STATEMENT OF CONDITION

First Quarter 2008

Assets

Cash on hand and due from banks
Cash and Cash Items	$2,902,868
Due from Banks	14,721,136
	17,624,004

Investment Securities
U.S. Government Notes & Obligations*	87,341,404
Asset Backed Securities*	58,706,734
Corporate Bonds*	41,850,994
Corporate Stocks*	79,971,431
Federal Home Loan Bank Stock	5,028,300
	272,898,863

Federal Funds	66,328,622
Loans on Real Estate	490,300,898
Loans on Commercial Real Estate	48,190,370
Other Loans	4,259,288
Allowance for Loan Loss	-2,812,490
Bank Building & Equipment	15,013,874
Accrued Interest Receivable	4,441,097
Other Assets	6,954,277
TOTAL ASSETS	$923,198,803

Liabilities and Surplus

Liabilities
Deposits	$682,520,330
Reserve for Deferred Income Tax	-2,299,029
Deferred Tax on Investments	16,598,764
Federal Home Loan Bank Borrowings	68,521,050
Other Liabilities	8,749,796
	774,090,911
Surplus
Retained Earnings	118,541,743
Accumulated Other Comprehensive       Income	30,566,149
	149,107,892
TOTAL LIABILITIES & SURPLUS	$923,198,803

*Stated as Market Value
The financial statements of the bank are subject to examination by the Office of the Commissioner of Banks and by independent certified public accountants whose examination and audit dates may differ from the March 31st date as reported above.