE, AMEX or NASDAQ to
ensure liquidity. This eliminated tightly held and "pink sheet"
organizations who lack liquidity.
2. The IPO date had to be on or before June 30, 1996, eliminating any new
conversions.
3. The total asset size had to be greater than or equal to $50 million and
less than or equal to $150 million.
4. The Conversion had to be a full standard conversion.
5. The institution had to be located in the New England, Mid-Atlantic,
Southeast or Mid-West region.
6. The price to tangible book had to be less than 160%, to eliminate thrifts
whose price is artificially inflated due to merger speculation.
Conversion Valuation Appraisal Report Page: 1 - 34
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7. The return on average equity had to be less than or equal to 6.00%, to
eliminate thrifts with substantially better operating data.
Utilizing these screens, the 409 possibilities were narrowed down to 26
candidates. After scanning these candidates the following 15 institutions were
eliminated from the Comparable Group for the reasons shown:
Ticker Short Name City State
--------------------------------------------------------------------
Merger and Aquisition
---------------------
MFCX Marshalltown Financial Corp. Marshalltown IA
Loan to asset ratio less than 60%
---------------------------------
FCB Falmouth Co-Operative Bank Falmouth MA
GWBC Gateway Bancorp Inc. Catlettsburg KY
NSLB NS&L Bancorp Inc. Neosho MO
SRN Southern Banc Company Inc. Gadsden AL
TPNZ Tappan Zee Financial Inc. Tarrytown NY
More than 3 branches
--------------------
CCFH CCF Holding Company Jonesboro GA
CNSB CNS Bancorp Inc. Jefferson City MO
THR Three Rivers Financial Corp. Three Rivers MI
WHGB WHG Bancshares Corp. Lutherville MD
Posted a loss for the most recent quarter
-----------------------------------------
FFBI First Financial Bancorp Inc. Belvidere IL
Cost of funds less than 3.45%
-----------------------------
GTPS Greater American Bancorp Champaign IL
INCB Indiana Community Bank SB Lebanon IN
SSB Scotland Bancorp Inc Laurinburg NC
SSM Stone Street Bancorp Inc. Mocksville NC
Conversion Valuation Appraisal Report Page: 1 - 35
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This resulted in a Comparable Group of 11 institutions.
Ticker Short Name City State
--------------------------------------------------------------------
ALBC Albion Banc Corp. Albion NY
ATSB AmTrust Capital Corp. Peru IN
CLAS Classic Bancshares Inc. Ashland KY
FFDF FFD Financial Corp. Dover OH
HFFB Harrodsburg First Fin Bancorp Harrodsburg KY
HZFS Horizon Financial Svcs Corp. Oskaloosa IA
LXMO Lexington B&L Financial Corp. Lexington MO
NBSI North Bancshares Inc. Chicago IL
PRBC Prestige Bancorp Inc. Pleasant Hills PA
SOBI Sobieski Bancorp Inc. South Bend IN
SZB SouthFirst Bancshares Inc. Sylacauga AL
SELECTION CRITERIA
To be eligible for selection to the Comparable Group, thrifts had to be publicly
traded on either the New York Stock Exchange, the American Stock Exchange or
traded on the national over-the-counter ("OTC") markets listed on the National
Association of Securities Dealers Automated Quotation ("NASDAQ") System. Each
company selected is a member of one of the exchanges listed above.
Also excluded from the Comparable Group were institutions that were pending
mergers or acquisitions along with companies whose prices appear to be distorted
by speculative factors or unusual operating conditions. Finally, institutions
that completed their conversions within the last year were also excluded as the
earnings of newly converted institutions do not reflect a full years benefit
from the reinvestment of proceeds, and thus the price/earnings multiples and
return on equity measures for these institutions tend to be skewed upward and
downward respectively.
In an ideal world, all of the Comparable Group would contain the exact
characteristics of the Bank. The goal of the selection criteria process is to
find those institutions that most closely match those of the Bank. None of the
Comparables selected will be exact clones of the Bank.
Conversion Valuation Appraisal Report Page: 1 - 36
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The members of the Comparable Group were selected based upon the following
criteria:
1. Liquidity of the issue
2. Asset size
3. Profitability
4. Capital level
5. Asset mix
6. Operating strategy
7. Date of conversion
1. Liquidity of the Issue The existence of an active and regular trading
market for a stock is critical to the reliability of share price data. Weak or
thinly traded stocks are questionable due to an irregular frequency of trades or
highly varied trading prices. Thinly traded stocks also tend to exhibit a very
wide bid/ask range. As such, companies exhibiting thin liquidity were excluded
from the selection. Also, institutions involved in an acquisition and/or
companies with market prices that appear to be influenced by announced or
rumored acquisitions have been excluded as the stock prices could be either
artificially high or low. For selection of the Comparable Group, only those
institutions listed on NYSE, AMEX, NASDAQ were selected. Ten of the members of
the Comparable Group are listed on NASDAQ and one is listed on AMEX.
2. Asset size The Comparable Group should have a similar asset size to the
Bank. Large institutions are not appropriate for the peer group due to a more
extensive branch network, greater financial strength, more access to diverse
markets and more capacity in terms of infrastructure. The Comparable Group
ranged from $59.2 million to $135.7 million in total assets. The Bank's asset
size was $112.5 million as of June 30, 1997.
3. Profitability The Comparable Group should have similar financial
conditions and recent earnings that are comparable to the Bank. They should show
a comparable return on equity and return on assets measures. As such, the
Comparable Group have ROAs averaging 0.73% and ROEs averaging 4.44% for the most
recent quarter available. The Comparable Group profitability measures had a
dispersion about the mean for the ROA measure ranging from a low of 0.30% to a
high of 1.52% while the ROE measure ranged from a low of 3.36% to a high of
5.98%. The Bank had an annualized ROA of 0.22% and ROE of 4.05% for the six
month period ending June 30, 1997.
Conversion Valuation Appraisal Report Page: 1 - 37
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4. Capital level The Comparable Group should have a capital level similar to
the Bank's. Capital is important in that it is a determinant of asset size and
regulatory rating. Institutions with capital in a similar range as the Bank were
selected. The average equity to assets ratio for the Comparable Group was 16.18%
with a high of 28.32% and a low of 8.73%. At June 30, 1997, the Bank had an
equity to assets ratio of 5.41%.
5. Asset Mix The asset mix is very important in the selection criteria for
Comparables. At June 30, 1997, the Bank had a total net loan to asset ratio of
82.56%. The average loan to asset ratio for the Comparables was 69.51%, ranging
from a low of 61.03% to a high of 76.69%.
6. Operating strategy An institution's operating characteristics are
important because they determine future performance. They also affect expected
rates of return and investor's general perception of the quality, risk and
attractiveness of a given company. Specific operating characteristics include
profitability, balance sheet growth, asset quality, capitalization, and
non-financial factors such as management strategies and lines of business.
7. Date of conversion Recent conversions, those completed after June 30,
1996, were excluded since the earnings of a newly converted institution do not
reflect a full year's benefits of reinvestment of conversion proceeds.
Additionally, new issues tend to trade at a discount to the market averages.
COMPARABLE GROUP PROFILES
o Albion Banc Corp. ALBC is a SAIF insured institution that operates 2
offices and is headquartered in Albion, New York. ALBC had the highest
deposit to asset ratio of 76.24% and the highest deposit growth rate,
16.03%, of the Comparable Group. Albion had the lowest ROA, 0.30%, and
ROE, 3.30%, despite having the lowest capital level, 8.73%. ALBC was
one of the nine Comparables that had no intangibles. ALBC was included
in the Comparable Group based on its loan to asset ratio, capital
ratios, modest profitability, asset size, high efficiency ratio and
income statement ratios.
o Amtrust Capital Crop. ATSB is a SAIF insured, Indiana institution that
operates 2 branches. ATSB had the highest nonperforming loan to loan
ratio, 3.66%, reserves to loans ratio, 0.93% (tied for the highest),
efficiency ratio, 85.66%, loan growth rate, 10.48%, and the second
highest interest expense, 4.30%. Amtrust is one of two Comparables
with intangibles, 1.07%. ATSB was included in the Comparable Group
based on its loan to asset ratio, high interest expense, high
efficiency ratio, asset size, high level of borrowings, and modest
profitability ratios.
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o Classic Bancshares Inc. CLAS is a SAIF insured institution that
operates 3 branches and has its headquarters in Ashland, Kentucky.
CLAS is the second largest thrift in the Comparable Group with $130.5
million in assets. Classic had the second highest level of deposits,
75.93%, the highest loan loss reserve to nonperforming loans, 165.78%,
along with the second highest interest margin, 3.86%. It was selected
as a Comparable based on its loan to asset ratio, small branch
network, modest profitability, and modest noninterest income.
o FFD Financial Corp. FFDF, a Dover, Ohio institution with 1 branch, is
a SAIF insured institution. FFD had the second lowest loan to asset,
62.33%, and deposit to asset ratio, 64.10%. FFD had no nonperforming
assets, the lowest reserve loan ratio, 0.27%, and the lowest yield on
assets, 6.88%. FFD Financial Corp. had no intangibles. FFDF was
included in the Comparable Group based on its loan to asset ratio,
modest profitability, one branch network, nominal noninterest income,
and level of borrowings.
o Harrodsburg First Fin Bancorp HFFB is a SAIF insured institution with
2 branches located in Harrodsburg, Kentucky. Harrodsburg has the
second highest equity to assets ratio, 26.92%, no nonperforming loans,
and the second highest ROA, 1.39%. HFFB had the lowest interest
expense, 3.54%, and noninterest expense, 1.53%, which translated into
the lowest efficiency ratio, 41.46%. HFFB was included with the
Comparable Group based on its asset size, loan to asset ratio, limited
branch network, and minimal noninterest income.
o Horizon Financial Services Corp. HZFS is a SAIF insured institution
that operates 3 offices in Oskaloosa, Iowa. Horizon had the lowest
loan to assets, 61.03%, the second lowest equity to asset ratio,
9.79%, and the highest interest expense, 4.52%, in the Comparable
Group. HZFS was included in the Comparable Group based on its loans to
assets, equity to assets, high level of borrowings, asset size,
limited branch network, and modest profitability ratios.
o Lexington B&L Financial Corp. LXMO is a SAIF insured thrift that
operates 1 branch in Lexington, Missouri, and is the smallest thrift
in the Comparable Group with $59.2 million in assets. Lexington had
the highest loan to asset ratio, 76.69%, and the highest level of
capital, 28.32%, in the Comparable Group. LXMO also had the highest
ROA, 1.52%, and the second highest ROE, 5.43%. LXMO was selected based
on its high loan to asset ratio, one branch network, reserve levels,
and moderate profitability.
Conversion Valuation Appraisal Report Page: 1 - 39
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o North Bancshares Inc. NBSI is a SAIF insured thrift that operates 2
offices in Chicago, Illinois. NBSI had no intangibles. NBSI had the
highest level of borrowings, and had no nonperforming assets and the
lowest level of reserves to loans, 0.27%, of the Comparable Group.
North was selected based on its asset size, loan to asset ratio,
limited branch network, high level of borrowings and modest
profitability.
o Prestige Bancorp Inc. PRBC, Pleasant Hills, Pennsylvania, is a SAIF
insured institution that operates 3 branches and is the largest Bank
in the Comparable Group, $135.7 million in assets. Prestige had the
highest ROE, 5.98%, the highest loan growth rate, 40.04%, the second
highest level of borrowings, 22.31%, and the second lowest yield on
assets, 7.01%, of the Comparable Group. PRBC was selected based on its
asset size, loan to asset ratio, limited branch network, moderate
profitability, and high level of borrowings.
o Sobieski Bancorp Inc. SOBI is a SAIF insured institution that operates
3 branches and is based in South Bend, Illinois. SOBI had the second
highest loan to assets, 75.02%, reserves to nonperforming loans,
158.73%, and the second lowest ROE, 3.72%, and the second lowest
noninterest income to assets, 0.05%, in the Comparable Group. Sobieski
had no intangibles. SOBI was included in the Comparable Group based on
its loan to asset ratio, modest profitability, limited branch network
and modest noninterest income.
o SouthFirst Bancshares Inc. SZB is located in Sylacauga, Alabama and
operates 2 branches. SouthFirst is the only Comparable to trade on
AMEX. SZB has the highest level of noninterest income, 1.51%, but the
highest level of noninterest expense, 4.13%, which translated into the
third highest efficiency ratio, 81.08%, in the Comparable Group.
SouthFirst was included due to its limited branch network, modest
profitability, high loan to asset ratio, high efficiency ratio and
high level of borrowings.
All data presented in figures 34 through 44 is from SNL Securities utilizing the
most recent quarter for balance sheet and income statement related items. All
data for the Bank is from the prospectus or the audited financials. The market
pricing data for the Comparables is as of September 8, 1997. Nonperforming loans
and nonperforming assets, as defined by SNL Securities, do not include loans
delinquent over 90 days and still accruing. This differs from the nonperforming
numbers reported in Chapter 2 of this document, which are based on the offering
prospectus.
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FIGURE 29 - KEY FINANCIAL INDICATORS
The Bank and the Comparable Group
- --------------------------------------------------------------------------------
Comparable Group
Quarter Average
The Bank at (Most Recent
June 30, 1997 Quarter)
- --------------------------------------------------------------------------------
Balance Sheet Data
- --------------------------------------------------------------------------------
Gross Loans to Deposits 118.92% 100.83%
- --------------------------------------------------------------------------------
Total Net Loans to Assets 82.56% 69.51%
- --------------------------------------------------------------------------------
Deposits to Assets 69.62% 69.14%
- --------------------------------------------------------------------------------
Borrowed Funds to Assets 22.39% 13.41%
- --------------------------------------------------------------------------------
Balance Sheet Growth
- --------------------------------------------------------------------------------
Asset Growth Rate (0.25%) 8.85%
- --------------------------------------------------------------------------------
Loan Growth Rate (10.45%) 14.24%
- --------------------------------------------------------------------------------
Deposit Growth Rate (0.15%) 2.57%
- --------------------------------------------------------------------------------
Capital
- --------------------------------------------------------------------------------
Equity to Assets 5.41% 16.18%
- --------------------------------------------------------------------------------
Tangible Equity to Assets 5.38% 15.98%
- --------------------------------------------------------------------------------
Intangible Assets to Equity 0.00% 1.50%
- --------------------------------------------------------------------------------
Regulatory Core Capital to Assets 5.38% 14.00%
- --------------------------------------------------------------------------------
Equity + Reserves to Assets 5.64% 16.52%
- --------------------------------------------------------------------------------
Total Capital to Risk Adjusted Assets 10.28% 28.29%
- --------------------------------------------------------------------------------
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FIGURE 29 - KEY FINANCIAL INDICATORS (Continued)
- --------------------------------------------------------------------------------
The Bank Comparable Group
- --------------------------------------------------------------------------------
Asset Quality
- --------------------------------------------------------------------------------
Non-Performing Loans to Loans 0.35% 0.72%
- --------------------------------------------------------------------------------
Reserves to Non-Performing Loans 78.59% 88.34%
- --------------------------------------------------------------------------------
Non-Performing Assets to Assets 0.29% 0.60%
- --------------------------------------------------------------------------------
Non-Performing Assets to Equity 5.37% 5.42%
- --------------------------------------------------------------------------------
Reserves to Loans 0.27% 0.49%
- --------------------------------------------------------------------------------
Reserves to Non-Performing Assets + 90 Days Del. 78.59% 65.58%
- --------------------------------------------------------------------------------
Profitability
- --------------------------------------------------------------------------------
Return on Average Assets 0.22% 0.73%
- --------------------------------------------------------------------------------
Return on Average Equity 4.05% 4.44%
- --------------------------------------------------------------------------------
Income Statement
- --------------------------------------------------------------------------------
Net Interest Margin 2.01% 3.48%
- --------------------------------------------------------------------------------
Interest Income to Average Assets 7.21% 7.30%
- --------------------------------------------------------------------------------
Interest Expense to Average Assets 5.27% 3.94%
- --------------------------------------------------------------------------------
Net Interest Income to Average Assets 1.94% 3.36%
- --------------------------------------------------------------------------------
Noninterest Income to Average Assets 0.15% 0.37%
- --------------------------------------------------------------------------------
Noninterest Expense to Average Assets 1.70% 2.50%
- --------------------------------------------------------------------------------
Efficiency Ratio 81.44% 66.57%
- --------------------------------------------------------------------------------
Overhead Ratio 80.00% 63.85%
- --------------------------------------------------------------------------------
Source: The Bank Offering Prospectus, FinPro calculations and SNL Securities
Note: All of the Bank data is for the six month period ending June 30, 1997
and annualized where appropriate.
Note: All of the Comparable data is as of the most recent quarter.
Conversion Valuation Appraisal Report Page: 1 - 42
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CORPORATE DATA
FIGURE 30 - COMPARABLE CORPORATE DATA
Deposit
Number Insurance
of Agency Conversion
Ticker Short Name Exchange City State Offices IPO Date (BIF/SAIF) Type
- ------------------------------------- --------------------------------------------------------------------------
ALBC Albion Banc Corp. NASDAQ Albion NY 2 07/26/93 SAIF Regular
ATSB AmTrust Capital Corp. NASDAQ Peru IN 2 03/28/95 SAIF Regular
CLAS Classic Bancshares Inc. NASDAQ Ashland KY 3 12/29/95 SAIF Regular
FFDF FFD Financial Corp. NASDAQ Dover OH 1 04/03/96 SAIF Regular
HFFB Harrodsburg First Fin Bancorp NASDAQ Harrodsburg KY 2 10/04/95 SAIF Regular
HZFS Horizon Financial Svcs Corp. NASDAQ Oskaloosa IA 3 06/30/94 SAIF Regular
LXMO Lexington B&L Financial Corp. NASDAQ Lexington MO 1 06/06/96 SAIF Regular
NBSI North Bancshares Inc. NASDAQ Chicago IL 2 12/21/93 SAIF Regular
PRBC Prestige Bancorp Inc. NASDAQ Pleasant Hills PA 3 06/27/96 SAIF Regular
SOBI Sobieski Bancorp Inc. NASDAQ South Bend IN 3 03/31/95 SAIF Regular
SZB SouthFirst Bancshares Inc. AMSE Sylacauga AL 2 02/14/95 SAIF Regular
Source: SNL Securities
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KEY FINANCIAL DATA
Selected balance sheet ratios for the Comparable Group are shown in the
following table:
FIGURE 31 - COMPARABLE KEY FINANCIAL DATA
Total Loans/ Loans/ Deposits/ Borrowings/
Assets Deposits Assets Assets Assets
Ticker Short Name ($000) (%) (%) (%) (%)
- ------------------------------------- -------------------------------------------------
ALBC Albion Banc Corp. 68,628 93.78 71.50 76.24 13.50
ATSB AmTrust Capital Corp. 71,031 99.62 71.64 71.92 17.12
CLAS Classic Bancshares Inc. 130,525 87.73 66.61 75.93 8.41
FFDF FFD Financial Corp. 85,286 97.24 62.33 64.10 10.06
HFFB Harrodsburg First Fin Bancorp 108,950 102.71 73.91 71.96 0.00
HZFS Horizon Financial Svcs Corp. 85,969 91.02 61.03 67.05 22.22
LXMO Lexington B&L Financial Corp. 59,236 107.94 76.69 71.05 0.00
NBSI North Bancshares Inc. 119,586 108.41 64.94 59.90 23.25
PRBC Prestige Bancorp Inc. 135,721 102.58 67.19 65.50 22.31
SOBI Sobieski Bancorp Inc. 81,754 103.28 75.02 72.64 11.62
SZB SouthFirst Bancshares Inc. 97,283 114.80 73.80 64.29 19.01
-------------------------------------------------
Average 94,906 100.83 69.51 69.14 13.41
Maximum 135,721 114.80 76.69 76.24 23.25
Minimum 59,236 87.73 61.03 59.90 0.00
Source: SNL Securities
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CAPITAL DATA
FIGURE 32 - COMPARABLE CAPITAL DATA
Tangible Intangible Regulatory Equity + Total Capital/
Equity Equity Assets/ Core Cap/ Reserves/ Risk Adjusted
Assets Tang Assets Equity Assets Assets Assets
Ticker Short Name (%) (%) (%) (%) (%) (%)
- ------------------------------------- ----------------------------------------------------------------------
ALBC Albion Banc Corp. 8.73 8.73 0.00 NA 9.12 NA
ATSB AmTrust Capital Corp. 10.17 10.07 1.07 10.20 10.83 16.58
CLAS Classic Bancshares Inc. 14.87 12.87 15.44 11.70 15.49 24.00
FFDF FFD Financial Corp. 24.74 24.74 0.00 15.80 24.91 34.10
HFFB Harrodsburg First Fin Bancorp 26.92 26.92 0.00 21.10 27.21 43.05
HZFS Horizon Financial Svcs Corp. 9.79 9.79 0.00 7.40 10.10 14.43
LXMO Lexington B&L Financial Corp. 28.32 28.32 0.00 23.30 28.69 44.10
NBSI North Bancshares Inc. 14.14 14.14 0.00 12.15 14.31 32.31
PRBC Prestige Bancorp Inc. 11.13 11.13 0.00 11.29 11.39 24.58
SOBI Sobieski Bancorp Inc. 15.12 15.12 0.00 NA 15.36 NA
SZB SouthFirst Bancshares Inc. 14.00 14.00 0.00 13.05 14.29 21.47
----------------------------------------------------------------------
Average 16.18 15.98 1.50 14.00 16.52 28.29
Maximum 28.32 28.32 15.44 23.30 29.69 44.10
Minimum 8.73 8.73 0.00 0.00 9.12 0.00
Source: SNL Securities
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ASSET QUALITY DATA
FIGURE 33 - COMPARABLE ASSET QUALITY DATA
NPLs/ Reserves/ NPAs/ NPAs/ Reserves/ Reserves/
Loans NPLs Assets Equity Loans NPAs + 90
Ticker Short Name (%) (%) (%) (%) (%) (%)
- ------------------------------------- ------------------------------------------------------
ALBC Albion Banc Corp. 1.01 53.94 0.72 8.26 0.54 53.94
ATSB AmTrust Capital Corp. 3.66 25.47 2.84 27.96 0.93 23.48
CLAS Classic Bancshares Inc. 0.56 165.98 0.66 4.41 0.93 65.45
FFDF FFD Financial Corp. 0.01 NA 0.00 0.01 0.27 NA
HFFB Harrodsburg First Fin Bancorp 0.00 NA 0.00 0.00 0.38 59.81
HZFS Horizon Financial Svcs Corp. 0.89 57.78 0.96 9.81 0.52 25.93
LXMO Lexington B&L Financial Corp. 0.62 78.37 0.48 1.68 0.49 78.37
NBSI North Bancshares Inc. 0.00 NA 0.00 0.00 0.27 NA
PRBC Prestige Bancorp Inc. 0.44 87.47 0.30 2.71 0.38 85.33
SOBI Sobieski Bancorp Inc. 0.21 158.73 0.15 1.02 0.33 158.73
SZB SouthFirst Bancshares Inc. 0.50 78.95 0.53 3.81 0.40 39.15
------------------------------------------------------
Average 0.72 88.34 0.60 5.42 0.49 65.58
Maximum 3.66 165.98 2.84 27.96 0.93 158.73
Minimum 0.00 0.00 0.00 0.00 0.27 0.00
Source: SNL Securities
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PROFITABILITY DATA
FIGURE 34 - COMPARABLE PROFITABILITY DATA
Return on Return on
Avg Assets Avg Equity
Ticker Short Name (%) (%)
- ------------------------------------- -----------------------
ALBC Albion Banc Corp. 0.30 3.36
ATSB AmTrust Capital Corp. 0.42 4.16
CLAS Classic Bancshares Inc. 0.72 4.89
FFDF FFD Financial Corp. 0.90 3.61
HFFB Harrodsburg First Fin Bancorp 1.39 5.23
HZFS Horizon Financial Svcs Corp. 0.48 4.71
LXMO Lexington B&L Financial Corp. 1.52 5.43
NBSI North Bancshares Inc. 0.58 4.07
PRBC Prestige Bancorp Inc. 0.68 5.98
SOBI Sobieski Bancorp Inc. 0.57 3.72
SZB SouthFirst Bancshares Inc. 0.52 3.73
-----------------------
Average 0.73 4.44
Maximum 1.52 5.98
Minimum 0.30 3.36
Source: SNL Securities
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INCOME STATEMENT DATA
FIGURE 35 - COMPARABLE INCOME STATEMENT DATA
Net Interest Interest Net Interest Noninterest Noninterest
Interest Income/ Expense/ Income/ Income/ Expense/ Efficiency Overhead
Margin Avg Assets Avg Assets Avg Assets Avg Assets Avg Assets Ratio Ratio
Ticker Short Name (%) (%) (%) (%) (%) (%) (%) (%)
- ------------------------------------- ---------------------------------------------------------------------------------------------
ALBC Albion Banc Corp. 3.53 7.53 4.14 3.39 0.46 3.20 83.05 80.77
ATSB AmTrust Capital Corp. 2.85 7.03 4.30 2.73 0.47 2.74 85.66 83.20
CLAS Classic Bancshares Inc. 3.86 7.23 3.60 3.63 0.33 2.81 68.49 65.63
FFDF FFD Financial Corp. 3.34 6.88 3.58 3.30 0.07 1.83 54.43 53.47
HFFB Harrodsburg First Fin Bancorp 3.65 7.13 3.54 3.59 0.10 1.53 41.46 39.84
HZFS Horizon Financial Svcs Corp. 3.19 7.64 4.52 3.12 0.42 2.31 65.47 60.78
LXMO Lexington B&L Financial Corp. 3.99 7.77 3.85 3.91 0.13 1.69 41.86 39.86
NBSI North Bancshares Inc. 3.30 7.33 4.09 3.24 0.21 2.66 77.13 75.67
PRBC Prestige Bancorp Inc. 3.25 7.01 3.85 3.16 0.29 2.27 65.78 62.62
SOBI Sobieski Bancorp Inc. 3.42 7.23 3.91 3.32 0.05 2.29 67.85 67.37
SZB SouthFirst Bancshares Inc. 3.85 7.52 3.94 3.58 1.51 4.13 81.08 73.11
---------------------------------------------------------------------------------------------
Average 3.48 7.30 3.94 3.36 0.37 2.50 66.57 63.85
Maximum 3.99 7.77 4.52 3.91 1.51 4.13 85.66 83.20
Minimum 2.85 6.88 3.54 2.73 0.05 1.53 41.46 39.84
Source: SNL Securities
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GROWTH DATA
FIGURE 36 - COMPARABLE GROWTH DATA
Asset Loan Deposit
Growth Growth Growth
Rate Rate Rate
Ticker Short Name (%) (%) (%)
- ------------------------------------- -------------------------
ALBC Albion Banc Corp. 13.95 6.41 16.03
ATSB AmTrust Capital Corp. (6.58) (2.97) 10.48
CLAS Classic Bancshares Inc. (3.13) 21.40 (5.61)
FFDF FFD Financial Corp. (4.05) 13.06 1.61
HFFB Harrodsburg First Fin Bancorp 2.82 2.03 0.46
HZFS Horizon Financial Svcs Corp. 38.80 1.90 8.56
LXMO Lexington B&L Financial Corp. (3.43) 5.15 (2.59)
NBSI North Bancshares Inc. (1.42) 18.04 (2.72)
PRBC Prestige Bancorp Inc. 28.03 40.04 7.42
SOBI Sobieski Bancorp Inc. 13.53 23.75 2.65
SZB SouthFirst Bancshares Inc. 18.83 27.83 (7.99)
-------------------------
Average 8.85 14.24 2.57
Maximum 38.80 40.04 16.03
Minimum (6.58) (2.97) (7.99)
Source: SNL Securities
Conversion Valuation Appraisal Report Page: 1 - 49
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MARKET CAPITALIZATION DATA
FIGURE 37 - COMPARABLE MARKET CAPITALIZATION DATA
MRQ MRQ MRQ MRQ MRQ Pubicly MRQ Tangible
Market Price Price Price Reported Publicly Rep
Value Per Share High Low Book Value Book Value
Ticker Short Name ($) ($) (%) ($) ($) ($)
- ------------------------------------- -------------------------------------------------------------
ALBC Albion Banc Corp. 5.81 23.000 23.000 18.125 23.96 23.96
ATSB AmTrust Capital Corp. 6.71 12.125 12.250 10.000 13.72 13.57
CLAS Classic Bancshares Inc. 18.43 14.000 14.750 12.250 14.87 12.57
FFDF FFD Financial Corp. 21.46 14.000 14.000 13.000 14.51 14.51
HFFB Harrodsburg First Fin Bancorp 30.88 14.875 16.000 14.875 15.68 15.68
HZFS Horizon Financial Svcs Corp. 8.03 19.250 19.500 17.000 19.77 19.77
LXMO Lexington B&L Financial Corp. 18.22 16.625 16.625 14.125 14.73 14.73
NBSI North Bancshares Inc. 22.11 19.750 20.125 19.125 16.96 16.96
PRBC Prestige Bancorp Inc. 15.55 15.625 16.125 15.500 16.51 16.51
SOBI Sobieski Bancorp Inc. 12.59 14.750 15.250 14.500 17.24 17.24
SZB SouthFirst Bancshares Inc. 13.56 16.000 16.000 13.875 16.06 16.06
-------------------------------------------------------------
Average 15.76 16.36 16.69 14.76 16.73 16.51
Maximum 30.88 23.00 23.00 19.13 23.96 23.96
Minimum 5.81 12.13 12.25 10.00 13.72 12.57
Source: SNL Securities
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DIVIDEND DATA
FIGURE 38 - COMPARABLE DIVIDEND DATA
Current LTM Dividend
Dividend Payout
Yield Ratio
Ticker Short Name ($) (%)
- ------------------------------------- -----------------------
ALBC Albion Banc Corp. 1.376 114.81
ATSB AmTrust Capital Corp. 1.569 11.36
CLAS Classic Bancshares Inc. 1.982 36.36
FFDF FFD Financial Corp. 2.034 NA
HFFB Harrodsburg First Fin Bancorp 2.623 93.22
HZFS Horizon Financial Svcs Corp. 1.695 47.06
LXMO Lexington B&L Financial Corp. 1.875 26.32
NBSI North Bancshares Inc. 2.133 77.19
PRBC Prestige Bancorp Inc. 0.706 11.76
SOBI Sobieski Bancorp Inc. 1.969 43.75
SZB SouthFirst Bancshares Inc. 3.125 NA
-----------------------
Average 1.92 51.31
Maximum 3.13 114.81
Minimum 0.71 0.00
Source: SNL Securities
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PRICING DATA
FIGURE 39 - COMPARABLE PRICING DATA
Price/ Price/ Price/Tang
LTM Price/ Price/ Price/ Publicly Rep Publicly Rep
Core EPS Assets Earnings LTM EPS Book Value Book Value
Ticker Short Name (x) (%) (x) (x) (%) (%)
- ------------------------------------- ---------------------------------------------------------------
ALBC Albion Banc Corp. 23.97 8.47 29.06 86.11 97.04 97.04
ATSB AmTrust Capital Corp. 47.22 9.45 21.25 28.98 92.93 93.96
CLAS Classic Bancshares Inc. 19.35 14.12 17.66 25.68 94.99 112.37
FFDF FFD Financial Corp. NA 25.16 26.34 NA 101.65 101.65
HFFB Harrodsburg First Fin Bancorp 20.33 28.34 19.06 25.85 97.26 97.26
HZFS Horizon Financial Svcs Corp. 17.48 9.34 20.52 27.76 95.47 95.47
LXMO Lexington B&L Financial Corp. 21.05 30.75 18.18 28.07 108.62 108.62
NBSI North Bancshares Inc. 29.22 18.75 31.25 39.47 132.67 132.67
PRBC Prestige Bancorp Inc. 19.54 11.46 15.74 33.33 102.97 102.97
SOBI Sobieski Bancorp Inc. 26.64 15.40 29.02 50.78 94.26 94.26
SZB SouthFirst Bancshares Inc. 84.21 13.94 26.67 NA 99.63 99.63
---------------------------------------------------------------
Average 30.90 16.93 23.16 38.45 101.59 103.26
Maximum 84.21 30.75 31.25 86.11 132.67 132.67
Minimum 0.00 8.47 15.74 0.00 92.93 93.96
Source: SNL Securities
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4. Market Value Determination
INTRODUCTION
The estimated pro-forma market value of the Bank, along with certain adjustments
to its value relative to market values for the Comparable Group are delineated
in this section. The adjustments delineated in this section are made from
potential investors' viewpoints. A potential investor includes depositors
holding subscription rights and unrelated parties who may purchase stock in the
community offering and who are assumed to be aware of all relevant and necessary
facts as they pertain to the value of the Bank relative to other publicly traded
thrift institutions and relative to alternative investment opportunities.
There are numerous criteria on which the market value adjustments are based, but
the major ones utilized for purposes of this report include:
o Financial Strength
o Earnings Quality, Predictability and Growth
o Market Area
o Management
o Dividends
o Liquidity of the Issue
o Subscription Interest
o Recent Regulatory Matters
o Market for Seasoned Thrift Stocks
o Acquisition Market
After identifying the adjustments that should be made to market value, the
pro-forma market value for the Bank is computed and adjusted. The estimated
pro-forma market value for the Bank is then compared with the market valuation
ratios of the Comparable Group, recently converted public thrifts and the
aggregate ratios for all public thrifts.
Conversion Valuation Appraisal Report Page: 1 - 53
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FINANCIAL STRENGTH
The financial strength of an institution is an important market value
determinant, as the investment community considers such factors as bank
liquidity, capitalization, asset composition, funding mix, intangible levels and
interest rate risk in assessing the attractiveness of investing in the common
stock of a thrift. Following is a synopsis of the key financial elements of the
Bank measured against the Comparable Group. The numbers utilized for the Bank in
this comparison were on a pro-forma basis.
Liquidity - The liquidity of the Bank and the Comparable Group appear
similar and were sufficient to meet all regulatory guidelines.
Capitalization - The Comparable Group's average equity to assets ratio of
16.18% is higher than the Bank's ratio of 5.41%. The Bank's proforma equity
to asset ratio is projected to be 11.10% (at the midpoint) after the
conversion.
Asset Composition - The Bank's net loan to asset ratio of 82.56% is higher
than the average for the Comparable Group of 69.51%.
Asset Quality - The Bank's ALLL to loans ratio of 0.27% is below that of
the Comparable Group's 0.49%. The Bank has a reserve to nonperforming loan
ratio, 78.59% which is lower than that of the Comparable Group, 88.34%. The
Bank's nonperforming asset to asset ratio is 0.29%, which is below the
Comparable average of 0.60%.
Funding Mix - The Bank is funded through deposits, borrowings, and retained
earnings. The Comparable Group had 13.14% of its funding base from
borrowings as compared to the Bank's 22.39%. The high level of borrowings
provides significantly less funding flexibility when weighted to the
Comparable Group.
Intangible Levels - One of the most important factors influencing market
values is the level of intangibles that an institution carries on its
books. Thrifts trade more on tangible book than on book. The Bank had no
intangibles on its books at June 30, 1997. Of the Comparable Group, two had
intangibles. Only one of these Comparables has a significant level of
intangibles, Classic Bancshares with 15.44%. The Comparable average is
1.50% intangible assets to assets.
Conversion Valuation Appraisal Report Page: 1 - 54
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Interest Rate Risk - The Bank has an above average level of interest rate
risk.
Based on these factors, the Bank's market value should be adjusted downward in
comparison to the Comparable Group for these measures. The reason for the
downward adjustments are:
o The high level of borrowings limits the Bank's future funding sources.
o The Bank's interest rate risk position must by corrected over a period
of time.
o The Bank is shrinking in terms of assets, (0.25%), loans, (10.45%),
and deposits (0.15%), while the Comparable group is growing assets,
loans and deposits by 8.85%, 14.24% and 2.57%, respectively.
Conversion Valuation Appraisal Report Page: 1 - 55
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EARNINGS QUALITY, PREDICTABILITY AND GROWTH
The earnings quality, predictability and growth are critical components in the
establishment of market values for thrifts. Thrift earnings are primarily a
function of:
o net interest income
o loan loss provision
o non-interest income
o non-interest expense
The quality and predictability of earnings is dependent on both internal and
external factors. Some internal factors include the mix of the balance sheet,
the interest rate sensitivity of the balance sheet, the asset quality, and the
infrastructure in place to deliver the assets and liabilities to the public.
External factors include the competitive market for both assets and liabilities,
the global interest rate scenario, local economic factors and regulatory issues.
Each of these factors can influence the earnings of an institution, and each of
these factors is volatile. Investors prefer stability and consistency. As such,
solid, consistent earnings are preferred to high but risky earnings. Investors
also prefer earnings to be diversified and not entirely dependent on interest
income.
Conversion Valuation Appraisal Report Page: 1 - 56
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The Bank's income for June 30, 1997 on an annualized basis is $244 thousand,
which is below the December 31, 1995 figure of $420 thousand. Net income for the
year ending December 31, 1996 was down dramatically from the previous year due
to the one-time SAIF assessment of $492 thousand.
FIGURE 40 - NET INCOME CHART
[GRAPHIC OMITTED]
Source: Offering Prospectus
Note 1: The December 31, 1996 loss of $95 thousand is skewed due to the
one-time SAIF assessment of $492 thousand. When adjusted for this
one-time event (tax impacted at 40%) the Bank's December 31, 1996
income number would be $200 thousand.
Note 2: June 1997 data is for the six month period and is not annualized. The
annualized 1997 net income would be $244 thousand.
Conversion Valuation Appraisal Report Page: 1 - 57
================================================================================
The Bank's net interest spread and margin has declined since December 31, 1995.
FIGURE 41 - SPREAD AND MARGIN CHART
[GRAPHIC OMITTED]
Source: Offering Prospectus
The Bank has a low level of loan loss provisions, but the Bank has a low level
of nonperforming assets. At June 30, 1997, the Bank had an allowance for loan
and lease losses (ALLL) to total loans ratio of 0.27%, which is half that of the
Comparable Group.
The Bank has generated less non-interest income than the Comparable Group. Using
the annualized six month period ended June 30, 1997, the Bank had 0.15% of
non-interest income to average assets compared to the Comparable average of
0.37%.
For the six month period ended June 30, 1997, the Bank had an annualized
non-interest expense to average assets of 1.70% which was less than the 2.50%
average of the Comparable Group.
Conversion Valuation Appraisal Report Page: 1 - 58
================================================================================
Currently, investors are focusing on earnings sustainability as the interest
rate volatility has caused wide variation in income levels. With the intense
competition for both assets and deposits, banks can not easily replace lost
spread and margin with balance sheet growth. Additionally, the lower market
values of most thrifts relative to banks makes acquisitions more difficult.
Ninth Ward has experienced a decline in its spread and margin, due to the high
level of borrowings and the high interest rates needed to attract certificate
deposits. In addition, as a percent of assets the Bank's non-interest income is
less than half that of the Comparable Group. However, the Bank has a significant
advantage in operating expenses. Therefore, the market value for earnings is
adjusted downward.
Going forward, the Bank must find a branch outside the City of Wilmington. It is
expected that this new branch would adversely affect earnings.
Conversion Valuation Appraisal Report Page: 1 - 59
================================================================================
MARKET AREA
The market area that an institution serves has a significant impact on value, as
future success is interrelated with the economic, demographic and competitive
aspects of the market. Specifics on the Bank's market were delineated in Section
2 - Market Area Analysis.
The Bank currently has only one branch which also serves as its operation
headquarters. The deposit market has grown 49.63%, however it is difficult to
draw any conclusion from this data due to the large out of market deposits
reported by the likes of MBNA America Bank. The Bank's deposits have grown by
12.61%.
The Bank currently has only one branch while the majority (9 of 11) of the
Comparables have more than one branch. The Bank will have to branch in order to
leverage the capital raised. Demographically, the City of Wilmington has a
declining population base. There is no residential housing around the current
branch, which adversely affects the Bank since the Bank's focus is on retail
banking. Recently, the OTS has issued negative comments addressing the Bank's
limit deposit market. As such, a slightly downward adjustment is warranted for
this factor.
Conversion Valuation Appraisal Report Page: 1 - 60
================================================================================
MANAGEMENT
The Bank has developed a good management team with considerable banking
experience and length of service with the bank.
The Board is active and oversees and advises on all key strategic and policy
decisions. The organization chart appears reasonable for an institution of the
Bank's size and complexity.
As such, no adjustment appears to be warranted for this factor.
Conversion Valuation Appraisal Report Page: 1 - 61
================================================================================
DIVIDENDS
Historically, thrifts typically have not established dividend policies
immediately at or after conversion to stock ownership. Rather, newly converted
institutions, in general, have preferred to establish an earnings track record,
fully invest the conversion proceeds, and allow for seasoning of the stock
before establishing a dividend policy. In the late 1980's and early 1990's
however, there has been a tendency toward initiating dividend policies
concurrent with the conversion as a means of increasing the attractiveness of
the issue and to utilize the proceeds. Particularly as a result of the Savings
and Loan negative publicity, many thrifts felt the need to provide the
additional enticement of a dividend to attract more investors.
The last few years have seen yet another shift away from dividend policies
concurrent with conversion. Recent issues have been fully or over subscribing
without the need for the additional enticement of dividends. After conversion is
another issue however. Recent pressures on ROE and on internal rate of returns
to investors has prompted the industry toward cash dividends. This trend is
exacerbated by the lack of growth potential. Typically, when institutions are in
a growth mode, they issue stock dividends or do not declare a dividend. When
growth is stunted, these institutions shift toward reducing equity levels and
thus utilize cash dividends as a tool in this regard.
All of the comparable institutions had declared dividends. The average dividend
payout ratio for the Comparable Group was 46.18%, ranging from a high of 114.81%
to a low of 11.36%.
It is questionable whether the Bank will have the earnings and capital levels to
afford to pay dividends. Additionally, the Comparable payout ratio is
excessively high, well above the level Ninth Ward would be able to pay in the
foreseeable future. As such, a downward adjustment is indicated for this factor.
Conversion Valuation Appraisal Report Page: 1 - 62
================================================================================
LIQUIDITY OF THE ISSUE
The Comparable Group is by definition composed only of companies that trade in
the public markets with nine of the Comparables trading on NASDAQ and one on
AMSE. Typically, the number of shares outstanding and the market capitalization
provides an indication of how much liquidity there will be in a given stock. The
actual liquidity can be measured by volume traded over a given period of time.
The market capitalization values of the Comparable Group range from a low of
$5.8 million to a high of $30.9 million with an average market capitalization of
$15.8 million. The Bank expects to have $13.3 million of market capital at the
midpoint on a pro-forma basis.
Based on the comparison with the Comparable Group and the above data, no
adjustment appears warranted.
Conversion Valuation Appraisal Report Page: 1 - 63
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SUBSCRIPTION INTEREST
The outcome of subscription offerings has been, historically, difficult to
predict. Since 1992, however, the conversions have experienced robust
subscription interest with the exception of late 1994 when the pricing multiples
were high. During late 1994, many subscriptions had the need to resolicit due to
lack of professional investor demand. During 1995, the investor demand returned
and the subscription interest increased, primarily the result of lower market
multiples. The vast majority of recent conversions have oversubscribed and gone
off at the maximum or super-maximum. However, there were some offerings in May
and June 1996 that went off at or below the midpoint, indicating a possible
shift away from interest in thrift public offerings at that time.
Of more importance is the general strength of the aftermarket. Thrift stock
prices have soared upwards in recent months (see Figure 47) and is showing
strength across the board. Additionally, as shown in Exhibit 7, the most recent
conversions (within the last 3 months) have demonstrated a strong price
appreciation.
As such, an upward adjustment for subscription interest is warranted at this
time.
Conversion Valuation Appraisal Report Page: 1 - 64
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RECENT REGULATORY MATTERS
As a result of large after-market price increases of conversions during 1993 and
early 1994, the regulatory agencies have issued guidelines on appraisals for
conversions. The regulators publicly indicated that only modest immediate
after-market price increases are appropriate for converting institutions. The
guidelines issued November 22, 1994, indicate that the reasonableness and
adequacy of an appraisal will be partially judged by the immediate price
movement of the conversion stock in the after- market, using a very short time
frame of the second day of trading following closing. The guidelines further
discuss that the average price appreciation for all IPOs has been between 10 and
15%, which was deemed to be too high.
At around the same time period, IPO pricing was elevated on a book basis and
IPOs in late 1994 did not experience much appreciation. In fact, numerous IPOs
actually depreciated. 1995 brought back lower premiums to book but they have
been rising throughout 1996 to approximately the same levels as late 1994. 1997
has continued the trend with IPO's popping over 40% on average, for the first
day of trading.
Due to the publicity surrounding the thrift IPO market and magnitude of the
price pops, regulatory agencies are beginning to indicate the need for higher
pricing of new issues. This is an attempt to eliminate or at least moderate the
significant price appreciation of these new issues.
Regulatory agencies are also considering limiting stock buy backs to: 0% in the
first year, 5% in the second year and 5% in the third year.
The Bank is currently under a supervisory agreement with the OTS as already
discussed.
The price is adjusted slightly downward for this factor due to recent regulatory
decisions limiting the amount of stock repurchases and the continued thrift
charter uncertainty.
Conversion Valuation Appraisal Report Page: 1 - 65
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MARKET FOR SEASONED THRIFT STOCKS
Data for all public thrifts as of September 8, 1997 is provided in Exhibit 5. A
common measure utilized as a proxy for the performance of the thrift industry is
the SNL thrift index graphically shown below and tabularly shown on the
following page:
FIGURE 42- SNL THRIFT INDEX CHART
[GRAPHIC OMITTED]
Source: SNL Securities
Conversion Valuation Appraisal Report Page: 1 - 66
================================================================================
FIGURE 43 - HISTORICAL SNL INDEX
------------------------------------
SNL THRIFT INDEX MONTHLY PERFORMANCE
January 2, 1992 to September 8, 1997
------------------------------------
SNL % Change % Change % Change % Change % Change % Change
Thrift Since Since Since Since Since Since
Date Index 1/2/92 1/4/93 1/3/94 12/30/94 12/29/95 12/31/96
- ----------- ------ -------- -------- -------- -------- -------- --------
1992 2-Jan 143.9 -- -- -- -- -- --
3-Feb 153.3 6.5% -- -- -- -- --
2-Mar 164.3 14.2% -- -- -- -- --
1-Apr 157.6 9.5% -- -- -- -- --
1-May 160.8 11.7% -- -- -- -- --
1-Jun 170.4 18.4% -- -- -- -- --
1-Jul 175.1 21.7% -- -- -- -- --
1-Aug 179.7 24.9% -- -- -- -- --
1-Sep 169.6 17.9% -- -- -- -- --
1-Oct 167.0 16.1% -- -- -- -- --
2-Nov 172.4 19.8% -- -- -- -- --
1-Dec 186.2 29.4% -- -- -- -- --
1993 4-Jan 201.1 39.7% -- -- -- -- --
1-Feb 219.1 52.3% 9.0% -- -- -- --
1-Mar 221.1 53.6% 9.9% -- -- -- --
1-Apr 228.2 58.6% 13.5% -- -- -- --
3-May 215.9 50.0% 7.4% -- -- -- --
1-Jun 214.7 49.2% 6.8% -- -- -- --
1-Jul 220.5 53.2% 9.6% -- -- -- --
2-Aug 234.7 63.1% 16.7% -- -- -- --
1-Sep 246.7 71.4%. 22.7% -- -- -- --
1-Oct 259.9 80.6% 29.2% -- -- -- --
1-Nov 258.6 79.7% 28.6% -- -- -- --
1-Dec 245.7 70.7% 22.2% -- -- -- --
1994 3-Jan 252.5 75.5% 25.6% -- -- -- --
1-Feb 257.2 78.7% 27.9% 1.9% -- -- --
1-Mar 245.4 70.5% 22.0% -2.8% -- -- --
1-Apr 241.6 67.9% 20.1% -4.3% -- -- --
2-May 249.3 73.2% 24.0% -1.3% -- -- --
1-Jun 263.3 83.0% 30.9% 4.3% -- -- --
6-Jul 273.8 90.3% 36.2% 8.4% -- -- --
1-Aug 277.2 92.6% 37.8% 9.8% -- -- --
1-Sep 286.4 99.0% 42.4% 13.4% -- -- --
3-Oct 277.3 92.7% 37.9% 9.8% -- -- --
1-Nov 258.9 79.9% 28.7% 2.5% -- -- --
1-Dec 242.3 68.4% 20.5% -4.0% -- -- --
1995 31-Jan 256.1 78.0% 27.3% 1.4% 5.7% -- --
28-Feb 277.0 92.5% 37.7% 9.7% 14.3% -- --
31-Mar 278.4 93.5% 38.4% 10.3% 14.9% -- --
28-Apr 295.4 105.3% 46.9% 17.0% 21.9% -- --
31-May 307.6 113.8% 53.0% 21.8% 27.0% -- --
30-Jun 313.5 117.9% 55.9% 24.2% 29.4% -- --
30-Jul 328.2 128.1% 63.2% 30.0% 35.5% -- --
31-Aug 355.5 147.0% 76.8% 40.8% 46.7% -- --
30-Sep 362.3 151.8% 80.2% 43.5% 49.5% -- --
31-Oct 354.1 146.1% 76.1% 40.2% 46.1% -- --
30-Nov 370.2 157.3% 84.1% 46.6% 52.8% -- --
29-Dec 376.5 161.6% 87.2% 49.1% 55.4% -- --
1996 31-Jan 370.7 157.6% 84.3% 46.8% 53.0% -1.5% --
29-Feb 373.6 159.6% 85.8% 48.0% 54.2% -0.8% --
29-Mar 382.1 165.5% 90.0% 51.3% 57.7% 1.5% --
30-Apr 380.3 164.3% 89.1% 50.6% 57.0% 1.0% --
31-May 383.0 166.2% 90.5% 51.7% 58.1% 1.7% --
28-Jun 387.2 169.1% 92.5% 53.3% 59.8% 2.8% --
31-Jul 389.9 171.0% 93.9% 54.4% 60.9% 3.6% --
30-Aug 408.3 183.7% 103.0% 61.7% 68.5% 8.4% --
30-Sep 429.3 198.3% 113.5% 70.0% 77.2% 14.0% --
31-Oct 456.7 217.4% 127.1% 80.9% 88.5% 21.3% --
29-Nov 485.8 237.6% 141.6% 92.4% 100.5% 29.0% --
31-Dec 483.6 236.1% 140.5% 91.5% 99.6% 28.4% --
1997 31-Jan 520.1 261.4% 158.6% 106.0% 114.7% 38.1% 7.5%
31-Mar 527.7 266.7% 162.4% 109.0% 117.8% 40.2% 9.1%
10-Jun 594.8 313.4% 195.8% 135.6% 145.5% 58.0% 23.0%
10-Jul 638.8 343.9% 217.6% 153.0% 163.6% 69.7% 32.1%
8-Sep 695.9 383.6% 246.0% 175.6% 187.2% 84.8% 43.9%
Source: SNL Securities
Conversion Valuation Appraisal Report Page: 1 - 67
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FIGURE 44 - EQUITY INDICES
[GRAPHIC OMITTED]
Index Comparisons
----------------------------------------
SNL S&P DJIA
----------------------------------------
6/30/94 269.6 444.3 3,625.0
12/30/94 244.7 459.3 3,834.4
6/30/95 313.5 544.8 4,556.1
12/29/95 376.5 615.9 5,117.1
6/28/96 387.2 670.6 5,654.6
12/31/96 483.6 740.7 6,448.3
6/10/97 594.8 865.3 7,539.3
7/10/97 638.8 913.8 7,886.8
9/08/97 695.9 931.2 7,835.2
----------------------------------------
As the Figures 50 and 51 illustrate, the performance of the SNL index has been
robust through 1992, 1993, 1994 and 1995. The dip in the index, occurring in
late 1994, was the product of the interest rate rise during that period along
with the overall uneasiness in the stock market in general. The rate scenario
covering the same period as the SNL index can be seen in the chart on the
following page.
Conversion Valuation Appraisal Report Page: 1 - 68
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FIGURE 45 - HISTORICAL RATES
[GRAPHIC OMITTED]
Source: Prudential Bache Securities
As the graph demonstrates, the rate rise in late 1994 correlates closely to the
fall in thrift prices. The drop in rates in 1995 was one of the primary drivers
of the rapid rise in the SNL index. During 1996, rates increased slightly and
then remained stable, fueling the rise in the conversion prices. 1997 has seen a
continuation of this trend, with the average IPO pricing at 70.9%, 69.6%, and
72.8% of book value for the first, second, and third quarters of 1997
respectively.
Thrift pricing in general was robust in 1995 due to the falling interest rates,
the industry consolidation and renewed earnings. Contrasting this view, in late
1994 investors faced shrinking spreads and margins due to rising rates and
consolidation that was tailing off and slowing down. The blockbuster level of
consolidations have led many investors to think that all institutions are fair
game for acquisitions and prices have risen accordingly.
As Figure 52 shows, the SNL index has risen at a slower pace than the stock
market (using DJIA and S&P as proxies).
The average current price to book multiple for all standard conversions that
have taken place since January 1, 1996 is 116.70%; the price to earnings
multiple is 35.6x (see Exhibit 7).
As such, a downward adjustment for this measure is warranted, as newly converted
thrifts will not trade at the same multiples as seasoned thrifts because
investors do not have a proven track record on which to base investment
decisions. Additionally, newly converted thrifts need time to reinvest proceeds
and leverage the capital raised in the IPO.
Conversion Valuation Appraisal Report Page: 1 - 69
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ACQUISITION MARKET
The level of deals in 1997 is below that of 1996, but the second quarter did
increase modestly from the first quarter's level.
FIGURE 46 - DEALS FOR LAST FIVE QUARTERS
[GRAPHIC OMITTED]
Source: SNL Securities
Conversion Valuation Appraisal Report Page: 1 - 70
================================================================================
From 1994 through September 1997, thrift deal prices remained high. As
illustrated by the following graphs and tables, thrift deal prices as a multiple
of book and tangible book value continue to climb through September 8, 1997, for
all thrifts, thrifts in the Mid-Atlantic region, and similar deal size thrifts.
Price to earnings for all thrifts and similar size thrifts rose as did price to
assets and price to deposits. Price to earnings for the Mid-Atlantic region rose
modestly when compared to all thrift deals and interestingly, price to deposits
and price to assets declined. This would seem to imply that the Mid-Atlantic
thrifts are leveraging capital and creating earnings.
FIGURE 47 - CURRENT THRIFT ACQUISITION MULTIPLES, PRICE TO BOOK
[GRAPHIC OMITTED]
Conversion Valuation Appraisal Report Page: 1 - 71
================================================================================
FIGURE 48 - CURRENT THRIFT ACQUISITION MULTIPLES, PRICE TO TANGIBLE BOOK
[GRAPHIC OMITTED]
FIGURE 49 - THRIFT ACQUISITION MULTIPLES, PRICE TO EARNINGS
[GRAPHIC OMITTED]
Conversion Valuation Appraisal Report Page: 1 - 72
================================================================================
FIGURE 50 - CURRENT THRIFT ACQUISITION MULTIPLES, PRICE TO ASSETS
[GRAPHIC OMITTED]
FIGURE 51 - CURRENT THRIFT ACQUISITION MULTIPLES, PRICE TO DEPOSITS
[GRAPHIC OMITTED]
Conversion Valuation Appraisal Report Page: 1 - 73
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FIGURE 52 - DEAL MULTIPLES
Median Price to LTM Earnings 1994 1995 1996 1997 YTD
- ---------------------------- ---- ---- ---- --------
Thrifts - Nationwide 13.8 18.6 17.7 25.3
Thrifts - Mid-Atlantic 13.3 17.9 17.0 18.3
Thrifts - Deal Value $10-$50 Million 13.5 17.6 18.7 41.3
Average Price to Book
- ---------------------
Thrifts - Nationwide 154.5 144.7 149.5 168.7
Thrifts - Mid-Atlantic 153.9 156.5 156.9 188.0
Thrifts - Deal Value $10-$50 Million 158.7 146.0 141.0 161.1
Average Price to Tangible Book
- ------------------------------
Thrifts - Nationwide 158.9 149.1 153.6 172.4
Thrifts - Mid-Atlantic 160.4 157.6 159.4 193.1
Thrifts - Deal Value $10-$50 Million 159.7 153.4 144.1 161.1
Average Price to Assets
- -----------------------
Thrifts - Nationwide 13.9 14.8 15.0 18.0
Thrifts - Mid-Atlantic 13.2 15.3 17.7 15.1
Thrifts - Deal Value $10-$50 Million 15.4 15.3 16.7 20.5
Average Price to Deposits
- -------------------------
Thrifts - Nationwide 17.0 19.2 19.9 24.0
Thrifts - Mid-Atlantic 16.2 20.3 24.5 22.4
Thrifts - Deal Value $10-$50 Million 18.7 20.0 22.1 26.3
Currently there are two local pending thrift acquisition announced. Provident
Bancshares in Maryland has announced its intention to purchase First Citizens
Financial also in Maryland for an estimated 2.21 times book and 31.6 times
earnings. Also, American National Bancorp in Maryland has entered into an
agreement to be acquired by Crestar Financial, located in Virginia, for an
estimated 1.61 times book and 53.3 times earnings. The acquisition multiples
associated with all deals are shown below.
FIGURE 53 -ACQUISITION TABLE
At Announcement Offer Divided By
--------------------------------
Book Value LTM EPS
---------- -------
Pending Merger Median 188 23.7
Completed Merger Median 152 26.0
Source: SNL Securities
A downward adjustment is warranted for this factor at time of conversion, since
new conversions are not readily available for acquisition for well over one year
from the date of conversion and since the market prices of the Comparables
already have this acquisition premium built in their prices.
Conversion Valuation Appraisal Report Page: 1 - 74
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ADJUSTMENTS TO VALUE
Overall, FinPro believes that the Bank pro-forma market value should be
discounted relative to the Comparable Group, reflecting the following
adjustments.
Key Valuation Parameters Valuation Adjustment
- --------------------------------------------------------------------------------
Financial Strength Downward
Earnings Quality Downward
Market Area Slightly downward
Management No Adjustment
Dividends Downward
Liquidity of the Issue No Adjustment
Subscription Interest Upward
Recent Regulatory Matters Slightly Downward
Market for Seasoned Thrift Stocks Downward
Acquisition Market Downward
As such, and as a result of all the factors discussed, a full offering discount
in the 35% - 40% range from the average trading values of the comparable
companies appears to be reasonable. This is particularly true as these numbers
represent a modest discount to book value for recent standard conversions.
Conversion Valuation Appraisal Report Page: 1 - 75
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VALUATION APPROACH
In applying the accepted valuation methodology promulgated by the regulators,
i.e., the pro-forma market value approach, four key pricing multiples were
considered. The four multiples include:
Price to earnings ("P/E")
Price to tangible book value ("P/TB")
Price to book value ("P/B")
Price to assets ("P/A")
All of the approaches were calculated on a pro-forma basis including the effects
of the conversion proceeds. All of the assumptions utilized are presented in
Exhibits 8 and 9.
To ascertain the pro-forma estimated market value of the Bank, the market
multiples for the Comparable Group, all publicly traded thrifts and the recent
(1996 to date) standard conversion group were assessed.
Since thrift earnings in general have had a high degree of volatility over the
past decade, the P/B approach has gained in importance and is utilized
frequently as the benchmark for market value. It is interesting to note that the
P/B approach is more of a benchmark than a reliable valuation technique. A
better approach is the P/TB approach. In general, investors tend to price
financial institutions on a tangible book basis, because it incorporates the P/B
approach adjusted for intangibles. Recently, the P/E approach has regained favor
among investors.
As such, in estimating the market value for the Bank, the P/TB was weighted
higher than the P/B approach. Additionally, the P/E approach was given equal
weighting to the P/TB approach as investors rely on the earnings stream for
investment decisions going forward. The P/A ratio was not given much weight in
the valuation process
In terms of the market multiples, most weight was given to the Comparable Group
and the recent (1996 to date) standard conversions. Less weight was ascribed to
all public thrifts and all Illinois thrifts. The multiples for the Comparable
Group, all publicly traded thrifts, and only the public Delaware thrift are
shown in Exhibit 6.
Conversion Valuation Appraisal Report Page: 1 - 76
================================================================================
Based upon the approximately 40% discount defined in the section above, the Bank
pricing at the midpoint is estimated to be $8,750,000. Based upon a range below
and above the midpoint value, the relative values are $7,440,000 at the minimum
and $10,060,000 at the maximum respectively. At the supermaximum of the range
the offering value would be $11,570,000.
At the various levels of the estimated value range, the offering would result in
the following offering data:
FIGURE 54 - VALUE RANGE OFFERING DATA
Full
Total Price per Conversion
Conclusion Shares Share Value
- ---------- ------ ----- -----
Appraised Value - Midpoint 875 $10 $ 8,750
Appraised Value - Minimum 744 $10 $ 7,440
Appraised Value - Maximum 1,006 $10 $10,060
Appraised Value - SuperMaximum* 1,157 $10 $11,570
* SuperMaximum is an overallotment option that is 15% above the maximum amount.
Source: FinPro Inc. Proforma Model
Conversion Valuation Appraisal Report Page: 1 - 77
================================================================================
This equates to the following multiples:
FIGURE 55 - COMPARABLE PRICING MULTIPLES
Price Relative to
-----------------------------------------------------------------
Earnings Unadjusted Earnings Book Tangible Book Assets
-------- ------------------- ---- ------------- ------
The Bank (at midpoint) 17.24 50.00 65.83% 65.83% 7.31%
Comparable Group Average 36.57 36.57 107.52% 107.62% 16.82%
(Discount) Premium -52.86% 36.72% -38.77% -38.83% -56.54%
Source: FinPro Calculations
FIGURE 56 - RECENT STANDARD CONVERSION MULTIPLES
Price Relative to
-----------------------------------------------------------------
Earnings Unadjusted Earnings Book Tangible Book Assets
-------- ------------------- ---- ------------- ------
The Bank (at midpoint) 17.24 50.00 65.83% 65.83% 7.31%
Recent Standard Conversions 23.70 23.70 71.10% 71.10% 17.10%
(Discount) Premium -27.26% 110.97% -7.41% -7.41% -57.25%
Source: FinPro Calculations
As the tables above demonstrate, a discount is applied to the Bank relative to
the Comparable Group on price to earnings, price to book, and price to tangible
book basis and at a premium on a price to assets basis. In comparison to the
recent standard conversions the Bank is priced at a discount on all bases.
FIGURE 57 - SUPERMAX TO RECENT CONVERSION COMPARISON
Price Relative to
-----------------------------------------------------------------
Earnings Unadjusted Earnings Book Tangible Book Assets
-------- ------------------- ---- ------------- ------
The Bank (at Supermaximum) 20.00 47.62 73.53% 73.53% 9.47%
Recent Standard Conversions 23.70 23.70 71.10% 71.10% 17.10%
(Discount) Premium -15.61% 100.93% 3.42% 3.42% -44.62%
Source: FinPro Calculations
The price to earnings discounts in Figures 55 and 56 are magnified due to the
one time SAIF assessment. The assessment is included in the Comparable Group's
and Recent Conversion's multiples but not in the Bank's, thereby overstating the
relationship.
In addition, the Recent Conversion multiple is based on public offerings which
have typically subscribed at the supermaximum. Figure 57 adjusts for these
factors by including the Bank's one time SAIF expense in the pro forma earnings
and by calculating the discount or premium in comparison to the Bank's multiples
at the supermaximum.
Conversion Valuation Appraisal Report Page: 1 - 78
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VALUATION CONCLUSION
It is, therefore, our opinion that as of September 8, 1997, the estimated
pro-forma market value of the Bank in a full offering was $8,750,000 at the
midpoint of a range with a minimum of $7,440,000 to a maximum of $10,060,000 at
15% below and 15% above the midpoint of the range respectively. Assuming an
adjusted maximum value of 15% above the maximum value, the adjusted maximum
value or supermaximum value in a full offering is $11,570,000. The stock will be
issued at $10.00 per share.
Pro-forma comparisons of the Bank's value range with the Comparable Group, all
public thrifts, Delaware public thrifts and the recent standard conversion group
is shown in Exhibits 8 and 9.
Exhibit 1
Consolidated Balance Sheets
- -------------------------------------------------------------------------------------------------------
(Unaudited) December 31,
April 30, --------------------------
Assets 1997 1996 1995
- ------ ------------ ------------ -----------
Cash and cash equivalents $ 2,838,215 $ 2,643,452 $ 1,060,856
Investment securities held to maturity -- -- 11,488,192
Investment securities available for sale 5,992,005 6,475,800 --
Mortgage-backed securities held to maturity -- -- 698,669
Mortgage-backed securities available for sale 190,414 203,147 --
Loans receivable, net 92,919,385 98,042,118 78,835,306
Loans held for sale 5,547,674 -- 1,020,000
Federal Home Loan Bank stock - at cost 1,332,500 1,500,000 727,500
Accrued interest receivable
Loans 999,064 975,244 664,189
Investments 94,666 93,526 180,304
Mortgage-backed securities 111 1,171 3,886
Office property and equipment, net 1,983,423 2,020,957 2,103,463
Prepaid expenses and other assets 86,527 66,012 75,166
Prepaid income taxes 63,564 166,850 --
Mortgage servicing rights 322,533 317,435 297,969
Deffered income taxes 173,618 177,506 221,704
------------ ------------ -----------
Total assets $112,543,699 $112,683,218 $97,377,204
============ ============ ===========
Liabilities and Equity
- ----------------------
Liabilities
- -----------
Deposits $ 78,351,363 $ 78,408,793 $ 81,522,249
Advances from Federal Home Loan Bank 25,200,000 25,900,000 7,950,000
Advances by borrowers for taxes and insurance 1,879,033 812,569 652,533
Accrued interest payable 276,461 265,764 220,553
Accrued income taxes -- -- 135,890
Accounts payable and accrued expenses 750,900 1,338,503 833,073
------------ ------------ -----------
Total liabilities 106,457,757 106,725,629 91,314,298
------------ ------------ -----------
Equity
- ------
Retained earnings 6,090,170 5,968,365 6,062,906
Net unrealized gain (loss) on securities available-for-sale (3,228) (10,776) --
------------ ------------ -----------
Total equity 6,086,942 5,957,589 6,062,906
------------ ------------ -----------
Total liabilities and equity $112,544,699 $112,683,218 $97,377,204
============ ============ ===========
- -------------------------------------------------------------------------------------------------------
Source: Audited Financial Statements
Exhibit 2
Consolidated Statements of Income
$ in 000's
- -----------------------------------------------------------------------------------------
(Unaudited)
Six Months Ended Years Ended
June 30, December 31,
----------------------- -----------------------
1997 1996 1996 1995
---------- ---------- ---------- ----------
Interest and dividend income:
Loans $3,797,982 $3,346,748 $7,092,065 $6,408,566
Mortgage-backed securities 6,821 22,141 38,982 40,336
Dividents on investments 267,555 393,758 791,062 843,845
---------- ---------- ---------- ----------
Total interest income 4,072,358 3,762,647 7,922,109 7,292,747
Interest expense:
Deposits 2,196,245 2,276,637 4,497,657 4,351,008
Federal Home Loan Bank advances 780,646 364,473 1,252,482 704,133
---------- ---------- ---------- ----------
Total interest expense 2,976,891 2,641,110 5,750,139 5,055,141
---------- ---------- ---------- ----------
Net interest income 1,095,467 1,121,537 2,171,970 2,237,606
---------- ---------- ---------- ----------
Provision for loan losses 10,000 26,000 47,000 5,000
---------- ---------- ---------- ----------
Net interest income after provision
for loan losses 1,085,467 1,095,537 2,124,970 2,232,606
Noninterest income:
Service fees 47,563 98,840 189,604 51,700
Gain on sale of loans 16,632 48,766 68,629 438,970
Realized market adjustment on loans 10,691 -- -- 11,060
Other income 10,027 9,664 46,543 18,469
---------- ---------- ---------- ----------
Total noninterest income 84,913 157,270 304,776 520,199
Noninterest expense:
Compensation and benefits 477,953 511,016 916,635 941,086
Advertising 101,210 142,024 202,825 169,170
Federal insurance premiums 15,265 94,053 187,057 171,097
SAIF assessment -- -- 491,992 --
Occupancy expense 101,425 135,238 214,968 236,687
Data processing expense 69,761 65,703 121,121 103,178
Directors fees 53,738 57,046 105,817 99,036
General and administrative expenses 141,223 176,881 352,872 347,957
---------- ---------- ---------- ----------
Total noninterest expense 960,575 1,181,961 2,593,287 2,068,211
---------- ---------- ---------- ----------
Income before income taxes 209,805 70,846 (163,541) 684,594
Income tax provision 88,000 30,000 (69,000) 264,670
---------- ---------- ---------- ----------
Net income $ 121,805 $ 40,846 $ (94,541) $ 419,924
========== ========== ========== ==========
- -----------------------------------------------------------------------------------------
Source: Audited Financial Statements
Exhibit 3
Consolidated Statements of Equity
- ------------------------------------------------------------------------------------------------------------------------------
Unrealized
Gain (Loss)
on Securities
Retained Available-
Earnings for-Sale Total
---------- ------------- ----------
Balance at January 1, 1995 $5,642,982 $ -- $5,642,982
Net income for the year ended December 31, 1995 419,924 -- 419,924
---------- -------- ----------
Balance at December 31, 1995 6,062,906 -- 6,062,906
Net loss for the year ended December 31, 1996 (94,541) -- (94,541)
Unrealized losses on available for sale securities, net of taxes -- (10,776) (10,776)
---------- -------- ----------
Balance at December 31, 1996 5,968,365 (10,776) 5,957,589
Net Income for the six-month period ended June 30, 1997 (unaudited) 121,805 -- 121,805
Change in unrealized losses on available for sale securities, net of tax (unaudited) -- 7,548 7,548
---------- -------- ----------
Balance June 30, 1997 (unaudited) 6,090,170 (3,228) 6,086,942
- ------------------------------------------------------------------------------------------------------------------------------
Source: Audited Financial Statements
Exhibit 4
Consolidated Statements of Cash Flows
- --------------------------------------------------------------------------------------------------------------------------
(Unaudited)
Six Months Ended Years Ended
June 30, December 31,
------------------------- -------------------------
1997 1996 1996 1995
----------- ----------- ----------- -----------
Cash flows from operating activities:
Net income $ 121,805 $ 40,846 $ (94,541) $ 419,924
Adjustments to reconcile net income to net
cash from operating activities:
Depreciation 58,079 93,959 121,751 164,780
Provision for loan losses 10,000 26,000 47,000 5,000
Gain on sale of investment and mortgage-backed securities -- -- (6,925) --
Gain on sale of loans (12,144) (16,727) (68,629) (438,970)
Realized market adjustment on loans (19,439) -- -- (11,060)
Amortization of:
Deferred loan fees (40,988) (71,159) (130,226) (126,475)
Discount on investment and mortgage-backed securities (4,048) (3,803) (8,827) (6,782)
Net change in assets and liabilities which provide (use) cash:
Accrued interest receivable (24,900) (250,824) (221,562) (170,295)
Mortgage servicing rights (5,098) 58,868 (19,466) (297,969)
Prepayment expenses and other assets (20,515) (2,230) 9,153 (7,296)
Accrued interest payable 10,697 (46,108) 45,211 (24,932)
Accounts payable and accrued expenses (587,603) 177,515 505,430 28,720
Income taxes 103,286 (340,140) (252,740) 452,205
Deffered loan fees 57,420 179,484 379,572 564,350
----------- ----------- ----------- -----------
Net cash provided by operating activities (353,448) (154,319) 305,201 551,200
Cash flows from investing activities:
Proceeds from sale of investments held to maturity -- -- $2,996,406 --
Proceeds from sales of investments 500,000 3,999,844 6,998,205 7,500,000
Principal collected on long term loans and mortgage-backed
securities held to maturity 6,463,211 8,010,488 15,576,441 9,865,735
Long-term loans originated (7,999,170) (20,587,053) (38,236,036) (47,296,058)
Procedes from sale of loans 1,128,181 1,013,297 4,407,397 29,869,979
Procedes from sale of mortgage-backed securities held to maturity -- -- 346,427 --
Sale of Federal Home Loan Bank stock 277,300 28,200 263,200 25,700
Purchase of Federal Home Loan Bank stock (109,800) (435,700) (1,035,700) (104,400)
Purchase of investments -- (3,997,375) (4,996,281) (6,997,017)
Proceeds from sale of real estate owned -- -- -- 63,000
Purchases of premises and equipment (20,545) (13,304) (39,244) (62,167)
----------- ----------- ----------- -----------
Net cash used in investing activities 239,177 (11,981,603) (13,719,185) (7,135,228)
Cash flows from financing activities:
Net change in deposits (57,430) (2,135,009) (3,113,456) 11,025,699
Increase in advances by borrowers for taxes and insurance 1,066,464 1,125,935 160,036 123,382
Proceeds from Federal Home Loan Bank advances 38,345,726 41,031,957 79,119,823 26,950,000
Repayments of Federal Home Loan Bank advances (39,045,726) (26,281,957) (61,169,823) (31,900,000)
----------- ----------- ----------- -----------
Net cash provided by (used in) financing activities 309,034 13,740,926 14,996,580 6,199,081
----------- ----------- ----------- -----------
Net change in cash and cash equivalents 194,763 1,605,004 1,582,596 (384,947)
Cash and cash equivalents at beginning of period 2,643,452 1,060,856 1,060,856 1,445,803
----------- ----------- ----------- -----------
Cash and cash equivalents at end of period $ 2,838,215 $ 2,665,860 $ 2,643,452 $ 1,060,856
=========== =========== =========== ===========
Supplemental disclosures of cash flow information
Cash paid during the year for:
Interest $ 2,966,194 $ 2,687,219 $ 5,704,928 $ 5,080,072
Income taxes 9,978 310,140 310,140 31,018
- --------------------------------------------------------------------------------------------------------------------------
Source: Audited Financial Statements
Exhibit 5
Selected Data on all Public Thrifts
Corporate
--------------------------------------------------------------------------
Deposit
Number Insurance
of Agency Conversion
Ticker Short Name Exchange City State Offices IPO Date (BIF/SAIF) Type
- -------------------------------------- --------------------------------------------------------------------------
CAL California Federal Bank, a FSB Private San Francisco CA 227 NA SAIF Not Avail.
CCMD Chevy Chase Bank, FSB Private Chevy Chase MD 107 NA SAIF Not Avail.
AABC Access Anytime Bancorp, Inc. NASDAQ Clovis NA 3 08/08/86 SAIF Regular
AADV Advantage Bancorp Inc. NASDAQ Kenosha WI 15 03/23/92 SAIF Regular
ABBK Abington Bancorp Inc. NASDAQ Abington MA 7 06/10/86 BIF Regular
ABCL Alliance Bancorp Inc. NASDAQ Hinsdale IL 14 07/07/92 SAIF Regular
ABCW Anchor BanCorp Wisconsin NASDAQ Madison WI 35 07/16/92 SAIF Regular
AFBC Advance Financial Bancorp NASDAQ Wellsburg WV 2 01/02/97 SAIF Regular
AFCB Affiliated Community Bancorp NASDAQ Waltham MA 12 10/19/95 SAIF Not Avail.
AFED AFSALA Bancorp Inc. NASDAQ Amsterdam NY 5 10/01/96 SAIF Regular
AFFFZ America First Financial Fund NASDAQ San Francisco CA 36 NA SAIF Not Avail.
AHCI Ambanc Holding Co. NASDAQ Amsterdam NY 12 12/27/95 BIF Regular
AHM Ahmanson & Company (H.F.) NYSE Irwindale CA 368 10/25/72 SAIF Regular
ALBC Albion Banc Corp. NASDAQ Albion NY 2 07/26/93 SAIF Regular
ALBK ALBANK Financial Corp. NASDAQ Albany NY 72 04/01/92 SAIF Regular
AMFC AMB Financial Corp. NASDAQ Munster IN 4 04/01/96 SAIF Regular
ANA Acadiana Bancshares Inc. AMSE Lafayette LA 4 07/16/96 SAIF Regular
ANBK American National Bancorp NASDAQ Baltimore MD 10 10/31/95 SAIF Not Avail.
ANDB Andover Bancorp Inc. NASDAQ Andover MA 12 05/08/86 BIF Regular
ASBI Ameriana Bancorp NASDAQ New Castle IN 8 03/02/87 SAIF Regular
ASBP ASB Financial Corp. NASDAQ Portsmouth OH 1 05/11/95 SAIF Regular
ASFC Astoria Financial Corp. NASDAQ Lake Success NY 45 11/18/93 SAIF Regular
ATSB AmTrust Capital Corp. NASDAQ Peru IN 2 03/28/95 SAIF Regular
AVND Avondale Financial Corp. NASDAQ Chicago IL 5 04/07/95 SAIF Regular
BANC BankAtlantic Bancorp Inc. NASDAQ Fort Lauderdale FL 57 11/29/83 SAIF Regular
BDJI First Federal Bancorporation NASDAQ Bemidji MN 5 04/04/95 SAIF Regular
BFD BostonFed Bancorp Inc. AMSE Burlington MA 10 10/24/95 SAIF Regular
BFFC Big Foot Financial Corp. NASDAQ Long Grove IL 3 12/20/96 SAIF Regular
BFSB Bedford Bancshares Inc. NASDAQ Bedford VA 3 08/22/94 SAIF Regular
BKC American Bank of Connecticut AMSE Waterbury CT 15 12/01/81 BIF Regular
BKCT Bancorp Connecticut Inc. NASDAQ Southington CT 3 07/03/86 BIF Regular
BKUNA BankUnited Financial Corp. NASDAQ Coral Gables FL 14 12/11/85 SAIF Regular
BNKU Bank United Corp. NASDAQ Houston TX 70 08/09/96 SAIF Not Avail.
BPLS Bank Plus Corp. NASDAQ Los Angeles CA 38 NA SAIF Not Avail.
BSBC Branford Savings Bank NASDAQ Branford CT 5 11/04/86 BIF Regular
BTHL Bethel Bancorp NASDAQ Portland ME 8 08/19/87 BIF Regular
BVCC Bay View Capital Corp. NASDAQ San Mateo CA 45 05/09/86 SAIF Regular
BWFC Bank West Financial Corp. NASDAQ Grand Rapids MI 3 03/30/95 SAIF Regular
BYFC Broadway Financial Corp. NASDAQ Los Angeles CA 3 01/09/96 SAIF Regular
CAFI Camco Financial Corp. NASDAQ Cambridge OH 11 NA SAIF Not Avail.
CAPS Capital Savings Bancorp Inc. NASDAQ Jefferson City MO 8 12/29/93 SAIF Regular
CASB Cascade Financial Corp. NASDAQ Everett WA 8 09/16/92 SAIF Regular
CASH First Midwest Financial Inc. NASDAQ Storm Lake IA 12 09/20/93 SAIF Regular
CATB Catskill Financial Corp. NASDAQ Catskill NY 4 04/18/96 BIF Regular
CBCI Calumet Bancorp Inc. NASDAQ Dolton IL 5 02/20/92 SAIF Regular
CBES CBES Bancorp Inc. NASDAQ Excelsior Springs MO 2 09/30/96 SAIF Regular
CBK Citizens First Financial Corp. AMSE Bloomington IL 6 05/01/96 SAIF Regular
CBSA Coastal Bancorp Inc. NASDAQ Houston TX 37 NA SAIF Not Avail.
CBSB Charter Financial Inc. NASDAQ Sparta IL 8 12/29/95 SAIF Not Avail.
CCFH CCF Holding Company NASDAQ Jonesboro GA 5 07/12/95 SAIF Regular
CEBK Central Co-operative Bank NASDAQ Somerville MA 8 10/24/86 BIF Regular
CENB Century Bancorp Inc. NASDAQ Thomasville NC 1 12/23/96 SAIF Regular
CENF CENFED Financial Corp. NASDAQ Pasadena CA 18 10/25/91 SAIF Regular
CFB Commercial Federal Corp. NYSE Omaha NE 107 12/31/84 SAIF Regular
CFBC Community First Banking Co. NASDAQ Carrollton GA 12 07/01/97 SAIF Regular
CFCP Coastal Financial Corp. NASDAQ Myrtle Beach SC 9 09/26/90 SAIF Regular
CFFC Community Financial Corp. NASDAQ Staunton VA 4 03/30/88 SAIF Regular
CFNC Carolina Fincorp Inc. NASDAQ Rockingham NC 4 11/25/96 SAIF Regular
CFSB CFSB Bancorp Inc. NASDAQ Lansing MI 17 06/22/90 SAIF Regular
CFTP Community Federal Bancorp NASDAQ Tupelo MS 1 03/26/96 SAIF Regular
CFX CFX Corp. AMSE Keene NH 43 02/12/87 BIF Regular
CIBI Community Investors Bancorp NASDAQ Bucyrus OH 3 02/07/95 SAIF Regular
CKFB CKF Bancorp Inc. NASDAQ Danville KY 1 01/04/95 SAIF Regular
CLAS Classic Bancshares Inc. NASDAQ Ashland KY 3 12/29/95 SAIF Regular
1
Corporate
--------------------------------------------------------------------------
Deposit
Number Insurance
of Agency Conversion
Ticker Short Name Exchange City State Offices IPO Date (BIF/SAIF) Type
- -------------------------------------- --------------------------------------------------------------------------
CMRN Cameron Financial Corp NASDAQ Cameron MO 3 04/03/95 SAIF Regular
CMSB Commonwealth Bancorp Inc. NASDAQ Norristown PA 56 06/17/96 SAIF Not Avail.
CMSV Community Savings FA (MHC) NASDAQ North Palm Beach FL 19 10/24/94 SAIF Mutual HC
CNIT CENIT Bancorp Inc. NASDAQ Norfolk VA 19 08/06/92 SAIF Regular
CNSB CNS Bancorp Inc. NASDAQ Jefferson City MO 5 06/12/96 SAIF Regular
CNY Carver Bancorp Inc. AMSE New York NY 7 10/25/94 SAIF Regular
COFI Charter One Financial NASDAQ Cleveland OH 175 01/22/88 SAIF Regular
CONE Conestoga Bancorp, Inc. NASDAQ Roslyn NY 8 03/30/94 SAIF Regular
COOP Cooperative Bankshares Inc. NASDAQ Wilmington NC 17 08/21/91 SAIF Regular
CRZY Crazy Woman Creek Bancorp NASDAQ Buffalo WY 1 03/29/96 SAIF Regular
CSA Coast Savings Financial NYSE Los Angeles CA 91 12/23/85 SAIF Regular
CSBF CSB Financial Group Inc. NASDAQ Centralia IL 2 10/09/95 SAIF Regular
CTZN CitFed Bancorp Inc. NASDAQ Dayton OH 35 01/23/92 SAIF Regular
CVAL Chester Valley Bancorp Inc. NASDAQ Downingtown PA 7 03/27/87 SAIF Regular
DCBI Delphos Citizens Bancorp Inc. NASDAQ Delphos OH 1 11/21/96 SAIF Regular
DIBK Dime Financial Corp. NASDAQ Wallingford CT 11 07/09/86 BIF Regular
DIME Dime Community Bancorp Inc. NASDAQ Brooklyn NY 15 06/26/96 BIF Regular
DME Dime Bancorp Inc. NYSE New York NY 91 08/19/86 BIF Regular
DNFC D & N Financial Corp. NASDAQ Hancock MI 37 02/13/85 SAIF Regular
DSL Downey Financial Corp. NYSE Newport Beach CA 84 01/01/71 SAIF Not Avail.
EBSI Eagle Bancshares NASDAQ Tucker GA 14 04/01/86 SAIF Regular
EFBC Empire Federal Bancorp Inc. NASDAQ Livingston MT 3 01/27/97 SAIF Regular
EFBI Enterprise Federal Bancorp NASDAQ West Chester OH 5 10/17/94 SAIF Regular
EGFC Eagle Financial Corp. NASDAQ Bristol CT 30 02/03/87 SAIF Regular
EGLB Eagle BancGroup Inc. NASDAQ Bloomington IL 3 07/01/96 SAIF Regular
EIRE Emerald Isle Bancorp Inc. NASDAQ Quincy MA 9 09/08/86 BIF Regular
EMLD Emerald Financial Corp. NASDAQ Strongsville OH 14 NA SAIF Regular
EQSB Equitable Federal Savings Bank NASDAQ Wheaton MD 4 09/10/93 SAIF Supervisory
ESBK Elmira Savings Bank (The) NASDAQ Elmira NY 6 03/01/85 BIF Regular
ESX Essex Bancorp Inc. AMSE Norfolk VA 4 07/18/90 SAIF Not Avail.
ETFS East Texas Financial Services NASDAQ Tyler TX 2 01/10/95 SAIF Regular
FAB FirstFed America Bancorp Inc. AMSE Fall River MA 13 01/15/97 SAIF Regular
FBBC First Bell Bancorp Inc. NASDAQ Pittsburgh PA 7 06/29/95 SAIF Regular
FBCI Fidelity Bancorp Inc. NASDAQ Chicago IL 5 12/15/93 SAIF Regular
FBCV 1ST Bancorp NASDAQ Vincennes IN 1 04/07/87 SAIF Regular
FBER 1st Bergen Bancorp NASDAQ Wood-Ridge NJ 4 04/01/96 SAIF Regular
FBHC Fort Bend Holding Corp. NASDAQ Rosenberg TX 6 06/30/93 SAIF Regular
FBNW FirstBank Corp. NASDAQ Lewiston ID 5 07/02/97 SAIF Regular
FBSI First Bancshares Inc. NASDAQ Mountain Grove MO 6 12/22/93 SAIF Regular
FCB Falmouth Co-Operative Bank AMSE Falmouth MA 2 03/28/96 BIF Regular
FCBF FCB Financial Corp. NASDAQ Neenah WI 13 09/24/93 SAIF Regular
FCME First Coastal Corp. NASDAQ Westbrook ME 7 NA BIF Not Avail.
FDEF First Defiance Financial NASDAQ Defiance OH 9 10/02/95 SAIF Not Avail.
FED FirstFed Financial Corp. NYSE Santa Monica CA 24 12/16/83 SAIF Regular
FESX First Essex Bancorp Inc. NASDAQ Andover MA 15 08/04/87 BIF Regular
FFBA First Colorado Bancorp Inc. NASDAQ Lakewood CO 26 01/02/96 SAIF Not Avail.
FFBH First Federal Bancshares of AR NASDAQ Harrison AR 13 05/03/96 SAIF Regular
FFBI First Financial Bancorp Inc. NASDAQ Belvidere IL 2 10/04/93 SAIF Regular
FFBS FFBS BanCorp Inc. NASDAQ Columbus MS 3 07/01/93 SAIF Regular
FFBZ First Federal Bancorp Inc. NASDAQ Zanesville OH 6 07/13/92 SAIF Regular
FFCH First Financial Holdings Inc. NASDAQ Charleston SC 33 11/10/83 SAIF Regular
FFDB FirstFed Bancorp Inc. NASDAQ Bessemer AL 8 11/19/91 SAIF Regular
FFDF FFD Financial Corp. NASDAQ Dover OH 1 04/03/96 SAIF Regular
FFED Fidelity Federal Bancorp NASDAQ Evansville IN 4 08/31/87 SAIF Regular
FFES First Federal of East Hartford NASDAQ East Hartford CT 12 06/23/87 SAIF Regular
FFFC FFVA Financial Corp. NASDAQ Lynchburg VA 12 10/12/94 SAIF Regular
FFFD North Central Bancshares Inc. NASDAQ Fort Dodge IA 4 03/21/96 SAIF Not Avail.
FFFG F.F.O. Financial Group Inc. NASDAQ St. Cloud FL 11 10/13/88 SAIF Regular
FFFL Fidelity Bankshares Inc. (MHC) NASDAQ West Palm Beach FL 20 01/07/94 SAIF Mutual HC
FFHC First Financial Corp. NASDAQ Stevens Point WI 128 12/24/80 SAIF Regular
FFHH FSF Financial Corp. NASDAQ Hutchinson MN 11 10/07/94 SAIF Regular
FFHS First Franklin Corporation NASDAQ Cincinnati OH 7 01/26/88 SAIF Regular
FFIC Flushing Financial Corp. NASDAQ Flushing NY 7 11/21/95 BIF Regular
FFKY First Federal Financial Corp. NASDAQ Elizabethtown KY 8 07/15/87 SAIF Regular
2
Corporate
--------------------------------------------------------------------------
Deposit
Number Insurance
of Agency Conversion
Ticker Short Name Exchange City State Offices IPO Date (BIF/SAIF) Type
- -------------------------------------- --------------------------------------------------------------------------
FFLC FFLC Bancorp Inc. NASDAQ Leesburg FL 9 01/04/94 SAIF Regular
FFOH Fidelity Financial of Ohio NASDAQ Cincinnati OH 11 03/04/96 SAIF Not Avail.
FFPB First Palm Beach Bancorp Inc. NASDAQ West Palm Beach FL 44 09/29/93 SAIF Regular
FFSL First Independence Corp. NASDAQ Independence KS 2 10/08/93 SAIF Regular
FFSX First Fed SB of Siouxland(MHC) NASDAQ Sioux City IA 13 07/13/92 SAIF Mutual HC
FFWC FFW Corp. NASDAQ Wabash IN 4 04/05/93 SAIF Regular
FFWD Wood Bancorp Inc. NASDAQ Bowling Green OH 7 08/31/93 SAIF Regular
FFYF FFY Financial Corp. NASDAQ Youngstown OH 10 06/28/93 SAIF Regular
FGHC First Georgia Holding Inc. NASDAQ Brunswick GA 7 02/11/87 SAIF Regular
FIBC Financial Bancorp Inc. NASDAQ Long Island City NY 5 08/17/94 SAIF Regular
FISB First Indiana Corporation NASDAQ Indianapolis IN 26 08/02/83 SAIF Regular
FKFS First Keystone Financial NASDAQ Media PA 5 01/26/95 SAIF Regular
FKKY Frankfort First Bancorp Inc. NASDAQ Frankfort KY 3 07/10/95 SAIF Regular
FLAG FLAG Financial Corp. NASDAQ LaGrange GA 4 12/11/86 SAIF Regular
FLFC First Liberty Financial Corp. NASDAQ Macon GA 31 12/06/83 SAIF Regular
FLGS Flagstar Bancorp Inc. NASDAQ Bloomfield Hills MI 19 NA SAIF Not Avail.
FLKY First Lancaster Bancshares NASDAQ Lancaster KY 1 07/01/96 SAIF Regular
FMBD First Mutual Bancorp Inc. NASDAQ Decatur IL 12 07/05/95 SAIF Regular
FMCO FMS Financial Corporation NASDAQ Burlington NJ 19 12/14/88 SAIF Regular
FMSB First Mutual Savings Bank NASDAQ Bellevue WA 8 12/17/85 BIF Regular
FNGB First Northern Capital Corp. NASDAQ Green Bay WI 20 12/29/83 SAIF Regular
FOBC Fed One Bancorp NASDAQ Wheeling WV 9 01/19/95 SAIF Not Avail.
FPRY First Financial Bancorp NASDAQ Tallahassee FL 6 03/29/88 SAIF Regular
FRC First Republic Bancorp NYSE San Francisco CA 13 NA BIF Not Avail.
FSBI Fidelity Bancorp Inc. NASDAQ Pittsburgh PA 8 06/24/88 SAIF Regular
FSFC First Southeast Financial Corp NASDAQ Anderson SC 11 10/08/93 SAIF Regular
FSLA First Savings Bank (MHC) NASDAQ Woodbridge NJ 17 07/10/92 SAIF Mutual HC
FSNJ Bayonne Bancshares Inc. NASDAQ Bayonne NJ 4 08/22/97 SAIF Mutual HC
FSPG First Home Bancorp Inc. NASDAQ Pennsville NJ 10 04/20/87 SAIF Regular
FSPT FirstSpartan Financial Corp. NASDAQ Spartanburg SC 5 07/09/97 SAIF Regular
FSSB First FS&LA of San Bernardino NASDAQ San Bernardino CA 4 02/02/93 SAIF Regular
FSTC First Citizens Corp. NASDAQ Newnan GA 9 03/01/86 SAIF Regular
FTF Texarkana First Financial Corp AMSE Texarkana AR 5 07/07/95 SAIF Regular
FTFC First Federal Capital Corp. NASDAQ La Crosse WI 45 11/02/89 SAIF Regular
FTNB Fulton Bancorp Inc. NASDAQ Fulton MO 2 10/18/96 SAIF Regular
FTSB Fort Thomas Financial Corp. NASDAQ Fort Thomas KY 2 06/28/95 SAIF Regular
FWWB First SB of Washington Bancorp NASDAQ Walla Walla WA 21 11/01/95 SAIF Regular
GAF GA Financial Inc. AMSE Pittsburgh PA 13 03/26/96 SAIF Regular
GBCI Glacier Bancorp Inc. NASDAQ Kalispell MT 18 03/30/84 SAIF Regular
GDVS Greater Delaware Valley (MHC) NASDAQ Broomall PA 7 03/03/95 SAIF Mutual HC
GDW Golden West Financial NYSE Oakland CA 249 05/29/59 SAIF Not Avail.
GFCO Glenway Financial Corp. NASDAQ Cincinnati OH 5 11/30/90 SAIF Regular
GFED Guaranty Federal SB (MHC) NASDAQ Springfield MO 4 04/10/95 SAIF Mutual HC
GFSB GFS Bancorp Inc. NASDAQ Grinnell IA 1 01/06/94 SAIF Regular
GOSB GSB Financial Corp. NASDAQ Goshen NY 2 07/09/97 BIF Regular
GPT GreenPoint Financial Corp. NYSE New York NY 74 01/28/94 BIF Regular
GRTR Greater New York Savings Bank NASDAQ New York NY 14 06/17/87 BIF Regular
GSB Golden State Bancorp Inc. NYSE Glendale CA 171 10/01/83 SAIF Regular
GSBC Great Southern Bancorp Inc. NASDAQ Springfield MO 25 12/14/89 SAIF Regular
GSFC Green Street Financial Corp. NASDAQ Fayetteville NC 3 04/04/96 SAIF Regular
GSLA GS Financial Corp. NASDAQ Metairie LA 3 04/01/97 SAIF Regular
GTFN Great Financial Corporation NASDAQ Louisville KY 45 03/31/94 SAIF Regular
GTPS Great American Bancorp NASDAQ Champaign IL 3 06/30/95 SAIF Regular
GUPB GFSB Bancorp Inc. NASDAQ Gallup NA 1 06/30/95 SAIF Regular
GWBC Gateway Bancorp Inc. NASDAQ Catlettsburg KY 2 01/18/95 SAIF Regular
HALL Hallmark Capital Corp. NASDAQ West Allis WI 3 01/03/94 SAIF Regular
HARB Harbor Florida Bancorp (MHC) NASDAQ Fort Pierce FL 23 01/06/94 SAIF Mutual HC
HARL Harleysville Savings Bank NASDAQ Harleysville PA 4 08/04/87 SAIF Regular
HARS Harris Savings Bank (MHC) NASDAQ Harrisburg PA 33 01/25/94 SAIF Mutual HC
HAVN Haven Bancorp Inc. NASDAQ Woodhaven NY 30 09/23/93 SAIF Regular
HBBI Home Building Bancorp NASDAQ Washington IN 2 02/08/95 SAIF Regular
HBEI Home Bancorp of Elgin Inc. NASDAQ Elgin IL 5 09/27/96 SAIF Regular
HBFW Home Bancorp NASDAQ Fort Wayne IN 9 03/30/95 SAIF Regular
HBNK Highland Federal Bank FSB NASDAQ Burbank CA 8 NA SAIF Not Avail.
3
Corporate
--------------------------------------------------------------------------
Deposit
Number Insurance
of Agency Conversion
Ticker Short Name Exchange City State Offices IPO Date (BIF/SAIF) Type
- -------------------------------------- --------------------------------------------------------------------------
HBS Haywood Bancshares Inc. AMSE Waynesville NC 4 12/18/87 BIF Not Avail.
HCBB HCB Bancshares Inc. NASDAQ Camden AR 6 05/07/97 SAIF Regular
HCFC Home City Financial Corp. NASDAQ Springfield OH 1 12/30/96 SAIF Regular
HEMT HF Bancorp Inc. NASDAQ Hemet CA 19 06/30/95 SAIF Regular
HFFB Harrodsburg First Fin Bancorp NASDAQ Harrodsburg KY 2 10/04/95 SAIF Regular
HFFC HF Financial Corp. NASDAQ Sioux Falls SD 19 04/08/92 SAIF Regular
HFGI Harrington Financial Group NASDAQ Richmond IN 4 NA SAIF Not Avail.
HFNC HFNC Financial Corp. NASDAQ Charlotte NC 9 12/29/95 SAIF Regular
HFSA Hardin Bancorp Inc. NASDAQ Hardin MO 3 09/29/95 SAIF Regular
HHFC Harvest Home Financial Corp. NASDAQ Cheviot OH 3 10/10/94 SAIF Regular
HIFS Hingham Instit. for Savings NASDAQ Hingham MA 5 12/20/88 BIF Regular
HMCI HomeCorp Inc. NASDAQ Rockford IL 9 06/22/90 SAIF Regular
HMLK Hemlock Federal Financial Corp NASDAQ Oak Forest IL 3 04/02/97 SAIF Regular
HMNF HMN Financial Inc. NASDAQ Spring Valley MN 7 06/30/94 SAIF Regular
HOMF Home Federal Bancorp NASDAQ Seymour IN 16 01/23/88 SAIF Regular
HPBC Home Port Bancorp Inc. NASDAQ Nantucket MA 2 08/25/88 BIF Regular
HRBF Harbor Federal Bancorp Inc. NASDAQ Baltimore MD 9 08/12/94 SAIF Regular
HRZB Horizon Financial Corp. NASDAQ Bellingham WA 12 08/01/86 BIF Regular
HTHR Hawthorne Financial Corp. NASDAQ El Segundo CA 6 NA SAIF Not Avail.
HVFD Haverfield Corp. NASDAQ Cleveland OH 10 03/19/85 SAIF Regular
HWEN Home Financial Bancorp NASDAQ Spencer IN 1 07/02/96 SAIF Regular
HZFS Horizon Financial Svcs Corp. NASDAQ Oskaloosa IA 3 06/30/94 SAIF Regular
IBSF IBS Financial Corp. NASDAQ Cherry Hill NJ 10 10/13/94 SAIF Regular
IFSB Independence Federal Svgs Bank NASDAQ Washington DC 2 06/06/85 SAIF Regular
INBI Industrial Bancorp NASDAQ Bellevue OH 10 08/01/95 SAIF Regular
INCB Indiana Community Bank SB NASDAQ Lebanon IN 3 12/15/94 SAIF Regular
IPSW Ipswich Savings Bank NASDAQ Ipswich MA 5 05/26/93 BIF Regular
ISBF ISB Financial Corporation NASDAQ New Iberia LA 27 04/07/95 SAIF Regular
ITLA ITLA Capital Corp. NASDAQ La Jolla CA 6 10/24/95 BIF Not Avail.
IWBK InterWest Bancorp Inc. NASDAQ Oak Harbor WA 38 NA SAIF Not Avail.
JOAC Joachim Bancorp Inc. NASDAQ De Soto MO 1 12/28/95 SAIF Regular
JSB JSB Financial Inc. NYSE Lynbrook NY 13 06/27/90 BIF Regular
JSBA Jefferson Savings Bancorp NASDAQ Ballwin MO 32 04/08/93 SAIF Regular
JXSB Jacksonville Savings Bk (MHC) NASDAQ Jacksonville IL 4 04/21/95 SAIF Mutual HC
JXVL Jacksonville Bancorp Inc. NASDAQ Jacksonville TX 6 04/01/96 SAIF Not Avail.
KFBI Klamath First Bancorp NASDAQ Klamath Falls OR 33 10/05/95 SAIF Regular
KNK Kankakee Bancorp Inc. AMSE Kankakee IL 9 01/06/93 SAIF Regular
KSAV KS Bancorp Inc. NASDAQ Kenly NC 4 12/30/93 SAIF Regular
KSBK KSB Bancorp Inc. NASDAQ Kingfield ME 8 06/24/93 BIF Regular
KYF Kentucky First Bancorp Inc. AMSE Cynthiana KY 2 08/29/95 SAIF Regular
LARK Landmark Bancshares Inc. NASDAQ Dodge City KS 5 03/28/94 SAIF Regular
LARL Laurel Capital Group Inc. NASDAQ Allison Park PA 6 02/20/87 SAIF Regular
LFBI Little Falls Bancorp Inc. NASDAQ Little Falls NJ 6 01/05/96 SAIF Regular
LFCO Life Financial Corp. NASDAQ Riverside CA 5 NA SAIF Not Avail.
LFED Leeds Federal Savings Bk (MHC) NASDAQ Baltimore MD 1 05/02/94 SAIF Mutual HC
LIFB Life Bancorp Inc. NASDAQ Norfolk VA 20 10/11/94 SAIF Regular
LISB Long Island Bancorp Inc. NASDAQ Melville NY 35 04/18/94 SAIF Regular
LOGN Logansport Financial Corp. NASDAQ Logansport IN 1 06/14/95 SAIF Regular
LONF London Financial Corporation NASDAQ London OH 1 04/01/96 SAIF Regular
LSBI LSB Financial Corp. NASDAQ Lafayette IN 4 02/03/95 BIF Regular
LSBX Lawrence Savings Bank NASDAQ North Andover MA 5 05/02/86 BIF Regular
LVSB Lakeview Financial NASDAQ West Paterson NJ 8 12/22/93 SAIF Regular
LXMO Lexington B&L Financial Corp. NASDAQ Lexington MO 1 06/06/96 SAIF Regular
MAFB MAF Bancorp Inc. NASDAQ Clarendon Hills IL 21 01/12/90 SAIF Regular
MARN Marion Capital Holdings NASDAQ Marion IN 2 03/18/93 SAIF Regular
MASB MASSBANK Corp. NASDAQ Reading MA 15 05/28/86 BIF Regular
MBB MSB Bancorp Inc. AMSE Goshen NY 16 09/03/92 BIF Regular
MBBC Monterey Bay Bancorp Inc. NASDAQ Watsonville CA 7 02/15/95 SAIF Regular
MBLF MBLA Financial Corp. NASDAQ Macon MO 2 06/24/93 SAIF Regular
MBSP Mitchell Bancorp Inc. NASDAQ Spruce Pine NC 1 07/12/96 SAIF Regular
MCBN Mid-Coast Bancorp Inc. NASDAQ Waldoboro ME 2 11/02/89 SAIF Regular
MCBS Mid Continent Bancshares Inc. NASDAQ El Dorado KS 10 06/27/94 SAIF Regular
MDBK Medford Savings Bank NASDAQ Medford MA 16 03/18/86 BIF Regular
MECH Mechanics Savings Bank NASDAQ Hartford CT 14 06/26/96 BIF Regular
4
Corporate
--------------------------------------------------------------------------
Deposit
Number Insurance
of Agency Conversion
Ticker Short Name Exchange City State Offices IPO Date (BIF/SAIF) Type
- -------------------------------------- --------------------------------------------------------------------------
MERI Meritrust Federal SB NASDAQ Thibodaux LA 8 NA SAIF Not Avail.
METF Metropolitan Financial Corp. NASDAQ Mayfield Heights OH 15 NA SAIF Not Avail.
MFBC MFB Corp. NASDAQ Mishawaka IN 5 03/25/94 SAIF Regular
MFCX Marshalltown Financial Corp. NASDAQ Marshalltown IA 3 03/31/94 SAIF Regular
MFFC Milton Federal Financial Corp. NASDAQ West Milton OH 2 10/07/94 SAIF Regular
MFLR Mayflower Co-operative Bank NASDAQ Middleboro MA 4 12/23/87 BIF Regular
MFSL Maryland Federal Bancorp NASDAQ Hyattsville MD 26 06/02/87 SAIF Regular
MGNL Magna Bancorp Inc. NASDAQ Hattiesburg MS 62 03/13/91 SAIF Regular
MIFC Mid-Iowa Financial Corp. NASDAQ Newton IA 6 10/14/92 SAIF Regular
MIVI Mississippi View Holding Co. NASDAQ Little Falls MN 1 03/24/95 SAIF Regular
MLBC ML Bancorp Inc. NASDAQ Villanova PA 26 08/11/94 SAIF Regular
MONT Montgomery Financial Corp. NASDAQ Crawfordsville IN 4 07/01/97 SAIF Mutual HC
MRKF Market Financial Corp. NASDAQ Mount Healthy OH 2 03/27/97 SAIF Regular
MSBF MSB Financial Inc. NASDAQ Marshall MI 2 02/06/95 SAIF Regular
MSBK Mutual Savings Bank FSB NASDAQ Bay City MI 22 07/17/92 SAIF Regular
MWBI Midwest Bancshares Inc. NASDAQ Burlington IA 4 11/12/92 SAIF Regular
MWBX MetroWest Bank NASDAQ Framingham MA 11 10/10/86 BIF Regular
MWFD Midwest Federal Financial NASDAQ Baraboo WI 9 07/08/92 SAIF Regular
NASB North American Savings Bank NASDAQ Grandview MO 7 09/27/85 SAIF Not Avail.
NBN Northeast Bancorp AMSE Portland ME 8 08/19/87 BIF Regular
NBSI North Bancshares Inc. NASDAQ Chicago IL 2 12/21/93 SAIF Regular
NEIB Northeast Indiana Bancorp NASDAQ Huntington IN 3 06/28/95 SAIF Regular
NHTB New Hampshire Thrift Bncshrs NASDAQ New London NH 10 05/22/86 SAIF Regular
NASB NewMil Bancorp Inc. NASDAQ New Milford CT 14 02/01/86 BIF Regular
NSLB NS&L Bancorp Inc. NASDAQ Neosho MO 2 06/08/95 SAIF Regular
NSSB Norwich Financial Corp. NASDAQ Norwich CT 17 11/14/86 BIF Regular
NSSY Norwalk Savings Society NASDAQ Norwalk CT 7 06/16/94 BIF Regular
NTMG Nutmeg Federal S&LA NASDAQ Danbury CT 3 NA SAIF Not Avail.
NWEQ Northwest Equity Corp. NASDAQ Amery WI 3 10/11/94 SAIF Regular
NWSB Northwest Savings Bank (MHC) NASDAQ Warren PA 57 11/07/94 SAIF Mutual HC
NYB New York Bancorp Inc. NYSE Douglaston NY 33 01/28/88 SAIF Regular
OCFC Ocean Financial Corp. NASDAQ Toms River NJ 10 07/03/96 SAIF Regular
OCN Ocwen Financial Corp. NYSE West Palm Beach FL 1 NA SAIF Not Avail.
OFCP Ottawa Financial Corp. NASDAQ Holland MI 26 08/19/94 SAIF Regular
OHSL OHSL Financial Corp. NASDAQ Cincinnati OH 5 02/10/93 SAIF Regular
PALM Palfed Inc. NASDAQ Aiken SC 22 12/15/85 SAIF Regular
PAMM PacificAmerica Money Center NASDAQ Woodland Hills CA 1 06/25/96 BIF Not Avail.
PBCI Pamrapo Bancorp Inc. NASDAQ Bayonne NJ 8 11/14/89 SAIF Regular
PBCT People's Bank (MHC) NASDAQ Bridgeport CT 106 07/06/88 BIF Mutual HC
PBHC Oswego City Savings Bk (MHC) NASDAQ Oswego NY 5 11/16/95 BIF Mutual HC
PBKB People's Bancshares Inc. NASDAQ New Bedford MA 14 10/30/86 BIF Regular
PCBC Perry County Financial Corp. NASDAQ Perryville MO 1 02/13/95 SAIF Regular
PCCI Pacific Crest Capital NASDAQ Agoura Hills CA 3 NA BIF Not Avail.
PDB Piedmont Bancorp Inc. AMSE Hillsborough NC 1 12/08/95 SAIF Regular
PEEK Peekskill Financial Corp. NASDAQ Peekskill NY 3 12/29/95 SAIF Regular
PERM Permanent Bancorp Inc. NASDAQ Evansville IN 12 04/04/94 SAIF Regular
PERT Perpetual Bank (MHC) NASDAQ Anderson SC 6 10/26/93 SAIF Mutual HC
PETE Primary Bank NASDAQ Peterborough NH 9 10/14/93 BIF Regular
PFDC Peoples Bancorp NASDAQ Auburn IN 6 07/07/87 SAIF Regular
PFED Park Bancorp Inc. NASDAQ Chicago IL 3 08/12/96 SAIF Regular
PFFB PFF Bancorp Inc. NASDAQ Pomona CA 23 03/29/96 SAIF Regular
PFFC Peoples Financial Corp. NASDAQ Massillon OH 2 09/13/96 SAIF Regular
PFNC Progress Financial Corp. NASDAQ Blue Bell PA 10 07/18/83 SAIF Regular
PFSB PennFed Financial Services Inc NASDAQ West Orange NJ 17 07/15/94 SAIF Regular
PFSL Pocahontas FS&LA (MHC) NASDAQ Pocahontas AR 6 04/05/94 SAIF Mutual HC
PHBK Peoples Heritage Finl Group NASDAQ Portland ME 135 12/04/86 BIF Regular
PHFC Pittsburgh Home Financial Corp NASDAQ Pittsburgh PA 7 04/01/96 SAIF Regular
PHSB Peoples Home Savings Bk (MHC) NASDAQ Beaver Falls PA 9 07/10/97 SAIF Mutual HC
PKPS Poughkeepsie Financial Corp. NASDAQ Poughkeepsie NY 15 11/19/85 SAIF Regular
PLSK Pulaski Savings Bank (MHC) NASDAQ Springfield NJ 6 04/03/97 SAIF Mutual HC
PMFI Perpetual Midwest Financial NASDAQ Cedar Rapids IA 5 03/31/94 SAIF Regular
PRBC Prestige Bancorp Inc. NASDAQ Pleasant Hills PA 3 06/27/96 SAIF Regular
PROV Provident Financial Holdings NASDAQ Riverside CA 9 06/28/96 SAIF Regular
PSBK Progressive Bank Inc. NASDAQ Fishkill NY 17 08/01/84 BIF Regular
5
Corporate
--------------------------------------------------------------------------
Deposit
Number Insurance
of Agency Conversion
Ticker Short Name Exchange City State Offices IPO Date (BIF/SAIF) Type
- -------------------------------------- --------------------------------------------------------------------------
PSFC Peoples-Sidney Financial Corp. NASDAQ Sidney OH 1 04/28/97 SAIF Regular
PSFI PS Financial Inc. NASDAQ Chicago IL 1 11/27/96 SAIF Regular
PTRS Potters Financial Corp. NASDAQ East Liverpool OH 4 12/31/93 SAIF Regular
PULB Pulaski Bank, Svgs Bank (MHC) NASDAQ St. Louis MO 5 05/11/94 SAIF Mutual HC
PULS Pulse Bancorp NASDAQ South River NJ 4 09/18/86 SAIF Regular
PVFC PVF Capital Corp. NASDAQ Bedford Heights OH 9 12/30/92 SAIF Supervisory
PVSA Parkvale Financial Corporation NASDAQ Monroeville PA 29 07/16/87 SAIF Regular
PWBC PennFirst Bancorp Inc. NASDAQ Ellwood City PA 11 06/13/90 SAIF Regular
PWBK Pennwood Bancorp Inc. NASDAQ Pittsburgh PA 3 07/15/96 SAIF Regular
QCBC Quaker City Bancorp Inc. NASDAQ Whittier CA 8 12/30/93 SAIF Regular
QCFB QCF Bancorp Inc. NASDAQ Virginia MN 2 04/03/95 SAIF Regular
QCSB Queens County Bancorp Inc. NASDAQ Flushing NY 10 11/23/93 BIF Regular
RARB Raritan Bancorp Inc. NASDAQ Raritan NJ 6 03/01/87 BIF Regular
RCSB RCSB Financial Inc. NASDAQ Rochester NY 38 04/29/86 BIF Regular
REDF RedFed Bancorp Inc. NASDAQ Redlands CA 14 04/08/94 SAIF Regular
RELI Reliance Bancshares Inc. NASDAQ Milwaukee WI 1 04/19/96 SAIF Regular
RELY Reliance Bancorp Inc. NASDAQ Garden City NY 28 03/31/94 SAIF Regular
RIVR River Valley Bancorp NASDAQ Madison IN 6 12/20/96 SAIF Regular
ROSE TR Financial Corp. NASDAQ Garden City NY 15 06/29/93 BIF Regular
RSLN Roslyn Bancorp Inc. NASDAQ Roslyn NY 8 01/13/97 BIF Regular
RVSB Riverview Savings Bank (MHC) NASDAQ Camas WA 9 10/26/93 SAIF Mutual HC
SBFL SB of the Finger Lakes (MHC) NASDAQ Geneva NY 4 11/11/94 SAIF Mutual HC
SBOS Boston Bancorp (The) NASDAQ South Boston MA 7 11/09/83 BIF Regular
SCBS Southern Community Bancshares NASDAQ Cullman AL 1 12/23/96 SAIF Regular
SCCB S. Carolina Community Bancshrs NASDAQ Winnsboro SC 3 07/07/94 SAIF Regular
SECP Security Capital Corp. NASDAQ Milwaukee WI 42 01/03/94 SAIF Regular
SFED SFS Bancorp Inc. NASDAQ Schenectady NY 4 06/30/95 SAIF Regular
SFFC StateFed Financial Corporation NASDAQ Des Moines IA 2 01/05/94 SAIF Regular
SFIN Statewide Financial Corp. NASDAQ Jersey City NJ 16 10/02/95 SAIF Regular
SFNB Security First Network Bank NASDAQ Atlanta GA 1 NA SAIF Not Avail.
SFSB SuburbFed Financial Corp. NASDAQ Flossmoor IL 12 03/04/92 SAIF Regular
SFSL Security First Corp. NASDAQ Mayfield Heights OH 14 01/22/88 SAIF Regular
SGVB SGV Bancorp Inc. NASDAQ West Covina CA 8 06/29/95 SAIF Regular
SHEN First Shenango Bancorp Inc. NASDAQ New Castle PA 4 04/06/93 SAIF Regular
SISB SIS Bancorp Inc. NASDAQ Springfield MA 24 02/08/95 BIF Regular
SKAN Skaneateles Bancorp Inc. NASDAQ Skaneateles NY 8 06/02/86 BIF Regular
SKBO First Carnegie Deposit (MHC) NASDAQ Carnegie PA 3 04/04/97 SAIF Mutual HC
SMBC Southern Missouri Bancorp Inc. NASDAQ Poplar Bluff MO 8 04/13/94 SAIF Regular
SMFC Sho-Me Financial Corp. NASDAQ Mt. Vernon MO 8 07/01/94 SAIF Regular
SOBI Sobieski Bancorp Inc. NASDAQ South Bend IN 3 03/31/95 SAIF Regular
SOPN First Savings Bancorp Inc. NASDAQ Southern Pines NC 5 01/06/94 SAIF Regular
SOSA Somerset Savings Bank NASDAQ Somerville MA 5 07/09/86 BIF Regular
SPBC St. Paul Bancorp Inc NASDAQ Chicago IL 52 05/18/87 SAIF Regular
SRN Southern Banc Company Inc. AMSE Gadsden AL 4 10/05/95 SAIF Regular
SSB Scotland Bancorp Inc AMSE Laurinburg NC 2 04/01/96 SAIF Regular
SSFC South Street Financial Corp. NASDAQ Albemarle NC 2 10/03/96 SAIF Regular
SSM Stone Street Bancorp Inc. AMSE Mocksville NC 2 04/01/96 SAIF Regular
STFR St. Francis Capital Corp. NASDAQ Milwaukee WI 23 06/21/93 SAIF Regular
STND Standard Financial Inc. NASDAQ Chicago IL 14 08/01/94 SAIF Regular
STSA Sterling Financial Corp. NASDAQ Spokane WA 41 NA SAIF Not Avail.
SVRN Sovereign Bancorp Inc. NASDAQ Wyomissing PA 149 08/12/86 SAIF Regular
SWBI Southwest Bancshares NASDAQ Hometown IL 6 06/24/92 SAIF Regular
SWCB Sandwich Co-operative Bank NASDAQ Sandwich MA 11 07/25/86 BIF Regular
SZB SouthFirst Bancshares Inc. AMSE Sylacauga AL 2 02/14/95 SAIF Regular
TBK Tolland Bank AMSE Tolland CT 7 12/19/86 BIF Regular
THR Three Rivers Financial Corp. AMSE Three Rivers MI 4 08/24/95 SAIF Regular
THRD TF Financial Corporation NASDAQ Newtown PA 14 07/13/94 SAIF Regular
TPNZ Tappan Zee Financial Inc. NASDAQ Tarrytown NY 1 10/05/95 SAIF Regular
TRIC Tri-County Bancorp Inc. NASDAQ Torrington WY 2 09/30/93 SAIF Regular
TSBS Peoples Bancorp Inc. (MHC) NASDAQ Lawrenceville NJ 14 08/03/95 BIF Mutual HC
TSH Teche Holding Co. AMSE Franklin LA 9 04/19/95 SAIF Regular
TWIN Twin City Bancorp NASDAQ Bristol TN 3 01/04/95 SAIF Regular
UBMT United Financial Corp. NASDAQ Great Falls MT 4 09/23/86 SAIF Regular
UFRM United Federal Savings Bank NASDAQ Rocky Mount NC 13 07/01/80 SAIF Regular
6
Corporate
--------------------------------------------------------------------------
Deposit
Number Insurance
of Agency Conversion
Ticker Short Name Exchange City State Offices IPO Date (BIF/SAIF) Type
- -------------------------------------- --------------------------------------------------------------------------
USAB USABancshares, Inc. NASDAQ Philadelphia PA 1 NA BIF Not Avail.
VABF Virginia Beach Fed. Financial NASDAQ Virginia Beach VA 14 11/01/80 SAIF Not Avail.
VFFC Virginia First Financial Corp. NASDAQ Petersburg VA 24 01/01/78 SAIF Not Avail.
WAMU Washington Mutual Inc. NASDAQ Seattle WA 523 03/11/83 BIF Regular
WAYN Wayne Savings & Loan Co. (MHC) NASDAQ Wooster OH 6 06/25/93 SAIF Mutual HC
WBST Webster Financial Corp. NASDAQ Waterbury CT 83 12/12/86 SAIF Regular
WCBI Westco Bancorp NASDAQ Westchester IL 1 06/26/92 SAIF Regular
WCFB Webster City Federal SB (MHC) NASDAQ Webster City IA 1 08/15/94 SAIF Mutual HC
WEFC Wells Financial Corp. NASDAQ Wells MN 7 04/11/95 SAIF Regular
WEHO Westwood Homestead Fin. Corp. NASDAQ Cincinnati OH 2 09/30/96 SAIF Regular
WES Westcorp NYSE Irvine CA 26 05/01/86 SAIF Not Avail.
WFI Winton Financial Corp. AMSE Cincinnati OH 5 08/04/88 SAIF Regular
WFSG Wilshire Financial Services NASDAQ Portland OR 2 12/19/96 SAIF Not Avail.
WFSL Washington Federal Inc. NASDAQ Seattle WA 104 11/17/82 SAIF Regular
WHGB WHG Bancshares Corp. NASDAQ Lutherville MD 5 04/01/96 SAIF Regular
WOFC Western Ohio Financial Corp. NASDAQ Springfield OH 10 07/29/94 SAIF Regular
WRNB Warren Bancorp Inc. NASDAQ Peabody MA 6 07/09/86 BIF Regular
WSB Washington Savings Bank, FSB AMSE Waldorf MD 4 NA SAIF Not Avail.
WSFS WSFS Financial Corporation NASDAQ Wilmington DE 16 11/26/86 BIF Regular
WSTR WesterFed Financial Corp. NASDAQ Missoula MT 35 01/10/94 SAIF Regular
WVFC WVS Financial Corp. NASDAQ Pittsburgh PA 5 11/29/93 SAIF Regular
WWFC Westwood Financial Corporation NASDAQ Westwood NJ 2 06/07/96 SAIF Not Avail.
WYNE Wayne Bancorp Inc. NASDAQ Wayne NJ 5 06/27/96 SAIF Regular
YFCB Yonkers Financial Corporation NASDAQ Yonkers NY 4 04/18/96 SAIF Regular
YFED York Financial Corp. NASDAQ York PA 22 02/01/84 SAIF Regular
-------------------------------------------------------------------------
Average 409
7
Corporate
--------------------------------------------------------------------------
Deposit
Number Insurance
of Agency Conversion
Ticker Short Name Exchange City State Offices IPO Date (BIF/SAIF) Type
- -------------------------------------- --------------------------------------------------------------------------
Comparable Thrift Data
ALBC Albion Banc Corp. NASDAQ Albion NY 2 07/26/93 SAIF Regular
ATSB AmTrust Capital Corp. NASDAQ Peru IN 2 03/28/95 SAIF Regular
CLAS Classic Bancshares Inc. NASDAQ Ashland KY 3 12/29/95 SAIF Regular
FFDF FFD Financial Corp. NASDAQ Dover OH 1 04/03/96 SAIF Regular
HFFB Harrodsburg First Fin Bancorp NASDAQ Harrodsburg KY 2 10/04/95 SAIF Regular
HZFS Horizon Financial Svcs Corp. NASDAQ Oskaloosa IA 3 06/30/94 SAIF Regular
LXMO Lexington B&L Financial Corp. NASDAQ Lexington MO 1 06/06/96 SAIF Regular
NBSI North Bancshares Inc. NASDAQ Chicago IL 2 12/21/93 SAIF Regular
PRBC Prestige Bancorp Inc. NASDAQ Pleasant Hills PA 3 06/27/96 SAIF Regular
SOBI Sobieski Bancorp Inc. NASDAQ South Bend IN 3 03/31/95 SAIF Regular
SZB SouthFirst Bancshares Inc. AMSE Sylacauga AL 2 02/14/95 SAIF Regular
-------------------------------------------------------------------------
Average 11
Maximum
Minimum
8
Key Financial Data as of The Most Recent Quarter
-----------------------------------------------------
Total Loans/ Loans/ Deposits/ Borrowings/
Assets Deposits Assets Assets Assets
Ticker Short Name ($000) (%) (%) (%) (%)
- -------------------------------------- -----------------------------------------------------
CAL California Federal Bank, a FSB 30,876,284 124.48 67.16 53.95 34.54
CCMD Chevy Chase Bank, FSB 6,167,982 72.67 56.98 78.42 11.47
AABC Access Anytime Bancorp, Inc. 104,653 55.84 51.10 91.51 0.29
AADV Advantage Bancorp Inc. 1,019,510 87.47 56.28 64.34 24.50
ABBK Abington Bancorp Inc. 501,256 97.38 60.34 61.97 30.20
ABCL Alliance Bancorp Inc. 1,404,263 100.21 72.86 72.70 16.28
ABCW Anchor BanCorp Wisconsin 1,925,866 114.52 78.87 68.87 23.23
AFBC Advance Financial Bancorp 103,578 107.58 82.37 76.57 7.49
AFCB Affiliated Community Bancorp 1,090,431 101.35 62.87 62.03 27.57
AFED AFSALA Bancorp Inc. 159,181 55.4 47.07 84.96 0.95
AFFFZ America First Financial Fund 2,190,646 78.65 67.82 86.23 4.54
AHCI Ambanc Holding Co. 484,979 83.26 55.99 67.25 18.11
AHM Ahmanson & Company (H.F.) 47,532,068 95.04 65.47 68.88 23.24
ALBC Albion Banc Corp. 68,628 93.78 71.50 76.24 13.50
ALBK ALBANK Financial Corp. 3,602,227 87.49 72.53 82.91 3.69
AMFC AMB Financial Corp. 94,179 108.84 75.67 69.53 14.33
ANA Acadiana Bancshares Inc. 267,000 104.30 74.02 70.97 10.96
ANBK American National Bancorp 505,318 99.12 64.64 65.21 24.13
ANDB Andover Bancorp Inc. 1,250,943 96.83 71.23 73.56 17.68
ASBI Ameriana Bancorp 397,730 89.66 73.66 82.16 5.46
ASBP ASB Financial Corp. 112,264 83.51 66.77 79.95 3.01
ASFC Astoria Financial Corp. 7,664,495 67.88 40.25 59.30 31.91
ATSB AmTrust Capital Corp. 71,031 99.62 71.64 71.92 17.12
AVND Avondale Financial Corp. 607,273 91.05 57.29 62.92 25.14
BANC BankAtlantic Bancorp Inc. 2,730,474 110.92 71.83 64.75 26.60
BDJI First Federal Bancorporation 110,589 64.71 48.18 74.46 13.38
BFD BostonFed Bancorp Inc. 975,922 133.98 79.87 59.61 30.88
BFFC Big Foot Financial Corp. 212,245 69.60 41.04 58.97 21.96
BFSB Bedford Bancshares Inc. 135,455 116.16 85.79 73.86 10.70
BKC American Bank of Connecticut 605,857 81.16 59.96 73.88 17.31
BKCT Bancorp Connecticut Inc. 428,362 83.30 60.64 72.79 16.02
BKUNA BankUnited Financial Corp. 1,807,192 135.29 82.42 60.92 24.75
BNKU Bank United Corp. 11,439,050 158.30 72.65 45.89 43.99
BPLS Bank Plus Corp. 3,534,002 105.38 80.56 76.45 16.12
BSBC Branford Savings Bank 186,555 74.94 65.63 87.58 1.61
BTHL Bethel Bancorp 218,187 114.79 77.14 67.20 22.23
BVCC Bay View Capital Corp. 3,096,213 147.59 75.23 50.97 41.72
BWFC Bank West Financial Corp. 155,675 110.82 73.22 66.07 18.63
BYFC Broadway Financial Corp. 122,245 91.92 80.87 87.98 0.00
CAFI Camco Financial Corp. 489,833 111.65 84.57 75.75 13.35
CAPS Capital Savings Bancorp Inc. 242,518 111.64 78.73 70.53 19.17
CASB Cascade Financial Corp. 368,126 126.12 83.87 66.50 25.39
CASH First Midwest Financial Inc. 374,824 108.06 69.21 64.04 23.54
CATB Catskill Financial Corp. 284,238 62.94 44.12 70.10 3.31
CBCI Calumet Bancorp Inc. 496,561 106.81 76.17 71.31 11.07
CBES CBES Bancorp Inc. 95,219 120.99 90.20 74.55 5.25
CBK Citizens First Financial Corp. 271,573 115.64 84.33 72.92 11.93
CBSA Coastal Bancorp Inc. 2,964,082 98.47 45.34 46.04 48.80
CBSB Charter Financial Inc. 393,268 106.54 74.28 69.72 14.83
CCFH CCF Holding Company 100,801 105.60 81.76 77.42 9.72
CEBK Central Co-operative Bank 344,420 88.08 68.13 77.36 11.90
CENB Century Bancorp Inc. 99,948 85.80 59.65 69.53 0.00
CENF CENFED Financial Corp. 2,295,523 101.89 68.54 67.27 26.78
CFB Commercial Federal Corp. 7,096,665 121.20 74.78 61.70 30.77
CFBC Community First Banking Co. 450,650 78.91 63.32 80.24 3.74
CFCP Coastal Financial Corp. 502,761 120.29 79.43 66.03 26.58
CFFC Community Financial Corp. 175,414 132.84 88.79 66.84 18.24
CFNC Carolina Fincorp Inc. 111,515 94.41 70.91 75.11 0.45
CFSB CFSB Bancorp Inc. 845,438 133.77 88.66 66.28 24.18
CFTP Community Federal Bancorp 209,035 94.93 60.37 63.59 6.71
CFX CFX Corp. 1,859,030 103.37 69.97 67.69 23.92
CIBI Community Investors Bancorp 92,304 105.51 83.34 78.99 8.46
CKFB CKF Bancorp Inc. 60,812 131.25 91.11 69.42 5.32
CLAS Classic Bancshares Inc. 130,525 87.73 66.61 75.93 8.41
9
Key Financial Data as of The Most Recent Quarter
-----------------------------------------------------
Total Loans/ Loans/ Deposits/ Borrowings/
Assets Deposits Assets Assets Assets
Ticker Short Name ($000) (%) (%) (%) (%)
- -------------------------------------- -----------------------------------------------------
CMRN Cameron Financial Corp 208,105 141.36 84.79 59.98 16.94
CMSB Commonwealth Bancorp Inc. 2,288,986 81.38 54.00 66.36 20.65
CMSV Community Savings FA (MHC) 699,787 76.31 58.95 77.24 9.22
CNIT CENIT Bancorp Inc. 709,550 95.48 68.71 71.96 20.18
CNSB CNS Bancorp Inc. 98,351 89.13 66.40 74.50 0.00
CNY Carver Bancorp Inc. 413,777 87.99 57.32 65.14 26.11
COFI Charter One Financial 14,564,703 116.77 62.35 53.40 38.18
CONE Conestoga Bancorp, Inc. 494,348 28.70 23.21 80.86 2.02
COOP Cooperative Bankshares Inc. 352,438 99.67 80.03 80.30 11.41
CRZY Crazy Woman Creek Bancorp 54,275 97.48 51.47 52.80 20.41
CSA Coast Savings Financial 9,102,743 95.95 67.59 70.45 23.37
CSBF CSB Financial Group Inc. 48,844 74.99 55.73 74.31 0.00
CTZN CitFed Bancorp Inc. 3,097,515 109.92 61.24 55.71 36.61
CVAL Chester Valley Bancorp Inc. 323,673 99.71 80.33 80.56 9.51
DCBI Delphos Citizens Bancorp Inc. 107,166 104.80 74.25 70.85 0.00
DIBK Dime Financial Corp. 873,878 51.53 44.57 86.49 4.92
DIME Dime Community Bancorp Inc. 1,315,026 77.91 57.08 73.26 10.61
DME Dime Bancorp Inc. 20,087,176 88.66 58.86 66.39 26.40
DNFC D & N Financial Corp. 1,608,837 116.07 73.61 63.42 29.77
DSL Downey Financial Corp. 5,885,670 116.96 92.03 78.68 13.55
EBSI Eagle Bancshares 848,490 104.65 71.43 68.25 19.34
EFBC Empire Federal Bancorp Inc. 108,566 66.68 40.36 60.52 0.92
EFBI Enterprise Federal Bancorp 264,266 126.44 69.79 55.20 32.16
EGFC Eagle Financial Corp. 2,013,359 82.30 56.63 68.81 20.40
EGLB Eagle BancGroup Inc. 174,310 92.20 69.49 75.37 12.08
EIRE Emerald Isle Bancorp Inc. 425,014 80.38 68.51 85.23 7.22
EMLD Emerald Financial Corp. 603,080 87.17 75.47 86.58 5.10
EQSB Equitable Federal Savings Bank 308,197 87.64 69.79 79.63 14.44
ESBK Elmira Savings Bank (The) 227,828 83.09 75.63 91.03 2.00
ESX Essex Bancorp Inc. 190,085 108.75 83.53 76.81 14.24
ETFS East Texas Financial Services 112,697 61.43 48.68 79.24 1.74
FAB FirstFed America Bancorp Inc. 1,020,876 121.96 86.76 71.13 14.81
FBBC First Bell Bancorp Inc. 714,366 111.56 79.68 71.42 15.12
FBCI Fidelity Bancorp Inc. 489,843 113.79 77.90 68.46 18.68
FBCV 1ST Bancorp 270,490 121.79 64.98 53.35 37.08
FBER 1st Bergen Bancorp 284,765 57.50 43.27 75.25 9.60
FBHC Fort Bend Holding Corp. 318,668 60.34 50.85 84.28 5.70
FBNW FirstBank Corp. 154,143 112.69 82.01 72.78 17.92
FBSI First Bancshares Inc. 163,973 114.36 82.08 71.77 14.37
FCB Falmouth Co-Operative Bank 93,838 72.70 54.43 74.87 0.81
FCBF FCB Financial Corp. 526,203 128.08 77.31 60.36 22.27
FCME First Coastal Corp. 152,386 88.68 68.35 77.07 13.55
FDEF First Defiance Financial 552,225 111.92 77.70 69.43 8.58
FED FirstFed Financial Corp. 4,193,203 162.79 76.11 46.75 47.32
FESX First Essex Bancorp Inc. 1,245,415 98.72 57.78 58.53 32.88
FFBA First Colorado Bancorp Inc. 1,510,376 96.74 73.37 75.85 9.43
FFBH First Federal Bancshares of AR 535,204 93.72 77.77 82.99 1.12
FFBI First Financial Bancorp Inc. 84,531 79.68 64.59 81.07 9.11
FFBS FFBS BanCorp Inc. 130,762 89.92 71.38 79.38 0.00
FFBZ First Federal Bancorp Inc. 201,262 134.02 85.95 64.13 27.55
FFCH First Financial Holdings Inc. 1,667,178 129.87 83.29 64.13 27.92
FFDB FirstFed Bancorp Inc. 176,528 80.41 71.11 88.44 0.57
FFDF FFD Financial Corp. 85,286 97.24 62.33 64.10 10.06
FFED Fidelity Federal Bancorp 250,285 113.22 84.05 74.24 19.53
FFES First Federal of East Hartford 983,594 31.27 18.42 58.90 34.09
FFFC FFVA Financial Corp. 558,886 80.89 59.30 73.31 13.06
FFFD North Central Bancshares Inc. 212,869 128.09 81.99 64.01 12.47
FFFG F.F.O. Financial Group Inc. 323,020 82.41 71.78 87.10 4.39
FFFL Fidelity Bankshares Inc. (MHC) 999,289 94.64 73.83 78.01 11.51
FFHC First Financial Corp. 5,931,501 79.46 60.52 76.16 15.31
FFHH FSF Financial Corp. 378,233 119.41 65.35 54.73 33.28
FFHS First Franklin Corporation 226,944 77.75 68.34 87.89 2.73
FFIC Flushing Financial Corp. 860,031 80.56 55.31 68.66 14.67
FFKY First Federal Financial Corp. 377,380 117.12 87.31 74.55 11.00
10
Key Financial Data as of The Most Recent Quarter
-----------------------------------------------------
Total Loans/ Loans/ Deposits/ Borrowings/
Assets Deposits Assets Assets Assets
Ticker Short Name ($000) (%) (%) (%) (%)
- -------------------------------------- -----------------------------------------------------
FFLC FFLC Bancorp Inc. 387,097 90.65 70.69 77.98 7.75
FFOH Fidelity Financial of Ohio 524,743 100.88 82.76 82.04 4.28
FFPB First Palm Beach Bancorp Inc. 1,666,396 91.77 67.59 73.65 17.69
FFSL First Independence Corp. 110,876 98.53 66.00 66.99 21.01
FFSX First Fed SB of Siouxland(MHC) 468,568 104.99 73.21 69.73 20.59
FFWC FFW Corp. 180,056 98.81 63.72 64.49 24.88
FFWD Wood Bancorp Inc. 163,918 109.41 80.46 73.54 13.28
FFYF FFY Financial Corp. 599,249 102.99 77.38 75.13 9.97
FGHC First Georgia Holding Inc. 156,383 105.35 85.03 80.71 8.85
FIBC Financial Bancorp Inc. 282,485 73.84 54.73 74.12 15.21
FISB First Indiana Corporation 1,520,762 117.07 84.21 71.93 17.29
FKFS First Keystone Financial 320,797 82.17 58.59 71.31 19.42
FKKY Frankfort First Bancorp Inc. 132,451 141.24 91.66 64.90 16.61
FLAG FLAG Financial Corp. 221,926 86.05 69.94 81.28 7.61
FLFC First Liberty Financial Corp. 1,288,919 93.15 68.83 73.89 17.43
FLGS Flagstar Bancorp Inc. 1,596,289 157.37 89.15 56.65 26.13
FLKY First Lancaster Bancshares 40,448 159.08 86.38 54.30 10.34
FMBD First Mutual Bancorp Inc. 417,695 93.25 73.58 78.90 7.06
FMCO FMS Financial Corporation 554,925 65.42 56.01 85.61 6.84
FMSB First Mutual Savings Bank 432,034 101.49 80.97 79.77 11.95
FNGB First Northern Capital Corp. 637,725 119.73 89.72 74.94 12.12
FOBC Fed One Bancorp 356,718 61.64 44.24 71.77 16.55
FPRY First Financial Bancorp 240,379 88.86 77.63 87.36 5.41
FRC First Republic Bancorp 2,238,033 140.78 88.35 62.76 29.11
FSBI Fidelity Bancorp Inc. 363,302 74.48 48.92 65.69 26.26
FSFC First Southeast Financial Corp 334,751 92.78 78.38 84.48 4.48
FSLA First Savings Bank (MHC) 1,032,809 67.71 53.44 78.93 10.69
FSNJ Bayonne Bancshares Inc. 602,201 53.32 39.21 73.53 16.78
FSPG First Home Bancorp Inc. 522,396 88.70 52.47 59.16 33.74
FSPT FirstSpartan Financial Corp. 388,311 103.08 89.77 87.09 0.00
FSSB First FS&LA of San Bernardino 103,674 75.29 71.56 95.05 0.00
FSTC First Citizens Corp. 338,857 92.52 76.61 82.80 5.11
FTF Texarkana First Financial Corp 171,358 103.60 84.72 81.78 0.91
FTFC First Federal Capital Corp. 1,571,981 111.91 76.88 68.70 23.76
FTNB Fulton Bancorp Inc. 99,464 127.14 85.77 67.46 6.54
FTSB Fort Thomas Financial Corp. 96,940 124.04 90.05 72.60 9.95
FWWB First SB of Washington Bancorp 1,074,166 129.63 66.56 51.35 32.96
GAF GA Financial Inc. 749,748 61.19 37.44 61.18 22.52
GBCI Glacier Bancorp Inc. 567,610 123.89 72.03 58.14 29.76
GDVS Greater Delaware Valley (MHC) 244,384 80.75 62.15 76.96 11.09
GDW Golden West Financial 39,095,082 133.29 81.95 61.48 30.27
GFCO Glenway Financial Corp. 287,088 106.00 83.76 79.02 9.79
GFED Guaranty Federal SB (MHC) 199,554 105.99 80.34 75.79 9.10
GFSB GFS Bancorp Inc. 92,063 132.86 85.94 64.69 22.77
GOSB GSB Financial Corp. 154,649 NA NA 62.41 0.00
GPT GreenPoint Financial Corp. 13,300,046 73.82 62.04 84.04 1.78
GRTR Greater New York Savings Bank 2,579,098 59.67 38.02 63.71 26.73
GSB Golden State Bancorp Inc. 16,218,259 128.98 74.42 57.69 34.33
GSBC Great Southern Bancorp Inc. 707,841 130.48 84.66 64.88 25.52
GSFC Green Street Financial Corp. 174,605 117.35 72.88 62.10 0.00
GSLA GS Financial Corp. 123,245 80.11 37.51 46.82 6.49
GTFN Great Financial Corporation 3,046,227 106.99 66.51 62.16 27.40
GTPS Great American Bancorp 136,977 94.74 73.57 77.65 0.00
GUPB GFSB Bancorp Inc. 86,911 82.01 52.16 63.61 18.93
GWBC Gateway Bancorp Inc. 63,828 45.52 33.04 72.57 0.00
HALL Hallmark Capital Corp. 409,820 97.80 67.18 68.69 22.47
HARB Harbor Florida Bancorp (MHC) 1,116,718 91.75 74.35 81.03 9.00
HARL Harleysville Savings Bank 336,666 89.80 72.79 81.05 10.78
HARS Harris Savings Bank (MHC) 2,044,294 76.42 43.46 56.87 33.87
HAVN Haven Bancorp Inc. 1,781,545 79.55 55.20 69.39 23.16
HBBI Home Building Bancorp 45,064 80.40 62.83 78.14 8.21
HBEI Home Bancorp of Elgin Inc. 352,577 112.76 79.66 70.65 1.42
HBFW Home Bancorp 334,862 95.19 81.78 85.92 0.00
HBNK Highland Federal Bank FSB 504,381 109.32 79.66 72.87 18.34
11
Key Financial Data as of The Most Recent Quarter
-----------------------------------------------------
Total Loans/ Loans/ Deposits/ Borrowings/
Assets Deposits Assets Assets Assets
Ticker Short Name ($000) (%) (%) (%) (%)
- -------------------------------------- -----------------------------------------------------
HBS Haywood Bancshares Inc. 150,416 96.18 74.69 77.65 6.98
HCBB HCB Bancshares Inc. 180,417 63.16 54.19 85.79 5.54
HCFC Home City Financial Corp. 68,235 108.24 78.99 72.98 5.87
HEMT HF Bancorp Inc. 984,749 NA NA 85.27 5.08
HFFB Harrodsburg First Fin Bancorp 108,950 102.71 73.91 71.96 0.00
HFFC HF Financial Corp. 561,664 107.14 79.77 74.45 13.31
HFGI Harrington Financial Group 446,797 69.15 21.08 30.48 63.02
HFNC HFNC Financial Corp. 895,394 150.04 74.37 49.57 30.94
HFSA Hardin Bancorp Inc. 108,018 75.38 51.76 68.66 17.59
HHFC Harvest Home Financial Corp. 87,596 79.16 51.58 65.15 22.43
HIFS Hingham Instit. for Savings 217,586 104.60 76.01 72.67 15.83
HMCI HomeCorp Inc. 331,608 88.11 80.95 91.88 0.60
HMLK Hemlock Federal Financial Corp 164,913 44.11 34.63 78.50 0.91
HMNF HMN Financial Inc. 566,865 95.57 61.60 64.46 20.17
HOMF Home Federal Bancorp 682,796 110.63 85.52 77.30 13.53
HPBC Home Port Bancorp Inc. 198,748 125.20 82.61 65.98 22.60
HRBF Harbor Federal Bancorp Inc. 216,370 86.74 68.38 78.84 6.24
HRZB Horizon Financial Corp. 518,661 95.31 78.74 82.61 0.00
HTHR Hawthorne Financial Corp. 863,096 98.07 85.72 87.41 6.08
HVFD Haverfield Corp. 346,157 110.43 86.47 78.30 10.40
HWEN Home Financial Bancorp 42,508 131.32 80.81 61.53 21.17
HZFS Horizon Financial Svcs Corp. 85,969 91.02 61.03 67.05 22.22
IBSF IBS Financial Corp. 733,344 36.08 27.79 77.04 4.85
IFSB Independence Federal Svgs Bank 258,460 79.51 61.17 76.93 15.03
INBI Industrial Bancorp 346,596 114.30 87.32 76.40 5.19
INCB Indiana Community Bank SB 91,329 90.47 78.66 86.95 0.00
IPSW Ipswich Savings Bank 189,379 91.28 73.64 80.68 12.14
ISBF ISB Financial Corporation 947,107 79.96 65.57 82.00 4.99
ITLA ITLA Capital Corp. 850,201 102.31 82.91 81.04 7.23
IWBK InterWest Bancorp Inc. 1,832,582 94.61 60.61 64.06 28.48
JOAC Joachim Bancorp Inc. 34,938 98.81 69.59 70.43 0.00
JSB JSB Financial Inc. 1,531,115 79.56 58.86 73.97 0.00
JSBA Jefferson Savings Bancorp 1,292,021 91.00 75.80 83.29 6.75
JXSB Jacksonville Savings Bk (MHC) 162,746 90.73 79.48 87.60 0.15
JXVL Jacksonville Bancorp Inc. 226,182 NA NA 82.06 0.88
KFBI Klamath First Bancorp 727,903 127.99 73.18 57.18 21.42
KNK Kankakee Bancorp Inc. 341,678 84.40 68.65 81.35 7.00
KSAV KS Bancorp Inc. 106,121 107.99 85.31 79.00 6.60
KSBK KSB Bancorp Inc. 145,888 104.44 74.98 71.79 19.44
KYF Kentucky First Bancorp Inc. 88,959 88.91 55.41 62.32 20.20
LARK Landmark Bancshares Inc. 228,100 107.40 67.53 62.87 21.98
LARL Laurel Capital Group Inc. 211,987 84.81 70.02 82.56 5.21
LFBI Little Falls Bancorp Inc. 299,989 57.38 43.07 75.05 11.17
LFCO Life Financial Corp. 195,290 98.61 68.94 69.91 5.12
LFED Leeds Federal Savings Bk (MHC) 281,899 75.56 61.67 81.62 0.24
LIFB Life Bancorp Inc. 1,488,257 89.20 44.26 49.62 38.95
LISB Long Island Bancorp Inc. 5,908,737 98.33 61.68 62.73 25.64
LOGN Logansport Financial Corp. 83,152 98.87 71.82 72.64 5.41
LONF London Financial Corporation 38,240 100.24 77.55 77.37 2.09
LSBI LSB Financial Corp. 194,117 131.61 88.68 67.38 23.55
LSBX Lawrence Savings Bank 366,318 63.97 43.58 68.12 22.11
LVSB Lakeview Financial 481,646 56.35 43.70 77.55 12.20
LXMO Lexington B&L Financial Corp. 59,236 107.94 76.69 71.05 0.00
MAFB MAF Bancorp Inc. 3,321,464 111.28 77.11 69.30 21.12
MARN Marion Capital Holdings 173,304 123.23 86.59 70.26 4.75
MASB MASSBANK Corp. 905,417 32.04 28.25 88.19 0.10
MBB MSB Bancorp Inc. 813,902 49.66 43.98 88.55 0.03
MBBC Monterey Bay Bancorp Inc. 412,810 80.11 61.81 77.16 10.85
MBLF MBLA Financial Corp. 234,824 124.64 54.12 43.42 43.81
MBSP Mitchell Bancorp Inc. 33,038 160.59 85.90 53.49 0.00
MCBN Mid-Coast Bancorp Inc. 59,739 117.77 83.57 70.96 19.99
MCBS Mid Continent Bancshares Inc. 408,590 92.61 55.99 60.45 28.41
MDBK Medford Savings Bank 1,072,557 69.40 53.36 76.88 13.64
MECH Mechanics Savings Bank 823,575 83.18 66.62 80.09 8.49
12
Key Financial Data as of The Most Recent Quarter
-----------------------------------------------------
Total Loans/ Loans/ Deposits/ Borrowings/
Assets Deposits Assets Assets Assets
Ticker Short Name ($000) (%) (%) (%) (%)
- -------------------------------------- -----------------------------------------------------
MERI Meritrust Federal SB 228,485 58.88 53.16 90.29 0.00
METF Metropolitan Financial Corp. 821,280 104.49 84.55 80.92 12.79
MFBC MFB Corp. 248,241 111.63 75.33 67.48 17.69
MFCX Marshalltown Financial Corp. 127,528 59.70 49.81 83.44 0.00
MFFC Milton Federal Financial Corp. 199,886 87.20 60.50 69.38 16.82
MFLR Mayflower Co-operative Bank 125,671 73.08 58.45 79.98 9.55
MFSL Maryland Federal Bancorp 1,157,445 125.32 87.42 69.75 19.74
MGNL Magna Bancorp Inc. 1,353,242 102.53 69.35 67.64 19.10
MIFC Mid-Iowa Financial Corp. 125,541 81.26 52.80 64.98 24.29
MIVI Mississippi View Holding Co. 69,775 81.70 64.81 79.33 0.00
MLBC ML Bancorp Inc. 2,071,285 100.16 43.70 43.63 45.88
MONT Montgomery Financial Corp. 93,627 115.47 89.62 77.61 11.14
MRKF Market Financial Corp. 56,578 72.14 45.80 63.48 0.00
MSBF MSB Financial Inc. 74,698 165.90 92.63 55.83 25.94
MSBK Mutual Savings Bank FSB 673,398 71.78 43.14 60.10 31.92
MWBI Midwest Bancshares Inc. 146,542 82.34 60 72.87 19.45
MWBX MetroWest Bank 566,517 93.51 77.48 82.86 8.79
MWFD Midwest Federal Financial 207,050 96.58 74.49 77.13 12.99
NASB North American Savings Bank 736,585 125.19 86.56 69.14 22.12
NBN Northeast Bancorp 247,525 128.03 80.00 62.49 29.03
NBSI North Bancshares Inc. 119,586 108.41 64.94 59.90 23.25
NEIB Northeast Indiana Bancorp 176,309 178.79 88.96 49.76 34.60
NHTB New Hampshire Thrift Bncshrs 315,280 98.89 82.76 83.69 7.93
NASB NewMil Bancorp Inc. 323,061 62.31 53.11 85.24 4.02
NSLB NS&L Bancorp Inc. 59,711 75.61 55.74 73.72 5.02
NSSB Norwich Financial Corp. 712,699 80.92 68.81 85.04 2.51
NSSY Norwalk Savings Society 663,668 104.64 67.81 64.81 26.37
NTMG Nutmeg Federal S&LA 102,438 106.37 88.13 82.85 5.24
NWEQ Northwest Equity Corp. 96,891 124.23 81.05 65.24 22.59
NWSB Northwest Savings Bank (MHC) 2,091,363 94.47 74.12 78.46 10.68
NYB New York Bancorp Inc. 3,283,653 119.70 61.64 51.50 41.03
OCFC Ocean Financial Corp. 1,448,122 76.21 50.56 66.35 16.76
OCN Ocwen Financial Corp. 2,786,879 84.47 66.64 78.89 10.30
OFCP Ottawa Financial Corp. 861,334 115.53 85.33 73.86 16.13
OHSL OHSL Financial Corp. 230,035 95.77 72.64 75.85 12.52
PALM Palfed Inc. 664,863 97.56 82.50 84.56 6.41
PAMM PacificAmerica Money Center 136,110 97.01 62.09 64.01 2.41
PBCI Pamrapo Bancorp Inc. 370,987 68.48 55.81 81.50 3.94
PBCT People's Bank (MHC) 7,870,000 95.87 68.11 71.05 19.07
PBHC Oswego City Savings Bk (MHC) 190,899 70.88 58.89 83.09 4.46
PBKB People's Bancshares Inc. 585,678 82.58 47.31 57.30 33.62
PCBC Perry County Financial Corp. 81,105 21.97 16.44 74.83 5.55
PCCI Pacific Crest Capital 371,126 74.46 61.18 82.17 9.94
PDB Piedmont Bancorp Inc. 122,761 118.98 82.25 69.13 13.44
PEEK Peekskill Financial Corp. 182,560 34.84 25.27 72.53 0.00
PERM Permanent Bancorp Inc. 433,239 76.32 49.98 65.49 24.40
PERT Perpetual Bank (MHC) 256,211 90.61 68.28 75.36 10.93
PETE Primary Bank 431,683 79.63 57.47 72.18 20.35
PFDC Peoples Bancorp 287,564 95.85 79.92 83.38 0.99
PFED Park Bancorp Inc. 175,569 53.49 39.00 72.92 3.42
PFFB PFF Bancorp Inc. 2,631,413 109.87 71.97 65.51 22.99
PFFC Peoples Financial Corp. 86,486 84.64 60.45 71.43 0.00
PFNC Progress Financial Corp. 418,658 97.20 70.10 72.11 19.00
PFSB PennFed Financial Services Inc 1,321,751 101.73 70.67 69.47 21.81
PFSL Pocahontas FS&LA (MHC) 378,700 109.61 40.83 37.25 55.33
PHBK Peoples Heritage Finl Group 5,591,180 92.37 69.61 75.37 14.10
PHFC Pittsburgh Home Financial Corp 256,265 124.69 67.52 54.15 32.86
PHSB Peoples Home Savings Bk (MHC) 214,759 55.61 46.83 84.21 0.98
PKPS Poughkeepsie Financial Corp. 880,196 109.12 74.37 68.15 22.03
PLSK Pulaski Savings Bank (MHC) 177,348 67.66 57.02 84.27 3.23
PMFI Perpetual Midwest Financial 397,229 103.02 79.14 76.82 13.14
PRBC Prestige Bancorp Inc. 135,721 102.58 67.19 65.50 22.31
PROV Provident Financial Holdings 615,500 106.98 88.43 82.66 1.11
PSBK Progressive Bank Inc. 878,823 74.79 67.90 90.79 0.00
13
Key Financial Data as of The Most Recent Quarter
-----------------------------------------------------
Total Loans/ Loans/ Deposits/ Borrowings/
Assets Deposits Assets Assets Assets
Ticker Short Name ($000) (%) (%) (%) (%)
- -------------------------------------- -----------------------------------------------------
PSFC Peoples-Sidney Financial Corp. 93,734 106.43 92.40 86.82 2.67
PSFI PS Financial Inc. 82,662 87.09 44.28 50.84 5.44
PTRS Potters Financial Corp. 121,189 76.51 62.76 82.03 8.11
PULB Pulaski Bank, Svgs Bank (MHC) 180,232 95.56 79.58 83.28 1.22
PULS Pulse Bancorp 520,203 29.55 23.46 79.39 11.71
PVFC PVF Capital Corp. 356,251 121.66 93.42 76.79 14.41
PVSA Parkvale Financial Corporation 991,239 82.29 73.15 88.90 2.04
PWBC PennFirst Bancorp Inc. 816,954 84.41 40.41 47.87 42.90
PWBK Pennwood Bancorp Inc. 49,981 76.11 54.54 71.67 8.93
QCBC Quaker City Bancorp Inc. 801,402 118.11 81.53 69.03 19.68
QCFB QCF Bancorp Inc. 149,637 56.99 39.97 70.13 10.59
QCSB Queens County Bancorp Inc. 1,466,906 124.22 87.32 70.29 14.79
RARB Raritan Bancorp Inc. 379,428 76.04 66.90 87.98 2.68
RCSB RCSB Financial Inc. 4,104,367 94.89 54.16 57.08 29.87
REDF RedFed Bancorp Inc. 912,237 98.43 86.80 88.19 1.58
RELI Reliance Bancshares Inc. 47,009 158.84 59.45 37.43 12.76
RELY Reliance Bancorp Inc. 1,976,764 63.68 46.26 72.65 17.80
RIVR River Valley Bancorp 140,442 98.29 81.20 82.61 3.56
ROSE TR Financial Corp. 3,551,783 78.18 52.76 67.49 24.21
RSLN Roslyn Bancorp Inc. 3,159,301 38.81 21.76 56.06 21.91
RVSB Riverview Savings Bank (MHC) 229,652 92.04 67.58 73.43 14.28
SBFL SB of the Finger Lakes (MHC) 216,700 57.15 46 80.49 8.82
SBOS Boston Bancorp (The) 1,715,070 24.42 19.25 78.85 7.61
SCBS Southern Community Bancshares 70,370 75.43 58.98 78.19 0.00
SCCB S. Carolina Community Bancshrs 46,412 105.88 77.65 73.34 0.00
SECP Security Capital Corp. 3,673,401 119.86 76.78 64.06 16.89
SFED SFS Bancorp Inc. 172,849 84.38 72.25 85.62 0.00
SFFC StateFed Financial Corporation 85,679 NA NA 58.76 22.18
SFIN Statewide Financial Corp. 673,214 73.72 49.11 66.62 22.86
SFNB Security First Network Bank 78,653 18.26 10.24 56.08 1.38
SFSB SuburbFed Financial Corp. 426,705 85.29 63.56 74.51 17.49
SFSL Security First Corp. 653,226 126.63 90.14 71.18 18.39
SGVB SGV Bancorp Inc. 409,340 99.22 69.89 70.44 21.34
SHEN First Shenango Bancorp Inc. 411,417 97.46 63.55 65.20 22.62
SISB SIS Bancorp Inc. 1,434,545 65.22 46.17 70.78 19.54
SKAN Skaneateles Bancorp Inc. 247,697 101.38 85.28 84.12 7.37
SKBO First Carnegie Deposit (MHC) 147,122 80.07 42.40 52.96 28.84
SMBC Southern Missouri Bancorp Inc. 165,688 85.32 64.02 75.03 8.17
SMFC Sho-Me Financial Corp. 328,803 144.87 88.02 60.76 29.30
SOBI Sobieski Bancorp Inc. 81,754 103.28 75.02 72.64 11.62
SOPN First Savings Bancorp Inc. 294,217 94.38 65.54 69.44 6.80
SOSA Somerset Savings Bank 514,502 87.17 76.58 87.85 4.95
SPBC St. Paul Bancorp Inc 4,611,394 95.74 68.41 71.46 18.41
SRN Southern Banc Company Inc. 104,978 NA NA 82.46 0.00
SSB Scotland Bancorp Inc 69,479 113.46 69.32 61.10 0.00
SSFC South Street Financial Corp. 241,744 77.97 45.88 58.84 14.48
SSM Stone Street Bancorp Inc. 106,115 129.54 81.51 62.93 0.00
STFR St. Francis Capital Corp. 1,645,539 68.28 43.76 64.09 26.85
STND Standard Financial Inc. 2,574,675 86.04 61.32 71.27 16.86
STSA Sterling Financial Corp. 1,686,395 103.44 59.12 57.16 35.72
SVRN Sovereign Bancorp Inc. 10,898,572 116.84 62.79 53.74 39.87
SWBI Southwest Bancshares 378,325 98.35 72.36 73.57 13.44
SWCB Sandwich Co-operative Bank 501,894 87.47 70.02 80.05 11.07
SZB SouthFirst Bancshares Inc. 97,283 114.80 73.80 64.29 19.01
TBK Tolland Bank 238,227 68.88 61.76 89.66 3.11
THR Three Rivers Financial Corp. 91,165 101.03 66.49 65.81 19.02
THRD TF Financial Corporation 640,746 68.97 49.61 71.92 15.35
TPNZ Tappan Zee Financial Inc. 124,150 56.31 45.75 81.25 0.00
TRIC Tri-County Bancorp Inc. 89,457 79.63 41.70 52.36 31.40
TSBS Peoples Bancorp Inc. (MHC) 631,000 79.26 61.28 77.31 4.75
TSH Teche Holding Co. 406,253 123.89 84.95 68.56 17.35
TWIN Twin City Bancorp 107,345 85.05 71.61 84.20 0.93
UBMT United Financial Corp. 105,600 46.46 32.59 70.13 5.63
UFRM United Federal Savings Bank 275,530 90.13 80.07 88.84 0.00
14
Key Financial Data as of The Most Recent Quarter
-----------------------------------------------------
Total Loans/ Loans/ Deposits/ Borrowings/
Assets Deposits Assets Assets Assets
Ticker Short Name ($000) (%) (%) (%) (%)
- -------------------------------------- -----------------------------------------------------
USAB USABancshares, Inc. 48,303 54.38 43.42 79.84 8.71
VABF Virginia Beach Fed. Financial 617,818 123.17 77.10 62.60 30.03
VFFC Virginia First Financial Corp. 817,313 124.32 90.53 72.81 18.01
WAMU Washington Mutual Inc. 48,763,153 136.35 67.06 49.18 44.51
WAYN Wayne Savings & Loan Co. (MHC) 254,230 98.46 82.42 83.71 6.30
WBST Webster Financial Corp. 5,943,766 89.74 60.49 67.41 26.02
WCBI Westco Bancorp 311,613 91.35 75.08 82.19 0.00
WCFB Webster City Federal SB (MHC) 94,699 76.73 57.85 75.40 0.29
WEFC Wells Financial Corp. 202,035 128.62 91.48 71.13 13.86
WEHO Westwood Homestead Fin. Corp. 134,655 124.70 76.43 61.29 9.10
WES Westcorp 3,678,193 93.99 51.03 54.29 21.81
WFI Winton Financial Corp. 317,392 117.25 86.50 73.77 18.24
WFSG Wilshire Financial Services 1,196,092 192.59 71.71 37.23 55.82
WFSL Washington Federal Inc. 5,760,385 146.15 72.81 49.82 36.31
WHGB WHG Bancshares Corp. 100,235 108.52 79.50 73.26 3.99
WOFC Western Ohio Financial Corp. 396,492 127.93 77.47 60.55 25.32
WRNB Warren Bancorp Inc. 358,021 72.30 63.47 87.79 0.93
WSB Washington Savings Bank, FSB 258,330 58.07 50.63 87.18 3.87
WSFS WSFS Financial Corporation 1,508,540 123.84 62.02 50.08 43.15
WSTR WesterFed Financial Corp. 955,639 100.64 66.44 66.02 20.85
WVFC WVS Financial Corp. 294,693 93.72 54.34 57.99 28.72
WWFC Westwood Financial Corporation 111,394 45.55 37.15 81.56 8.98
WYNE Wayne Bancorp Inc. 261,027 93.13 65.99 70.86 15.25
YFCB Yonkers Financial Corporation 288,089 51.38 36.41 70.87 13.84
YFED York Financial Corp. 1,162,393 101.61 86.82 85.44 3.98
-----------------------------------------------------
Average 1,392,682 95.58 66.95 71.35 14.70
15
Key Financial Data as of The Most Recent Quarter
-----------------------------------------------------
Total Loans/ Loans/ Deposits/ Borrowings/
Assets Deposits Assets Assets Assets
Ticker Short Name ($000) (%) (%) (%) (%)
- -------------------------------------- -----------------------------------------------------
Comparable Thrift Data
ALBC Albion Banc Corp. 68,628 93.78 71.50 76.24 13.50
ATSB AmTrust Capital Corp. 71,031 99.62 71.64 71.92 17.12
CLAS Classic Bancshares Inc. 130,525 87.73 66.61 75.93 8.41
FFDF FFD Financial Corp. 85,286 97.24 62.33 64.10 10.06
HFFB Harrodsburg First Fin Bancorp 108,950 102.71 73.91 71.96 0.00
HZFS Horizon Financial Svcs Corp. 85,969 91.02 61.03 67.05 22.22
LXMO Lexington B&L Financial Corp. 59,236 107.94 76.69 71.05 0.00
NBSI North Bancshares Inc. 119,586 108.41 64.94 59.90 23.25
PRBC Prestige Bancorp Inc. 135,721 102.58 67.19 65.50 22.31
SOBI Sobieski Bancorp Inc. 81,754 103.28 75.02 72.64 11.62
SZB SouthFirst Bancshares Inc. 97,283 114.80 73.80 64.29 19.01
-----------------------------------------------------
Average 94,906 100.83 69.51 69.14 13.41
Maximum 135,721 114.80 76.69 76.24 23.25
Minimum 59,236 87.73 61.03 59.90 0.00
16
Capital as of The Most Recent Quarter
-----------------------------------------------------------------------
Tangible Intangible Regulatory Equity + Total Capital/
Equity/ Equity/ Assets/ Core Cap/ Reserves/ Risk Adjusted
Assets Tang Assets Equity Assets Assets Assets
Ticker Short Name (%) (%) (%) (%) (%)
- -------------------------------------- -----------------------------------------------------------------------
CAL California Federal Bank, a FSB 7.38 5.23 30.65 5.63 8.67 11.72
CCMD Chevy Chase Bank, FSB 5.60 5.02 10.86 6.48 7.19 13.21
AABC Access Anytime Bancorp, Inc. 7.45 7.45 0.00 7.16 7.92 17.13
AADV Advantage Bancorp Inc. 9.21 8.67 6.51 6.41 9.78 14.90
ABBK Abington Bancorp Inc. 6.92 6.27 9.93 6.18 7.34 13.48
ABCL Alliance Bancorp Inc. 8.91 8.81 1.26 7.77 9.30 15.15
ABCW Anchor BanCorp Wisconsin 6.22 6.11 1.88 5.63 7.39 10.53
AFBC Advance Financial Bancorp 15.45 15.45 0.00 15.44 15.78 26.03
AFCB Affiliated Community Bancorp 9.78 9.73 0.58 9.98 10.53 19.18
AFED AFSALA Bancorp Inc. 13.47 13.47 0.00 13.48 14.15 32.75
AFFFZ America First Financial Fund 8.44 8.35 1.23 7.32 8.77 16.66
AHCI Ambanc Holding Co. 12.94 12.94 0.00 10.00 13.72 23.85
AHM Ahmanson & Company (H.F.) 5.18 4.60 11.88 5.78 6.00 11.1
ALBC Albion Banc Corp. 8.73 8.73 0.00 NA 9.12 NA
ALBK ALBANK Financial Corp. 9.20 8.14 12.60 7.23 9.92 12.80
AMFC AMB Financial Corp. 14.96 14.96 0.00 12.50 15.36 24.40
ANA Acadiana Bancshares Inc. 17.37 17.37 0.00 13.78 18.37 27.19
ANBK American National Bancorp 8.97 8.97 0.00 8.26 9.72 17.37
ANDB Andover Bancorp Inc. 8.06 8.06 0.00 8.2 9.06 15.01
ASBI Ameriana Bancorp 10.96 10.95 0.08 10.07 11.24 19.04
ASBP ASB Financial Corp. 15.56 15.56 0.00 11.86 16.29 27.32
ASFC Astoria Financial Corp. 7.83 6.66 16.01 5.69 8.02 15.98
ATSB AmTrust Capital Corp. 10.17 10.07 1.07 10.20 10.83 16.58
AVND Avondale Financial Corp. 9.12 9.12 0.00 8.90 12.18 16.27
BANC BankAtlantic Bancorp Inc. 5.62 4.67 17.85 6.79 6.62 11.28
BDJI First Federal Bancorporation 10.87 10.87 0.00 9.64 11.24 19.07
BFD BostonFed Bancorp Inc. 8.79 8.52 3.31 NA 9.38 NA
BFFC Big Foot Financial Corp. 16.98 16.98 0.00 12.27 17.13 35.4
BFSB Bedford Bancshares Inc. 14.16 14.16 0.00 12.45 14.64 22.92
BKC American Bank of Connecticut 8.29 7.98 4.01 NA 9.16 NA
BKCT Bancorp Connecticut Inc. 10.25 10.25 0.00 10.19 11.45 16.29
BKUNA BankUnited Financial Corp. 5.61 4.94 12.63 8.08 5.78 14.04
BNKU Bank United Corp. 5.09 4.97 2.46 7.65 5.43 14.07
BPLS Bank Plus Corp. 5.07 5.06 0.18 6.15 6.76 11.75
BSBC Branford Savings Bank 9.28 9.28 0.00 9.29 11.29 17.56
BTHL Bethel Bancorp 8.48 7.36 14.28 7.38 9.63 13.39
BVCC Bay View Capital Corp. 6.34 5.37 16.08 5.54 7.47 10.26
BWFC Bank West Financial Corp. 14.51 14.51 0.00 12.20 14.66 23.37
BYFC Broadway Financial Corp. 10.75 10.75 0.00 8.69 11.57 15.22
CAFI Camco Financial Corp. 9.57 8.89 7.74 9.21 9.83 16.91
CAPS Capital Savings Bancorp Inc. 8.80 8.80 0.00 7.89 9.10 16.60
CASB Cascade Financial Corp. 6.13 6.13 0.00 6.19 6.92 10.79
CASH First Midwest Financial Inc. 11.40 10.23 11.42 9.20 12.04 14.90
CATB Catskill Financial Corp. 25.04 25.04 0.00 20.72 25.69 61.36
CBCI Calumet Bancorp Inc. 15.50 15.50 0.00 9.24 16.69 15.52
CBES CBES Bancorp Inc. 18.39 18.39 0.00 13.54 18.80 17.70
CBK Citizens First Financial Corp. 14.08 14.08 0.00 10.57 14.30 18.44
CBSA Coastal Bancorp Inc. 3.33 2.78 16.87 5.49 3.56 11.74
CBSB Charter Financial Inc. 14.47 13.02 11.52 11.65 15.06 21.47
CCFH CCF Holding Company 11.69 11.69 0.00 10.22 12.28 NA
CEBK Central Co-operative Bank 9.93 8.98 10.53 NA 10.75 NA
CENB Century Bancorp Inc. 29.94 29.94 0.00 19.10 30.48 43.47
CENF CENFED Financial Corp. 5.20 5.19 0.17 5.49 5.96 11.08
CFB Commercial Federal Corp. 6.00 5.36 11.31 6.47 6.69 13.81
CFBC Community First Banking Co. 15.40 15.22 1.37 10.30 15.92 17.00
CFCP Coastal Financial Corp. 6.17 6.17 0.00 6.08 7.09 10.94
CFFC Community Financial Corp. 13.71 13.71 0.00 11.61 14.29 17.48
CFNC Carolina Fincorp Inc. 22.82 22.82 0.00 NA 23.18 NA
CFSB CFSB Bancorp Inc. 7.62 7.62 0.00 7.33 8.16 13.14
CFTP Community Federal Bancorp 27.45 27.45 0.00 24.82 27.73 58.37
CFX CFX Corp. 7.44 6.99 6.45 7.49 8.30 13.29
CIBI Community Investors Bancorp 12.04 12.04 0.00 11.29 12.56 22.07
CKFB CKF Bancorp Inc. 23.96 23.96 0.00 20.96 24.15 36.66
CLAS Classic Bancshares Inc. 14.87 12.87 15.44 11.70 15.49 24.00
17
Capital as of The Most Recent Quarter
-----------------------------------------------------------------------
Tangible Intangible Regulatory Equity + Total Capital/
Equity/ Equity/ Assets/ Core Cap/ Reserves/ Risk Adjusted
Assets Tang Assets Equity Assets Assets Assets
Ticker Short Name (%) (%) (%) (%) (%)
- -------------------------------------- -----------------------------------------------------------------------
CMRN Cameron Financial Corp 21.69 21.69 0.00 17.11 22.51 25.59
CMSB Commonwealth Bancorp Inc. 9.63 7.69 21.81 6.70 10.06 14.10
CMSV Community Savings FA (MHC) 11.24 11.24 0.00 11.30 11.61 23.49
CNIT CENIT Bancorp Inc. 7.24 6.69 8.17 NA 7.76 NA
CNSB CNS Bancorp Inc. 24.94 24.94 0.00 19.70 25.33 41.27
CNY Carver Bancorp Inc. 8.35 8.04 4.06 7.10 8.93 16.18
COFI Charter One Financial 6.71 6.31 6.37 5.36 7.16 10.59
CONE Conestoga Bancorp, Inc. 16.18 16.18 0.00 12.17 16.22 27.71
COOP Cooperative Bankshares Inc. 7.63 7.63 0.00 7.70 7.86 14.54
CRZY Crazy Woman Creek Bancorp 25.82 25.82 0.00 19.64 26.35 48.12
CSA Coast Savings Financial 4.92 4.86 1.27 5.33 5.84 11.07
CSBF CSB Financial Group Inc. 25.04 23.99 5.53 25.34 25.36 54.92
CTZN CitFed Bancorp Inc. 6.37 5.77 9.93 5.88 6.95 13.22
CVAL Chester Valley Bancorp Inc. 8.36 8.36 0.00 8.26 9.24 14.82
DCBI Delphos Citizens Bancorp Inc. 28.40 28.40 0.00 20.40 28.50 42.40
DIBK Dime Financial Corp. 7.96 7.72 3.22 8.13 9.37 20.58
DIME Dime Community Bancorp Inc. 14.52 12.76 13.85 9.87 15.33 19.99
DME Dime Bancorp Inc. 5.27 5.04 4.64 5.66 5.78 12.03
DNFC D & N Financial Corp. 5.58 5.52 1.06 5.12 6.26 9.45
DSL Downey Financial Corp. 6.93 6.84 1.39 6.24 7.46 12.05
EBSI Eagle Bancshares 8.30 8.30 0.00 6.41 8.98 10.30
EFBC Empire Federal Bancorp Inc. 37.36 37.36 0.00 23.94 37.55 66.91
EFBI Enterprise Federal Bancorp 11.96 11.95 0.09 11.30 12.16 20.30
EGFC Eagle Financial Corp. 6.87 5.44 21.92 7.69 7.36 17.83
EGLB Eagle BancGroup Inc. 11.85 11.85 0.00 9.69 12.38 17.59
EIRE Emerald Isle Bancorp Inc. 7.07 7.07 0.00 7.07 7.68 12.01
EMLD Emerald Financial Corp. 7.58 7.47 1.58 7.25 7.84 12.29
EQSB Equitable Federal Savings Bank 5.04 5.04 0.00 5.04 5.22 11.24
ESBK Elmira Savings Bank (The) 6.30 6.05 4.10 6.04 6.94 10.12
ESX Essex Bancorp Inc. 8.16 8.07 1.23 8.13 9.28 14.48
ETFS East Texas Financial Services 18.16 18.16 0.00 16.30 18.41 41.10
FAB FirstFed America Bancorp Inc. 12.16 12.16 0.00 10.23 13.12 19.72
FBBC First Bell Bancorp Inc. 9.82 9.82 0.00 9.49 9.92 21.86
FBCI Fidelity Bancorp Inc. 10.39 10.37 0.23 8.60 10.56 18.30
FBCV 1ST Bancorp 8.26 8.10 2.04 8.29 8.68 15.98
FBER 1st Bergen Bancorp 14.19 14.19 0.00 10.30 15.27 29.40
FBHC Fort Bend Holding Corp. 6.03 5.64 6.85 6.59 6.56 13.88
FBNW FirstBank Corp. 7.32 7.32 0.00 7.31 7.96 13.39
FBSI First Bancshares Inc. 13.54 13.53 0.14 NA 13.84 NA
FCB Falmouth Co-Operative Bank 23.88 23.88 0.00 24.16 24.41 44.13
FCBF FCB Financial Corp. 14.55 14.55 0.00 12.31 15.18 19.80
FCME First Coastal Corp. 9.23 9.23 0.00 9.16 10.95 16.33
FDEF First Defiance Financial 21.32 21.32 0.00 14.2 21.76 23.00
FED FirstFed Financial Corp. 4.83 4.78 1.12 5.93 6.70 11.68
FESX First Essex Bancorp Inc. 6.97 6.11 13.13 6.11 7.80 11.70
FFBA First Colorado Bancorp Inc. 12.92 12.77 1.35 11.59 13.20 22.14
FFBH First Federal Bancshares of AR 14.97 14.97 0.00 11.99 15.20 23.10
FFBI First Financial Bancorp Inc. 8.65 8.65 0.00 8.16 9.24 15.52
FFBS FFBS BanCorp Inc. 19.23 19.23 0.00 16.20 19.67 29.90
FFBZ First Federal Bancorp Inc. 7.55 7.54 0.11 6.74 8.41 11.44
FFCH First Financial Holdings Inc. 6.11 6.11 0.00 6.54 6.81 10.89
FFDB FirstFed Bancorp Inc. 9.42 8.65 8.84 8.67 9.83 15.60
FFDF FFD Financial Corp. 24.74 24.74 0.00 15.80 24.91 34.10
FFED Fidelity Federal Bancorp 5.14 5.14 0.00 6.63 5.85 10.89
FFES First Federal of East Hartford 6.43 6.43 0.00 6.66 6.69 22.00
FFFC FFVA Financial Corp. 13.18 12.94 2.10 10.16 13.76 20.69
FFFD North Central Bancshares Inc. 22.67 22.67 0.00 17.15 23.65 32.31
FFFG F.F.O. Financial Group Inc. 6.73 6.73 0.00 6.20 8.45 12.60
FFFL Fidelity Bankshares Inc. (MHC) 8.37 8.32 0.72 8.10 8.58 16.30
FFHC First Financial Corp. 7.13 6.95 2.60 6.58 7.51 14.19
FFHH FSF Financial Corp. 11.35 11.35 0.00 10.30 11.57 20.10
FFHS First Franklin Corporation 9.02 8.97 0.63 6.58 9.44 14.37
FFIC Flushing Financial Corp. 15.47 15.47 0.00 11.74 16.11 26.57
FFKY First Federal Financial Corp. 13.70 13.01 5.85 12.14 14.16 19.87
18
Capital as of The Most Recent Quarter
-----------------------------------------------------------------------
Tangible Intangible Regulatory Equity + Total Capital/
Equity/ Equity/ Assets/ Core Cap/ Reserves/ Risk Adjusted
Assets Tang Assets Equity Assets Assets Assets
Ticker Short Name (%) (%) (%) (%) (%)
- -------------------------------------- -----------------------------------------------------------------------
FFLC FFLC Bancorp Inc. 13.48 13.48 0.00 10.90 13.79 23.10
FFOH Fidelity Financial of Ohio 12.94 11.60 11.74 9.90 13.25 19.30
FFPB First Palm Beach Bancorp Inc. 6.57 6.42 2.45 7.47 6.98 14.77
FFSL First Independence Corp. 10.43 10.43 0.00 8.33 11.03 19.44
FFSX First Fed SB of Siouxland(MHC) 8.29 8.23 0.84 8.25 8.68 17.00
FFWC FFW Corp. 9.52 8.66 9.89 6.62 9.84 12.71
FFWD Wood Bancorp Inc. 12.30 12.30 0.00 8.71 12.65 15.20
FFYF FFY Financial Corp. 13.71 13.71 0.00 9.56 14.21 17.04
FGHC First Georgia Holding Inc. 8.22 7.59 8.23 8.21 8.85 10.29
FIBC Financial Bancorp Inc. 9.36 9.32 0.50 7.32 9.85 18.86
FISB First Indiana Corporation 9.56 9.46 1.23 8.73 10.93 12.48
FKFS First Keystone Financial 7.31 7.31 0.00 7.33 7.80 16.92
FKKY Frankfort First Bancorp Inc. 17.18 17.18 0.00 25.88 17.26 50.81
FLAG FLAG Financial Corp. 9.58 9.58 0.00 9.07 11.62 14.30
FLFC First Liberty Financial Corp. 7.37 6.69 9.87 6.50 8.26 11.48
FLGS Flagstar Bancorp Inc. 7.23 NA NA 7.19 7.51 13.35
FLKY First Lancaster Bancshares 34.24 34.24 0.00 31.06 34.49 58.13
FMBD First Mutual Bancorp Inc. 12.84 10.04 24.24 18.95 13.18 19.61
FMCO FMS Financial Corporation 6.56 6.45 1.75 7.51 7.07 16.23
FMSB First Mutual Savings Bank 6.83 6.83 0.00 6.90 7.85 11.94
FNGB First Northern Capital Corp. 11.27 11.27 0.00 10.37 11.75 17.14
FOBC Fed One Bancorp 11.07 10.61 4.64 9.87 11.47 24.43
FPRY First Financial Bancorp 6.35 6.35 0 6.20 7.00 10.80
FRC First Republic Bancorp 7.17 7.17 0.07 7.16 8.00 14.12
FSBI Fidelity Bancorp Inc. 6.75 6.75 0.00 9.17 7.25 18.91
FSFC First Southeast Financial Corp 10.23 10.23 0.00 9.87 10.62 20.76
FSLA First Savings Bank (MHC) 9.42 8.49 10.82 8.46 9.98 21.7
FSNJ Bayonne Bancshares Inc. 8.42 8.42 0.00 8.85 8.95 26.48
FSPG First Home Bancorp Inc. 6.66 6.56 1.65 6.46 7.39 17.00
FSPT FirstSpartan Financial Corp. 11.81 11.81 0.00 11.80 12.24 20.30
FSSB First FS&LA of San Bernardino 4.33 4.18 3.63 4.29 5.38 8.52
FSTC First Citizens Corp. 9.73 7.73 22.25 7.98 10.86 11.82
FTF Texarkana First Financial Corp 15.70 15.70 0.00 15.69 16.37 26.24
FTFC First Federal Capital Corp. 6.44 6.08 5.91 NA 6.94 NA
FTNB Fulton Bancorp Inc. 25.01 25.01 0.00 16.40 25.87 29.40
FTSB Fort Thomas Financial Corp. 16.04 16.04 0.00 14.90 16.53 23.90
FWWB First SB of Washington Bancorp 14.23 13.29 7.64 13.65 14.88 24.77
GAF GA Financial Inc. 15.18 15.04 1.04 13.10 15.34 37.00
GBCI Glacier Bancorp Inc. 9.74 9.51 2.61 9.78 10.35 16.85
GDVS Greater Delaware Valley (MHC) 11.57 11.57 0.00 11.83 12.77 26.80
GDW Golden West Financial 6.37 6.37 0.00 6.13 6.93 13.30
GFCO Glenway Financial Corp. 9.49 9.37 1.35 8.50 9.77 13.40
GFED Guaranty Federal SB (MHC) 13.78 13.78 0.00 13.00 14.87 23.32
GFSB GFS Bancorp Inc. 11.45 11.45 0.00 NA 12.15 NA
GOSB GSB Financial Corp. 8.11 8.11 0.00 NA NA NA
GPT GreenPoint Financial Corp. 10.31 6.07 43.78 6.66 11.11 15.17
GRTR Greater New York Savings Bank 8.40 8.40 0.00 NA 9.05 NA
GSB Golden State Bancorp Inc. 6.24 5.66 9.83 5.67 7.25 11.17
GSBC Great Southern Bancorp Inc. 8.53 8.53 0.00 7.70 10.72 11.60
GSFC Green Street Financial Corp. 36.25 36.25 0.00 36.25 36.39 85.91
GSLA GS Financial Corp. 45.64 45.64 0.00 34.82 45.95 108.27
GTFN Great Financial Corporation 9.23 8.88 4.24 7.82 9.71 17.75
GTPS Great American Bancorp 21.44 21.44 0.00 16.78 21.76 29.53
GUPB GFSB Bancorp Inc. 16.30 16.30 0.00 NA 16.66 NA
GWBC Gateway Bancorp Inc. 27.04 27.04 0.00 24.70 27.17 80.20
HALL Hallmark Capital Corp. 7.24 7.24 0.00 6.47 7.67 11.98
HARB Harbor Florida Bancorp (MHC) 8.39 8.14 3.31 7.04 9.41 14.77
HARL Harleysville Savings Bank 6.53 6.53 0.00 6.56 7.09 13.73
HARS Harris Savings Bank (MHC) 8.01 7.08 12.52 6.80 8.43 13.73
HAVN Haven Bancorp Inc. 5.95 5.93 0.36 6.71 6.58 14.69
HBBI Home Building Bancorp 12.81 12.81 0.00 9.97 13.00 20.97
HBEI Home Bancorp of Elgin Inc. 26.70 26.70 0.00 20.27 26.98 39.45
HBFW Home Bancorp 13.29 13.29 0.00 10.18 13.70 22.3
HBNK Highland Federal Bank FSB 7.47 7.47 0.00 7.52 9.17 11.53
19
Capital as of The Most Recent Quarter
-----------------------------------------------------------------------
Tangible Intangible Regulatory Equity + Total Capital/
Equity/ Equity/ Assets/ Core Cap/ Reserves/ Risk Adjusted
Assets Tang Assets Equity Assets Assets Assets
Ticker Short Name (%) (%) (%) (%) (%)
- -------------------------------------- -----------------------------------------------------------------------
HBS Haywood Bancshares Inc. 13.93 13.50 3.60 13.55 14.42 27.27
HCBB HCB Bancshares Inc. 7.76 7.01 10.40 NA 8.55 NA
HCFC Home City Financial Corp. 20.61 20.61 0.00 15.59 21.29 29.31
HEMT HF Bancorp Inc. 8.23 NA NA 6.36 NA 16.55
HFFB Harrodsburg First Fin Bancorp 26.92 26.92 0.00 21.10 27.21 43.05
HFFC HF Financial Corp. 9.43 9.43 0.01 7.57 10.24 12.87
HFGI Harrington Financial Group 5.59 5.59 0.00 6.96 5.64 31.14
HFNC HFNC Financial Corp. 17.99 17.99 0.00 18.85 18.84 36.68
HFSA Hardin Bancorp Inc. 12.48 12.48 0.00 10.73 12.64 27.53
HHFC Harvest Home Financial Corp. 11.81 11.81 0.00 NA 11.95 NA
HIFS Hingham Instit. for Savings 9.36 9.36 0.00 9.83 10.03 15.67
HMCI HomeCorp Inc. 6.54 6.54 0.00 4.99 7.02 8.28
HMLK Hemlock Federal Financial Corp 18.34 18.34 0.00 12.75 18.79 39.21
HMNF HMN Financial Inc. 14.43 14.43 0.00 10.95 14.87 25.46
HOMF Home Federal Bancorp 8.48 8.24 3.10 8.07 9.02 12.06
HPBC Home Port Bancorp Inc. 10.56 10.56 0.00 10.56 11.84 18.20
HRBF Harbor Federal Bancorp Inc. 12.89 12.89 0.00 11.61 13.08 25.51
HRZB Horizon Financial Corp. 15.60 15.60 0.00 15.38 16.26 30.39
HTHR Hawthorne Financial Corp. 5.94 5.94 0.00 7.21 7.37 11.67
HVFD Haverfield Corp. 8.54 8.54 0.00 7.31 9.40 11.27
HWEN Home Financial Bancorp 16.93 16.93 0.00 14.14 17.47 25.02
HZFS Horizon Financial Svcs Corp. 9.79 9.79 0.00 7.40 10.10 14.43
IBSF IBS Financial Corp. 17.40 17.40 0.00 17.00 17.55 62.94
IFSB Independence Federal Svgs Bank 6.88 6.14 11.58 6.11 7.08 14.94
INBI Industrial Bancorp 17.70 17.70 0.00 16.11 18.18 31.50
INCB Indiana Community Bank SB 12.39 12.39 0.00 12.38 12.95 19.00
IPSW Ipswich Savings Bank 5.71 5.71 0.00 5.66 6.58 12.57
ISBF ISB Financial Corporation 12.04 10.43 14.93 10.21 12.56 20.04
ITLA ITLA Capital Corp. 10.99 10.95 0.41 10.60 12.23 13.40
IWBK InterWest Bancorp Inc. 6.78 6.64 2.15 6.79 7.25 NA
JOAC Joachim Bancorp Inc. 28.16 28.16 0.00 23.10 28.38 46.20
JSB JSB Financial Inc. 22.85 22.85 0.00 NA 23.22 NA
JSBA Jefferson Savings Bancorp 8.54 6.75 22.42 7.03 9.18 13.20
JXSB Jacksonville Savings Bk (MHC) 10.49 10.49 0.00 10.22 10.98 15.17
JXVL Jacksonville Bancorp Inc. 14.92 14.92 0.00 13.77 NA 27.9
KFBI Klamath First Bancorp 19.55 19.55 0.00 16.77 19.72 35.32
KNK Kankakee Bancorp Inc. 11.09 10.49 6.01 8.83 11.72 16.32
KSAV KS Bancorp Inc. 13.52 13.52 0.05 NA 13.81 13.18
KSBK KSB Bancorp Inc. 7.18 6.81 5.43 6.87 7.95 11.15
KYF Kentucky First Bancorp Inc. 16.55 16.55 0.00 14.74 16.97 27.84
LARK Landmark Bancshares Inc. 13.79 13.79 0.00 12.15 14.18 26.59
LARL Laurel Capital Group Inc. 10.03 10.03 0.00 9.91 10.95 20.61
LFBI Little Falls Bancorp Inc. 13.27 12.39 7.63 9.00 13.63 27.17
LFCO Life Financial Corp. 21.38 21.38 0.00 7.47 22.20 18.61
LFED Leeds Federal Savings Bk (MHC) 16.18 16.18 0.00 15.91 16.37 35.48
LIFB Life Bancorp Inc. 10.55 10.28 2.86 8.70 11.20 21.38
LISB Long Island Bancorp Inc. 8.99 8.91 0.98 7.5 9.56 15.57
LOGN Logansport Financial Corp. 19.19 19.19 0.00 19.26 19.47 35.88
LONF London Financial Corporation 19.66 19.66 0.00 15.60 20.15 30.10
LSBI LSB Financial Corp. 8.85 8.85 0.00 8.15 9.60 11.12
LSBX Lawrence Savings Bank 8.69 8.69 0.00 9.07 9.68 17.71
LVSB Lakeview Financial 9.52 7.76 20.04 7.60 10.17 14.50
LXMO Lexington B&L Financial Corp. 28.32 28.32 0.00 23.30 28.69 44.10
MAFB MAF Bancorp Inc. 7.78 6.87 12.61 7.00 8.33 14.84
MARN Marion Capital Holdings 22.54 22.54 0.00 20.56 23.71 32.25
MASB MASSBANK Corp. 10.64 10.64 0.00 10.06 10.88 35.44
MBB MSB Bancorp Inc. 8.92 5.36 42.21 5.76 9.20 12.94
MBBC Monterey Bay Bancorp Inc. 11.33 10.54 7.81 8.88 11.70 18.89
MBLF MBLA Financial Corp. 12.15 12.15 0.00 11.19 12.42 31.65
MBSP Mitchell Bancorp Inc. 43.36 43.36 0.00 33.26 43.89 57.90
MCBN Mid-Coast Bancorp Inc. 8.60 8.60 0.00 8.34 9.12 14.69
MCBS Mid Continent Bancshares Inc. 9.39 9.39 0.00 8.52 9.49 22.60
MDBK Medford Savings Bank 8.99 8.43 6.82 8.54 9.64 16.03
MECH Mechanics Savings Bank 10.23 10.23 0.00 NA 11.95 18.71
20
Capital as of The Most Recent Quarter
-----------------------------------------------------------------------
Tangible Intangible Regulatory Equity + Total Capital/
Equity/ Equity/ Assets/ Core Cap/ Reserves/ Risk Adjusted
Assets Tang Assets Equity Assets Assets Assets
Ticker Short Name (%) (%) (%) (%) (%)
- -------------------------------------- -----------------------------------------------------------------------
MERI Meritrust Federal SB 8.20 8.20 0.00 8.20 8.51 18.44
METF Metropolitan Financial Corp. 3.96 3.59 9.60 5.56 4.58 8.36
MFBC MFB Corp. 13.65 13.65 0.00 13.00 13.80 27.78
MFCX Marshalltown Financial Corp. 15.74 15.74 0.00 12.12 15.83 33.14
MFFC Milton Federal Financial Corp. 13.14 13.14 0.00 11.08 13.42 24.87
MFLR Mayflower Co-operative Bank 9.68 9.54 1.68 9.68 10.57 16.70
MFSL Maryland Federal Bancorp 8.38 8.29 1.25 7.75 8.78 15.28
MGNL Magna Bancorp Inc. 10.23 9.98 2.68 8.48 11.00 16.90
MIFC Mid-Iowa Financial Corp. 9.35 9.34 0.12 7.57 9.59 19.10
MIVI Mississippi View Holding Co. 18.88 18.88 0.00 15.67 20.11 32.86
MLBC ML Bancorp Inc. 6.98 6.87 1.73 6.18 7.73 14.32
MONT Montgomery Financial Corp. 9.83 9.83 0.00 9.40 10.01 13.80
MRKF Market Financial Corp. 35.00 35.00 0.00 NA 35.09 NA
MSBF MSB Financial Inc. 16.99 16.99 0.00 12.78 17.39 20.88
MSBK Mutual Savings Bank FSB 6.07 6.07 0.00 6.25 6.36 16.23
MWBI Midwest Bancshares Inc. 6.91 6.91 0.00 6.02 7.39 14.46
MWBX MetroWest Bank 7.45 7.45 0.00 7.51 8.60 10.82
MWFD Midwest Federal Financial 8.81 8.52 3.58 7.09 9.60 10.32
NASB North American Savings Bank 7.68 7.44 3.36 7.70 8.52 13.00
NBN Northeast Bancorp 7.76 6.88 12.17 7 8.81 12.2
NBSI North Bancshares Inc. 14.14 14.14 0.00 12.15 14.31 32.31
NEIB Northeast Indiana Bancorp 15.19 15.19 0.00 12.68 15.82 21.49
NHTB New Hampshire Thrift Bncshrs 7.65 6.59 14.83 6.23 8.52 10.64
NASB NewMil Bancorp Inc. 9.82 9.82 0.00 10.25 11.51 19.85
NSLB NS&L Bancorp Inc. 19.56 19.56 0.00 15.00 19.63 35.10
NSSB Norwich Financial Corp. 11.17 10.19 9.72 10.15 13.11 14.35
NSSY Norwalk Savings Society 7.82 7.59 3.25 7.76 8.86 15.30
NTMG Nutmeg Federal S&LA 8.37 8.37 0.00 8.25 8.86 13.81
NWEQ Northwest Equity Corp. 11.45 11.45 0.00 8.37 11.93 13.68
NWSB Northwest Savings Bank (MHC) 9.49 8.99 5.84 9.17 10.14 18.54
NYB New York Bancorp Inc. 5.08 5.08 0.00 4.75 5.68 11.18
OCFC Ocean Financial Corp. 16.26 16.26 0.00 12.23 16.69 30.90
OCN Ocwen Financial Corp. 8.75 8.39 4.53 9.40 9.64 13.81
OFCP Ottawa Financial Corp. 8.73 7.13 19.76 6.73 9.09 11.10
OHSL OHSL Financial Corp. 11.03 11.03 0.00 9.13 11.25 19.24
PALM Palfed Inc. 8.24 8.24 0.00 7.10 9.32 11.10
PAMM PacificAmerica Money Center 21.57 21.57 0.00 NA 22.95 NA
PBCI Pamrapo Bancorp Inc. 12.74 12.65 0.77 12.49 13.46 27.04
PBCT People's Bank (MHC) 8.48 8.47 0.10 8.5 9.57 13.8
PBHC Oswego City Savings Bk (MHC) 11.73 9.95 16.81 9.70 12.26 17.02
PBKB People's Bancshares Inc. 5.71 5.51 3.79 7.79 6.46 16.62
PCBC Perry County Financial Corp. 19.20 19.20 0.00 16.20 19.23 72.60
PCCI Pacific Crest Capital 7.08 7.08 0.00 7.49 8.11 11.25
PDB Piedmont Bancorp Inc. 16.63 16.63 0.00 15.66 17.28 28.82
PEEK Peekskill Financial Corp. 25.73 25.73 0.00 24.87 26.07 96.81
PERM Permanent Bancorp Inc. 9.16 9.04 1.46 8.20 9.66 20.57
PERT Perpetual Bank (MHC) 11.83 11.83 0.00 10.90 12.42 19.00
PETE Primary Bank 6.93 6.93 0.15 6.82 7.56 13.17
PFDC Peoples Bancorp 15.20 15.20 0.00 12.85 15.51 26.83
PFED Park Bancorp Inc. 22.53 22.53 0.00 17.67 22.81 48.04
PFFB PFF Bancorp Inc. 10.32 10.22 1.06 8.29 11.37 16.26
PFFC Peoples Financial Corp. 27.21 27.21 0.00 20.00 27.44 45.30
PFNC Progress Financial Corp. 5.26 4.68 11.67 6.68 6.02 10.56
PFSB PennFed Financial Services Inc 7.36 6.23 16.36 5.64 7.56 12.22
PFSL Pocahontas FS&LA (MHC) 6.36 6.36 0.00 6.36 6.82 16.56
PHBK Peoples Heritage Finl Group 7.72 6.59 15.73 8.62 8.88 14.36
PHFC Pittsburgh Home Financial Corp 10.92 10.81 1.11 24.02 11.44 10.60
PHSB Peoples Home Savings Bk (MHC) 8.04 8.04 0.00 NA 8.70 NA
PKPS Poughkeepsie Financial Corp. 8.37 8.37 0.00 6.89 9.45 11.95
PLSK Pulaski Savings Bank (MHC) 11.91 11.91 0.00 11.91 12.37 29.15
PMFI Perpetual Midwest Financial 8.53 8.53 0.00 8.00 9.28 12.60
PRBC Prestige Bancorp Inc. 11.13 11.13 0.00 11.29 11.39 24.58
PROV Provident Financial Holdings 13.88 13.88 0.00 9.89 15.04 16.15
PSBK Progressive Bank Inc. 8.55 7.71 10.67 7.58 9.67 14.79
21
Capital as of The Most Recent Quarter
-----------------------------------------------------------------------
Tangible Intangible Regulatory Equity + Total Capital/
Equity/ Equity/ Assets/ Core Cap/ Reserves/ Risk Adjusted
Assets Tang Assets Equity Assets Assets Assets
Ticker Short Name (%) (%) (%) (%) (%)
- -------------------------------------- -----------------------------------------------------------------------
PSFC Peoples-Sidney Financial Corp. 10.15 10.15 0.00 10.20 10.57 16.10
PSFI PS Financial Inc. 38.69 38.69 0.00 38.67 38.91 107.93
PTRS Potters Financial Corp. 8.83 8.83 0.00 8.52 10.57 19.16
PULB Pulaski Bank, Svgs Bank (MHC) 13.04 13.04 0.00 13.00 13.31 30.20
PULS Pulse Bancorp 8.05 8.05 0.00 7.46 8.50 28.02
PVFC PVF Capital Corp. 7.02 7.02 0 7.34 7.76 10.42
PVSA Parkvale Financial Corporation 7.58 7.53 0.74 7.01 9.02 14.65
PWBC PennFirst Bancorp Inc. 8.08 7.59 6.50 7.01 8.68 20.82
PWBK Pennwood Bancorp Inc. 17.46 17.46 0.00 17.46 18.02 34.37
QCBC Quaker City Bancorp Inc. 8.77 8.76 0.05 7.34 9.73 12.64
QCFB QCF Bancorp Inc. 18.09 18.09 0.00 11.01 18.99 27.97
QCSB Queens County Bancorp Inc. 11.85 11.85 0.00 10.32 12.50 17.55
RARB Raritan Bancorp Inc. 7.93 7.81 1.62 7.64 8.79 14.05
RCSB RCSB Financial Inc. 7.62 7.45 2.41 7.25 8.26 11.49
REDF RedFed Bancorp Inc. 8.46 8.42 0.41 7.99 9.46 11.97
RELI Reliance Bancshares Inc. 48.85 48.85 0.00 NA 49.17 NA
RELY Reliance Bancorp Inc. 8.23 6.07 27.95 5.6 8.49 15.16
RIVR River Valley Bancorp 12.39 12.23 1.49 16.13 13.23 31.25
ROSE TR Financial Corp. 6.20 6.20 0.00 6.22 6.63 18.25
RSLN Roslyn Bancorp Inc. 20.14 20.06 0.49 13.75 20.90 34.55
RVSB Riverview Savings Bank (MHC) 11.24 10.36 8.71 10.62 11.62 21.30
SBFL SB of the Finger Lakes (MHC) 9.58 9.58 0.00 9.56 10.12 24.8
SBOS Boston Bancorp (The) 12.34 12.34 0.00 10.06 12.45 26.75
SCBS Southern Community Bancshares 21.32 21.32 0.00 NA 22.47 NA
SCCB S. Carolina Community Bancshrs 25.96 25.96 0.00 23.2 26.59 48.9
SECP Security Capital Corp. 16.20 16.20 0.00 12.87 17.30 19.21
SFED SFS Bancorp Inc. 12.47 12.47 0 12.45 12.89 24.21
SFFC StateFed Financial Corporation 17.78 17.78 0.00 NA NA NA
SFIN Statewide Financial Corp. 9.73 9.71 0.18 9.36 10.13 24.62
SFNB Security First Network Bank 35.16 34.83 1.44 40.30 35.29 NA
SFSB SuburbFed Financial Corp. 6.48 6.46 0.38 5.82 6.68 13.58
SFSL Security First Corp. 9.42 9.28 1.63 7.92 10.19 11.40
SGVB SGV Bancorp Inc. 7.31 7.19 1.65 6.34 7.61 14.43
SHEN First Shenango Bancorp Inc. 10.95 10.95 0.00 8.89 11.68 18.17
SISB SIS Bancorp Inc. 7.20 7.20 0.00 6.99 8.34 13.13
SKAN Skaneateles Bancorp Inc. 6.85 6.65 3.08 6.73 7.64 11.26
SKBO First Carnegie Deposit (MHC) 16.45 16.45 0.00 16.40 16.73 59.00
SMBC Southern Missouri Bancorp Inc. 15.67 15.67 0.00 12.61 16.08 25.01
SMFC Sho-Me Financial Corp. 9.03 9.03 0.00 7.92 9.61 14.80
SOBI Sobieski Bancorp Inc. 15.12 15.12 0.00 NA 15.36 NA
SOPN First Savings Bancorp Inc. 22.84 22.84 0.00 22.78 23.04 52.15
SOSA Somerset Savings Bank 6.33 6.33 0.00 6.29 7.71 10.22
SPBC St. Paul Bancorp Inc 8.60 8.58 0.30 8.49 9.35 16.99
SRN Southern Banc Company Inc. 16.89 16.75 1.04 NA NA NA
SSB Scotland Bancorp Inc 37.03 37.03 0.00 29.27 37.38 58.40
SSFC South Street Financial Corp. 25.25 25.25 0.00 24.98 25.42 73.53
SSM Stone Street Bancorp Inc. 28.85 28.85 0.00 25.34 29.36 46.98
STFR St. Francis Capital Corp. 7.88 7.03 11.64 6.53 8.23 11.61
STND Standard Financial Inc. 10.77 10.76 0.15 8.26 11.07 19.26
STSA Sterling Financial Corp. 5.54 5.04 9.48 7.78 6.03 13.83
SVRN Sovereign Bancorp Inc. 4.90 3.95 20.23 4.82 5.35 14.43
SWBI Southwest Bancshares 11.00 11.00 0.00 8.23 11.20 16.97
SWCB Sandwich Co-operative Bank 7.95 7.63 4.28 7.77 8.71 14.48
SZB SouthFirst Bancshares Inc. 14.00 14.00 0.00 13.05 14.29 21.47
TBK Tolland Bank 6.94 6.76 2.87 7.00 8.10 13.10
THR Three Rivers Financial Corp. 13.76 13.71 0.40 11.65 14.29 22.81
THRD TF Financial Corporation 11.12 9.89 12.27 9.00 11.43 20.80
TPNZ Tappan Zee Financial Inc. 17.02 17.02 0.00 13.50 17.56 37.70
TRIC Tri-County Bancorp Inc. 15.32 15.32 0.00 12.79 15.78 39.77
TSBS Peoples Bancorp Inc. (MHC) 16.88 15.71 8.25 15.55 17.29 27.49
TSH Teche Holding Co. 13.14 13.14 0.00 11.60 13.96 21.93
TWIN Twin City Bancorp 12.86 12.86 0.00 11.87 13.06 21.80
UBMT United Financial Corp. 23.29 23.29 0.00 NA 23.36 NA
UFRM United Federal Savings Bank 7.47 7.47 0.00 7.47 8.26 11.27
22
Capital as of The Most Recent Quarter
-----------------------------------------------------------------------
Tangible Intangible Regulatory Equity + Total Capital/
Equity/ Equity/ Assets/ Core Cap/ Reserves/ Risk Adjusted
Assets Tang Assets Equity Assets Assets Assets
Ticker Short Name (%) (%) (%) (%) (%)
- -------------------------------------- -----------------------------------------------------------------------
USAB USABancshares, Inc. 10.76 10.58 1.89 10.80 11.19 26.70
VABF Virginia Beach Fed. Financial 6.85 6.85 0.00 6.75 7.56 12.51
VFFC Virginia First Financial Corp. 8.06 7.80 3.47 7.66 9.14 11.77
WAMU Washington Mutual Inc. 5.24 5.00 4.84 NA 5.99 NA
WAYN Wayne Savings & Loan Co. (MHC) 9.25 9.25 0.00 9.23 9.62 17.80
WBST Webster Financial Corp. 5.02 4.32 14.57 5.98 5.90 13.71
WCBI Westco Bancorp 15.24 15.24 0.00 12.90 15.53 28.00
WCFB Webster City Federal SB (MHC) 23.35 23.35 0.00 23.35 23.75 53.43
WEFC Wells Financial Corp. 14.19 14.19 0.00 10.82 14.53 19.09
WEHO Westwood Homestead Fin. Corp. 29.41 29.41 0.00 24.49 29.57 40.57
WES Westcorp 9.05 9.03 0.27 10.43 10.05 10.65
WFI Winton Financial Corp. 7.11 6.97 2.12 6.80 7.38 11.00
WFSG Wilshire Financial Services 5.76 5.76 0.00 NA 11.59 NA
WFSL Washington Federal Inc. 12.08 11.15 8.66 10.34 12.52 18.88
WHGB WHG Bancshares Corp. 20.66 20.66 0.00 15.11 20.89 32.25
WOFC Western Ohio Financial Corp. 13.79 12.98 6.78 12.69 14.24 24.21
WRNB Warren Bancorp Inc. 10.37 10.37 0.00 9.73 11.50 14.61
WSB Washington Savings Bank, FSB 8.30 8.30 0.00 7.81 8.77 19.59
WSFS WSFS Financial Corporation 5.20 5.16 0.83 6.41 6.85 10.45
WSTR WesterFed Financial Corp. 10.91 8.92 19.99 8.54 11.40 14.54
WVFC WVS Financial Corp. 11.16 11.16 0.00 11.44 11.84 25.77
WWFC Westwood Financial Corporation 9.13 8.21 10.90 6.84 9.33 19.26
WYNE Wayne Bancorp Inc. 13.35 13.35 0.00 10.13 14.12 23.31
YFCB Yonkers Financial Corporation 14.90 14.90 0.00 12.60 15.27 35.18
YFED York Financial Corp. 8.61 8.61 0.00 7.48 9.16 11.95
-----------------------------------------------------------------------
Average 12.33 12.12 2.92 10.78 12.94 22.20
23
Capital as of The Most Recent Quarter
-----------------------------------------------------------------------
Tangible Intangible Regulatory Equity + Total Capital/
Equity/ Equity/ Assets/ Core Cap/ Reserves/ Risk Adjusted
Assets Tang Assets Equity Assets Assets Assets
Ticker Short Name (%) (%) (%) (%) (%)
- -------------------------------------- -----------------------------------------------------------------------
Comparable Thrift Data
ALBC Albion Banc Corp. 8.73 8.73 0.00 NA 9.12 NA
ATSB AmTrust Capital Corp. 10.17 10.07 1.07 10.20 10.83 16.58
CLAS Classic Bancshares Inc. 14.87 12.87 15.44 11.70 15.49 24.00
FFDF FFD Financial Corp. 24.74 24.74 0.00 15.80 24.91 34.10
HFFB Harrodsburg First Fin Bancorp 26.92 26.92 0.00 21.10 27.21 43.05
HZFS Horizon Financial Svcs Corp. 9.79 9.79 0.00 7.40 10.10 14.43
LXMO Lexington B&L Financial Corp. 28.32 28.32 0.00 23.30 28.69 44.10
NBSI North Bancshares Inc. 14.14 14.14 0.00 12.15 14.31 32.31
PRBC Prestige Bancorp Inc. 11.13 11.13 0.00 11.29 11.39 24.58
SOBI Sobieski Bancorp Inc. 15.12 15.12 0.00 NA 15.36 NA
SZB SouthFirst Bancshares Inc. 14.00 14.00 0.00 13.05 14.29 21.47
-----------------------------------------------------------------------
Average 16.18 15.98 1.50 14.00 16.52 28.29
Maximum 28.32 28.32 15.44 23.30 28.69 44.10
Minimum 8.73 8.73 0.00 0.00 9.12 0.00
24
Profitability as of
Asset Quality as of The Most Recent Quarter The Most Recent Quarter
------------------------------------------------------ -----------------------
NPLs/ Reserves/ NPAs/ NPAs/ Reserves/ Reserves/ Return on Return on
Loans NPLs Assets Equity Loans NPAs + 90 Avg Assets Avg Equity
Ticker Short Name (%) (%) (%) (%) (%) (%) (%) (%)
- -------------------------------------- ------------------------------------------------------ -----------------------
CAL California Federal Bank, a FSB 1.60 120.38 1.31 17.82 1.93 98.69 0.82 11.17
CCMD Chevy Chase Bank, FSB 0.73 378.42 2.11 37.76 2.78 74.92 0.18 3.30
AABC Access Anytime Bancorp, Inc. 3.04 30.20 1.60 21.49 0.92 29.31 0.52 7.23
AADV Advantage Bancorp Inc. 0.35 293.23 0.44 4.83 1.01 128.03 1.10 12.06
ABBK Abington Bancorp Inc. 0.29 241.34 0.17 2.50 0.69 211.97 0.89 12.80
ABCL Alliance Bancorp Inc. 0.16 335.46 0.15 1.70 0.53 257.09 0.78 8.52
ABCW Anchor BanCorp Wisconsin 0.67 219.76 0.92 14.85 1.48 126.05 0.97 14.91
AFBC Advance Financial Bancorp 0.45 89.84 0.37 2.40 0.40 89.84 0.90 5.77
AFCB Affiliated Community Bancorp 0.63 191.79 0.39 4.02 1.20 191.75 1.10 11.26
AFED AFSALA Bancorp Inc. 0.95 150.77 0.45 3.32 1.43 150.77 0.79 5.83
AFFFZ America First Financial Fund 0.51 94.78 0.40 4.79 0.49 81.55 1.18 14.17
AHCI Ambanc Holding Co. 0.93 151.19 0.58 4.47 1.40 124.04 0.47 3.71
AHM Ahmanson & Company (H.F.) 2.28 54.74 1.90 36.74 1.25 42.9 0.96 19.32
ALBC Albion Banc Corp. 1.01 53.94 0.72 8.26 0.54 53.94 0.30 3.36
ALBK ALBANK Financial Corp. 0.85 116.56 0.71 7.71 0.99 78.77 1.07 11.59
AMFC AMB Financial Corp. 0.94 56.74 0.81 5.44 0.53 49.41 1.04 6.68
ANA Acadiana Bancshares Inc. 0.69 194.73 0.52 3.01 1.35 190.96 0.94 5.43
ANBK American National Bancorp 1.06 110.45 0.71 7.96 1.17 102.82 0.79 8.75
ANDB Andover Bancorp Inc. 1.26 111.66 1.01 12.54 1.41 99.08 1.03 12.91
ASBI Ameriana Bancorp 0.48 80.09 0.40 3.61 0.38 71.19 0.89 8.16
ASBP ASB Financial Corp. 1.32 82.74 0.88 5.67 1.09 71.62 1.06 6.80
ASFC Astoria Financial Corp. 0.77 62.53 0.45 5.73 0.48 37.96 0.79 10.30
ATSB AmTrust Capital Corp. 3.66 25.47 2.84 27.96 0.93 23.48 0.42 4.16
AVND Avondale Financial Corp. 5.11 104.39 3.18 34.82 5.33 96.19 1.44 16.65
BANC BankAtlantic Bancorp Inc. 0.97 142.52 0.87 15.43 1.39 102.98 1.00 17.51
BDJI First Federal Bancorporation 0.02 NA 0.23 2.13 0.76 137.04 0.69 6.40
BFD BostonFed Bancorp Inc. 0.53 139.5 0.52 5.87 0.74 114.29 0.72 7.90
BFFC Big Foot Financial Corp. 0.00 NA 0.00 0.00 0.34 151.52 0.70 4.13
BFSB Bedford Bancshares Inc. 0.00 NA 0.00 0.00 0.56 79.85 1.22 8.52
BKC American Bank of Connecticut 2.56 56.83 1.81 21.83 1.45 48.13 1.28 15.60
BKCT Bancorp Connecticut Inc. 1.60 124.01 1.19 11.63 1.98 100.82 1.42 13.99
BKUNA BankUnited Financial Corp. 0.65 32.20 0.60 10.71 0.21 28.73 0.48 8.02
BNKU Bank United Corp. 0.65 71.59 0.66 12.91 0.46 51.25 0.62 11.98
BPLS Bank Plus Corp. 2.74 76.87 2.88 56.76 2.11 58.99 0.39 7.91
BSBC Branford Savings Bank 2.11 144.53 1.42 15.30 3.06 141.26 1.18 12.54
BTHL Bethel Bancorp NA NA NA NA 1.48 NA 0.56 6.48
BVCC Bay View Capital Corp. 0.66 227.01 0.79 12.46 1.51 137.32 0.58 9.27
BWFC Bank West Financial Corp. 0.37 54.2 0.28 1.93 0.20 51.72 0.88 5.99
BYFC Broadway Financial Corp. 1.05 96.54 2.06 19.20 1.01 39.74 0.48 4.33
CAFI Camco Financial Corp. 0.38 83.57 0.34 3.56 0.32 54.74 1.21 12.55
CAPS Capital Savings Bancorp Inc. 0.18 216.08 0.17 1.94 0.39 97.24 0.97 11.16
CASB Cascade Financial Corp. 0.22 426.09 0.39 6.36 0.95 203.69 0.65 10.48
CASH First Midwest Financial Inc. 1.19 78.15 0.85 7.46 0.93 75.48 0.98 8.53
CATB Catskill Financial Corp. 0.76 195.59 0.47 1.86 1.48 140.85 1.36 5.28
CBCI Calumet Bancorp Inc. 0.96 163.97 1.16 7.51 1.57 102.51 1.67 10.81
CBES CBES Bancorp Inc. 0.83 55.57 0.77 4.16 0.46 54.05 1.10 5.90
CBK Citizens First Financial Corp. 0.24 108.66 0.39 2.79 0.26 37.65 0.65 4.55
CBSA Coastal Bancorp Inc. 0.92 55.35 0.54 16.13 0.51 39.81 0.39 11.51
CBSB Charter Financial Inc. 0.58 135.95 0.56 3.89 0.79 104.84 1.93 13.68
CCFH CCF Holding Company 0.22 325.68 0.18 1.55 0.72 325.68 0.07 0.63
CEBK Central Co-operative Bank 1.24 97.49 0.85 8.52 1.21 97.49 0.73 7.16
CENB Century Bancorp Inc. 0.44 207.22 0.39 1.31 0.91 139.39 1.80 9.12
CENF CENFED Financial Corp. 1.26 87.02 1.28 24.60 1.10 58.93 0.67 13.05
CFB Commercial Federal Corp. 0.88 104.32 0.89 14.90 0.91 76.36 0.98 16.45
CFBC Community First Banking Co. 1.42 58.68 2.02 13.12 0.83 26.1 0.62 5.37
CFCP Coastal Financial Corp. 0.13 905.51 0.21 3.39 1.15 436.85 1.23 20.03
CFFC Community Financial Corp. 0.41 157.01 0.39 2.82 0.65 148.67 1.15 8.36
CFNC Carolina Fincorp Inc. 0.20 254.78 0.14 0.62 0.51 254.78 1.24 5.33
CFSB CFSB Bancorp Inc. 0.14 431.15 0.17 2.26 0.61 308.01 1.33 17.42
CFTP Community Federal Bancorp 0.50 91.63 0.30 1.10 0.46 91.63 1.25 4.26
CFX CFX Corp. 0.59 207.53 0.72 9.66 1.23 120.07 1.10 13.96
CIBI Community Investors Bancorp 0.66 95.08 0.63 5.21 0.63 83.42 0.96 8.28
CKFB CKF Bancorp Inc. 0.69 29.35 0.63 2.64 0.20 14.79 3.28 13.77
CLAS Classic Bancshares Inc. 0.56 165.98 0.66 4.41 0.93 65.45 0.72 4.89
25
Profitability as of
Asset Quality as of The Most Recent Quarter The Most Recent Quarter
------------------------------------------------------ -----------------------
NPLs/ Reserves/ NPAs/ NPAs/ Reserves/ Reserves/ Return on Return on
Loans NPLs Assets Equity Loans NPAs + 90 Avg Assets Avg Equity
Ticker Short Name (%) (%) (%) (%) (%) (%) (%) (%)
- -------------------------------------- ------------------------------------------------------ -----------------------
CMRN Cameron Financial Corp 0.28 347.55 0.24 1.09 0.97 111.82 1.26 5.63
CMSB Commonwealth Bancorp Inc. 0.84 94.24 0.50 5.15 0.79 86.54 0.65 6.88
CMSV Community Savings FA (MHC) 0.61 103.17 0.55 4.93 0.63 67.15 0.80 7.12
CNIT CENIT Bancorp Inc. 0.25 310.20 0.42 5.83 0.76 103.23 0.88 12.22
CNSB CNS Bancorp Inc. 0.80 72.14 0.53 2.14 0.58 72.14 0.88 3.52
CNY Carver Bancorp Inc. 0.97 104.82 0.58 6.90 1.02 42.60 0.30 3.61
COFI Charter One Financial 0.29 246.91 0.22 3.23 0.73 164.80 1.28 18.85
CONE Conestoga Bancorp, Inc. 0.23 80.00 0.16 0.99 0.18 26.87 0.60 3.72
COOP Cooperative Bankshares Inc. 0.11 254.69 0.30 3.90 0.29 50.09 0.62 8.17
CRZY Crazy Woman Creek Bancorp 0.76 136.15 0.39 1.52 1.04 136.15 1.31 4.92
CSA Coast Savings Financial 1.28 106.68 1.4 28.54 1.37 65.7 0.56 11.46
CSBF CSB Financial Group Inc. NA NA NA NA 0.57 57.14 0.43 1.71
CTZN CitFed Bancorp Inc. 0.41 230.97 0.41 6.37 0.95 143.79 0.89 13.89
CVAL Chester Valley Bancorp Inc. 0.29 381.68 0.23 2.76 1.10 381.68 0.94 11.13
DCBI Delphos Citizens Bancorp Inc. 0.47 27.76 0.35 1.22 0.13 27.76 1.68 5.91
DIBK Dime Financial Corp. 0.72 437.39 0.38 4.75 3.17 355.33 1.97 25.26
DIME Dime Community Bancorp Inc. 1.05 136.45 0.73 5.01 1.43 112.22 0.84 57.03
DME Dime Bancorp Inc. 2.47 34.61 1.57 29.82 0.85 31.98 0.56 10.67
DNFC D & N Financial Corp. 0.34 274.04 0.34 6.18 0.93 198.09 0.91 16.08
DSL Downey Financial Corp. 0.76 75.59 0.95 13.71 0.58 55.76 0.59 8.24
EBSI Eagle Bancshares 1.12 84.96 1.07 12.84 0.95 63.66 0.77 8.97
EFBC Empire Federal Bancorp Inc. 0.00 NA 0.00 0.00 0.46 312.50 1.54 4.14
EFBI Enterprise Federal Bancorp 0.05 576.09 0.03 0.29 0.29 576.09 0.85 6.97
EGFC Eagle Financial Corp. 0.50 172.38 0.52 7.52 0.86 94.68 (0.88) (12.36)
EGLB Eagle BancGroup Inc. 1.59 47.98 1.48 12.48 0.76 35.83 0.39 3.30
EIRE Emerald Isle Bancorp Inc. 0.53 167.57 0.40 5.69 0.89 151.40 0.93 13.23
EMLD Emerald Financial Corp. 0.11 317.94 0.14 1.83 0.35 106.84 1.02 13.66
EQSB Equitable Federal Savings Bank 0.01 NA 0.15 2.99 0.26 36.72 0.70 13.94
ESBK Elmira Savings Bank (The) 0.49 172.63 0.65 10.39 0.85 97.39 0.44 6.99
ESX Essex Bancorp Inc. 1.61 83.19 2.42 29.70 1.34 42.63 0.84 10.18
ETFS East Texas Financial Services 0.30 169.14 0.17 0.94 0.50 141.97 0.68 3.66
FAB FirstFed America Bancorp Inc. 0.40 274.23 0.40 3.33 1.10 235.98 0.66 5.35
FBBC First Bell Bancorp Inc. 0.07 182.86 0.07 0.69 0.13 147.42 1.07 11.07
FBCI Fidelity Bancorp Inc. 1.00 22.38 0.80 7.74 0.22 21.76 0.84 8.12
FBCV 1ST Bancorp 1.21 54.29 0.94 11.33 0.66 45.77 0.79 9.73
FBER 1st Bergen Bancorp 1.76 141.84 0.83 5.87 2.50 129.82 0.85 5.57
FBHC Fort Bend Holding Corp. 0.70 147.02 0.37 6.18 1.03 141.08 0.68 11.04
FBNW FirstBank Corp. 2.22 35.35 2.07 28.23 0.78 31.12 0.62 8.08
FBSI First Bancshares Inc. 0.04 845.61 0.10 0.77 0.36 52.51 1.02 7.35
FCB Falmouth Co-Operative Bank 0.12 806.45 0.07 0.28 0.98 806.45 0.75 3.09
FCBF FCB Financial Corp. 0.17 479.37 0.15 1.05 0.82 412.16 0.69 4.45
FCME First Coastal Corp. 2.68 94.15 1.95 21.18 2.52 85.72 0.93 10.01
FDEF First Defiance Financial 0.52 108.45 0.45 2.12 0.57 96.96 1.10 5.15
FED FirstFed Financial Corp. 1.41 173.96 1.39 28.83 2.46 134.39 0.51 10.76
FESX First Essex Bancorp Inc. 0.77 186.66 0.56 8.08 1.43 146.94 0.84 11.88
FFBA First Colorado Bancorp Inc. 0.20 191.75 0.23 1.76 0.38 121.82 1.20 9.33
FFBH First Federal Bancshares of AR 0.20 147.56 0.19 1.29 0.30 119.50 1.00 6.50
FFBI First Financial Bancorp Inc. 0.61 149.25 0.39 4.55 0.91 147.92 (0.86) (10.59)
FFBS FFBS BanCorp Inc. 0.04 NA 0.03 0.16 0.62 118.76 1.17 6.06
FFBZ First Federal Bancorp Inc. 0.55 182.67 0.47 6.27 1.01 163.59 1.23 16.30
FFCH First Financial Holdings Inc. 1.02 82.01 1.61 26.42 0.84 41.99 0.88 14.38
FFDB FirstFed Bancorp Inc. 0.40 146.03 0.72 7.62 0.59 49.36 0.98 10.05
FFDF FFD Financial Corp. 0.01 NA 0.00 0.01 0.27 NA 0.90 3.61
FFED Fidelity Federal Bancorp 0.11 748.74 0.12 2.30 0.85 455.75 0.84 16.26
FFES First Federal of East Hartford 1.62 87.96 0.31 4.86 1.42 71.33 0.58 9.17
FFFC FFVA Financial Corp. 0.30 327.95 0.18 1.38 0.98 318.63 1.39 10.68
FFFD North Central Bancshares Inc. 0.08 NA 0.12 0.53 1.19 814.90 1.86 7.86
FFFG F.F.O. Financial Group Inc. 3.86 62.23 3.28 48.79 2.40 52.54 0.90 13.04
FFFL Fidelity Bankshares Inc. (MHC) 0.38 75.03 0.34 4.01 0.29 62.82 0.61 7.07
FFHC First Financial Corp. 0.32 201.44 0.26 3.65 0.64 148.86 1.37 19.44
FFHH FSF Financial Corp. 0.02 NA 0.03 0.31 0.34 636.64 0.88 7.64
FFHS First Franklin Corporation 0.60 104.00 0.41 4.52 0.62 82.31 0.78 8.74
FFIC Flushing Financial Corp. 0.46 252.00 0.29 1.85 1.15 223.21 1.01 6.49
FFKY First Federal Financial Corp. 0.00 NA 0.23 1.68 0.52 71.13 1.68 12.28
26
Profitability as of
Asset Quality as of The Most Recent Quarter The Most Recent Quarter
------------------------------------------------------ -----------------------
NPLs/ Reserves/ NPAs/ NPAs/ Reserves/ Reserves/ Return on Return on
Loans NPLs Assets Equity Loans NPAs + 90 Avg Assets Avg Equity
Ticker Short Name (%) (%) (%) (%) (%) (%) (%) (%)
- -------------------------------------- ------------------------------------------------------ -----------------------
FFLC FFLC Bancorp Inc. 0.18 241.01 0.19 1.40 0.44 163.65 0.96 6.91
FFOH Fidelity Financial of Ohio 0.10 381.04 0.08 0.62 0.37 381.04 0.94 7.20
FFPB First Palm Beach Bancorp Inc. 0.94 63.50 0.70 10.72 0.60 55.75 0.58 8.73
FFSL First Independence Corp. 0.49 187.11 0.37 3.59 0.91 69.37 0.64 6.17
FFSX First Fed SB of Siouxland(MHC) 0.07 742.15 0.05 0.62 0.52 342.10 0.73 8.88
FFWC FFW Corp. 0.22 230.65 0.16 1.64 0.50 203.56 0.94 9.50
FFWD Wood Bancorp Inc. 0.00 NA 0.02 0.15 0.44 143.64 1.44 11.53
FFYF FFY Financial Corp. 0.86 74.18 0.67 4.86 0.64 74.18 1.34 9.70
FGHC First Georgia Holding Inc. 1.48 50.53 1.41 17.21 0.75 20.52 1.00 11.97
FIBC Financial Bancorp Inc. 1.62 54.85 1.71 18.29 0.89 26.91 0.97 10.07
FISB First Indiana Corporation 1.48 109.61 1.50 15.64 1.62 91.12 1.07 11.04
FKFS First Keystone Financial 1.75 47.78 1.60 21.90 0.84 30.58 0.86 11.94
FKKY Frankfort First Bancorp Inc. 0.00 NA 0.00 0.00 0.08 86.21 (2.55) (10.73)
FLAG FLAG Financial Corp. 5.79 50.24 4.27 44.56 2.91 47.62 0.92 9.95
FLFC First Liberty Financial Corp. 0.75 172.78 0.81 10.97 1.29 110.00 1.11 14.89
FLGS Flagstar Bancorp Inc. 2.95 10.70 3.41 47.23 0.32 8.26 1.30 20.55
FLKY First Lancaster Bancshares 0.53 54.35 0.45 1.33 0.29 32.89 1.48 4.15
FMBD First Mutual Bancorp Inc. 0.09 512.64 0.10 0.78 0.46 187.34 0.42 3.25
FMCO FMS Financial Corporation 1.34 68.51 1.06 16.16 0.92 48.60 1.05 16.37
FMSB First Mutual Savings Bank 0.00 NA 0.00 0.00 1.27 NA 1.03 15.30
FNGB First Northern Capital Corp. 0.05 NA 0.06 0.53 0.53 798.69 0.93 8.16
FOBC Fed One Bancorp 0.29 316.70 0.15 1.37 0.93 101.18 0.93 8.36
FPRY First Financial Bancorp NA NA NA NA 0.84 NA 0.43 6.80
FRC First Republic Bancorp 1.00 93.61 1.01 14.08 0.94 69.68 0.79 10.65
FSBI Fidelity Bancorp Inc. 0.57 176.30 0.31 4.65 1.01 112.57 0.76 11.08
FSFC First Southeast Financial Corp 0.10 476.73 0.11 1.05 0.50 362.15 1.08 10.56
FSLA First Savings Bank (MHC) 0.93 113.54 0.65 6.87 1.06 83.02 0.95 10.25
FSNJ Bayonne Bancshares Inc. NA NA NA NA 1.36 43.59 0.57 6.79
FSPG First Home Bancorp Inc. 0.96 144.92 0.64 9.55 1.39 114.23 0.88 13.22
FSPT FirstSpartan Financial Corp. NA NA NA NA 0.49 NA 1.08 9.13
FSSB First FS&LA of San Bernardino 1.43 102.26 2.31 53.29 1.47 45.41 (0.12) (2.83)
FSTC First Citizens Corp. 1.30 112.66 NA NA 1.47 NA 3.88 41.13
FTF Texarkana First Financial Corp 0.00 NA 0.12 0.77 0.79 145.12 1.87 11.77
FTFC First Federal Capital Corp. 0.11 569.72 NA NA 0.65 NA 1.10 16.88
FTNB Fulton Bancorp Inc. 0.71 141.38 0.81 3.24 1.01 106.69 0.91 3.65
FTSB Fort Thomas Financial Corp. 1.54 34.90 1.42 8.85 0.54 32.73 1.38 8.60
FWWB First SB of Washington Bancorp 0.27 366.82 0.29 2.02 0.97 215.39 1.26 8.64
GAF GA Financial Inc. 0.32 132.49 0.12 0.80 0.43 132.49 1.11 7.03
GBCI Glacier Bancorp Inc. 0.14 623.92 0.12 1.26 0.85 229.89 1.64 17.10
GDVS Greater Delaware Valley (MHC) 1.63 118.86 2.51 21.73 1.93 43.15 0.88 7.66
GDW Golden West Financial 1.37 49.50 1.31 20.50 0.68 42.43 0.90 14.24
GFCO Glenway Financial Corp. 0.12 288.73 0.11 1.2 0.34 91.62 0.83 8.67
GFED Guaranty Federal SB (MHC) 0.50 273.84 0.50 3.66 1.36 216.62 1.02 7.41
GFSB GFS Bancorp Inc. NA NA NA NA 0.82 NA 1.37 11.88
GOSB GSB Financial Corp. NA NA NA NA NA NA 0.40 4.05
GPT GreenPoint Financial Corp. 4.37 29.69 2.89 28.03 1.30 27.84 1.07 10.04
GRTR Greater New York Savings Bank 18.46 9.25 7.52 89.53 1.71 NA 0.74 8.84
GSB Golden State Bancorp Inc. 1.42 95.56 1.46 23.32 1.36 69.38 0.62 9.64
GSBC Great Southern Bancorp Inc. 1.32 197.01 1.91 22.42 2.59 114.73 1.72 20.30
GSFC Green Street Financial Corp. 0.22 83.63 0.16 0.44 0.18 83.63 1.66 4.85
GSLA GS Financial Corp. 0.00 NA 0.01 0.02 0.84 293.18 1.78 3.75
GTFN Great Financial Corporation 0.45 161.27 0.36 3.87 0.72 15.68 1.05 11.40
GTPS Great American Bancorp 0.02 NA 0.01 0.07 0.44 140.69 0.56 2.64
GUPB GFSB Bancorp Inc. 0.34 199.36 0.18 1.1 0.69 199.36 0.81 4.76
GWBC Gateway Bancorp Inc. 2.09 18.37 0.76 2.81 0.38 14.14 0.96 3.60
HALL Hallmark Capital Corp. 0.22 296.63 0.15 2.07 0.64 273.18 0.72 10.13
HARB Harbor Florida Bancorp (MHC) 0.27 512.26 0.46 5.47 1.37 222.68 1.23 14.86
HARL Harleysville Savings Bank 0.00 NA 0.00 0.00 0.77 NA 1.09 16.89
HARS Harris Savings Bank (MHC) 0.61 158.94 0.62 7.73 0.97 64.15 1.04 12.80
HAVN Haven Bancorp Inc. 1.19 96.49 0.74 12.38 1.15 86.28 0.53 8.83
HBBI Home Building Bancorp 0.61 47.98 0.38 3.00 0.29 47.98 0.77 6.09
HBEI Home Bancorp of Elgin Inc. 0.43 82.78 0.41 1.53 0.36 69.84 0.81 2.92
HBFW Home Bancorp 0.00 NA 0.00 0.00 0.51 835.54 0.89 6.61
HBNK Highland Federal Bank FSB 3.38 63.08 3.09 41.33 2.13 55 1.10 14.97
27
Profitability as of
Asset Quality as of The Most Recent Quarter The Most Recent Quarter
------------------------------------------------------ -----------------------
NPLs/ Reserves/ NPAs/ NPAs/ Reserves/ Reserves/ Return on Return on
Loans NPLs Assets Equity Loans NPAs + 90 Avg Assets Avg Equity
Ticker Short Name (%) (%) (%) (%) (%) (%) (%) (%)
- -------------------------------------- ------------------------------------------------------ -----------------------
HBS Haywood Bancshares Inc. 1.04 62.25 1.97 14.13 0.65 24.62 1.12 7.99
HCBB HCB Bancshares Inc. NA NA NA NA 1.47 NA 0.27 3.46
HCFC Home City Financial Corp. 0.79 110.38 0.62 3.02 0.87 110.38 1.04 5.08
HEMT HF Bancorp Inc. NA NA NA NA NA NA (0.50) (6.11)
HFFB Harrodsburg First Fin Bancorp 0.00 NA 0.00 0.00 0.38 59.81 1.39 5.23
HFFC HF Financial Corp. 0.28 361.50 0.33 3.50 1.01 244.25 1.07 11.34
HFGI Harrington Financial Group 0.36 63.39 0.25 4.50 0.23 18.93 0.37 7.18
HFNC HFNC Financial Corp. 1.05 109.34 0.87 4.86 1.14 97.22 0.94 5.09
HFSA Hardin Bancorp Inc. 0.18 179.21 0.09 0.75 0.32 179.21 0.89 6.93
HHFC Harvest Home Financial Corp. 0.22 117 0.11 0.97 0.26 117 0.80 6.60
HIFS Hingham Instit. for Savings 0.54 165.13 0.41 4.38 0.89 165.13 1.27 13.18
HMCI HomeCorp Inc. 0.1 587.36 2.91 44.5 0.59 14.24 0.57 8.88
HMLK Hemlock Federal Financial Corp 0.00 NA 0.00 0.00 1.30 NA 1.13 6.19
HMNF HMN Financial Inc. 0.11 662.83 0.08 0.57 0.71 531.97 0.95 6.57
HOMF Home Federal Bancorp 0.50 124.50 0.45 5.30 0.62 117.33 1.24 14.60
HPBC Home Port Bancorp Inc. 0.00 NA 0.00 0.00 1.56 NA 1.70 15.91
HRBF Harbor Federal Bancorp Inc. 0.07 379.63 0.05 0.39 0.28 379.63 0.74 5.80
HRZB Horizon Financial Corp. 0.00 NA 0.00 0.00 0.84 NA 1.54 9.99
HTHR Hawthorne Financial Corp. 6.10 27.42 7.17 120.79 1.67 19.99 1.59 28.95
HVFD Haverfield Corp. 1.19 83.08 1.04 12.16 0.99 82.48 1.06 12.24
HWEN Home Financial Bancorp 1.63 41.18 1.74 10.25 0.67 31.3 0.95 5.34
HZFS Horizon Financial Svcs Corp. 0.89 57.78 0.96 9.81 0.52 25.93 0.48 4.71
IBSF IBS Financial Corp. 0.30 171.10 0.08 0.48 0.52 171.10 0.88 5.09
IFSB Independence Federal Svgs Bank 2.39 13.56 2.02 29.30 0.32 9.82 0.99 14.77
INBI Industrial Bancorp 0.25 217.50 0.22 1.26 0.55 156.98 1.51 8.43
INCB Indiana Community Bank SB NA NA NA NA 0.71 NA 0.60 4.77
IPSW Ipswich Savings Bank 1.04 113.11 1.52 26.64 1.18 56.87 1.23 20.98
ISBF ISB Financial Corporation NA NA NA NA 0.80 NA 0.74 6.16
ITLA ITLA Capital Corp. 1.09 136.80 1.47 13.4 1.50 84.2 1.52 13.13
IWBK InterWest Bancorp Inc. 0.43 179.94 0.64 9.40 0.78 73.79 1.13 16.81
JOAC Joachim Bancorp Inc. 0.25 130.00 0.17 0.61 0.32 109.86 0.93 3.25
JSB JSB Financial Inc. NA NA NA NA 0.62 NA 1.86 8.25
JSBA Jefferson Savings Bancorp 0.18 462.46 0.46 5.34 0.84 140.15 0.83 9.86
JXSB Jacksonville Savings Bk (MHC) 0.75 81.07 0.66 6.32 0.61 72.96 0.56 5.41
JXVL Jacksonville Bancorp Inc. NA NA 0.78 5.23 NA NA 1.75 11.48
KFBI Klamath First Bancorp 0.11 213.23 0.08 0.41 0.23 213.23 1.16 5.77
KNK Kankakee Bancorp Inc. 0.27 344.18 0.61 5.46 0.92 67.06 0.88 8.16
KSAV KS Bancorp Inc. 0.41 80.53 0.35 2.61 0.33 80.53 1.39 10.15
KSBK KSB Bancorp Inc. 2.29 44.86 1.75 24.36 1.03 43.20 0.98 13.70
KYF Kentucky First Bancorp Inc. 0.00 NA 0.00 0.00 0.75 630.51 1.17 7.19
LARK Landmark Bancshares Inc. 0.07 873.27 0.04 0.32 0.57 123.70 1.10 7.89
LARL Laurel Capital Group Inc. 0.62 212.35 0.43 4.30 1.31 212.35 1.42 14.00
LFBI Little Falls Bancorp Inc. 1.93 42.62 0.98 7.39 0.82 33.93 0.63 4.75
LFCO Life Financial Corp. 1.98 60.20 1.92 8.99 1.19 42.75 3.45 22.88
LFED Leeds Federal Savings Bk (MHC) 0.03 977.36 0.02 0.12 0.30 977.36 1.23 7.61
LIFB Life Bancorp Inc. 0.77 191.74 0.39 3.73 1.48 166.43 0.89 8.38
LISB Long Island Bancorp Inc. 1.46 63.10 1.03 11.50 0.92 55.02 0.86 9.42
LOGN Logansport Financial Corp. 0.84 45.60 0.61 3.18 0.38 44.88 1.49 7.68
LONF London Financial Corporation 1.03 61.11 0.80 4.07 0.63 61.11 0.85 4.30
LSBI LSB Financial Corp. 1.32 63.71 1.17 13.20 0.84 63.71 0.75 8.44
LSBX Lawrence Savings Bank 0.36 642.25 0.30 3.48 2.29 328.94 1.62 18.78
LVSB Lakeview Financial 1.44 104.43 0.98 10.34 1.50 66.74 1.12 11.44
LXMO Lexington B&L Financial Corp. 0.62 78.37 0.48 1.68 0.49 78.37 1.52 5.43
MAFB MAF Bancorp Inc. 0.53 134.75 0.43 5.50 0.71 120.51 1.25 15.83
MARN Marion Capital Holdings 0.94 144.01 0.81 3.61 1.35 144.01 1.72 7.53
MASB MASSBANK Corp. 0.46 191.35 0.16 1.55 0.87 149.80 1.09 10.54
MBB MSB Bancorp Inc. 1.14 54.87 0.71 7.97 0.63 38.66 0.54 6.07
MBBC Monterey Bay Bancorp Inc. 0.38 156.67 0.33 2.93 0.60 111.47 0.36 3.33
MBLF MBLA Financial Corp. 0.45 109.19 0.25 2.02 0.50 109.19 0.79 6.21
MBSP Mitchell Bancorp Inc. 2.05 30.29 2.03 4.69 0.62 26.19 1.60 3.73
MCBN Mid-Coast Bancorp Inc. 0.88 70.32 0.73 8.52 0.62 70.32 0.75 8.84
MCBS Mid Continent Bancshares Inc. 0.25 73.49 0.15 1.55 0.19 71.76 1.18 11.85
MDBK Medford Savings Bank 0.68 180.05 0.37 4.09 1.22 176.45 1.16 13.14
MECH Mechanics Savings Bank 1.42 181.81 1.13 11.05 2.58 152.02 3.57 36.54
28
Profitability as of
Asset Quality as of The Most Recent Quarter The Most Recent Quarter
------------------------------------------------------ -----------------------
NPLs/ Reserves/ NPAs/ NPAs/ Reserves/ Reserves/ Return on Return on
Loans NPLs Assets Equity Loans NPAs + 90 Avg Assets Avg Equity
Ticker Short Name (%) (%) (%) (%) (%) (%) (%) (%)
- -------------------------------------- ------------------------------------------------------ -----------------------
MERI Meritrust Federal SB 0.34 173.71 0.22 2.74 0.58 83.87 1.27 15.91
METF Metropolitan Financial Corp. 0.29 253.69 0.49 12.41 0.74 117.94 0.64 16.35
MFBC MFB Corp. 0.00 NA 0.00 0.00 0.19 177.07 0.84 6.05
MFCX Marshalltown Financial Corp. 0.00 NA 0.00 0.00 0.19 NA 0.64 4.08
MFFC Milton Federal Financial Corp. 0.25 183.01 0.15 1.17 0.46 86.42 0.74 5.44
MFLR Mayflower Co-operative Bank 1.19 127.05 0.81 8.36 1.52 92.14 1.05 11.03
MFSL Maryland Federal Bancorp 0.33 139.56 0.44 5.21 0.46 85.38 0.82 9.76
MGNL Magna Bancorp Inc. 2.00 55.54 2.08 20.31 1.11 26.42 1.68 16.90
MIFC Mid-Iowa Financial Corp. 0.03 NA 0.02 0.17 0.45 NA 1.62 17.62
MIVI Mississippi View Holding Co. 0.43 447.15 0.28 1.47 1.91 370.39 1.19 6.92
MLBC ML Bancorp Inc. 0.89 193.13 0.46 6.57 1.71 163.34 0.75 10.64
MONT Montgomery Financial Corp. 0.00 NA 0.12 1.18 0.20 20.00 0.62 6.43
MRKF Market Financial Corp. 0.00 NA 0.00 0.00 0.20 12.24 1.15 3.30
MSBF MSB Financial Inc. 0.02 NA 0.06 0.36 0.44 61.34 1.50 8.84
MSBK Mutual Savings Bank FSB 0.21 316.18 0.11 1.75 0.67 272.91 0.08 1.29
MWBI Midwest Bancshares Inc. 0.74 109.06 0.77 11.1 0.81 63.17 0.81 11.75
MWBX MetroWest Bank 0.62 239.76 0.70 9.39 1.48 126.64 1.39 18.74
MWFD Midwest Federal Financial 0.07 NA 0.12 1.35 1.05 658.13 1.48 16.98
NASB North American Savings Bank 2.97 32.94 3.11 40.56 0.98 27.16 1.57 20.06
NBN Northeast Bancorp 1.4 94.76 1.37 17.69 1.32 77.15 0.74 9.51
NBSI North Bancshares Inc. 0.00 NA 0.00 0.00 0.27 NA 0.58 4.07
NEIB Northeast Indiana Bancorp 0.42 170.55 0.40 2.60 0.71 159.54 1.20 7.88
NHTB New Hampshire Thrift Bncshrs 0.60 175.73 0.70 9.11 1.05 125.20 0.99 13.27
NASB NewMil Bancorp Inc. 1.36 234.19 0.87 8.83 3.18 152.08 0.85 8.50
NSLB NS&L Bancorp Inc. 0.03 466.67 0.02 0.08 0.13 210.00 0.94 4.78
NSSB Norwich Financial Corp. 1.49 189.44 1.29 11.52 2.83 151.12 1.12 10.07
NSSY Norwalk Savings Society 1.88 81.61 1.35 17.25 1.54 NA 0.72 9.02
NTMG Nutmeg Federal S&LA 0.54 101.63 0.77 9.23 0.55 40.69 0.63 8.64
NWEQ Northwest Equity Corp. 1.53 38.70 1.25 10.93 0.59 38.04 1.06 9.33
NWSB Northwest Savings Bank (MHC) 0.67 130.5 0.72 7.55 0.88 90.87 0.99 10.31
NYB New York Bancorp Inc. 1.67 58.08 1.09 21.47 0.97 48.76 1.64 32.37
OCFC Ocean Financial Corp. 0.91 94.78 0.55 3.38 0.87 79.68 1.03 6.10
OCN Ocwen Financial Corp. 1.33 100.26 5.11 58.42 1.34 17.43 2.75 32.29
OFCP Ottawa Financial Corp. 0.18 230.99 0.16 1.86 0.42 112.76 0.90 10.32
OHSL OHSL Financial Corp. 0.01 NA 0.01 0.06 0.31 161.25 0.90 8.25
PALM Palfed Inc. 1.45 90.96 2.12 25.72 1.32 51.22 0.88 10.80
PAMM PacificAmerica Money Center 2.33 95.13 3.47 16.11 2.22 27.75 13.21 58.78
PBCI Pamrapo Bancorp Inc. 3.12 41.42 2.14 16.82 1.29 26.1 1.37 10.69
PBCT People's Bank (MHC) 1.23 130.44 0.9 10.58 1.60 121.39 1.13 13.51
PBHC Oswego City Savings Bk (MHC) 1.52 60.13 1.17 10.01 0.91 45.83 1.35 11.70
PBKB People's Bancshares Inc. 1.51 103.99 0.82 14.27 1.57 91.19 0.91 16.19
PCBC Perry County Financial Corp. 0.00 NA 0.00 0.00 0.19 NA 1.14 6.10
PCCI Pacific Crest Capital 1.27 132.05 1.29 18.21 1.67 79.26 1.04 14.25
PDB Piedmont Bancorp Inc. 0.80 99.13 0.65 3.93 0.79 71.58 1.15 6.72
PEEK Peekskill Financial Corp. 2.33 57.97 0.71 2.75 1.35 27.98 1.13 4.38
PERM Permanent Bancorp Inc. 2.12 46.62 1.09 11.90 0.99 45.43 0.60 6.48
PERT Perpetual Bank (MHC) 0.15 570.30 0.12 1.00 0.87 502.32 1.06 8.77
PETE Primary Bank 0.84 129.30 0.82 11.88 1.08 75.47 (0.13) (1.91)
PFDC Peoples Bancorp 0.31 121.58 0.34 2.24 0.38 83.87 1.53 10.08
PFED Park Bancorp Inc. 0.46 160.26 0.21 0.94 0.73 134.41 1.04 4.71
PFFB PFF Bancorp Inc. 1.94 75.14 1.73 16.78 1.46 59.73 0.57 5.47
PFFC Peoples Financial Corp. 0.00 NA 0.00 0.00 0.39 NA 0.92 3.39
PFNC Progress Financial Corp. 0.75 143.11 1.46 27.66 1.08 51.92 0.86 16.19
PFSB PennFed Financial Services Inc 0.74 37.80 0.59 8.04 0.28 33.53 0.83 11.06
PFSL Pocahontas FS&LA (MHC) 0.23 481.94 0.10 1.52 1.12 308.72 0.66 10.39
PHBK Peoples Heritage Finl Group 0.98 170.32 0.83 10.71 1.66 126.66 1.30 16.19
PHFC Pittsburgh Home Financial Corp 2.07 36.82 1.6 14.64 0.76 32.18 0.89 7.93
PHSB Peoples Home Savings Bk (MHC) NA NA 0.56 7.02 1.40 NA 0.68 8.44
PKPS Poughkeepsie Financial Corp. 4.08 35.65 3.81 45.51 1.45 25.28 0.56 6.59
PLSK Pulaski Savings Bank (MHC) 1.14 71.47 0.65 5.46 0.81 71.47 0.70 7.67
PMFI Perpetual Midwest Financial 0.47 201.97 0.39 4.63 0.95 185.58 0.51 5.97
PRBC Prestige Bancorp Inc. 0.44 87.47 0.30 2.71 0.38 85.33 0.68 5.98
PROV Provident Financial Holdings NA NA NA NA 1.31 NA 0.74 5.27
PSBK Progressive Bank Inc. 1.01 163.37 0.84 9.86 1.65 131.46 1.00 11.92
29
Profitability as of
Asset Quality as of The Most Recent Quarter The Most Recent Quarter
------------------------------------------------------ -----------------------
NPLs/ Reserves/ NPAs/ NPAs/ Reserves/ Reserves/ Return on Return on
Loans NPLs Assets Equity Loans NPAs + 90 Avg Assets Avg Equity
Ticker Short Name (%) (%) (%) (%) (%) (%) (%) (%)
- -------------------------------------- ------------------------------------------------------ -----------------------
PSFC Peoples-Sidney Financial Corp. 0.76 60.06 0.70 6.89 0.45 42.00 0.90 8.70
PSFI PS Financial Inc. 1.77 28.66 0.79 2.03 0.51 28.66 2.09 5.20
PTRS Potters Financial Corp. 0.79 350.66 0.50 5.63 2.78 350.66 1.01 11.31
PULB Pulaski Bank, Svgs Bank (MHC) NA NA NA NA 0.33 NA 1.19 9.16
PULS Pulse Bancorp 2.32 83.23 0.57 7.03 1.93 65.20 1.15 14.43
PVFC PVF Capital Corp. 0.95 83.44 0.90 12.84 0.79 61.53 1.39 20.03
PVSA Parkvale Financial Corporation 0.34 573.16 0.27 3.53 1.97 537.53 1.07 14.75
PWBC PennFirst Bancorp Inc. 1.46 102.33 0.65 8.01 1.49 93.15 0.71 8.98
PWBK Pennwood Bancorp Inc. 1.00 103.30 0.62 3.55 1.03 57.43 0.80 4.34
QCBC Quaker City Bancorp Inc. 1.34 88.64 1.31 14.93 1.19 74.10 0.75 8.49
QCFB QCF Bancorp Inc. 0.55 411.04 0.27 1.51 2.24 221.49 1.55 8.53
QCSB Queens County Bancorp Inc. 0.55 134.79 0.57 4.84 0.74 95.23 1.54 12.67
RARB Raritan Bancorp Inc. 0.39 328.18 0.29 3.65 1.29 297.45 1.05 13.26
RCSB RCSB Financial Inc. 0.85 138.85 0.61 8.02 1.18 83.90 0.82 10.67
REDF RedFed Bancorp Inc. 1.7 67.61 2.19 25.85 1.15 45.7 1.07 12.70
RELI Reliance Bancshares Inc. NA NA NA NA 0.53 NA 0.24 0.49
RELY Reliance Bancorp Inc. 1.62 34.96 0.77 9.39 0.57 33.33 0.90 11.10
RIVR River Valley Bancorp 0.53 193.60 0.49 3.97 1.03 170.62 0.91 7.51
ROSE TR Financial Corp. 0.80 99.87 0.45 7.18 0.80 90.99 0.96 15.91
RSLN Roslyn Bancorp Inc. 1.12 308.55 0.27 1.34 3.46 278.21 1.42 6.74
RVSB Riverview Savings Bank (MHC) 0.20 278.46 0.14 1.20 0.56 278.46 1.31 11.72
SBFL SB of the Finger Lakes (MHC) 1.35 86.35 0.69 7.25 1.16 76.89 0.40 4.19
SBOS Boston Bancorp (The) 1.41 42.86 0.65 5.23 0.61 18.09 3.18 28.19
SCBS Southern Community Bancshares 3.67 52.99 2.16 10.15 1.94 46.17 1.20 5.55
SCCB S. Carolina Community Bancshrs 1.60 50.96 1.78 6.85 0.81 35.52 1.05 4.04
SECP Security Capital Corp. 0.15 939.03 0.12 0.74 1.44 918.65 1.60 10.04
SFED SFS Bancorp Inc. 0.87 66.24 0.68 5.44 0.57 57.17 0.63 5.07
SFFC StateFed Financial Corporation NA NA NA NA NA NA 1.55 8.78
SFIN Statewide Financial Corp. 0.69 120.69 0.38 3.89 0.83 95.58 0.82 8.78
SFNB Security First Network Bank NA NA NA NA 1.28 NA (33.43) (85.49)
SFSB SuburbFed Financial Corp. 0.76 41.27 0.48 7.44 0.31 41.27 0.67 10.28
SFSL Security First Corp. 0.31 274.51 0.28 2.98 0.85 273.91 1.35 14.52
SGVB SGV Bancorp Inc. NA NA NA NA 0.44 NA 0.49 6.70
SHEN First Shenango Bancorp Inc. 0.57 202.57 0.53 4.88 1.15 135.75 1.21 11.04
SISB SIS Bancorp Inc. 0.90 275.22 0.43 5.97 2.48 244.29 0.85 11.88
SKAN Skaneateles Bancorp Inc. 1.38 67.83 1.46 21.25 0.93 41.79 0.73 10.62
SKBO First Carnegie Deposit (MHC) NA NA NA NA 0.68 NA 0.62 4.88
SMBC Southern Missouri Bancorp Inc. 1.60 40.26 1.10 7.01 0.64 37.60 1.02 6.41
SMFC Sho-Me Financial Corp. 0.13 506.95 0.13 1.41 0.66 425.11 1.38 15.06
SOBI Sobieski Bancorp Inc. 0.21 158.73 0.15 1.02 0.33 158.73 0.57 3.72
SOPN First Savings Bancorp Inc. 0.13 241.60 0.08 0.37 0.31 241.60 1.80 7.60
SOSA Somerset Savings Bank 6.54 27.63 6.28 99.23 1.81 22.01 1.33 21.70
SPBC St. Paul Bancorp Inc 0.24 459.15 0.21 2.46 1.09 232.75 1.11 12.65
SRN Southern Banc Company Inc. NA NA 0.00 0.00 NA NA 0.49 2.93
SSB Scotland Bancorp Inc 0.00 NA 0.00 0.00 0.50 NA 1.50 4.08
SSFC South Street Financial Corp. 0.57 67.30 0.27 1.07 0.39 65.44 1.22 4.89
SSM Stone Street Bancorp Inc. 0.00 NA 0.00 0.00 0.62 187.50 0.98 2.77
STFR St. Francis Capital Corp. 0.34 236.32 0.16 2.03 0.80 181.58 0.95 11.55
STND Standard Financial Inc. 0.36 139.53 0.22 2.07 0.50 136.61 0.77 7.02
STSA Sterling Financial Corp. 0.60 136.19 0.61 10.96 0.82 79.43 0.57 10.41
SVRN Sovereign Bancorp Inc. 0.71 101.34 0.53 10.72 0.72 78.85 0.82 16.45
SWBI Southwest Bancshares 0.41 67.34 0.30 2.72 0.28 67.34 1.08 10.01
SWCB Sandwich Co-operative Bank 1.08 101.16 0.81 10.19 1.09 92.55 0.93 11.61
SZB SouthFirst Bancshares Inc. 0.50 78.95 0.53 3.81 0.40 39.15 0.52 3.73
TBK Tolland Bank 2.93 63.86 2.13 30.73 1.87 54.09 0.83 11.83
THR Three Rivers Financial Corp. 1.07 75 1.21 8.80 0.8 44.02 0.80 5.68
THRD TF Financial Corporation 0.61 102.59 0.33 3.00 0.62 92.84 0.79 7.17
TPNZ Tappan Zee Financial Inc. 2.59 45.58 1.28 7.55 1.18 31.27 0.86 4.98
TRIC Tri-County Bancorp Inc. 0.00 NA 0.00 0.00 1.11 NA 1.10 7.24
TSBS Peoples Bancorp Inc. (MHC) 0.81 83.09 0.52 3.08 0.67 55.92 1.46 8.62
TSH Teche Holding Co. 0.30 319.98 0.27 2.04 0.96 304.97 0.93 6.90
TWIN Twin City Bancorp 0.00 NA 0.08 0.60 0.29 130.95 0.98 7.64
UBMT United Financial Corp. NA NA NA NA 0.22 NA 1.41 6.14
UFRM United Federal Savings Bank 0.66 147.82 0.54 7.22 0.98 135.44 0.62 8.34
30
Profitability as of
Asset Quality as of The Most Recent Quarter The Most Recent Quarter
------------------------------------------------------ -----------------------
NPLs/ Reserves/ NPAs/ NPAs/ Reserves/ Reserves/ Return on Return on
Loans NPLs Assets Equity Loans NPAs + 90 Avg Assets Avg Equity
Ticker Short Name (%) (%) (%) (%) (%) (%) (%) (%)
- -------------------------------------- ------------------------------------------------------ -----------------------
USAB USABancshares, Inc. 1.55 63.50 0.67 6.27 0.99 63.50 0.98 8.43
VABF Virginia Beach Fed. Financial 0.14 658.51 0.68 9.97 0.93 56.59 0.65 9.65
VFFC Virginia First Financial Corp. 1.76 67.88 2.29 28.37 1.19 47.29 1.11 13.59
WAMU Washington Mutual Inc. 0.93 120.37 0.81 15.36 1.12 93.26 1.01 19.07
WAYN Wayne Savings & Loan Co. (MHC) 0.49 92.46 0.72 7.83 0.45 50.94 0.79 8.62
WBST Webster Financial Corp. 1.04 139.92 0.85 16.89 1.45 103.47 0.84 16.69
WCBI Westco Bancorp 0.54 69.42 0.60 3.95 0.38 47.07 1.49 9.78
WCFB Webster City Federal SB (MHC) 0.23 293.75 0.26 1.11 0.69 152.85 1.45 6.18
WEFC Wells Financial Corp. 0.21 176.10 0.21 1.49 0.37 121.72 1.07 7.51
WEHO Westwood Homestead Fin. Corp. 0.00 NA 0.00 0.00 0.21 255.81 0.99 3.23
WES Westcorp 1.04 186.87 0.74 8.19 1.95 134.25 1.12 12.12
WFI Winton Financial Corp. 0.14 220.20 0.29 4.05 0.32 78.21 1.02 14.30
WFSG Wilshire Financial Services NA NA NA NA 8.13 NA 1.78 30.72
WFSL Washington Federal Inc. 0.62 96.71 0.73 6.05 0.60 59.65 1.89 15.84
WHGB WHG Bancshares Corp. 0.18 160.96 0.15 0.71 0.29 160.96 0.93 4.37
WOFC Western Ohio Financial Corp. 0.43 135.80 0.34 2.50 0.58 NA 0.45 3.34
WRNB Warren Bancorp Inc. 1.00 178.96 1.08 10.44 1.79 98.45 1.83 17.88
WSB Washington Savings Bank, FSB NA NA NA NA 0.92 NA 0.73 8.78
WSFS WSFS Financial Corporation 2.41 109.64 1.66 31.85 2.65 96.79 1.12 21.27
WSTR WesterFed Financial Corp. 0.24 306.59 0.17 1.53 0.73 191.01 0.90 8.23
WVFC WVS Financial Corp. 0.55 230.13 0.30 2.65 1.25 230.13 1.21 10.92
WWFC Westwood Financial Corporation 0.00 NA 0.00 0.00 0.55 159.15 0.88 9.45
WYNE Wayne Bancorp Inc. 1.38 83.64 0.91 6.83 1.15 83.50 0.83 6.02
YFCB Yonkers Financial Corporation 1.17 87.61 0.57 3.85 1.02 65.11 1.11 7.37
YFED York Financial Corp. 0.09 675.05 1.24 14.38 0.64 23.05 0.95 11.27
------------------------------------------------------ -----------------------
Average 0.90 177.68 0.77 8.88 0.96 132.79 0.94 9.59
31
Profitability as of
Asset Quality as of The Most Recent Quarter The Most Recent Quarter
------------------------------------------------------ -----------------------
NPLs/ Reserves/ NPAs/ NPAs/ Reserves/ Reserves/ Return on Return on
Loans NPLs Assets Equity Loans NPAs + 90 Avg Assets Avg Equity
Ticker Short Name (%) (%) (%) (%) (%) (%) (%) (%)
- -------------------------------------- ------------------------------------------------------ -----------------------
Comparable Thrift Data
ALBC Albion Banc Corp. 1.01 53.94 0.72 8.26 0.54 53.94 0.30 3.36
ATSB AmTrust Capital Corp. 3.66 25.47 2.84 27.96 0.93 23.48 0.42 4.16
CLAS Classic Bancshares Inc. 0.56 165.98 0.66 4.41 0.93 65.45 0.72 4.89
FFDF FFD Financial Corp. 0.01 NA 0.00 0.01 0.27 NA 0.90 3.61
HFFB Harrodsburg First Fin Bancorp 0.00 NA 0.00 0.00 0.38 59.81 1.39 5.23
HZFS Horizon Financial Svcs Corp. 0.89 57.78 0.96 9.81 0.52 25.93 0.48 4.71
LXMO Lexington B&L Financial Corp. 0.62 78.37 0.48 1.68 0.49 78.37 1.52 5.43
NBSI North Bancshares Inc. 0.00 NA 0.00 0.00 0.27 NA 0.58 4.07
PRBC Prestige Bancorp Inc. 0.44 87.47 0.30 2.71 0.38 85.33 0.68 5.98
SOBI Sobieski Bancorp Inc. 0.21 158.73 0.15 1.02 0.33 158.73 0.57 3.72
SZB SouthFirst Bancshares Inc. 0.50 78.95 0.53 3.81 0.40 39.15 0.52 3.73
------------------------------------------------------ -----------------------
Average 0.72 88.34 0.60 5.42 0.49 65.58 0.73 4.44
Maximum 3.66 165.98 2.84 27.96 0.93 158.73 1.52 5.98
Minimum 0.00 0.00 0.00 0.00 0.27 0.00 0.30 3.36
32
Income Statement as of The Most Recent Quarter
--------------------------------------------------------------------------------------------
Net Interest Interest Net Interest Noninterest Noninterest
Interest Income/ Expense/ Income/ Income/ Expense/ Efficiency Overhead
Margin Avg Assets Avg Assets Avg Assets Avg Assets Avg Assets Ratio Ratio
Ticker Short Name (%) (%) (%) (%) (%) (%) (%) (%)
- -------------------------------------- --------------------------------------------------------------------------------------------
CAL California Federal Bank, a FSB 2.73 6.87 4.38 2.49 0.95 2.31 63.24 49.16
CCMD Chevy Chase Bank, FSB 4.55 7.73 3.92 3.81 4.65 7.16 80.49 56.67
AABC Access Anytime Bancorp, Inc. 3.05 6.90 3.94 2.96 0.67 3.05 83.94 80.31
AADV Advantage Bancorp Inc. 3.20 7.57 4.49 3.08 0.65 2.19 55.93 46.61
ABBK Abington Bancorp Inc. 3.40 7.30 4.05 3.25 0.79 2.59 62.37 53.25
ABCL Alliance Bancorp Inc. 2.73 6.93 4.29 2.64 1.23 2.61 67.38 52.24
ABCW Anchor BanCorp Wisconsin 3.02 7.59 4.69 2.90 0.70 2.12 58.61 48.62
AFBC Advance Financial Bancorp 3.82 7.55 3.83 3.73 0.27 2.53 63.36 60.70
AFCB Affiliated Community Bancorp 3.38 7.50 4.21 3.30 0.16 1.61 47.51 44.90
AFED AFSALA Bancorp Inc. 3.55 6.97 3.59 3.38 0.22 2.24 62.20 59.76
AFFFZ America First Financial Fund 2.92 7.14 4.34 2.81 0.35 1.79 64.04 59.59
AHCI Ambanc Holding Co. 3.42 7.22 3.92 3.30 0.24 2.73 73.97 72.08
AHM Ahmanson & Company (H.F.) 2.68 7.08 4.52 2.56 0.53 1.74 48.49 37.77
ALBC Albion Banc Corp. 3.53 7.53 4.14 3.39 0.46 3.20 83.05 80.77
ALBK ALBANK Financial Corp. 4.00 7.44 3.65 3.79 0.35 2.27 51.99 47.55
AMFC AMB Financial Corp. 3.65 7.48 3.90 3.58 0.59 2.92 70.14 65.24
ANA Acadiana Bancshares Inc. 3.68 7.61 4.01 3.60 0.37 2.47 62.54 58.67
ANBK American National Bancorp 3.30 7.64 4.45 3.19 0.16 2.13 57.64 55.47
ANDB Andover Bancorp Inc. 3.20 7.23 4.15 3.08 0.44 1.88 51.22 44.21
ASBI Ameriana Bancorp 3.16 7.41 4.38 3.03 0.55 2.22 62.00 55.17
ASBP ASB Financial Corp. 3.31 7.58 4.33 3.26 0.30 1.99 56.10 52.11
ASFC Astoria Financial Corp. 2.62 7.02 4.45 2.56 0.18 1.38 45.55 41.67
ATSB AmTrust Capital Corp. 2.85 7.03 4.30 2.73 0.47 2.74 85.66 83.20
AVND Avondale Financial Corp. 4.93 9.35 4.63 4.72 1.20 4.12 69.01 61.11
BANC BankAtlantic Bancorp Inc. 3.77 7.61 4.15 3.46 0.88 2.84 63.10 53.69
BDJI First Federal Bancorporation 3.25 7.23 4.14 3.09 0.48 2.42 68.40 63.49
BFD BostonFed Bancorp Inc. 3.47 7.19 3.87 3.32 0.39 2.32 64.26 60.05
BFFC Big Foot Financial Corp. 3.21 6.61 3.49 3.11 0.14 2.19 66.76 65.27
BFSB Bedford Bancshares Inc. 4.04 7.73 3.86 3.87 0.46 2.29 52.90 47.30
BKC American Bank of Connecticut 3.32 7.22 4.03 3.19 0.52 1.79 46.25 37.43
BKCT Bancorp Connecticut Inc. 3.83 7.60 3.85 3.75 0.32 2.01 49.49 45.13
BKUNA BankUnited Financial Corp. 2.23 7.32 5.18 2.14 0.22 1.49 61.17 57.19
BNKU Bank United Corp. 2.55 7.30 4.90 2.40 0.78 1.96 51.00 35.12
BPLS Bank Plus Corp. 2.50 6.96 4.54 2.42 0.34 2.29 74.91 71.38
BSBC Branford Savings Bank 4.33 7.63 3.38 4.25 0.40 3.35 70.75 68.03
BTHL Bethel Bancorp 4.39 8.43 4.25 4.18 0.73 3.83 75.36 71.06
BVCC Bay View Capital Corp. 2.87 7.70 4.87 2.82 0.49 2.18 63.53 57.25
BWFC Bank West Financial Corp. 3.13 7.32 4.36 2.95 0.51 2.49 71.93 67.05
BYFC Broadway Financial Corp. 4.49 7.60 3.26 4.34 0.50 3.86 76.99 74.31
CAFI Camco Financial Corp. 3.61 7.65 4.23 3.42 0.54 2.39 59.81 53.51
CAPS Capital Savings Bancorp Inc. 3.22 7.63 4.46 3.17 0.55 2.08 55.84 48.16
CASB Cascade Financial Corp. 2.77 7.68 5.01 2.68 0.32 2.07 68.12 64.34
CASH First Midwest Financial Inc. 3.30 7.87 4.68 3.19 0.37 1.99 52.83 47.43
CATB Catskill Financial Corp. 4.15 7.31 3.22 4.09 0.14 1.90 45.69 43.82
CBCI Calumet Bancorp Inc. 3.92 7.89 4.26 3.63 0.14 1.17 46.83 44.83
CBES CBES Bancorp Inc. 4.42 7.95 3.68 4.27 0.53 3.02 62.53 57.92
CBK Citizens First Financial Corp. 3.33 7.49 4.30 3.19 0.49 2.61 70.90 66.47
CBSA Coastal Bancorp Inc. 2.05 6.98 4.98 1.99 0.22 1.47 62.31 58.21
CBSB Charter Financial Inc. 3.87 7.66 4.04 3.62 0.61 2.17 47.05 38.18
CCFH CCF Holding Company 4.01 7.49 3.72 3.76 0.83 5.11 111.24 113.71
CEBK Central Co-operative Bank 3.60 6.98 3.60 3.38 0.23 2.43 64.92 62.48
CENB Century Bancorp Inc. 4.07 7.61 3.75 3.85 0.08 1.16 29.58 28.09
CENF CENFED Financial Corp. 2.32 7.26 5.02 2.25 0.35 1.43 52.78 45.36
CFB Commercial Federal Corp. 2.54 7.40 4.95 2.45 0.87 1.71 47.98 29.52
CFBC Community First Banking Co. 3.83 7.56 3.88 3.68 0.94 3.47 74.86 68.41
CFCP Coastal Financial Corp. 3.95 7.95 4.22 3.72 0.65 2.46 55.62 47.90
CFFC Community Financial Corp. 3.97 7.84 4.03 3.81 0.40 2.30 54.51 49.69
CFNC Carolina Fincorp Inc. 3.97 7.41 3.55 3.87 0.50 2.41 55.12 49.34
CFSB CFSB Bancorp Inc. 3.09 7.37 4.34 3.02 0.65 1.88 50.86 40.29
CFTP Community Federal Bancorp 3.64 7.00 3.40 3.60 0.19 1.78 47.02 44.26
CFX CFX Corp. 3.94 7.37 3.77 3.61 0.75 2.92 65.90 58.83
CIBI Community Investors Bancorp 3.51 7.70 4.29 3.41 0.17 1.99 55.61 53.43
CKFB CKF Bancorp Inc. 3.86 7.63 3.83 3.79 0.09 1.67 42.86 41.46
CLAS Classic Bancshares Inc. 3.86 7.23 3.60 3.63 0.33 2.81 68.49 65.63
33
Income Statement as of The Most Recent Quarter
--------------------------------------------------------------------------------------------
Net Interest Interest Net Interest Noninterest Noninterest
Interest Income/ Expense/ Income/ Income/ Expense/ Efficiency Overhead
Margin Avg Assets Avg Assets Avg Assets Avg Assets Avg Assets Ratio Ratio
Ticker Short Name (%) (%) (%) (%) (%) (%) (%) (%)
- -------------------------------------- --------------------------------------------------------------------------------------------
CMRN Cameron Financial Corp 4.08 8.00 4.10 3.90 0.09 1.84 46.10 44.87
CMSB Commonwealth Bancorp Inc. 3.40 6.93 3.76 3.18 0.54 2.97 72.23 67.51
CMSV Community Savings FA (MHC) 3.52 7.26 3.94 3.32 0.56 2.61 67.33 61.80
CNIT CENIT Bancorp Inc. 3.26 7.29 4.22 3.07 0.66 2.39 62.06 53.93
CNSB CNS Bancorp Inc. 3.66 7.22 3.70 3.53 0.16 2.14 58.17 56.24
CNY Carver Bancorp Inc. 2.97 6.49 3.65 2.84 0.30 2.45 76.07 73.53
COFI Charter One Financial 2.82 7.36 4.62 2.74 0.49 1.32 40.05 29.39
CONE Conestoga Bancorp, Inc. 2.84 6.42 3.68 2.73 0.16 2.05 70.85 69.16
COOP Cooperative Bankshares Inc. 3.02 7.35 4.42 2.92 0.14 2.03 66.40 64.75
CRZY Crazy Woman Creek Bancorp 3.71 7.37 3.73 3.64 0.13 1.75 46.48 44.58
CSA Coast Savings Financial 2.73 7.04 4.61 2.43 0.55 1.69 54.81 44.52
CSBF CSB Financial Group Inc. 3.40 6.68 3.40 3.28 0.19 2.58 70.71 69.02
CTZN CitFed Bancorp Inc. 2.51 7.01 4.62 2.39 1.13 2.00 53.83 32.06
CVAL Chester Valley Bancorp Inc. 3.86 7.65 3.87 3.78 0.38 2.53 60.57 56.63
DCBI Delphos Citizens Bancorp Inc. 3.96 7.32 3.45 3.86 0.19 1.70 41.95 39.03
DIBK Dime Financial Corp. 3.44 7.34 3.97 3.37 0.23 1.61 42.94 39.02
DIME Dime Community Bancorp Inc. 4.07 7.38 3.50 3.87 0.27 2.22 47.83 44.17
DME Dime Bancorp Inc. 2.51 6.87 4.45 2.41 0.44 1.52 51.74 42.86
DNFC D & N Financial Corp. 3.09 7.74 4.73 3.02 0.41 2.13 61.89 56.68
DSL Downey Financial Corp. 2.75 7.29 4.66 2.63 0.26 1.76 62.33 58.66
EBSI Eagle Bancshares 4.15 8.39 4.55 3.85 1.55 3.96 75.30 65.37
EFBC Empire Federal Bancorp Inc. 4.46 7.13 2.75 4.38 0.65 2.40 47.65 39.83
EFBI Enterprise Federal Bancorp 2.98 7.70 4.77 2.93 0.04 1.58 52.98 52.39
EGFC Eagle Financial Corp. 3.31 7.05 3.88 3.17 0.33 2.38 57.59 53.22
EGLB Eagle BancGroup Inc. 2.64 7.27 4.72 2.55 0.20 2.18 79.66 78.09
EIRE Emerald Isle Bancorp Inc. 3.58 7.78 4.30 3.48 0.17 2.10 57.41 55.31
EMLD Emerald Financial Corp. 2.87 7.54 4.74 2.80 0.27 1.52 48.88 43.98
EQSB Equitable Federal Savings Bank 2.38 7.22 4.91 2.31 0.52 1.75 60.61 51.69
ESBK Elmira Savings Bank (The) 3.73 7.56 4.04 3.52 0.83 3.42 77.15 71.79
ESX Essex Bancorp Inc. 3.14 7.90 4.94 2.96 1.29 3.63 75.22 64.40
ETFS East Texas Financial Services 3.06 6.97 3.96 3.01 0.23 2.20 68.06 65.60
FAB FirstFed America Bancorp Inc. 3.06 7.19 4.24 2.96 0.47 1.89 54.61 47.46
FBBC First Bell Bancorp Inc. 2.39 7.02 4.66 2.36 0.09 0.73 29.78 27.24
FBCI Fidelity Bancorp Inc. 3.00 7.33 4.40 2.94 0.24 1.88 58.76 55.39
FBCV 1ST Bancorp 2.69 7.57 5.01 2.56 0.31 2.58 86.62 85.02
FBER 1st Bergen Bancorp 3.58 7.24 3.78 3.46 0.08 2.07 60.27 59.30
FBHC Fort Bend Holding Corp. 3.38 7.01 3.95 3.07 1.87 3.93 80.47 68.57
FBNW FirstBank Corp. 4.04 7.95 4.12 3.83 0.78 4.06 88.21 85.82
FBSI First Bancshares Inc. 3.52 7.62 4.27 3.35 0.34 2.10 56.38 51.93
FCB Falmouth Co-Operative Bank 3.70 6.64 3.03 3.61 0.12 2.63 70.61 69.65
FCBF FCB Financial Corp. 3.76 8.40 4.71 3.69 0.40 1.97 48.16 42.61
FCME First Coastal Corp. 4.35 7.97 3.94 4.02 0.38 3.26 72.04 69.41
FDEF First Defiance Financial 4.25 7.80 3.76 4.04 0.23 2.45 56.31 53.84
FED FirstFed Financial Corp. 2.32 7.11 4.89 2.21 0.23 1.01 42.35 36.35
FESX First Essex Bancorp Inc. 3.32 7.58 4.38 3.19 0.23 2.00 54.87 51.56
FFBA First Colorado Bancorp Inc. 3.35 7.17 3.96 3.21 0.35 1.57 44.53 38.56
FFBH First Federal Bancshares of AR 3.25 7.62 4.42 3.20 0.25 2.19 66.37 63.71
FFBI First Financial Bancorp Inc. 3.08 7.42 4.44 2.97 0.60 2.99 83.79 80.54
FFBS FFBS BanCorp Inc. 3.74 7.51 3.83 3.68 0.43 1.97 47.98 41.83
FFBZ First Federal Bancorp Inc. 3.96 7.71 4.14 3.58 0.54 2.47 60.34 54.36
FFCH First Financial Holdings Inc. 3.11 7.50 4.50 3.00 0.73 2.25 60.32 50.73
FFDB FirstFed Bancorp Inc. 3.72 7.70 4.11 3.59 0.52 2.50 59.26 53.40
FFDF FFD Financial Corp. 3.34 6.88 3.58 3.30 0.07 1.83 54.43 53.47
FFED Fidelity Federal Bancorp 2.59 7.81 5.38 2.43 1.85 3.11 72.52 51.53
FFES First Federal of East Hartford 2.40 6.79 4.45 2.34 0.16 1.42 57.14 54.26
FFFC FFVA Financial Corp. 3.82 7.87 4.16 3.71 0.22 1.82 45.64 42.44
FFFD North Central Bancshares Inc. 4.07 7.61 3.67 3.94 1.16 2.17 42.48 25.59
FFFG F.F.O. Financial Group Inc. 3.78 7.61 4.03 3.58 0.75 3.09 70.89 64.79
FFFL Fidelity Bankshares Inc. (MHC) 3.31 7.26 4.13 3.13 0.41 2.49 68.67 64.53
FFHC First Financial Corp. 3.42 7.56 4.27 3.29 0.78 1.85 44.06 30.76
FFHH FSF Financial Corp. 3.13 7.44 4.40 3.04 0.42 1.96 56.68 50.62
FFHS First Franklin Corporation 2.76 7.24 4.57 2.68 0.17 1.73 59.32 56.68
FFIC Flushing Financial Corp. 3.92 7.55 3.79 3.77 0.21 2.10 52.71 50.05
FFKY First Federal Financial Corp. 4.24 7.95 3.96 3.98 0.58 2.09 44.41 36.31
34
Income Statement as of The Most Recent Quarter
--------------------------------------------------------------------------------------------
Net Interest Interest Net Interest Noninterest Noninterest
Interest Income/ Expense/ Income/ Income/ Expense/ Efficiency Overhead
Margin Avg Assets Avg Assets Avg Assets Avg Assets Avg Assets Ratio Ratio
Ticker Short Name (%) (%) (%) (%) (%) (%) (%) (%)
- -------------------------------------- --------------------------------------------------------------------------------------------
FFLC FFLC Bancorp Inc. 3.55 7.35 4.00 3.35 0.23 2.01 56.13 53.11
FFOH Fidelity Financial of Ohio 3.15 7.32 4.29 3.03 0.21 1.76 50.09 46.55
FFPB First Palm Beach Bancorp Inc. 3.00 7.47 4.59 2.88 0.38 2.18 64.93 60.25
FFSL First Independence Corp. 2.86 7.37 4.58 2.80 0.25 1.95 63.23 59.90
FFSX First Fed SB of Siouxland(MHC) 3.12 7.46 4.47 2.98 0.60 2.39 66.35 59.62
FFWC FFW Corp. 3.25 7.69 4.54 3.15 0.46 2.05 56.90 50.65
FFWD Wood Bancorp Inc. 4.26 8.09 3.98 4.11 0.25 2.27 52.02 49.08
FFYF FFY Financial Corp. 3.77 7.82 4.15 3.67 0.18 1.85 48.04 45.50
FGHC First Georgia Holding Inc. 4.31 8.37 4.45 3.92 0.79 3.11 64.51 57.32
FIBC Financial Bancorp Inc. 3.89 7.41 3.69 3.71 0.23 2.09 53.37 50.49
FISB First Indiana Corporation 4.36 8.39 4.23 4.17 0.81 2.78 56.08 47.54
FKFS First Keystone Financial 3.35 7.33 4.11 3.22 0.31 2.18 61.48 57.76
FKKY Frankfort First Bancorp Inc. 3.69 7.25 3.64 3.61 0.04 2.05 56.05 55.56
FLAG FLAG Financial Corp. 3.68 7.38 4.04 3.34 1.26 3.38 72.44 62.07
FLFC First Liberty Financial Corp. 3.92 7.88 4.31 3.58 0.81 2.67 58.06 48.52
FLGS Flagstar Bancorp Inc. 2.80 7.09 4.63 2.46 4.01 3.99 61.79 (0.44)
FLKY First Lancaster Bancshares 4.99 8.08 3.16 4.93 0.00 2.64 53.57 53.57
FMBD First Mutual Bancorp Inc. 2.98 6.93 4.17 2.76 0.35 2.45 75.01 71.83
FMCO FMS Financial Corporation 3.77 7.28 3.68 3.60 0.44 2.36 55.93 50.50
FMSB First Mutual Savings Bank 3.70 8.37 4.70 3.67 0.34 2.23 55.65 51.59
FNGB First Northern Capital Corp. 3.28 7.26 4.10 3.16 0.44 2.12 58.89 53.21
FOBC Fed One Bancorp 3.44 7.26 3.91 3.35 0.16 1.99 54.40 52.21
FPRY First Financial Bancorp 3.15 7.62 4.63 2.98 0.52 2.92 82.09 78.98
FRC First Republic Bancorp 2.52 7.80 5.30 2.50 0.16 1.53 49.11 45.84
FSBI Fidelity Bancorp Inc. 3.02 6.91 3.97 2.93 0.24 1.86 58.76 55.42
FSFC First Southeast Financial Corp 3.32 7.50 4.30 3.20 0.33 1.75 50.19 45.00
FSLA First Savings Bank (MHC) 3.21 7.10 3.99 3.11 0.20 1.73 49.34 46.04
FSNJ Bayonne Bancshares Inc. 2.48 6.71 4.28 2.43 0.26 1.76 65.61 61.90
FSPG First Home Bancorp Inc. 3.06 7.59 4.61 2.98 0.22 1.83 55.44 52.13
FSPT FirstSpartan Financial Corp. 3.53 7.51 4.06 3.45 0.40 2.06 53.35 47.94
FSSB First FS&LA of San Bernardino 3.67 7.74 4.33 3.41 0.89 4.27 100.81 101.02
FSTC First Citizens Corp. 4.56 7.90 3.57 4.33 0.66 (0.81) 61.28 55.39
FTF Texarkana First Financial Corp 4.02 8.01 4.09 3.92 0.45 1.39 32.33 24.60
FTFC First Federal Capital Corp. 3.07 7.47 4.56 2.91 1.22 2.54 60.99 44.63
FTNB Fulton Bancorp Inc. 3.69 7.50 3.87 3.63 0.49 2.43 59.22 53.66
FTSB Fort Thomas Financial Corp. 4.27 8.66 4.47 4.19 0.30 2.33 51.95 48.45
FWWB First SB of Washington Bancorp 3.79 7.82 4.18 3.64 0.3 1.93 46.6 42.14
GAF GA Financial Inc. 3.67 7.27 3.74 3.54 0.23 1.99 51.99 48.83
GBCI Glacier Bancorp Inc. 4.65 7.85 3.56 4.29 1.44 2.99 51.69 35.51
GDVS Greater Delaware Valley (MHC) 3.53 7.14 3.72 3.42 0.23 2.28 62.30 59.76
GDW Golden West Financial 2.31 7.13 4.89 2.24 0.17 0.81 33.70 28.57
GFCO Glenway Financial Corp. 3.27 7.52 4.37 3.15 0.26 2.03 57.00 53.49
GFED Guaranty Federal SB (MHC) 3.55 7.78 4.39 3.39 0.32 2.13 57.50 53.55
GFSB GFS Bancorp Inc. 3.59 8.21 4.64 3.56 0.24 1.79 47.20 43.71
GOSB GSB Financial Corp. 2.89 5.52 2.72 2.81 0.20 2.31 76.75 75.06
GPT GreenPoint Financial Corp. 3.94 7.36 3.69 3.67 0.35 2.01 42.04 36.55
GRTR Greater New York Savings Bank 3.12 7.00 4.04 2.96 0.27 1.99 59.13 55.36
GSB Golden State Bancorp Inc. 2.68 7.05 4.50 2.55 0.61 1.80 54.77 43.94
GSBC Great Southern Bancorp Inc. 3.97 8.02 4.21 3.81 1.53 2.59 48.46 27.73
GSFC Green Street Financial Corp. 4.47 7.41 3.00 4.41 0.05 1.79 40.12 39.47
GSLA GS Financial Corp. 5.02 7.09 2.26 4.83 0.02 2.03 41.88 41.63
GTFN Great Financial Corporation 2.91 7.41 4.67 2.74 0.87 2.33 63.38 51.79
GTPS Great American Bancorp 4.21 7.25 3.29 3.96 0.51 3.39 76.22 73.16
GUPB GFSB Bancorp Inc. 3.13 7.07 3.97 3.10 0.05 1.76 56.02 55.28
GWBC Gateway Bancorp Inc. 3.37 6.91 3.58 3.33 0.01 1.80 53.69 53.52
HALL Hallmark Capital Corp. 2.51 7.63 5.18 2.45 0.23 1.52 56.77 52.78
HARB Harbor Florida Bancorp (MHC) 3.74 7.75 4.12 3.63 0.31 1.88 47.80 43.30
HARL Harleysville Savings Bank 2.89 7.46 4.64 2.82 0.12 1.21 42.08 39.68
HARS Harris Savings Bank (MHC) 2.67 7.18 4.62 2.56 0.28 1.71 56.99 52.21
HAVN Haven Bancorp Inc. 3.21 7.26 4.19 3.07 0.65 2.65 70.56 64.36
HBBI Home Building Bancorp 3.48 7.51 4.13 3.38 0.24 2.39 65.93 63.52
HBEI Home Bancorp of Elgin Inc. 4.29 7.06 2.93 4.13 0.28 3.06 69.36 67.27
HBFW Home Bancorp 2.95 7.44 4.56 2.89 0.08 1.41 47.51 46.08
HBNK Highland Federal Bank FSB 4.40 8.76 4.70 4.05 0.35 2.08 46.71 42.17
35
Income Statement as of The Most Recent Quarter
--------------------------------------------------------------------------------------------
Net Interest Interest Net Interest Noninterest Noninterest
Interest Income/ Expense/ Income/ Income/ Expense/ Efficiency Overhead
Margin Avg Assets Avg Assets Avg Assets Avg Assets Avg Assets Ratio Ratio
Ticker Short Name (%) (%) (%) (%) (%) (%) (%) (%)
- -------------------------------------- --------------------------------------------------------------------------------------------
HBS Haywood Bancshares Inc. 3.44 7.44 4.17 3.28 0.32 1.81 57.61 53.50
HCBB HCB Bancshares Inc. 2.76 7.17 4.51 2.65 0.27 2.26 72.89 70.18
HCFC Home City Financial Corp. 3.93 8.14 4.30 3.84 0.13 2.18 54.80 53.28
HEMT HF Bancorp Inc. 2.50 6.97 4.56 2.40 0.23 2.29 76.94 74.74
HFFB Harrodsburg First Fin Bancorp 3.65 7.13 3.54 3.59 0.10 1.53 41.46 39.84
HFFC HF Financial Corp. 3.69 8.01 4.50 3.51 1.22 3.02 61.26 47.80
HFGI Harrington Financial Group 1.51 6.72 5.23 1.48 0.05 1.04 67.79 66.63
HFNC HFNC Financial Corp. 3.27 7.60 4.46 3.14 0.12 1.86 57.40 55.80
HFSA Hardin Bancorp Inc. 2.94 7.52 4.65 2.87 0.24 1.75 56.61 52.95
HHFC Harvest Home Financial Corp. 2.82 7.24 4.47 2.77 0.07 1.63 57.52 56.51
HIFS Hingham Instit. for Savings 4.08 7.78 3.83 3.96 0.30 2.12 49.89 46.08
HMCI HomeCorp Inc. 3.17 7.20 4.30 2.90 0.62 2.61 85.80 82.75
HMLK Hemlock Federal Financial Corp 3.59 6.91 3.35 3.56 0.24 2.01 53.04 49.93
HMNF HMN Financial Inc. 2.81 7.24 4.49 2.76 0.16 1.52 51.92 49.08
HOMF Home Federal Bancorp 3.71 7.91 4.38 3.53 0.85 2.33 54.83 43.93
HPBC Home Port Bancorp Inc. 4.70 8.23 3.68 4.55 0.44 2.15 43.18 37.70
HRBF Harbor Federal Bancorp Inc. 3.04 7.38 4.40 2.98 0.11 1.83 59.14 57.58
HRZB Horizon Financial Corp. 3.58 7.69 4.17 3.52 0.27 1.39 36.65 31.88
HTHR Hawthorne Financial Corp. 3.79 8.72 5.04 3.68 0.39 2.22 59.90 55.69
HVFD Haverfield Corp. 3.65 7.96 4.38 3.58 0.57 2.55 61.35 55.21
HWEN Home Financial Bancorp 4.14 8.54 4.56 3.98 0.52 3.18 71.80 68.14
HZFS Horizon Financial Svcs Corp. 3.19 7.64 4.52 3.12 0.42 2.31 65.47 60.78
IBSF IBS Financial Corp. 3.19 7.02 3.93 3.09 0.11 1.85 57.85 56.32
IFSB Independence Federal Svgs Bank 2.64 7.18 4.71 2.47 1.03 3.12 83.64 76.86
INBI Industrial Bancorp 4.09 8.03 4.02 4.02 0.13 1.79 43.29 41.45
INCB Indiana Community Bank SB 4.45 7.76 3.44 4.32 0.90 3.97 76.08 71.08
IPSW Ipswich Savings Bank 3.77 7.27 3.69 3.58 0.60 2.36 57.74 50.69
ISBF ISB Financial Corporation 3.64 7.23 3.84 3.39 0.68 2.71 62.98 55.62
ITLA ITLA Capital Corp. 5.01 9.98 5.02 4.96 0.17 2.25 43.28 41.29
IWBK InterWest Bancorp Inc. 3.33 7.62 4.49 3.13 0.69 2.08 54.28 44.25
JOAC Joachim Bancorp Inc. 4.23 7.20 3.05 4.15 0.12 2.74 66.05 65.03
JSB JSB Financial Inc. 4.57 7.05 2.59 4.46 0.27 1.64 37.17 33.33
JSBA Jefferson Savings Bancorp 3.22 7.74 4.62 3.12 0.19 1.81 51.32 48.41
JXSB Jacksonville Savings Bk (MHC) 3.58 7.54 4.24 3.30 0.41 2.76 74.36 71.15
JXVL Jacksonville Bancorp Inc. 4.37 8.28 4.02 4.26 0.58 2.02 46.59 39.26
KFBI Klamath First Bancorp 3.32 7.39 4.12 3.26 0.06 1.38 41.55 40.51
KNK Kankakee Bancorp Inc. 3.29 7.28 4.13 3.15 0.44 2.38 64.07 59.05
KSAV KS Bancorp Inc. 4.21 8.37 4.36 4.01 0.14 1.89 45.11 43.15
KSBK KSB Bancorp Inc. 4.38 8.20 3.96 4.24 0.77 3.31 64.56 58.11
KYF Kentucky First Bancorp Inc. 3.47 7.11 3.73 3.38 0.18 1.80 50.63 47.94
LARK Landmark Bancshares Inc. 3.11 7.44 4.38 3.06 0.24 1.48 44.69 40.30
LARL Laurel Capital Group Inc. 3.75 7.46 3.80 3.66 0.28 1.73 43.60 39.26
LFBI Little Falls Bancorp Inc. 2.69 6.64 4.05 2.59 0.09 1.71 58.57 57.20
LFCO Life Financial Corp. 4.41 9.41 5.58 3.83 7.70 5.62 48.59 (54.67)
LFED Leeds Federal Savings Bk (MHC) 2.98 7.02 4.09 2.93 0.10 0.98 32.45 30.15
LIFB Life Bancorp Inc. 2.69 7.40 4.78 2.61 0.22 1.34 45.14 40.62
LISB Long Island Bancorp Inc. 2.88 6.96 4.18 2.78 0.40 1.90 61.13 55.49
LOGN Logansport Financial Corp. 3.91 7.52 3.75 3.77 0.15 1.58 40.15 37.73
LONF London Financial Corporation 3.71 7.56 3.89 3.68 0.15 2.59 67.86 66.57
LSBI LSB Financial Corp. 3.54 7.76 4.44 3.32 0.34 2.46 67.16 63.82
LSBX Lawrence Savings Bank 3.29 7.27 4.07 3.20 0.30 2.14 61.03 57.37
LVSB Lakeview Financial 3.57 7.02 3.62 3.41 0.83 2.39 49.11 36.65
LXMO Lexington B&L Financial Corp. 3.99 7.77 3.85 3.91 0.13 1.69 41.86 39.86
MAFB MAF Bancorp Inc. 2.99 7.19 4.34 2.84 0.46 1.44 47.79 39.25
MARN Marion Capital Holdings 4.35 7.86 3.80 4.06 0.26 2.20 44.44 40.82
MASB MASSBANK Corp. 2.94 6.71 3.82 2.89 0.23 1.43 44.73 40.24
MBB MSB Bancorp Inc. 3.34 6.76 3.69 3.07 0.50 2.50 56.98 50.05
MBBC Monterey Bay Bancorp Inc. 2.81 7.12 4.44 2.69 0.32 2.30 69.99 66.44
MBLF MBLA Financial Corp. 2.19 7.02 4.85 2.17 0.00 0.64 29.44 29.32
MBSP Mitchell Bancorp Inc. 5.32 7.87 2.70 5.17 0.00 2.41 46.17 46.17
MCBN Mid-Coast Bancorp Inc. 3.97 7.87 4.22 3.65 0.43 2.84 69.12 65.45
MCBS Mid Continent Bancshares Inc. 2.67 7.00 4.50 2.49 1.99 2.43 54.28 17.87
MDBK Medford Savings Bank 3.29 6.97 3.80 3.17 0.24 1.71 47.22 43.31
MECH Mechanics Savings Bank 3.90 7.13 3.42 3.71 0.95 2.96 63.40 54.02
36
Income Statement as of The Most Recent Quarter
--------------------------------------------------------------------------------------------
Net Interest Interest Net Interest Noninterest Noninterest
Interest Income/ Expense/ Income/ Income/ Expense/ Efficiency Overhead
Margin Avg Assets Avg Assets Avg Assets Avg Assets Avg Assets Ratio Ratio
Ticker Short Name (%) (%) (%) (%) (%) (%) (%) (%)
- -------------------------------------- --------------------------------------------------------------------------------------------
MERI Meritrust Federal SB 3.68 7.37 3.83 3.53 0.75 2.26 53.40 43.50
METF Metropolitan Financial Corp. 3.40 8.17 4.94 3.23 0.41 2.42 65.37 60.92
MFBC MFB Corp. 3.21 7.50 4.34 3.16 0.18 1.92 57.60 55.19
MFCX Marshalltown Financial Corp. 2.71 6.96 4.29 2.67 0.09 1.71 62.36 61.16
MFFC Milton Federal Financial Corp. 3.08 7.35 4.36 2.99 0.13 2.00 64.41 62.82
MFLR Mayflower Co-operative Bank 3.98 7.46 3.70 3.76 0.35 2.45 58.64 54.85
MFSL Maryland Federal Bancorp 2.74 7.28 4.59 2.68 0.22 1.56 52.52 48.69
MGNL Magna Bancorp Inc. 5.54 8.42 3.51 4.91 2.80 5.13 61.72 39.94
MIFC Mid-Iowa Financial Corp. 3.02 7.35 4.39 2.96 1.07 2.20 54.94 38.68
MIVI Mississippi View Holding Co. 3.90 7.41 3.56 3.85 0.25 2.22 55.94 53.06
MLBC ML Bancorp Inc. 3.26 7.33 4.25 3.08 0.50 2.38 65.50 59.89
MONT Montgomery Financial Corp. 3.03 7.75 4.84 2.91 0.01 1.81 64.77 64.62
MRKF Market Financial Corp. 3.84 6.83 3.03 3.80 0.01 2.08 54.46 54.38
MSBF MSB Financial Inc. 4.79 8.22 3.59 4.63 0.38 2.55 51.02 47.03
MSBK Mutual Savings Bank FSB 1.71 6.37 4.71 1.67 0.44 2.12 101.82 102.30
MWBI Midwest Bancshares Inc. 2.91 7.47 4.64 2.83 0.22 1.73 56.92 53.60
MWBX MetroWest Bank 4.08 7.68 3.79 3.89 0.52 2.64 56.62 50.85
MWFD Midwest Federal Financial 3.96 8.09 4.27 3.83 0.83 2.83 59.58 50.82
NASB North American Savings Bank 3.51 8.29 4.85 3.44 0.79 2.08 49.48 37.85
NBN Northeast Bancorp 4.05 8.39 4.47 3.92 0.94 3.54 70.52 63.49
NBSI North Bancshares Inc. 3.30 7.33 4.09 3.24 0.21 2.66 77.13 75.67
NEIB Northeast Indiana Bancorp 3.58 7.84 4.31 3.53 0.35 1.76 45.22 39.75
NHTB New Hampshire Thrift Bncshrs 4.07 8.22 4.40 3.82 0.65 2.90 61.63 55.09
NASB NewMil Bancorp Inc. 3.87 7.29 3.55 3.74 0.45 2.66 65.08 60.88
NSLB NS&L Bancorp Inc. 3.23 6.62 3.48 3.14 0.24 1.96 58.03 54.76
NSSB Norwich Financial Corp. 4.41 7.53 3.36 4.17 0.53 2.79 54.86 49.12
NSSY Norwalk Savings Society 2.95 7.00 4.13 2.87 0.69 2.45 67.72 59.96
NTMG Nutmeg Federal S&LA 4.15 7.25 3.30 3.95 1.14 3.80 74.18 66.74
NWEQ Northwest Equity Corp. 3.83 8.02 4.41 3.61 0.48 2.35 56.10 50.29
NWSB Northwest Savings Bank (MHC) 4.01 8.02 4.23 3.79 0.29 2.34 55.66 52.29
NYB New York Bancorp Inc. 3.91 7.72 3.87 3.85 0.37 1.48 34.46 28.19
OCFC Ocean Financial Corp. 3.15 6.93 3.85 3.08 0.16 1.67 51.39 48.81
OCN Ocwen Financial Corp. 4.81 9.80 5.69 4.11 0.78 3.28 84.26 81.29
OFCP Ottawa Financial Corp. 3.44 7.45 4.28 3.18 0.43 2.15 55.63 49.56
OHSL OHSL Financial Corp. 3.23 7.70 4.53 3.16 0.13 1.99 60.56 58.91
PALM Palfed Inc. 4.09 8.25 4.38 3.87 0.59 2.99 62.61 56.96
PAMM PacificAmerica Money Center 8.34 8.77 3.59 5.18 61.45 41.43 61.93 (389.68)
PBCI Pamrapo Bancorp Inc. 4.75 7.77 3.24 4.53 0.31 2.48 49.66 46.22
PBCT People's Bank (MHC) 3.42 6.62 3.48 3.15 2.29 4.06 72.79 52.96
PBHC Oswego City Savings Bk (MHC) 4.19 7.35 3.54 3.81 0.66 2.77 58.35 51.18
PBKB People's Bancshares Inc. 3.48 7.35 4.05 3.30 0.32 2.82 75.89 73.57
PCBC Perry County Financial Corp. 2.99 6.90 3.96 2.94 0.04 1.08 36.33 35.47
PCCI Pacific Crest Capital 4.41 9.36 5.03 4.33 0.17 2.43 53.66 51.85
PDB Piedmont Bancorp Inc. 3.99 7.85 3.97 3.88 0.25 2.09 50.61 47.41
PEEK Peekskill Financial Corp. 3.73 6.79 3.10 3.69 0.13 1.81 47.41 45.53
PERM Permanent Bancorp Inc. 2.72 7.15 4.53 2.62 0.43 1.97 63.88 57.97
PERT Perpetual Bank (MHC) 3.84 7.73 4.02 3.72 1.07 3.03 63.44 52.90
PETE Primary Bank 3.79 7.31 3.77 3.54 0.76 3.16 72.04 66.06
PFDC Peoples Bancorp 3.79 7.78 4.02 3.76 0.21 1.46 36.84 33.30
PFED Park Bancorp Inc. 3.59 7.08 3.62 3.46 0.07 2.19 67.39 66.75
PFFB PFF Bancorp Inc. 2.91 7.23 4.41 2.83 0.48 1.98 56.45 48.99
PFFC Peoples Financial Corp. 3.71 7.00 3.38 3.62 0.02 2.26 61.97 61.73
PFNC Progress Financial Corp. 4.58 8.24 3.98 4.26 1.19 3.93 70.90 62.75
PFSB PennFed Financial Services Inc 2.66 7.13 4.57 2.55 0.16 1.37 43.42 39.96
PFSL Pocahontas FS&LA (MHC) 2.05 7.01 5.01 2.00 0.31 1.25 54.24 47.16
PHBK Peoples Heritage Finl Group 4.74 7.71 3.33 4.38 0.90 3.26 59.08 50.63
PHFC Pittsburgh Home Financial Corp 3.10 7.59 4.59 3.00 0.15 1.81 56.23 54.05
PHSB Peoples Home Savings Bk (MHC) 3.43 7.22 3.90 3.32 0.36 2.71 73.01 70.06
PKPS Poughkeepsie Financial Corp. 3.31 7.67 4.51 3.16 0.40 2.45 66.40 62.11
PLSK Pulaski Savings Bank (MHC) 3.07 6.91 3.93 2.98 0.07 1.89 60.95 60.04
PMFI Perpetual Midwest Financial 2.96 7.72 4.90 2.82 0.40 2.11 65.23 60.30
PRBC Prestige Bancorp Inc. 3.25 7.01 3.85 3.16 0.29 2.27 65.78 62.62
PROV Provident Financial Holdings 3.23 7.10 4.01 3.09 0.66 2.98 79.10 74.64
PSBK Progressive Bank Inc. 4.14 7.82 3.90 3.92 0.37 2.44 52.02 47.49
37
Income Statement as of The Most Recent Quarter
--------------------------------------------------------------------------------------------
Net Interest Interest Net Interest Noninterest Noninterest
Interest Income/ Expense/ Income/ Income/ Expense/ Efficiency Overhead
Margin Avg Assets Avg Assets Avg Assets Avg Assets Avg Assets Ratio Ratio
Ticker Short Name (%) (%) (%) (%) (%) (%) (%) (%)
- -------------------------------------- --------------------------------------------------------------------------------------------
PSFC Peoples-Sidney Financial Corp. 3.27 7.69 4.49 3.20 0.07 1.67 50.92 49.80
PSFI PS Financial Inc. 5.16 7.45 2.38 5.08 0.08 1.72 33.40 32.35
PTRS Potters Financial Corp. 3.36 7.12 3.87 3.25 0.31 2.41 67.64 64.52
PULB Pulaski Bank, Svgs Bank (MHC) 3.77 7.59 3.91 3.68 0.26 2.31 58.54 55.64
PULS Pulse Bancorp 2.73 7.05 4.38 2.67 0.07 1.03 37.77 36.09
PVFC PVF Capital Corp. 4.11 8.79 4.70 4.09 0.28 2.36 54.47 51.31
PVSA Parkvale Financial Corporation 2.98 7.22 4.28 2.95 0.23 1.47 45.57 41.36
PWBC PennFirst Bancorp Inc. 2.24 6.95 4.78 2.18 0.12 1.13 45.99 42.91
PWBK Pennwood Bancorp Inc. 4.51 7.90 3.65 4.25 0.22 2.56 53.42 50.97
QCBC Quaker City Bancorp Inc. 3.12 7.71 4.65 3.06 0.35 1.91 52.15 46.68
QCFB QCF Bancorp Inc. 4.05 7.09 3.07 4.02 0.35 1.82 41.66 36.64
QCSB Queens County Bancorp Inc. 4.60 8.20 3.73 4.46 0.15 1.93 41.81 39.88
RARB Raritan Bancorp Inc. 3.63 7.24 3.75 3.50 0.25 1.99 51.99 48.51
RCSB RCSB Financial Inc. 3.56 7.57 4.25 3.32 1.57 3.23 66.70 50.95
REDF RedFed Bancorp Inc. 3.38 7.03 3.85 3.18 0.73 2.83 69.17 62.06
RELI Reliance Bancshares Inc. 5.14 7.72 2.63 5.10 0.04 5.06 98.51 98.49
RELY Reliance Bancorp Inc. 3.40 7.15 3.92 3.23 0.17 1.76 46.41 43.65
RIVR River Valley Bancorp 4.17 7.34 3.46 3.88 0.54 2.73 60.51 54.96
ROSE TR Financial Corp. 2.61 7.19 4.63 2.56 0.22 1.31 46.81 42.21
RSLN Roslyn Bancorp Inc. 3.38 7.20 3.91 3.30 0.22 1.42 39.71 35.69
RVSB Riverview Savings Bank (MHC) 4.45 8.15 3.96 4.18 0.75 2.89 55.67 47.75
SBFL SB of the Finger Lakes (MHC) 3.13 7.19 4.15 3.04 0.22 2.67 78.70 77.16
SBOS Boston Bancorp (The) 2.95 6.88 4.00 2.87 0.15 1.27 42.96 39.99
SCBS Southern Community Bancshares 4.24 7.11 2.90 4.20 0.43 2.76 59.46 55.28
SCCB S. Carolina Community Bancshrs 4.03 7.54 3.60 3.94 0.27 2.56 60.70 58.02
SECP Security Capital Corp. 3.71 7.64 4.06 3.58 0.56 1.78 43.06 34.12
SFED SFS Bancorp Inc. 3.47 7.22 3.84 3.37 0.24 2.47 68.46 66.18
SFFC StateFed Financial Corporation 3.53 7.79 4.45 3.34 0.26 1.09 56.51 53.16
SFIN Statewide Financial Corp. 3.79 7.46 3.78 3.68 0.23 2.51 64.15 61.92
SFNB Security First Network Bank 4.26 5.39 2.10 3.29 15.25 51.80 275.63 NA
SFSB SuburbFed Financial Corp. 2.87 7.12 4.33 2.79 0.68 2.56 73.65 67.24
SFSL Security First Corp. 4.02 8.26 4.39 3.87 0.26 2.03 49.02 45.61
SGVB SGV Bancorp Inc. 2.61 7.20 4.67 2.53 0.21 2.17 76.08 74.12
SHEN First Shenango Bancorp Inc. 3.28 7.48 4.26 3.22 0.17 1.44 41.70 38.61
SISB SIS Bancorp Inc. 3.76 7.11 3.55 3.56 0.78 2.84 65.01 57.30
SKAN Skaneateles Bancorp Inc. 4.12 7.72 3.82 3.90 0.71 3.34 71.50 66.30
SKBO First Carnegie Deposit (MHC) 2.76 6.70 4.00 2.69 0.06 1.53 55.77 54.80
SMBC Southern Missouri Bancorp Inc. 3.04 6.94 3.95 2.99 0.32 1.86 59.96 55.64
SMFC Sho-Me Financial Corp. 3.42 7.91 4.60 3.31 0.42 1.66 44.38 37.28
SOBI Sobieski Bancorp Inc. 3.42 7.23 3.91 3.32 0.05 2.29 67.85 67.37
SOPN First Savings Bancorp Inc. 3.93 7.71 3.86 3.85 0.19 1.19 29.63 26.17
SOSA Somerset Savings Bank 4.13 8.19 4.28 3.91 0.20 3.03 63.96 62.11
SPBC St. Paul Bancorp Inc 3.13 7.08 4.08 3.00 0.92 2.24 58.52 45.79
SRN Southern Banc Company Inc. 2.86 7.02 4.21 2.80 0.06 2.07 70.78 70.15
SSB Scotland Bancorp Inc 4.68 7.49 2.90 4.60 0.10 2.28 48.65 47.55
SSFC South Street Financial Corp. 3.40 7.33 4.03 3.29 0.05 1.40 41.81 41.00
SSM Stone Street Bancorp Inc. 4.78 7.75 3.18 4.58 0.20 3.20 66.96 65.54
STFR St. Francis Capital Corp. 2.83 7.28 4.64 2.64 0.32 2.02 65.50 61.31
STND Standard Financial Inc. 2.65 6.98 4.39 2.59 0.18 1.55 55.64 52.48
STSA Sterling Financial Corp. 2.90 7.68 4.93 2.76 0.55 2.36 67.17 60.66
SVRN Sovereign Bancorp Inc. 2.56 7.05 4.60 2.45 0.31 1.46 49.24 42.92
SWBI Southwest Bancshares 3.40 7.47 4.27 3.20 0.18 1.81 56.74 54.27
SWCB Sandwich Co-operative Bank 3.69 7.24 3.70 3.53 0.48 2.46 58.32 52.67
SZB SouthFirst Bancshares Inc. 3.85 7.52 3.94 3.58 1.51 4.13 81.08 73.11
TBK Tolland Bank 3.65 7.21 3.73 3.48 0.49 2.82 66.07 61.25
THR Three Rivers Financial Corp. 3.66 7.36 3.83 3.53 0.52 2.83 69.51 64.99
THRD TF Financial Corporation 3.23 6.95 3.84 3.11 0.21 2.08 57.93 55.09
TPNZ Tappan Zee Financial Inc. 3.78 7.37 3.68 3.69 0.13 2.32 60.41 59.05
TRIC Tri-County Bancorp Inc. 3.10 7.24 4.21 3.03 0.18 1.73 53.81 51.05
TSBS Peoples Bancorp Inc. (MHC) 3.70 6.93 3.41 3.52 0.25 1.95 48.90 45.21
TSH Teche Holding Co. 3.43 7.65 4.29 3.36 0.65 2.54 63.60 56.56
TWIN Twin City Bancorp 3.92 7.75 3.96 3.80 0.39 2.51 60.25 56.17
UBMT United Financial Corp. 3.82 7.09 3.41 3.68 0.56 1.98 46.73 38.63
UFRM United Federal Savings Bank 3.79 8.10 4.56 3.54 1.11 3.51 75.33 67.59
38
Income Statement as of The Most Recent Quarter
--------------------------------------------------------------------------------------------
Net Interest Interest Net Interest Noninterest Noninterest
Interest Income/ Expense/ Income/ Income/ Expense/ Efficiency Overhead
Margin Avg Assets Avg Assets Avg Assets Avg Assets Avg Assets Ratio Ratio
Ticker Short Name (%) (%) (%) (%) (%) (%) (%) (%)
- -------------------------------------- --------------------------------------------------------------------------------------------
USAB USABancshares, Inc. 4.79 9.40 4.75 4.65 0.76 4.16 72.13 67.58
VABF Virginia Beach Fed. Financial 3.25 8.03 4.88 3.16 0.40 2.59 72.42 68.92
VFFC Virginia First Financial Corp. 4.01 8.31 4.43 3.87 0.65 3.35 73.67 69.25
WAMU Washington Mutual Inc. 2.85 7.41 4.67 2.74 0.62 1.66 48.27 36.63
WAYN Wayne Savings & Loan Co. (MHC) 3.31 7.51 4.32 3.20 0.24 2.30 66.97 64.52
WBST Webster Financial Corp. 3.25 7.04 3.92 3.11 0.47 2.10 55.08 48.24
WCBI Westco Bancorp 3.70 7.61 4.01 3.60 0.26 1.61 41.69 37.41
WCFB Webster City Federal SB (MHC) 3.66 7.11 3.52 3.58 0.20 1.40 36.70 33.18
WEFC Wells Financial Corp. 3.41 7.56 4.19 3.37 0.47 1.94 50.46 43.50
WEHO Westwood Homestead Fin. Corp. 3.48 7.51 4.07 3.44 0.10 1.93 54.38 53.05
WES Westcorp 3.77 7.74 4.52 3.22 5.17 7.39 87.53 67.51
WFI Winton Financial Corp. 3.14 8.01 4.93 3.08 0.13 1.91 58.82 57.04
WFSG Wilshire Financial Services 2.03 9.13 7.22 1.90 0.98 3.57 142.50 164.41
WFSL Washington Federal Inc. 3.67 8.13 4.57 3.56 0.08 0.75 18.87 17.13
WHGB WHG Bancshares Corp. 3.93 7.25 3.48 3.77 0.12 2.32 59.46 58.16
WOFC Western Ohio Financial Corp. 3.05 7.45 4.57 2.88 0.12 2.24 74.67 73.66
WRNB Warren Bancorp Inc. 5.16 8.07 3.14 4.94 0.29 2.67 50.43 47.53
WSB Washington Savings Bank, FSB 2.70 8.06 5.47 2.59 0.21 1.60 64.23 61.33
WSFS WSFS Financial Corporation 3.44 8.12 4.74 3.38 0.69 2.35 54.65 45.43
WSTR WesterFed Financial Corp. 3.58 7.37 4.06 3.31 0.69 2.86 67.25 60.37
WVFC WVS Financial Corp. 3.66 7.61 4.00 3.61 0.12 1.73 46.43 44.67
WWFC Westwood Financial Corporation 2.98 7.01 4.10 2.91 0.16 1.61 49.45 46.67
WYNE Wayne Bancorp Inc. 3.58 7.26 3.78 3.49 0.23 2.31 62.11 59.63
YFCB Yonkers Financial Corporation 3.94 7.48 3.63 3.85 0.30 2.19 52.97 49.36
YFED York Financial Corp. 3.30 7.58 4.47 3.11 0.45 2.34 63.41 58.15
--------------------------------------------------------------------------------------------
Average 3.51 7.49 4.12 3.36 0.66 2.49 59.20 52.30
39
Income Statement as of The Most Recent Quarter
--------------------------------------------------------------------------------------------
Net Interest Interest Net Interest Noninterest Noninterest
Interest Income/ Expense/ Income/ Income/ Expense/ Efficiency Overhead
Margin Avg Assets Avg Assets Avg Assets Avg Assets Avg Assets Ratio Ratio
Ticker Short Name (%) (%) (%) (%) (%) (%) (%) (%)
- -------------------------------------- --------------------------------------------------------------------------------------------
Comparable Thrift Data
ALBC Albion Banc Corp. 3.53 7.53 4.14 3.39 0.46 3.20 83.05 80.77
ATSB AmTrust Capital Corp. 2.85 7.03 4.30 2.73 0.47 2.74 85.66 83.20
CLAS Classic Bancshares Inc. 3.86 7.23 3.60 3.63 0.33 2.81 68.49 65.63
FFDF FFD Financial Corp. 3.34 6.88 3.58 3.30 0.07 1.83 54.43 53.47
HFFB Harrodsburg First Fin Bancorp 3.65 7.13 3.54 3.59 0.10 1.53 41.46 39.84
HZFS Horizon Financial Svcs Corp. 3.19 7.64 4.52 3.12 0.42 2.31 65.47 60.78
LXMO Lexington B&L Financial Corp. 3.99 7.77 3.85 3.91 0.13 1.69 41.86 39.86
NBSI North Bancshares Inc. 3.30 7.33 4.09 3.24 0.21 2.66 77.13 75.67
PRBC Prestige Bancorp Inc. 3.25 7.01 3.85 3.16 0.29 2.27 65.78 62.62
SOBI Sobieski Bancorp Inc. 3.42 7.23 3.91 3.32 0.05 2.29 67.85 67.37
SZB SouthFirst Bancshares Inc. 3.85 7.52 3.94 3.58 1.51 4.13 81.08 73.11
--------------------------------------------------------------------------------------------
Average 3.48 7.30 3.94 3.36 0.37 2.50 66.57 63.85
Maximum 3.99 7.77 4.52 3.91 1.51 4.13 85.66 83.20
Minimum 2.85 6.88 3.54 2.73 0.05 1.53 41.46 39.84
40
Balance Sheet Growth as of
The Most Recent Quarter Market Data as of The Most Recent Quarter
-------------------------- ----------------------------------------------------------------
Asset Loan Deposit MRQ MRQ MRQ MRQ MRQ Publicly MRQ Tangible
Growth Growth Growth Market Price Price Price Reported Publicly Rep
Rate Rate Rate Value Per Share High Low Book Value Book Value
Ticker Short Name (%) (%) (%) ($) ($) ($) ($) ($) ($)
- -------------------------------------- -------------------------- ----------------------------------------------------------------
CAL California Federal Bank, a FSB 7.26 (9.37) (8.46) NA NA NA NA NA NA
CCMD Chevy Chase Bank, FSB 0.13 (14.05) 41.61 NA NA NA NA NA NA
AABC Access Anytime Bancorp, Inc. (6.91) 39.96 (11.31) 7.75 5.938 5.938 5.250 6.53 6.53
AADV Advantage Bancorp Inc. (0.76) 0.46 (9.54) 145.52 38.250 40.750 36.500 29.04 27.15
ABBK Abington Bancorp Inc. 7.48 0.52 6.48 60.73 25.500 25.750 20.500 18.73 16.87
ABCL Alliance Bancorp Inc. 27.76 (25.91) 6.53 180.39 30.125 30.656 27.750 23.40 23.11
ABCW Anchor BanCorp Wisconsin 8.68 7.90 4.23 248.84 24.375 25.000 21.000 26.49 25.99
AFBC Advance Financial Bancorp 13.45 6.24 16.77 17.08 14.000 14.500 12.750 14.75 14.75
AFCB Affiliated Community Bancorp 13.43 10.52 6.80 172.25 23.500 25.000 19.200 16.75 16.65
AFED AFSALA Bancorp Inc. 18.20 8.16 21.47 23.64 14.625 14.813 12.563 15.92 15.92
AFFFZ America First Financial Fund 1.39 13.76 (0.33) 241.93 39.125 39.563 29.500 28.97 28.61
AHCI Ambanc Holding Co. 5.74 31.38 18.84 65.24 16.250 16.625 12.688 14.29 14.29
AHM Ahmanson & Company (H.F.) (9.57) (2.46) (19.27) 5,323.10 43.188 47.125 35.250 20.35 17.34
ALBC Albion Banc Corp. 13.95 6.41 16.03 5.81 23.000 23.000 18.125 23.96 23.96
ALBK ALBANK Financial Corp. 12.12 7.45 (0.21) 510.15 39.500 41.000 34.000 25.85 22.59
AMFC AMB Financial Corp. 2.29 10.93 (12.37) 13.98 14.000 15.000 13.125 14.62 14.62
ANA Acadiana Bancshares Inc. 8.12 19.71 (4.51) 59.42 19.813 20.000 17.500 16.98 16.98
ANBK American National Bancorp 10.41 19.55 9.69 70.91 14.375 14.750 12.625 13.08 13.08
ANDB Andover Bancorp Inc. 13.67 7.09 27.31 159.60 30.375 31.125 26.250 19.58 19.58
ASBI Ameriana Bancorp (4.41) 7.79 5.76 70.26 16.500 17.000 15.250 13.49 13.48
ASBP ASB Financial Corp. 10.42 14.98 11.12 22.59 11.750 12.250 11.500 10.15 10.15
ASFC Astoria Financial Corp. (1.30) 44.32 4.54 1,024.54 47.500 47.500 34.750 28.59 24.01
ATSB AmTrust Capital Corp. (6.58) (2.97) 10.48 6.71 12.125 12.250 10.000 13.72 13.57
AVND Avondale Financial Corp. (17.73) (36.74) 23.78 51.11 14.500 17.500 12.750 15.85 15.85
BANC BankAtlantic Bancorp Inc. (6.15) 17.80 (12.30) 283.13 14.125 14.500 12.125 6.83 5.61
BDJI First Federal Bancorporation 10.67 11.47 3.33 14.59 20.250 20.250 17.750 17.61 17.61
BFD BostonFed Bancorp Inc. 14.84 9.50 27.11 107.35 17.688 17.750 14.375 15.37 14.86
BFFC Big Foot Financial Corp. 4.11 26.48 (2.43) 44.60 14.875 15.000 13.250 14.35 14.35
BFSB Bedford Bancshares Inc. 12.01 10.92 9.01 27.42 23.875 23.875 19.000 17.75 17.75
BKC American Bank of Connecticut 11.74 (0.10) 7.81 85.31 35.938 36.000 31.125 21.77 20.90
BKCT Bancorp Connecticut Inc. 14.15 13.85 10.98 82.35 25.500 26.250 22.000 17.33 17.33
BKUNA BankUnited Financial Corp. 97.45 92.92 35.37 109.76 9.875 10.375 8.500 7.59 6.15
BNKU Bank United Corp. 15.87 11.62 14.54 1,291.47 38.000 38.375 28.250 18.44 17.99
BPLS Bank Plus Corp. 29.06 22.56 29.35 220.85 10.875 11.500 9.625 9.27 9.25
BSBC Branford Savings Bank 20.58 (7.69) 14.44 33.21 4.688 4.750 3.625 2.64 2.64
BTHL Bethel Bancorp 3.68 (5.87) (7.28) 15.15 13.250 13.250 11.000 13.71 11.51
BVCC Bay View Capital Corp. 6.78 1.58 (18.75) 343.95 26.250 26.750 22.625 15.12 12.69
BWFC Bank West Financial Corp. 23.55 33.45 9.56 32.00 13.500 14.250 11.250 12.88 12.88
BYFC Broadway Financial Corp. 11.73 (4.55) 14.75 9.19 11.000 11.250 10.750 14.65 14.65
CAFI Camco Financial Corp. 14.73 18.67 8.22 57.05 17.738 17.857 16.667 14.58 13.45
CAPS Capital Savings Bancorp Inc. 7.74 5.90 4.25 29.80 17.375 18.250 12.750 11.28 11.28
CASB Cascade Financial Corp. 17.94 28.82 22.87 33.42 12.000 16.800 11.600 8.78 8.78
CASH First Midwest Financial Inc. 5.02 17.48 7.69 51.26 16.625 17.500 15.000 15.62 13.84
CATB Catskill Financial Corp. 15.04 1.78 4.26 79.60 15.500 16.000 13.938 15.08 15.08
CBCI Calumet Bancorp Inc. 1.62 (3.00) 5.23 89.71 38.000 39.500 34.250 36.47 36.47
CBES CBES Bancorp Inc. 15.48 12.47 38.31 18.19 16.813 17.500 14.000 17.08 17.08
CBK Citizens First Financial Corp. (0.06) 11.77 (3.49) 43.02 15.500 16.750 14.625 16.14 16.14
CBSA Coastal Bancorp Inc. 15.61 35.32 14.90 149.15 29.750 29.750 22.750 19.63 16.32
CBSB Charter Financial Inc. (1.57) 0.43 (0.83) 84.03 17.750 18.000 16.750 13.71 12.13
CCFH CCF Holding Company 63.77 63.22 32.40 13.94 16.500 16.750 15.750 14.36 14.36
CEBK Central Co-operative Bank 29.25 (0.46) 11.33 40.77 18.000 18.500 15.875 17.40 15.57
CENB Century Bancorp Inc. 7.47 10.97 7.69 32.38 69.500 71.000 62.000 73.45 73.45
CENF CENFED Financial Corp. 5.68 (2.19) (5.66) 205.87 34.500 34.500 26.375 20.85 20.81
CFB Commercial Federal Corp. 11.29 11.19 (3.64) 991.43 37.125 37.625 32.125 19.77 17.53
CFBC Community First Banking Co. 93.10 7.50 51.79 76.33 NA NA NA NA NA
CFCP Coastal Financial Corp. 14.98 7.71 (0.24) 112.54 23.000 23.000 16.125 6.69 6.69
CFFC Community Financial Corp. 18.38 15.50 2.24 27.74 22.750 23.250 21.500 18.86 18.86
CFNC Carolina Fincorp Inc. 10.43 22.25 11.82 32.63 15.375 15.375 14.125 13.74 13.74
CFSB CFSB Bancorp Inc. 5.36 9.1 0.51 135.06 23.25 24.75 19.318 12.65 12.65
CFTP Community Federal Bancorp 5.80 7.64 3.00 79.85 18.000 19.875 17.125 13.96 13.96
CFX CFX Corp. 26.27 44.04 11.39 272.73 21.000 21.000 15.500 10.52 9.84
CIBI Community Investors Bancorp (21.11) 12.51 4.98 14.41 12.750 13.500 11.500 11.96 11.96
CKFB CKF Bancorp Inc. 4.09 9.34 (5.97) 18.05 19.250 20.500 18.000 16.97 16.97
CLAS Classic Bancshares Inc. (3.13) 21.40 (5.61) 18.43 14.000 14.750 12.250 14.87 12.57
41
Balance Sheet Growth as of
The Most Recent Quarter Market Data as of The Most Recent Quarter
-------------------------- ----------------------------------------------------------------
Asset Loan Deposit MRQ MRQ MRQ MRQ MRQ Publicly MRQ Tangible
Growth Growth Growth Market Price Price Price Reported Publicly Rep
Rate Rate Rate Value Per Share High Low Book Value Book Value
Ticker Short Name (%) (%) (%) ($) ($) ($) ($) ($) ($)
- -------------------------------------- -------------------------- ----------------------------------------------------------------
CMRN Cameron Financial Corp 21.07 17.08 0.59 46.95 18.000 18.000 15.875 17.18 17.18
CMSB Commonwealth Bancorp Inc. 9.48 25.68 5.69 295.98 16.375 16.625 13.500 12.89 10.08
CMSV Community Savings FA (MHC) 10.24 13.48 1.88 166.70 22.000 22.375 19.625 15.95 15.95
CNIT CENIT Bancorp Inc. 1.56 35.33 18.26 81.41 48.750 48.750 40.000 31.12 28.58
CNSB CNS Bancorp Inc. 1.01 19.65 0.07 28.93 16.625 17.000 15.000 14.84 14.84
CNY Carver Bancorp Inc. (9.19) 73.95 4.61 27.63 11.750 12.250 9.125 14.93 14.32
COFI Charter One Financial 14.94 25.48 (3.16) 2,612.42 53.875 53.875 42.250 21.15 19.80
CONE Conestoga Bancorp, Inc. 4.86 (4.86) 5.85 NA 20.625 20.780 20.125 17.58 17.58
COOP Cooperative Bankshares Inc. 4.52 8.81 4.02 41.77 22.000 22.000 20.500 18.03 18.03
CRZY Crazy Woman Creek Bancorp 17.16 0.98 7.49 13.85 13.500 13.750 13.000 14.68 14.68
CSA Coast Savings Financial 13.90 2.17 (4.96) 923.81 45.438 46.000 38.500 24.06 23.75
CSBF CSB Financial Group Inc. 7.07 (4.82) 6.29 11.18 12.000 12.500 11.000 12.99 12.27
CTZN CitFed Bancorp Inc. 21.82 48.77 9.92 401.69 38.750 38.750 33.000 22.83 20.56
CVAL Chester Valley Bancorp Inc. 24.23 20.85 30.47 45.40 20.250 21.750 16.500 13.15 13.15
DCBI Delphos Citizens Bancorp Inc. 0.35 16.10 (0.39) 34.66 15.000 15.000 12.438 14.93 14.93
DIBK Dime Financial Corp. 29.20 (3.31) 39.99 152.00 25.500 26.000 18.000 13.52 13.08
DIME Dime Community Bancorp Inc. 25.14 39.70 0.47 252.86 20.000 20.000 16.625 14.58 12.56
DME Dime Bancorp Inc. 35.15 29.36 15.11 2,087.34 17.500 19.000 14.875 10.21 9.74
DNFC D & N Financial Corp. 21.03 33.47 5.08 172.03 19.250 19.250 17.250 10.84 10.72
DSL Downey Financial Corp. 29.26 38.03 12.16 614.87 23.625 23.625 18.095 15.26 15.05
EBSI Eagle Bancshares 11.95 15.22 15.34 94.80 17.875 17.922 15.250 12.45 12.45
EFBC Empire Federal Bancorp Inc. 2.33 7.50 (7.96) 40.83 14.375 14.625 12.500 15.65 15.65
EFBI Enterprise Federal Bancorp 11.78 32.92 8.00 39.02 19.125 19.125 15.250 15.79 15.78
EGFC Eagle Financial Corp. 132.62 129.04 111.26 226.54 30.375 30.750 26.750 22.02 17.19
EGLB Eagle BancGroup Inc. 8.86 24.56 (2.73) 20.58 15.500 15.875 14.750 16.69 16.69
EIRE Emerald Isle Bancorp Inc. 12.49 17.64 16.66 56.76 19.625 19.625 17.000 13.39 13.39
EMLD Emerald Financial Corp. 9.82 8.18 8.21 70.27 14.500 15.000 11.375 9.03 8.89
EQSB Equitable Federal Savings Bank 16.48 19.84 9.65 22.58 37.000 38.500 33.250 25.80 25.80
ESBK Elmira Savings Bank (The) 9.36 (6.59) 5.95 17.13 19.875 21.250 19.250 20.72 19.87
ESX Essex Bancorp Inc. 22.58 3.74 26.28 2.05 1.000 1.625 1.000 0.49 0.31
ETFS East Texas Financial Services 3.61 21.39 (2.18) 19.61 18.000 18.375 16.875 19.97 19.97
FAB FirstFed America Bancorp Inc. 16.80 27.61 1.23 176.32 17.750 18.250 13.625 15.35 15.35
FBBC First Bell Bancorp Inc. 3.02 12.24 10.48 103.77 16.750 16.750 14.500 10.78 10.78
FBCI Fidelity Bancorp Inc. 3.15 9.90 6.01 62.47 18.500 19.500 18.500 18.22 18.18
FBCV 1ST Bancorp (3.81) (12.70) (6.34) 24.43 30.063 33.250 30.000 32.00 31.35
FBER 1st Bergen Bancorp 51.48 (5.42) 10.61 55.51 15.250 15.750 12.875 13.47 13.47
FBHC Fort Bend Holding Corp. 31.98 54.59 29.35 28.85 29.250 30.500 23.750 23.23 21.64
FBNW FirstBank Corp. 47.92 43.49 17.03 34.47 NA NA NA NA NA
FBSI First Bancshares Inc. 9.81 14.08 12.06 26.57 20.000 20.500 19.000 20.27 20.24
FCB Falmouth Co-Operative Bank 15.82 34.54 18.19 25.09 16.500 16.500 13.250 15.40 15.40
FCBF FCB Financial Corp. 376.15 319.48 429.52 108.96 25.250 25.500 20.125 18.80 18.80
FCME First Coastal Corp. 3.29 9.99 2.85 14.61 9.750 10.000 8.875 10.35 10.35
FDEF First Defiance Financial 4.52 5.24 5.43 137.78 14.625 14.625 12.375 12.60 12.60
FED FirstFed Financial Corp. 6.15 5.24 -14.43 369.00 31.063 31.063 22.5 19.14 18.93
FESX First Essex Bancorp Inc. 34.38 4.12 13.16 135.07 17.500 17.500 14.500 11.57 10.05
FFBA First Colorado Bancorp Inc. 0.23 6.65 (3.08) 311.61 19.125 19.875 16.000 11.79 11.63
FFBH First Federal Bancshares of AR 11.88 11.04 11.81 103.74 20.125 20.625 17.500 16.36 16.36
FFBI First Financial Bancorp Inc. (37.03) (100.44) 4.34 7.89 18.125 18.750 15.500 17.62 17.62
FFBS FFBS BanCorp Inc. 6.48 13.97 4.17 35.82 24.500 24.500 21.500 16.97 16.97
FFBZ First Federal Bancorp Inc. 19.98 12.90 1.72 29.08 18.250 19.000 17.000 8.81 8.80
FFCH First Financial Holdings Inc. 16.27 8.76 2.31 218.51 32.000 32.000 23.750 16.03 16.03
FFDB FirstFed Bancorp Inc. (3.58) (7.44) (4.68) 20.43 17.750 18.500 14.375 14.48 13.20
FFDF FFD Financial Corp. (4.05) 13.06 1.61 21.46 14.000 14.000 13.000 14.51 14.51
FFED Fidelity Federal Bancorp (15.20) (2.83) (5.16) 23.32 9.000 10.000 8.750 5.17 5.17
FFES First Federal of East Hartford 3.65 17.96 3.73 91.74 29.250 30.375 23.000 23.63 23.63
FFFC FFVA Financial Corp. 6.63 3.72 2.84 135.62 27.250 27.250 20.500 17.41 17.04
FFFD North Central Bancshares Inc. 18.42 8.40 11.74 54.16 15.500 16.000 15.000 14.81 14.81
FFFG F.F.O. Financial Group Inc. 3.74 10.25 (6.05) 52.79 4.875 5.125 3.875 2.57 2.57
FFFL Fidelity Bankshares Inc. (MHC) 31.24 27.45 19.20 191.28 19.750 20.250 18.750 12.36 12.27
FFHC First Financial Corp. 8.47 7.28 2.19 1,185.86 29.375 29.375 24.500 11.67 11.37
FFHH FSF Financial Corp. 11.89 17.69 (5.90) 53.83 17.375 17.500 16.375 16.04 16.04
FFHS First Franklin Corporation 1.25 3.33 1.30 23.54 19.750 20.750 17.000 17.17 17.06
FFIC Flushing Financial Corp. 24.08 43.49 (0.40) 175.04 22.000 23.500 18.000 16.68 16.68
FFKY First Federal Financial Corp. 5.46 7.34 5.98 90.70 18.500 21.000 18.250 12.40 11.67
42
Balance Sheet Growth as of
The Most Recent Quarter Market Data as of The Most Recent Quarter
-------------------------- ----------------------------------------------------------------
Asset Loan Deposit MRQ MRQ MRQ MRQ MRQ Publicly MRQ Tangible
Growth Growth Growth Market Price Price Price Reported Publicly Rep
Rate Rate Rate Value Per Share High Low Book Value Book Value
Ticker Short Name (%) (%) (%) ($) ($) ($) ($) ($) ($)
- -------------------------------------- -------------------------- ----------------------------------------------------------------
FFLC FFLC Bancorp Inc. 31.86 46.54 14.33 73.58 27.250 28.500 25.000 22.52 22.52
FFOH Fidelity Financial of Ohio 9.09 19.03 9.99 89.27 14.875 15.000 12.375 12.17 10.74
FFPB First Palm Beach Bancorp Inc. 27.77 22.33 3.38 176.08 34.000 34.000 26.563 21.76 21.23
FFSL First Independence Corp. 6.03 12.51 0.72 13.64 11.500 12.250 10.875 11.60 11.60
FFSX First Fed SB of Siouxland(MHC) 4.96 6.63 (4.24) 79.19 23.750 24.000 20.750 13.74 13.62
FFWC FFW Corp. 54.57 15.75 72.93 20.98 27.000 27.000 25.500 24.11 21.73
FFWD Wood Bancorp Inc. 1.03 (0.19) 8.90 33.37 11.250 11.333 10.583 9.52 9.52
FFYF FFY Financial Corp. 0.39 5.05 2.18 111.11 26.000 26.375 25.500 19.83 19.83
FGHC First Georgia Holding Inc. 25.26 18.60 19.25 23.66 7.750 8.250 7.000 4.21 3.86
FIBC Financial Bancorp Inc. 19.74 16.48 6.21 39.61 18.250 18.250 14.875 15.35 15.27
FISB First Indiana Corporation 10.70 11.63 6.27 242.91 22.500 22.500 17.375 13.77 13.60
FKFS First Keystone Financial 7.83 12.41 9.55 34.99 23.375 23.375 21.250 19.09 19.09
FKKY Frankfort First Bancorp Inc. 12.85 9.43 (0.24) 36.08 8.469 12.250 8.000 6.94 6.94
FLAG FLAG Financial Corp. (0.26) 8.16 (4.65) 31.06 14.375 14.375 11.750 10.44 10.44
FLFC First Liberty Financial Corp. 13.10 6.61 32.78 171.88 21.500 22.500 21.000 12.30 11.09
FLGS Flagstar Bancorp Inc. 20.33 27.37 71.43 266.57 16.250 16.625 13.000 8.44 NA
FLKY First Lancaster Bancshares 38.96 29.59 4.07 15.04 15.500 16.000 14.500 14.44 14.44
FMBD First Mutual Bancorp Inc. (6.50) 6.11 (9.75) 54.35 15.000 15.750 13.750 16.73 12.67
FMCO FMS Financial Corporation 0.96 (2.82) 0.56 65.06 23.500 25.500 18.750 15.24 14.97
FMSB First Mutual Savings Bank 5.39 17.20 9.28 56.74 19.000 19.000 15.909 10.91 10.91
FNGB First Northern Capital Corp. 12.83 10.93 8.99 121.47 11.000 11.000 9.125 8.14 8.14
FOBC Fed One Bancorp 12.14 35.13 4.39 47.48 20.250 21.250 17.625 17.25 16.45
FPRY First Financial Bancorp 15.07 16.41 12.26 NA 20.75 21.125 20.25 17.07 17.07
FRC First Republic Bancorp 10.00 8.55 7.75 236.27 23.250 23.250 19.875 16.56 16.55
FSBI Fidelity Bancorp Inc. 43.19 50.26 6.78 34.10 20.250 21.500 18.409 15.83 15.83
FSFC First Southeast Financial Corp 10.72 10.10 6.73 68.02 10.125 11.500 9.375 7.80 7.80
FSLA First Savings Bank (MHC) 3.16 19.32 4.43 236.07 28.000 28.000 21.000 13.39 11.94
FSNJ Bayonne Bancshares Inc. 17.47 (4.47) (1.22) 112.42 9.206 9.206 7.927 NA NA
FSPG First Home Bancorp Inc. 11.14 10.48 18.70 54.51 19.375 19.375 18.000 12.85 12.64
FSPT FirstSpartan Financial Corp. NA NA NA 156.72 NA NA NA NA NA
FSSB First FS&LA of San Bernardino 12.49 (10.05) 13.89 3.16 9.750 10.500 9.000 13.68 13.18
FSTC First Citizens Corp. 15.31 16.76 15.97 58.85 26.375 27.000 23.250 17.99 13.99
FTF Texarkana First Financial Corp 7.77 13.50 4.02 44.09 19.500 19.500 15.625 15.03 15.03
FTFC First Federal Capital Corp. 10.91 18.07 9.95 217.51 24.500 24.500 16.833 11.08 10.42
FTNB Fulton Bancorp Inc. 0.01 (5.46) (3.72) 36.96 17.875 18.500 14.750 14.47 14.47
FTSB Fort Thomas Financial Corp. 9.54 12.22 10.88 16.66 11.125 11.500 9.250 10.40 10.40
FWWB First SB of Washington Bancorp 26.41 38.24 4.86 258.34 22.25 22.25 18.75 15.68 14.48
GAF GA Financial Inc. 47.38 83.50 2.97 146.72 19.000 19.500 14.875 14.25 14.10
GBCI Glacier Bancorp Inc. 11.03 17.08 8.37 121.76 18.750 20.250 15.333 8.12 7.91
GDVS Greater Delaware Valley (MHC) 9.55 29.31 (2.40) 79.36 14.500 14.500 12.250 8.64 8.64
GDW Golden West Financial 5.87 14.64 19.05 4,957.53 70.000 73.250 59.875 43.90 43.90
GFCO Glenway Financial Corp. 8.94 12.42 (1.17) 31.63 26.500 26.500 20.500 23.89 23.57
GFED Guaranty Federal SB (MHC) 7.18 19.64 14.19 62.89 16.750 20.500 12.375 8.80 8.80
GFSB GFS Bancorp Inc. 17.74 12.57 8.39 14.08 13.875 14.250 11.500 10.66 10.66
GOSB GSB Financial Corp. 246.95 NA 67.93 32.60 NA NA NA NA NA
GPT GreenPoint Financial Corp. 1.17 22.89 (1.91) 2,734.13 66.563 66.563 51.750 34.27 19.27
GRTR Greater New York Savings Bank 1.33 6.91 (5.84) 317.21 22.438 22.438 16.750 11.74 11.74
GSB Golden State Bancorp Inc. 21.43 21.55 7.45 1,545.10 26.125 26.750 22.500 15.63 13.89
GSBC Great Southern Bancorp Inc. 16.90 3.16 (3.16) 142.85 16.125 17.750 16.125 7.45 7.45
GSFC Green Street Financial Corp. 0.55 8.75 (2.54) 80.05 17.625 18.000 17.000 14.73 14.73
GSLA GS Financial Corp. (35.74) 9.87 (188.91) 55.02 15.375 15.625 13.375 16.36 16.36
GTFN Great Financial Corporation 5.87 12.32 12.65 491.78 35.125 35.125 29.375 20.40 19.54
GTPS Great American Bancorp (2.67) 14.80 (3.71) 31.24 16.500 17.000 15.500 18.36 18.36
GUPB GFSB Bancorp Inc. 25.12 21.6 10.63 15.08 17.5 17.5 15.75 16.88 16.88
GWBC Gateway Bancorp Inc. (11.96) 19.83 (16.87) 19.30 17.500 17.750 14.500 16.05 16.05
HALL Hallmark Capital Corp. 0.52 1.78 18.15 31.74 21.375 22.500 17.500 20.56 20.56
HARB Harbor Florida Bancorp (MHC) 4.27 7.64 2.36 289.36 45.750 45.750 35.000 18.85 18.23
HARL Harleysville Savings Bank 4.94 8.89 7.37 42.55 22.750 22.750 20.250 13.31 13.31
HARS Harris Savings Bank (MHC) 20.78 14.06 (4.39) 498.01 21.25 21.297 18.125 14.59 12.76
HAVN Haven Bancorp Inc. 12.44 23.02 25.01 171.50 37.500 37.500 30.500 24.20 24.11
HBBI Home Building Bancorp (14.87) 0.54 (20.46) 6.39 21.000 22.000 20.500 20.16 20.16
HBEI Home Bancorp of Elgin Inc. (6.82) 27.58 (6.25) 123.40 16.500 16.500 14.125 13.73 13.73
HBFW Home Bancorp 8.63 17.84 12.85 56.81 20.875 20.875 20.125 17.62 17.62
HBNK Highland Federal Bank FSB 20.15 10.30 21.29 69.58 25.750 25.750 20.500 16.39 16.39
43
Balance Sheet Growth as of
The Most Recent Quarter Market Data as of The Most Recent Quarter
-------------------------- ----------------------------------------------------------------
Asset Loan Deposit MRQ MRQ MRQ MRQ MRQ Publicly MRQ Tangible
Growth Growth Growth Market Price Price Price Reported Publicly Rep
Rate Rate Rate Value Per Share High Low Book Value Book Value
Ticker Short Name (%) (%) (%) ($) ($) ($) ($) ($) ($)
- -------------------------------------- -------------------------- ----------------------------------------------------------------
HBS Haywood Bancshares Inc. 11.17 4.49 12.58 23.76 17.125 17.125 15.625 16.76 16.16
HCBB HCB Bancshares Inc. NA NA NA 36.37 NA NA NA NA NA
HCFC Home City Financial Corp. 0.56 23.09 1.90 14.76 13.500 14.250 12.000 16.05 16.05
HEMT HF Bancorp Inc. 0.12 NA (0.39) 95.01 14.375 14.750 12.250 12.90 NA
HFFB Harrodsburg First Fin Bancorp 2.82 2.03 0.46 30.88 14.875 16.000 14.875 15.68 15.68
HFFC HF Financial Corp. 0.27 13.56 (0.04) 72.25 21.000 21.000 18.750 17.78 17.78
HFGI Harrington Financial Group (53.22) 37.83 15.95 40.71 12.125 12.375 10.500 7.67 7.67
HFNC HFNC Financial Corp. 24.90 25.67 (3.59) 281.53 16.500 19.875 15.875 9.37 9.37
HFSA Hardin Bancorp Inc. 18.05 8.65 22.59 14.50 15.750 15.750 13.500 15.68 15.68
HHFC Harvest Home Financial Corp. 21.63 10.5 -3.41 10.98 10.875 11.5 10.25 11.31 11.31
HIFS Hingham Instit. for Savings 23.18 20.19 9.31 32.26 21.750 21.750 18.000 15.62 15.62
HMCI HomeCorp Inc. (5.75) 7.91 (7.62) 28.36 14.500 15.000 13.500 12.81 12.81
HMLK Hemlock Federal Financial Corp 1.02 20.46 (3.79) 31.79 13.500 13.875 12.500 14.57 14.57
HMNF HMN Financial Inc. 10.01 5.35 1.39 103.72 23.000 23.750 19.000 19.42 19.42
HOMF Home Federal Bancorp 11.53 11.95 9.79 105.29 28.500 28.750 25.000 17.05 16.52
HPBC Home Port Bancorp Inc. 20.18 16.42 12.34 42.13 19.500 20.375 16.500 11.39 11.39
HRBF Harbor Federal Bancorp Inc. (5.64) 7.92 (2.07) 33.45 19.000 19.000 15.500 16.48 16.48
HRZB Horizon Financial Corp. 2.58 5.85 3.45 114.96 16.250 16.500 11.957 10.91 10.91
HTHR Hawthorne Financial Corp. 11.99 15.70 26.14 52.72 12.250 12.250 9.250 13.07 13.07
HVFD Haverfield Corp. 5.26 2.94 (3.19) 53.58 25.875 26.000 21.500 15.51 15.51
HWEN Home Financial Bancorp 31.08 18.98 36.31 7.72 15.75 15.75 14.75 15.33 15.33
HZFS Horizon Financial Svcs Corp. 38.80 1.90 8.56 8.03 19.250 19.500 17.000 19.77 19.77
IBSF IBS Financial Corp. (3.61) 8.22 (4.05) 190.00 18.125 18.125 14.250 11.59 11.59
IFSB Independence Federal Svgs Bank (6.54) 6.71 (2.31) 17.94 9.031 9.250 7.500 13.89 12.28
INBI Industrial Bancorp 15.28 12.83 5.81 80.47 13.688 14.000 12.000 11.63 11.63
INCB Indiana Community Bank SB 9.48 (5.47) 11.40 14.52 16.500 19.000 15.750 12.27 12.27
IPSW Ipswich Savings Bank 57.69 44.36 43.94 31.48 16.500 16.500 13.750 9.11 9.11
ISBF ISB Financial Corporation 3.47 16.49 3.72 175.97 26.000 26.000 21.188 17.61 14.98
ITLA ITLA Capital Corp. 19.60 24.06 11.61 143.18 16.250 16.250 14.000 11.92 11.87
IWBK InterWest Bancorp Inc. 13.79 24.23 (0.72) 317.42 39.500 39.500 27.625 15.46 15.13
JOAC Joachim Bancorp Inc. (8.05) 7.85 (3.53) 10.57 15.250 15.250 14.000 13.62 13.62
JSB JSB Financial Inc. 0.06 10.39 (2.93) 467.17 43.250 46.500 40.000 35.54 35.54
JSBA Jefferson Savings Bancorp (1.51) 0.49 (0.69) 177.06 30.250 30.625 27.750 23.96 18.59
JXSB Jacksonville Savings Bk (MHC) (2.65) 4.01 (3.57) 28.63 17.000 17.625 16.000 13.42 13.42
JXVL Jacksonville Bancorp Inc. 14.35 NA 15.21 41.61 15.063 15.125 13.250 13.55 13.55
KFBI Klamath First Bancorp 25.78 18.17 1.32 199.12 19.125 19.125 16.500 15.57 15.57
KNK Kankakee Bancorp Inc. (0.82) 5.30 (0.49) 42.93 29.375 30.000 26.625 26.59 24.99
KSAV KS Bancorp Inc. 21.31 23.98 8.91 16.38 19.125 19.125 15.375 16.21 16.20
KSBK KSB Bancorp Inc. 16.84 27.85 (1.43) 15.48 14.667 14.667 9.000 8.46 8.00
KYF Kentucky First Bancorp Inc. 0.16 0.61 6.43 16.82 10.750 11.500 10.563 11.16 11.16
LARK Landmark Bancshares Inc. 7.69 22.51 (16.02) 46.62 20.000 20.125 18.750 18.39 18.39
LARL Laurel Capital Group Inc. 6.54 1.92 9.89 33.91 21.125 22.500 20.125 14.74 14.74
LFBI Little Falls Bancorp Inc. (4.48) 19.59 (4.22) 44.01 15.625 15.625 12.750 14.51 13.40
LFCO Life Financial Corp. 95.32 320.23 17.46 110.01 13.500 13.500 13.375 6.83 6.83
LFED Leeds Federal Savings Bk (MHC) 5.16 25.81 2.84 104.51 18.000 19.000 15.500 13.21 13.21
LIFB Life Bancorp Inc. 22.84 6.04 (0.15) 241.87 25.875 26.125 16.875 15.94 15.48
LISB Long Island Bancorp Inc. 6.50 6.21 4.26 1,060.60 36.313 36.688 33.000 22.17 21.95
LOGN Logansport Financial Corp. 19.44 18.11 6.81 19.22 13.250 14.000 12.500 12.66 12.66
LONF London Financial Corporation 3.19 7.03 3.79 7.65 14.750 17.500 14.625 14.60 14.60
LSBI LSB Financial Corp. 12.96 22.09 13.80 20.39 20.250 20.875 19.048 19.80 19.80
LSBX Lawrence Savings Bank 28.40 9.63 (4.97) 51.14 11.250 11.250 9.125 7.45 7.45
LVSB Lakeview Financial 8.35 21.39 13.52 79.93 27.625 33.500 27.625 19.91 15.92
LXMO Lexington B&L Financial Corp. (3.43) 5.15 (2.59) 18.22 16.625 16.625 14.125 14.73 14.73
MAFB MAF Bancorp Inc. 10.51 10.62 1.85 488.94 27.917 28.417 24.833 16.79 14.67
MARN Marion Capital Holdings (2.55) 1.72 2.08 41.55 23.250 23.250 21.250 22.09 22.09
MASB MASSBANK Corp. 1.91 6.67 1.78 141.00 47.750 47.750 39.875 35.92 35.92
MBB MSB Bancorp Inc. 1.59 14.80 (4.83) 67.37 20.125 20.125 16.375 21.15 10.38
MBBC Monterey Bay Bancorp Inc. (9.06) 32.79 1.56 53.91 16.875 17.000 15.500 15.46 14.25
MBLF MBLA Financial Corp. 47.75 35.74 14.26 30.19 23.500 24.750 20.250 21.98 21.98
MBSP Mitchell Bancorp Inc. (10.10) 11.81 (11.09) 15.94 16.375 16.750 15.250 15.39 15.39
MCBN Mid-Coast Bancorp Inc. 5.53 4.76 1.99 5.81 19.500 19.500 18.500 22.10 22.10
MCBS Mid Continent Bancshares Inc. 40.33 52.18 23.34 73.92 28.500 28.500 25.250 19.93 19.93
MDBK Medford Savings Bank 7.01 1.20 12.92 146.45 29.250 30.500 24.750 21.24 19.79
MECH Mechanics Savings Bank 17.79 18.96 12.93 127.62 18.875 19.000 17.000 15.93 15.93
44
Balance Sheet Growth as of
The Most Recent Quarter Market Data as of The Most Recent Quarter
-------------------------- ----------------------------------------------------------------
Asset Loan Deposit MRQ MRQ MRQ MRQ MRQ Publicly MRQ Tangible
Growth Growth Growth Market Price Price Price Reported Publicly Rep
Rate Rate Rate Value Per Share High Low Book Value Book Value
Ticker Short Name (%) (%) (%) ($) ($) ($) ($) ($) ($)
- -------------------------------------- -------------------------- ----------------------------------------------------------------
MERI Meritrust Federal SB (0.19) 5.53 (1.73) 33.97 40.000 41.500 34.000 24.21 24.21
METF Metropolitan Financial Corp. 7.05 9.38 3.41 63.90 15.500 16.250 10.750 9.22 8.34
MFBC MFB Corp. 23.82 28.26 10.27 38.87 19.000 19.750 18.750 20.05 20.05
MFCX Marshalltown Financial Corp. 1.32 5.95 1.51 23.64 15.500 16.625 15.000 14.22 14.22
MFFC Milton Federal Financial Corp. 47.28 21.70 8.37 32.56 13.750 14.250 13.250 12.26 12.26
MFLR Mayflower Co-operative Bank 3.15 (3.26) (1.61) 17.59 19.500 19.500 15.750 13.67 13.44
MFSL Maryland Federal Bancorp 10.27 6.13 9.34 146.06 37.750 38.250 34.375 30.22 29.84
MGNL Magna Bancorp Inc. (8.64) 11.70 1.64 371.37 27.375 27.375 16.750 10.06 9.79
MIFC Mid-Iowa Financial Corp. 6.37 5.71 (20.09) 16.14 9.000 9.000 7.313 7.00 6.99
MIVI Mississippi View Holding Co. 0.11 2.93 (4.23) 13.00 14.625 15.625 14.000 16.09 16.09
MLBC ML Bancorp Inc. 22.74 25.94 13.85 217.93 19.375 20.250 15.000 13.68 13.44
MONT Montgomery Financial Corp. (4.21) (0.09) 1.79 19.84 13.000 13.000 11.000 NA NA
MRKF Market Financial Corp. 1.67 7.09 (2.17) 18.95 13.750 13.750 12.250 14.83 14.83
MSBF MSB Financial Inc. (4.93) 20.07 3.19 16.86 11.625 11.625 10.375 10.17 10.17
MSBK Mutual Savings Bank FSB 6.56 35.02 (2.77) 55.56 10.125 10.125 6.500 9.57 9.57
MWBI Midwest Bancshares Inc. 21.69 22.23 8.97 12.25 32.000 32.000 28.000 29.06 29.06
MWBX MetroWest Bank 8.36 12.49 9.76 93.32 5.750 5.750 4.625 3.02 3.02
MWFD Midwest Federal Financial 11.90 11.95 7.45 34.59 19.750 20.750 17.625 11.21 10.81
NASB North American Savings Bank 27.47 19.39 10.55 116.29 47.750 47.750 38.000 25.37 24.52
NBN Northeast Bancorp 15.21 19.97 32.77 21.89 13.750 14.250 13.250 13.49 11.66
NBSI North Bancshares Inc. (1.42) 18.04 (2.72) 22.11 19.750 20.125 19.125 16.96 16.96
NEIB Northeast Indiana Bancorp 7.95 11.72 (17.19) 29.97 14.750 16.000 13.250 15.19 15.19
NHTB New Hampshire Thrift Bncshrs 2.86 4.58 (0.83) 40.51 15.250 15.500 11.750 11.78 10.03
NASB NewMil Bancorp Inc. 7.63 6.23 9.63 49.84 11.500 11.500 8.875 8.27 8.27
NSLB NS&L Bancorp Inc. 11.17 15.69 12.96 13.27 17.250 17.250 16.250 16.51 16.51
NSSB Norwich Financial Corp. 6.54 1.20 1.40 150.89 21.625 22.625 18.500 14.70 13.27
NSSY Norwalk Savings Society 30.00 17.10 10.97 87.97 30.250 31.000 23.000 21.54 20.84
NTMG Nutmeg Federal S&LA 37.56 19.71 42.17 8.12 8.750 8.750 7.000 7.72 7.72
NWEQ Northwest Equity Corp. 7.55 2.11 10.76 13.52 15.000 15.000 13.750 14.23 14.23
NWSB Northwest Savings Bank (MHC) 18.78 13.15 4.43 596.09 15.500 15.625 14.250 8.49 7.99
NYB New York Bancorp Inc. 13.69 13.52 (4.27) 672.03 26.063 26.156 20.813 7.73 7.73
OCFC Ocean Financial Corp. 17.38 15.42 6.41 280.02 35.250 35.250 27.625 27.35 27.35
OCN Ocwen Financial Corp. 20.74 9.68 17.42 1,169.13 32.625 32.625 26.000 9.10 8.69
OFCP Ottawa Financial Corp. 1.12 5.14 0.16 126.51 22.375 22.75 20.5 15.31 12.29
OHSL OHSL Financial Corp. 0.39 6.88 1.91 28.85 25.250 25.250 22.625 21.21 21.21
PALM Palfed Inc. 5.59 6.78 7.83 94.45 16.750 17.500 15.250 10.37 10.37
PAMM PacificAmerica Money Center 84.64 179.12 73.21 86.44 16.000 16.000 12.000 15.45 15.45
PBCI Pamrapo Bancorp Inc. 3.95 (1.82) 1.96 61.12 21.000 21.000 18.500 16.62 16.49
PBCT People's Bank (MHC) 17.61 20.50 13.00 1,793.44 25.875 26.875 19.000 10.93 10.92
PBHC Oswego City Savings Bk (MHC) 1.10 6.51 0.08 37.37 13.000 14.000 10.875 11.68 9.72
PBKB People's Bancshares Inc. 26.90 17.58 8.82 54.40 15.250 15.250 11.625 9.31 8.96
PCBC Perry County Financial Corp. 6.98 29.54 (9.68) 17.59 20.000 20.000 18.750 18.81 18.81
PCCI Pacific Crest Capital 33.12 20.80 26.80 44.81 13.250 13.375 12.250 8.95 8.95
PDB Piedmont Bancorp Inc. 14.32 16.98 14.36 29.23 10.250 11.000 10.125 7.42 7.42
PEEK Peekskill Financial Corp. (0.07) 13.15 (0.90) 52.29 15.000 15.250 13.375 14.71 14.71
PERM Permanent Bancorp Inc. 9.01 7.97 4.25 49.89 24.250 25.500 20.750 19.74 19.45
PERT Perpetual Bank (MHC) 17.16 23.38 17.24 79.74 29.500 29.750 24.125 20.14 20.14
PETE Primary Bank (3.70) 9.14 4.37 56.13 25.250 25.250 16.750 14.33 14.31
PFDC Peoples Bancorp 6.10 9.75 5.30 57.99 23.000 23.000 21.750 19.23 19.23
PFED Park Bancorp Inc. (5.42) 13.88 1.51 41.33 16.250 16.625 14.250 16.27 16.27
PFFB PFF Bancorp Inc. 15.09 10.01 2.97 353.59 18.750 18.750 13.625 14.51 14.36
PFFC Peoples Financial Corp. (14.28) 33.49 (17.68) 24.73 15.625 15.625 15.000 15.78 15.78
PFNC Progress Financial Corp. 18.28 29.14 (10.37) 57.57 10.500 10.500 8.063 5.83 5.15
PFSB PennFed Financial Services Inc 22.15 21.80 13.86 144.66 27.250 27.500 22.250 21.83 18.26
PFSL Pocahontas FS&LA (MHC) 5.83 20.02 53.05 46.52 20.750 20.750 17.750 14.76 14.76
PHBK Peoples Heritage Finl Group 9.76 12.80 6.55 1,084.56 37.875 37.875 27.500 15.77 13.29
PHFC Pittsburgh Home Financial Corp 32.52 30.99 3.11 37.30 15.250 15.250 14.000 14.21 14.05
PHSB Peoples Home Savings Bk (MHC) NA NA NA 39.30 NA NA NA NA NA
PKPS Poughkeepsie Financial Corp. 8.85 0.57 11.49 99.18 7.313 7.313 5.438 5.85 5.85
PLSK Pulaski Savings Bank (MHC) (31.49) 7.56 2.32 35.97 13.875 13.875 11.500 10.20 10.20
PMFI Perpetual Midwest Financial (0.55) 19.50 18.59 39.30 19.125 20.500 19.000 18.00 18.00
PRBC Prestige Bancorp Inc. 28.03 40.04 7.42 15.55 15.625 16.125 15.500 16.51 16.51
PROV Provident Financial Holdings 4.47 22.74 5.00 98.10 16.625 17.250 14.125 17.37 17.37
PSBK Progressive Bank Inc. 0.53 1.26 1.51 125.14 31.500 31.500 23.375 19.67 17.57
45
Balance Sheet Growth as of
The Most Recent Quarter Market Data as of The Most Recent Quarter
-------------------------- ----------------------------------------------------------------
Asset Loan Deposit MRQ MRQ MRQ MRQ MRQ Publicly MRQ Tangible
Growth Growth Growth Market Price Price Price Reported Publicly Rep
Rate Rate Rate Value Per Share High Low Book Value Book Value
Ticker Short Name (%) (%) (%) ($) ($) ($) ($) ($) ($)
- -------------------------------------- -------------------------- ----------------------------------------------------------------
PSFC Peoples-Sidney Financial Corp. 6.23 4.89 0.75 29.01 NA NA NA NA NA
PSFI PS Financial Inc. 40.17 9.02 1.51 33.82 14.500 14.875 12.875 14.66 14.66
PTRS Potters Financial Corp. 14.60 35.62 5.91 12.16 22.000 22.000 19.000 21.97 21.97
PULB Pulaski Bank, Svgs Bank (MHC) 5.41 13 1.08 55.23 18.375 19.625 17.375 11.23 11.23
PULS Pulse Bancorp 3.31 (20.62) 3.22 66.23 20.250 20.250 17.875 13.63 13.63
PVFC PVF Capital Corp. 9.98 11.72 (6.62) 52.39 15.227 16.364 13.636 9.79 9.79
PVSA Parkvale Financial Corporation 7.67 23.74 6.42 122.67 27.625 28.750 26.000 18.54 18.40
PWBC PennFirst Bancorp Inc. 62.71 191.09 64.83 82.90 14.432 14.432 12.273 12.44 11.63
PWBK Pennwood Bancorp Inc. 17.13 87.45 (6.53) 9.71 15.250 15.250 13.750 15.05 15.05
QCBC Quaker City Bancorp Inc. 10.53 4.53 5.35 97.59 17.563 17.563 14.400 14.94 14.93
QCFB QCF Bancorp Inc. 7.39 5.36 8.18 35.66 19.125 19.750 17.500 18.98 18.98
QCSB Queens County Bancorp Inc. 27.27 33.51 3.33 549.64 45.5 48 35.667 19.83 19.83
RARB Raritan Bancorp Inc. 4.57 11.49 4.06 57.88 19.667 20.500 16.333 12.48 12.28
RCSB RCSB Financial Inc. 7.14 34.51 (4.30) 756.70 40.938 41.125 29.500 21.42 20.90
REDF RedFed Bancorp Inc. 1.57 6.52 2.92 124.65 16.375 16.500 12.375 10.75 10.71
RELI Reliance Bancshares Inc. 1.48 8.90 (9.95) 21.49 8.375 8.375 7.125 9.08 9.08
RELY Reliance Bancorp Inc. 10.37 22.03 8.95 280.84 29.438 29.438 22.000 18.54 13.36
RIVR River Valley Bancorp 6.12 15.39 (8.90) 19.64 14.750 15.000 13.625 14.62 14.40
ROSE TR Financial Corp. 17.33 23.78 (1.04) 475.30 25.188 25.938 16.688 13.45 13.45
RSLN Roslyn Bancorp Inc. 43.50 21.00 11.00 992.87 22.875 22.875 15.875 14.58 14.51
RVSB Riverview Savings Bank (MHC) 9.39 6.78 (1.87) 67.11 21.000 24.000 18.000 10.67 9.74
SBFL SB of the Finger Lakes (MHC) 7.29 28.39 40.07 44.63 17.250 17.250 14.750 11.63 11.63
SBOS Boston Bancorp (The) (36.27) (23.33) 3.59 NA 41.750 42.250 36.250 40.29 40.29
SCBS Southern Community Bancshares 1.51 17.18 4.60 18.06 14.625 14.625 13.500 13.19 13.19
SCCB S. Carolina Community Bancshrs 4.29 3.05 6.45 16.55 19.000 20.500 15.000 17.11 17.11
SECP Security Capital Corp. 2.90 3.23 6.64 973.78 94.500 96.750 83.750 60.81 60.81
SFED SFS Bancorp Inc. 9.50 19.07 10.05 24.31 16.750 17.375 16.000 17.44 17.44
SFFC StateFed Financial Corporation 1.86 NA (2.49) 17.24 19.000 19.125 18.000 19.44 19.44
SFIN Statewide Financial Corp. (2.46) 0.42 (8.90) 92.74 18.000 18.125 14.750 13.90 13.87
SFNB Security First Network Bank (4.66) 194.17 56.30 103.44 6.875 9.375 5.500 3.02 2.97
SFSB SuburbFed Financial Corp. 18.54 32.89 (9.84) 34.71 26.500 26.500 22.250 21.92 21.84
SFSL Security First Corp. 11.64 11.06 17.79 134.58 15.000 15.000 12.000 8.12 7.99
SGVB SGV Bancorp Inc. 9.57 (4.62) 9.05 35.72 13.969 14.250 11.375 12.77 12.56
SHEN First Shenango Bancorp Inc. 10.48 7.31 (1.56) 57.76 26.250 26.750 21.750 21.75 21.75
SISB SIS Bancorp Inc. 8.78 18.67 3.39 172.88 29.250 29.625 23.375 18.31 18.31
SKAN Skaneateles Bancorp Inc. 10.39 7.16 9.26 22.19 20.750 20.750 18.375 17.79 17.24
SKBO First Carnegie Deposit (MHC) (37.91) 2.27 (45.05) 36.80 14.500 14.750 11.625 10.52 10.52
SMBC Southern Missouri Bancorp Inc. 15.12 12.75 18.77 28.05 16.250 17.250 14.250 15.85 15.85
SMFC Sho-Me Financial Corp. 31.93 33.48 17.51 58.45 38.000 40.250 28.750 21.62 21.62
SOBI Sobieski Bancorp Inc. 13.53 23.75 2.65 12.59 14.750 15.250 14.500 17.24 17.24
SOPN First Savings Bancorp Inc. 34.07 10.93 3.92 74.50 22.250 24.000 19.375 18.26 18.26
SOSA Somerset Savings Bank (5.86) (0.69) 4.74 65.04 2.750 2.750 2.250 1.96 1.96
SPBC St. Paul Bancorp Inc 11.28 25.35 (11.78) 819.96 22.083 22.833 17.583 11.67 11.64
SRN Southern Banc Company Inc. (1.01) NA (2.00) 19.99 14.375 14.625 13.125 14.42 14.27
SSB Scotland Bancorp Inc 3.22 5.11 (0.43) 36.84 16.125 16.375 14.875 13.45 13.45
SSFC South Street Financial Corp. 4.95 (0.72) 3.47 83.19 16.500 16.750 15.125 14.69 14.69
SSM Stone Street Bancorp Inc. 2.37 4.18 3.00 40.69 21.813 27.250 20.938 16.13 16.13
STFR St. Francis Capital Corp. 16.86 12.05 14.11 197.54 38.750 38.750 29.000 24.18 21.37
STND Standard Financial Inc. 13.79 15.67 12.84 415.31 24.5 25 22.625 17.11 17.08
STSA Sterling Financial Corp. 33.18 5.92 12.10 112.72 18.625 19.000 15.250 12.17 10.61
SVRN Sovereign Bancorp Inc. 23.89 15.76 8.38 1,388.65 15.250 15.250 11.375 6.85 5.16
SWBI Southwest Bancshares 7.28 8.40 0.36 53.67 20.750 21.000 18.750 15.68 15.68
SWCB Sandwich Co-operative Bank 22.43 18.37 17.61 68.95 30.500 32.000 27.250 20.83 19.94
SZB SouthFirst Bancshares Inc. 18.83 27.83 (7.99) 13.56 16.000 16.000 13.875 16.06 16.06
TBK Tolland Bank 1.54 2.61 9.30 27.89 14.813 15.000 10.406 10.60 10.30
THR Three Rivers Financial Corp. 8.49 7.37 (2.48) 13.28 14.375 15.250 13.750 15.23 15.17
THRD TF Financial Corporation (2.25) (2.53) (0.05) 83.70 19.625 19.625 16.625 18.86 16.54
TPNZ Tappan Zee Financial Inc. 7.58 7.34 10.33 26.01 17.500 17.500 14.000 14.11 14.11
TRIC Tri-County Bancorp Inc. 16.20 16.29 (16.91) 14.31 21.250 21.250 18.500 22.51 22.51
TSBS Peoples Bancorp Inc. (MHC) 2.97 3.26 2.49 271.11 19.125 20.375 18.000 11.79 10.82
TSH Teche Holding Co. 12.90 10.35 8.74 63.16 19.000 19.375 15.500 15.53 15.53
TWIN Twin City Bancorp 10.94 (1.63) 22.95 17.28 19.375 19.750 18.000 16.17 16.17
UBMT United Financial Corp. (7.88) (14.32) (15.43) 29.36 22.250 22.250 19.000 20.10 20.10
UFRM United Federal Savings Bank 7.92 39.04 5.87 35.35 11.750 12.000 9.500 6.70 6.70
46
Balance Sheet Growth as of
The Most Recent Quarter Market Data as of The Most Recent Quarter
-------------------------- ----------------------------------------------------------------
Asset Loan Deposit MRQ MRQ MRQ MRQ MRQ Publicly MRQ Tangible
Growth Growth Growth Market Price Price Price Reported Publicly Rep
Rate Rate Rate Value Per Share High Low Book Value Book Value
Ticker Short Name (%) (%) (%) ($) ($) ($) ($) ($) ($)
- -------------------------------------- -------------------------- ----------------------------------------------------------------
USAB USABancshares, Inc. 91.62 62.27 98.30 6.06 7.406 8.063 6.563 6.44 6.32
VABF Virginia Beach Fed. Financial 6.88 11.60 (23.99) 69.67 13.375 13.500 9.750 8.50 8.50
VFFC Virginia First Financial Corp. 4.34 6.36 10.44 139.02 14.750 16.250 12.375 11.35 10.96
WAMU Washington Mutual Inc. 23.56 1.26 (5.19) 16,113.22 59.750 62.688 45.375 20.60 19.55
WAYN Wayne Savings & Loan Co. (MHC) 3.26 (1.50) 2.58 50.58 17.000 18.500 17.000 10.45 10.45
WBST Webster Financial Corp. 25.80 4.83 (4.69) 759.43 45.500 45.500 35.250 24.91 21.28
WCBI Westco Bancorp 2.18 10.98 2.88 65.62 26.375 26.375 22.000 19.18 19.18
WCFB Webster City Federal SB (MHC) 6.61 8.04 9.78 37.28 15.500 15.500 13.750 10.54 10.54
WEFC Wells Financial Corp. 0.30 6.90 (3.41) 32.33 15.000 15.500 14.000 14.63 14.63
WEHO Westwood Homestead Fin. Corp. 14.46 32.24 17.47 43.33 14.500 14.500 12.500 14.17 14.17
WES Westcorp 32.00 11.06 18.45 571.39 18.375 19.000 13.250 12.71 12.68
WFI Winton Financial Corp. 13.31 12.98 7.75 32.27 13.125 14.500 12.000 11.36 11.12
WFSG Wilshire Financial Services 36.91 19.19 (15.25) 164.65 16.25 16.25 13.5 9.11 9.11
WFSL Washington Federal Inc. (1.98) 2.68 5.26 1,317.25 25.688 27.688 22.500 14.66 13.39
WHGB WHG Bancshares Corp. 7.22 4.57 12.00 23.03 15.250 15.250 13.750 14.16 14.16
WOFC Western Ohio Financial Corp. (3.57) 11.67 2.77 56.72 21.250 22.250 21.000 23.38 21.80
WRNB Warren Bancorp Inc. (3.60) 5.22 (4.97) 69.13 18.000 19.000 15.000 9.82 9.82
WSB Washington Savings Bank, FSB 2.65 3.38 1.95 30.79 4.938 5.625 4.875 5.05 5.05
WSFS WSFS Financial Corporation 8.23 26.51 (1.26) 190.21 13.750 13.875 10.625 6.32 6.27
WSTR WesterFed Financial Corp. 9.95 22.07 (2.23) 125.21 20.500 20.625 17.625 18.74 14.99
WVFC WVS Financial Corp. 21.15 18.25 6.71 48.71 25.875 27.250 23.500 18.82 18.82
WWFC Westwood Financial Corporation 12.64 8.18 13.64 13.71 20.750 21.500 17.000 15.76 14.04
WYNE Wayne Bancorp Inc. 25.41 44.71 8.97 49.84 19.875 20.250 16.000 16.44 16.44
YFCB Yonkers Financial Corporation 5.19 56.29 12.75 60.04 15.250 15.750 14.375 14.14 14.14
YFED York Financial Corp. 1.74 2.34 6.30 169.08 19.875 20.000 17.750 14.28 14.28
-------------------------- ----------------------------------------------------------------
Average 12.97 17.05 7.56 217.44 20.90 21.45 17.82 15.72 15.24
47
Balance Sheet Growth as of
The Most Recent Quarter Market Data as of The Most Recent Quarter
-------------------------- ----------------------------------------------------------------
Asset Loan Deposit MRQ MRQ MRQ MRQ MRQ Publicly MRQ Tangible
Growth Growth Growth Market Price Price Price Reported Publicly Rep
Rate Rate Rate Value Per Share High Low Book Value Book Value
Ticker Short Name (%) (%) (%) ($) ($) ($) ($) ($) ($)
- -------------------------------------- -------------------------- ----------------------------------------------------------------
Comparable Thrift Data
ALBC Albion Banc Corp. 13.95 6.41 16.03 5.81 23.000 23.000 18.125 23.96 23.96
ATSB AmTrust Capital Corp. (6.58) (2.97) 10.48 6.71 12.125 12.250 10.000 13.72 13.57
CLAS Classic Bancshares Inc. (3.13) 21.40 (5.61) 18.43 14.000 14.750 12.250 14.87 12.57
FFDF FFD Financial Corp. (4.05) 13.06 1.61 21.46 14.000 14.000 13.000 14.51 14.51
HFFB Harrodsburg First Fin Bancorp 2.82 2.03 0.46 30.88 14.875 16.000 14.875 15.68 15.68
HZFS Horizon Financial Svcs Corp. 38.80 1.90 8.56 8.03 19.250 19.500 17.000 19.77 19.77
LXMO Lexington B&L Financial Corp. (3.43) 5.15 (2.59) 18.22 16.625 16.625 14.125 14.73 14.73
NBSI North Bancshares Inc. (1.42) 18.04 (2.72) 22.11 19.750 20.125 19.125 16.96 16.96
PRBC Prestige Bancorp Inc. 28.03 40.04 7.42 15.55 15.625 16.125 15.500 16.51 16.51
SOBI Sobieski Bancorp Inc. 13.53 23.75 2.65 12.59 14.750 15.250 14.500 17.24 17.24
SZB SouthFirst Bancshares Inc. 18.83 27.83 (7.99) 13.56 16.000 16.000 13.875 16.06 16.06
-------------------------- ----------------------------------------------------------------
Average 8.85 14.24 2.57 15.76 16.36 16.69 14.76 16.73 16.51
Maximum 38.80 40.04 16.03 30.88 23.00 23.00 19.13 23.96 23.96
Minimum (6.58) (2.97) (7.99) 5.81 12.13 12.25 10.00 13.72 12.57
48
Dividends Current Pricing Data as of 9/8/97
---------------------- ---------------------------------------------------------------
Current LTM Dividend Price/ Price/ Price/Tang
Dividend Payout LTM Price/ Price/ Price/ Publicly Rep Publicly Rep
Yield Ratio Core EPS Assets Earnings LTM EPS Book Value Book Value
Ticker Short Name ($) (%) (x) (%) (x) (x) (%) (%)
- -------------------------------------- ---------------------- ---------------------------------------------------------------
CAL California Federal Bank, a FSB NA NA NA NA NA NA NA NA
CCMD Chevy Chase Bank, FSB NA NA NA NA NA NA NA NA
AABC Access Anytime Bancorp, Inc. 0.000 0.00 NA 7.41 14.77 NA 99.54 99.54
AADV Advantage Bancorp Inc. 0.889 29.51 17.44 14.27 13.89 36.89 154.96 165.75
ABBK Abington Bancorp Inc. 1.212 19.90 18.44 12.19 15.00 16.42 176.19 195.61
ABCL Alliance Bancorp Inc. 1.956 24.76 19.07 12.85 18.34 31.84 144.23 146.04
ABCW Anchor BanCorp Wisconsin 1.164 18.55 9.23 6.46 7.09 11.27 103.81 105.81
AFBC Advance Financial Bancorp 2.032 NA NA 16.49 NA NA 106.78 106.78
AFCB Affiliated Community Bancorp 1.803 30.40 15.57 15.79 15.13 17.75 158.96 159.91
AFED AFSALA Bancorp Inc. 0.985 NA NA 14.85 17.66 NA 102.07 102.07
AFFFZ America First Financial Fund 3.975 34.33 7.30 11.04 10.94 8.64 138.94 140.69
AHCI Ambanc Holding Co. 1.280 0.00 NA 14.15 27.90 NA 109.34 109.34
AHM Ahmanson & Company (H.F.) 1.609 49.72 19.46 11.20 13.54 30.90 268.74 315.39
ALBC Albion Banc Corp. 1.376 114.81 23.97 8.47 29.06 86.11 97.04 97.04
ALBK ALBANK Financial Corp. 1.811 27.01 15.35 14.15 14.61 18.84 153.77 175.96
AMFC AMB Financial Corp. 1.655 35.82 21.32 14.84 13.43 21.64 99.18 99.18
ANA Acadiana Bancshares Inc. 1.650 NA NA 22.31 20.97 NA 128.46 128.46
ANBK American National Bancorp 0.611 23.68 22.56 14.03 17.52 51.64 150.04 150.04
ANDB Andover Bancorp Inc. 2.194 23.06 11.65 12.76 12.50 12.02 158.32 158.32
ASBI Ameriana Bancorp 2.943 79.73 21.32 17.66 20.14 29.39 161.23 161.35
ASBP ASB Financial Corp. 3.048 NA 21.88 20.12 17.27 31.25 129.31 129.31
ASFC Astoria Financial Corp. 1.220 25.13 17.38 13.46 17.08 25.75 172.05 204.86
ATSB AmTrust Capital Corp. 1.569 11.36 47.22 9.45 21.25 28.98 92.93 93.96
AVND Avondale Financial Corp. 0.000 0.00 NA 8.42 5.63 NA 92.27 92.27
BANC BankAtlantic Bancorp Inc. 1.056 973.67 18.38 10.29 13.02 15.82 183.02 222.82
BDJI First Federal Bancorporation 0.000 0.00 19.61 13.19 16.19 36.85 121.38 121.38
BFD BostonFed Bancorp Inc. 1.474 28.95 19.59 11.58 15.83 25.00 123.62 127.86
BFFC Big Foot Financial Corp. 0.000 NA NA 21.01 27.73 NA 123.69 123.69
BFSB Bedford Bancshares Inc. 2.333 41.32 15.38 20.24 15.79 19.83 135.21 135.21
BKC American Bank of Connecticut 3.892 50.16 14.07 14.08 11.42 12.05 169.96 177.03
BKCT Bancorp Connecticut Inc. 3.077 41.37 17.47 19.22 14.77 16.50 187.54 187.54
BKUNA BankUnited Financial Corp. 0.000 0.00 21.71 6.07 22.10 45.83 163.04 201.22
BNKU Bank United Corp. 1.370 NA NA 11.29 18.92 NA 221.66 227.21
BPLS Bank Plus Corp. 0.000 0.00 NA 6.25 15.89 NA 123.39 123.65
BSBC Branford Savings Bank 1.580 19.35 16.33 17.80 15.82 16.33 191.78 191.78
BTHL Bethel Bancorp 2.560 20.83 16.89 6.89 16.45 13.02 91.17 108.60
BVCC Bay View Capital Corp. 1.208 33.51 17.79 11.11 19.49 28.19 175.26 208.83
BWFC Bank West Financial Corp. 1.753 53.85 38.83 20.56 21.73 35.10 141.69 141.69
BYFC Broadway Financial Corp. 1.818 NA 26.83 7.52 17.19 NA 75.09 75.09
CAFI Camco Financial Corp. 2.790 44.02 13.25 11.65 9.86 16.75 121.74 131.97
CAPS Capital Savings Bancorp Inc. 1.524 27.78 14.19 12.29 12.70 19.44 139.63 139.63
CASB Cascade Financial Corp. 0.000 0.00 20.63 9.08 16.25 30.95 148.06 148.06
CASH First Midwest Financial Inc. 1.920 35.76 13.59 13.68 14.20 19.53 120.04 135.48
CATB Catskill Financial Corp. 1.723 17.07 20.06 26.98 19.35 19.82 107.76 107.76
CBCI Calumet Bancorp Inc. 0.000 0.00 15.12 18.07 11.81 17.93 116.53 116.53
CBES CBES Bancorp Inc. 2.254 NA NA 19.11 16.44 NA 103.92 103.92
CBK Citizens First Financial Corp. 0.000 0.00 33.56 17.31 28.32 64.73 112.30 112.30
CBSA Coastal Bancorp Inc. 1.600 29.79 12.99 5.03 13.64 21.28 152.83 183.82
CBSB Charter Financial Inc. 1.580 26.92 19.1 21.37 11.25 19.47 147.70 166.94
CCFH CCF Holding Company 3.235 NA NA 13.83 212.50 NA 118.38 118.38
CEBK Central Co-operative Bank 1.542 16.44 14.12 11.84 16.73 14.21 119.25 133.27
CENB Century Bancorp Inc. 2.516 NA NA 32.40 16.99 NA 108.24 108.24
CENF CENFED Financial Corp. 1.002 17.04 13.12 8.97 14.04 18.72 172.36 172.70
CFB Commercial Federal Corp. 0.609 13.77 16.20 13.97 14.74 22.89 232.68 262.41
CFBC Community First Banking Co. 0.000 NA NA NA NA NA NA NA
CFCP Coastal Financial Corp. 1.485 37.09 25 22.38 19.56 26.65 362.48 362.48
CFFC Community Financial Corp. 2.575 40.91 12.87 15.81 13.94 16.48 115.32 115.32
CFNC Carolina Fincorp Inc. 1.362 NA NA 29.26 23.19 NA 128.28 128.28
CFSB CFSB Bancorp Inc. 2.264 39.12 16.67 15.97 12.74 20.54 209.49 209.49
CFTP Community Federal Bancorp 1.739 444.44 22.70 38.20 28.75 27.38 123.57 123.57
CFX CFX Corp. 4.241 75.27 15.26 14.67 14.02 18.36 197.24 210.87
CIBI Community Investors Bancorp 2.065 40.42 15.66 15.61 14.90 23.48 129.60 129.60
CKFB CKF Bancorp Inc. 2.632 118.03 21.11 28.91 8.48 15.57 111.96 111.96
CLAS Classic Bancshares Inc. 1.982 36.36 19.35 14.12 17.66 25.68 94.99 112.37
49
Dividends Current Pricing Data as of 9/8/97
---------------------- ---------------------------------------------------------------
Current LTM Dividend Price/ Price/ Price/Tang
Dividend Payout LTM Price/ Price/ Price/ Publicly Rep Publicly Rep
Yield Ratio Core EPS Assets Earnings LTM EPS Book Value Book Value
Ticker Short Name ($) (%) (x) (%) (x) (x) (%) (%)
- -------------------------------------- ---------------------- ---------------------------------------------------------------
CMRN Cameron Financial Corp 1.566 35.44 17.88 22.56 17.88 22.63 104.05 104.05
CMSB Commonwealth Bancorp Inc. 1.617 36.11 20.86 12.93 18.82 24.05 134.31 171.76
CMSV Community Savings FA (MHC) 2.748 116.44 29.50 23.82 30.32 44.86 205.33 205.33
CNIT CENIT Bancorp Inc. 2.030 42.99 16.09 11.45 13.68 22.29 158.26 172.32
CNSB CNS Bancorp Inc. 1.371 55.56 35.71 29.42 31.25 64.81 117.92 117.92
CNY Carver Bancorp Inc. 1.675 NA NA 6.68 21.32 NA 79.96 83.37
COFI Charter One Financial 1.768 32.07 15.50 17.94 14.73 19.50 267.44 285.67
CONE Conestoga Bancorp, Inc. NA 28.17 NA NA NA NA NA NA
COOP Cooperative Bankshares Inc. 0.000 0 82.35 11.85 20.59 NA 155.30 155.30
CRZY Crazy Woman Creek Bancorp 2.759 70.18 20.71 25.51 19.08 25.44 98.77 98.77
CSA Coast Savings Financial 0.000 0.00 20.85 10.15 19.09 54.53 206.26 208.95
CSBF CSB Financial Group Inc. 0.000 0.00 43.98 22.90 49.48 69.85 91.42 96.78
CTZN CitFed Bancorp Inc. 0.774 15.60 17.68 12.97 15.5 24.73 203.68 226.17
CVAL Chester Valley Bancorp Inc. 1.996 39.76 15.91 13.36 14.58 22.58 159.70 159.70
DCBI Delphos Citizens Bancorp Inc. 0.000 NA NA 32.34 17.71 NA 113.86 113.86
DIBK Dime Financial Corp. 1.356 12.68 10.89 17.38 9.58 10.69 218.20 225.54
DIME Dime Community Bancorp Inc. 0.932 4.79 19.71 19.23 22.99 20.55 132.46 153.77
DME Dime Bancorp Inc. 0.795 3.92 15.60 10.39 19.35 19.73 197.11 206.62
DNFC D & N Financial Corp. 0.952 0.00 15.00 10.69 12.50 19.81 193.73 195.90
DSL Downey Financial Corp. 1.391 36.74 16.20 10.45 18.55 27.38 150.72 152.82
EBSI Eagle Bancshares 3.582 95.24 16.26 11.17 15.51 26.59 134.54 134.54
EFBC Empire Federal Bancorp Inc. 1.905 NA NA 37.61 23.16 NA 100.64 100.64
EFBI Enterprise Federal Bancorp 5.128 163.04 18.57 14.76 17.41 21.2 123.50 123.57
EGFC Eagle Financial Corp. 2.778 187.76 23.23 11.23 NA 73.47 163.49 209.42
EGLB Eagle BancGroup Inc. 0.000 NA NA 11.81 29.69 NA 99.61 99.61
EIRE Emerald Isle Bancorp Inc. 1.109 17.62 15.88 13.34 15.03 16.72 188.57 188.57
EMLD Emerald Financial Corp. 1.730 29.63 13.88 11.64 11.56 17.13 153.65 156.07
EQSB Equitable Federal Savings Bank 0.000 0 11.36 7.33 11.3 18.2 145.35 145.35
ESBK Elmira Savings Bank (The) 2.639 56.14 21.85 7.52 16.84 21.27 117.04 122.04
ESX Essex Bancorp Inc. 0.000 0.00 NA 1.08 NA NA 395.51 625.16
ETFS East Texas Financial Services 1.046 51.28 27.32 17.40 23.91 49.04 95.77 95.77
FAB FirstFed America Bancorp Inc. 0.000 NA NA 17.27 25.31 NA 131.92 131.92
FBBC First Bell Bancorp Inc. 2.510 336.63 13.86 14.53 12.85 15.78 147.85 147.85
FBCI Fidelity Bancorp Inc. 1.430 29.17 17.08 12.75 15.12 23.31 122.80 123.07
FBCV 1ST Bancorp 1.143 33.37 68.63 9.03 11.51 29.91 109.38 111.64
FBER 1st Bergen Bancorp 1.081 28.57 26.81 19.49 22.02 44.05 137.34 137.34
FBHC Fort Bend Holding Corp. 1.147 38.89 23.56 9.05 17.79 48.44 150.13 161.16
FBNW FirstBank Corp. 0.000 NA NA NA NA NA NA NA
FBSI First Bancshares Inc. 0.825 16.13 16.17 16.20 16.39 19.56 119.63 119.81
FCB Falmouth Co-Operative Bank 1.159 28.85 34.50 26.74 35.94 33.17 112.01 112.01
FCBF FCB Financial Corp. 2.991 80.00 22.48 20.71 33.44 29.72 142.29 142.29
FCME First Coastal Corp. 0.000 0 2.45 9.59 10.75 2.38 103.86 103.86
FDEF First Defiance Financial 2.169 72.09 26.34 24.95 23.05 34.30 117.06 117.06
FED FirstFed Financial Corp. 0.000 0 17.18 8.8 17.44 31.42 182.21 184.23
FESX First Essex Bancorp Inc. 2.667 33.10 14.17 10.85 13.64 12.41 155.57 179.10
FFBA First Colorado Bancorp Inc. 2.339 46.91 17.10 20.63 16.80 23.23 159.57 161.76
FFBH First Federal Bancshares of AR 1.133 11.49 18.59 19.38 18.27 24.35 129.51 129.51
FFBI First Financial Bancorp Inc. 0.000 0.00 21.35 9.33 NA NA 107.83 107.83
FFBS FFBS BanCorp Inc. 2.174 51.55 18.70 27.39 23.00 23.71 135.53 135.53
FFBZ First Federal Bancorp Inc. 1.297 29.38 17.45 14.45 13.21 23.13 209.99 210.23
FFCH First Financial Holdings Inc. 2.095 48.61 16.53 13.11 15.08 23.87 214.44 214.44
FFDB FirstFed Bancorp Inc. 2.817 61.05 13.45 11.54 13.05 20.64 122.58 134.47
FFDF FFD Financial Corp. 2.034 NA NA 25.16 26.34 NA 101.65 101.65
FFED Fidelity Federal Bancorp 4.267 466.67 34.72 9.33 11.72 62.5 181.33 181.33
FFES First Federal of East Hartford 1.750 40.27 13.94 9.33 16.80 23.01 145.07 145.07
FFFC FFVA Financial Corp. 1.600 34.92 20.00 24.27 17.86 23.81 172.31 176.06
FFFD North Central Bancshares Inc. 1.504 25.77 14.98 25.44 13.85 17.14 112.26 112.26
FFFG F.F.O. Financial Group Inc. 0.000 0.00 18.94 16.34 19.53 23.15 243.19 243.19
FFFL Fidelity Bankshares Inc. (MHC) 3.186 160.00 35.31 19.14 32.10 56.50 228.56 230.24
FFHC First Financial Corp. 1.832 39.04 16.62 19.99 15.16 22.43 280.63 288.04
FFHH FSF Financial Corp. 2.817 61.73 17.75 14.23 15.30 21.91 110.66 110.66
FFHS First Franklin Corporation 1.620 91.43 16.74 10.37 13.72 56.43 115.03 115.77
FFIC Flushing Financial Corp. 1.094 18.75 22.62 20.35 18.91 22.85 131.52 131.52
FFKY First Federal Financial Corp. 2.575 43.86 16.11 24.03 14.31 19.08 175.40 186.38
50
Dividends Current Pricing Data as of 9/8/97
---------------------- ---------------------------------------------------------------
Current LTM Dividend Price/ Price/ Price/Tang
Dividend Payout LTM Price/ Price/ Price/ Publicly Rep Publicly Rep
Yield Ratio Core EPS Assets Earnings LTM EPS Book Value Book Value
Ticker Short Name ($) (%) (x) (%) (x) (x) (%) (%)
- -------------------------------------- ---------------------- ---------------------------------------------------------------
FFLC FFLC Bancorp Inc. 1.512 43.14 21.90 19.01 20.35 31.13 140.99 140.99
FFOH Fidelity Financial of Ohio 1.750 46.15 19.28 17.01 17.39 30.77 131.47 148.98
FFPB First Palm Beach Bancorp Inc. 1.714 NA NA 10.57 19.02 NA 160.85 164.86
FFSL First Independence Corp. 1.818 50.00 19.37 12.36 19.10 30.56 118.53 118.53
FFSX First Fed SB of Siouxland(MHC) 1.714 67.99 23.53 16.90 23.33 40.58 203.78 205.58
FFWC FFW Corp. 2.441 33.16 12.45 11.65 13.41 15.53 122.36 135.76
FFWD Wood Bancorp Inc. 2.540 31.54 17.90 20.36 14.58 21.28 165.44 165.44
FFYF FFY Financial Corp. 2.593 56.72 16.17 18.67 13.50 22.69 136.16 136.16
FGHC First Georgia Holding Inc. 0.688 17.77 20.95 15.13 16.15 25.83 184.09 200.78
FIBC Financial Bancorp Inc. 1.739 38.46 14.56 14.02 14.38 25.27 149.84 150.62
FISB First Indiana Corporation 2.087 40.35 NA 15.97 15.54 20.00 167.03 169.12
FKFS First Keystone Financial 0.702 10.42 13.97 10.91 11.88 19.79 149.29 149.29
FKKY Frankfort First Bancorp Inc. 3.273 NA 47.83 27.24 NA NA 158.50 158.50
FLAG FLAG Financial Corp. 2.230 NA 108.93 14.00 15.25 NA 146.07 146.07
FLFC First Liberty Financial Corp. 1.798 29.52 14.54 13.33 12.36 16.98 180.89 200.63
FLGS Flagstar Bancorp Inc. 0.000 NA NA 16.70 NA NA 231.04 NA
FLKY First Lancaster Bancshares 3.187 NA NA 37.18 24.51 NA 108.64 108.64
FMBD First Mutual Bancorp Inc. 2.065 266.67 51.67 13.01 29.81 129.17 92.65 122.34
FMCO FMS Financial Corporation 1.028 13.16 12.27 11.72 11.35 17.93 178.81 182.03
FMSB First Mutual Savings Bank 0.952 12.52 14.48 13.13 13.13 14.09 192.48 192.48
FNGB First Northern Capital Corp. 2.327 79.41 12.85 19.05 21.48 20.22 168.92 168.92
FOBC Fed One Bancorp 2.900 61.05 14.49 13.30 14.71 21.05 115.94 121.58
FPRY First Financial Bancorp NA 39.66 NA NA NA NA NA NA
FRC First Republic Bancorp 0.000 0 18.75 10.56 14.86 16.04 147.19 147.28
FSBI Fidelity Bancorp Inc. 1.636 29.92 13.17 9.39 13.41 20.75 138.98 138.98
FSFC First Southeast Financial Corp 1.548 NA 21.83 20.32 18.45 NA 198.72 198.72
FSLA First Savings Bank (MHC) 1.477 51.51 26.42 22.86 24.62 41.67 242.72 272.19
FSNJ Bayonne Bancshares Inc. 1.363 NA NA NA NA NA NA NA
FSPG First Home Bancorp Inc. 1.988 24.07 11.37 10.43 12.27 12.42 156.61 159.22
FSPT FirstSpartan Financial Corp. 0 NA NA NA NA NA NA NA
FSSB First FS&LA of San Bernardino 0.000 0.00 NA 3.05 NA NA 70.36 73.03
FSTC First Citizens Corp. 1.375 15.60 11.43 17.31 4.88 11.35 177.88 228.73
FTF Texarkana First Financial Corp 2.274 253.83 14.75 25.73 13.10 17.97 163.84 163.84
FTFC First Federal Capital Corp. 2.021 37.62 15.03 13.81 14.14 20.30 214.35 227.93
FTNB Fulton Bancorp Inc. 0.930 NA NA 37.17 38.39 NA 148.58 148.58
FTSB Fort Thomas Financial Corp. 2.128 NA 23.50 18.12 12.77 36.72 112.98 112.98
FWWB First SB of Washington Bancorp 1.137 23.08 21.41 24.11 18.66 23.68 157.05 170.06
GAF GA Financial Inc. 2.612 38.75 20.65 19.57 17.67 22.97 128.95 130.32
GBCI Glacier Bancorp Inc. 2.685 40.01 14.53 21.45 13.14 16.25 220.14 225.98
GDVS Greater Delaware Valley (MHC) 1.485 156.52 57.74 32.47 37.89 105.43 280.67 280.67
GDW Golden West Financial 0.504 6.41 10.95 12.68 14.18 13.18 199.03 199.03
GFCO Glenway Financial Corp. 2.883 63.39 15.68 11.02 13.34 26.18 116.16 117.73
GFED Guaranty Federal SB (MHC) 2.186 102.7 36.59 31.51 31.45 54.39 228.69 228.69
GFSB GFS Bancorp Inc. 1.825 25.29 13.83 15.30 11.88 16.76 133.68 133.68
GOSB GSB Financial Corp. 0.000 NA NA NA NA NA NA NA
GPT GreenPoint Financial Corp. 1.584 26.47 19.30 21.38 18.35 18.57 184.20 327.58
GRTR Greater New York Savings Bank 0.865 17.86 31.68 12.30 28.91 27.53 196.98 196.98
GSB Golden State Bancorp Inc. 0.000 0.00 21.16 9.53 21.92 49.50 196.34 220.94
GSBC Great Southern Bancorp Inc. 2.270 35.23 14.10 20.18 11.91 16.02 236.58 236.58
GSFC Green Street Financial Corp. 2.362 94.92 25.87 45.85 27.39 31.57 126.44 126.44
GSLA GS Financial Corp. 1.750 NA NA 44.64 NA NA 97.80 97.80
GTFN Great Financial Corporation 1.684 32.69 23.59 16.13 15.63 22.84 174.63 182.32
GTPS Great American Bancorp 2.254 210.53 43.29 22.81 40.34 93.42 96.68 96.68
GUPB GFSB Bancorp Inc. 2.133 111.94 22.32 18.11 22.32 27.99 111.08 111.08
GWBC Gateway Bancorp Inc. 2.230 78.43 NA 30.23 32.03 35.17 111.76 111.76
HALL Hallmark Capital Corp. 0.000 0.00 13.10 7.75 10.78 16.54 107.00 107.00
HARB Harbor Florida Bancorp (MHC) 2.405 63.73 22.14 25.91 21.40 28.54 308.85 319.36
HARL Harleysville Savings Bank 1.553 25.92 13.21 12.64 12.15 18.13 193.46 193.46
HARS Harris Savings Bank (MHC) 1.307 72.5 44.82 24.36 24.65 55.47 304.15 347.77
HAVN Haven Bancorp Inc. 1.534 29.70 12.38 9.61 19.56 19.37 161.67 162.28
HBBI Home Building Bancorp 1.463 88.24 25.63 14.18 17.08 60.29 101.69 101.69
HBEI Home Bancorp of Elgin Inc. 2.222 NA NA 35.00 40.91 NA 131.10 131.10
HBFW Home Bancorp 0.889 26.32 19.23 16.96 18.15 29.61 127.70 127.70
HBNK Highland Federal Bank FSB 0.000 0.00 21.76 13.80 13.04 32.18 184.56 184.56
51
Dividends Current Pricing Data as of 9/8/97
---------------------- ---------------------------------------------------------------
Current LTM Dividend Price/ Price/ Price/Tang
Dividend Payout LTM Price/ Price/ Price/ Publicly Rep Publicly Rep
Yield Ratio Core EPS Assets Earnings LTM EPS Book Value Book Value
Ticker Short Name ($) (%) (x) (%) (x) (x) (%) (%)
- -------------------------------------- ---------------------- ---------------------------------------------------------------
HBS Haywood Bancshares Inc. 2.947 61.80 15.20 15.79 14.39 21.35 113.37 117.57
HCBB HCB Bancshares Inc. 0.000 NA NA NA NA NA NA NA
HCFC Home City Financial Corp. 2.065 NA NA 21.63 19.38 NA 96.57 96.57
HEMT HF Bancorp Inc. 0.000 0.00 47.27 9.65 NA NA 117.25 NA
HFFB Harrodsburg First Fin Bancorp 2.623 93.22 20.33 28.34 19.06 25.85 97.26 97.26
HFFC HF Financial Corp. 1.732 30.25 15.16 12.86 12.63 20.38 136.39 136.39
HFGI Harrington Financial Group 0.960 4.92 18.38 9.11 22.32 20.49 162.97 162.97
HFNC HFNC Financial Corp. 1.710 NA 25.99 31.44 31.49 35.60 174.76 174.76
HFSA Hardin Bancorp Inc. 2.844 70.00 19.40 13.42 15.07 28.13 107.62 107.62
HHFC Harvest Home Financial Corp. 3.333 NA 22.64 12.53 15.79 46.15 106.1 106.1
HIFS Hingham Instit. for Savings 1.939 26.88 13.31 14.83 12.13 13.31 158.45 158.45
HMCI HomeCorp Inc. 0.000 0.00 21.20 8.55 16.11 72.83 130.76 130.76
HMLK Hemlock Federal Financial Corp 1.567 NA NA 19.28 NA NA 105.10 105.10
HMNF HMN Financial Inc. 0.000 0.00 20.87 18.30 18.11 24.63 126.80 126.80
HOMF Home Federal Bancorp 1.613 20.83 13.60 15.42 13.14 15.82 181.82 187.65
HPBC Home Port Bancorp Inc. 3.497 46.24 13.30 21.20 12.71 13.22 200.83 200.83
HRBF Harbor Federal Bancorp Inc. 2.025 66.67 21.24 15.46 19.75 32.92 119.84 119.84
HRZB Horizon Financial Corp. 2.581 62.18 14.76 22.17 14.35 14.49 142.07 142.07
HTHR Hawthorne Financial Corp. 0.000 0.00 25.93 6.11 7.90 NA 132.94 132.94
HVFD Haverfield Corp. 2.004 53.92 16.83 15.39 14.86 27.39 180.13 180.13
HWEN Home Financial Bancorp 1.217 NA NA 18.16 20.55 NA 107.23 107.23
HZFS Horizon Financial Svcs Corp. 1.695 47.06 17.48 9.34 20.52 27.76 95.47 95.47
IBSF IBS Financial Corp. 2.319 143.76 29.24 25.90 28.75 50.74 148.84 148.84
IFSB Independence Federal Svgs Bank 1.571 33.33 25.45 6.94 6.86 21.21 100.79 114.01
INBI Industrial Bancorp 3.148 68.09 18.83 23.22 14.66 32.45 131.13 131.13
INCB Indiana Community Bank SB 2.286 NA 32.81 15.90 26.25 105.00 128.36 128.36
IPSW Ipswich Savings Bank 0.906 13.04 10.43 8.31 7.53 8.23 145.44 145.44
ISBF ISB Financial Corporation 1.569 45.12 22.77 18.58 23.61 31.10 144.80 170.23
ITLA ITLA Capital Corp. 0.000 0 12.85 16.82 12.01 12.85 153.10 153.75
IWBK InterWest Bancorp Inc. 1.519 31.11 17.10 17.32 15.67 21.94 255.50 261.07
JOAC Joachim Bancorp Inc. 3.419 227.27 39.53 30.24 33.24 66.48 107.38 107.38
JSB JSB Financial Inc. 2.959 48.69 18.70 30.42 17.14 17.72 133.13 133.13
JSBA Jefferson Savings Bancorp 1.131 38.30 16.53 13.70 15.79 37.63 147.64 190.29
JXSB Jacksonville Savings Bk (MHC) 1.778 117.65 35.16 17.59 31.25 66.18 167.66 167.66
JXVL Jacksonville Bancorp Inc. 2.963 64.94 7.40 18.58 10.29 21.92 124.54 124.54
KFBI Klamath First Bancorp 1.509 50.00 23.38 27.35 22.59 34.27 127.65 127.65
KNK Kankakee Bancorp Inc. 1.593 28.76 15.37 12.57 15.06 19.69 113.29 120.55
KSAV KS Bancorp Inc. 3.243 87.38 12.01 15.43 12.17 17.96 114.13 114.20
KSBK KSB Bancorp Inc. 0.640 9.27 9.84 10.61 10.42 10.87 147.75 156.25
KYF Kentucky First Bancorp Inc. 3.922 583.33 16.35 18.91 15.94 21.25 114.25 114.25
LARK Landmark Bancshares Inc. 1.468 37.74 21.29 20.44 19.46 25.71 148.18 148.18
LARL Laurel Capital Group Inc. 2.213 29.73 12.57 16.00 11.99 15.88 159.43 159.43
LFBI Little Falls Bancorp Inc. 1.185 25.81 31.84 15.44 23.44 54.44 116.30 125.93
LFCO Life Financial Corp. 0.000 NA NA 56.34 9.57 NA 263.54 263.54
LFED Leeds Federal Savings Bk (MHC) 2.512 107.81 33.99 37.07 30.25 47.27 228.99 228.99
LIFB Life Bancorp Inc. 1.954 42.86 18.61 16.25 18.61 23.39 154.10 158.68
LISB Long Island Bancorp Inc. 1.356 37.67 26.18 17.95 20.87 30.31 199.59 201.59
LOGN Logansport Financial Corp. 2.623 465.75 16.22 23.12 15.89 20.89 120.46 120.46
LONF London Financial Corporation 1.600 46.15 19.48 20.21 22.06 28.85 102.74 102.74
LSBI LSB Financial Corp. 1.528 19.35 15.67 10.68 13.57 13.91 112.37 112.37
LSBX Lawrence Savings Bank 0.000 0.00 8.78 13.93 9.33 8.78 160.24 160.24
LVSB Lakeview Financial 0.709 9.51 20.14 16.85 16.32 14.04 177.05 221.42
LXMO Lexington B&L Financial Corp. 1.875 26.32 21.05 30.75 18.18 28.07 108.62 108.62
MAFB MAF Bancorp Inc. 0.882 14.37 13.93 14.71 12.40 18.25 189.10 216.43
MARN Marion Capital Holdings 3.745 63.08 15.16 23.97 14.69 18.08 106.38 106.38
MASB MASSBANK Corp. 2.438 28.65 15.49 15.55 14.75 14.75 146.16 146.16
MBB MSB Bancorp Inc. 2.533 153.85 22.14 8.28 21.15 60.74 112.00 228.21
MBBC Monterey Bay Bancorp Inc. 0.722 33.33 29.69 13.06 34.64 55.42 107.54 116.67
MBLF MBLA Financial Corp. 1.720 38.46 17.48 12.86 18.16 22.36 105.78 105.78
MBSP Mitchell Bancorp Inc. 2.336 NA NA 48.25 28.54 NA 111.27 111.27
MCBN Mid-Coast Bancorp Inc. 2.080 48.15 14.97 9.73 12.76 23.15 113.12 113.12
MCBS Mid Continent Bancshares Inc. 1.060 21.28 17.81 18.09 16.00 20.08 189.41 189.41
MDBK Medford Savings Bank 2.233 36.17 14.73 13.65 12.40 13.72 151.84 162.96
MECH Mechanics Savings Bank 0.000 0.00 8.55 15.50 4.40 8.55 151.44 151.44
52
Dividends Current Pricing Data as of 9/8/97
---------------------- ---------------------------------------------------------------
Current LTM Dividend Price/ Price/ Price/Tang
Dividend Payout LTM Price/ Price/ Price/ Publicly Rep Publicly Rep
Yield Ratio Core EPS Assets Earnings LTM EPS Book Value Book Value
Ticker Short Name ($) (%) (x) (%) (x) (x) (%) (%)
- -------------------------------------- ---------------------- ---------------------------------------------------------------
MERI Meritrust Federal SB 1.595 35.53 14.92 14.87 12.32 23.09 181.23 181.23
METF Metropolitan Financial Corp. 0.000 0.00 14.98 7.78 12.25 26.27 196.58 217.33
MFBC MFB Corp. 1.391 39.47 21.10 15.66 19.17 30.26 114.71 114.71
MFCX Marshalltown Financial Corp. 0.000 0.00 29.39 18.54 29.91 57.76 117.79 117.79
MFFC Milton Federal Financial Corp. 4.248 730.95 25.22 16.32 22.07 33.63 115.21 115.21
MFLR Mayflower Co-operative Bank 3.443 38.85 15.93 13.99 13.34 14.21 144.48 146.95
MFSL Maryland Federal Bancorp 1.758 33.43 14.35 12.62 15.80 21.06 150.56 152.48
MGNL Magna Bancorp Inc. 2.222 44.78 18.24 27.44 16.46 20.15 268.39 275.79
MIFC Mid-Iowa Financial Corp. 0.831 11.43 NA 12.85 8.30 13.75 137.50 137.70
MIVI Mississippi View Holding Co. 1.008 26.67 18.25 18.63 15.26 26.46 98.66 98.66
MLBC ML Bancorp Inc. 1.939 30.56 18.25 10.52 15.63 16.37 150.77 153.46
MONT Montgomery Financial Corp. 0.000 NA NA NA NA NA NA NA
MRKF Market Financial Corp. 1.973 NA NA 33.49 27.28 NA 95.67 95.67
MSBF MSB Financial Inc. 2.074 38.43 16.67 22.57 14.06 20.15 132.74 132.74
MSBK Mutual Savings Bank FSB 0.000 0.00 NA 8.25 108.33 72.22 135.84 135.84
MWBI Midwest Bancshares Inc. 1.667 34.32 12.81 8.56 11.54 21.30 123.88 123.88
MWBX MetroWest Bank 1.794 31.37 13.11 16.47 11.94 13.11 221.46 221.46
MWFD Midwest Federal Financial 1.600 24.62 17.14 16.70 12.07 16.35 189.56 196.58
NASB North American Savings Bank 1.538 17.60 13.61 15.74 10.48 12.84 204.97 212.07
NBN Northeast Bancorp 1.889 44.44 25.66 8.72 14.60 23.53 125.56 145.27
NBSI North Bancshares Inc. 2.133 77.19 29.22 18.75 31.25 39.47 132.67 132.67
NEIB Northeast Indiana Bancorp 1.882 31.5 14.66 17.00 13.28 17 111.92 111.92
NHTB New Hampshire Thrift Bncshrs 2.548 96.15 23.64 12.75 14.43 37.74 166.60 195.66
NASB NewMil Bancorp Inc. 1.846 37.70 22.41 15.43 20.31 21.31 157.19 157.19
NSLB NS&L Bancorp Inc. 2.667 113.64 31.25 22.22 24.67 42.61 113.57 113.57
NSSB Norwich Financial Corp. 2.009 43.48 21.44 21.17 19.91 20.20 189.63 210.06
NSSY Norwalk Savings Society 1.096 10.78 53.68 13.25 19.01 15.73 169.45 175.14
NTMG Nutmeg Federal S&LA 0.000 34.09 32.35 7.93 22.92 50.00 142.49 142.49
NWEQ Northwest Equity Corp. 3.225 46.74 15.07 13.96 12.22 17.53 113.32 113.32
NWSB Northwest Savings Bank (MHC) 1.255 54.24 30.72 28.50 28.98 43.22 300.35 319.15
NYB New York Bancorp Inc. 1.928 25.54 16.13 20.47 13.42 16.73 402.65 402.65
OCFC Ocean Financial Corp. 2.336 NA NA 20.35 19.46 NA 125.23 125.23
OCN Ocwen Financial Corp. 0.000 0.00 27.27 41.95 15.81 16.65 479.40 502.01
OFCP Ottawa Financial Corp. 1.553 45.68 20.12 14.68 16.51 31.79 168.19 209.52
OHSL OHSL Financial Corp. 3.648 76.64 16.19 12.54 14.36 22.55 113.74 113.74
PALM Palfed Inc. 0.671 90.91 24.16 14.21 16.55 162.50 172.37 172.37
PAMM PacificAmerica Money Center 0.000 0.00 5.85 31.75 3.35 5.85 147.25 147.25
PBCI Pamrapo Bancorp Inc. 4.651 87.16 14.73 16.48 12.22 19.72 129.36 130.38
PBCT People's Bank (MHC) 2.315 43.00 28.52 22.79 20.40 21.29 268.76 269.00
PBHC Oswego City Savings Bk (MHC) 1.436 26.83 23.49 19.58 14.34 23.78 166.95 200.62
PBKB People's Bancshares Inc. 2.627 27.56 20.94 10.28 11.96 13.19 179.91 186.94
PCBC Perry County Financial Corp. 1.882 41.67 15.74 21.69 17.71 22.14 112.97 112.97
PCCI Pacific Crest Capital 0.000 0 15.25 12.07 12.71 14.12 170.39 170.39
PDB Piedmont Bancorp Inc. 3.765 NA 35.42 23.81 20.43 NA 143.19 143.19
PEEK Peekskill Financial Corp. 2.198 64.29 22.13 28.64 24.08 29.24 111.32 111.32
PERM Permanent Bancorp Inc. 1.684 44.78 19.79 11.02 18.55 35.45 120.31 122.11
PERT Perpetual Bank (MHC) 2.642 135.59 32.92 31.12 30.11 44.92 263.16 263.16
PETE Primary Bank 0.000 0.00 18.66 13.00 NA 22.40 187.54 187.81
PFDC Peoples Bancorp 2.353 43.48 13.71 20.16 13.28 18.48 132.61 132.61
PFED Park Bancorp Inc. 0.000 NA NA 23.54 21.25 NA 104.49 104.49
PFFB PFF Bancorp Inc. 0.000 0.00 31.35 14.05 23.51 85.87 136.11 137.53
PFFC Peoples Financial Corp. 2.963 NA NA 29.09 30.13 NA 106.94 106.94
PFNC Progress Financial Corp. 0.796 15.69 22.12 13.10 16.34 28.19 246.57 279.13
PFSB PennFed Financial Services Inc 0.933 14.58 14.35 10.94 13.64 20.83 137.43 164.29
PFSL Pocahontas FS&LA (MHC) 3.158 63.97 18.27 12.29 18.75 20.96 193.09 193.09
PHBK Peoples Heritage Finl Group 1.924 28.81 16.06 19.34 15.43 16.26 250.48 297.22
PHFC Pittsburgh Home Financial Corp 1.267 38.89 20.58 14.55 15.78 26.30 133.27 134.79
PHSB Peoples Home Savings Bk (MHC) 0.000 NA NA NA NA NA NA NA
PKPS Poughkeepsie Financial Corp. 1.270 45.45 21.88 11.27 21.88 35.80 134.62 134.62
PLSK Pulaski Savings Bank (MHC) 1.727 NA NA 20.28 NA NA 170.34 170.34
PMFI Perpetual Midwest Financial 1.437 125.00 35.99 9.89 20.07 86.98 115.97 115.97
PRBC Prestige Bancorp Inc. 0.706 11.76 19.54 11.46 15.74 33.33 102.97 102.97
PROV Provident Financial Holdings 0.000 0.00 55.38 15.94 20.77 48.63 114.78 114.78
PSBK Progressive Bank Inc. 2.076 26.61 14.62 14.24 14.12 14.36 166.50 186.40
53
Dividends Current Pricing Data as of 9/8/97
---------------------- ---------------------------------------------------------------
Current LTM Dividend Price/ Price/ Price/Tang
Dividend Payout LTM Price/ Price/ Price/ Publicly Rep Publicly Rep
Yield Ratio Core EPS Assets Earnings LTM EPS Book Value Book Value
Ticker Short Name ($) (%) (x) (%) (x) (x) (%) (%)
- -------------------------------------- ---------------------- ---------------------------------------------------------------
PSFC Peoples-Sidney Financial Corp. 1.231 NA NA NA NA NA NA NA
PSFI PS Financial Inc. 2.065 NA NA 40.92 18.45 NA 105.73 105.73
PTRS Potters Financial Corp. 1.455 25.22 12.38 9.94 9.98 21.52 112.65 112.65
PULB Pulaski Bank, Svgs Bank (MHC) 3.791 172.41 33.81 30.64 25.36 45.47 234.86 234.86
PULS Pulse Bancorp 3.256 59.83 12.57 12.69 11.44 18.38 157.74 157.74
PVFC PVF Capital Corp. 0.000 0 8.58 14.71 11.39 14.64 209.4 209.4
PVSA Parkvale Financial Corporation 1.719 31.33 12.40 12.38 12.20 18.22 163.16 164.40
PWBC PennFirst Bancorp Inc. 2.094 47.72 14.47 10.15 14.47 21.70 125.60 134.35
PWBK Pennwood Bancorp Inc. 1.910 NA NA 19.42 24.63 NA 111.30 111.30
QCBC Quaker City Bancorp Inc. 0.000 0 20.75 12.18 16.21 34.02 138.89 138.98
QCFB QCF Bancorp Inc. 0.000 0.00 13.97 23.83 13.89 17.12 131.72 131.72
QCSB Queens County Bancorp Inc. 1.848 33.82 26.53 37.56 25.06 26.15 272.95 272.95
RARB Raritan Bancorp Inc. 2.000 30.74 15.89 15.26 15.38 17.02 192.31 195.44
RCSB RCSB Financial Inc. 1.165 22.89 21.02 18.31 23.41 20.68 240.43 246.41
REDF RedFed Bancorp Inc. 0.000 0.00 23.48 13.66 13.16 157.95 161.63 162.23
RELI Reliance Bancshares Inc. 0.000 NA 30.36 45.72 106.25 34.00 93.61 93.61
RELY Reliance Bancorp Inc. 2.000 49.59 17.88 14.21 16.67 26.45 172.60 239.52
RIVR River Valley Bancorp 0.970 NA NA 13.98 13.75 NA 112.86 114.58
ROSE TR Financial Corp. 2.222 23.50 16.36 13.32 14.06 14.75 200.74 200.74
RSLN Roslyn Bancorp Inc. 1.055 NA NA 31.43 21.88 NA 156.04 156.79
RVSB Riverview Savings Bank (MHC) 0.865 24.38 25.23 29.22 22.38 31.53 260.07 284.91
SBFL SB of the Finger Lakes (MHC) 1.600 266.67 96.15 20.59 52.08 166.67 214.96 214.96
SBOS Boston Bancorp (The) NA 10.89 NA NA NA NA NA NA
SCBS Southern Community Bancshares 1.890 NA NA 25.66 18.90 NA 120.36 120.36
SCCB S. Carolina Community Bancshrs 2.553 111.11 33.57 35.66 32.64 43.52 137.35 137.35
SECP Security Capital Corp. 1.135 20.40 18.68 26.51 17.06 22.12 173.90 173.90
SFED SFS Bancorp Inc. 1.418 39.06 17.95 14.12 21.47 30.86 113.25 113.25
SFFC StateFed Financial Corporation 1.818 33.33 15.17 20.12 12.79 18.33 113.17 113.17
SFIN Statewide Financial Corp. 2.235 48.19 14.37 13.78 14.92 23.72 141.64 141.95
SFNB Security First Network Bank 0.000 0.00 NA 131.58 NA NA 397.35 404.04
SFSB SuburbFed Financial Corp. 1.164 27.59 16.27 8.13 13.22 23.71 125.46 125.92
SFSL Security First Corp. 1.803 37.02 17.07 20.58 17.07 21.91 218.60 222.15
SGVB SGV Bancorp Inc. 0.000 0.00 26.75 8.73 17.33 47.66 119.42 121.42
SHEN First Shenango Bancorp Inc. 2.152 30.72 NA 14.04 12.02 16.79 128.16 128.16
SISB SIS Bancorp Inc. 1.806 7.23 9.39 12.05 14.62 9.34 169.31 169.31
SKAN Skaneateles Bancorp Inc. 1.720 20.45 13.6 8.95 12.37 13.21 130.69 134.86
SKBO First Carnegie Deposit (MHC) 1.875 NA NA 25.01 NA NA 152.09 152.09
SMBC Southern Missouri Bancorp Inc. 2.920 69.44 16.79 16.93 16.47 23.78 108.04 108.04
SMFC Sho-Me Financial Corp. 0.000 0.00 17.26 17.78 13.18 19.12 180.39 180.39
SOBI Sobieski Bancorp Inc. 1.969 43.75 26.64 15.40 29.02 50.78 94.26 94.26
SOPN First Savings Bancorp Inc. 3.951 75.51 17.31 25.32 15.82 20.66 110.90 110.90
SOSA Somerset Savings Bank 0.000 0.00 15.62 12.64 9.77 15.62 199.29 199.29
SPBC St. Paul Bancorp Inc 1.658 32.36 18.28 17.78 16.75 27.11 206.73 207.26
SRN Southern Banc Company Inc. 2.154 228.26 30.09 19.04 33.85 70.65 112.69 113.88
SSB Scotland Bancorp Inc 1.558 52.63 27.50 53.02 32.08 33.77 143.12 143.12
SSFC South Street Financial Corp. 2.162 NA NA 34.41 25.69 NA 125.94 125.94
SSM Stone Street Bancorp Inc. 2.099 542.26 21.23 38.34 38.28 25.52 132.91 132.91
STFR St. Francis Capital Corp. 1.289 26.14 19.30 12.02 13.50 21.16 154.05 174.31
STND Standard Financial Inc. 1.561 47.37 22.67 16.13 21.35 33.71 149.74 150
STSA Sterling Financial Corp. 0.000 0.00 24.40 6.68 16.88 96.43 166.39 190.86
SVRN Sovereign Bancorp Inc. 0.513 12.00 NA 10.02 14.44 23.99 227.65 302.21
SWBI Southwest Bancshares 3.753 74.26 14.78 14.20 13.68 20.05 129.15 129.15
SWCB Sandwich Co-operative Bank 3.333 50.44 15.45 13.74 15.52 15.79 172.83 180.54
SZB SouthFirst Bancshares Inc. 3.125 NA 84.21 13.94 26.67 NA 99.63 99.63
TBK Tolland Bank 1.119 9.11 15.96 11.71 14.90 16.71 168.63 173.54
THR Three Rivers Financial Corp. 2.481 52.38 17.34 14.57 17.53 25.60 105.88 106.30
THRD TF Financial Corporation 1.951 42.86 18.14 13.06 16.53 24.4 108.70 123.94
TPNZ Tappan Zee Financial Inc. 1.612 33.33 20.93 20.95 24.13 28.96 123.14 123.14
TRIC Tri-County Bancorp Inc. 2.553 49.55 17.03 15.99 14.69 21.17 104.40 104.40
TSBS Peoples Bancorp Inc. (MHC) 1.167 40.70 41.10 42.97 30.00 34.88 254.45 277.26
TSH Teche Holding Co. 2.721 60.24 15.98 15.55 16.41 22.14 118.32 118.32
TWIN Twin City Bancorp 3.160 94.12 20.88 16.10 15.82 29.78 125.23 125.23
UBMT United Financial Corp. 4.083 100.00 19.83 27.80 19.35 25.81 119.40 119.40
UFRM United Federal Savings Bank 2.087 110.53 34.85 12.83 20.54 60.53 171.64 171.64
54
Dividends Current Pricing Data as of 9/8/97
---------------------- ---------------------------------------------------------------
Current LTM Dividend Price/ Price/ Price/Tang
Dividend Payout LTM Price/ Price/ Price/ Publicly Rep Publicly Rep
Yield Ratio Core EPS Assets Earnings LTM EPS Book Value Book Value
Ticker Short Name ($) (%) (x) (%) (x) (x) (%) (%)
- -------------------------------------- ---------------------- ---------------------------------------------------------------
USAB USABancshares, Inc. 0.000 0.00 33.00 12.54 14.73 30.56 128.11 130.54
VABF Virginia Beach Fed. Financial 1.429 69.23 24.56 11.28 17.50 53.85 164.71 164.71
VFFC Virginia First Financial Corp. 0.418 5.56 27.83 17.00 15.75 13.30 210.91 218.41
WAMU Washington Mutual Inc. 1.689 84.48 24.98 16.57 16.65 55.12 310.38 327.05
WAYN Wayne Savings & Loan Co. (MHC) 2.756 180.85 30.41 19.90 25.57 66.18 215.31 215.31
WBST Webster Financial Corp. 1.429 37.76 17.78 11.29 14.29 28.57 224.81 263.16
WCBI Westco Bancorp 2.264 44.88 16.67 21.06 15.41 20.87 138.16 138.16
WCFB Webster City Federal SB (MHC) 4.507 163.27 NA 39.37 27.73 36.22 168.41 168.41
WEFC Wells Financial Corp. 2.909 0.00 15.14 16.00 14.73 22.30 112.78 112.78
WEHO Westwood Homestead Fin. Corp. 1.806 NA NA 32.18 32.29 NA 109.39 109.39
WES Westcorp 1.834 36.04 83.90 15.53 14.35 19.65 171.62 172.03
WFI Winton Financial Corp. 2.831 38.26 12.90 10.17 10.16 14.13 143.05 146.13
WFSG Wilshire Financial Services 0.000 NA NA 13.77 8.24 NA 238.75 238.75
WFSL Washington Federal Inc. 3.315 44.76 12.73 22.86 12.39 14.16 189.29 207.24
WHGB WHG Bancshares Corp. 1.270 42.86 27.16 22.97 23.16 45.00 111.23 111.23
WOFC Western Ohio Financial Corp. 4.124 175.44 31.49 14.31 30.31 42.54 103.72 111.24
WRNB Warren Bancorp Inc. 2.849 43.01 11.13 19.28 11.13 9.46 185.85 185.85
WSB Washington Savings Bank, FSB 1.379 35.71 17.68 11.92 18.13 25.89 143.56 143.56
WSFS WSFS Financial Corporation 0.000 0.00 11.02 12.61 11.60 11.10 242.29 244.23
WSTR WesterFed Financial Corp. 1.956 44.06 18.6 13.10 14.80 23.44 120.06 150.10
WVFC WVS Financial Corp. 2.870 177.51 13.27 16.53 13.94 16.49 148.11 148.11
WWFC Westwood Financial Corporation 0.941 25.64 15.98 12.31 14.36 27.24 134.84 151.35
WYNE Wayne Bancorp Inc. 0.808 18.87 22.3 20.10 22.92 46.7 150.55 150.55
YFCB Yonkers Financial Corporation 1.208 25.64 19.3 20.94 18.40 25.48 140.56 140.56
YFED York Financial Corp. 2.487 59.23 19.15 14.55 15.87 24.37 168.94 168.94
---------------------------------------------------------------------------------------
Average 1.654 55.89 21.45 17.84 18.99 29.59 154.36 160.81
55
Dividends Current Pricing Data as of 9/8/97
---------------------- ---------------------------------------------------------------
Current LTM Dividend Price/ Price/ Price/Tang
Dividend Payout LTM Price/ Price/ Price/ Publicly Rep Publicly Rep
Yield Ratio Core EPS Assets Earnings LTM EPS Book Value Book Value
Ticker Short Name ($) (%) (x) (%) (x) (x) (%) (%)
- -------------------------------------- ---------------------- ---------------------------------------------------------------
Comparable Thrift Data
ALBC Albion Banc Corp. 1.376 114.81 23.97 8.47 29.06 86.11 97.04 97.04
ATSB AmTrust Capital Corp. 1.569 11.36 47.22 9.45 21.25 28.98 92.93 93.96
CLAS Classic Bancshares Inc. 1.982 36.36 19.35 14.12 17.66 25.68 94.99 112.37
FFDF FFD Financial Corp. 2.034 NA NA 25.16 26.34 NA 101.65 101.65
HFFB Harrodsburg First Fin Bancorp 2.623 93.22 20.33 28.34 19.06 25.85 97.26 97.26
HZFS Horizon Financial Svcs Corp. 1.695 47.06 17.48 9.34 20.52 27.76 95.47 95.47
LXMO Lexington B&L Financial Corp. 1.875 26.32 21.05 30.75 18.18 28.07 108.62 108.62
NBSI North Bancshares Inc. 2.133 77.19 29.22 18.75 31.25 39.47 132.67 132.67
PRBC Prestige Bancorp Inc. 0.706 11.76 19.54 11.46 15.74 33.33 102.97 102.97
SOBI Sobieski Bancorp Inc. 1.969 43.75 26.64 15.40 29.02 50.78 94.26 94.26
SZB SouthFirst Bancshares Inc. 3.125 NA 84.21 13.94 26.67 NA 99.63 99.63
---------------------------------------------------------------------------------------
Average 1.92 51.31 30.90 16.83 23.16 38.45 101.59 103.26
Maximum 3.13 114.81 84.21 30.75 31.25 86.11 132.67 132.67
Minimum 0.71 0.00 0.00 8.47 15.74 0.00 92.93 93.96
56
Productivity Income
--------------- -----------------------------------------------------------
Full Time
Equivalent
Employees Net Income Core Income Core EPS Price/
Ticker Short Name Most Recent Qtr Most Recent Qtr Most Recent Qtr Most Recent Qtr Core EPS
- -------------------------------------- --------------- -----------------------------------------------------------
CAL California Federal Bank, a FSB NA 63,309 57,250 NA NA
CCMD Chevy Chase Bank, FSB NA 2,796 (11,488) NA NA
AABC Access Anytime Bancorp, Inc. NA 136 118 0.10 16.25
AADV Advantage Bancorp Inc. 289 2,781 2,484 0.72 15.63
ABBK Abington Bancorp Inc. 156 1,096 1,000 0.50 16.50
ABCL Alliance Bancorp Inc. 442 2,636 2,583 0.45 18.75
ABCW Anchor BanCorp Wisconsin 553 4,621 4,317 0.91 7.55
AFBC Advance Financial Bancorp NA 229 224 NA NA
AFCB Affiliated Community Bancorp 205 2,942 2,922 0.44 15.13
AFED AFSALA Bancorp Inc. 44 310 310 0.23 17.66
AFFFZ America First Financial Fund 401 6,476 6,731 0.96 10.48
AHCI Ambanc Holding Co. 184 572 456 0.11 35.51
AHM Ahmanson & Company (H.F.) 7755 115,656 88,227 0.75 18.23
ALBC Albion Banc Corp. NA 50 45 0.18 32.29
ALBK ALBANK Financial Corp. 1,220 9,441 9,262 0.67 14.83
AMFC AMB Financial Corp. NA 245 157 0.17 21.32
ANA Acadiana Bancshares Inc. NA 625 615 0.26 20.97
ANBK American National Bancorp NA 981 976 0.28 17.52
ANDB Andover Bancorp Inc. 284 3,182 3,090 0.60 12.92
ASBI Ameriana Bancorp 145 889 828 0.25 21.75
ASBP ASB Financial Corp. 23 295 294 0.19 17.27
ASFC Astoria Financial Corp. 934 15,207 14,467 0.68 18.08
ATSB AmTrust Capital Corp. NA 76 55 0.11 28.98
AVND Avondale Financial Corp. 214 2,285 (436) (0.12) NA
BANC BankAtlantic Bancorp Inc. 1,009 6,821 4,478 0.16 19.53
BDJI First Federal Bancorporation 39 189 188 0.33 16.19
BFD BostonFed Bancorp Inc. 256 1,705 1,541 0.27 17.59
BFFC Big Foot Financial Corp. NA 371 371 0.16 27.73
BFSB Bedford Bancshares Inc. 36 407 407 0.38 15.79
BKC American Bank of Connecticut 133 1,927 1,744 0.73 12.67
BKCT Bancorp Connecticut Inc. 109 1,494 1,358 0.50 16.25
BKUNA BankUnited Financial Corp. 240 1,991 1,986 0.14 22.10
BNKU Bank United Corp. NA 17,280 16,818 0.52 19.65
BPLS Bank Plus Corp. 477 3,250 2,590 0.14 20.43
BSBC Branford Savings Bank 74 537 528 0.08 15.82
BTHL Bethel Bancorp NA 302 263 0.16 19.53
BVCC Bay View Capital Corp. 631 4,504 4,622 0.35 18.93
BWFC Bank West Financial Corp. 56 336 234 0.15 30.42
BYFC Broadway Financial Corp. 54 145 145 0.16 17.19
CAFI Camco Financial Corp. 175 1,453 1,226 0.38 11.68
CAPS Capital Savings Bancorp Inc. 77 585 575 0.30 13.13
CASB Cascade Financial Corp. 100 579 548 0.19 17.11
CASH First Midwest Financial Inc. 105 913 854 0.31 15.12
CATB Catskill Financial Corp. 64 949 943 0.21 19.35
CBCI Calumet Bancorp Inc. 135 2,065 1,986 0.87 12.21
CBES CBES Bancorp Inc. 45 257 232 0.24 18.49
CBK Citizens First Financial Corp. 100 444 396 0.14 32.37
CBSA Coastal Bancorp Inc. 455 2,819 2,819 0.55 13.64
CBSB Charter Financial Inc. 104 1,909 1,071 0.25 20.25
CCFH CCF Holding Company 68 17 (99) (0.12) NA
CEBK Central Co-operative Bank NA 606 606 0.31 16.73
CENB Century Bancorp Inc. 11 439 444 1.18 16.84
CENF CENFED Financial Corp. 360 3,796 3,409 0.57 15.76
CFB Commercial Federal Corp. 1541 17,060 16,951 0.78 14.74
CFBC Community First Banking Co. 179 636 641 NA NA
CFCP Coastal Financial Corp. 177 1,516 1,368 0.28 21.65
CFFC Community Financial Corp. NA 495 498 0.39 13.94
CFNC Carolina Fincorp Inc. 41 341 341 0.19 23.19
CFSB CFSB Bancorp Inc. 227 2,796 2,554 0.47 14.10
CFTP Community Federal Bancorp 28 650 657 0.15 28.75
CFX CFX Corp. 752 4,807 4,201 0.32 16.21
CIBI Community Investors Bancorp 22 230 230 0.26 14.90
CKFB CKF Bancorp Inc. 8 496 222 0.25 19.00
CLAS Classic Bancshares Inc. NA 237 237 0.20 17.66
57
Productivity Income
--------------- -----------------------------------------------------------
Full Time
Equivalent
Employees Net Income Core Income Core EPS Price/
Ticker Short Name Most Recent Qtr Most Recent Qtr Most Recent Qtr Most Recent Qtr Core EPS
- -------------------------------------- --------------- -----------------------------------------------------------
CMRN Cameron Financial Corp 52 637 637 0.25 17.88
CMSB Commonwealth Bancorp Inc. 749 3,680 2,680 0.17 25.46
CMSV Community Savings FA (MHC) 258 1,383 1,383 0.27 30.32
CNIT CENIT Bancorp Inc. NA 1,548 1,421 0.83 14.83
CNSB CNS Bancorp Inc. 27 215 215 0.14 31.25
CNY Carver Bancorp Inc. 103 310 310 0.14 21.32
COFI Charter One Financial 2,626 45,731 45,516 0.96 14.73
CONE Conestoga Bancorp, Inc. 105 742 334 0.07 NA
COOP Cooperative Bankshares Inc. 115 543 535 0.33 21.21
CRZY Crazy Woman Creek Bancorp 10 172 177 0.20 18.13
CSA Coast Savings Financial 1488 12,646 12,612 0.65 19.09
CSBF CSB Financial Group Inc. NA 52 51 0.06 49.48
CTZN CitFed Bancorp Inc. 740 6,666 6,663 0.75 15.50
CVAL Chester Valley Bancorp Inc. 108 740 702 0.34 15.44
DCBI Delphos Citizens Bancorp Inc. 22 449 449 0.24 17.71
DIBK Dime Financial Corp. 145 4,150 4,146 0.77 9.58
DIME Dime Community Bancorp Inc. 248 2,655 2,208 0.17 28.40
DME Dime Bancorp Inc. 3,011 27,772 26,440 0.25 20.13
DNFC D & N Financial Corp. NA 3,579 3,106 0.36 14.58
DSL Downey Financial Corp. 1,181 8,310 8,096 0.30 19.17
EBSI Eagle Bancshares 529 1,560 1,550 0.27 15.51
EFBC Empire Federal Bancorp Inc. NA 416 416 0.17 23.16
EFBI Enterprise Federal Bancorp NA 551 551 0.28 17.41
EGFC Eagle Financial Corp. 418 (4,315) (1,466) (0.23) NA
EGLB Eagle BancGroup Inc. 50 170 123 0.10 41.56
EIRE Emerald Isle Bancorp Inc. 112 972 977 0.42 15.03
EMLD Emerald Financial Corp. 135 1,536 1,469 0.29 11.96
EQSB Equitable Federal Savings Bank NA 532 528 0.82 11.43
ESBK Elmira Savings Bank (The) 126 248 243 0.35 17.32
ESX Essex Bancorp Inc. NA 390 254 (0.01) NA
ETFS East Texas Financial Services 28 191 183 0.19 25.16
FAB FirstFed America Bancorp Inc. NA 1,647 1,574 0.19 26.64
FBBC First Bell Bancorp Inc. 60 1,914 1,746 0.28 14.23
FBCI Fidelity Bancorp Inc. 110 1,032 1,032 0.37 15.12
FBCV 1ST Bancorp 88 536 224 0.32 27.34
FBER 1st Bergen Bancorp 55 570 570 0.21 22.02
FBHC Fort Bend Holding Corp. 141 519 456 0.43 20.28
FBNW FirstBank Corp. NA 225 108 NA NA
FBSI First Bancshares Inc. NA 408 390 0.35 17.32
FCB Falmouth Co-Operative Bank 28 172 164 0.11 39.20
FCBF FCB Financial Corp. NA 690 1,072 0.31 21.57
FCME First Coastal Corp. 68 351 277 0.20 13.44
FDEF First Defiance Financial 147 1,521 1,493 0.16 23.05
FED FirstFed Financial Corp. 442 5,348 5,332 0.50 17.44
FESX First Essex Bancorp Inc. 284 2,526 2,167 0.28 16.07
FFBA First Colorado Bancorp Inc. 293 4,529 4,488 0.28 16.80
FFBH First Federal Bancshares of AR 154 1,320 1,064 0.23 23.03
FFBI First Financial Bancorp Inc. 37 (194) 85 0.21 22.62
FFBS FFBS BanCorp Inc. 31 380 380 0.25 23.00
FFBZ First Federal Bancorp Inc. 71 608 549 0.32 14.45
FFCH First Financial Holdings Inc. 553 3,603 3,426 0.54 15.91
FFDB FirstFed Bancorp Inc. NA 434 434 0.34 13.05
FFDF FFD Financial Corp. 16 192 220 0.16 23.05
FFED Fidelity Federal Bancorp 118 529 505 0.19 12.34
FFES First Federal of East Hartford 187 1,417 1,561 0.56 15.30
FFFC FFVA Financial Corp. 133 1,930 1,873 0.41 18.29
FFFD North Central Bancshares Inc. NA 959 959 0.30 13.85
FFFG F.F.O. Financial Group Inc. NA 709 581 0.07 22.32
FFFL Fidelity Bankshares Inc. (MHC) 286 1,465 1,460 0.22 32.10
FFHC First Financial Corp. 1776 19,980 19,527 0.53 15.45
FFHH FSF Financial Corp. 90 823 813 0.29 15.30
FFHS First Franklin Corporation 49 442 413 0.34 14.52
FFIC Flushing Financial Corp. 174 2,123 2,125 0.29 18.91
FFKY First Federal Financial Corp. 100 1,571 1,571 0.38 14.31
58
Productivity Income
--------------- -----------------------------------------------------------
Full Time
Equivalent
Employees Net Income Core Income Core EPS Price/
Ticker Short Name Most Recent Qtr Most Recent Qtr Most Recent Qtr Most Recent Qtr Core EPS
- -------------------------------------- --------------- -----------------------------------------------------------
FFLC FFLC Bancorp Inc. 125 902 902 0.39 20.35
FFOH Fidelity Financial of Ohio 118 1,221 1,216 0.23 17.39
FFPB First Palm Beach Bancorp Inc. 415 2,352 2,101 0.41 21.34
FFSL First Independence Corp. 24 177 177 0.18 19.10
FFSX First Fed SB of Siouxland(MHC) 171 851 832 0.29 24.14
FFWC FFW Corp. 46 391 385 0.54 13.66
FFWD Wood Bancorp Inc. 47 590 530 0.24 16.41
FFYF FFY Financial Corp. 180 2,007 1,991 0.50 13.50
FGHC First Georgia Holding Inc. 82 381 381 0.12 16.15
FIBC Financial Bancorp Inc. 60 661 659 0.40 14.38
FISB First Indiana Corporation 542 3,973 3,314 0.31 18.55
FKFS First Keystone Financial 73 673 616 0.55 12.95
FKKY Frankfort First Bancorp Inc. 25 (831) (116) (0.04) NA
FLAG FLAG Financial Corp. 111 509 378 0.19 20.07
FLFC First Liberty Financial Corp. 543 3,496 3,195 0.41 13.57
FLGS Flagstar Bancorp Inc. NA 5,141 5,141 NA NA
FLKY First Lancaster Bancshares 8 143 143 0.16 24.51
FMBD First Mutual Bancorp Inc. 173 436 405 0.12 32.29
FMCO FMS Financial Corporation 274 1,457 1,456 0.60 11.35
FMSB First Mutual Savings Bank 113 1,109 1,067 0.38 13.82
FNGB First Northern Capital Corp. 218 1,459 1,398 0.15 22.92
FOBC Fed One Bancorp 124 818 818 0.34 14.71
FPRY First Financial Bancorp NA 257 141 0.15 NA
FRC First Republic Bancorp 171 4,352 3,566 0.34 17.92
FSBI Fidelity Bancorp Inc. 106 656 645 0.40 13.75
FSFC First Southeast Financial Corp 121 899 899 0.21 18.45
FSLA First Savings Bank (MHC) 218 2,454 2,426 0.33 24.62
FSNJ Bayonne Bancshares Inc. NA 838 838 NA NA
FSPG First Home Bancorp Inc. 118 1,122 1,095 0.40 12.58
FSPT FirstSpartan Financial Corp. NA 1,046 1,046 NA NA
FSSB First FS&LA of San Bernardino 51 (32) (32) (0.10) NA
FSTC First Citizens Corp. NA 3,228 3,058 1.55 5.16
FTF Texarkana First Financial Corp 35 797 795 0.47 13.10
FTFC First Federal Capital Corp. NA 4,209 3,592 0.36 16.49
FTNB Fulton Bancorp Inc. 39 226 226 0.14 38.39
FTSB Fort Thomas Financial Corp. 19 331 331 0.23 12.77
FWWB First SB of Washington Bancorp NA 3,245 3,113 0.32 19.24
GAF GA Financial Inc. 202 2,018 2,000 0.26 17.67
GBCI Glacier Bancorp Inc. 252 2,292 2,292 0.34 13.14
GDVS Greater Delaware Valley (MHC) 67 533 533 0.16 37.89
GDW Golden West Financial 4,476 87,277 85,287 1.50 14.56
GFCO Glenway Financial Corp. 65 586 586 0.52 13.34
GFED Guaranty Federal SB (MHC) 67 506 481 0.15 33.54
GFSB GFS Bancorp Inc. NA 308 308 0.30 11.88
GOSB GSB Financial Corp. NA 125 124 NA NA
GPT GreenPoint Financial Corp. 1,911 35,129 36,721 0.90 17.53
GRTR Greater New York Savings Bank NA 4,746 4,699 0.20 28.91
GSB Golden State Bancorp Inc. NA 24,294 29,125 0.43 17.84
GSBC Great Southern Bancorp Inc. 425 3,030 2,934 0.36 12.24
GSFC Green Street Financial Corp. 31 728 728 0.17 27.39
GSLA GS Financial Corp. 33 519 527 NA NA
GTFN Great Financial Corporation 831 7,921 5,815 0.42 21.21
GTPS Great American Bancorp NA 193 192 0.11 40.34
GUPB GFSB Bancorp Inc. 16 171 170 0.21 22.32
GWBC Gateway Bancorp Inc. 9 155 155 0.14 32.03
HALL Hallmark Capital Corp. 76 737 684 0.47 11.70
HARB Harbor Florida Bancorp (MHC) 310 3,416 3,358 0.67 21.72
HARL Harleysville Savings Bank 52 909 909 0.53 12.15
HARS Harris Savings Bank (MHC) 501 5,065 3,698 0.33 33.62
HAVN Haven Bancorp Inc. 547 2,300 2,295 0.50 19.56
HBBI Home Building Bancorp 15 87 81 0.28 18.30
HBEI Home Bancorp of Elgin Inc. 115 719 719 0.11 40.91
HBFW Home Bancorp 81 738 738 0.31 18.15
HBNK Highland Federal Bank FSB 115 1,353 1,353 0.58 13.04
59
Productivity Income
--------------- -----------------------------------------------------------
Full Time
Equivalent
Employees Net Income Core Income Core EPS Price/
Ticker Short Name Most Recent Qtr Most Recent Qtr Most Recent Qtr Most Recent Qtr Core EPS
- -------------------------------------- --------------- -----------------------------------------------------------
HBS Haywood Bancshares Inc. 34 416 416 0.33 14.39
HCBB HCB Bancshares Inc. NA 121 135 NA NA
HCFC Home City Financial Corp. 14 178 190 0.21 18.45
HEMT HF Bancorp Inc. NA (1,236) 696 0.12 31.51
HFFB Harrodsburg First Fin Bancorp 15 378 378 0.20 19.06
HFFC HF Financial Corp. 274 1,478 1,377 0.45 13.47
HFGI Harrington Financial Group 58 445 365 0.11 28.41
HFNC HFNC Financial Corp. 125 2,033 2,033 0.13 31.49
HFSA Hardin Bancorp Inc. 19 231 200 0.24 17.58
HHFC Harvest Home Financial Corp. NA 171 170 0.19 15.79
HIFS Hingham Instit. for Savings 63 663 663 0.51 12.13
HMCI HomeCorp Inc. 184 476 422 0.23 18.21
HMLK Hemlock Federal Financial Corp 52 467 467 NA NA
HMNF HMN Financial Inc. 116 1,332 1,216 0.31 19.86
HOMF Home Federal Bancorp 251 2,078 1,907 0.54 14.35
HPBC Home Port Bancorp Inc. 51 820 811 0.45 12.71
HRBF Harbor Federal Bancorp Inc. 48 404 404 0.25 19.75
HRZB Horizon Financial Corp. 120 1,991 2,031 0.28 13.84
HTHR Hawthorne Financial Corp. 193 3,424 3,424 0.55 7.90
HVFD Haverfield Corp. 99 912 887 0.46 15.18
HWEN Home Financial Bancorp 16 97 74 0.15 27.40
HZFS Horizon Financial Svcs Corp. 28 98 88 0.21 22.47
IBSF IBS Financial Corp. 135 1,616 1,616 0.15 28.75
IFSB Independence Federal Svgs Bank NA 645 37 0.03 116.67
INBI Industrial Bancorp 84 1,283 1,283 0.26 14.66
INCB Indiana Community Bank SB 48 135 135 0.15 26.25
IPSW Ipswich Savings Bank 58 546 456 0.37 8.95
ISBF ISB Financial Corporation NA 1,752 1,785 0.28 22.77
ITLA ITLA Capital Corp. 141 3,014 3,014 0.38 12.01
IWBK InterWest Bancorp Inc. 588 5,141 5,005 0.61 16.19
JOAC Joachim Bancorp Inc. 14 82 82 0.11 33.24
JSB JSB Financial Inc. NA 7,109 7,100 0.69 17.14
JSBA Jefferson Savings Bancorp NA 2,671 2,618 0.55 16.08
JXSB Jacksonville Savings Bk (MHC) 80 229 178 0.14 40.18
JXVL Jacksonville Bancorp Inc. NA 974 974 0.41 10.29
KFBI Klamath First Bancorp 111 2,050 2,050 0.22 22.59
KNK Kankakee Bancorp Inc. 114 759 755 0.50 15.06
KSAV KS Bancorp Inc. 29 359 359 0.38 12.17
KSBK KSB Bancorp Inc. NA 351 351 0.30 10.42
KYF Kentucky First Bancorp Inc. 22 261 261 0.20 15.94
LARK Landmark Bancshares Inc. 45 627 548 0.31 21.98
LARL Laurel Capital Group Inc. 50 746 730 0.48 12.24
LFBI Little Falls Bancorp Inc. NA 469 388 0.15 28.13
LFCO Life Financial Corp. 184 1,523 1,523 0.47 9.57
LFED Leeds Federal Savings Bk (MHC) 27 861 861 0.25 30.25
LIFB Life Bancorp Inc. 220 3,201 3,183 0.33 18.61
LISB Long Island Bancorp Inc. 1,492 12,426 10,266 0.44 25.14
LOGN Logansport Financial Corp. 13 303 297 0.24 15.89
LONF London Financial Corporation 9 81 81 0.17 22.06
LSBI LSB Financial Corp. 61 361 337 0.38 14.64
LSBX Lawrence Savings Bank 101 1,435 1,419 0.32 9.33
LVSB Lakeview Financial NA 1,339 1,353 0.55 16.02
LXMO Lexington B&L Financial Corp. NA 226 226 0.22 18.18
MAFB MAF Bancorp Inc. NA 10,210 10,150 0.64 12.40
MARN Marion Capital Holdings 31 746 746 0.40 14.69
MASB MASSBANK Corp. 188 2,449 2,522 0.92 14.27
MBB MSB Bancorp Inc. 241 1,085 1,139 0.30 19.74
MBBC Monterey Bay Bancorp Inc. 92 375 374 0.12 34.64
MBLF MBLA Financial Corp. 11 442 442 0.32 18.16
MBSP Mitchell Bancorp Inc. 6 133 133 0.15 28.54
MCBN Mid-Coast Bancorp Inc. 23 113 112 0.49 12.76
MCBS Mid Continent Bancshares Inc. 160 1,127 1,127 0.59 16.00
MDBK Medford Savings Bank 255 3,092 2,662 0.56 14.40
MECH Mechanics Savings Bank 233 7,124 7,179 1.38 4.37
60
Productivity Income
--------------- -----------------------------------------------------------
Full Time
Equivalent
Employees Net Income Core Income Core EPS Price/
Ticker Short Name Most Recent Qtr Most Recent Qtr Most Recent Qtr Most Recent Qtr Core EPS
- -------------------------------------- --------------- -----------------------------------------------------------
MERI Meritrust Federal SB 92 725 725 0.89 12.32
METF Metropolitan Financial Corp. 271 1,293 1,198 0.34 13.33
MFBC MFB Corp. 67 508 509 0.30 19.17
MFCX Marshalltown Financial Corp. 32 204 204 0.14 29.91
MFFC Milton Federal Financial Corp. 51 356 334 0.15 23.54
MFLR Mayflower Co-operative Bank 47 330 294 0.33 14.96
MFSL Maryland Federal Bancorp 259 2,348 2,309 0.71 16.02
MGNL Magna Bancorp Inc. 1,046 5,698 4,465 0.32 21.09
MIFC Mid-Iowa Financial Corp. 36 506 362 0.21 11.46
MIVI Mississippi View Holding Co. 21 208 205 0.26 15.26
MLBC ML Bancorp Inc. 425 3,754 2,614 0.23 22.42
MONT Montgomery Financial Corp. 28 147 147 NA NA
MRKF Market Financial Corp. NA 162 162 0.13 27.28
MSBF MSB Financial Inc. 18 279 265 0.23 14.67
MSBK Mutual Savings Bank FSB 242 130 1 -- NA
MWBI Midwest Bancshares Inc. 39 290 290 0.78 11.54
MWBX MetroWest Bank 170 1,940 1,900 0.14 11.94
MWFD Midwest Federal Financial 92 755 567 0.33 16.10
NASB North American Savings Bank 245 2,796 2,216 0.98 13.27
NBN Northeast Bancorp 121 451 402 0.26 16.29
NBSI North Bancshares Inc. 32 175 171 0.18 31.25
NEIB Northeast Indiana Bancorp 40 522 522 0.32 13.28
NHTB New Hampshire Thrift Bncshrs 122 699 618 0.30 16.35
NASB NewMil Bancorp Inc. 134 677 643 0.15 21.67
NSLB NS&L Bancorp Inc. NA 139 139 0.19 24.67
NSSB Norwich Financial Corp. 239 1,965 1,864 0.33 21.12
NSSY Norwalk Savings Society NA 1,150 1,045 0.44 20.74
NTMG Nutmeg Federal S&LA NA 155 132 0.10 27.50
NWEQ Northwest Equity Corp. 36 252 242 0.32 12.60
NWSB Northwest Savings Bank (MHC) 785 5,036 5,071 0.22 28.98
NYB New York Bancorp Inc. 493 13,164 13,088 0.58 13.42
OCFC Ocean Financial Corp. 229 3,606 3,416 0.41 20.88
OCN Ocwen Financial Corp. 823 18,792 5,225 0.19 57.40
OFCP Ottawa Financial Corp. 261 1,962 1,903 0.38 16.94
OHSL OHSL Financial Corp. 59 516 495 0.40 15.08
PALM Palfed Inc. NA 1,457 1,348 0.25 17.88
PAMM PacificAmerica Money Center NA 4,003 4,003 1.70 3.35
PBCI Pamrapo Bancorp Inc. 98 1,260 1,260 0.44 12.22
PBCT People's Bank (MHC) 2825 21,900 12,930 0.21 34.97
PBHC Oswego City Savings Bk (MHC) 75 642 530 0.28 17.41
PBKB People's Bancshares Inc. 220 1,276 698 0.19 22.04
PCBC Perry County Financial Corp. NA 230 233 0.30 17.71
PCCI Pacific Crest Capital 62 906 906 0.30 12.71
PDB Piedmont Bancorp Inc. 30 342 344 0.13 20.43
PEEK Peekskill Financial Corp. 25 513 513 0.17 24.08
PERM Permanent Bancorp Inc. 124 638 622 0.31 19.15
PERT Perpetual Bank (MHC) 113 661 662 0.44 30.11
PETE Primary Bank 182 (140) 366 0.18 37.33
PFDC Peoples Bancorp 78 1,093 1,093 0.48 13.28
PFED Park Bancorp Inc. NA 460 391 0.17 25.00
PFFB PFF Bancorp Inc. 498 3,683 3,675 0.21 23.51
PFFC Peoples Financial Corp. 19 202 197 0.14 30.13
PFNC Progress Financial Corp. 178 867 851 0.22 16.34
PFSB PennFed Financial Services Inc 190 2,631 2,631 0.55 13.64
PFSL Pocahontas FS&LA (MHC) 63 622 622 0.38 18.75
PHBK Peoples Heritage Finl Group 2,400 17,788 17,788 0.64 15.43
PHFC Pittsburgh Home Financial Corp 58 547 448 0.25 18.94
PHSB Peoples Home Savings Bk (MHC) NA 350 298 NA NA
PKPS Poughkeepsie Financial Corp. 277 1,202 1,248 0.09 21.88
PLSK Pulaski Savings Bank (MHC) 40 324 324 NA NA
PMFI Perpetual Midwest Financial 103 505 448 0.23 22.69
PRBC Prestige Bancorp Inc. 33 224 224 0.27 15.74
PROV Provident Financial Holdings NA 1,133 633 0.13 38.34
PSBK Progressive Bank Inc. 279 2,212 2,151 0.56 14.62
61
Productivity Income
--------------- -----------------------------------------------------------
Full Time
Equivalent
Employees Net Income Core Income Core EPS Price/
Ticker Short Name Most Recent Qtr Most Recent Qtr Most Recent Qtr Most Recent Qtr Core EPS
- -------------------------------------- --------------- -----------------------------------------------------------
PSFC Peoples-Sidney Financial Corp. 18 210 210 NA NA
PSFI PS Financial Inc. 15 418 424 0.21 18.45
PTRS Potters Financial Corp. 46 301 315 0.65 9.52
PULB Pulaski Bank, Svgs Bank (MHC) NA 534 460 0.22 29.97
PULS Pulse Bancorp 53 1,478 1,413 0.45 11.94
PVFC PVF Capital Corp. 124 1,222 1,095 0.40 12.81
PVSA Parkvale Financial Corporation 235 2,609 2,609 0.62 12.20
PWBC PennFirst Bancorp Inc. 131 1,454 1,460 0.27 14.47
PWBK Pennwood Bancorp Inc. 11 97 139 0.24 17.45
QCBC Quaker City Bancorp Inc. 142 1,489 1,380 0.30 17.29
QCFB QCF Bancorp Inc. NA 574 574 0.45 13.89
QCSB Queens County Bancorp Inc. 283 5,341 5,341 0.54 25.06
RARB Raritan Bancorp Inc. 87 982 928 0.37 16.22
RCSB RCSB Financial Inc. NA 8,236 8,236 0.55 23.41
REDF RedFed Bancorp Inc. 282 2,407 2,397 0.33 13.16
RELI Reliance Bancshares Inc. NA 28 14 0.01 212.50
RELY Reliance Bancorp Inc. 389 4,338 4,338 0.48 16.67
RIVR River Valley Bancorp 55 324 312 0.29 14.22
ROSE TR Financial Corp. 442 8,414 7,737 0.44 15.34
RSLN Roslyn Bancorp Inc. 385 10,467 10,130 0.25 22.75
RVSB Riverview Savings Bank (MHC) 85 745 730 0.30 23.13
SBFL SB of the Finger Lakes (MHC) 68 214 168 0.09 69.44
SBOS Boston Bancorp (The) NA 14,315 5,073 0.95 NA
SCBS Southern Community Bancshares NA 211 211 0.21 18.90
SCCB S. Carolina Community Bancshrs 9 121 121 0.18 32.64
SECP Security Capital Corp. 959 14,555 15,000 1.60 16.52
SFED SFS Bancorp Inc. 64 268 268 0.23 21.47
SFFC StateFed Financial Corporation NA 332 332 0.43 12.79
SFIN Statewide Financial Corp. NA 1,391 1,391 0.33 14.92
SFNB Security First Network Bank 16 (6,533) (6,533) (0.77) NA
SFSB SuburbFed Financial Corp. 153 700 578 0.43 15.99
SFSL Security First Corp. 157 2,189 2,189 0.26 17.07
SGVB SGV Bancorp Inc. 87 494 274 0.12 31.77
SHEN First Shenango Bancorp Inc. 110 1,207 1,202 0.58 12.02
SISB SIS Bancorp Inc. 483 2,990 2,927 0.52 14.90
SKAN Skaneateles Bancorp Inc. 103 447 437 0.46 12.64
SKBO First Carnegie Deposit (MHC) NA 239 242 NA NA
SMBC Southern Missouri Bancorp Inc. 43 415 392 0.25 17.13
SMFC Sho-Me Financial Corp. 78 1,099 1,007 0.68 14.34
SOBI Sobieski Bancorp Inc. 22 114 114 0.14 29.02
SOPN First Savings Bancorp Inc. 40 1,272 1,272 0.32 15.82
SOSA Somerset Savings Bank 150 1,708 1,698 0.10 9.77
SPBC St. Paul Bancorp Inc 1,101 12,397 12,355 0.36 16.75
SRN Southern Banc Company Inc. NA 130 130 0.12 33.85
SSB Scotland Bancorp Inc 14 260 255 0.15 32.08
SSFC South Street Financial Corp. 38 744 744 0.18 25.69
SSM Stone Street Bancorp Inc. 18 258 258 0.14 38.28
STFR St. Francis Capital Corp. 336 3,686 3,052 0.57 16.34
STND Standard Financial Inc. 434 4,812 4,647 0.29 22.09
STSA Sterling Financial Corp. 488 2,288 1,971 0.25 20.25
SVRN Sovereign Bancorp Inc. 1,585 21,506 20,536 0.26 14.99
SWBI Southwest Bancshares 95 1,011 960 0.35 14.46
SWCB Sandwich Co-operative Bank 153 1,147 1,129 0.57 15.79
SZB SouthFirst Bancshares Inc. 45 124 125 0.15 26.67
TBK Tolland Bank 88 481 477 0.30 14.90
THR Three Rivers Financial Corp. NA 180 174 0.22 18.32
THRD TF Financial Corporation 157 1,265 1,164 0.29 17.67
TPNZ Tappan Zee Financial Inc. 14 265 258 0.18 24.13
TRIC Tri-County Bancorp Inc. 19 243 238 0.39 15.06
TSBS Peoples Bancorp Inc. (MHC) 141 2,276 1,683 0.18 41.67
TSH Teche Holding Co. 153 911 909 0.28 16.41
TWIN Twin City Bancorp 53 261 242 0.30 16.88
UBMT United Financial Corp. NA 376 376 0.31 19.35
UFRM United Federal Savings Bank 144 428 113 0.04 71.88
62
Productivity Income
--------------- -----------------------------------------------------------
Full Time
Equivalent
Employees Net Income Core Income Core EPS Price/
Ticker Short Name Most Recent Qtr Most Recent Qtr Most Recent Qtr Most Recent Qtr Core EPS
- -------------------------------------- --------------- -----------------------------------------------------------
USAB USABancshares, Inc. NA 107 88 0.12 17.19
VABF Virginia Beach Fed. Financial 217 987 816 0.17 20.59
VFFC Virginia First Financial Corp. 398 2,214 1,094 0.19 31.50
WAMU Washington Mutual Inc. 9077 118,765 115,016 0.93 17.19
WAYN Wayne Savings & Loan Co. (MHC) 93 504 467 0.20 28.13
WBST Webster Financial Corp. 1137 12,038 11,764 0.96 14.58
WCBI Westco Bancorp 57 1,153 1,108 0.41 16.16
WCFB Webster City Federal SB (MHC) 21 341 341 0.16 27.73
WEFC Wells Financial Corp. NA 539 534 0.28 14.73
WEHO Westwood Homestead Fin. Corp. 19 325 325 0.12 32.29
WES Westcorp 2743 9,885 1,968 0.08 68.17
WFI Winton Financial Corp. 78 796 668 0.34 11.95
WFSG Wilshire Financial Services NA 5,112 (2,178) (0.28) NA
WFSL Washington Federal Inc. 660 27,015 26,794 0.56 12.39
WHGB WHG Bancshares Corp. NA 231 231 0.17 23.16
WOFC Western Ohio Financial Corp. 103 452 441 0.20 30.31
WRNB Warren Bancorp Inc. 140 1,624 1,643 0.41 11.13
WSB Washington Savings Bank, FSB NA 470 464 0.10 18.13
WSFS WSFS Financial Corporation 289 4,169 4,168 0.33 11.60
WSTR WesterFed Financial Corp. 369 2,139 1,958 0.35 16.07
WVFC WVS Financial Corp. 58 883 880 0.50 13.94
WWFC Westwood Financial Corporation 13 237 237 0.37 14.36
WYNE Wayne Bancorp Inc. 60 525 525 0.27 22.92
YFCB Yonkers Financial Corporation 59 793 805 0.27 18.40
YFED York Financial Corp. 396 2,760 2,440 0.34 17.74
--------------- -----------------------------------------------------------
Average 307 3,228 2,908 0.34 20.52
63
Productivity Income
--------------- -----------------------------------------------------------
Full Time
Equivalent
Employees Net Income Core Income Core EPS Price/
Ticker Short Name Most Recent Qtr Most Recent Qtr Most Recent Qtr Most Recent Qtr Core EPS
- -------------------------------------- --------------- -----------------------------------------------------------
Comparable Thrift Data
ALBC Albion Banc Corp. NA 50 45 0.18 32.29
ATSB AmTrust Capital Corp. NA 76 55 0.11 28.98
CLAS Classic Bancshares Inc. NA 237 237 0.20 17.66
FFDF FFD Financial Corp. 16 192 220 0.16 23.05
HFFB Harrodsburg First Fin Bancorp 15 378 378 0.20 19.06
HZFS Horizon Financial Svcs Corp. 28 98 88 0.21 22.47
LXMO Lexington B&L Financial Corp. NA 226 226 0.22 18.18
NBSI North Bancshares Inc. 32 175 171 0.18 31.25
PRBC Prestige Bancorp Inc. 33 224 224 0.27 15.74
SOBI Sobieski Bancorp Inc. 22 114 114 0.14 29.02
SZB SouthFirst Bancshares Inc. 45 124 125 0.15 26.67
--------------- -----------------------------------------------------------
Average 27.29 172 171 0.18 24.03
Maximum 45.00 378 378 0.27 32.29
Minimum 0.00 50 45 0.11 15.74
64
Exhibit 6
Market Multiples
Pricing Data as of September 8, 1997
--------------------------------------------------
Current Price in Relation to
Current Current -------------------------------------------------- Current LTM
Stock Market Tangible Dividend Dividend
Price Value Earnings LTM EPS Book Value Book Value Assets Yield Payout Ratio
Ticker Short Name ($) ($M) (x) (x) (%) (%) (%) (%) (%)
- ------------------------------------------------------------------------------------------------------------------------------------
CAL California Federal Bank, a FSB NA NA NA NA NA NA NA NA NA
CCMD Chevy Chase Bank, FSB NA NA NA NA NA NA NA NA NA
AABC Access Anytime Bancorp, Inc. 6.500 7.75 14.77 NA 99.54 99.540 7.41 0.000 0.00
AADV Advantage Bancorp Inc. 45.000 145.52 13.89 36.89 154.96 165.750 14.27 0.889 29.51
ABBK Abington Bancorp Inc. 33.000 60.73 15.00 16.42 176.19 195.610 12.19 1.212 19.90
ABCL Alliance Bancorp Inc. 33.750 180.39 18.34 31.84 144.23 146.040 12.85 1.956 24.76
ABCW Anchor BanCorp Wisconsin 27.500 248.84 7.09 11.27 103.81 105.810 6.46 1.164 18.55
AFBC Advance Financial Bancorp 15.750 17.08 NA NA 106.78 106.780 16.49 2.032 NA
AFCB Affiliated Community Bancorp 26.625 172.25 15.13 17.75 158.96 159.910 15.79 1.803 30.40
AFED AFSALA Bancorp Inc. 16.250 23.64 17.66 NA 102.07 102.070 14.85 0.985 NA
AFFFZ America First Financial Fund 40.250 241.93 10.94 8.64 138.94 140.690 11.04 3.975 34.33
AHCI Ambanc Holding Co. 15.625 65.24 27.90 NA 109.34 109.340 14.15 1.280 0.00
AHM Ahmanson & Company (H.F.) 54.688 5,323.10 13.54 30.90 268.74 315.390 11.20 1.609 49.72
ALBC Albion Banc Corp. 23.250 5.81 29.06 86.11 97.04 97.040 8.47 1.376 114.81
ALBK ALBANK Financial Corp. 39.750 510.15 14.61 18.84 153.77 175.960 14.15 1.811 27.01
AMFC AMB Financial Corp. 14.500 13.98 13.43 21.64 99.18 99.180 14.84 1.655 35.82
ANA Acadiana Bancshares Inc. 21.813 59.42 20.97 NA 128.46 128.460 22.31 1.650 NA
ANBK American National Bancorp 19.625 70.91 17.52 51.64 150.04 150.040 14.03 0.611 23.68
ANDB Andover Bancorp Inc. 31.000 159.60 12.50 12.02 158.32 158.320 12.76 2.194 23.06
ASBI Ameriana Bancorp 21.750 70.26 20.14 29.39 161.23 161.350 17.66 2.943 79.73
ASBP ASB Financial Corp. 13.125 22.59 17.27 31.25 129.31 129.310 20.12 3.048 NA
ASFC Astoria Financial Corp. 49.188 1,024.54 17.08 25.75 172.05 204.860 13.46 1.220 25.13
ATSB AmTrust Capital Corp. 12.750 6.71 21.25 28.98 92.93 93.960 9.45 1.569 11.36
AVND Avondale Financial Corp. 14.625 51.11 5.63 NA 92.27 92.270 8.42 0.000 0.00
BANC BankAtlantic Bancorp Inc. 12.500 283.13 13.02 15.82 183.02 222.820 10.29 1.056 973.67
BDJI First Federal Bancorporation 21.375 14.59 16.19 36.85 121.38 121.380 13.19 0.000 0.00
BFD BostonFed Bancorp Inc. 19.000 107.35 15.83 25.00 123.62 127.860 11.58 1.474 28.95
BFFC Big Foot Financial Corp. 17.750 44.60 27.73 NA 123.69 123.690 21.01 0.000 NA
BFSB Bedford Bancshares Inc. 24.000 27.42 15.79 19.83 135.21 135.210 20.24 2.333 41.32
BKC American Bank of Connecticut 37.000 85.31 11.42 12.05 169.96 177.030 14.08 3.892 50.16
BKCT Bancorp Connecticut Inc. 32.500 82.35 14.77 16.50 187.54 187.540 19.22 3.077 41.37
BKUNA BankUnited Financial Corp. 12.375 109.76 22.10 45.83 163.04 201.220 6.07 0.000 0.00
BNKU Bank United Corp. 40.875 1,291.47 18.92 NA 221.66 227.210 11.29 1.370 NA
BPLS Bank Plus Corp. 11.438 220.85 15.89 NA 123.39 123.650 6.25 0.000 0.00
BSBC Branford Savings Bank 5.063 33.21 15.82 16.33 191.78 191.780 17.80 1.580 19.35
BTHL Bethel Bancorp 12.500 15.15 16.45 13.02 91.17 108.600 6.89 2.560 20.83
BVCC Bay View Capital Corp. 26.500 343.95 19.49 28.19 175.26 208.830 11.11 1.208 33.51
BWFC Bank West Financial Corp. 18.250 32.00 21.73 35.10 141.69 141.690 20.56 1.753 53.85
BYFC Broadway Financial Corp. 11.000 9.19 17.19 NA 75.09 75.090 7.52 1.818 NA
CAFI Camco Financial Corp. 17.750 57.05 9.86 16.75 121.74 131.970 11.65 2.790 44.02
CAPS Capital Savings Bancorp Inc. 15.750 29.80 12.70 19.44 139.63 139.630 12.29 1.524 27.78
CASB Cascade Financial Corp. 13.000 33.42 16.25 30.95 148.06 148.060 9.08 0.000 0.00
CASH First Midwest Financial Inc. 18.750 51.26 14.20 19.53 120.04 135.480 13.68 1.920 35.76
CATB Catskill Financial Corp. 16.250 79.60 19.35 19.82 107.76 107.760 26.98 1.723 17.07
CBCI Calumet Bancorp Inc. 42.500 89.71 11.81 17.93 116.53 116.530 18.07 0.000 0.00
CBES CBES Bancorp Inc. 17.750 18.19 16.44 NA 103.92 103.920 19.11 2.254 NA
CBK Citizens First Financial Corp. 18.125 43.02 28.32 64.73 112.30 112.300 17.31 0.000 0.00
CBSA Coastal Bancorp Inc. 30.000 149.15 13.64 21.28 152.83 183.820 5.03 1.600 29.79
CBSB Charter Financial Inc. 20.250 84.03 11.25 19.47 147.70 166.940 21.37 1.580 26.92
CCFH CCF Holding Company 17.000 13.94 212.50 NA 118.38 118.380 13.83 3.235 NA
CEBK Central Co-operative Bank 20.750 40.77 16.73 14.21 119.25 133.270 11.84 1.542 16.44
CENB Century Bancorp Inc. 79.500 32.38 16.99 NA 108.24 108.240 32.40 2.516 NA
CENF CENFED Financial Corp. 35.938 205.87 14.04 18.72 172.36 172.700 8.97 1.002 17.04
CFB Commercial Federal Corp. 46.000 991.43 14.74 22.89 232.68 262.410 13.97 0.609 13.77
CFBC Community First Banking Co. 34.375 76.33 NA NA NA NA NA 0.000 NA
CFCP Coastal Financial Corp. 24.250 112.54 19.56 26.65 362.48 362.480 22.38 1.485 37.09
1
--------------------------------------------------
Current Price in Relation to
Current Current -------------------------------------------------- Current LTM
Stock Market Tangible Dividend Dividend
Price Value Earnings LTM EPS Book Value Book Value Assets Yield Payout Ratio
Ticker Short Name ($) ($M) (x) (x) (%) (%) (%) (%) (%)
- ------------------------------------------------------------------------------------------------------------------------------------
CFFC Community Financial Corp. 21.750 27.74 13.94 16.48 115.32 115.320 15.81 2.575 40.91
CFNC Carolina Fincorp Inc. 17.625 32.63 23.19 NA 128.28 128.280 29.26 1.362 NA
CFSB CFSB Bancorp Inc. 26.500 135.06 12.74 20.54 209.49 209.490 15.97 2.264 39.12
CFTP Community Federal Bancorp 17.250 79.85 28.75 27.38 123.57 123.570 38.20 1.739 444.44
CFX CFX Corp. 20.750 272.73 14.02 18.36 197.24 210.870 14.67 4.241 75.27
CIBI Community Investors Bancorp 15.500 14.41 14.90 23.48 129.60 129.600 15.61 2.065 40.42
CKFB CKF Bancorp Inc. 19.000 18.05 8.48 15.57 111.96 111.960 28.91 2.632 118.03
CLAS Classic Bancshares Inc. 14.125 18.43 17.66 25.68 94.99 112.370 14.12 1.982 36.36
CMRN Cameron Financial Corp 17.875 46.95 17.88 22.63 104.05 104.050 22.56 1.566 35.44
CMSB Commonwealth Bancorp Inc. 17.313 295.98 18.82 24.05 134.31 171.760 12.93 1.617 36.11
CMSV Community Savings FA (MHC) 32.750 166.70 30.32 44.86 205.33 205.330 23.82 2.748 116.44
CNIT CENIT Bancorp Inc. 49.250 81.41 13.68 22.29 158.26 172.320 11.45 2.030 42.99
CNSB CNS Bancorp Inc. 17.500 28.93 31.25 64.81 117.92 117.920 29.42 1.371 55.56
CNY Carver Bancorp Inc. 11.938 27.63 21.32 NA 79.96 83.370 6.68 1.675 NA
COFI Charter One Financial 56.563 2,612.42 14.73 19.50 267.44 285.670 17.94 1.768 32.07
CONE Conestoga Bancorp, Inc. NA NA NA NA NA NA NA NA 28.17
COOP Cooperative Bankshares Inc. 28.000 41.77 20.59 NA 155.30 155.300 11.85 0.000 0.00
CRZY Crazy Woman Creek Bancorp 14.500 13.85 19.08 25.44 98.77 98.770 25.51 2.759 70.18
CSA Coast Savings Financial 49.625 923.81 19.09 54.53 206.26 208.950 10.15 0.000 0.00
CSBF CSB Financial Group Inc. 11.875 11.18 49.48 69.85 91.42 96.780 22.90 0.000 0.00
CTZN CitFed Bancorp Inc. 46.500 401.69 15.50 24.73 203.68 226.17 12.97 0.774 15.60
CVAL Chester Valley Bancorp Inc. 21.000 45.40 14.58 22.58 159.70 159.700 13.36 1.996 39.76
DCBI Delphos Citizens Bancorp Inc. 17.000 34.66 17.71 NA 113.86 113.860 32.34 0.000 NA
DIBK Dime Financial Corp. 29.500 152.00 9.58 10.69 218.20 225.540 17.38 1.356 12.68
DIME Dime Community Bancorp Inc. 19.313 252.86 22.99 20.55 132.46 153.770 19.23 0.932 4.79
DME Dime Bancorp Inc. 20.125 2,087.34 19.35 19.73 197.11 206.620 10.39 0.795 3.92
DNFC D & N Financial Corp. 21.000 172.03 12.50 19.81 193.73 195.900 10.69 0.952 0.00
DSL Downey Financial Corp. 23.000 614.87 18.55 27.38 150.72 152.820 10.45 1.391 36.74
EBSI Eagle Bancshares 16.750 94.80 15.51 26.59 134.54 134.540 11.17 3.582 95.24
EFBC Empire Federal Bancorp Inc. 15.750 40.83 23.16 NA 100.64 100.640 37.61 1.905 NA
EFBI Enterprise Federal Bancorp 19.500 39.02 17.41 21.20 123.50 123.570 14.76 5.128 163.04
EGFC Eagle Financial Corp. 36.000 226.54 NA 73.47 163.49 209.420 11.23 2.778 187.76
EGLB Eagle BancGroup Inc. 16.625 20.58 29.69 NA 99.61 99.610 11.81 0.000 NA
EIRE Emerald Isle Bancorp Inc. 25.250 56.76 15.03 16.72 188.57 188.570 13.34 1.109 17.62
EMLD Emerald Financial Corp. 13.875 70.27 11.56 17.13 153.65 156.070 11.64 1.730 29.63
EQSB Equitable Federal Savings Bank 37.500 22.58 11.30 18.20 145.35 145.350 7.33 0.000 0.00
ESBK Elmira Savings Bank (The) 24.250 17.13 16.84 21.27 117.04 122.040 7.52 2.639 56.14
ESX Essex Bancorp Inc. 1.938 2.05 NA NA 395.51 625.160 1.08 0.000 0.00
ETFS East Texas Financial Services 19.125 19.61 23.91 49.04 95.77 95.770 17.4 1.046 51.28
FAB FirstFed America Bancorp Inc. 20.250 176.32 25.31 NA 131.92 131.920 17.27 0.000 NA
FBBC First Bell Bancorp Inc. 15.938 103.77 12.85 15.78 147.85 147.850 14.53 2.510 336.63
FBCI Fidelity Bancorp Inc. 22.375 62.47 15.12 23.31 122.80 123.070 12.75 1.430 29.17
FBCV 1ST Bancorp 35.000 24.43 11.51 29.91 109.38 111.640 9.03 1.143 33.37
FBER 1st Bergen Bancorp 18.500 55.51 22.02 44.05 137.34 137.340 19.49 1.081 28.57
FBHC Fort Bend Holding Corp. 34.875 28.85 17.79 48.44 150.13 161.160 9.05 1.147 38.89
FBNW FirstBank Corp. 17.375 34.47 NA NA NA NA NA 0.000 NA
FBSI First Bancshares Inc. 24.250 26.57 16.39 19.56 119.63 119.810 16.20 0.825 16.13
FCB Falmouth Co-Operative Bank 17.250 25.09 35.94 33.17 112.01 112.010 26.74 1.159 28.85
FCBF FCB Financial Corp. 26.750 108.96 33.44 29.72 142.29 142.290 20.71 2.991 80.00
FCME First Coastal Corp. 10.750 14.61 10.75 2.38 103.86 103.860 9.59 0.000 0.00
FDEF First Defiance Financial 14.750 137.78 23.05 34.30 117.06 117.060 24.95 2.169 72.09
FED FirstFed Financial Corp. 34.875 369.00 17.44 31.42 182.21 184.230 8.80 0.000 0.00
FESX First Essex Bancorp Inc. 18.000 135.07 13.64 12.41 155.57 179.100 10.85 2.667 33.10
FFBA First Colorado Bancorp Inc. 18.813 311.61 16.80 23.23 159.57 161.760 20.63 2.339 46.91
FFBH First Federal Bancshares of AR 21.188 103.74 18.27 24.35 129.51 129.510 19.38 1.133 11.49
FFBI First Financial Bancorp Inc. 19.000 7.89 NA NA 107.83 107.830 9.33 0.000 0.00
2
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Current Price in Relation to
Current Current -------------------------------------------------- Current LTM
Stock Market Tangible Dividend Dividend
Price Value Earnings LTM EPS Book Value Book Value Assets Yield Payout Ratio
Ticker Short Name ($) ($M) (x) (x) (%) (%) (%) (%) (%)
- ------------------------------------------------------------------------------------------------------------------------------------
FFBS FFBS BanCorp Inc. 23.000 35.82 23.00 23.71 135.53 135.530 27.39 2.174 51.55
FFBZ First Federal Bancorp Inc. 18.500 29.08 13.21 23.13 209.99 210.230 14.45 1.297 29.38
FFCH First Financial Holdings Inc. 34.375 218.51 15.08 23.87 214.44 214.440 13.11 2.095 48.61
FFDB FirstFed Bancorp Inc. 17.750 20.43 13.05 20.64 122.58 134.470 11.54 2.817 61.05
FFDF FFD Financial Corp. 14.750 21.46 26.34 NA 101.65 101.650 25.16 2.034 NA
FFED Fidelity Federal Bancorp 9.375 23.32 11.72 62.50 181.33 181.330 9.33 4.267 466.67
FFES First Federal of East Hartford 34.281 91.74 16.80 23.01 145.07 145.070 9.33 1.750 40.27
FFFC FFVA Financial Corp. 30.000 135.62 17.86 23.81 172.31 176.060 24.27 1.600 34.92
FFFD North Central Bancshares Inc. 16.625 54.16 13.85 17.14 112.26 112.260 25.44 1.504 25.77
FFFG F.F.O. Financial Group Inc. 6.250 52.79 19.53 23.15 243.19 243.190 16.34 0.000 0.00
FFFL Fidelity Bankshares Inc. (MHC) 28.250 191.28 32.10 56.50 228.56 230.240 19.14 3.186 160.00
FFHC First Financial Corp. 32.750 1,185.86 15.16 22.43 280.63 288.040 19.99 1.832 39.04
FFHH FSF Financial Corp. 17.750 53.83 15.30 21.91 110.66 110.660 14.23 2.817 61.73
FFHS First Franklin Corporation 19.750 23.54 13.72 56.43 115.03 115.770 10.37 1.620 91.43
FFIC Flushing Financial Corp. 21.938 175.04 18.91 22.85 131.52 131.520 20.35 1.094 18.75
FFKY First Federal Financial Corp. 21.750 90.70 14.31 19.08 175.40 186.380 24.03 2.575 43.86
FFLC FFLC Bancorp Inc. 31.750 73.58 20.35 31.13 140.99 140.990 19.01 1.512 43.14
FFOH Fidelity Financial of Ohio 16.000 89.27 17.39 30.77 131.47 148.980 17.01 1.750 46.15
FFPB First Palm Beach Bancorp Inc. 35.000 176.08 19.02 NA 160.85 164.860 10.57 1.714 NA
FFSL First Independence Corp. 13.750 13.64 19.10 30.56 118.53 118.530 12.36 1.818 50.00
FFSX First Fed SB of Siouxland(MHC) 28.000 79.19 23.33 40.58 203.78 205.580 16.90 1.714 67.99
FFWC FFW Corp. 29.500 20.98 13.41 15.53 122.36 135.760 11.65 2.441 33.16
FFWD Wood Bancorp Inc. 15.750 33.37 14.58 21.28 165.44 165.440 20.36 2.540 31.54
FFYF FFY Financial Corp. 27.000 111.11 13.50 22.69 136.16 136.160 18.67 2.593 56.72
FGHC First Georgia Holding Inc. 7.750 23.66 16.15 25.83 184.09 200.780 15.13 0.688 17.77
FIBC Financial Bancorp Inc. 23.000 39.61 14.38 25.27 149.84 150.620 14.02 1.739 38.46
FISB First Indiana Corporation 23.000 242.91 15.54 20.00 167.03 169.120 15.97 2.087 40.35
FKFS First Keystone Financial 28.500 34.99 11.88 19.79 149.29 149.290 10.91 0.702 10.42
FKKY Frankfort First Bancorp Inc. 11.000 36.08 NA NA 158.50 158.500 27.24 3.273 NA
FLAG FLAG Financial Corp. 15.250 31.06 15.25 NA 146.07 146.070 14.00 2.230 NA
FLFC First Liberty Financial Corp. 22.250 171.88 12.36 16.98 180.89 200.630 13.33 1.798 29.52
FLGS Flagstar Bancorp Inc. 19.500 266.57 NA NA 231.04 NA 16.70 0.000 NA
FLKY First Lancaster Bancshares 15.688 15.04 24.51 NA 108.64 108.640 37.18 3.187 NA
FMBD First Mutual Bancorp Inc. 15.500 54.35 29.81 129.17 92.65 122.340 13.01 2.065 266.67
FMCO FMS Financial Corporation 27.250 65.06 11.35 17.93 178.81 182.030 11.72 1.028 13.16
FMSB First Mutual Savings Bank 21.000 56.74 13.13 14.09 192.48 192.480 13.13 0.952 12.52
FNGB First Northern Capital Corp. 13.750 121.47 21.48 20.22 168.92 168.920 19.05 2.327 79.41
FOBC Fed One Bancorp 20.000 47.48 14.71 21.05 115.94 121.580 13.30 2.900 61.05
FPRY First Financial Bancorp NA NA NA NA NA NA NA NA 39.66
FRC First Republic Bancorp 24.375 236.27 14.86 16.04 147.19 147.280 10.56 0.000 0.00
FSBI Fidelity Bancorp Inc. 22.000 34.10 13.41 20.75 138.98 138.980 9.39 1.636 29.92
FSFC First Southeast Financial Corp 15.500 68.02 18.45 NA 198.72 198.720 20.32 1.548 NA
FSLA First Savings Bank (MHC) 32.500 236.07 24.62 41.67 242.72 272.190 22.86 1.477 51.51
FSNJ Bayonne Bancshares Inc. 12.500 112.42 NA NA NA NA NA 1.363 NA
FSPG First Home Bancorp Inc. 20.125 54.51 12.27 12.42 156.61 159.220 10.43 1.988 24.07
FSPT FirstSpartan Financial Corp. 35.375 156.72 NA NA NA NA NA 0.000 NA
FSSB First FS&LA of San Bernardino 9.625 3.16 NA NA 70.36 73.030 3.05 0.000 0.00
FSTC First Citizens Corp. 32.000 58.85 4.88 11.35 177.88 228.730 17.31 1.375 15.60
FTF Texarkana First Financial Corp 24.625 44.09 13.10 17.97 163.84 163.840 25.73 2.274 253.83
FTFC First Federal Capital Corp. 23.750 217.51 14.14 20.30 214.35 227.930 13.81 2.021 37.62
FTNB Fulton Bancorp Inc. 21.500 36.96 38.39 NA 148.58 148.580 37.17 0.930 NA
FTSB Fort Thomas Financial Corp. 11.750 16.66 12.77 36.72 112.98 112.980 18.12 2.128 NA
FWWB First SB of Washington Bancorp 24.625 258.34 18.66 23.68 157.05 170.060 24.11 1.137 23.08
GAF GA Financial Inc. 18.375 146.72 17.67 22.97 128.95 130.320 19.57 2.612 38.75
GBCI Glacier Bancorp Inc. 17.875 121.76 13.14 16.25 220.14 225.980 21.45 2.685 40.01
GDVS Greater Delaware Valley (MHC) 24.250 79.36 37.89 105.43 280.67 280.670 32.47 1.485 156.52
3
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Current Price in Relation to
Current Current -------------------------------------------------- Current LTM
Stock Market Tangible Dividend Dividend
Price Value Earnings LTM EPS Book Value Book Value Assets Yield Payout Ratio
Ticker Short Name ($) ($M) (x) (x) (%) (%) (%) (%) (%)
- ------------------------------------------------------------------------------------------------------------------------------------
GDW Golden West Financial 87.375 4,957.53 14.18 13.18 199.03 199.030 12.68 0.504 6.41
GFCO Glenway Financial Corp. 27.750 31.63 13.34 26.18 116.16 117.730 11.02 2.883 63.39
GFED Guaranty Federal SB (MHC) 20.125 62.89 31.45 54.39 228.69 228.690 31.51 2.186 102.70
GFSB GFS Bancorp Inc. 14.250 14.08 11.88 16.76 133.68 133.680 15.30 1.825 25.29
GOSB GSB Financial Corp. 14.500 32.60 NA NA NA NA NA 0.000 NA
GPT GreenPoint Financial Corp. 63.125 2,734.13 18.35 18.57 184.20 327.580 21.38 1.584 26.47
GRTR Greater New York Savings Bank 23.125 317.21 28.91 27.53 196.98 196.980 12.30 0.865 17.86
GSB Golden State Bancorp Inc. 30.688 1,545.10 21.92 49.50 196.34 220.940 9.53 0.000 0.00
GSBC Great Southern Bancorp Inc. 17.625 142.85 11.91 16.02 236.58 236.580 20.18 2.270 35.23
GSFC Green Street Financial Corp. 18.625 80.05 27.39 31.57 126.44 126.440 45.85 2.362 94.92
GSLA GS Financial Corp. 16.000 55.02 NA NA 97.80 97.800 44.64 1.750 NA
GTFN Great Financial Corporation 35.625 491.78 15.63 22.84 174.63 182.320 16.13 1.684 32.69
GTPS Great American Bancorp 17.750 31.24 40.34 93.42 96.68 96.680 22.81 2.254 210.53
GUPB GFSB Bancorp Inc. 18.750 15.08 22.32 27.99 111.08 111.080 18.11 2.133 111.94
GWBC Gateway Bancorp Inc. 17.938 19.30 32.03 35.17 111.76 111.760 30.23 2.230 78.43
HALL Hallmark Capital Corp. 22.000 31.74 10.78 16.54 107.00 107.000 7.75 0.000 0.00
HARB Harbor Florida Bancorp (MHC) 58.219 289.36 21.40 28.54 308.85 319.360 25.91 2.405 63.73
HARL Harleysville Savings Bank 25.750 42.55 12.15 18.13 193.46 193.460 12.64 1.553 25.92
HARS Harris Savings Bank (MHC) 44.375 498.01 24.65 55.47 304.15 347.770 24.36 1.307 72.5
HAVN Haven Bancorp Inc. 39.125 171.50 19.56 19.37 161.67 162.280 9.61 1.534 29.70
HBBI Home Building Bancorp 20.500 6.39 17.08 60.29 101.69 101.690 14.18 1.463 88.24
HBEI Home Bancorp of Elgin Inc. 18.000 123.40 40.91 NA 131.10 131.100 35.00 2.222 NA
HBFW Home Bancorp 22.500 56.81 18.15 29.61 127.70 127.700 16.96 0.889 26.32
HBNK Highland Federal Bank FSB 30.250 69.58 13.04 32.18 184.56 184.560 13.80 0.000 0.00
HBS Haywood Bancshares Inc. 19.000 23.76 14.39 21.35 113.37 117.570 15.79 2.947 61.80
HCBB HCB Bancshares Inc. 13.750 36.37 NA NA NA NA NA 0.000 NA
HCFC Home City Financial Corp. 15.500 14.76 19.38 NA 96.57 96.570 21.63 2.065 NA
HEMT HF Bancorp Inc. 15.125 95.01 NA NA 117.25 NA 9.65 0.000 0.00
HFFB Harrodsburg First Fin Bancorp 15.250 30.88 19.06 25.85 97.26 97.260 28.34 2.623 93.22
HFFC HF Financial Corp. 24.250 72.25 12.63 20.38 136.39 136.390 12.86 1.732 30.25
HFGI Harrington Financial Group 12.500 40.71 22.32 20.49 162.97 162.970 9.11 0.960 4.92
HFNC HFNC Financial Corp. 16.375 281.53 31.49 35.60 174.76 174.760 31.44 1.710 NA
HFSA Hardin Bancorp Inc. 16.875 14.50 15.07 28.13 107.62 107.620 13.42 2.844 70.00
HHFC Harvest Home Financial Corp. 12.000 10.98 15.79 46.15 106.10 106.100 12.53 3.333 NA
HIFS Hingham Instit. for Savings 24.750 32.26 12.13 13.31 158.45 158.450 14.83 1.939 26.88
HMCI HomeCorp Inc. 16.750 28.36 16.11 72.83 130.76 130.760 8.55 0.000 0.00
HMLK Hemlock Federal Financial Corp 15.313 31.79 NA NA 105.10 105.100 19.28 1.567 NA
HMNF HMN Financial Inc. 24.625 103.72 18.11 24.63 126.80 126.800 18.30 0.000 0.00
HOMF Home Federal Bancorp 31.000 105.29 13.14 15.82 181.82 187.650 15.42 1.613 20.83
HPBC Home Port Bancorp Inc. 22.875 42.13 12.71 13.22 200.83 200.830 21.20 3.497 46.24
HRBF Harbor Federal Bancorp Inc. 19.750 33.45 19.75 32.92 119.84 119.840 15.46 2.025 66.67
HRZB Horizon Financial Corp. 15.500 114.96 14.35 14.49 142.07 142.070 22.17 2.581 62.18
HTHR Hawthorne Financial Corp. 17.375 52.72 7.90 NA 132.94 132.940 6.11 0.000 0.00
HVFD Haverfield Corp. 27.938 53.58 14.86 27.39 180.13 180.130 15.39 2.004 53.92
HWEN Home Financial Bancorp 16.438 7.72 20.55 NA 107.23 107.230 18.16 1.217 NA
HZFS Horizon Financial Svcs Corp. 18.875 8.03 20.52 27.76 95.47 95.470 9.34 1.695 47.06
IBSF IBS Financial Corp. 17.250 190.00 28.75 50.74 148.84 148.840 25.90 2.319 143.76
IFSB Independence Federal Svgs Bank 14.000 17.94 6.86 21.21 100.79 114.010 6.94 1.571 33.33
INBI Industrial Bancorp 15.250 80.47 14.66 32.45 131.13 131.130 23.22 3.148 68.09
INCB Indiana Community Bank SB 15.750 14.52 26.25 105.00 128.36 128.360 15.90 2.286 NA
IPSW Ipswich Savings Bank 13.250 31.48 7.53 8.23 145.44 145.440 8.31 0.906 13.04
ISBF ISB Financial Corporation 25.500 175.97 23.61 31.10 144.80 170.230 18.58 1.569 45.12
ITLA ITLA Capital Corp. 18.250 143.18 12.01 12.85 153.10 153.750 16.82 0.000 0.00
IWBK InterWest Bancorp Inc. 39.500 317.42 15.67 21.94 255.50 261.070 17.32 1.519 31.11
JOAC Joachim Bancorp Inc. 14.625 10.57 33.24 66.48 107.38 107.380 30.24 3.419 227.27
JSB JSB Financial Inc. 47.313 467.17 17.14 17.72 133.13 133.130 30.42 2.959 48.69
4
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Current Price in Relation to
Current Current -------------------------------------------------- Current LTM
Stock Market Tangible Dividend Dividend
Price Value Earnings LTM EPS Book Value Book Value Assets Yield Payout Ratio
Ticker Short Name ($) ($M) (x) (x) (%) (%) (%) (%) (%)
- ------------------------------------------------------------------------------------------------------------------------------------
JSBA Jefferson Savings Bancorp 35.375 177.06 15.79 37.63 147.64 190.290 13.70 1.131 38.30
JXSB Jacksonville Savings Bk (MHC) 22.500 28.63 31.25 66.18 167.66 167.660 17.59 1.778 117.65
JXVL Jacksonville Bancorp Inc. 16.875 41.61 10.29 21.92 124.54 124.540 18.58 2.963 64.94
KFBI Klamath First Bancorp 19.875 199.12 22.59 34.27 127.65 127.650 27.35 1.509 50.00
KNK Kankakee Bancorp Inc. 30.125 42.93 15.06 19.69 113.29 120.550 12.57 1.593 28.76
KSAV KS Bancorp Inc. 18.500 16.38 12.17 17.96 114.13 114.200 15.43 3.243 87.38
KSBK KSB Bancorp Inc. 12.500 15.48 10.42 10.87 147.75 156.250 10.61 0.640 9.27
KYF Kentucky First Bancorp Inc. 12.750 16.82 15.94 21.25 114.25 114.250 18.91 3.922 583.33
LARK Landmark Bancshares Inc. 27.250 46.62 19.46 25.71 148.18 148.180 20.44 1.468 37.74
LARL Laurel Capital Group Inc. 23.500 33.91 11.99 15.88 159.43 159.430 16.00 2.213 29.73
LFBI Little Falls Bancorp Inc. 16.875 44.01 23.44 54.44 116.30 125.930 15.44 1.185 25.81
LFCO Life Financial Corp. 18.000 110.01 9.57 NA 263.54 263.540 56.34 0.000 NA
LFED Leeds Federal Savings Bk (MHC) 30.250 104.51 30.25 47.27 228.99 228.990 37.07 2.512 107.81
LIFB Life Bancorp Inc. 24.563 241.87 18.61 23.39 154.10 158.680 16.25 1.954 42.86
LISB Long Island Bancorp Inc. 44.250 1,060.60 20.87 30.31 199.59 201.590 17.95 1.356 37.67
LOGN Logansport Financial Corp. 15.250 19.22 15.89 20.89 120.46 120.460 23.12 2.623 465.75
LONF London Financial Corporation 15.000 7.65 22.06 28.85 102.74 102.740 20.21 1.600 46.15
LSBI LSB Financial Corp. 22.250 20.39 13.57 13.91 112.37 112.370 10.68 1.528 19.35
LSBX Lawrence Savings Bank 11.938 51.14 9.33 8.78 160.24 160.240 13.93 0.000 0.00
LVSB Lakeview Financial 35.250 79.93 16.32 14.04 177.05 221.420 16.85 0.709 9.51
LXMO Lexington B&L Financial Corp. 16.000 18.22 18.18 28.07 108.62 108.620 30.75 1.875 26.32
MAFB MAF Bancorp Inc. 31.750 488.94 12.40 18.25 189.10 216.430 14.71 0.882 14.37
MARN Marion Capital Holdings 23.500 41.55 14.69 18.08 106.38 106.380 23.97 3.745 63.08
MASB MASSBANK Corp. 52.500 141.00 14.75 14.75 146.16 146.160 15.55 2.438 28.65
MBB MSB Bancorp Inc. 23.688 67.37 21.15 60.74 112.00 228.210 8.28 2.533 153.85
MBBC Monterey Bay Bancorp Inc. 16.625 53.91 34.64 55.42 107.54 116.670 13.06 0.722 33.33
MBLF MBLA Financial Corp. 23.250 30.19 18.16 22.36 105.78 105.780 12.86 1.720 38.46
MBSP Mitchell Bancorp Inc. 17.125 15.94 28.54 NA 111.27 111.270 48.25 2.336 NA
MCBN Mid-Coast Bancorp Inc. 25.000 5.81 12.76 23.15 113.12 113.120 9.73 2.080 48.15
MCBS Mid Continent Bancshares Inc. 37.750 73.92 16.00 20.08 189.41 189.410 18.09 1.060 21.28
MDBK Medford Savings Bank 32.250 146.45 12.40 13.72 151.84 162.960 13.65 2.233 36.17
MECH Mechanics Savings Bank 24.125 127.62 4.40 8.55 151.44 151.440 15.50 0.000 0.00
MERI Meritrust Federal SB 43.875 33.97 12.32 23.09 181.23 181.230 14.87 1.595 35.53
METF Metropolitan Financial Corp. 18.125 63.90 12.25 26.27 196.58 217.330 7.78 0.000 0.00
MFBC MFB Corp. 23.000 38.87 19.17 30.26 114.71 114.710 15.66 1.391 39.47
MFCX Marshalltown Financial Corp. 16.750 23.64 29.91 57.76 117.79 117.790 18.54 0.000 0.00
MFFC Milton Federal Financial Corp. 14.125 32.56 22.07 33.63 115.21 115.210 16.32 4.248 730.95
MFLR Mayflower Co-operative Bank 19.750 17.59 13.34 14.21 144.48 146.950 13.99 3.443 38.85
MFSL Maryland Federal Bancorp 45.500 146.06 15.80 21.06 150.56 152.480 12.62 1.758 33.43
MGNL Magna Bancorp Inc. 27.000 371.37 16.46 20.15 268.39 275.790 27.44 2.222 44.78
MIFC Mid-Iowa Financial Corp. 9.625 16.14 8.30 13.75 137.50 137.700 12.85 0.831 11.43
MIVI Mississippi View Holding Co. 15.875 13.00 15.26 26.46 98.66 98.660 18.63 1.008 26.67
MLBC ML Bancorp Inc. 20.625 217.93 15.63 16.37 150.77 153.460 10.52 1.939 30.56
MONT Montgomery Financial Corp. 12.000 19.84 NA NA NA NA NA 0.000 NA
MRKF Market Financial Corp. 14.188 18.95 27.28 NA 95.67 95.670 33.49 1.973 NA
MSBF MSB Financial Inc. 13.500 16.86 14.06 20.15 132.74 132.740 22.57 2.074 38.43
MSBK Mutual Savings Bank FSB 13.000 55.56 108.33 72.22 135.84 135.840 8.25 0.000 0.00
MWBI Midwest Bancshares Inc. 36.000 12.25 11.54 21.30 123.88 123.880 8.56 1.667 34.32
MWBX MetroWest Bank 6.688 93.32 11.94 13.11 221.46 221.460 16.47 1.794 31.37
MWFD Midwest Federal Financial 21.250 34.59 12.07 16.35 189.56 196.580 16.70 1.600 24.62
NASB North American Savings Bank 52.000 116.29 10.48 12.84 204.97 212.070 15.74 1.538 17.60
NBN Northeast Bancorp 16.938 21.89 14.60 23.53 125.56 145.270 8.72 1.889 44.44
NBSI North Bancshares Inc. 22.500 22.11 31.25 39.47 132.67 132.670 18.75 2.133 77.19
NEIB Northeast Indiana Bancorp 17.000 29.97 13.28 17.00 111.92 111.920 17.00 1.882 31.50
NHTB New Hampshire Thrift Bncshrs 19.625 40.51 14.43 37.74 166.60 195.660 12.75 2.548 96.15
NASB NewMil Bancorp Inc. 13.000 49.84 20.31 21.31 157.19 157.190 15.43 1.846 37.70
5
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Current Price in Relation to
Current Current -------------------------------------------------- Current LTM
Stock Market Tangible Dividend Dividend
Price Value Earnings LTM EPS Book Value Book Value Assets Yield Payout Ratio
Ticker Short Name ($) ($M) (x) (x) (%) (%) (%) (%) (%)
- ------------------------------------------------------------------------------------------------------------------------------------
NSLB NS&L Bancorp Inc. 18.750 13.27 24.67 42.61 113.57 113.570 22.22 2.667 113.64
NSSB Norwich Financial Corp. 27.875 150.89 19.91 20.20 189.63 210.060 21.17 2.009 43.48
NSSY Norwalk Savings Society 36.500 87.97 19.01 15.73 169.45 175.140 13.25 1.096 10.78
NTMG Nutmeg Federal S&LA 11.000 8.12 22.92 50.00 142.49 142.490 7.93 0.000 34.09
NWEQ Northwest Equity Corp. 16.125 13.52 12.22 17.53 113.32 113.320 13.96 3.225 46.74
NWSB Northwest Savings Bank (MHC) 25.500 596.09 28.98 43.22 300.35 319.150 28.50 1.255 54.24
NYB New York Bancorp Inc. 31.125 672.03 13.42 16.73 402.65 402.650 20.47 1.928 25.54
OCFC Ocean Financial Corp. 34.250 280.02 19.46 NA 125.23 125.230 20.35 2.336 NA
OCN Ocwen Financial Corp. 43.625 1,169.13 15.81 16.65 479.40 502.010 41.95 0.000 0.00
OFCP Ottawa Financial Corp. 25.750 126.51 16.51 31.79 168.19 209.520 14.68 1.553 45.68
OHSL OHSL Financial Corp. 24.125 28.85 14.36 22.55 113.74 113.740 12.54 3.648 76.64
PALM Palfed Inc. 17.875 94.45 16.55 162.50 172.37 172.370 14.21 0.671 90.91
PAMM PacificAmerica Money Center 22.750 86.44 3.35 5.85 147.25 147.250 31.75 0.000 0.00
PBCI Pamrapo Bancorp Inc. 21.500 61.12 12.22 19.72 129.36 130.380 16.48 4.651 87.16
PBCT People's Bank (MHC) 29.375 1,793.44 20.40 21.29 268.76 269.000 22.79 2.315 43.00
PBHC Oswego City Savings Bk (MHC) 19.500 37.37 14.34 23.78 166.95 200.620 19.58 1.436 26.83
PBKB People's Bancshares Inc. 16.750 54.40 11.96 13.19 179.91 186.940 10.28 2.627 27.56
PCBC Perry County Financial Corp. 21.250 17.59 17.71 22.14 112.97 112.970 21.69 1.882 41.67
PCCI Pacific Crest Capital 15.250 44.81 12.71 14.12 170.39 170.390 12.07 0.000 0.00
PDB Piedmont Bancorp Inc. 10.625 29.23 20.43 NA 143.19 143.190 23.81 3.765 NA
PEEK Peekskill Financial Corp. 16.375 52.29 24.08 29.24 111.32 111.320 28.64 2.198 64.29
PERM Permanent Bancorp Inc. 23.750 49.89 18.55 35.45 120.31 122.110 11.02 1.684 44.78
PERT Perpetual Bank (MHC) 53.000 79.74 30.11 44.92 263.16 263.160 31.12 2.642 135.59
PETE Primary Bank 26.875 56.13 NA 22.40 187.54 187.810 13.00 0.000 0.00
PFDC Peoples Bancorp 25.500 57.99 13.28 18.48 132.61 132.610 20.16 2.353 43.48
PFED Park Bancorp Inc. 17.000 41.33 21.25 NA 104.49 104.490 23.54 0.000 NA
PFFB PFF Bancorp Inc. 19.750 353.59 23.51 85.87 136.11 137.530 14.05 0.000 0.00
PFFC Peoples Financial Corp. 16.875 24.73 30.13 NA 106.94 106.940 29.09 2.963 NA
PFNC Progress Financial Corp. 14.375 57.57 16.34 28.19 246.57 279.130 13.10 0.796 15.69
PFSB PennFed Financial Services Inc 30.000 144.66 13.64 20.83 137.43 164.290 10.94 0.933 14.58
PFSL Pocahontas FS&LA (MHC) 28.500 46.52 18.75 20.96 193.09 193.090 12.29 3.158 63.97
PHBK Peoples Heritage Finl Group 39.500 1,084.56 15.43 16.26 250.48 297.220 19.34 1.924 28.81
PHFC Pittsburgh Home Financial Corp 18.938 37.30 15.78 26.30 133.27 134.790 14.55 1.267 38.89
PHSB Peoples Home Savings Bk (MHC) 16.375 39.30 NA NA NA NA NA 0.000 NA
PKPS Poughkeepsie Financial Corp. 7.875 99.18 21.88 35.80 134.62 134.620 11.27 1.270 45.45
PLSK Pulaski Savings Bank (MHC) 17.375 35.97 NA NA 170.34 170.340 20.28 1.727 NA
PMFI Perpetual Midwest Financial 20.875 39.30 20.07 86.98 115.97 115.970 9.89 1.437 125.00
PRBC Prestige Bancorp Inc. 17.000 15.55 15.74 33.33 102.97 102.970 11.46 0.706 11.76
PROV Provident Financial Holdings 19.938 98.10 20.77 48.63 114.78 114.780 15.94 0.000 0.00
PSBK Progressive Bank Inc. 32.750 125.14 14.12 14.36 166.50 186.400 14.24 2.076 26.61
PSFC Peoples-Sidney Financial Corp. 16.250 29.01 NA NA NA NA NA 1.231 NA
PSFI PS Financial Inc. 15.500 33.82 18.45 NA 105.73 105.730 40.92 2.065 NA
PTRS Potters Financial Corp. 24.750 12.16 9.98 21.52 112.65 112.650 9.94 1.455 25.22
PULB Pulaski Bank, Svgs Bank (MHC) 26.375 55.23 25.36 45.47 234.86 234.860 30.64 3.791 172.41
PULS Pulse Bancorp 21.500 66.23 11.44 18.38 157.74 157.740 12.69 3.256 59.83
PVFC PVF Capital Corp. 20.500 52.39 11.39 14.64 209.4 209.400 14.71 0.000 0.00
PVSA Parkvale Financial Corporation 30.250 122.67 12.20 18.22 163.16 164.400 12.38 1.719 31.33
PWBC PennFirst Bancorp Inc. 15.625 82.90 14.47 21.70 125.60 134.350 10.15 2.094 47.72
PWBK Pennwood Bancorp Inc. 16.750 9.71 24.63 NA 111.30 111.300 19.42 1.910 NA
QCBC Quaker City Bancorp Inc. 20.750 97.59 16.21 34.02 138.89 138.980 12.18 0.000 0.00
QCFB QCF Bancorp Inc. 25.000 35.66 13.89 17.12 131.72 131.720 23.83 0.000 0.00
QCSB Queens County Bancorp Inc. 54.125 549.64 25.06 26.15 272.95 272.950 37.56 1.848 33.82
RARB Raritan Bancorp Inc. 24.000 57.88 15.38 17.02 192.31 195.440 15.26 2.000 30.74
RCSB RCSB Financial Inc. 51.500 756.70 23.41 20.68 240.43 246.410 18.31 1.165 22.89
REDF RedFed Bancorp Inc. 17.375 124.65 13.16 157.95 161.63 162.230 13.66 0.000 0.00
RELI Reliance Bancshares Inc. 8.500 21.49 106.25 34.00 93.61 93.610 45.72 0.000 NA
6
--------------------------------------------------
Current Price in Relation to
Current Current -------------------------------------------------- Current LTM
Stock Market Tangible Dividend Dividend
Price Value Earnings LTM EPS Book Value Book Value Assets Yield Payout Ratio
Ticker Short Name ($) ($M) (x) (x) (%) (%) (%) (%) (%)
- ------------------------------------------------------------------------------------------------------------------------------------
RELY Reliance Bancorp Inc. 32.000 280.84 16.67 26.45 172.60 239.520 14.21 2.000 49.59
RIVR River Valley Bancorp 16.500 19.64 13.75 NA 112.86 114.580 13.98 0.970 NA
ROSE TR Financial Corp. 27.000 475.30 14.06 14.75 200.74 200.740 13.32 2.222 23.50
RSLN Roslyn Bancorp Inc. 22.750 992.87 21.88 NA 156.04 156.790 31.43 1.055 NA
RVSB Riverview Savings Bank (MHC) 27.750 67.11 22.38 31.53 260.07 284.910 29.22 0.865 24.38
SBFL SB of the Finger Lakes (MHC) 25.000 44.63 52.08 166.67 214.96 214.960 20.59 1.600 266.67
SBOS Boston Bancorp (The) NA NA NA NA NA NA NA NA 10.89
SCBS Southern Community Bancshares 15.875 18.06 18.90 NA 120.36 120.360 25.66 1.890 NA
SCCB S. Carolina Community Bancshrs 23.500 16.55 32.64 43.52 137.35 137.350 35.66 2.553 111.11
SECP Security Capital Corp. 105.750 973.78 17.06 22.12 173.90 173.900 26.51 1.135 20.40
SFED SFS Bancorp Inc. 19.750 24.31 21.47 30.86 113.25 113.250 14.12 1.418 39.06
SFFC StateFed Financial Corporation 22.000 17.24 12.79 18.33 113.17 113.170 20.12 1.818 33.33
SFIN Statewide Financial Corp. 19.688 92.74 14.92 23.72 141.64 141.950 13.78 2.235 48.19
SFNB Security First Network Bank 12.000 103.44 NA NA 397.35 404.040 131.58 0.000 0.00
SFSB SuburbFed Financial Corp. 27.500 34.71 13.22 23.71 125.46 125.920 8.13 1.164 27.59
SFSL Security First Corp. 17.750 134.58 17.07 21.91 218.60 222.150 20.58 1.803 37.02
SGVB SGV Bancorp Inc. 15.250 35.72 17.33 47.66 119.42 121.420 8.73 0.000 0.00
SHEN First Shenango Bancorp Inc. 27.875 57.76 12.02 16.79 128.16 128.160 14.04 2.152 30.72
SISB SIS Bancorp Inc. 31.000 172.88 14.62 9.34 169.31 169.310 12.05 1.806 7.23
SKAN Skaneateles Bancorp Inc. 23.250 22.19 12.37 13.21 130.69 134.860 8.95 1.720 20.45
SKBO First Carnegie Deposit (MHC) 16.000 36.80 NA NA 152.09 152.090 25.01 1.875 NA
SMBC Southern Missouri Bancorp Inc. 17.125 28.05 16.47 23.78 108.04 108.040 16.93 2.920 69.44
SMFC Sho-Me Financial Corp. 39.000 58.45 13.18 19.12 180.39 180.390 17.78 0.000 0.00
SOBI Sobieski Bancorp Inc. 16.250 12.59 29.02 50.78 94.26 94.260 15.40 1.969 43.75
SOPN First Savings Bancorp Inc. 20.250 74.50 15.82 20.66 110.90 110.900 25.32 3.951 75.51
SOSA Somerset Savings Bank 3.906 65.04 9.77 15.62 199.29 199.290 12.64 0.000 0.00
SPBC St. Paul Bancorp Inc. 24.125 819.96 16.75 27.11 206.73 207.260 17.78 1.658 32.36
SRN Southern Banc Company Inc. 16.250 19.99 33.85 70.65 112.69 113.880 19.04 2.154 228.26
SSB Scotland Bancorp Inc 19.250 36.84 32.08 33.77 143.12 143.120 53.02 1.558 52.63
SSFC South Street Financial Corp. 18.500 83.19 25.69 NA 125.94 125.940 34.41 2.162 NA
SSM Stone Street Bancorp Inc. 21.438 40.69 38.28 25.52 132.91 132.910 38.34 2.099 542.26
STFR St. Francis Capital Corp. 37.250 197.54 13.50 21.16 154.05 174.310 12.02 1.289 26.14
STND Standard Financial Inc. 25.620 415.31 21.35 33.71 149.74 150.000 16.13 1.561 47.37
STSA Sterling Financial Corp. 20.250 112.72 16.88 96.43 166.39 190.860 6.68 0.000 0.00
SVRN Sovereign Bancorp Inc. 15.594 1,388.65 14.44 23.99 227.65 302.210 10.02 0.513 12.00
SWBI Southwest Bancshares 20.250 53.67 13.68 20.05 129.15 129.150 14.20 3.753 74.26
SWCB Sandwich Co-operative Bank 36.000 68.95 15.52 15.79 172.83 180.540 13.74 3.333 50.44
SZB SouthFirst Bancshares Inc. 16.000 13.56 26.67 NA 99.63 99.630 13.94 3.125 NA
TBK Tolland Bank 17.875 27.89 14.90 16.71 168.63 173.540 11.71 1.119 9.11
THR Three Rivers Financial Corp. 16.125 13.28 17.53 25.60 105.88 106.300 14.57 2.481 52.38
THRD TF Financial Corporation 20.500 83.70 16.53 24.40 108.70 123.940 13.06 1.951 42.86
TPNZ Tappan Zee Financial Inc. 17.375 26.01 24.13 28.96 123.14 123.140 20.95 1.612 33.33
TRIC Tri-County Bancorp Inc. 23.500 14.31 14.69 21.17 104.40 104.400 15.99 2.553 49.55
TSBS Peoples Bancorp Inc. (MHC) 30.000 271.11 30.00 34.88 254.45 277.260 42.97 1.167 40.70
TSH Teche Holding Co. 18.375 63.16 16.41 22.14 118.32 118.320 15.55 2.721 60.24
TWIN Twin City Bancorp 20.250 17.28 15.82 29.78 125.23 125.230 16.10 3.160 94.12
UBMT United Financial Corp. 24.000 29.36 19.35 25.81 119.40 119.400 27.80 4.083 100.00
UFRM United Federal Savings Bank 11.500 35.35 20.54 60.53 171.64 171.640 12.83 2.087 110.53
USAB USABancshares, Inc. 8.250 6.06 14.73 30.56 128.11 130.540 12.54 0.000 0.00
VABF Virginia Beach Fed. Financial 14.000 69.67 17.50 53.85 164.71 164.710 11.28 1.429 69.23
VFFC Virginia First Financial Corp. 23.938 139.02 15.75 13.30 210.91 218.410 17.00 0.418 5.56
WAMU Washington Mutual Inc. 63.938 16,113.22 16.65 55.12 310.38 327.050 16.57 1.689 84.48
WAYN Wayne Savings & Loan Co. (MHC) 22.500 50.58 25.57 66.18 215.31 215.310 19.90 2.756 180.85
WBST Webster Financial Corp. 56.000 759.43 14.29 28.57 224.81 263.160 11.29 1.429 37.76
WCBI Westco Bancorp 26.500 65.62 15.41 20.87 138.16 138.160 21.06 2.264 44.88
WCFB Webster City Federal SB (MHC) 17.750 37.28 27.73 36.22 168.41 168.410 39.37 4.507 163.27
7
--------------------------------------------------
Current Price in Relation to
Current Current -------------------------------------------------- Current LTM
Stock Market Tangible Dividend Dividend
Price Value Earnings LTM EPS Book Value Book Value Assets Yield Payout Ratio
Ticker Short Name ($) ($M) (x) (x) (%) (%) (%) (%) (%)
- ------------------------------------------------------------------------------------------------------------------------------------
WEFC Wells Financial Corp. 16.500 32.33 14.73 22.30 112.78 112.780 16.00 2.909 0.00
WEHO Westwood Homestead Fin. Corp. 15.500 43.33 32.29 NA 109.39 109.390 32.18 1.806 NA
WES Westcorp 21.813 571.39 14.35 19.65 171.62 172.030 15.53 1.834 36.04
WFI Winton Financial Corp. 16.250 32.27 10.16 14.13 143.05 146.130 10.17 2.831 38.26
WFSG Wilshire Financial Services 21.750 164.65 8.24 NA 238.75 238.750 13.77 0.000 NA
WFSL Washington Federal Inc. 27.750 1,317.25 12.39 14.16 189.29 207.240 22.86 3.315 44.76
WHGB WHG Bancshares Corp. 15.750 23.03 23.16 45.00 111.23 111.230 22.97 1.270 42.86
WOFC Western Ohio Financial Corp. 24.250 56.72 30.31 42.54 103.72 111.240 14.31 4.124 175.44
WRNB Warren Bancorp Inc. 18.250 69.13 11.13 9.46 185.85 185.850 19.28 2.849 43.01
WSB Washington Savings Bank, FSB 7.250 30.79 18.13 25.89 143.56 143.560 11.92 1.379 35.71
WSFS WSFS Financial Corporation 15.313 190.21 11.60 11.10 242.29 244.230 12.61 0.000 0.00
WSTR WesterFed Financial Corp. 22.500 125.21 14.80 23.44 120.06 150.100 13.10 1.956 44.06
WVFC WVS Financial Corp. 27.875 48.71 13.94 16.49 148.11 148.110 16.53 2.870 177.51
WWFC Westwood Financial Corporation 21.250 13.71 14.36 27.24 134.84 151.350 12.31 0.941 25.64
WYNE Wayne Bancorp Inc. 24.750 49.84 22.92 46.70 150.55 150.550 20.10 0.808 18.87
YFCB Yonkers Financial Corporation 19.875 60.04 18.40 25.48 140.56 140.560 20.94 1.208 25.64
YFED York Financial Corp. 24.125 169.08 15.87 24.37 168.94 168.940 14.55 2.487 59.23
Count 404 381 338 395 393 395 338 294
8
--------------------------------------------------
Current Price in Relation to
Current Current -------------------------------------------------- Current LTM
Stock Market Tangible Dividend Dividend
Price Value Earnings LTM EPS Book Value Book Value Assets Yield Payout Ratio
Ticker Short Name ($) ($M) (x) (x) (%) (%) (%) (%) (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Delaware
WSFS WSFS Financial Corporation 15.313 190.21 11.60 11.1 242.29 244.230 12.61 0.000 0.00
Count 1 1 1 1 1 1 1 0 0
9
--------------------------------------------------
Current Price in Relation to
Current Current -------------------------------------------------- Current LTM
Stock Market Tangible Dividend Dividend
Price Value Earnings LTM EPS Book Value Book Value Assets Yield Payout Ratio
Ticker Short Name ($) ($M) (x) (x) (%) (%) (%) (%) (%)
- ------------------------------------------------------------------------------------------------------------------------------------
Comparable Group
ALBC Albion Banc Corp. 23.250 5.81 29.06 86.11 97.04 97.040 8.47 1.376 114.81
ATSB AmTrust Capital Corp. 12.750 6.71 21.25 28.98 92.93 93.960 9.45 1.569 11.36
FFDF FFD Financial Corp. 14.750 21.46 26.34 NA 101.65 101.650 25.16 2.034 NA
HFFB Harrodsburg First Fin Bancorp 15.250 30.88 19.06 25.85 97.26 97.260 28.34 2.623 93.22
HZSF Horizon Financial Svcs Corp. 18.875 8.03 20.52 27.76 95.47 95.470 9.34 1.695 47.06
LXMO Lexington B&L Financial Corp. 16.000 18.22 18.18 28.07 108.62 108.620 30.75 1.875 26.32
NBSI North Bancshares Inc. 22.500 22.11 31.25 39.47 132.67 132.670 18.75 2.133 77.19
LSBX Lawrence Savings Bank 11.938 51.14 9.33 8.78 160.24 160.240 13.93 0.000 0.00
PRBC Prestige Bancorp Inc. 17.000 15.55 15.74 33.33 102.97 102.970 11.46 0.706 11.76
SOBI Sobieski Bancorp Inc. 16.250 12.59 29.02 50.78 94.26 94.260 15.40 1.969 43.75
SZB SouthFirst Bancshares Inc. 16.000 13.56 26.67 NA 99.63 99.630 13.94 3.125 NA
11 11 9 11 11 11 11 11
Comparable Average 18.73 22.40 36.57 107.52 107.620 16.82 1.740 38.68
Comparable Median 15.55 21.25 28.98 99.63 99.630 13.94 1.880 43.75
All Public Average 217.44 18.99 29.59 154.36 160.810 17.84 1.980 65.77
All Public Median 54.77 16.25 23.05 142.29 145.440 15.50 1.680 35.34
Delaware Average 190.21 11.60 11.10 242.29 244.230 12.61 0.000 0.00
Delaware Median 190.21 11.60 11.10 242.29 244.230 12.61 0.000 0.00
10
Exhibit 7
Standard Conversions - 1996 to Date
Selected Market Data
Market Data as of 9/08/97
------------------------------------------
Price to Pro-Forma
Pro-Forma ------------------------------------------
Gross Conversion Total Pro-Forma Pro-Forma Pro-Forma Adjusted
IPO Price Proceeds Assets Equity Book Value Tang. Book Earnings Assets
Ticker Short Name IPO Date ($) ($000) ($000) ($000) (%) (%) (x) (%)
- ------------------------------------------------------------------------------------------------------------------------------------
FSPT FirstSpartan Financial Corp. 07/09/97 20.000 88,608 375,526 121,408 73.0 73.0 26.0 19.1
GOSB GSB Financial Corp. 07/09/97 10.000 22,483 96,323 30,613 73.4 73.4 23.2 18.9
FBNW FirstBank Corp. 07/02/97 10.000 19,838 133,194 27,578 71.9 71.9 19.2 13.0
CFBC Community First Banking Co. 07/01/97 20.000 48,271 352,532 66,357 72.7 72.7 36.1 12.0
--------------------------------------------------------------------------------------------------------------------------
Q3 '97 Average 72.8 72.8 26.1 15.8
Median 72.9 72.9 24.6 16.0
--------------------------------------------------------------------------------------------------------------------------
HCBB HCB Bancshares Inc. 05/07/97 10.000 26,450 171,241 36,760 72.0 72.0 29.0 13.4
PSFC Peoples-Sidney Financial Corp. 04/28/97 10.000 17,854 86,882 25,061 71.2 71.2 11.5 17.0
HMLK Hemlock Federal Financial Corp 04/02/97 10.000 20,763 146,595 28,989 71.6 71.6 37.5 12.4
GSLA GS Financial Corp. 04/01/97 10.000 34,385 86,521 53,934 63.8 63.8 38.7 28.4
--------------------------------------------------------------------------------------------------------------------------
Q2 '97 Average 69.7 69.6 29.2 17.8
Median 71.4 71.4 33.3 15.2
--------------------------------------------------------------------------------------------------------------------------
MRKF Market Financial Corp. 03/27/97 10.000 13,357 45,547 18,795 71.1 71.1 26.2 22.7
EFBC Empire Federal Bancorp Inc. 01/27/97 10.000 25,921 86,810 38,067 68.1 68.1 21.5 23.0
FAB FirstFed America Bancorp Inc. 01/15/97 10.000 87,126 723,778 120,969 72.0 72.0 13.6 10.7
RSLN Roslyn Bancorp Inc. 01/13/97 10.000 423,714 1,596,744 588,624 72.0 72.0 9.3 21.0
AFBC Advance Financial Bancorp 01/02/97 10.000 10,845 91,852 15,256 71.1 71.1 16.8 10.6
--------------------------------------------------------------------------------------------------------------------------
Q1 '97 Average 70.9 70.9 17.5 17.6
Median 71.1 71.1 16.8 21.0
--------------------------------------------------------------------------------------------------------------------------
1997 YTD Average 71.1 71.1 23.7 17.1
Median 71.9 71.9 23.2 17.0
--------------------------------------------------------------------------------------------------------------------------
HCFC Home City Financial Corp. 12/30/96 10.000 9,522 55,728 13,373 71.2 71.2 13.7 14.6
CENB Century Bancorp Inc. 12/23/96 50.000 20,367 81,304 28,246 72.1 72.1 18.9 20.0
SCBS Southern Community Bancshares 12/23/96 10.000 11,374 64,381 15,290 74.4 74.4 14.5 15.0
BFFC Big Foot Financial Corp. 12/20/96 10.000 25,128 194,624 34,576 72.7 72.7 33.1 11.4
RIVR River Valley Bancorp 12/20/96 10.000 11,903 86,604 16,314 73.0 73.0 15.2 12.1
PSFI PS Financial Inc. 11/27/96 10.000 21,821 53,520 30,338 71.9 71.9 17.2 29.0
CFNC Carolina Fincorp Inc. 11/25/96 10.000 18,515 94,110 24,052 77.0 77.0 17.2 16.4
DCBI Delphos Citizens Bancorp Inc. 11/21/96 10.000 20,387 88,022 28,226 72.2 72.2 14.6 18.8
FTNB Fulton Bancorp Inc. 10/18/96 10.000 17,193 85,496 23,705 72.5 72.5 14.6 16.7
SSFC South Street Financial Corp. 10/03/96 10.000 44,965 166,978 58,917 76.3 76.3 26.1 21.2
AFED AFSALA Bancorp Inc. 10/01/96 10.000 14,548 133,046 20,281 71.7 71.7 13.7 9.9
--------------------------------------------------------------------------------------------------------------------------
Q4 '96 Average 73.2 73.2 18.1 16.8
Median 72.5 72.5 15.2 16.4
--------------------------------------------------------------------------------------------------------------------------
CBES CBES Bancorp Inc. 09/30/96 10.000 10,250 86,168 16,788 61.1 61.1 13.2 10.6
WEHO Westwood Homestead Fin. Corp. 09/30/96 10.000 28,434 96,638 38,512 73.8 73.8 NA 22.7
HBEI Home Bancorp of Elgin Inc. 09/27/96 10.000 70,093 304,520 96,498 72.6 72.6 24.9 18.7
PFFC Peoples Financial Corp. 09/13/96 10.000 14,910 78,078 23,187 64.3 64.3 28.6 16.0
PFED Park Bancorp Inc. 08/12/96 10.000 27,014 158,939 40,524 66.7 66.7 26.2 14.5
ANA Acadiana Bancshares Inc. 07/16/96 12.000 32,775 225,248 45,564 71.9 71.9 NA 12.7
PWBK Pennwood Bancorp Inc. 07/15/96 10.000 6,101 41,592 9,034 67.5 67.5 14.5 12.8
MBSP Mitchell Bancorp Inc. 07/12/96 10.000 9,799 28,222 13,991 70.0 70.0 NA 25.8
OCFC Ocean Financial Corp. 07/03/96 20.000 167,762 1,036,445 235,685 71.2 71.2 13.4 13.9
HWEN Home Financial Bancorp 07/02/96 10.000 5,059 33,462 7,436 68.0 68.0 11.4 13.1
EGLB Eagle BancGroup Inc. 07/01/96 10.000 13,027 150,974 22,288 58.4 58.4 100.1 7.9
FLKY First Lancaster Bancshares 07/01/96 10.000 9,588 35,361 12,840 74.7 74.7 18.5 21.3
--------------------------------------------------------------------------------------------------------------------------
Q3 '96 Average 68.4 68.4 27.9 15.8
Median 69.0 69.0 18.5 14.2
--------------------------------------------------------------------------------------------------------------------------
PROV Provident Financial Holdings 06/28/96 10.000 51,252 570,691 82,149 62.4 62.4 19.9 8.2
PRBC Prestige Bancorp Inc. 06/27/96 10.000 9,630 91,841 15,172 63.5 63.5 28.8 9.5
WYNE Wayne Bancorp Inc. 06/27/96 10.000 22,314 207,997 35,926 62.1 62.1 18.9 9.7
1
------------------------------------------
Price to Pro-Forma
Pro-Forma ------------------------------------------
Gross Conversion Total Pro-Forma Pro-Forma Pro-Forma Adjusted
IPO Price Proceeds Assets Equity Book Value Tang. Book Earnings Assets
Ticker Short Name IPO Date ($) ($000) ($000) ($000) (%) (%) (x) (%)
- ------------------------------------------------------------------------------------------------------------------------------------
DIME Dime Community Bancorp Inc. 06/26/96 10.000 145,475 665,187 204,706 71.1 71.1 15.5 17.9
MECH Mechanics Savings Bank 06/26/96 10.000 52,900 662,482 73,516 72.0 72.0 NA 7.4
CNSB CNS Bancorp Inc. 06/12/96 10.000 16,531 85,390 23,176 71.3 71.3 24.4 16.2
LXMO Lexington B&L Financial Corp. 06/06/96 10.000 12,650 49,981 17,802 71.1 71.1 20.8 20.2
FFBH First Federal Bancshares of AR 05/03/96 10.000 51,538 454,479 79,239 65.0 65.0 10.5 10.2
CBK Citizens First Financial Corp. 05/01/96 10.000 28,175 227,872 37,414 75.3 75.3 15.7 11.0
RELI Reliance Bancshares Inc. 04/19/96 8.000 20,499 32,260 27,465 74.6 74.6 32.3 38.9
CATB Catskill Financial Corp. 04/18/96 10.000 56,868 230,102 76,844 74.0 74.0 18.6 19.8
YFCB Yonkers Financial Corporation 04/18/96 10.000 35,708 208,283 46,227 77.2 77.2 15.9 14.6
GSFC Green Street Financial Corp. 04/04/96 10.000 42,981 151,028 58,793 73.1 73.1 14.6 22.2
FFDF FFD Financial Corp. 04/03/96 10.000 14,548 58,955 20,239 71.9 71.9 25.4 19.8
AMFC AMB Financial Corp. 04/01/96 10.000 11,241 68,851 15,421 72.9 72.9 17.9 14.0
FBER 1st Bergen Bancorp 04/01/96 10.000 31,740 223,167 41,156 77.1 77.1 21.0 12.5
LONF London Financial Corporation 04/01/96 10.000 5,290 34,152 7,515 70.4 70.4 24.5 13.4
PHFC Pittsburgh Home Financial Corp 04/01/96 10.000 21,821 157,570 29,090 75.0 75.0 17.0 12.2
SSB Scotland Bancorp Inc 04/01/96 10.000 18,400 57,718 23,853 77.1 77.1 16.9 24.2
SSM Stone Street Bancorp Inc. 04/01/96 15.000 27,376 84,996 35,445 77.2 77.2 19.1 24.4
WHGB WHG Bancshares Corp. 04/01/96 10.000 16,201 85,027 22,144 73.2 73.2 15.2 16.0
--------------------------------------------------------------------------------------------------------------------------
Q2 '96 Average 71.8 71.8 19.6 16.3
Median 72.9 72.9 18.8 14.6
--------------------------------------------------------------------------------------------------------------------------
CRZY Crazy Woman Creek Bancorp 03/29/96 10.000 10,580 37,510 14,752 71.7 71.7 15.8 22.0
PFFB PFF Bancorp Inc. 03/29/96 10.000 198,375 1,899,412 279,603 70.9 70.9 25.0 9.5
FCB Falmouth Co-Operative Bank 03/28/96 10.000 14,548 73,735 21,169 68.7 68.7 17.6 16.5
CFTP Community Federal Bancorp 03/26/96 10.000 46,288 162,042 63,020 73.4 73.4 13.6 22.2
GAF GA Financial Inc. 03/26/96 10.000 89,000 476,259 122,643 72.6 72.6 13.5 15.7
BYFC Broadway Financial Corp. 01/09/96 10.000 8,927 102,512 12,768 69.9 69.9 13.0 8.0
LFBI Little Falls Bancorp Inc. 01/05/96 10.000 30,418 196,394 41,370 73.5 73.5 36.4 13.4
--------------------------------------------------------------------------------------------------------------------------
Q1 '96 Average 71.5 71.6 19.3 15.3
Median 71.7 71.7 15.8 15.7
--------------------------------------------------------------------------------------------------------------------------
1996 YTD Average 71.2 71.3 20.8 16.2
Median 72.0 72.0 17.2 15.0
--------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------
1/1/96 to Average 71.2 71.2 21.4 16.4
--------------------------------------------------------------------------------------------------------------------------
9/8/97 Median 72.0 71.9 18.2 15.4
--------------------------------------------------------------------------------------------------------------------------
2
------------------------------- --------------------------------------------------
Percent Change from IPO Current Price to
------------------------------- Current --------------------------------------------------
After After After After Stock Book Tang. LTM Core LTM
1 Day 1 Week 1 Month 3 Months Price Value Book Earnings Earnings EPS EPS Assets
Ticker Short Name (%) (%) (%) (%) 9/8/97 (%) (%) (X) (X) (X) (X) (%)
- ------------------------------------------------------------------------------------------------------------------------------------
FSPT FirstSpartan Financial Corp. 83.44% 85.00% 78.13% NA 35.375 NA NA NA NA NA NA NA
GOSB GSB Financial Corp. 46.25% 48.75% 43.75% NA 14.500 NA NA NA NA NA NA NA
FBNW FirstBank Corp. 58.13% 55.63% 77.50% NA 17.375 NA NA NA NA NA NA NA
CFBC Community First Banking Co. 59.38% 65.00% 70.00% NA 34.375 NA NA NA NA NA NA NA
--------------------------------------------------------------------------------------------------------------------------
Q3 '97 Average 61.80% 63.60% 67.34% 0.00% -- -- -- -- -- -- --
Median 58.75% 60.32% 73.75% 0.00% -- -- -- -- -- -- --
--------------------------------------------------------------------------------------------------------------------------
HCBB HCB Bancshares Inc. 26.25% 27.50% 28.75% 38.75% 13.750 NA NA NA NA NA NA NA
PSFC Peoples-Sidney Financial Corp. 25.63% 28.75% 32.50% 55.00% 16.250 NA NA NA NA NA NA NA
HMLK Hemlock Federal Financial Corp 28.75% 28.75% 30.00% 40.00% 15.313 105.1 105.1 NA NA NA NA 19.3
GSLA GS Financial Corp. 33.75% 37.50% 40.00% 51.25% 16.000 97.8 97.8 NA NA NA NA 44.6
--------------------------------------------------------------------------------------------------------------------------
Q2 '97 Average 28.60% 30.63% 32.81% 46.25% 101.5 101.5 -- -- -- -- 32.0
Median 27.50% 28.75% 31.25% 45.63% 101.5 101.5 -- -- -- -- 32.0
--------------------------------------------------------------------------------------------------------------------------
MRKF Market Financial Corp. 29.38% 22.50% 26.25% 37.50% 14.188 95.7 95.7 NA 27.3 27.3 NA 33.5
EFBC Empire Federal Bancorp Inc. 32.50% 35.00% 37.50% 31.25% 15.750 100.6 100.6 NA 23.2 23.2 NA 37.6
FAB FirstFed America Bancorp Inc. 36.25% 41.25% 48.75% 38.75% 20.250 131.9 131.9 NA 25.3 26.6 NA 17.3
RSLN Roslyn Bancorp Inc. 50.00% 59.38% 60.00% 58.75% 22.750 156.0 156.8 NA 21.9 22.8 NA 31.4
AFBC Advance Financial Bancorp 28.75% 29.38% 40.00% 40.00% 15.750 106.8 106.8 NA NA NA NA 16.5
--------------------------------------------------------------------------------------------------------------------------
Q1 '97 Average 35.38% 37.50% 42.50% 41.25% 118.2 118.4 -- 24.4 25.0 -- 27.3
Median 32.50% 35.00% 40.00% 38.75% 106.8 106.8 -- 24.2 24.9 -- 31.4
--------------------------------------------------------------------------------------------------------------------------
1997 YTD Average 41.42% 43.41% 47.16% 43.47% 113.4 113.5 -- 24.4 25.0 -- 28.6
Median 33.75% 37.50% 40.00% 40.00% 105.1 105.1 -- 24.2 24.9 -- 31.4
--------------------------------------------------------------------------------------------------------------------------
HCFC Home City Financial Corp. NA 25.00% 35.00% 35.00% 15.500 96.6 96.6 NA 19.4 18.5 NA 21.6
CENB Century Bancorp Inc. 25.25% 32.00% 30.25% 36.00% 79.500 108.2 108.2 NA 17.0 16.8 NA 32.4
SCBS Southern Community Bancshares 30.00% 37.50% 35.00% 40.00% 15.875 120.4 120.4 NA 18.9 18.9 NA 25.7
BFFC Big Foot Financial Corp. 23.13% 25.00% 38.75% 41.25% 17.750 123.7 123.7 NA 27.7 27.7 NA 21.0
RIVR River Valley Bancorp 36.88% 38.75% 50.00% 45.00% 16.500 112.9 114.6 NA 13.8 14.2 NA 14.0
PSFI PS Financial Inc. 16.41% 16.88% 25.00% 37.50% 15.500 105.7 105.7 NA 18.5 18.5 NA 40.9
CFNC Carolina Fincorp Inc. 30.00% 30.00% 36.25% 47.50% 17.625 128.3 128.3 NA 23.2 23.2 NA 29.3
DCBI Delphos Citizens Bancorp Inc. 21.25% 21.25% 20.63% 41.25% 17.000 113.9 113.9 NA 17.7 17.7 NA 32.3
FTNB Fulton Bancorp Inc. 25.00% 28.75% 47.50% 65.00% 21.500 148.6 148.6 NA 38.4 38.4 NA 37.2
SSFC South Street Financial Corp. NA 25.00% 23.75% 41.25% 18.500 125.9 125.9 NA 25.7 25.7 NA 34.4
AFED AFSALA Bancorp Inc. 13.75% 13.13% 15.63% 20.00% 16.250 102.1 102.1 NA 17.7 17.7 NA 14.9
--------------------------------------------------------------------------------------------------------------------------
Q4 '96 Average 24.63% 26.66% 32.52% 40.89% 116.9 117.1 -- 21.6 21.6 -- 27.6
Median 25.00% 25.00% 35.00% 41.25% 113.9 114.6 -- 18.9 18.5 -- 29.3
--------------------------------------------------------------------------------------------------------------------------
CBES CBES Bancorp Inc. 26.25% 34.38% 32.50% 42.50% 17.750 103.9 103.9 NA 16.4 18.5 NA 19.1
WEHO Westwood Homestead Fin. Corp. 7.50% 6.25% 5.00% 21.25% 15.500 109.4 109.4 NA 32.3 32.3 NA 32.2
HBEI Home Bancorp of Elgin Inc. 18.13% 25.00% 26.25% 33.75% 18.000 131.1 131.1 NA 40.9 40.9 NA 35.0
PFFC Peoples Financial Corp. 8.75% 15.00% 27.50% 30.00% 16.875 106.9 106.9 NA 30.1 30.1 NA 29.1
PFED Park Bancorp Inc. 2.50% 4.38% 5.00% 20.00% 17.000 104.5 104.5 NA 21.3 25.0 NA 23.5
ANA Acadiana Bancshares Inc. 0.00% -2.08% 3.13% 15.63% 21.813 128.5 128.5 NA 21.0 21.0 NA 22.3
PWBK Pennwood Bancorp Inc. -5.00% -8.75% -3.75% 11.88% 16.750 111.3 111.3 NA 24.6 17.5 NA 19.4
MBSP Mitchell Bancorp Inc. NA 6.25% 10.00% 21.25% 17.125 111.3 111.3 NA 28.5 28.5 NA 48.3
OCFC Ocean Financial Corp. 6.25% 0.63% 5.00% 18.13% 34.250 125.2 125.2 NA 19.5 20.9 NA 20.4
HWEN Home Financial Bancorp 2.50% -1.25% 5.00% 20.00% 16.438 107.2 107.2 NA 20.6 27.4 NA 18.2
EGLB Eagle BancGroup Inc. 12.50% 12.50% 11.25% 30.00% 16.625 99.6 99.6 NA 29.7 41.6 NA 11.8
FLKY First Lancaster Bancshares 35.00% 33.75% 37.50% 38.75% 15.688 108.6 108.6 NA 24.5 24.5 NA 37.2
--------------------------------------------------------------------------------------------------------------------------
Q3 '96 Average 12.71% 14.01% 14.94% 25.26% 112.3 112.3 -- 25.8 27.3 -- 26.4
Median 7.50% 6.25% 7.50% 21.25% 109.0 109.0 -- 24.6 26.2 -- 22.9
--------------------------------------------------------------------------------------------------------------------------
PROV Provident Financial Holdings 9.70% 8.10% 1.25% 23.75% 19.938 114.8 114.8 48.6 20.8 38.3 55.4 15.9
PRBC Prestige Bancorp Inc. 3.75% 2.50% -2.50% 22.50% 17.000 103.0 103.0 33.3 15.7 15.7 19.5 11.5
WYNE Wayne Bancorp Inc. 11.25% 13.75% 12.50% 36.25% 24.750 150.6 150.6 46.7 22.9 22.9 22.3 20.1
3
------------------------------- --------------------------------------------------
Percent Change from IPO Current Price to
------------------------------- Current --------------------------------------------------
After After After After Stock Book Tang. LTM Core LTM
1 Day 1 Week 1 Month 3 Months Price Value Book Earnings Earnings EPS EPS Assets
Ticker Short Name (%) (%) (%) (%) 9/8/97 (%) (%) (X) (X) (X) (X) (%)
- ------------------------------------------------------------------------------------------------------------------------------------
DIME Dime Community Bancorp Inc. 16.87% 20.00% 18.75% 33.75% 19.313 132.5 153.8 20.6 23.0 28.4 19.7 19.2
MECH Mechanics Savings Bank 15.00% 15.00% 12.50% 45.00% 24.125 151.4 151.4 8.6 4.4 4.4 8.6 15.5
CNSB CNS Bancorp Inc. 10.00% 16.25% 15.00% 30.00% 17.500 117.9 117.9 64.8 31.3 31.3 35.7 29.4
LXMO Lexington B&L Financial Corp. -5.00% -2.50% 1.25% 0.63% 16.000 108.6 108.6 28.1 18.2 18.2 21.1 30.8
FFBH First Federal Bancshares of AR 30.00% 32.50% 36.90% 36.25% 21.188 129.5 129.5 24.4 18.3 23.0 18.6 19.4
CBK Citizens First Financial Corp. 5.00% 0.00% 1.25% -1.25% 18.125 112.3 112.3 64.7 28.3 32.4 33.6 17.3
RELI Reliance Bancshares Inc. 4.69% 3.13% -0.75% 3.13% 8.500 93.6 93.6 34.0 106.3 212.5 30.4 45.7
CATB Catskill Financial Corp. 3.75% 6.25% 3.75% 0.00% 16.250 107.8 107.8 19.8 19.4 19.4 20.1 27.0
YFCB Yonkers Financial Corporation -2.50% 1.25% -0.60% -2.50% 19.875 140.6 140.6 25.5 18.4 18.4 19.3 20.9
GSFC Green Street Financial Corp. 28.75% 22.50% 23.10% 30.60% 18.625 126.4 126.4 31.6 27.4 27.4 25.9 45.9
FFDF FFD Financial Corp. 5.00% 5.00% 3.10% 1.25% 14.750 101.7 101.7 NA 26.3 23.1 NA 25.2
AMFC AMB Financial Corp. 5.00% 5.00% 5.00% 5.00% 14.500 99.2 99.2 21.6 13.4 21.3 21.3 14.8
FBER 1st Bergen Bancorp 0.00% -5.00% -3.75% -7.50% 18.500 137.3 137.3 44.1 22.0 22.0 26.8 19.5
LONF London Financial Corporation 8.12% 6.25% 1.25% 3.10% 15.000 102.7 102.7 28.9 22.1 22.1 19.5 20.2
PHFC Pittsburgh Home Financial Corp 10.00% 10.00% 6.25% 1.90% 18.938 133.3 134.8 26.3 15.8 18.9 20.6 14.6
SSB Scotland Bancorp Inc 22.50% 25.00% 17.50% 23.75% 19.250 143.1 143.1 33.8 32.1 32.1 27.5 53.0
SSM Stone Street Bancorp Inc. 16.67% 20.00% 18.33% 12.50% 21.438 132.9 132.9 25.5 38.3 38.3 21.2 38.3
WHGB WHG Bancshares Corp. 11.25% 10.60% 12.50% 10.00% 15.750 111.2 111.2 45.0 23.2 23.2 27.2 23.0
--------------------------------------------------------------------------------------------------------------------------
Q2 '96 Average 11.66% 11.98% 10.74% 18.12% 121.4 122.5 33.8 26.1 33.0 24.7 25.1
Median 9.70% 8.10% 5.00% 10.00% 117.9 117.9 30.2 22.1 23.0 21.3 20.2
--------------------------------------------------------------------------------------------------------------------------
CRZY Crazy Woman Creek Bancorp NA 7.50% 5.00% 1.25% 14.500 98.8 98.8 25.4 19.1 18.1 20.7 25.5
PFFB PFF Bancorp Inc. 13.75% 16.25% 16.25% 11.25% 19.750 136.1 137.5 85.9 23.5 23.5 31.4 14.1
FCB Falmouth Co-Operative Bank 7.50% 12.50% 7.50% 3.75% 17.250 112.0 112.0 33.2 35.9 39.2 34.5 26.7
CFTP Community Federal Bancorp 26.25% 28.75% 26.25% 33.75% 17.250 123.6 123.6 27.4 28.8 28.8 22.7 38.2
GAF GA Financial Inc. 13.75% 15.00% 10.00% 10.00% 18.375 129.0 130.3 23.0 17.7 17.7 20.7 19.6
BYFC Broadway Financial Corp. 3.75% 2.50% 2.50% 3.75% 11.000 75.1 75.1 NA 17.2 17.2 26.8 7.5
LFBI Little Falls Bancorp Inc. 13.13% 13.75% 10.00% 8.10% 16.875 116.3 125.9 54.4 23.4 28.1 31.8 15.4
--------------------------------------------------------------------------------------------------------------------------
Q1 '96 Average 13.02% 13.75% 11.07% 10.26% 113.0 114.7 41.5 23.7 24.7 26.9 21.0
Median 13.44% 13.75% 10.00% 8.10% 116.3 123.6 30.3 23.4 23.5 26.8 19.6
--------------------------------------------------------------------------------------------------------------------------
1996 YTD Average 14.86% 16.25% 17.00% 24.10% 117.2 117.9 35.6 24.7 28.1 25.3 25.4
Median 11.25% 13.75% 12.50% 21.25% 112.9 113.9 30.2 22.1 23.1 22.3 22.3
--------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------
1/1/96 to Average 21.14% 22.34% 23.65% 27.22% 116.7 117.4 35.6 24.7 27.8 25.3 25.8
--------------------------------------------------------------------------------------------------------------------------
9/8/97 Median 15.71% 16.57% 17.92% 30.00% 112.2 112.2 30.2 22.9 23.2 22.3 22.6
--------------------------------------------------------------------------------------------------------------------------
4
Exhibit 8
Ninth Ward Savings Bank
Pro-Forma Analysis Sheet - Six Months Ended
30-Jun-97
Includes SOP 93-6
Name of Association: Ninth Ward Savings Bank
Date of Letter to Association: 9/18/97
Date of Market Prices: 9/8/97
Comparable All Publicly Recent Standard
Companies State Thrifts Traded Thrifts Conversion Thrifts
Ninth --------------- --------------- --------------- ------------------
Symbols Value Mean Median Mean Median Mean Median Mean Median
------- ----- ---- ------ ---- ------ ---- ------ ---- ------
Price-Earnings Ratio P/E
- --------------------
Last Twelve Months N/A
At Minimum of Range 33.90
At Midpoint of Range 35.09 36.57 28.98 11.10 11.10 29.59 23.05 23.70 23.20
At Maximum of Range 36.36
At SuperMaximum of Range 37.74
Price-Book Ratio P/B
- ----------------
Last Twelve Months N/A
At Minimum of Range 61.27%
At Midpoint of Range 65.88% 107.52% 99.63% 242.29% 242.29% 154.36% 142.29% 71.10% 71.90%
At Maximum of Range 69.78%
At SuperMaximum of Range 73.58%
Price-Tangible Book Ratio P/TB
- -------------------------
Last Twelve Months N/A
At Minimum of Range 61.27%
At Midpoint of Range 65.88% 107.62% 99.63% 244.23% 244.23% 160.81% 145.44% 71.10% 71.90%
At Maximum of Range 69.78%
At SuperMaximum of Range 73.58%
Price-Assets Ratio P/A
- ------------------
Last Twelve Months N/A
At Minimum of Range 6.27%
At Midpoint of Range 7.31% 16.82% 13.94% 12.61% 12.61% 17.84% 15.50% 17.10% 17.00%
At Maximum of Range 8.32%
At SuperMaximum of Range 9.47%
1
Valuation Parameters
Stub Period Earning Base Y
Six Months Ending June 30, 1997 $ 122 (1)
Pre-Conversion Book Value B
As of June 30, 1997 $ 6,087
Pre-Conversion Assets A
As of June 30, 1997 $112,545
Return on Money R 3.57%(2)
Conversion Expenses $ 507
X 5.79%(3)
Proceeds Not Invested $ 1,050 (4)
Estimated ESOP Borrowings $ 700
ESOP Purchases E 8.00%(5)
Cost of ESOP Borrowings $ 70 (5)
Cost of ESOP Borrowings S 0.00%(5)
Amort of ESOP Borrowings T 10 Years
Amort of MRP Amount N 5 Years
Estimated MRP Amount $ 350 (6)
MRP Purchases M 4.00%
MRP Expense $ 70
Foundation Amount $ --
Foundation Amount F 0.00%
Tax Rate TAX 37.00%
Percentage Sold PCT 100.00%
Tax Benefit Z $ 0
Earnings Multiplier 2.00
(1) Net income for the six months ended June 30, 1997
(2) Net Return assumes a reinvestment rate of 5.67 percent (the 1 year Treasury
at June 30, 1997), and a tax rate of 37%.
(3) Conversion expenses reflect estimated expenses as presented in the offering
document.
(4) Includes Stock from ESOP and MRP.
(5) Assumes ESOP is amortized straight line over ten years.
(6) Assumes MRP is amortized straight line over five years.
2
Pro Forma Calculation
Calculation of Estimated Value (V) at Midpoint Value
3. V= P/E*Y = $875,000 ($210,601)
-----
1-P/E*PCT*((1-X-E-M-F)*R-(1-TAX)*E/T-(1-TAX)*M/N)
2. V= P/B*(B+Z) = $875,000 $8,747
---------
1-P/B*PCT*(1-X-E-M-F)
1. V= P/A*A = $875,000 $8,753
-----
1-P/A*PCT*(1-X-E-M-F)
Full Exchange Conversion Implied
Total Price per Conversion --------------- --------------- Gross Exchange Exchange
Conclusion Shares Share Value Shares Percent Shares Percent Proceeds Value Ratio
- ---------- ------ --------- ---------- ------ ------- ------ ------- -------- -------- --------
Appraised Value - Midpoint 875 $10 $ 8,750 0 0.00% 875 100.00% $ 8,750 $0 #DIV/0!
Appraised Value - Minimum 744 $10 $ 7,440 0 0.00% 744 100.00% $ 7,440 $0 #DIV/0!
Appraised Value - Maximum 1,006 $10 $10,060 0 0.00% 1,006 100.00% $10,060 $0 #DIV/0!
Appraised Value - SuperMaximum* 1,157 $10 $11,570 0 0.00% 1,157 100.00% $11,570 $0 #DIV/0!
* SuperMaximum is an overallotment option that is 15% above the maximum amount.
3
Proforma Effect of Conversion Proceeds
As of June 30, 1997
(Dollars in Thousands)
---------------------------------------
Minimum Midpoint Maximum SuperMax
- -------------------------------------- ---------------------------------------
Conversion Proceeds
- --------------------------------------
Total Shares Offered 744 875 1,006 1,157
Conversion Shares Offered 744 875 1,006 1,157
Price Per Share $ 10 $ 10 $ 10 $ 10
---------------------------------------
Gross Proceeds $ 7,440 $ 8,750 $ 10,060 $ 11,570
Less: Est. Conversion Expenses $ 492 $ 507 $ 522 $ 540
---------------------------------------
Net Proceeds $ 6,948 $ 8,243 $ 9,538 $ 11,030
- --------------------------------------
Estimated Income from Proceeds
- --------------------------------------
Net Conversion Proceeds $ 6,948 $ 8,243 $ 9,538 $ 11,030
Less: ESOP Adjustment (3) $ 595 $ 700 $ 805 $ 926
Less: MRP Adjustment (3) $ 298 $ 350 $ 402 $ 463
---------------------------------------
Net Proceeds Reinvested $ 6,055 $ 7,193 $ 8,331 $ 9,641
Estimated Incremental Rate of Return 3.57% 3.57% 3.57% 3.57%
---------------------------------------
Estimated Incremental Return $ 432 $ 514 $ 595 $ 688
Less: Cost of ESOP (4) $ 0 $ 0 $ 0 $ 0
Less: Amortization of ESOP (7) $ 75 $ 88 $ 101 $ 117
Less: MRP Adjustment (7) $ 75 $ 88 $ 101 $ 117
---------------------------------------
Pro-forma Net Income $ 282 $ 338 $ 393 $ 454
Earnings Before Conversion $ 122 $ 122 $ 122 $ 122
---------------------------------------
Earnings Excluding Adjustment $ 404 $ 460 $ 515 $ 576
Earnings Adjustment (6) $ 0 $ 0 $ 0 $ 0
---------------------------------------
Earnings After Conversion $ 404 $ 460 $ 515 $ 576
- --------------------------------------
Pro-forma Net Worth
- --------------------------------------
Net Worth at June 30, 1997 $ 6,087 $ 6,087 $ 6,087 $ 6,087
Net Conversion Proceeds 6,948 8,243 9,538 11,030
Plus: MHC Adjustment (7) 0 0 0 0
Less: ESOP Adjustment (1) (595) (700) (805) (926)
Less: MRP Adjustment (2) (298) (350) (402) (463)
---------------------------------------
Pro-forma Net Worth $ 12,142 $ 13,280 $ 14,418 $ 15,728
- --------------------------------------
Pro-forma Tangible Net Worth
- --------------------------------------
Pro-forma Net Worth $ 12,142 $ 13,280 $ 14,418 $ 15,728
Less: Intangible (5) $ 0 $ 0 $ 0 $ 0
---------------------------------------
Pro-forma Tangible Net Worth $ 12,142 $ 13,280 $ 14,418 $ 15,728
- --------------------------------------
Pro-forma Assets
- --------------------------------------
Total Assets at June 30, 1997 $112,545 $112,545 $112,545 $112,545
Net Conversion Proceeds $ 6,948 $ 8,243 $ 9,538 $ 11,030
Plus: MHC Adjustment (7) 0 0 0 0
Less: ESOP Adjustment (1) (595) (700) (805) (926)
Less: MRP Adjustment (2) (298) (350) (402) (463)
---------------------------------------
Pro-forma Assets Excluding Adjustment 118,600 119,738 120,876 122,186
Plus: Adjustment (6) 0 0 0 0
---------------------------------------
Pro-forma Total Assets $118,600 $119,738 $120,876 $122,186
- --------------------------------------
Stockholder's Equity Per Share
- --------------------------------------
Net Worth at June 30, 1997 $ 8.18 $ 6.96 $ 6.05 $ 5.26
Estimated Net Proceeds $ 9.34 $ 9.42 $ 9.48 $ 9.53
Plus: MHC Adjustment $ 0.00 $ 0.00 $ 0.00 $ 0.00
Less: ESOP Stock ($ 0.80) ($ 0.80) ($ 0.80) ($ 0.80)
Less: MRP Stock ($ 0.40) ($ 0.40) ($ 0.40) ($ 0.40)
------ ------ ------ ------
Pro-forma Net Worth Per Share $16.32 $15.18 $14.33 $13.59
Less: Intangible $ 0.00 $ 0.00 $ 0.00 $ 0.00
------ ------ ------ ------
Pro-forma Tangible Net Worth Per Share $16.32 $15.18 $14.33 $13.59
- --------------------------------------
Net Earnings Per Share
- --------------------------------------
Historical Earnings Per Share (8) $ 0.18 $ 0.15 $ 0.13 $ 0.11
Incremental return Per Share (8) $ 0.63 $ 0.64 $ 0.64 $ 0.64
ESOP Adjustment Per Share (8) ($ 0.11) ($ 0.11) ($ 0.11) ($ 0.11)
MRP Adjustment Per Share (8) ($ 0.11) ($ 0.11) ($ 0.11) ($ 0.11)
Normalizing Adjustment Per Share $ 0.00 $ 0.00 $ 0.00 $ 0.00
------ ------ ------ ------
Proforma Earnings Per Share (8) $ 0.59 $ 0.57 $ 0.55 $ 0.53
- --------------------------------------
Shares Utilized
- --------------------------------------
Shares Utilized 687 809 929 1,069
- --------------------------------------
Pro-forma Ratios
- --------------------------------------
Price/EPS without Adjustment 33.90 35.09 36.36 37.74
Price/EPS with Adjustment 33.90 35.09 36.36 37.74
Price/Book Value per Share 61.27% 65.88% 69.78% 73.58%
Price/Tangible Book Value 61.27% 65.88% 69.78% 73.58%
Market Value/Assets 6.27% 7.31% 8.32% 9.47%
---------------------------------------
(1) ESOP Borrowings are deducted from net worth and assets, and amortized over
10 years.
(2) MRP Borrowings are omitted from net worth and assets, and amortized over 5
years.
(3) Consists of ESOP and MRP amortization.
(4),(5) Not applicable
(6) Not applicable
(7) ESOP and MRP are amortized over 10 and 5 years respectively, and tax
impacted at 37%.
(8) All EPS computations are done in accordance with SOP 93-6.
4
Total Shares Offered 744 875 1,006 1,157
Price Per Share 10 10 10 10
---------------------------------------
Gross Proceeds 7,440 8,750 10,060 11,570
Estimated Insider Purchases 300 300 300 300
ESOP Purchases -595 -700 -805 -926
---------------------------------------
Proceeds to Base Fee On 7,145 8,350 9,555 10,944
Underwriters Percentage 1.25% 1.25% 1.25% 1.25%
---------------------------------------
Underwriters Fee 89 104 119 137
Advisory Fee 0 0 0 0
---------------------------------------
Total Underwriters Fee 89 104 119 137
All Other Expenses 403 403 403 403
---------------------------------------
Total Expense 492 507 522 540
Shares Outstanding 744 875 1,006 1,157
Less: New ESOP Adjustment 60 70 81 93
Less: Old ESOP Adjustment (1) 0 0 0 0
Plus: New SOP 93-6 ESOP Shares (2) 3 4 4 5
Plus: Old SOP 93-6 ESOP Shares (2) 0 0 0 0
----- ----- ----- -----
Shares for all EPS Calculations 687 809 929 1,069
0
0
0
0
Dilution of Stock Options 10.82%
Dilution of MRP 4.33%
Options Dilution
Shares utilized for Equity 818 963 1,107 1,273
New Net Worth $ 12,145 $ 13,283 $ 14,422 $ 15,732
New Tangible Net Worth $ 12,145 $ 13,283 $ 14,422 $ 15,732
New Net Worth Per Share 14.84 13.80 13.03 12.36
New Tangible Net Worth Per Share 14.84 13.80 13.03 12.36
MRP Dilution
Shares utilized for Equity 774 910 1,046 1,203
New Net Worth $ 12,143 $ 13,281 $ 14,419 $ 15,730
New Tangible Net Worth $ 12,143 $ 13,281 $ 14,419 $ 15,730
New Net Worth Per Share 15.69 14.59 13.78 13.07
New Tangible Net Worth Per Share 15.69 14.59 13.78 13.07
5
Offering Circular Input
Proforma Effect of Conversion Proceeds
As of June 30, 1997
(Dollars in Thousands)
---------------------------------------
Minimum Midpoint Maximum SuperMax
- -------------------------------------- ---------------------------------------
Conversion Proceeds
- --------------------------------------
Total Shares Offered 744 875 1,006 1,157
Conversion Shares Offered 744 875 1,006 1,157
Price Per Share $ 10 $ 10 $ 10 $ 10
Gross Proceeds $ 7,440 $ 8,750 $10,060 $11,570
Less: Est. Conversion Expenses ($ 492) ($ 507) ($ 522) ($ 540)
Estimated Net Proceeds $ 6,948 $ 8,243 $ 9,538 $11,030
Less: ESOP Adjustment (3) ($ 595) ($ 700) ($ 805) ($ 926)
Less: MRP Adjustment (3) ($ 298) ($ 350) ($ 402) ($ 463)
Estimated Net Proceeds as adjusted $ 6,055 $ 7,193 $ 8,331 $ 9,641
- --------------------------------------
Consolidated Net Earnings
- --------------------------------------
Historical Earnings $ 122 $ 122 $ 122 $ 122
Proforma earnings on net proceeds $ 432 $ 514 $ 595 $ 688
Less: Proforma ESOP Adjustment (7) $ 75 $ 88 $ 101 $ 117
Less: Proforma MRP Adjustment (7) $ 75 $ 88 $ 101 $ 117
Proforma net earnings $ 404 $ 460 $ 515 $ 576
- --------------------------------------
Per Share Net Earnings
- --------------------------------------
Historical Earnings Per Share (8) $ 0.18 $ 0.15 $ 0.13 $ 0.11
Proforma Earnings on net Proceeds (8) $ 0.63 $ 0.64 $ 0.64 $ 0.64
ESOP Adjustment Per Share (8) ($ 0.11) ($ 0.11) ($ 0.11) ($ 0.11)
MRP Adjustment Per Share (8) ($ 0.11) ($ 0.11) ($ 0.11) ($ 0.11)
Proforma Earnings Per Share (8) $ 0.59 $ 0.57 $ 0.55 $ 0.53
- --------------------------------------
Stockholder's Equity
- --------------------------------------
Net Worth at June 30, 1997 $ 6,087 $ 6,087 $ 6,087 $ 6,087
Net Conversion Proceeds 6,948 8,243 9,538 11,030
Plus: MHC Adjustment (7) 0 0 0 0
Less: ESOP Adjustment (1) (595) (700) (805) (926)
Less: MRP Adjustment (2) (298) (350) (402) (463)
Pro-forma Net Worth $12,142 $13,280 $14,418 $15,728
- --------------------------------------
Stockholder's Equity Per Share
- --------------------------------------
Net Worth at June 30, 1997 $ 8.18 $ 6.96 $ 6.05 $ 5.26
Estimated Net Proceeds $ 9.34 $ 9.42 $ 9.48 $ 9.53
Plus: MHC Adjustment $ 0.00 $ 0.00 $ 0.00 $ 0.00
Less: ESOP Stock ($ 0.80) ($ 0.80) ($ 0.80) ($ 0.80)
Less: MRP Stock ($ 0.40) ($ 0.40) ($ 0.40) ($ 0.40)
------- ------- ------- -------
Pro-forma Net Worth Per Share $ 16.32 $ 15.18 $ 14.33 $ 13.59
Less: Intangible $ 0.00 $ 0.00 $ 0.00 $ 0.00
------- ------- ------- -------
Pro-forma Tangible Net Worth Per Share $ 16.32 $ 15.18 $ 14.33 $ 13.59
- --------------------------------------
Pro-forma Ratios
- --------------------------------------
Price/Book Value per Share 61.27% 65.88% 69.78% 73.58%
Price/EPS without Adjustment 33.90 35.09 36.36 37.74
---------------------------------------
For FinPro Use Only - Not In Offering Circular
- -------------------------------------- ---------------------------------------
Pro-forma Tangible Net Worth
- --------------------------------------
Pro-forma Net Worth $ 12,142 $ 13,280 $ 14,418 $ 15,728
Less: Intangible (5) $ 0 $ 0 $ 0 $ 0
Pro-forma Tangible Net Worth $ 12,142 $ 13,280 $ 14,418 $ 15,728
- --------------------------------------
Pro-forma Assets
- --------------------------------------
Total Assets at June 30, 1997 $112,545 $112,545 $112,545 $112,545
Net Conversion Proceeds $ 6,948 $ 8,243 $ 9,538 $ 11,030
Plus: MHC Adjustment (7) 0 0 0 0
Less: ESOP Adjustment (1) (595) (700) (805) (926)
Less: MRP Adjustment (2) (298) (350) (402) (463)
Pro-forma Assets Excluding Adjustment 118,600 119,738 120,876 122,186
Plus: Adjustment (6) 0 0 0 0
Pro-forma Total Assets $118,600 $119,738 $120,876 $122,186
Shares Utilized 687 809 929 1,069
Price/EPS with Adjustment 33.90 35.09 36.36 37.74
Price/Tangible Book Value 61.27% 65.88% 69.78% 73.58%
Market Value/Assets 6.27% 7.31% 8.32% 9.47%
---------------------------------------
6
Exhibit 9
Ninth Ward Savings Bank
Pro-Forma Analysis Sheet with Foundation
Includes SOP 93-6
Name of Association: Ninth Ward Savings Bank
Date of Letter to Association: 9/18/97
Date of Market Prices: 9/8/97
Comparable All Publicly Recent Standard
Companies State Thrifts Traded Thrifts Conversion Thrifts
Ninth --------------- --------------- --------------- ------------------
Symbols Value Mean Median Mean Median Mean Median Mean Median
------- ----- ---- ------ ---- ------ ---- ------ ---- ------
Price-Earnings Ratio P/E
- --------------------
Last Twelve Months N/A
At Minimum of Range 125.00
At Midpoint of Range 100.00 36.57 28.98 11.10 11.10 29.59 23.05 23.70 23.20
At Maximum of Range 83.33
At SuperMaximum of Range 76.92
Price-Book Ratio P/B
- ----------------
Last Twelve Months N/A
At Minimum of Range 61.88%
At Midpoint of Range 66.49% 107.52% 99.63% 242.29% 242.29% 154.36% 142.29% 71.10% 71.90%
At Maximum of Range 70.37%
At SuperMaximum of Range 74.13%
Price-Tangible Book Ratio P/TB
- -------------------------
Last Twelve Months N/A
At Minimum of Range 61.88%
At Midpoint of Range 66.49% 107.62% 99.63% 244.23% 244.23% 160.81% 145.44% 71.10% 71.90%
At Maximum of Range 70.37%
At SuperMaximum of Range 74.13%
Price-Assets Ratio P/A
- ------------------
Last Twelve Months N/A
At Minimum of Range 6.26%
At Midpoint of Range 7.30% 16.82% 13.94% 12.61% 12.61% 17.84% 15.50% 17.10% 17.00%
At Maximum of Range 8.31%
At SuperMaximum of Range 9.46%
1
Valuation Parameters
Twelve Mos. Earning Base Y
Period Ended December 31, 1996 $ (95)(1)
Pre-Conversion Book Value B
As of December 31, 1996 $ 5,958
Pre-Conversion Assets A
As of December 31, 1996 $112,683
Return on Money R 3.57%(2)
Conversion Expenses $ 500
X 5.71%(3)
Proceeds Not Invested $ 1,050 (4)
Estimated ESOP Borrowings $ 700
ESOP Purchases E 8.00%
Cost of ESOP Borrowings $ 70 (5)
Cost of ESOP Borrowings S 0.00%
Amort of ESOP Borrowings T 10 Years
Amort of MRP Amount N 5 Years
Estimated MRP Amount $ 350 (6)
MRP Purchases M 4.00%
MRP Expense $ 70
Foundation Amount $ -- (7)
Foundation Amount F 0.00% 0.00%
Foundation Opportunity Cost $ 0
Tax Benefit Z $ 0 (8)
Tax Rate TAX 37.00%
Percentage Sold PCT 100.00%
Amount to be Issued to Public $ 8,750 (9)
Earnings Multiplier 1.00
(1) The expenses of the Foundation are not considered.
(2) Net Return assumes a reinvestment rate of 5.67 percent (the 1 year Treasury
at June 30, 1997), and a tax rate of 37%.
(3) Conversion expenses reflect estimated expenses as presented in the offering
document.
(4) Includes Stock from ESOP and MRP
(5) Assumes ESOP is amortized straight line over ten years.
(6) Assumes MRP is amortized straight line over five years.
(7) Not applicable
(8) Not applicable
(9) The amount to be offered to public.
2
Pro Forma Calculation
Calculation of Estimated Value (V) at Midpoint Value
3. V= P/E*Y = $8,750 $10,151
-----
1-P/E*PCT*((1-X-E-M-F)*R-(1-TAX)*E/T-(1-TAX)*M/N)
2. V= P/B*(B+Z) = $8,750 $8,747
---------
1-P/B*PCT*(1-X-E-M-F)
1. V= P/A*A = $8,750 $8,749
-----
1-P/A*PCT*(1-X-E-M-F)
Pre-Foundation
- ---------------------------------------------------------------------------------------------------------------
Implied
Total Price per Total Exchange Conversion Exchange Gross Exchange
Conclusion Shares Share Value Shares Shares Ratio Proceeds Value
- ---------- ------ --------- ----- -------- ---------- -------- -------- --------
Appraised Value - Midpoint 875 $10 $ 8,750 -- 875 #DIV/0! $ 8,750 $0
Appraised Value - Minimum 744 $10 $ 7,440 -- 744 #DIV/0! $ 7,440 $0
Appraised Value - Maximum 1,006 $10 $10,060 -- 1,006 #DIV/0! $10,060 $0
Appraised Value - SuperMaximum 1,157 $10 $11,570 -- 1,157 #DIV/0! $11,570 $0
3
Proforma Effect of Conversion Proceeds
As of March 31, 1996
(Dollars in Thousands)
---------------------------------------
Minimum Midpoint Maximum SuperMax
- -------------------------------------- ---------------------------------------
Conversion Proceeds
- --------------------------------------
Total Shares Offered 744 875 1,006 1,157
Conversion Shares Offered 744 875 1,006 1,157
Price Per Share $ 10 $ 10 $ 10 $ 10
---------------------------------------
Gross Proceeds $ 7,440 $ 8,750 $ 10,060 $ 11,570
Plus: Value issued to Foundation (9) 0 0 0 0
---------------------------------------
Pro Forma Market Capitalization $ 7,440 $ 8,750 $ 10,060 $ 11,570
=======================================
Gross Proceeds $ 7,440 $ 8,750 $ 10,060 $ 11,570
Less: Est. Conversion Expenses $ 485 $ 500 $ 515 $ 532
---------------------------------------
Net Cash Proceeds $ 6,955 $ 8,250 $ 9,545 $ 11,038
=======================================
Net Cash Proceeds $ 6,955 $ 8,250 $ 9,545 $ 11,038
Less: ESOP Adjustment (3) $ 595 $ 700 $ 805 $ 926
Less: MRP Adjustment (3) $ 298 $ 350 $ 402 $ 463
---------------------------------------
Net Proceeds Reinvested $ 6,062 $ 7,200 $ 8,338 $ 9,649
=======================================
Earnings Before Conversion $ (95) $ (95) $ (95) $ (95)
Estimated Incremental Return $ 217 $ 257 $ 298 $ 345
Less: Cost of ESOP (4) $ 0 $ 0 $ 0 $ 0
Less: Amortization of ESOP (7) $ 37 $ 44 $ 51 $ 58
Less: MRP Adjustment (8) $ 37 $ 44 $ 51 $ 58
---------------------------------------
Pro-forma Incremental Net Income $ 142 $ 169 $ 196 $ 228
---------------------------------------
Pro Forma Earnings Excluding Adjustment $ 47 $ 74 $ 102 $ 134
Earnings Adjustment $ 0 $ 0 $ 0 $ 0
---------------------------------------
Earnings After Conversion $ 47 $ 74 $ 102 $ 134
- --------------------------------------
Pro-forma Net Worth
- --------------------------------------
Net Worth at December 31, 1996 $ 5,958 $ 5,958 $ 5,958 $ 5,958
Net Conversion Proceeds $ 6,955 $ 8,250 $ 9,545 $ 11,038
Plus: MHC Adjustment $ 0 $ 0 $ 0 $ 0
Plus: After tax Foundation Contribution $ -- $ -- $ -- $ --
Less: ESOP Adjustment (1) (595) (700) (805) (926)
Less: MRP Adjustment (2) (298) (350) (402) (463)
---------------------------------------
Pro-forma Net Worth $ 12,020 $ 13,158 $ 14,296 $ 15,607
- --------------------------------------
Pro-forma Tangible Net Worth
- --------------------------------------
Pro-forma Net Worth $ 12,020 $ 13,158 $ 14,296 $ 15,607
Less: Intangible (5) $ 0 $ 0 $ 0 $ 0
---------------------------------------
Pro-forma Tangible Net Worth $ 12,020 $ 13,158 $ 14,296 $ 15,607
- --------------------------------------
Pro-forma Assets
- --------------------------------------
Total Assets at December 31, 1996 $112,683 $112,683 $112,683 $112,683
Net Conversion Proceeds $ 6,955 $ 8,250 $ 9,545 $ 11,038
Plus: MHC Adjustment $ 0 $ 0 $ 0 $ 0
Plus: Tax Benefit of Foundation $ 0 $ 0 $ 0 $ 0
Less: ESOP Adjustment (1) (595) (700) (805) (926)
Less: MRP Adjustment (2) (298) (350) (402) (463)
---------------------------------------
Pro-forma Assets Excluding Adjustment 118,745 119,883 121,021 122,332
Plus: Adjustment 0 0 0 0
---------------------------------------
Pro-forma Total Assets $118,745 $119,883 $121,021 $122,332
- --------------------------------------
Per Share Data
- --------------------------------------
Net Worth at December 31, 1996 $ 8.01 $ 6.81 $ 5.92 $ 5.15
Estimated Net Proceeds $ 9.35 $ 9.43 $ 9.49 $ 9.54
Plus: MHC Adjustment $ 0.00 $ 0.00 $ 0.00 $ 0.00
Plus: Foundation Contribution $ 0.00 $ 0.00 $ 0.00 $ 0.00
Less: ESOP Stock ($ 0.80) ($ 0.80) ($ 0.80) ($ 0.80)
Less: MRP Stock ($ 0.40) ($ 0.40) ($ 0.40) ($ 0.40)
------ ------ ------ ------
Pro-forma Net Worth Per Share $16.16 $15.04 $14.21 $13.49
Less: Intangible $ 0.00 $ 0.00 $ 0.00 $ 0.00
------ ------ ------ ------
Pro-forma Tangible Net Worth Per Share $16.16 $15.04 $14.21 $13.49
Historical Earnings Per Share (8) ($ 0.14) ($ 0.12) ($ 0.10) ($ 0.09)
Incremental return Per Share (8) $ 0.32 $ 0.32 $ 0.32 $ 0.32
ESOP Adjustment Per Share (8) ($ 0.05) ($ 0.05) ($ 0.05) ($ 0.05)
MRP Adjustment Per Share (8) ($ 0.05) ($ 0.05) ($ 0.05) ($ 0.05)
Earnings Adjustment (8) $ 0.00 $ 0.00 $ 0.00 $ 0.00
------ ------ ------ ------
Proforma Earnings Per Share (8) $ 0.08 $ 0.10 $ 0.12 $ 0.13
Shares Utilized 687 809 930 1,069
- --------------------------------------
Pro-forma Ratios
- --------------------------------------
Price/EPS without Adjustment 125.00 100.00 83.33 76.92
Price/EPS with Adjustment 125.00 100.00 83.33 76.92
Price/Book Value per Share 61.88% 66.49% 70.37% 74.13%
Price/Tangible Book Value 61.88% 66.49% 70.37% 74.13%
Market Value/Assets 6.26% 7.30% 8.31% 9.46%
---------------------------------------
(1) ESOP Borrowings are deducted from net worth and assets, and amortized over
10 years.
(2) MRP Borrowings are omitted from net worth and assets, and amortized over 5
years.
(3) Consists of ESOP and MRP amortization.
(4) The ESOP loan is from Holding Company and therefore, there are no costs.
(5) Not applicable
(6) Not applicable
(7) ESOP and MRP are amortized over 10 and 5 years respectively, and tax
impacted at 37%.
(8) All EPS computations are done in accordance with SOP 93-6.
(9) Not applicable
4
Total Shares Offered 744 875 1,006 1,157
Price Per Share 10 10 10 10
---------------------------------------
Gross Proceeds 7,440 8,750 10,060 11,570
Estimated Insider Purchases -300 -300 -300 -300
ESOP Purchases -595 -700 -805 -926
---------------------------------------
Proceeds to Base Fee On 6,545 7,750 8,955 10,344
Underwriters Percentage 1.25% 1.25% 1.25% 1.25%
---------------------------------------
Underwriters Fee 82 97 112 129
Advisory Fee 0 0 0 0
---------------------------------------
Total Underwriters Fee 82 97 112 129
All Other Expenses 403 403 403 403
---------------------------------------
Total Expense 485 500 515 532
Shares Outstanding 744 875 1,006 1,157
Less: New ESOP Adjustment 60 70 80 93
Less: Old ESOP Adjustment 0 0 0 0
Plus: New SOP 93-6 ESOP Shares 3 4 4 5
Plus: Old SOP 93-6 ESOP Shares 0 0 0 0
----- ----- ----- -----
Shares for all EPS Calculations 687 809 930 1,069
0
0
Dilution of Stock Options 10.82%
Dilution of MRP 4.33%
5
Exhibit 10
Ninth Ward Savings Bank
Pro-Forma Analysis Sheet - Twelve Months Ended
30-Jun-97
Includes SOP 93-6
Name of Association: Ninth Ward Savings Bank
Date of Letter to Association: 9/18/97
Date of Market Prices: 9/8/97
Comparable All Publicly Recent Standard
Companies State Thrifts Traded Thrifts Conversion Thrifts
Ninth --------------- --------------- --------------- ------------------
Symbols Value Mean Median Mean Median Mean Median Mean Median
------- ----- ---- ------ ---- ------ ---- ------ ---- ------
Price-Earnings Ratio P/E
- --------------------
Last Twelve Months N/A
At Minimum of Range 15.87
At Midpoint of Range 17.24 36.57 28.98 11.10 11.10 29.59 23.05 23.70 23.20
At Maximum of Range 18.87
At SuperMaximum of Range 20.00
Price-Book Ratio P/B
- ----------------
Last Twelve Months N/A
At Minimum of Range 61.24%
At Midpoint of Range 65.83% 107.52% 99.63% 242.29% 242.29% 154.36% 142.29% 71.10% 71.90%
At Maximum of Range 69.74%
At SuperMaximum of Range 73.53%
Price-Tangible Book Ratio P/TB
- -------------------------
Last Twelve Months N/A
At Minimum of Range 61.24%
At Midpoint of Range 65.83% 107.62% 99.63% 244.23% 244.23% 160.81% 145.44% 71.10% 71.90%
At Maximum of Range 69.74%
At SuperMaximum of Range 73.53%
Price-Assets Ratio P/A
- ------------------
Last Twelve Months N/A
At Minimum of Range 6.27%
At Midpoint of Range 7.31% 16.82% 13.94% 12.61% 12.61% 17.84% 15.50% 17.10% 17.00%
At Maximum of Range 8.32%
At SuperMaximum of Range 9.47%
1
Valuation Parameters
Twelve Mos. Earning Base Y
Period Ended June 30, 1997 $ (14)(1)
Pre-Conversion Book Value B
As of June 30, 1997 $ 6,087
Pre-Conversion Assets A
As of June 30, 1997 $112,545
Return on Money R 3.57%(2)
Conversion Expenses $ 500
X 5.71%(3)
Proceeds Not Invested $ 1,050 (4)
Estimated ESOP Borrowings $ 700
ESOP Purchases E 8.00%(5)
Cost of ESOP Borrowings $ 70 (5)
Cost of ESOP Borrowings S 0.00%(5)
Amort of ESOP Borrowings T 10 Years
Amort of MRP Amount N 5 Years
Estimated MRP Amount $ 350 (6)
MRP Purchases M 4.00%
MRP Expense $ 70
Foundation Amount $ --
Foundation Amount F 0.00%
Tax Rate TAX 37.00%
Percentage Sold PCT 100.00%
Tax Benefit Z $ 0
Earnings Multiplier 1.00
(1) Net income for the twelve months ended June 30, 1997
(2) Net Return assumes a reinvestment rate of 5.67 percent (the 1 year Treasury
at June 30, 1997), and a tax rate of 37%.
(3) Conversion expenses reflect estimated expenses as presented in the offering
document.
(4) Includes Stock from ESOP and MRP.
(5) Assumes ESOP is amortized straight line over ten years.
(6) Assumes MRP is amortized straight line over five years.
Pro Forma Calculation
Calculation of Estimated Value (V) at Midpoint Value
3. V= P/E*Y = $8,750,000
-----
1-P/E*PCT*((1-X-E-M-F)*R-(1-TAX)*E/T-(1-TAX)*M/N)
2. V= P/B*(B+Z) = $8,750,000
---------
1-P/B*PCT*(1-X-E-M-F)
1. V= P/A*A = $8,750,000
-----
1-P/A*PCT*(1-X-E-M-F)
Full Exchange Conversion
Total Price per Conversion --------------- --------------- Gross Exchange Exchange
Conclusion Shares Share Value Shares Percent Shares Percent Proceeds Value Ratio
- ---------- ------ --------- ---------- ------ ------- ------ ------- -------- -------- --------
Appraised Value - Midpoint 875 $10 $ 8,750 0 0.00% 875 100.00% $ 8,750 $0 #DIV/0!
Appraised Value - Minimum 744 $10 $ 7,440 0 0.00% 744 100.00% $ 7,440 $0 #DIV/0!
Appraised Value - Maximum 1,006 $10 $10,060 0 0.00% 1,006 100.00% $10,060 $0 #DIV/0!
Appraised Value - SuperMaximum* 1,157 $10 $11,570 0 0.00% 1,157 100.00% $11,570 $0 #DIV/0!
* SuperMaximum is an overallotment option that is 15% above the maximum amount.
2
Proforma Effect of Conversion Proceeds
As of June 30, 1997
(Dollars in Thousands)
---------------------------------------
Minimum Midpoint Maximum SuperMax
- -------------------------------------- ---------------------------------------
Conversion Proceeds
- --------------------------------------
Total Shares Offered 744 875 1,006 1,157
Conversion Shares Offered 744 875 1,006 1,157
Price Per Share $ 10 $ 10 $ 10 $ 10
---------------------------------------
Gross Proceeds $ 7,440 $ 8,750 $ 10,060 $ 11,570
Less: Est. Conversion Expenses $ 485 $ 500 $ 515 $ 532
---------------------------------------
Net Proceeds $ 6,955 $ 8,250 $ 9,545 $ 11,038
- --------------------------------------
Estimated Income from Proceeds
- --------------------------------------
Net Conversion Proceeds $ 6,955 $ 8,250 $ 9,545 $ 11,038
Less: ESOP Adjustment (3) $ 595 $ 700 $ 805 $ 926
Less: MRP Adjustment (3) $ 298 $ 350 $ 402 $ 463
---------------------------------------
Net Proceeds Reinvested $ 6,062 $ 7,200 $ 8,338 $ 9,649
Estimated Incremental Rate of Return 3.57% 3.57% 3.57% 3.57%
---------------------------------------
Estimated Incremental Return $ 216 $ 257 $ 298 $ 344
Less: Cost of ESOP (4) $ 0 $ 0 $ 0 $ 0
Less: Amortization of ESOP (7) $ 37 $ 44 $ 51 $ 58
Less: MRP Adjustment (7) $ 38 $ 44 $ 51 $ 58
---------------------------------------
Pro-forma Net Income $ 141 $ 169 $ 196 $ 228
Earnings Before Conversion $ (14) $ (14) $ (14) $ (14)
---------------------------------------
Earnings Excluding Adjustment $ 127 $ 155 $ 182 $ 214
Earnings Adjustment (6) $ 310 $ 310 $ 310 $ 310
---------------------------------------
Earnings After Conversion $ 437 $ 465 $ 492 $ 524
- --------------------------------------
Pro-forma Net Worth
- --------------------------------------
Net Worth at June 30, 1997 $ 6,087 $ 6,087 $ 6,087 $ 6,087
Net Conversion Proceeds $ 6,955 $ 8,250 $ 9,545 $ 11,038
Plus: MHC Adjustment (7) $ 0 $ 0 $ 0 $ 0
Less: ESOP Adjustment (1) (595) (700) (805) (926)
Less: MRP Adjustment (2) (298) (350) (402) (463)
---------------------------------------
Pro-forma Net Worth $ 12,149 $ 13,287 $ 14,425 $ 15,736
- --------------------------------------
Pro-forma Tangible Net Worth
- --------------------------------------
Pro-forma Net Worth $ 12,149 $ 13,287 $ 14,425 $ 15,736
Less: Intangible (5) $ 0 $ 0 $ 0 $ 0
---------------------------------------
Pro-forma Tangible Net Worth $ 12,149 $ 13,287 $ 14,425 $ 15,736
- --------------------------------------
Pro-forma Assets
- --------------------------------------
Total Assets at June 30, 1997 $112,545 $112,545 $112,545 $112,545
Net Conversion Proceeds $ 6,955 $ 8,250 $ 9,545 $ 11,038
Plus: MHC Adjustment (7) $ 0 $ 0 $ 0 $ 0
Less: ESOP Adjustment (1) (595) (700) (805) (926)
Less: MRP Adjustment (2) (298) (350) (402) (463)
---------------------------------------
Pro-forma Assets Excluding Adjustment 118,607 119,745 120,883 122,194
Plus: Adjustment 0 0 0 0
---------------------------------------
Pro-forma Total Assets $118,607 $119,745 $120,883 $122,194
- --------------------------------------
Stockholder's Equity Per Share
- --------------------------------------
Net Worth at June 30, 1997 $ 8.18 $ 6.96 $ 6.05 $ 5.26
Estimated Net Proceeds $ 9.35 $ 9.43 $ 9.49 $ 9.54
Plus: MHC Adjustment $ 0.00 $ 0.00 $ 0.00 $ 0.00
Less: ESOP Stock ($ 0.80) ($ 0.80) ($ 0.80) ($ 0.80)
Less: MRP Stock ($ 0.40) ($ 0.40) ($ 0.40) ($ 0.40)
------ ------ ------ ------
Pro-forma Net Worth Per Share $16.33 $15.19 $14.34 $13.60
Less: Intangible $ 0.00 $ 0.00 $ 0.00 $ 0.00
------ ------ ------ ------
Pro-forma Tangible Net Worth Per Share $16.33 $15.19 $14.34 $13.60
- --------------------------------------
Net Earnings Per Share
- --------------------------------------
Historical Earnings Per Share (8) ($ 0.02) ($ 0.02) ($ 0.02) ($ 0.01)
Incremental return Per Share (8) $ 0.31 $ 0.32 $ 0.32 $ 0.32
ESOP Adjustment Per Share (8) ($ 0.05) ($ 0.05) ($ 0.05) ($ 0.05)
MRP Adjustment Per Share (8) ($ 0.06) ($ 0.05) ($ 0.05) ($ 0.05)
Normalizing Adjustment Per Share $ 0.45 $ 0.38 $ 0.33 $ 0.29
------ ------ ------ ------
Proforma Earnings Per Share (8) $ 0.63 $ 0.58 $ 0.53 $ 0.50
- --------------------------------------
Shares Utilized
- --------------------------------------
Shares Utilized 687 809 929 1,069
- --------------------------------------
Pro-forma Ratios
- --------------------------------------
Price/EPS without Adjustment 15.87 17.24 18.87 20.00
Price/EPS with Adjustment 15.87 17.24 18.87 20.00
Price/Book Value per Share 61.24% 65.83% 69.74% 73.53%
Price/Tangible Book Value 61.24% 65.83% 69.74% 73.53%
Market Value/Assets 6.27% 7.31% 8.32% 9.47%
---------------------------------------
(1) ESOP Borrowings are deducted from net worth and assets, and amortized over
10 years.
(2) MRP Borrowings are omitted from net worth and assets, and amortized over 5
years.
(3) Consists of ESOP and MRP amortization.
(4),(5) Not applicable
(6) Earnings were adjusted for one time SAIF assessment of $493 thousand tax
impacted 37%.
(7) ESOP and MRP are amortized over 10 and 5 years respectively, and tax
impacted at 37%.
(8) All EPS computations are done in accordance with SOP 93-6.
3
Total Shares Offered 744 875 1,006 1,157
Price Per Share 10 10 10 10
---------------------------------------
Gross Proceeds 7,440 8,750 10,060 11,570
Estimated Insider Purchases -300 -300 -300 -300
ESOP Purchases -595 -700 -805 -926
---------------------------------------
Proceeds to Base Fee On 6,545 7,750 8,955 10,344
Underwriters Percentage 1.25% 1.25% 1.25% 1.25%
---------------------------------------
Underwriters Fee 82 97 112 129
Advisory Fee 0 0 0 0
---------------------------------------
Total Underwriters Fee 82 97 112 129
All Other Expenses 403 403 403 403
---------------------------------------
Total Expense 485 500 515 532
Shares Outstanding 744 875 1,006 1,157
Less: New ESOP Adjustment 60 70 81 93
Less: Old ESOP Adjustment (1) 0 0 0 0
Plus: New SOP 93-6 ESOP Shares (2) 3 4 4 5
Plus: Old SOP 93-6 ESOP Shares (2) 0 0 0 0
----- ----- ----- -----
Shares for all EPS Calculations 687 809 929 1,069
Dilution of Stock Options 10.82%
Dilution of MRP 4.33%
4
Exhibit 11
[LOGO OMITTED]
- ------------------------
About the Firm
- ------------------------
FinPro, Inc. was established in 1988 as a full service management consulting
firm specializing in providing advisory services to the Financial Institutions
Industry. FinPro provides management advisory services for Banks, Thrifts,
Finance Companies and NonBank Banks. Additionally, FinPro has performed work for
the Federal Bankruptcy Court, Federal Deposit Insurance Corporation, Office of
Thrift Supervision and the Resolution Trust Corporation. FinPro is recognized as
an expert in banking and in loan analysis by the Federal Bankruptcy Court.
FinPro is independently owned, not associated or affiliated with any transaction
oriented firm. This provides FinPro with an unbiased platform from which to make
analytical recommendations. FinPro believes that a client deserves to be told
all of the alternatives, along with their associated benefits and downsides and
that a decision should be made on its merits. This uniquely positions FinPro as
an objective third party willing to suggest the unpopular strategies, unlike its
competitors who rely on a transaction to get paid.
FinPro is headquartered in Liberty Corner, New Jersey and has a branch office in
Buffalo, New York. FinPro focuses geographically on the Mid-Atlantic region, but
has performed work in all other regions across the nation.
FinPro principals are frequent speakers and presenters at financial institution
trade association functions. In addition, FinPro designed the Statistical Report
Analysis currently produced quarterly by the New Jersey Savings League for its
members. FinPro also hosts a tri-annual President's Breakfast for Presidents of
New Jersey Community Banks.
FinPro maintains a library of databases encompassing bank and thrift capital
markets data, census data, branch deposit data, national peer data, market
research data along with many other related topics. As such, FinPro can provide
quick, current and precise analytical assessments based on timely data. In
addition, FinPro's geographic mapping capabilities give it a unique capability
to thematically illustrate multiple issues and to provide targeted marketing
opportunities to its clients.
FinPro, Inc.
About the Firm Page: 2
- --------------------------------------------------------------------------------
FinPro has also designed and built PC-based software programs to utilize as
tools in its work. Examples include:
o A proprietary software program (LaRS (R)) to perform loan review
analytics.
o A duration based asset/liability model.
o A five year strategic planning, three year business planning, and one
year budgetary model that completely simulates an entire institution.
o A branch and product profitability model.
o A market performance grid and branch improvement grid model.
Using systems such as these, FinPro provides state-of-the-art end products in
all of its product and service areas.
FinPro, Inc.
About the Firm Page: 3
- --------------------------------------------------------------------------------
- --------------------------------
Key Player Biographies
- --------------------------------
Donald J. Musso - Managing Director and President
Donald founded FinPro, Inc. in 1987 as a consulting and investment banking
firm located in New Jersey that specializes in providing advisory services
to the financial institutions industry. Mr. Musso has a broad background in
capital markets, bank valuations, enhancing franchise value, corporate
finance, mergers and acquisitions, asset/liability management, strategic
planning, market feasibility and differentiation, branch acquisition,
sales, consolidation and profitability, financial modeling and analysis,
balance sheet restructuring, product and segment profitability, business
development and project management. Besides his consulting experience, he
has solid industry experience, having worked for two $10 billion plus east
coast financial institutions.
Mr. Musso has provided expert testimony on financial institutions matters
for the Federal Bankruptcy Court, the Office of Thrift Supervision and the
United States Attorney's Office.
He is a frequent speaker on Financial Institution related topics and has
assisted trade groups in various activities.
Prior to establishing FinPro, Donald had direct industry experience having
managed the Corporate Planning and Mergers and Acquisitions departments for
Meritor Financial Group, a $20 billion institution in Philadelphia. Before
that, he had responsibility for the banking, thrift and real estate
consulting practice in the State of New Jersey for Deloitte Haskins &
Sells.
Donald has a B.S. in Finance from Villanova University and a M.B.A. in
Finance from Fairleigh Dickenson University.
FinPro, Inc.
About the Firm Page: 4
- --------------------------------------------------------------------------------
Steven P. Musso - Managing Director
Steve joined FinPro in 1989 and is one of the founding members of the firm.
He has extensive experience in performing a wide array of market
feasibility studies, branch profitability analysis, CRA analysis, loan
reviews and work-outs and strategic planning engagements.
Steve manages the FinPro office in Western New York. Additionally, he is
responsible for managing many strategic planning, loan reviews, market
feasibility and CRA engagements.
Steve is responsible for the development of FinPro's CRA, market
feasibility and Loan Review products.
Steve is currently a licensed real estate agent in New Jersey. Prior to
joining FinPro he practiced real estate in Philadelphia, Pennsylvania.
Mr. Musso has a B.S. in Finance from Syracuse University.
FinPro, Inc.
About the Firm Page: 5
- --------------------------------------------------------------------------------
Kenneth G. Emerson, CPA - Director
Ken joined FinPro in October 1996 and has concentrated on bank valuations,
strategic plans, and branch profitability. His twelve years of experience
at banks and brokerage firms, with respect to accounting, reporting, and
information systems serve him well in this capacity. Ken's prior employers
include Summit Bancorp, Valley Savings Bank, Howard Savings Bank, Carteret
Mortgage Company, CIT Data Corp., and Mahler & Emerson Inc. While at those
institutions his responsibilities included asset/liability, cash, back
office, operations, objective, and LAN management, in addition to
regulatory reporting (FRB, FDIC, OTS, State of New Jersey Department of
Banking, and NASD), SEC reporting, shareholder reporting, budgeting,
acquisitions, sales, conversions, interfaces, and FASB implementation.
Mr. Emerson has a B.A. in Accounting from Franklin & Marshall College.
FinPro, Inc.
About the Firm Page: 6
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Dennis E. Gibney - Senior Financial Analyst
Dennis has been concentrating on the firm's asset/liability products.
Market feasibility, competitive analysis, branch profitability and branch
sales/acquisitions are other areas of specialization.
Dennis joined the firm in June of 1996. He received a B.S. from Babson
College with a triple-major in Finance, Investments and Economics. Prior to
joining the firm, Dennis received broad based experience in the securities
industry.
Dennis worked for Merrill Lynch & Co. supporting their Mortgage-Backed
trading desk in New York as an Allocations Specialist and for Sandler
O'Neill & Partners, where he provided sales and trade support.
September 18, 1997
Board of Trustees
Ninth Ward Savings Bank
400 Delaware Avenue
Wilmington, Delaware 19801
Dear Board Members:
We hereby consent to the use of our firm's name, FinPro, Inc. ("FinPro") in the
Application for Conversion on Form 86-AC filed by Ninth Ward Savings Bank, and
any amendments thereto, for permission to convert to a stock savings institution
and references to the Conversion Valuation Appraisal Report ("Report") and the
valuation of Ninth Ward Savings Bank provided by FinPro, and our opinion
regarding subscription rights filed as an exhibit to the applications referred
to below. We also consent to the use of our firm's name and the inclusion of,
summary of and references to our Report in the Form SB-2 Registration Statement
filed by Delaware First Financial Corporation and any amendments thereto, the
Application for Conversion on Form 86-AC filed by Ninth Ward Savings Bank, and
any amendments thereto, and the notice and Application for Conversion for Ninth
Ward Savings Bank, Wilmington, Delaware filed by Ninth Ward Savings Bank and any
amendments thereto.
Very Truly Yours,
FinPro, Inc.
Donald J. Musso
Liberty Corner, New Jersey
September 18, 1997
September 17, 1997
Board of Trustees
Ninth Ward Savings Bank
400 Delaware Avenue
Wilmington, Delaware 19801
Dear Board Members:
All capitalized terms not otherwise defined in this letter have the meanings
given such terms in the Plan of Conversion, as amended (the "Plan") adopted by
the Board of Trustees of Ninth Ward Savings Bank (the "Bank"), whereby the Bank
will convert from a Federal mutual savings bank to a Federal stock savings bank
and issue all of the Bank's outstanding capital stock to Delaware First
Financial Corporation. (the "Company"). Simultaneously, the Company will issue
shares of common stock.
We understand that in accordance with the Plan, Subscription Rights to purchase
shares of the Conversion Stock are to be issued to (i) Eligible Account Holders;
and (ii) the ESOP; together collectively referred to as the "Recipients". Based
solely on our observation that the Subscription Rights will be available to such
Recipients without cost, will be legally non-transferable and of short duration,
and will afford the Recipients the right only to purchase shares of Conversion
Stock at the same price as will be paid by members of the general public in the
Community Offering, but without undertaking any independent investigation of
state or federal law or the position of the Internal Revenue Service with
respect to this issue, we are of the belief that:
the Subscription Rights will have no ascertainable market value; and
the price at which the Subscription Rights are excercisable will not be
more or less than the pro forma market value of the shares upon issuance.
Changes in the local and national economy, the legislative and regulatory
environment, the stock market, interest rates, and other external forces (such
as natural disasters or significant world events) may occur from time to time,
often with great unpredictability and may materially impact the value of thrift
stocks as a whole or the Company's value alone. Accordingly, no assurance can be
given that persons who subscribe to shares of Conversion Stock in the conversion
will thereafter be able to buy or sell such shares at the same price paid in the
Subscription Offering.
Very Truly Yours,
FinPro, Inc.
Donald J. Musso
President