<SEC-DOCUMENT>0000928816-11-000871.txt : 20110706
<SEC-HEADER>0000928816-11-000871.hdr.sgml : 20110706
<ACCEPTANCE-DATETIME>20110706150427
ACCESSION NUMBER:		0000928816-11-000871
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20110430
FILED AS OF DATE:		20110706
DATE AS OF CHANGE:		20110706
EFFECTIVENESS DATE:		20110706

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JOHN HANCOCK BANK & THRIFT OPPORTUNITY FUND
		CENTRAL INDEX KEY:			0000925683
		IRS NUMBER:				043241844
		STATE OF INCORPORATION:			MA

	FILING VALUES:
		FORM TYPE:		N-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-08568
		FILM NUMBER:		11952967

	BUSINESS ADDRESS:	
		STREET 1:		C/O JOHN HANCOCK FUNDS
		STREET 2:		601 CONGRESS STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210
		BUSINESS PHONE:		617-663-3000

	MAIL ADDRESS:	
		STREET 1:		C/O JOHN HANCOCK FUNDS
		STREET 2:		601 CONGRESS STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HANCOCK JOHN BANK & THRIFT OPPORTUNITY FUND
		DATE OF NAME CHANGE:	19940728

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HANCOCK JOHN REGIONAL BANK & THRIFT FUND
		DATE OF NAME CHANGE:	19940620
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<SEQUENCE>1
<FILENAME>a_bankthriftopps.htm
<DESCRIPTION>JOHN HANCOCK BANK AND THRIFT OPPORTUNITY FUND
<TEXT>
<!DOCTYPE HTML PUBLIC "">


<HTML>
<HEAD>
   <TITLE>a_bankthriftopps.htm</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY bgcolor="#ffffff">





























<!--$$/page=-->
<A name="page_1"></A><BR>
<a name="_bclPageBorder1"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="50%"></TD>
     <TD width="50%"></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=center><FONT size=3 face=serif>UNITED STATES</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=center><FONT size=3 face=serif>SECURITIES AND EXCHANGE COMMISSION</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=center><FONT size=3 face=serif>Washington, D.C. 20549</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><B><FONT size=3 face=serif>&nbsp;</FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=center><B><FONT size=3 face=serif>FORM N-CSR</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=center><B><FONT size=3 face=serif>&nbsp;</FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=center><B><FONT size=3 face=serif>CERTIFIED SHAREHOLDER REPORT OF REGISTERED</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=center><B><FONT size=3 face=serif>&nbsp;</FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=center><B><FONT size=3 face=serif>MANAGEMENT INVESTMENT COMPANIES</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=center><FONT size=3 face=serif>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=center><FONT size=3 face=serif>Investment Company Act file number </FONT><U><FONT size=3 face=serif>811-8568</FONT></U>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=center><U><FONT size=3 face=serif></FONT></U></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=center><U><FONT size=3 face=serif>John Hancock Bank and Thrift Opportunity Fund</FONT></U>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=center><FONT size=3 face=serif>(Exact name of registrant as specified in charter)</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=center><U><FONT size=3 face=serif></FONT></U></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=center><U><FONT size=3 face=serif>601 Congress Street, Boston, Massachusetts 02210</FONT></U>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=center><FONT size=3 face=serif>(Address of principal executive offices) (Zip code)</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 align=center><FONT size=3 face=serif>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=center><FONT size=3 face=serif>Salvatore Schiavone</FONT></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=center><FONT size=3 face=serif>Treasurer</FONT></TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><FONT size=3 face=serif>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=center><FONT size=3 face=serif>601 Congress Street</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><U><FONT size=3 face=serif></FONT></U></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=center><U><FONT size=3 face=serif>Boston, Massachusetts 02210</FONT></U>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=center><FONT size=3 face=serif>(Name and address of agent for service)</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><FONT size=3 face=serif></FONT></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=left><FONT size=3 face=serif>Registrant's telephone number, including area code: </FONT><U><FONT size=3 face=serif>617-663-4497</FONT></U>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><FONT size=3 face=serif></FONT><FONT size=3 face=serif>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=3 face=serif>Date of fiscal year end:</FONT>&nbsp;</TD>
     <TD style="TEXT-INDENT: 0px" noWrap align=left><FONT size=3 face=serif>October 31</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=2>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=3 face=serif>Date of reporting period:</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=3 face=serif>April 30, 2011</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>ITEM 1. REPORTS TO STOCKHOLDERS</FONT></P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>









































<!--$$/page=-->
<A name="page_1"></A><BR>

<a name="_bclPageBorder1"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<IMG src="bnkthriftoppx1x1.jpg" border=0>
<BR>
</DIV>

<HR noshade align="center" width="100%" size=2>


<!--$$/page=-->
<A name="page_2"></A><BR>
<a name="_bclPageBorder2"></a><P style="TEXT-ALIGN: left; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT size=7 face=serif>Portfolio summary</FONT></P>
<a name="_bclPageBorder2"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%" align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="23%"></TD>
     <TD width="23%"></TD>
     <TD width="8%"></TD>
     <TD width="23%"></TD>
     <TD width="23%"></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=3 noWrap align=left><B><FONT size=1 face=sans-serif>Top 10 Holdings (41.4% of Net Assets on 4-30-11) </FONT></B><SUP><FONT size=1 face=sans-serif>1</FONT></SUP></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=5 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT><FONT size=1 face=sans-serif></FONT><FONT size=1 face=sans-serif></FONT><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>JPMorgan Chase &amp; Company</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>5.4%</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>SVB Financial Group</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>4.0%</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>PNC Financial Services Group, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>5.2%</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Cullen/Frost Bankers, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>4.0%</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Wells Fargo &amp; Company</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>4.7%</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>TCF Financial Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>3.3%</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bank of America Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>4.2%</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>BB&amp;T Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>3.2%</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>U.S. Bancorp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>4.2%</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Zions Bancorporation</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>3.2%</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR>
     <TD colSpan=5></TD></TR>
<TR>
     <TD colSpan=5>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=left><B><FONT size=1 face=sans-serif>Industry Composition</FONT></B><SUP><FONT size=1 face=sans-serif>2,3</FONT></SUP></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=5 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT><FONT size=1 face=sans-serif></FONT><FONT size=1 face=sans-serif></FONT><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Commercial Banks</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>76%</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Capital Markets</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2%</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Diversified Financial Services</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>11%</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Short-Term Investments &amp; Other</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>4%</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Thrifts &amp; Mortgage Finance</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>7%</FONT>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=2>
<HR SIZE=1 noShade>
</TD>
     <TD></TD>
     <TD colSpan=2>&nbsp;</TD></TR></TABLE></DIV>
<a name="_bclPageBorder2"></a><P style="MARGIN: 0px; PADDING-LEFT: 0%; PADDING-RIGHT: 0%">&nbsp;</P>
<P>
<IMG border=0 src="bnkthriftoppx2x1.jpg">
<BR>
</P>
<a name="_bclPageBorder2"></a><P style="TEXT-ALIGN: left; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><SUP><FONT size=1 face=sans-serif>1 </FONT></SUP><FONT size=1 face=sans-serif>Cash and cash equivalents not included in Top 10 Holdings. <BR>
<BR>
</FONT><SUP><FONT size=1 face=sans-serif>2 </FONT></SUP><FONT size=1 face=sans-serif>As a percentage of the Fund&#146;s net assets on 4-30-11.<BR>
<BR>
</FONT><SUP><FONT size=1 face=sans-serif>3 </FONT></SUP><FONT size=1 face=sans-serif>Investments focused on one industry may fluctuate more widely than investments across multipile industries.</FONT></P>
<a name="_bclPageBorder2"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%" align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="4%"></TD>
     <TD width="95%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=sans-serif>6</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund </FONT><B><FONT size=1 face=sans-serif>| Semiannual report</FONT></B>&nbsp;</TD></TR></TABLE></DIV>
<a name="_bclPageBorder2"></a><P style="MARGIN: 0px; PADDING-LEFT: 0%; PADDING-RIGHT: 0%">&nbsp;</P>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_3"></A><BR>
<a name="_bclPageBorder3"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: left"><FONT size=7 face=serif>Fund&#146;s investments</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=4 face=sans-serif>As of 4-30-11 </FONT><FONT size=2 face=sans-serif>(unaudited)</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="69%"></TD>
     <TD width="15%"></TD>
     <TD width="15%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Shares</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Common Stocks 93.61%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$349,908,234</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=3 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>(Cost $318,554,104)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Financials 93.61%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>349,908,234</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Capital Markets 1.99%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>State Street Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>159,460</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>7,422,860</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Commercial Banks 74.93%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>1st United Bancorp, Inc. (I)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>346,472</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2,414,910</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Ameris Bancorp</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>236,991</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2,355,691</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Anchor Bancorp (I)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>88,416</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>898,307</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Avenue Bank (I)(R)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>300,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,249,827</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bank of Marin Bancorp</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>4,520</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>170,133</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bar Harbor Bankshares</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>34,222</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>999,967</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>BB&amp;T Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>440,898</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>11,868,974</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bond Street Holdings LLC, Class A (I)(S)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>291,804</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>5,836,080</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Boston Private Financial Holdings, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>206,198</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,441,324</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bridge Capital Holdings (I)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>150,564</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,547,798</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bryn Mawr Bank Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>80,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,612,000</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>California United Bank (I)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>83,002</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,025,075</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Camden National Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>36,776</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,270,611</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Centerstate Banks, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>321,439</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,999,351</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Citizens Republic Banking Corp., Inc. (I)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2,777,383</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2,549,638</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>City Holding Company</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>47,798</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,629,912</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Comerica, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>287,393</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>10,900,816</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Cullen/Frost Bankers, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>251,048</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>14,872,084</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>CVB Financial Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>265,747</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2,588,376</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>DNB Financial Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>78,515</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>765,521</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>East West Bancorp, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>558,155</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>11,793,815</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Eastern Virginia Bankshares, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>69,998</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>247,093</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>ECB Bancorp, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>27,504</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>327,298</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Evans Bancorp, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>44,524</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>630,015</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Fifth Third Bancorp</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>414,093</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>5,495,014</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>First Bancorp, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>146,499</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2,175,510</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>First California Financial Group, Inc. (I)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>208,583</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>803,045</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>First Horizon National Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>180,033</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,971,361</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>First Southern Bancorp, Inc., Class B (I)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>78,390</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>944,600</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>FNB Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>960,203</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>10,514,223</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Glacier Bancorp, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>189,375</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2,846,306</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Hancock Holding Company</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>232,176</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>7,582,868</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="38%"></TD>
     <TD width="56%"></TD>
     <TD width="4%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>See notes to financial statements</FONT>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Semiannual report | </FONT></B><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>7</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_4"></A><BR>
<a name="_bclPageBorder4"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="69%"></TD>
     <TD width="15%"></TD>
     <TD width="15%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Shares</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Commercial Banks (continued)</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Heritage Commerce Corp. (I)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>387,733</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$2,027,844</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Heritage Financial Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>187,598</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2,765,195</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Heritage Oaks Bancorp (I)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>650,719</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2,407,660</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Horizon Bancorp</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>6,950</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>188,345</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Huntington Bancshares, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>236,485</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,605,733</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Independent Bank Corp. &#151; MA</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>195,961</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>5,743,617</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Lakeland Financial Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>54,942</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,203,788</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>M&amp;T Bank Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>94,160</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>8,320,919</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>MB Financial, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>296,947</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>6,143,833</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Northrim BanCorp, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>77,232</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,545,412</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Pacific Continental Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>195,981</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,871,619</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Park National Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>26,127</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,804,853</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Park Sterling Corp. (I)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>293,418</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,401,071</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>PNC Financial Services Group, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>309,372</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>19,286,250</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Prosperity Bancshares, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>111,554</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>5,114,751</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Renasant Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>37,311</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>626,079</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Sandy Spring Bancorp, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>54,695</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>977,400</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Sierra Bancorp</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>140,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,561,000</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Southcoast Financial Corp. (I)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>64,413</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>209,986</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Sun Bancorp, Inc. (I)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>502,348</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,828,547</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>SunTrust Banks, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>318,859</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>8,988,635</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>SVB Financial Group (I)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>249,420</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>15,074,945</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Talmer Bank &amp; Trust Company (I)(R)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>462,595</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2,624,349</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>TCF Financial Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>783,634</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>12,216,854</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>TriCo Bancshares</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>202,536</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>3,303,362</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Trustmark Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>90,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2,091,600</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>U.S. Bancorp</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>601,613</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>15,533,648</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Union First Market Bankshares Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>56,313</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>716,864</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>United Bancorp, Inc. (I)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>315,013</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,102,546</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Univest Corp. of Pennsylvania</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>19,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>319,580</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Washington Banking Company</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>67,556</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>945,108</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Washington Trust Bancorp, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>123,905</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2,903,094</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Wells Fargo &amp; Company</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>604,108</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>17,585,584</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>WesBanco, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>130,961</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2,658,508</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Westamerica Bancorp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>30,499</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,549,044</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Wilshire Bancorp, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>172,168</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>688,672</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Zions Bancorporation</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>483,334</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>11,817,516</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Diversified Financial Services 9.61%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bank of America Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,278,555</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>15,700,655</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>JPMorgan Chase &amp; Company</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>443,587</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>20,240,875</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Thrifts &amp; Mortgage Finance 7.08%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Berkshire Hill Bancorp, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>358,903</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>8,003,537</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Citizens South Banking Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>343,181</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,630,110</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Doral Financial Corp. (I)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>103,266</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>154,899</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>First Defiance Financial Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>125,381</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,715,212</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>First Financial Holdings, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>90,857</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>997,610</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Flushing Financial Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>126,781</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,866,216</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Heritage Financial Group, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>95,762</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,156,805</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="4%"></TD>
     <TD width="56%"></TD>
     <TD width="38%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=sans-serif>8</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund </FONT><B><FONT size=1 face=sans-serif>| Semiannual report</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>See notes to financial statements</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_5"></A><BR>
<a name="_bclPageBorder5"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="31%"></TD>
     <TD width="15%"></TD>
     <TD width="15%" align=left></TD>
     <TD width="8%" align=left></TD>
     <TD width="15%" align=right></TD>
     <TD width="15%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Shares</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Thrifts &amp; Mortgage Finance (continued)</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Hingham Institution for Savings</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>80,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$4,232,000</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Home Federal Bancorp, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>94,447</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,147,531</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Kaiser Federal Financial Group, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>109,586</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,376,400</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Viewpoint Financial Group</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>69,957</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>863,969</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>WSFS Financial Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>73,787</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>3,318,201</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Shares</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Preferred Securities 1.61%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$6,025,448</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=6 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>(Cost $4,619,727)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=right></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Financials 1.61%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>6,025,448</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=right></TD>
     <TD noWrap align=left></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Commercial Banks 0.72%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>First Southern Bancorp, Inc. (I)(J)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>134</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>553,408</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Monarch Financial Holdings, Inc., Series B, 7.800%</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>38,925</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,049,029</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Zions Bancorporation, Series C, 9.500%</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>40,371</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,085,576</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=right></TD>
     <TD noWrap align=left></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Diversified Financial Services 0.89%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bank of America Corp., Series MER, 8.625%</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>74,849</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2,014,935</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Citigroup Capital XII (8.500% to 3-30-15, then</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>3 month LIBOR + 5.870%)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>50,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,322,500</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif></FONT></B></TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Maturity</FONT></B>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=right><B><FONT size=1 face=sans-serif>Rate (%)</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif></FONT></B></TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>date</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Corporate Bonds 0.14%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$533,721</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=6 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>(Cost $430,659)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=right></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Financials 0.14%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>533,721</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=right></TD>
     <TD noWrap align=left></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Commercial Banks 0.14%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Regions Financial Corp.</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>7.375</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>12-10-37</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$544,613</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>533,721</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6></TD></TR>
<TR>
     <TD colSpan=6>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Capital Preferred Securities 0.09%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$315,103</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=6 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>(Cost $261,285)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=right></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Financials 0.09%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>315,103</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=right></TD>
     <TD noWrap align=left></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Commercial Banks 0.09%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Banponce Trust I, Series A</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>8.327</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>02-01-27</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$360,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>315,103</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Shares</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Warrants 0.40%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$1,500,922</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=6 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>(Cost $1,713,920)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=4 noWrap align=left><FONT size=1 face=sans-serif>&nbsp;</FONT></TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=4 noWrap align=left><FONT size=1 face=sans-serif>Comerica, Inc. (Expiration Date: 11-14-18, Strike Price: $29.40) (I)(J)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>93,762</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,256,411</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Valley National Bancorp (Expiration Date: 11-14-18,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>Strike Price: $17.77) (I)(J)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>33,222</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>80,729</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Washington Federal, Inc. (Expiration Date: 11-14-18,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>Strike Price: $17.57) (I)(J)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>27,297</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>163,782</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="38%"></TD>
     <TD width="56%"></TD>
     <TD width="4%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>See notes to financial statements</FONT>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Semiannual report | </FONT></B><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>9</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_6"></A><BR>
<a name="_bclPageBorder6"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="31%"></TD>
     <TD width="15%"></TD>
     <TD width="15%"></TD>
     <TD width="8%"></TD>
     <TD width="15%"></TD>
     <TD width="15%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif></FONT></B></TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Maturity</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Yield (%)*</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif></FONT></B></TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>date</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Certificate of Deposit 0.02%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$64,409</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=6 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>(Cost $64,409)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><FONT size=1 face=sans-serif>&nbsp;</FONT></TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Country Bank For Savings</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.640</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>08-28-12</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$1,879</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,879</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>First Bank Richmond</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2.226</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>12-05-13</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>19,076</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>19,076</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Framingham Cooperative Bank</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2.000</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>09-12-11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>3,711</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>3,711</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Home Bank</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>0.867</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>12-04-13</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>18,442</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>18,442</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Machias Savings Bank</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.980</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>05-24-11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,782</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,782</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Midstate Federal Savings and Loan</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.590</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>05-27-11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,905</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,905</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Milford Bank</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2.130</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>06-04-11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,776</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,776</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Mount McKinley Savings Bank</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>0.400</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>12-05-11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,682</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,682</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Mt. Washington Bank</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.500</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>10-31-11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,778</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,778</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Newburyport Bank</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.250</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>10-22-12</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2,010</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2,010</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Newton Savings Bank</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2.370</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>05-30-11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,803</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,803</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>OBA Federal Savings and Loan</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.050</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>12-15-11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,287</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,287</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Plymouth Savings Bank</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.340</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>05-11-11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,857</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,857</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Randolph Savings Bank</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.000</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>09-23-11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,854</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,854</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Salem Five Cents Savings Bank</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>0.600</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>12-19-11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,703</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,703</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Sunshine Federal Savings and Loan Association</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2.460</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>05-10-11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,864</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,864</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Par value</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Short-Term Investments 0.20%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$762,000</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=6 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>(Cost $762,000)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Repurchase Agreement 0.20%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>762,000</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>Repurchase Agreement with State Street Corp. dated 4-29-11</FONT>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>at 0.010% to be repurchased at $762,001 on 5-2-11,</FONT>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>collateralized by $750,000 Federal Home Loan Mortgage Corp.,</FONT>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>4.500% due 1-15-14 (valued at $779,025, including interest)</FONT>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$762,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>762,000</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=left><B><FONT size=1 face=sans-serif>Total investments (Cost $326,406,104)</FONT></B><FONT size=1 face=sans-serif>&#134; </FONT><B><FONT size=1 face=sans-serif>96.07%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$359,109,837</FONT></B>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=left><B><FONT size=1 face=sans-serif>Other assets and liabilities, net 3.93%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$14,707,209</FONT></B>&nbsp;</TD></TR>
<TR>
     <TD colSpan=6>
<HR SIZE=1 noShade>
&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Total net assets 100.00%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$373,817,046</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=6 noWrap align=left><B><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT></B><B><FONT size=1 face=sans-serif></FONT></B></TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
<P style="TEXT-ALIGN: left"><FONT size=1 face=sans-serif>The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the Fund.</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="4%"></TD>
     <TD width="57%"></TD>
     <TD width="38%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=sans-serif>10</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund </FONT><B><FONT size=1 face=sans-serif>| Semiannual report</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>See notes to financial statements</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_7"></A><BR>
<a name="_bclPageBorder7"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: left"><B><FONT size=1 face=sans-serif>Notes to Schedule of Investments</FONT></B></P>
<P style="TEXT-ALIGN: left"><FONT size=1 face=sans-serif>LIBOR London Interbank Offered Rate</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=1 face=sans-serif>(I) Non-income producing security.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=1 face=sans-serif>(J) These securities are issued under the U.S. Treasury Department&#146;s Capital Purchase Program.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=1 face=sans-serif>(R) Direct placement securities are restricted to resale and the Fund has limited rights to registration under the Securities Act of 1933.</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="14%"></TD>
     <TD width="14%"></TD>
     <TD width="14%"></TD>
     <TD width="14%"></TD>
     <TD width="14%"></TD>
     <TD width="14%"></TD>
     <TD width="14%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Value as a</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Original</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Beginning</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Ending</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>percentage</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Issuer,</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>acquisition</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Acquisition</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>share</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>share</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>of Fund&#146;s</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Value as of</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Description</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>date</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>cost</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>amount</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>amount</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>net assets</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>4-30-11</FONT></B>&nbsp;</TD></TR>
<TR>
     <TD colSpan=7>
<HR SIZE=1 noShade>
</TD></TR>
<TR>
     <TD colSpan=7>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Avenue Bank</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>1-29-07</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$3,000,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>300,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>300,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>0.33%</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$1,249,827</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=7>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Talmer Bank &amp;</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Trust Company</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>4-30-10</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$2,775,570</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>462,595</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>462,595</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>0.70%</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$2,624,349</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
<P style="TEXT-ALIGN: left"><FONT size=1 face=sans-serif>(S) These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=1 face=sans-serif>* Yield represents the annualized yield at the date of purchase.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=1 face=sans-serif>&#134; At 4-30-11, the aggregate cost of investment securities for federal income tax purposes was $326,410,726. Net unrealized appreciation aggregated $32,699,111, of which $58,383,721 related to appreciated investment securities and $25,684,610 related to depreciated investment securities.</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="38%"></TD>
     <TD width="57%"></TD>
     <TD width="4%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>See notes to financial statements</FONT>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Semiannual report | </FONT></B><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>11</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_8"></A><BR>
<a name="_bclPageBorder8"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>F I N A N C I A L&nbsp; S T A T E M E N T S</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=7 face=serif>Financial statements</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=4 face=sans-serif>Statement of assets and liabilities </FONT><FONT size=2 face=sans-serif>4-30-11 (unaudited)</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=1 face=sans-serif>This Statement of Assets and Liabilities is the Fund&#146;s balance sheet. It shows the value of what the Fund owns, is due and owes. You&#146;ll also find the net asset value for each common share.</FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="79%"></TD>
     <TD width="20%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Assets</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Investments, at value (Cost $326,406,104)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$359,109,837</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Cash</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>14,009,695</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Receivable for investments&nbsp;sold</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>620,492</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Dividends and interest&nbsp;receivable</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>374,328</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Other receivables and prepaid&nbsp;expenses</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>108,666</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Total&nbsp;assets</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>374,223,018</FONT></B>&nbsp;</TD></TR>
<TR>
     <TD colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Liabilities</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Payable for investments&nbsp;purchased</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>265,220</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Payable to&nbsp;affiliates</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>Accounting and legal services&nbsp;fees</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>30,670</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>Trustees&#146;&nbsp;fees</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>56,946</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Other liabilities and accrued&nbsp;expenses</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>53,136</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Total&nbsp;liabilities</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>405,972</FONT></B>&nbsp;</TD></TR>
<TR>
     <TD colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Net&nbsp;assets</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Capital paid-in</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$343,916,563</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Accumulated distributions in excess of net investment&nbsp;income</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(8,160,648)</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Accumulated net realized gain on&nbsp;investments</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>5,357,398</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Net unrealized appreciation (depreciation) on&nbsp;investments</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>32,703,733</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Net&nbsp;assets</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$373,817,046</FONT></B>&nbsp;</TD></TR>
<TR>
     <TD colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Net asset value per&nbsp;share</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Based on 19,604,677 shares of beneficial interest outstanding &#151; unlimited</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>number of shares authorized with no par&nbsp;value</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$19.07</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="4%"></TD>
     <TD width="57%"></TD>
     <TD width="38%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=sans-serif>12</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund </FONT><B><FONT size=1 face=sans-serif>| Semiannual report</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>See notes to financial statements</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_9"></A><BR>
<a name="_bclPageBorder9"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>F I N A N C I A L&nbsp; S T A T E M E N T S</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=4 face=sans-serif>Statement of operations </FONT><FONT size=2 face=sans-serif>For the six-month period ended 4-30-11</FONT><BR>
<FONT size=2 face=sans-serif>(unaudited)</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=1 face=sans-serif>This Statement of Operations summarizes the Fund&#146;s investment income earned and expenses incurred in operating the Fund. It also shows net gains (losses) for the period stated.</FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="79%"></TD>
     <TD width="20%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Investment&nbsp;income</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Dividends</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$2,983,426</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Interest</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>107,582</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Total investment&nbsp;income</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>3,091,008</FONT></B>&nbsp;</TD></TR>
<TR>
     <TD colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Expenses</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Investment management fees (Note&nbsp;4)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2,109,562</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Accounting and legal services fees (Note&nbsp;4)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>458,498</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Transfer agent&nbsp;fees</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>17,441</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Trustees&#146; fees (Note&nbsp;4)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>26,854</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Printing and&nbsp;postage</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>59,941</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Professional&nbsp;fees</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>65,346</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Custodian&nbsp;fees</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>25,330</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Other</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>9,213</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Total&nbsp;expenses</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>2,772,185</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Less expense reductions (Note&nbsp;4)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(275,099)</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Net&nbsp;expenses</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>2,497,086</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Net investment&nbsp;income</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>593,922</FONT></B>&nbsp;</TD></TR>
<TR>
     <TD colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Realized and unrealized&nbsp;gain</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=2 noWrap align=left><B><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT></B><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Net realized&nbsp;gain on investments</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>5,362,020</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Change in net unrealized appreciation (depreciation)&nbsp;of investments</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>45,125,781</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Net realized and unrealized&nbsp;gain</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>50,487,801</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Increase in net assets from&nbsp;operations</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$51,081,723</FONT></B>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="38%"></TD>
     <TD width="57%"></TD>
     <TD width="4%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>See notes to financial statements</FONT>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Semiannual report | </FONT></B><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>13</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_10"></A><BR>
<a name="_bclPageBorder10"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>F I N A N C I A L&nbsp; S T A T E M E N T S</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=4 face=sans-serif>Statements of changes in net assets</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=1 face=sans-serif>These Statements of Changes in Net Assets show how the value of the Fund&#146;s net assets has changed during the last two periods. The difference reflects earnings less expenses, any investment gains and losses, distributions, if any, paid to shareholders and the net of Fund share transactions.</FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="59%"></TD>
     <TD width="20%"></TD>
     <TD width="20%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Six&nbsp;months</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>ended</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Year</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>4-30-11</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>ended</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(unaudited)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>10-31-10</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Increase (decrease) in net&nbsp;assets</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=3 noWrap align=left><B><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
&nbsp;</FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>From&nbsp;operations</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Net investment&nbsp;income</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$593,922</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$1,449,957</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Net realized&nbsp;gain</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>5,362,020</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>19,637,635</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Change in net unrealized appreciation&nbsp;(depreciation)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>45,125,781</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>5,495,106</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Increase in net assets resulting from&nbsp;operations</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>51,081,723</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>26,582,698</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Distributions to&nbsp;shareholders</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>From net investment&nbsp;income</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(8,865,433)</FONT><SUP><FONT size=1 face=sans-serif>1</FONT></SUP>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(1,294,703)</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>From net realized&nbsp;gain</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(13,723,010)</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Total&nbsp;distributions</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(8,865,433)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(15,017,713)</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>From Fund share transactions (Note&nbsp;5)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(6,580,808)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(12,088,382)</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Total increase&nbsp;(decrease)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>35,635,482</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(523,397)</FONT></B>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Net&nbsp;assets</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Beginning of&nbsp;period</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>338,181,564</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>338,704,961</FONT>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>End of&nbsp;period</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$373,817,046</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$338,181,564</FONT></B>&nbsp;</TD></TR>
<TR height=20>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>&nbsp;</FONT></B></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Undistributed (accumulated distributions in excess of) net</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><B><FONT size=1 face=sans-serif>investment&nbsp;income</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>($8,160,648)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$110,863</FONT></B>&nbsp;</TD></TR></TABLE></DIV><FONT size=1 face=sans-serif>
<P style="MARGIN: 0px"><BR>
<BR>
<SUP>1 </SUP></FONT><FONT size=1 face=sans-serif>A portion of the distributions may be deemed a tax return of capital at year-end.</FONT></P>
<P style="MARGIN: 0px"><FONT size=1 face=Arial></FONT>&nbsp;</P>
<P style="MARGIN: 0px"><FONT size=1 face=Arial></FONT>&nbsp;</P>
<P style="MARGIN: 0px"><FONT size=1 face=Arial></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="4%"></TD>
     <TD width="57%"></TD>
     <TD width="38%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=sans-serif>14</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund </FONT><B><FONT size=1 face=sans-serif>| Semiannual report</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>See notes to financial statements</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_11"></A><BR>
<a name="_bclPageBorder11"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: left"><FONT size=7 face=serif>Financial highlights</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=1 face=sans-serif>The Financial Highlights show how the Fund&#146;s net asset value for a share has changed since the end of the previous period.</FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="14%"></TD>
     <TD width="14%"></TD>
     <TD width="14%"></TD>
     <TD width="14%"></TD>
     <TD width="14%"></TD>
     <TD width="14%"></TD>
     <TD width="14%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>COMMON SHARES </FONT></B><B><FONT size=1 face=sans-serif>Period&nbsp;ended</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>4-30-11</FONT></B><SUP><FONT size=1 face=sans-serif>1</FONT></SUP>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>10-31-10</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>10-31-09</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>10-31-08</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>10-31-07</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>10-31-06</FONT></B>&nbsp;</TD></TR>
<TR>
     <TD colSpan=7>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Per share operating&nbsp;performance</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=7 noWrap align=left><B><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT></B><B><FONT size=1 face=sans-serif></FONT></B><B><FONT size=1 face=sans-serif></FONT></B><B><FONT size=1 face=sans-serif></FONT></B><B><FONT size=1 face=sans-serif></FONT></B><B><FONT size=1 face=sans-serif></FONT></B><B><FONT size=1 face=sans-serif></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Net asset value, beginning of&nbsp;period</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$16.90</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$16.28</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$20.81</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$35.08</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$42.28</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$42.08</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Net investment&nbsp;income</FONT><SUP><FONT size=1 face=sans-serif>2</FONT></SUP>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>0.03</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>0.07</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>0.29</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>0.62</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>0.64</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>0.64</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Net realized and unrealized gain (loss)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>on&nbsp;investments</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2.55</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.19</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(3.63)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(8.94)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(3.52)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>3.84</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Total from investment&nbsp;operations</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>2.58</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>1.26</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(3.34)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(8.32)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(2.88)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>4.48</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Less distributions to</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><B><FONT size=1 face=sans-serif>common&nbsp;shareholders</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>From net investment&nbsp;income</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(0.45)</FONT><SUP><FONT size=1 face=sans-serif>3</FONT></SUP>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(0.06)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(0.29)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(0.68)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(0.60)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(0.68)</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>From net realized&nbsp;gain</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(0.67)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(4.76)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(3.72)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(3.60)</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>From tax return of&nbsp;capital</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(0.94)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>(0.51)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Total&nbsp;distributions</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(0.45)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(0.73)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(1.23)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(5.95)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(4.32)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(4.28)</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Anti-dilutive impact of repurchase&nbsp;plan</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>0.04</FONT><SUP><FONT size=1 face=sans-serif>4</FONT></SUP>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>0.09</FONT><SUP><FONT size=1 face=sans-serif>4</FONT></SUP>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>0.04</FONT><SUP><FONT size=1 face=sans-serif>4</FONT></SUP>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Net asset value, end of&nbsp;period</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$19.07</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$16.90</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$16.28</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$20.81</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$35.08</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$42.28</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Per share market value, end of&nbsp;period</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$17.12</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$15.02</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$13.30</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$17.80</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$30.96</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$39.20</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Total return at net asset value (%)</FONT></B><SUP><FONT size=1 face=sans-serif>5,6</FONT></SUP>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>15.79</FONT></B><SUP><FONT size=1 face=sans-serif>7</FONT></SUP>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>8.82</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(13.78)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(24.38)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(6.93)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>12.07</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Total return at market value (%)</FONT></B><SUP><FONT size=1 face=sans-serif>6</FONT></SUP>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>16.96</FONT></B><SUP><FONT size=1 face=sans-serif>7</FONT></SUP>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>18.38</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(17.65)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(26.67)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>(11.41)</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>16.41</FONT></B>&nbsp;</TD></TR>
<TR>
     <TD colSpan=7>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Ratios and supplemental&nbsp;data</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD colSpan=7 noWrap align=left><FONT size=1 face=sans-serif>
<HR SIZE=1 noShade>
</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Net assets applicable to common shares,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>end of period (in&nbsp;millions)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$374</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$338</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$339</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$439</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$740</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$892</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Ratios (as a percentage of average</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>net&nbsp;assets):</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>Expenses before&nbsp;reductions</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.51</FONT><SUP><FONT size=1 face=sans-serif>8</FONT></SUP>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.51</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.55</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.49</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.44</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.46</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>Expenses net of fee waivers and&nbsp;credits</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.36</FONT><SUP><FONT size=1 face=sans-serif>8</FONT></SUP>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.36</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.40</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.34</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.29</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.29</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>Net investment&nbsp;income</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>0.32</FONT><SUP><FONT size=1 face=sans-serif>8</FONT></SUP>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>0.39</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.88</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2.51</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.61</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1.49</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Portfolio turnover (%)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>10</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>34</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>37</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>27</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>21</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>9</FONT>&nbsp;</TD></TR>
<TR>
     <TD></TD>
     <TD colSpan=6>&nbsp;</TD></TR></TABLE></DIV><FONT size=1 face=sans-serif>
<P style="MARGIN: 0px"><BR>
<BR>
<SUP>1 </SUP></FONT><FONT size=1 face=sans-serif>Semiannual period from 11-1-10 to 4-30-11.&nbsp;Unaudited.</FONT><BR>
<SUP><FONT size=1 face=sans-serif>2 </FONT></SUP><FONT size=1 face=sans-serif>Based on the average daily shares&nbsp;outstanding.</FONT><BR>
<SUP><FONT size=1 face=sans-serif>3 </FONT></SUP><FONT size=1 face=sans-serif>A portion of the distributions may be deemed a tax return of capital at year-end.</FONT><BR>
<SUP><FONT size=1 face=sans-serif>4 </FONT></SUP><FONT size=1 face=sans-serif>The repurchase plan was completed at an average repurchase price of $16.41, $15.04 and $12.99 for 401,138;</FONT><BR>
<FONT size=1 face=sans-serif>803,485 and 290,700 shares, and $6,580,808, $12,088,382 and $3,776,593 which had a $0.04, $0.09 and $0.04</FONT><BR>
<FONT size=1 face=sans-serif>NAV impact for the period ended 4-30-11 and the years ended 10-31-10 and 10-31-09,&nbsp;respectively.</FONT><BR>
<SUP><FONT size=1 face=sans-serif>5 </FONT></SUP><FONT size=1 face=sans-serif>Total returns would have been lower had certain expenses not been reduced during the periods&nbsp;shown.</FONT><BR>
<SUP><FONT size=1 face=sans-serif>6 </FONT></SUP><FONT size=1 face=sans-serif>Total return based on net asset value reflects changes in the Fund&#146;s net asset value during each period. Total</FONT><BR>
<FONT size=1 face=sans-serif>return based on market value reflects changes in market value. Each figure assumes that distributions, if any, were</FONT><BR>
<FONT size=1 face=sans-serif>reinvested. These figures will differ depending upon the level of any discount from or premium to net asset value at</FONT><BR>
<FONT size=1 face=sans-serif>which the Fund&#146;s shares traded during the&nbsp;period.</FONT><BR>
<SUP><FONT size=1 face=sans-serif>7 </FONT></SUP><FONT size=1 face=sans-serif>Not&nbsp;annualized.</FONT><BR>
<SUP><FONT size=1 face=sans-serif>8 </FONT></SUP><FONT size=1 face=sans-serif>Annualized.</FONT></P>
<P style="MARGIN: 0px"><FONT size=1 face=Arial></FONT>&nbsp;</P>
<P style="MARGIN: 0px"><FONT size=1 face=Arial></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="38%"></TD>
     <TD width="57%"></TD>
     <TD width="4%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>See notes to financial statements</FONT>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Semiannual report | </FONT></B><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>15</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_12"></A><BR>
<a name="_bclPageBorder12"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: left"><FONT size=7 face=serif>Notes to financial statements</FONT><BR>
<B><FONT size=2 face=sans-serif>(unaudited)</FONT></B></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face=sans-serif>Note 1 &#151; Organization</FONT></B></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>John Hancock Bank and Thrift Opportunity Fund (the Fund) is a closed-end diversified management investment company registered under the Investment Company Act of 1940, as amended (the 1940 Act).</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face=sans-serif>Note 2 &#151; Significant accounting policies</FONT></B></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the Fund:</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=1 face=sans-serif>Security valuation. </FONT></B><FONT size=2 face=serif>Investments are stated at value as of the close of regular trading on the New&nbsp;York Stock Exchange (NYSE), normally at 4:00 <FONT size=1>P</FONT></FONT><FONT size=2 face=serif>.<FONT size=1>M</FONT></FONT><FONT size=2 face=serif>.</FONT><FONT size=2 face=serif>, Eastern Time. The Fund uses a three-tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities. Level 2 includes securities valued using significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Fund&#146;s own assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="4%"></TD>
     <TD width="95%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=sans-serif>16</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund </FONT><B><FONT size=1 face=sans-serif>| Semiannual report</FONT></B>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>


<A name="page_13"></A><BR>
<a name="_bclPageBorder13"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>The following is a summary of the values by input classification of the Fund&#146;s investments as of April 30, 2011, by major security category or type:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="20%"></TD>
     <TD width="5%"></TD>
     <TD width="5%"></TD>
     <TD width="10%"></TD>
     <TD width="20%"></TD>
     <TD width="20%"></TD>
     <TD width="20%"></TD></TR>
<TR>
     <TD></TD>
     <TD colSpan=2></TD>
     <TD></TD>
     <TD></TD>
     <TD></TD>
     <TD></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>LEVEL 2</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>LEVEL 3</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>SIGNIFICANT</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>SIGNIFICANT</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=3 noWrap align=right><FONT size=1 face=sans-serif>TOTAL MARKET</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>LEVEL 1</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>OBSERVABLE</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>UNOBSERVABLE</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=3 noWrap align=right><FONT size=1 face=sans-serif>VALUE AT 4-30-11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>QUOTED PRICE</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>INPUTS</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>INPUTS</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=7>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Common Stocks</FONT></B>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>Capital Markets</FONT>&nbsp;</TD>
     <TD colSpan=3 noWrap align=right><B><FONT size=1 face=sans-serif>$7,422,860</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$7,422,860</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>Commercial Banks</FONT>&nbsp;</TD>
     <TD colSpan=3 noWrap align=right><B><FONT size=1 face=sans-serif>280,081,354</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>270,371,098</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$5,836,080</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$3,874,176</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>Diversified Financial Services</FONT>&nbsp;</TD>
     <TD colSpan=3 noWrap align=right><B><FONT size=1 face=sans-serif>35,941,530</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>35,941,530</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>Thrifts &amp; Mortgage Finance</FONT>&nbsp;</TD>
     <TD colSpan=3 noWrap align=right><B><FONT size=1 face=sans-serif>26,462,490</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>26,462,490</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Preferred Securities</FONT></B>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>Commercial Banks</FONT>&nbsp;</TD>
     <TD colSpan=3 noWrap align=right><B><FONT size=1 face=sans-serif>2,688,013</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>2,134,605</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>553,408</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>Diversified Financial Services</FONT>&nbsp;</TD>
     <TD colSpan=3 noWrap align=right><B><FONT size=1 face=sans-serif>3,337,435</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>3,337,435</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Corporate Bonds</FONT></B>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>Commercial Banks</FONT>&nbsp;</TD>
     <TD colSpan=3 noWrap align=right><B><FONT size=1 face=sans-serif>533,721</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>533,721</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Capital Preferred Securities</FONT></B>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=1 face=sans-serif>Commercial Banks</FONT>&nbsp;</TD>
     <TD colSpan=3 noWrap align=right><B><FONT size=1 face=sans-serif>315,103</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>315,103</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Warrants</FONT></B>&nbsp;</TD>
     <TD colSpan=3 noWrap align=right><B><FONT size=1 face=sans-serif>1,500,922</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,500,922</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Certificate of Deposit</FONT></B>&nbsp;</TD>
     <TD colSpan=3 noWrap align=right><B><FONT size=1 face=sans-serif>64,409</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>64,409</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Short-Term Investments</FONT></B>&nbsp;</TD>
     <TD colSpan=3 noWrap align=right><B><FONT size=1 face=sans-serif>762,000</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>762,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD></TR>
<TR>
     <TD>&nbsp;</TD>
     <TD></TD>
     <TD colSpan=5>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Total Investments</FONT></B>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" width="20%" noWrap align=left><B><FONT size=1 face=sans-serif>in Securities</FONT></B>&nbsp;</TD>
     <TD width="20%" colSpan=3 noWrap align=right><B><FONT size=1 face=sans-serif>$359,109,837</FONT></B>&nbsp;</TD>
     <TD width="20%" noWrap align=right><B><FONT size=1 face=sans-serif>$347,170,940</FONT></B>&nbsp;</TD>
     <TD width="20%" noWrap align=right><B><FONT size=1 face=sans-serif>$7,511,313</FONT></B>&nbsp;</TD>
     <TD width="20%" noWrap align=right><B><FONT size=1 face=sans-serif>$4,427,584</FONT></B>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. During the six-month period ended April 30, 2011, there were no significant transfers in or out of Level 1 or Level 2 assets.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. Transfers in or out of Level 3 represent the beginning value of any security or instrument where a change in the level has occurred from the beginning to the end of the period.</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="25%"></TD>
     <TD width="25%"></TD>
     <TD width="25%"></TD>
     <TD width="25%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>INVESTMENTS IN SECURITIES</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>COMMON STOCKS</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>PREFERRED SECURITIES</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>TOTAL</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=4>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Balance as of 10-31-10</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$2,918,657</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$61,919</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$2,980,576</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Realized gain (loss)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Change in unrealized</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>appreciation (depreciation)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>955,519</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>491,489</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>1,447,008</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Purchases</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Sales</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Transfers into Level 3</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Transfers out of Level 3</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>&#151;</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Balance as of 4-30-11</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$3,874,176</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$553,408</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>$4,427,584</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Change in unrealized at period end*</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$955,519</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$491,489</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$1,447,008</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
<P style="TEXT-ALIGN: left"><FONT size=1 face=sans-serif>*Change in unrealized appreciation (depreciation) attributable to Level 3 securities held at the period end. This balance is included in the change in unrealized appreciation (depreciation) on the Statement of Operations.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>In order to value the securities, the Fund uses the following valuation techniques. Equity securities held by the Fund are valued at the last sale price or official closing price on the principal securities exchange on which they trade. In the event there were no sales during the day or closing prices are not available, then securities are valued using the last quoted bid or evaluated price. Debt obligations are valued based on the evaluated prices provided by an independent pricing service,</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="95%"></TD>
     <TD width="4%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Semiannual report | </FONT></B><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>17</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_14"></A><BR>
<a name="_bclPageBorder14"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>which utilizes both dealer-supplied and electronic data processing techniques, taking into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data. Certain securities traded only in the over-the-counter market are valued at the last bid price quoted by brokers making markets in the securities at the close of trading. Certain short-term securities are valued at amortized cost. Other portfolio securities and assets, where market quotations are not readily available, are valued at fair value, as determined in good faith by the Fund&#146;s Pricing Committee, following procedures established by the Board of Trustees.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=1 face=sans-serif>Security transactions and related investment income. </FONT></B><FONT size=2 face=serif>Investment security transactions are accounted for on a trade date plus one basis for daily net asset value calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation. Dividend income is recorded on the ex-date. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=1 face=sans-serif>Repurchase agreements. </FONT></B><FONT size=2 face=serif>The Fund may enter into repurchase agreements. When the Fund enters into a repurchase agreement, it receives collateral which is held in a segregated account by the Fund&#146;s custodian. The collateral amount is marked-to-market and monitored on a daily basis to ensure that the collateral held is in an amount not less than the principal amount of the repurchase agreement plus any accrued interest. In the event of a default by the counterparty, realization of the collateral proceeds could be delayed, during which time the collateral value may decline.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=1 face=sans-serif>Overdrafts. </FONT></B><FONT size=2 face=serif>Pursuant to the custodian agreement, the Fund&#146;s custodian may, in its discretion, advance funds to the Fund to make properly authorized payments. When such payments result in an overdraft, the Fund is obligated to repay the custodian for any overdraft, including any costs or expenses associated with the overdraft. The custodian has a lien, security interest or security entitlement in any Fund property, that is not segregated, to the maximum extent permitted by law to the extent of any overdraft.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=1 face=sans-serif>Expenses. </FONT></B><FONT size=2 face=serif>The majority of expenses are directly attributable to an individual fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and the fund&#146;s relative assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=1 face=sans-serif>Federal income taxes. </FONT></B><FONT size=2 face=serif>The Fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>As of October 31, 2010, the Fund had no uncertain tax positions that would require financial statement recognition, de-recognition or disclosure. The Fund&#146;s federal tax return is subject to examination by the Internal Revenue Service for a period of three years.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=1 face=sans-serif>Managed distribution plan. </FONT></B><FONT size=2 face=serif>On March 12, 2010, the Board of Trustees approved the adoption of a new managed distribution plan (the Distribution Plan). Under the Distribution Plan, the Fund will make quarterly distributions of an amount equal to 1.25% of the Fund&#146;s net asset value, based upon an annual rate of 5%, as of each measuring date. The amount of each quarterly distribution will be determined based on the net asset value of the Fund at the close of the NYSE on the last business day of the month ending two months prior to each quarterly declaration date.</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="4%"></TD>
     <TD width="95%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=sans-serif>18</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund </FONT><B><FONT size=1 face=sans-serif>| Semiannual report</FONT></B>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_15"></A><BR>
<a name="_bclPageBorder15"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>Distributions under the Distribution Plan may consist of net investment income, net realized capital gains and, to the extent necessary, return of capital. Return of capital distributions may be necessary when the Fund&#146;s net investment income and net capital gains are insufficient to meet the minimum percentage dividend. In addition, the Fund may also make additional distributions to avoid federal income and excise taxes. The final determinations of tax characteristics of the Fund&#146;s distributions will occur at the end of the year, at which time it will be reported to shareholders.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>The Board of Trustees may terminate the Distribution Plan at any time. The termination may have an adverse effect on the market price of the Fund&#146;s shares.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=1 face=sans-serif>Distribution of income and gains. </FONT></B><FONT size=2 face=serif>Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The Fund generally declares and pays dividends quarterly through its managed distribution plan described above.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>Such distributions, on a tax basis, are determined in conformity with income tax regulations, which&nbsp;may differ from accounting principles generally accepted in the United States of America. Material distributions in excess of tax basis earnings and profits, if any, are reported in the Fund&#146;s financial statements as a return of capital. The final determination of tax characteristics of the Fund&#146;s distribution will occur at the end of the year at which time it will be reported to shareholders. A portion of the distributions paid may be deemed a tax return of capital for the year ended October 31, 2011.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>Capital accounts within financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face=sans-serif>Note 3 &#151; Guarantees and indemnifications</FONT></B></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>Under the Fund&#146;s organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts with service providers that contain general indemnification clauses. The Fund&#146;s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss from such claims is considered remote.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face=sans-serif>Note 4 &#151; Fees and transactions with affiliates</FONT></B></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>John Hancock Advisers, LLC (the Adviser) serves as investment adviser for the Fund. The Adviser is an indirect wholly owned subsidiary of Manulife Financial Corporation (MFC).</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=1 face=sans-serif>Management Fee. </FONT></B><FONT size=2 face=serif>The Fund has an investment management contract with the Adviser under which the Fund pays a daily management fee to the Adviser at an annual rate of 1.15% of the Fund&#146;s average daily net assets. The Adviser has a subadvisory agreement with John Hancock Asset Management a division of Manulife Asset Management (US), LLC (formerly MFC Global Investment Management (U.S.), LLC), an indirect owned subsidiary of MFC and an affiliate of the Adviser. The Fund is not responsible for payment of the subadvisory fees.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>The investment management fees incurred for the six-months ended April 30, 2011 were equivalent to an annual effective rate of 1.15% of the Fund&#146;s average daily net assets.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=1 face=sans-serif>Accounting and legal services. </FONT></B><FONT size=2 face=serif>The Fund has an agreement with the Adviser and affiliates to perform necessary tax, accounting and legal services for the Fund. The compensation for the six-month period was at an annual rate of 0.25% of the average weekly net assets of the Fund. The Adviser agreed to limit the accounting and legal services fee to 0.10% of the Fund&#146;s average weekly net assets. Accordingly, the expense reductions related to accounting and legal services fees amounted to $275,099 for the six-months ended April 30, 2011. The Adviser reserves the right to</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="95%"></TD>
     <TD width="4%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Semiannual report | </FONT></B><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>19</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_16"></A><BR>
<a name="_bclPageBorder16"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>terminate this limitation in the future with the Trustees&#146; approval. The accounting and legal services fees incurred for the six-months ended April 30, 2011 amounted to an annual rate of 0.10% of the Fund&#146;s average daily net assets.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=1 face=sans-serif>Trustee expenses. </FONT></B><FONT size=2 face=serif>The Trust compensates each Trustee who is not an employee of the Adviser or its affiliates. These Trustees may, for tax purposes, elect to defer receipt of this compensation under the John Hancock Group of Funds Deferred Compensation Plan (the Plan). Deferred amounts are invested in various John Hancock funds and remain in the funds until distributed in accordance with the Plan. The investment of deferred amounts and the offsetting liability are included within Other receivables and prepaid expenses and Payable to affiliates &#151; Trustees&#146; fees, respectively, in the accompanying Statement of Assets and Liabilities.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face=sans-serif>Note 5 &#151; Fund share transactions</FONT></B></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>In May 2009, the Board of Trustees approved a share repurchase plan, which was subsequently reviewed and approved by the Board of Trustees each year in December. Under the share repurchase plan, the Fund may purchase in the open market up to 10% of its outstanding common shares. The plan will remain in effect between January 1, 2011 and December 31, 2011.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>During the six months ended April 30, 2011 and the year ended October 31, 2010, the Fund repurchased 401,138 and 803,485, respectively (1.96% and 3.86% of shares outstanding, respectively) of its common shares under the share repurchase program. The corresponding dollar amount of the share repurchase amounted to $6,580,808 and $12,088,382 during the six months ended April 30, 2011, and the year ended October 31, 2010, respectively.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face=sans-serif>Note 6 &#151; Purchase and sale of securities</FONT></B></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>Purchases and sales of securities, other than short-term securities, aggregated $35,249,813 and $55,357,976, respectively, for the six months ended April 30, 2011.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face=sans-serif>Note 7 &#151; Sector risk</FONT></B></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>Fund performance will be closely tied to a single sector of the economy, which may underperform other sectors over any given period of time. Financial services companies can be hurt by economic declines, changes in interest rates, regulatory and market impacts. Accordingly, this may make the Fund&#146;s investment performance more volatile and investment values may rise and fall more rapidly.</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="4%"></TD>
     <TD width="95%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=sans-serif>20</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund </FONT><B><FONT size=1 face=sans-serif>| Semiannual report</FONT></B>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_17"></A><BR>
<a name="_bclPageBorder17"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: left"><FONT size=4 face=sans-serif>Additional information</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=1 face=sans-serif>Unaudited</FONT></B></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face=sans-serif>Investment objective and policy</FONT></B></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>The Fund is a closed-end diversified management investment company, shares of which were initially offered to the public on August 23, 1994, and are publicly traded on the New York Stock Exchange. On December 7, 2010, the Fund&#146;s Trustees approved the following new investment objective for the Fund: The Fund&#146;s investment objective is to provide a high level of total return consisting of long-term capital appreciation and current income. The prior investment objective was long-term capital appreciation. On November 20, 2001, the Fund&#146;s Trustees approved the following investment policy changes effective December 15, 2001: Under normal circumstances, the Fund will invest at least 80% of its net assets in equity securities of U.S. regional banks and thrifts and holding companies that primarily own or receive a substantial portion of their income from regional banks or thrifts. &#147;Net assets&#148; is defined as net assets plus borrowings for investment purposes. &#147;Primarily owned&#148; means that the bank or financial holding company derives a substantial portion of its business from U.S. regional banks or thrifts as determined by the Adviser, based upon generally accepted measures such as revenues, asset size and number of employees. U.S. regional banks or thrifts are ones that provide full-service banking (i.e., savings accounts, checking accounts, commercial lending and real estate lending) and whose assets are primarily of domestic origin. The Fund will notify shareholders at least 60 days prior to any change in this 80% investment policy.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>The Fund may invest in investment-grade debt securities as well as debt securities rated BB or below by Standard &amp; Poor&#146;s Ratings group (Standard &amp; Poor&#146;s) or Ba or below by Moody&#146;s Investors Service, Inc. (Moody&#146;s) or, if unrated by such rating organizations, determined by the Adviser to be of comparable quality.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>On December 7, 2010, the Fund&#146;s Trustees approved certain investment policy changes, as summarized below:</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>(i) investment policy stating that &#147;Under normal market conditions, the Fund may invest up to 25% of its total assets in the equity securities of financial services companies, companies with significant lending operations, foreign banking, lending and financial services companies, &#147;money center&#148; banks and debt securities issued by U.S. regional banks, thrifts or their holding companies selected primarily for capital appreciation potential.&#148; was replaced with the following: &#147;Under normal market conditions, the Fund may invest up to 20% of its net assets in the equity securities of financial services companies, companies with significant lending operations, foreign banking, lending and financial services companies, &#147;money center&#148; banks and debt securities issued by U.S. regional banks, thrifts or their holding companies.&#148;;</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>(ii) investment policy stating that &#147;The equity securities in which the Fund may invest are common stocks, preferred stocks, warrants, stock purchase rights, securities convertible into other equity securities. Although the Fund will purchase equity securities principally for capital appreciation, such investments may also produce dividends and other income.&#148; was replaced with the following: &#147;The equity securities in which the Fund may invest are common stocks, preferred stocks, warrants, stock purchase rights, securities convertible into other equity securities.&#148;;</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="95%"></TD>
     <TD width="4%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Semiannual report | </FONT></B><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>21</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_18"></A><BR>
<a name="_bclPageBorder18"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>(iii) investment policy stating that &#147;The Fund intends to invest primarily in the equity securities of U.S. regional banks, thrifts and holding companies with assets of less than $30 billion and to emphasize over time investments in U.S. regional banks, thrifts and their holding companies with assets of $3 billion or less. The Adviser believes that such small to medium size banks and thrifts offer better opportunity for longer-term capital appreciation than do larger banks, thrifts and their holding companies. Over time, the Fund may change its investment emphasis in response to, among other factors, consolidations in the banking and thrift industry and the Adviser&#146;s view as to opportunities for capital appreciation.&#148; was replaced with the following: &#147;The Fund intends to invest in the equity securities of U.S. regional banks, thrifts and holding companies of any size.&#148;; and</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>(iv) investment policy stating that &#147;The Fund may write and purchase call and put options on securities and securities indices provided that the value of options purchased by the Fund, together with the obligations of the Fund under options written by the Fund, other than options written or purchased for hedging purposes and call options written &#147;against-the box,&#148; does not exceed 5% of the Fund&#146;s total assets at the time of such purchase or writing.&#148; was replaced with the following: &#147;The Fund may write and purchase call and put options on securities and securities indices. The Fund typically will limit notional exposure of the options to 5% of the value of the Fund&#146;s portfolio securities, although this amount is expected to vary over time based upon U.S. equity market conditions and other factors.&#148;</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>On March 9, 2011, the Board of Trustees approved certain investment policy changes, as summarized below:</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>(i) investment policy stating that &#147;Under normal market conditions, the Fund may invest up to 20% of its net assets in the equity securities of financial services companies, companies with significant lending operations, foreign banking, lending and financial services companies, &#147;money center&#148; banks and debt securities issued by U.S. regional banks, thrifts or their holding companies.&#148; was replaced with the following: &#147;Under normal market conditions, the Fund may invest up to 20% of its net assets in the common and preferred equity securities and other preferred securities of financial services companies, companies with significant lending operations, foreign banking, lending and financial services companies, &#147;money center&#148; banks and debt securities issued by U.S. regional banks, thrifts or their holding companies.&#148;; and</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>(ii) investment policy stating that &#147;The Fund may invest up to 20% of its total assets in equity securities of foreign banking, lending and financial services companies, including securities quoted in foreign currencies.&#148; was replaced with the following: &#147;The Fund may invest up to 20% of its total assets in common and preferred equity securities and other preferred securities of foreign banking, lending and financial services companies, including securities quoted in foreign currencies.&#148;</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face=sans-serif>Bylaws</FONT></B></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>On November 19, 2002, the Board of Trustees adopted several amendments to the Fund&#146;s bylaws, including provisions relating to the calling of a special meeting and requiring advance notice of shareholder proposals or nominees for Trustee. The advance notice provisions in the bylaws require shareholders to notify the Fund in writing of any proposal that they intend to present at an annual meeting of shareholders, including any nominations for Trustee, between 90 and 120&nbsp;days prior to the first anniversary of the mailing date of the notice from the prior year&#146;s annual meeting of shareholders. The notification must be in the form prescribed by the bylaws. The advance notice provisions provide the Fund and its Trustees with the opportunity to thoughtfully consider and address the matters proposed before the Fund prepares and mails its proxy statement to shareholders. Other amendments set forth the procedures that must be followed in order for a shareholder to call a special meeting of&nbsp;shareholders.</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="4%"></TD>
     <TD width="95%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=sans-serif>22</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund </FONT><B><FONT size=1 face=sans-serif>| Semiannual report</FONT></B>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_19"></A><BR>
<a name="_bclPageBorder19"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>Effective September 9, 2008, the Fund&#146;s bylaws were amended with respect to notice requirements for Trustee nominations and other proposals by the Fund&#146;s shareholders. These provisions require the disclosure of the nominating shareholder and the nominee&#146;s investment interests as they relate to the Fund, as well as the name of any other shareholder supporting the nominee for election as a Trustee or the proposal of other business. In order for notice to be proper, such notice must disclose the economic interests of the nominating shareholder and nominee, including his or her holdings of shares in the Fund, the intent upon which those shares were acquired, and any hedging arrangements (including leveraged or short positions) made with respect to the shares of the Fund. Additionally, any material interest that the shareholder has in the business to be brought before the meeting must be disclosed.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>Please contact the Secretary of the Fund for additional information about the advance notice requirements or the other amendments to the bylaws.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face=sans-serif>Dividends and distributions</FONT></B></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>During the six-month period ended April 30, 2011, dividends from net investment income totaling $0.4493 per share were paid to shareholders. The dates of payments and the amounts per share were as follows:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="20%"></TD>
     <TD width="20%"></TD>
     <TD width="20%"></TD>
     <TD width="20%"></TD>
     <TD width="20%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>PAYMENT DATE</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>DISTRIBUTIONS</FONT><SUP><FONT size=1 face=sans-serif>1</FONT></SUP>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR>
     <TD colSpan=2>
<HR SIZE=1 noShade>
</TD>
     <TD></TD>
     <TD></TD>
     <TD></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>December 31, 2010</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>$0.2113</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>March 31, 2011</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif>0.2380</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif><B>Total</B></FONT><B>&nbsp;</B></TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif><B>$0.4493</B></FONT><B>&nbsp;</B></TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif></FONT></TD>
     <TD noWrap align=right><FONT size=1 face=sans-serif></FONT></TD></TR></TABLE></DIV>
<P style="MARGIN: 0px"><SUP><FONT size=1 face=sans-serif><BR>
<BR>
1 </FONT></SUP><FONT size=1 face=sans-serif>A portion of the distributions may be deemed a tax return of capital at year-end.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face=sans-serif>Dividend reinvestment plan</FONT></B></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>The Board of Trustees approved certain amendments to the Fund&#146;s Dividend Reinvestment Plan. </FONT><FONT size=2 face=serif>The Dividend Reinvestment Plan that is in effect as of July 1, 2011 is described below.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>Pursuant to the Fund&#146;s Dividend Reinvestment Plan (the Plan), distributions of dividends and capital gains are automatically reinvested in common shares of the Fund by The Bank of New York Mellon (the Plan Agent). Every shareholder holding at least one full share of the Fund is entitled to participate in the Plan. In addition, every shareholder who became a shareholder of the Fund after June 30, 2011 and holds at least one full share of the Fund will be automatically enrolled in the Plan. Shareholders who do not participate in the Plan will receive all distributions in cash.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>If the Fund declares a dividend or distribution, participants will receive shares purchased by the Plan Agent on participants&#146; behalf on the New York Stock Exchange (the NYSE) or otherwise on the open market. Whenever shares are purchased or sold on the NYSE or otherwise on the open market, each participant will pay a pro rata portion of brokerage trading fees, currently $0.05 per share purchased or sold. Brokerage trading fees will be deducted from amounts to be invested.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>The reinvestment of dividends and net capital gains distributions does not relieve participants of any income tax that may be payable on such dividends or distributions.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>Shareholders participating in the Plan may buy additional shares of the Fund through the Plan at any time in amounts of at least $50 per investment, up to a maximum of $10,000, with a total calendar year limit of $100,000. Shareholders will be charged a $5 transaction fee plus $0.05 per share brokerage trading fee for each order. Purchases of additional shares of the Fund will be made on the open market. Shareholders who elect to utilize monthly electronic fund transfers to buy additional shares of the Fund will be charged a $2 transaction fee plus $0.05 per share brokerage</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="95%"></TD>
     <TD width="4%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Semiannual report | </FONT></B><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>23</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_20"></A><BR>
<a name="_bclPageBorder20"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>trading fee for each automatic purchase. Shareholders can also sell Fund shares held in the Plan account at any time by contacting the Plan Agent by telephone, in writing or by visiting the Plan Agent&#146;s Web site at www.bnymellon.com/shareowner/equityaccess. The Plan Agent will mail a check to you (less applicable brokerage trading fees) on settlement date, which is three business days after your shares have been sold. If you choose to sell your shares through your stockbroker, you will need to request that the Plan Agent electronically transfer your shares to your stockbroker through the Direct Registration System.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>Shareholders participating in the Plan may withdraw from the Plan at any time by contacting the&nbsp;Plan Agent by telephone, in writing or by visiting the Plan Agent&#146;s Web site at www.bnymellon.com/shareowner/equityaccess. Such termination will be effective immediately if the notice is received by the Plan Agent prior to any dividend or distribution record date; otherwise, such termination will be effective on the first trading day after the payment date for such dividend or distribution, with respect to any subsequent dividend or distribution. If you withdraw, your shares will be credited to your account; or, if you wish, the Plan Agent will sell your full and fractional shares and send you the proceeds, less a transaction fee of $5.00 and less brokerage trading fees of $0.05 per share. If a shareholder does not maintain at least one whole share of common stock in the Plan account, the Plan Agent may terminate such shareholder&#146;s participation in the Plan after written notice. Upon termination, shareholders will be sent a check for the cash value of any fractional share in the Plan account, less any applicable broker commissions and taxes.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>Shareholders who hold at least one full share of the Fund may join the Plan by notifying the&nbsp;Plan&nbsp;Agent by telephone, in writing or by visiting the Plan Agent&#146;s Web site at www.bnymellon.com/shareowner/equityaccess. If received in proper form by the Plan Agent before the record date of a dividend, the election will be effective with respect to all dividends paid after such record date. If you wish to participate in the Plan and your shares are held in the name of a brokerage firm, bank or other nominee, please contact your nominee to see if it will participate in the Plan for you. If you wish to participate in the Plan, but your brokerage firm, bank or other nominee is unable to participate on your behalf, you will need to request that your shares be re-registered in your own name, or you will not be able to participate. The Plan Agent will administer the Plan on the basis of the number of shares certified from time to time by you as representing the total amount registered in your name and held for your account by your nominee.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>Experience under the Plan may indicate that changes are desirable. Accordingly, the Fund and the Plan Agent reserve the right to amend or terminate the Plan. Participants generally will receive written notice at least 90 days before the effective date of any amendment. In the case of termination, participants will receive written notice at least 90 days before the record date for the payment of any dividend or distribution by the Fund.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>All correspondence or additional information about the Plan should be directed to The Bank of&nbsp;New York Mellon, c/o BNY Mellon Shareowner Services, c/o Mellon Investor Services, P.O. Box 358035, Pittsburgh, PA 15252-8035 (Telephone: 1-800-852-0218 (within the U.S. and Canada), 1-201-680-6578 (International Telephone Inquiries), and 1-800-231-5469 (For the Hearing Impaired (TDD)).</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="4%"></TD>
     <TD width="95%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=sans-serif>24</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund </FONT><B><FONT size=1 face=sans-serif>| Semiannual report</FONT></B>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_21"></A><BR>
<a name="_bclPageBorder21"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: left"><B><FONT size=2 face=sans-serif>Shareholder communication and assistance</FONT></B></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>If you have any questions concerning the Fund, we will be pleased to assist you. If you hold shares in your own name and not with a brokerage firm, please address all notices, correspondence, questions or other communications regarding the Fund to the transfer agent at:</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=1 face=sans-serif><B>Mellon Investor Services</B></FONT><BR>
<FONT size=1 face=sans-serif><B>Newport Office Center VII</B></FONT><BR>
<FONT size=1 face=sans-serif><B>480 Washington Boulevard</B></FONT><BR>
<FONT size=1 face=sans-serif><B>Jersey City, NJ 07310</B></FONT><BR>
<FONT size=1 face=sans-serif><B>Telephone: 1-800-852-0218</B></FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>If your shares are held with a brokerage firm, you should contact that firm, bank or other nominee for assistance.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face=sans-serif>Shareholder meeting</FONT></B></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>The Fund held its Annual Meeting of Shareholders on January 21, 2011. The following proposal was considered by the shareholders:</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face=serif>Proposal: </FONT></B><FONT size=2 face=serif>Election of three (3) Trustees to serve for a three-year term ending at the Annual Meeting of Shareholders in 2014. The votes cast with respect to each Trustee are set forth below.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face=serif>THE PROPOSAL </FONT></B><B><FONT size=2 face=serif><U>PASSED</U> </FONT></B><B><FONT size=2 face=serif>ON JANUARY 21, 2011.</FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="33%"></TD>
     <TD width="33%"></TD>
     <TD width="33%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>TOTAL VOTES</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>TOTAL VOTES WITHHELD</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>FOR THE NOMINEE</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>FROM THE NOMINEE</FONT>&nbsp;</TD></TR>
<TR>
     <TD colSpan=3>
<HR SIZE=1 noShade>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=serif>James F. Carlin</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>15,987,714</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>1,486,089</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=serif>William H. Cunningham</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>15,992,879</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>1,550,924</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=serif>Gregory A. Russo</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>15,997,409</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>1,476,394</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=serif>The following eight Trustees were not up for election and remain in office: Deborah C. Jackson, Charles L. Ladner, Stanley Martin, Patti McGill Peterson, Hugh McHaffie, John A. Moore, Steven R. Pruchansky and John G. Vrysen.</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="95%"></TD>
     <TD width="4%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=right><B><FONT size=1 face=sans-serif>Semiannual report | </FONT></B><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>25</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_22"></A><BR>
<a name="_bclPageBorder22"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: left"><FONT size=7 face=serif>More information</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="29%"></TD>
     <TD width="35%"></TD>
     <TD width="34%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Trustees</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Officers</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Investment adviser</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=serif>Steven R. Pruchansky,</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>Keith F. Hartstein</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>John Hancock Advisers, LLC</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><I><FONT size=2 face=serif>Chairperson</FONT></I>&nbsp;</TD>
     <TD noWrap align=left><I><FONT size=2 face=serif>President and</FONT></I>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=serif>James F. Carlin</FONT>&nbsp;</TD>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><I><FONT size=2 face=serif>Chief Executive Officer</FONT></I>&nbsp;</TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Subadviser</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=serif>William H. Cunningham</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>John Hancock Asset Management</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=serif>Deborah C. Jackson</FONT><FONT size=1 face=sans-serif>*</FONT></TD>
     <TD noWrap align=left><FONT size=2 face=serif>Andrew G. Arnott</FONT>&nbsp;</TD>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=2 face=serif>(formerly MFC Global</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=serif>Charles L. Ladner,</FONT><FONT size=1 face=sans-serif>*</FONT></TD>
     <TD noWrap align=left><I><FONT size=2 face=serif>Senior Vice President</FONT></I>&nbsp;</TD>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=2 face=serif><FONT size=2 face=serif>Investment Management</FONT></FONT></TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><I><FONT size=2 face=serif>Vice&nbsp;Chairperson</FONT></I></TD>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><I><FONT size=2 face=serif>and Chief Operating Officer</FONT></I>&nbsp;</TD>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=2 face=serif><FONT size=2 face=serif>(U.S.), LLC)</FONT></FONT></TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 0px" noWrap align=left><FONT size=2 face=serif>Stanley Martin</FONT><FONT size=1 face=sans-serif>*</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=serif>Hugh McHaffie</FONT><FONT size=1 face=sans-serif>&#134;</FONT></TD>
     <TD noWrap align=left><FONT size=2 face=serif>Thomas M. Kinzler</FONT></TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Custodian</FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=serif>Dr. John A. Moore</FONT></TD>
     <TD noWrap align=left><I><FONT size=2 face=serif>Secretary and Chief Legal Officer</FONT></I>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>State Street Bank and</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=serif>Patti McGill Peterson</FONT><FONT size=1 face=sans-serif>*</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=2 face=serif>Trust Company</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=serif>Gregory A. Russo</FONT></TD>
     <TD noWrap align=left><FONT size=2 face=serif>Francis V. Knox, Jr.</FONT>&nbsp;</TD>
     <TD style="TEXT-INDENT: 0px" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=serif>John G. Vrysen</FONT><FONT size=1 face=sans-serif>&#134;</FONT></TD>
     <TD noWrap align=left><I><FONT size=2 face=serif>Chief Compliance Officer</FONT></I>&nbsp;</TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Transfer agent</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face=serif>Mellon Investor Services</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>*Member of the</FONT></TD>
     <TD noWrap align=left><FONT size=2 face=serif>Charles A. Rizzo</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Audit Committee</FONT></TD>
     <TD noWrap align=left><I><FONT size=2 face=serif>Chief Financial Officer</FONT></I></TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Legal counsel</FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD style="TEXT-INDENT: 1px" noWrap align=left><FONT size=1 face=sans-serif>&#134;Non-Independent Trustee</FONT></TD>
     <TD noWrap align=left><FONT size=2 face=serif>&nbsp;</FONT></TD>
     <TD noWrap align=left><FONT size=2 face=serif>K&amp;L Gates LLP</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left></TD>
     <TD noWrap align=left><FONT size=2 face=serif>Salvatore Schiavone</FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><I><FONT size=2 face=serif>Treasurer</FONT></I>&nbsp;</TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Stoc<B><FONT size=1 face=sans-serif>k symbol</FONT></B></FONT></B></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif><FONT size=2 face=serif>Listed New York Stock</FONT></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD style="TEXT-INDENT: 12px" noWrap align=left><FONT size=2 face=serif><FONT size=2 face=serif><FONT size=2 face=serif>Exchange: BTO</FONT></FONT></FONT></TD></TR>
<TR height=20>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left><FONT size=2 face=serif><FONT size=2 face=serif></FONT></FONT></TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
<P style="TEXT-ALIGN: left"><B><FONT size=1 face=sans-serif>For shareholder assistance refer to page 25</FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="33%"></TD>
     <TD width="33%"></TD>
     <TD width="33%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=1 face=sans-serif>You can also contact us:</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>1-800-852-0218</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>Regular mail:</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><B><FONT size=1 face=sans-serif>jhfunds.com</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Mellon Investor Services</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Newport Office Center VII</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>480 Washington Boulevard</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Jersey City, NJ 07310</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
<P style="TEXT-ALIGN: left"><FONT size=1 face=sans-serif>The Fund&#146;s proxy voting policies and procedures, as well as the Fund&#146;s proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) Web site at www.sec.gov or on our Web site.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=1 face=sans-serif>The Fund&#146;s complete list of portfolio holdings, for the first and third fiscal quarters, is filed with the SEC on Form&nbsp;N-Q. The Fund&#146;s Form N-Q is available on our Web site and the SEC&#146;s Web site, www.sec.gov, and can be reviewed and copied (for a fee) at the SEC&#146;s Public Reference Room in Washington, DC. Call 1-800-SEC-0330 to&nbsp;receive information on the operation of the SEC&#146;s Public Reference Room.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=1 face=sans-serif>We make this information on your fund, as well as </FONT><B><FONT size=1 face=sans-serif>monthly portfolio holdings</FONT></B><FONT size=1 face=sans-serif>, and other fund details available on our Web site www.jhfunds.com or by calling 1-800-852-0218.</FONT></P>
<P style="TEXT-ALIGN: left"><I><FONT size=2 face=serif>The report is certified under the Sarbanes-Oxley Act, which requires mutual funds and other public companies to affirm that, to the best of their knowledge, the information in their financial reports is fairly and accurately stated in all material respects.</FONT></I></P>
<P style="TEXT-ALIGN: left"><I><FONT size=2 face=serif>The Fund is listed for trading on the NYSE and has filed with the NYSE its chief executive officer certification regarding compliance with the NYSE&#146;s listing standards. The Fund also files with the SEC the certification of its chief executive officer and chief financial officer required by Section 302 of the Sarbanes-Oxley Act.</FONT></I></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="4%"></TD>
     <TD width="95%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=sans-serif>26</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=1 face=sans-serif>Bank and Thrift Opportunity Fund </FONT><B><FONT size=1 face=sans-serif>| Semiannual report</FONT></B>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<P>
<A name="page_23"></A></P>
<P><BR>
&nbsp;</P>
<a name="_bclPageBorder23"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P align=left>
<IMG border=0 src="bnkthriftoppx23x1.jpg">
</P>
<BR>
<P style="TEXT-ALIGN: left"><FONT size=1 face=sans-serif>1-800-852-0218</FONT><BR>
<FONT size=1 face=sans-serif>1-800-231-5469 TDD</FONT><BR>
<FONT size=1 face=sans-serif>1-800-843-0090 EASI-Line</FONT><BR>
<FONT size=1 face=sans-serif>www.</FONT><FONT size=1 face=sans-serif>jhfunds.</FONT><FONT size=1 face=sans-serif>com</FONT></FONT><FONT size=1 face=sans-serif></FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>PRESORTED</FONT><BR>
<FONT size=2 face=sans-serif>STANDARD</FONT><BR>
<FONT size=2 face=sans-serif>U.S. </FONT><FONT size=2 face=sans-serif>POSTAGE</FONT><BR>
<FONT size=2 face=sans-serif>PAID</FONT><BR>
<FONT size=2 face=sans-serif>MIS</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="100%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=right><FONT size=1 face=sans-serif>P90SA 4/11</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=right><FONT size=1 face=sans-serif>6/11</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>









































<!--$$/page=-->
<A name="page_1"></A><BR>
<a name="_bclPageBorder1"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>ITEM 2. CODE OF ETHICS.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>Not applicable at this time.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>Not applicable at this time.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>Not applicable at this time.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>Not applicable at this time.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>ITEM 6. SCHEDULE OF INVESTMENTS.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(a) Not applicable.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>(b) Not applicable.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>Not applicable.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>COMPANIES.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>Not applicable.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>INVESTMENT COMPANY AND AFFILIATED PURCHASERS.</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="20%"></TD>
     <TD width="20%"></TD>
     <TD width="20%"></TD>
     <TD width="20%"></TD>
     <TD width="20%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=2 noWrap align=left><B><FONT size=3 face=sans-serif>REGISTRANT PURCHASES OF</FONT></B></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=2 noWrap align=left><B><FONT size=3 face=sans-serif>EQUITY SECURITIES</FONT></B></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR>
     <TD colSpan=5>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>Total Number</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>Maximum</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>of</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>Number</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>Shares</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>of Shares</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>Purchased</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>that May</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>Total</FONT></B>&nbsp;</TD>
     <TD noWrap align=right></TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>as Part of</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>Yet Be</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>Number of</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>Average</FONT></B>&nbsp; </TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>Publicly</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>Purchased</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>Shares</FONT></B>&nbsp;</TD>
     <TD noWrap align=right>&nbsp;<B><FONT size=2 face=sans-serif>Price</FONT></B>&nbsp; </TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>Announced</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>Under the</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=2 face=sans-serif>Period</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>Purchased</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>per Share</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>Plans*</FONT></B>&nbsp;</TD>
     <TD noWrap align=right><B><FONT size=2 face=sans-serif>Plans</FONT></B>&nbsp;</TD></TR>
<TR>
     <TD colSpan=5>
<HR SIZE=1 noShade>
</TD></TR>
<TR>
     <TD colSpan=5>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=sans-serif>Nov-10</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>188,265</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>15.473</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>991,750</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>1,134,270</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=sans-serif>Dec-10</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>85,136</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>17.118</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>1,076,886</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>1,973,241*</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=sans-serif>Jan-11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>47,600</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>17.782</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>1,124,486</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>1,925,641</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=sans-serif>Feb-11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>0</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>0</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>1,124,486</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>1,925,641</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=sans-serif>Mar-11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>58,514</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>17.005</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>1,183,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>1,867,127</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=sans-serif>Apr-11</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>21,623</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>17.064</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>1,204,623</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>1,845,504</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face=sans-serif>Total</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>401,138</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face=sans-serif>16.405</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_2"></A><BR>
<a name="_bclPageBorder2"></a><P style="TEXT-ALIGN: left; PADDING-LEFT: 0%; PADDING-RIGHT: 0%">__________________________________________________________</P>
<a name="_bclPageBorder2"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%"><FONT size=3 face=serif></FONT></DIV>
<a name="_bclPageBorder2"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT size=3 face=serif>*</FONT><FONT size=2 face=serif>In May 2009, the Board of Trustees approved a share repurchase plan, which was subsequently reviewed and approved by the Board of Trustees each year in December. Under the share repurchase plan, the Fund may purchase in the open market up to 10% of its outstanding common shares. The plan will remain in effect between January 1, 2011 and December 31, 2011.</FONT></DIV>
<a name="_bclPageBorder2"></a><P style="TEXT-ALIGN: left; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT size=2 face=sans-serif>ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.</FONT></P>
<a name="_bclPageBorder2"></a><P style="TEXT-ALIGN: left; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT size=2 face=sans-serif>There were no material changes to previously disclosed John Hancock Funds &#150; Governance Committee Charter.</FONT></P>
<a name="_bclPageBorder2"></a><P style="TEXT-ALIGN: left; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT size=2 face=sans-serif>ITEM 11. CONTROLS AND PROCEDURES.</FONT></P>
<a name="_bclPageBorder2"></a><P style="TEXT-ALIGN: left; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT size=2 face=sans-serif>(a) Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within 90 days of the filing date of this Form N-CSR, the registrant's principal executive officer and principal financial officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.</FONT></P>
<a name="_bclPageBorder2"></a><P style="TEXT-ALIGN: left; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT size=2 face=sans-serif>(b) There were no changes in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal half-year (the registrant's second fiscal half-year in the case of an annual report) that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.</FONT></P>
<a name="_bclPageBorder2"></a><P style="TEXT-ALIGN: left; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT size=2 face=sans-serif>ITEM 12. EXHIBITS.</FONT></P>
<a name="_bclPageBorder2"></a><P style="TEXT-ALIGN: left; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT size=2 face=sans-serif>(a) Separate certifications for the registrant's principal executive officer and principal financial officer, as required by Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are attached.</FONT></P>
<a name="_bclPageBorder2"></a><P style="TEXT-ALIGN: left; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT size=2 face=sans-serif>(b) Separate certifications for the registrant's principal executive officer and principal financial officer, as required by 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, and Rule 30a-2(b) under the Investment Company Act of 1940, are attached. The certifications furnished pursuant to this paragraph are not deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section. Such certifications are not deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent that the Registrant specifically incorporates them by reference.</FONT></P>
<a name="_bclPageBorder2"></a><P style="TEXT-ALIGN: left; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT size=2 face=sans-serif>(c)(1) Submission of Matters to a Vote of Security Holders is attached. See attached &#147;John Hancock Funds &#150; Governance Committee Charter&#148;.</FONT></P>
<a name="_bclPageBorder2"></a><P style="TEXT-ALIGN: left; PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT size=2 face=sans-serif>(c)(2) Contact person at the registrant.</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<!--$$/page=-->
<A name="page_3"></A><BR>
<a name="_bclPageBorder3"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="100%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><FONT size=2 face=sans-serif>SIGNATURES</FONT>&nbsp;</TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>John Hancock Bank and Thrift Opportunity Fund</FONT><BR>
<BR>
<FONT size=2 face=sans-serif>By:</FONT><BR>
<BR>
<U><FONT size=2 face=sans-serif>/s/ Keith F. Hartstein</FONT></U><BR>
<FONT size=2 face=sans-serif>Keith F. Hartstein</FONT><BR>
<FONT size=2 face=sans-serif>President and</FONT><BR>
<FONT size=2 face=sans-serif>Chief Executive Officer</FONT><BR>
<BR>
<FONT size=2 face=sans-serif>Date: June 20, 2011</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=sans-serif>By:</FONT><BR>
<BR>
<U><FONT size=2 face=sans-serif>/s/ Keith F. Hartstein</FONT></U><BR>
<FONT size=2 face=sans-serif>Keith F. Hartstein</FONT><BR>
<FONT size=2 face=sans-serif>President and</FONT><BR>
<FONT size=2 face=sans-serif>Chief Executive Officer</FONT><BR>
<BR>
<FONT size=2 face=sans-serif>Date: June 20, 2011</FONT><BR>
<BR>
<FONT size=2 face=sans-serif>By:</FONT><BR>
<BR>
<U><FONT size=2 face=sans-serif>/s/ Charles A. Rizzo</FONT></U><BR>
<FONT size=2 face=sans-serif>Charles A. Rizzo</FONT><BR>
<FONT size=2 face=sans-serif>Chief Financial Officer</FONT><BR>
<BR>
<FONT size=2 face=sans-serif>Date: June 20, 2011</FONT></P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>




























</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>b_bankthriftcert.htm
<DESCRIPTION>CERTIFICATION
<TEXT>

<HTML>
<HEAD>
   <TITLE>b_bankthriftcert.htm</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">


<!--$$/page=-->
<A name="page_1"></A><BR>

<a name="_bclPageBorder1"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<P style="text-align: left;">
<B><U><FONT size=2 face="sans-serif">CERTIFICATION</FONT></U></B></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">I, Keith F. Hartstein, certify that:</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">1. I have reviewed this report on Form N-CSR of the John Hancock Bank and Thrift Opportunity Fund (the &#147;registrant&#148;);</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal half-year (the registrant's second fiscal half-year in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">Date: </FONT><U><FONT size=2 face="sans-serif">June 20, 2011</FONT></U><BR>
<BR>
<U><FONT size=2 face="sans-serif">/s/ Keith F. Hartstein</FONT></U><BR>
<FONT size=2 face="sans-serif">Keith F. Hartstein</FONT><BR>
<FONT size=2 face="sans-serif">President and</FONT><BR>
<FONT size=2 face="sans-serif">Chief Executive Officer</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size=2>



<!--$$/page=-->
<A name="page_2"></A><BR>

<a name="_bclPageBorder2"></a><DIV STYLE="WIDTH: 100%; PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<P style="text-align: left;">
<B><U><FONT size=2 face="sans-serif">CERTIFICATION</FONT></U></B></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">I, Charles A. Rizzo, certify that:</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">1. I have reviewed this report on Form N-CSR of the John Hancock Bank and Thrift Opportunity Fund (the &#147;registrant&#148;);</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal half-year (the registrant's second fiscal half-year in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</FONT></P>
<P style="text-align: left;">
<FONT size=2 face="sans-serif">Date: </FONT><U><FONT size=2 face="sans-serif">June 20, 2011</FONT></U><BR>
<BR>
<U><FONT size=2 face="sans-serif">/s/ Charles A. Rizzo</FONT></U><BR>
<FONT size=2 face="sans-serif">Charles A. Rizzo</FONT><BR>
<FONT size=2 face="sans-serif">Chief Financial Officer</FONT></P>
</DIV>

<HR noshade align="center" width="100%" size=2>


</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.906 CERT
<SEQUENCE>3
<FILENAME>c_bankthriftcertnos.htm
<DESCRIPTION>CERTIFICATION 906
<TEXT>

<HTML>
<HEAD>
   <TITLE>c_bankthriftcertnos.htm</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

<!--$$/page=-->
<A name="page_1"></A><BR>
<a name="_bclPageBorder1"></a><DIV style="PADDING-LEFT: 0%; WIDTH: 100%; PADDING-RIGHT: 0%">
<DIV align=left>
<TABLE style="WIDTH: 80%" border=0 cellSpacing=0>
<TR>
     <TD width="100%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><B><FONT size=3 face=sans-serif>Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=center><B><FONT size=3 face=sans-serif>Section 906 of the Sarbanes-Oxley Act of 2002</FONT></B></TD></TR></TABLE></DIV>
<P style="MARGIN: 0px">&nbsp;</P>
<P style="TEXT-ALIGN: left"><FONT size=3 face=sans-serif>In connection with the attached Report of John Hancock Bank and Thrift Opportunity Fund (the &#147;registrant&#148;) on Form N-CSR to be filed with the Securities and Exchange Commission (the "Report"), each of the undersigned officers of the registrant does hereby certify that, to the best of such officer's knowledge:</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=3 face=sans-serif>1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=3 face=sans-serif>2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant as of, and for, the periods presented in the Report.</FONT></P>
<P style="TEXT-ALIGN: left"><U><FONT size=2 face=sans-serif>/s/ Keith F. Hartstein</FONT></U><BR>
<FONT size=2 face=sans-serif>Keith F. Hartstein</FONT><BR>
<FONT size=2 face=sans-serif>President and Chief Executive Officer</FONT><BR>
<BR>
<FONT size=3 face=sans-serif>Date: June 20, 2011</FONT><BR>
<BR>
<FONT size=3 face=sans-serif>By:</FONT><BR>
<BR>
<U><FONT size=2 face=sans-serif>/s/ Charles A. Rizzo</FONT></U><BR>
<FONT size=2 face=sans-serif>Charles A. Rizzo</FONT><BR>
<FONT size=2 face=sans-serif>Chief Financial Officer</FONT><BR>
<BR>
<FONT size=3 face=sans-serif>Dated: June 20, 2011</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=3 face=sans-serif>A signed original of this written statement, required by Section 906, has been provided to the registrant and will be retained by the registrant and furnished to the Securities and Exchange Commission or its staff upon request.</FONT></P>
</DIV>
<HR align=center SIZE=2 width="100%" noShade>

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>d_governancecommcharter.htm
<DESCRIPTION>GOVERNANCE COMMITTEE CHARTER
<TEXT>

<HTML>
<HEAD>
   <TITLE>d_governancecommcharter_120908.htm</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

<!--$$/page=-->
<A name="page_1"></A>
<TABLE cellSpacing=0 cellPadding=0 width="80%" border=0>
<TR>
     <TD width="99%"></TD></TR>
<TR vAlign=bottom>
     <TD align=center><B><FONT face=sans-serif size=2>JOHN HANCOCK FUNDS</FONT></B> </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><B><FONT face=sans-serif size=2>NOMINATING, GOVERNANCE AND ADMINISTRATION COMMITTEE CHARTER</FONT></B>&nbsp; </TD></TR></TABLE><BR>
<P align=left><FONT face=sans-serif size=2>A. </FONT><U><FONT face=sans-serif size=2>Composition</FONT></U><FONT face=sans-serif size=2>. The Nominating, Governance and Administration Committee (the &#147;Committee&#148;) shall be composed entirely of Trustees who are &#147;independent&#148; as defined in the rules of the New York Stock Exchange (&#147;NYSE&#148;) or any other exchange, as applicable, and are not &#147;interested persons&#148; as defined in the Investment Company Act of 1940 of any of the funds, or of any fund&#146;s investment adviser or principal underwriter (the &#147;Independent Trustees&#148;) who are designated for membership from time to time by the Board of Trustees. The Chairman of the Board shall be a member of the Committee.</FONT></P>
<P align=left><FONT face=sans-serif size=2>B. </FONT><U><FONT face=sans-serif size=2>Overview</FONT></U><FONT face=sans-serif size=2>. The overall charter of the Committee is to make determinations and recommendations to the Board on issues related to the composition and operation of the Board and corporate governance matters applicable to the Independent Trustees, as well as issues related to complex-wide matters and practices designed to facilitate uniformity and administration of the Board's oversight of the funds, and to discharge such additional duties, responsibilities and functions as are delegated to it from time to time.</FONT></P>
<P align=left><FONT face=sans-serif size=2>C. </FONT><U><FONT face=sans-serif size=2>Specific Responsibilities</FONT></U><FONT face=sans-serif size=2>. The Committee shall have the following duties and powers, to be exercised at such times and in such manner as the Committee shall deem necessary or appropriate:</FONT></P>
<P align=left><FONT face=sans-serif size=2>1. To consider and determine nominations of individuals to serve as Trustees.</FONT></P>
<P align=left><FONT face=sans-serif size=2>2. To consider, as it deems necessary or appropriate, the criteria for persons to fill existing or newly created Trustee vacancies. The Committee shall use the criteria and principles set forth in Annex A to guide its Trustee selection process.</FONT></P>
<P align=left><FONT face=sans-serif size=2>3. To consider and determine the amount of compensation to be paid by the funds to the Independent Trustees, including incremental amounts, if any, payable to Committee Chairmen, and to address compensation-related matters. The Chairman of the Board has been granted the authority to approve special compensation to Independent Trustees in recognition of any significant amount of additional time and service to the funds required of them, subject to ratification of any such special compensation by the Committee at the next regular meeting of the Committee.</FONT></P>
<P align=left><FONT face=sans-serif size=2>4. To consider and determine the duties and compensation of the Chairman of the Board.</FONT></P>
<P align=left><FONT face=sans-serif size=2>5. To consider and recommend changes to the Board regarding the size, structure, and composition of the Board.</FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="80%" border=0>
<TR>
     <TD width="100%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><FONT face=sans-serif>1</FONT>&nbsp; </TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_2"></A>
<P align=left><FONT face=sans-serif size=2>6. To evaluate, from time to time, and determine changes to the retirement policies for the Independent Trustees, as appropriate.</FONT></P>
<P align=left><FONT face=sans-serif size=2>7. To develop and recommend to the Board, if deemed desirable, guidelines for corporate governance (&#147;Corporate Governance Guidelines&#148;) for the funds that take into account the rules of the NYSE and any applicable law or regulation, and to periodically review and assess the Corporate Governance Guidelines and recommend any proposed changes to the Board for approval.</FONT></P>
<P align=left><FONT face=sans-serif size=2>8. To monitor all expenditures and practices of the Board or the Committees or the Independent Trustees not otherwise incurred and/or monitored by a particular Committee, including, but not limited to: D&amp;O insurance and fidelity bond coverage and costs; association dues, including Investment Company Institute membership dues; meeting expenditures and policies relating to reimbursement of travel expenses and expenses associated with offsite meetings; expenses and policies associated with Trustee attendance at educational or informational conferences; and publication expenses.</FONT></P>
<P align=left><FONT face=sans-serif size=2>9. To consider, evaluate and make recommendations and necessary findings regarding independent legal counsel and any other advisers, experts or consultants, that may be engaged by the Board of Trustees, by the Trustees who are not &#147;interested persons&#148; as defined in the Investment Company Act of 1940 of any of the funds or any fund&#146;s investment adviser or principal underwriter, or by the Committee, from time to time, other than as may be engaged directly by another Committee.</FONT></P>
<P align=left><FONT face=sans-serif size=2>10. To periodically review the Board&#146;s committee structure and the charters of the Board&#146;s committees, and recommend to the Board of Trustees changes to the committee structure and charters as it deems appropriate.</FONT></P>
<P align=left><FONT face=sans-serif size=2>11. To coordinate and administer an annual self-evaluation of the Board, which will include, at a minimum, a review of its effectiveness in overseeing the number of funds in the fund complex and the effectiveness of its committee structure.</FONT></P>
<P align=left><FONT face=sans-serif size=2>12. To report its activities to Board of Trustees and to make such recommendations with respect to the matters described above and other matters as the Committee may deem necessary or appropriate.</FONT></P>
<P align=left><FONT face=sans-serif size=2>D. </FONT><U><FONT face=sans-serif size=2>Additional Responsibilities</FONT></U><FONT face=sans-serif size=2>. The Committee will also perform other tasks assigned to it from time to time by the Chairman of the Board or by the Board of Trustees, and will report findings and recommendations to the Board of Trustees, as appropriate.</FONT></P>
<P align=left><FONT face=sans-serif size=2>E. </FONT><U><FONT face=sans-serif size=2>Governance</FONT></U><FONT face=sans-serif size=2>. One member of the Committee shall be appointed as chair. The chair shall be responsible for leadership of the Committee, including scheduling meetings or</FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="80%" border=0>
<TR>
     <TD width="100%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><FONT face=sans-serif>2</FONT>&nbsp; </TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_3"></A>
<P align=left><FONT face=sans-serif size=2>reviewing and approving the schedule for them, preparing agendas or reviewing and approving them before meetings, and making reports to the Board of Trustees, as appropriate.</FONT></P>
<P align=left><FONT face=sans-serif size=2>F. </FONT><U><FONT face=sans-serif size=2>Miscellaneous</FONT></U><FONT face=sans-serif size=2>. The Committee shall meet as often as it deems appropriate, with or without management, as circumstances require. The Committee shall have the resources and authority appropriate to discharge its responsibilities, including the authority to retain special counsel and other advisers, experts or consultants, at the funds&#146; expense, as it determines necessary to carry out its duties. The Committee shall have direct access to such officers of and service providers to the funds as it deems desirable.</FONT></P>
<P align=left><FONT face=sans-serif size=2>G. </FONT><U><FONT face=sans-serif size=2>Evaluation</FONT></U><FONT face=sans-serif size=2>. At least annually, the Committee shall evaluate its own performance, including whether the Committee is meeting frequently enough to discharge its responsibilities appropriately.</FONT></P>
<P align=left><FONT face=sans-serif size=2>H. </FONT><U><FONT face=sans-serif size=2>Review</FONT></U><FONT face=sans-serif size=2>. The Committee shall review this Charter periodically and recommend such changes to the Board of Trustees as it deems desirable.</FONT></P>
<P align=left><FONT face=sans-serif size=2>Last revised: December 9, 2008</FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="80%" border=0>
<TR>
     <TD width="100%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><FONT face=sans-serif>3</FONT>&nbsp; </TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_4"></A>
<P align=left><FONT face=sans-serif size=2>ANNEX A</FONT></P>
<P align=left><B><FONT face=sans-serif size=2>General Criteria</FONT></B></P>
<P align=left><FONT face=sans-serif size=2>1. Nominees should have a reputation for integrity, honesty and adherence to high ethical standards.</FONT></P>
<P align=left><FONT face=sans-serif size=2>2. Nominees should have demonstrated business acumen, experience and ability to exercise sound judgments in matters that relate to the current and long-term objectives of the funds and should be willing and able to contribute positively to the decision-making process of the funds.</FONT></P>
<P align=left><FONT face=sans-serif size=2>3. Nominees should have a commitment to understand the funds, and the responsibilities of a trustee/director of an investment company and to regularly attend and participate in meetings of the Board and its committees.</FONT></P>
<P align=left><FONT face=sans-serif size=2>4. Nominees should have the ability to understand the sometimes conflicting interests of the various constituencies of the funds, including shareholders and the management company, and to act in the interests of all shareholders.</FONT></P>
<P align=left><FONT face=sans-serif size=2>5. Nominees should not have, nor appear to have, a conflict of interest that would impair their ability to represent the interests of all the shareholders and to fulfill the responsibilities of a director/trustee.</FONT></P>
<P align=left><B><FONT face=sans-serif size=2>Application of Criteria to Existing Trustees</FONT></B></P>
<P align=left><FONT face=sans-serif size=2>The renomination of existing Trustees should not be viewed as automatic, but should be based on continuing qualification under the criteria set forth above. In addition, the Nominating, Governance and Administration Committee (the &#147;Committee&#148;) shall consider the existing Trustee&#146;s performance on the Board and any committee.</FONT></P>
<P align=left><B><FONT face=sans-serif size=2>Review of Shareholder Nominations</FONT></B></P>
<P align=left><FONT face=sans-serif size=2>Any shareholder nomination must be submitted in compliance with all of the pertinent provisions of Rule 14a-8 under the Securities Exchange Act of 1934 in order to be considered by the Committee. In evaluating a nominee recommended by a shareholder, the Committee, in addition to the criteria discussed above, may consider the objectives of the shareholder in submitting that nomination and whether such objectives are consistent with the interests of all shareholders. If the Board determines to include a shareholder&#146;s candidate among the slate of its designated nominees, the candidate&#146;s name will be placed on the funds&#146; proxy card. If the Board determines not to include such candidate among its designated nominees, and the shareholder has satisfied the requirements of Rule 14a-8, the shareholder&#146;s candidate will be</FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="80%" border=0>
<TR>
     <TD width="100%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><FONT face=sans-serif>4</FONT>&nbsp; </TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_5"></A>
<P align=left><FONT face=sans-serif size=2>treated as a nominee of the shareholder who originally nominated the candidate. In that case, the candidate will not be named on the proxy card distributed with the funds&#146; proxy statement.</FONT></P>
<P align=left><FONT face=sans-serif size=2>As long as an existing Independent Trustee continues, in the opinion of the Committee, to satisfy the criteria listed above, the Committee generally would favor the re-nomination of an existing Trustee rather than a new candidate. Consequently, while the Committee will consider nominees recommended by shareholders to serve as trustees, the Committee may only act upon such recommendations if there is a vacancy on the Board, or the Committee determines that the selection of a new or additional Trustee is in the best interests of the fund. In the event that a vacancy arises or a change in Board membership is determined to be advisable, the Committee will, in addition to any shareholder recommendations, consider candidates identified by other means, including candidates proposed by members of the Committee. The Committee may retain a consultant to assist the Committee in a search for a qualified candidate.</FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="80%" border=0>
<TR>
     <TD width="100%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><FONT face=sans-serif>5</FONT>&nbsp; </TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>bnkthriftoppx2x1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 bnkthriftoppx2x1.jpg
M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP.
M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=?
M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C
M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@`
MEP$6`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D*
M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A
M""-"L<$54M'P)#-B<H()"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U15
M5E=865IC9&5F9VAI:G-T=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H
MJ:JRL[2UMK>XN;K"P\3%QL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V
M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!
M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P
M%6)RT0H6)#3A)?$7&!D:)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E
M9F=H:6IS='5V=WAY>H*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V
MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#
M`0`"$0,1`#\`[2BBN=C\0RJTKR^1*B&7='$"'B"9P6))'.!Z=:HDZ*BLP7EY
M;S1)>"`B<-L\H$;6"[L')YX!YXZ=*JZ;JM[J%I(\;VI=8TD\Q48HI.<H1N^\
M,>O>@#=HKGFU>]C@L'GN;"#[7$9=[QL%480A?O=?F/Y5>EO+R26Y^R+!Y=J=
MK"0',C;0Q`(/R]1ZT`:=%4+&_P#MMS(%4"+R(I4..?GW=?R%5K74KR^BMDMQ
M`DSVZSR,ZDJ,G```/L>_:@#8HK/34P-*FO)H\-!O$B*<_,A(./Q%,DNKZUMC
M+<K;L\C(D<<8(VLQ``+$\CGK@4`:=%8]UJ5Y8Q7*7`@>9+=IXV12%.#@@@GW
M'?O3)=9G6/3PD<?G32JEP"#A!N"-CGKN/%`&W17.Q^(95:5Y?(E1#+NCB!#Q
M!,X+$DCG`].M76O+^V=%N(H96F5_*2+((<*6"G)YS@\\?2@#5HK&@U2XD6WS
M);N\L_E,HC9#'\C-@@G.<@4PZAJ,5KJ4\K6K"SW*`L;#<P56S]X\<T`;E%9D
MMY>22W1M%@\NU.UA(#F1MH8@$'CJ.QJF?$$A^V.(T$2P>9;,0>6\H2;6Y]#V
M]#0!OT51MKTS:A+!YL+!(U<HHPR$]CSSZ]!CCK5Z@`HHHH`****`"BBB@`HH
MHH`****`"BBB@`HHHH`D@^^?I11!]\_2BDQHCJM%90QV;VI!>)RY8/SG<22/
MU-6:*8BC#ID<<@=YYYRJE4\U@=@/7&`/S.33K;3H;4`1M)@0+"02/F"C`)XZ
MXJY10!4AT^*$VA5G/V6(PIDCD';U]_E%,N-,CGED<33Q"48E2-@!)QCGC/3C
MC%7J*`*)TU!>"XAN)H?E1#'&5VL%S@'()[GH::-(B2&!(9YX6@C\I9$8;BOH
M<C!_*M`*3T!I=I]*`*T=G!'9FU";HB"&#<[L]<^N<FH%TM/)>&2XN)HF`"K(
MP.S'(((&<C`Y)/2K^T^AHH`SSI$3PSI-//,T\?E-([#<%]!@8'Y4K:1;-<2S
M9D#RR1R'YN`4.1CT!/6K]%`%:*RACLWM2"\3ERP?G.XDD?J:BATQ(WWM<7$K
M*I6,R.#Y8/IQU]SDU>HH`SX])B69)GFFEF602;W(R<*R@'``P-QZ5))IT,EO
M>0LS[;MBSX(R"5"\<>PJY10!1N-,CGED<33Q"48E2-@!)QCGC/3CC%,N-&M+
MBWN8'WA+@J3M.-F%"C;Z<#^=:-%`#54*H4=`,"G444`%%%%`!1110`4444`%
M%%%`!1110`4444`%%%%`$D'WS]**(/OGZ44F-$=%%%,044`9.!6;?:CM)BMV
MYZ-(/Z?XTTKB;L6[B[AMN';+_P!Q>OX^E0F]>2W26(!!DJPZD'Z_2L8G)R:M
MZ>VYG@/_`"T&5_WAT_K5<MB.9MFG,Q9\Y)#`,,^]5[S_`(\)?]Y?ZU(AWV\9
M[KE3_/\`K4=Y_P`>$O\`O+_6DBF92.\9RCLI]0<5:BU.XC/S,)!Z./Z]:J45
M=C)-HW+>_AN"%SY;_P!UCP?H:M$8/-<S6A8ZB8\1SDM'V;NO_P!:H<>QHI]S
M6HH]QR#R#ZT5)84444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111
M0`4444`20??/THH@^^?I128T1T44V1UBC:1ONH,GWIB*6IW9B7R(SAV'S'T'
MI613I':61G<Y9CDTVM4K&+=V%*CF-U=>&4Y%)10(VXRK"39]UP)5'IZC]?TJ
M*\_X\)?]Y?ZTS2Y`Z!">8VQ_P%N/T/\`.GWHQ8R@]F7^M1U-.ADT445H9A11
M10!I:7=X(MY#P?N'T/I6I7,@D'(X-=!:S?:+9)/XCPWU%9R74T@^A-1114EA
M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`$D'WS]**(/OGZ
M44F-$=4=7DV6JH/XV_0?_K%7JRM9;][$OHF?S/\`]:JCN1+8SJ***U,@HHHH
M`GLI1#<J6.$;Y6^A_P`YK3U-2MM-GNRFL6M6>;S]%#DY92$;\*E[E1>C1E44
M451(4444`%:6C2<RQ>HW#^7]:S:MZ6<7R#U!'Z&I>PX[FW11169L%%%%`!11
M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`20??/THH@^^?I128T1UD
MZR/W\1[>7C]36M6=K*9BBD_NDJ?Q_P#U&JCN1+8RJ***U,@HHHH`*<)'$31A
MCL8@D>]-HI`%%%%,`HHHH`*M:9_Q_P`?X_R-5:OZ.F;AW[*OZG_)I/8<=S7H
MJ*:>&W4-/+'$I.`78*"?3FG-+&C;7D56VEL$X.!U/TY%9&P^BHXYXI@IBD1P
MPW`JP((]:)IXK>,R3RI$@ZL[!0/Q-`$E%-1E=%=&#*PR"#D$4Z@`HHHH`**B
M-S`)_(,T?G8W>7N&['KCTJ6@`HIH=2Y0,"P`)7/(!Z?R/Y4Z@`HHHH`****`
M"BBB@`HHHH`D@^^?I11!]\_2BDQHCJ*YA\^W>+N1\OU'2I:*8CF>G6BK^JVN
MR3ST'R.?F]C_`/7JA6J=S!JP4444P"BBB@`HHHH`****`"MO38?)M`2/FD.X
M_3M_GWK-L+7[3/\`,/W:\N?Z5NU$GT+@NIFZPC;4DB+^:%>-0(6E#!@,@@8P
M>!R3@5GKIEX]XD5TJM'):26[3+(20N$`XVXSG)Z]SZ8KHJ@^UVV91]HBS#S(
M-X^3Z^GXU!H9.FK=VU_M,9>.XD<O(8V&!ECQR0!N)(!ZAQZ'-^^S'=6UPR/)
M%'N#!$+E2<8;`Y]1Q_>JVDL<A(1U8@`\'/!Z4VXN8+5`]Q-'"I.`TCA03Z<T
M`8^I-=L\S6HN@YC8Q[`P79Y38XZ!M^/]KIVS44L-_"]\L+7;+Y,PC)=FYV1E
M<9[[B^/R[5T/6FI+'(7".K%#M8`YVGT/I0,PO+O(L@?:S&S2!_G=B$690,<Y
MR8RW3D_6G1I>^>LO^DD)Y(C!9L%3(P;<.YV;<YY%;U-9U4J&8`L<*">IZX'Y
M&@1AZO$[_;H+9)W\^)FE7RV"A@@VE6`YSA05&<^G7*-]JY^S_;-V3OW>9CR>
MV-W\>,?[6<YK:^T0_:/L_G1^=C=Y>X;L>N.M2T`8L".-966-+K[(T,:AFWYW
M`R8W;OF(Y/7U%;5-=UC1G=@J*,LS'``]32>8F]4WKN8$A<\D#J?U'YT`/HHH
MH`****`"BBB@`HHHH`D@^^?I11!]\_2BDQHCHHHIB$95=2CC<K#!'K6'>V3V
MK9'S1GHW]#6[2$!E*L`5/!!Z&FG835SFJ*T[G2LY:V/_``!C_(UG21O$VV1"
MI]",5HG<R::&T444Q!112JK.P506)Z`"D`E2VUM)<R;4'`ZL>@%6[;2W?#7!
M\M?[H^\?\*U(XTB0)&H51V%2Y=BE'N-AA2"(1QC@=3W)]:DHHJ#4*R'3[?>W
M"XEA,2[8BT+A20P8MG@$$@<`\@'UK7JM-?VT$S0R2XE6/S"@!)VYQG`]SC%`
M&7HBW-H\=L8F\ID#%FC8'`4!26Z9``7;U[U=U2&::6R$!"D3$LQ3<%'EN.1D
M>N/J:M6]U#<Y,+[P`K9'3D9'Z8/XBDN+J*V*+(6W/]U41G)QU.`#Q[T`8+P7
MUIIZ10&X.))5#M)(2F&(C.%#$KCG&,'C-+##>V]S''&LR1M<NVXO(1_KCG(`
M(P4QC)`Y)Z\UT$4J3*6C;<`S(3[@D$?F#3G=(UW.P49`R3CDG`'YF@9SB0Z@
MEF'S=M(+6`LK2ORQ<^9ZG.WT&1VYQ4ENEPU[8F=;AG23*G$A18_+<<D@#=DX
MR0&K8NKZ"T>-9O-W2'"[(7?)ZX^4'G`/Y59H`Q-0:XAN;@6$<SM+AIE*,JC`
M`W*^.N`!@9_0U"JWCV[J[77FM;N+8H9<*^7X8X!R!LY<=LCO70U'%*DREHVW
M`,R$^X)!'Y@T","<WMTUW)&+Q4\J<Q*0Z9;RX@O'UWX'UIJQ7ENDBV\=QN!N
M"X9GP<R(00>>=F2,=\]\UTM-9T0J&8`N=J@GJ<$X'X`_E0,Q]--R+F#SC.X:
M-AM(D"QC<Q&2P&XXVCD9XSW-;5%%`@HIJ2)(NY&##)&0<\@X(_,5%]K@^U_9
MMY\W'3:<=,XSTSCG'7%`$]%5Y;V"&812.0QQG"$A<],D#`S[TY;F%Y1$LBLY
M#$`<_=(#?D2!0!-1110!)!]\_2BB#[Y^E%)C1'1113$%%%%`!2,`R[7`9?1A
MD4M%`%9["U?_`)9;3ZJ2*C_LNV]9?^^A_A5VBG=BLBJNG6J_\LRW^\QJPB)&
M,1HJ#_9&*=12N.P4444`%%%%`!6,^E3R:FTLLJ-"ZR'>L>'4[D*]202-HP<8
M^7IS6S10!BZ3:7EE+'%M9;<KN8$H0..!G[Q8<#TP/6K>J1RO&C6T,C7"Y\J1
M&`$9_P!K)Y7U'/3ITJ_10!S[:5.C2,ENI$KRO,H(!E'G*R@^N4W#GCG!IAT>
M5XYF>S1N(O+C;:2%$S.4'8?*5&.G;H*Z.B@90FM[F26T9BC".X+_`"KMVIY;
M``\G)R1T_*L2+1;PQ2"6!3(+66,<*`TI"@/G<<DX/S''3H*ZJB@1C6VF-;7X
MEA@2-?M!^9<9\HQ=/IOYQZ\U#+I=RTT#^4I,<TC@Y&5W7"-D?\`#?R[UOT4`
M<S<:5?,C!8UVJ3"@4!B(Q_JW&64`C<W?BIWTZ1KWS?L*M&MR),N$\Q\AP3G/
M*@LI&>1@^@K?HH&<Q#HEU%9*L4*0W&-H=6`(!M]IY'_33GZ\U(NE7)-JXMU3
MRF+!0JH(\R1$[0&;'RJ_?N?6NCHH`P+/36MKJ(QZ>%V32$N5CV;2Q(88.X'&
M!T[`'H,27-K>C6#<0QN5+H-P9=HC^7/!/W^&&<?=/7/%;=%`C*N[:=C>P1Q,
MZWF,2A@!%\H4YR<]LC`/)JC)H\I,VRSC#J+EHG^7EV=6C8>A`&,GIBNCHH`Y
MVTTJZ-S&UU$K!9U:3Y5"OA9!O^\222R]0.@XXKHJ**`)(/OGZ440??/THI,:
M(Z***8@HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`
D****`"BBB@`HHHH`****`"BBB@`HHHH`D@^^?I11128T?__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>bnkthriftoppx23x1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 bnkthriftoppx23x1.jpg
M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP.
M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=?
M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C
M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@`
M,`"7`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D*
M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A
M""-"L<$54M'P)#-B<H()"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U15
M5E=865IC9&5F9VAI:G-T=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H
MJ:JRL[2UMK>XN;K"P\3%QL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V
M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!
M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P
M%6)RT0H6)#3A)?$7&!D:)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E
M9F=H:6IS='5V=WAY>H*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V
MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#
M`0`"$0,1`#\`]`HHHH`****`*=Y<S6]Q;B.(S)(65E7&X<9SR0,<'\Q39=1Q
M-'!%;RM-+T##:`.Y.>P]JBOKB/38IM3OF!\M=D<:]L]AZDD#\O8DNTBVF6)K
MN]_X_+C#./\`GF.R#V&?S)H`T.@YJO;7]O=RND#E]@SN`^4C)'![\@_E65K4
MLVI78T6RD"97?=R?W$[+QW/\JUK.TBLX1'$/3)/4]O\`([4`6*IZC<2VZ0_9
MU#RO*%$9(&\8)(&>^`3^%6)Y/)MY)<;MBEL#O@5R^I7$-M92ZE/-)(\2[(G6
M5E\R8]=N#PHQC'^]F@#2DU:XN=2_LVSMWBE"AYI9-I$2_0$_-Z`_7I5E[]4N
METZUS/<JH,C,<B,>K'U/8=_8<US=M?R:%HTJ.F_6KN;!4G)9F`(/T`8#'KFN
MCT+3!IECLD;S+F4^9/(>2SGK^%`&B,XYZTM%%`!1110`54.H6WVT6BN6E)VG
M:I(4X)P3T!P/Y>M4]=U":#R;&Q(-]=G;&?\`GFO=S]*ETC2(M,A`\QIYL$-*
M_4Y.3CZGD]SW[4`:5%%%`!1110`57N+R&W<1L2\K#*Q(-S'\/3W/%5+F]FN+
MMK'3B-Z?Z^<C*PCT'JWMV[U2UZ\A\.Z/(UODW=P=J.QR[MW8GOC_``%`&-JV
MI3:EJ$\Y3R[32!OV\/OE)P`<<=?KC!]:NR:AJ6G69GO-0#R>1OE3REQ&S$;$
M7&/F//7/3./72\/:-'8Z$MM<QJ[SC?.&&<D]C]!Q6@=.LRD:&VB*QOYB#;P&
M]?K0!QVC/?Z9JBP-/YDTBF:\C(!)=A\B%NN>Y[`9-64UK5I;>1H+B-VN+@16
M?[H?/C[Y'^P.>3DUU#:=9O-+,UM$99EV2/MY88Q@FD?3;)T@1K6(K`,1#;]P
M=\4`0278O5:*TF`A7B:Y!X7U`_VOY?6N5M4_M36(TMEDN-'TMLH,@9[@9)`.
M#Z]A[UUEUH>F79_?6<9Z9VY7..F<8S5E+.VCM#:QP(D!!4QJ,`@]:`.#:]EF
MU.X\1);+(IE%O9I(<9?&`<=^,G\>O%;,>IWPU46_VWSA`H:Y"JH5I#G$:\9`
M[D^@-=`=.LS9BT-M$;=>1'M&T=Z8FDZ>GF;+*!/,3RWVH!E>F/I0!RPU?7)[
M*2YANT(N+H0V@$`&[!.3ST7`/7)X[5H_VM-J5Y<1V]X+6UM%"O-&@9I9#T"@
M@\?3D_C6VVFV3PPQ/:Q-'#_JU*@A?I0;*SBN6O!:QFX/614!8]J`,"+5-2OX
MEN[>=(5DF\NVMRH/FA3\S.<$@8!Z=/?NEGK%[/9OJ]Q<K#;;F\FUC0'S57.<
MD\CZ\8QDUKPHEM,[6NCNC-DEQY:YR<_WL_I4`LT$,D2Z"@CD^^H=`#SG'7IF
M@#FM.EU/5)KO4;9G&H3;4C4*`(8\]26_A^@R<5VUC*)+=4-Q'/-$`DS)TW@<
M\=N:Y[5#?QM;7EEHT\$UH-O#QE7B[H0&SV&.*T].UW3+I`\+&#SCG,D90,W3
M[V,$_C0!KT4E%`"U2U.XEA@6.VQ]IG;RXLC(!/5C[``G\*NU4NX9C/!/`L;M
M%N!1V*Y!QR#@\\4`%K;V^EV.P-MCC!9Y'/)/4L3ZUS&GQR>*/$/]IS*1IUH=
MMNK#[Y'?\^3^`K8O-+N]894U&5(;,')MX&),G^\Y`X]@/QK6AACMX4AA14C0
M855&`!0!#J4LT&GSRV^WS$4D;NE5$OKB*_E2:(-$9%0LKYV$H#@#'3(_6M*:
M*.>%XI5#QNI5E/0@TQ+6%``L8X(/)R<@8!_*@"KI%]<7\)EGL_L\;*KQ,)`V
M]2,_@1_6J5E?7$$5Q-=$.S/<,/WG"B-B-H&.!_AFM>WM8;8$0)L4_P`()P/H
M.WX4R;3[2>(12VZ/&&9]I'&3G)_')_.@"E_:-Q'))))'&8=T"J`W(WLH]/\`
M:S^%(^L2!2Z6RM&@G>1M_18G*\<<DXZ5>>PM79RT*DN@C;KRHZ?EZTZ&SMH$
M"10HJJ"H`'&"<G\S0!%IUQ<W4#-=VOV9L\`/N#`@'(/Z?A572]0EF%I&\>Q)
M;9)5>20LSDKDCI@D?7/?%:%O;16L?EPJ53LN20/IGH/:F)86L<D4B0@-$NV/
MDX08QP.@XXH`J7FL?8VG5H"S0[G(#=8PA;=^8V_6GQ:DXN5M[F*..0OM.V3(
MP4+<'`]"/UJPUE%)>/<R*K%H?)P5_AR2>??C\J;_`&;9^28C`I0L&(;)R1P.
M3STX^E`%%-7NY;83P6*NOV6.<CS#G+]@`#G`!/KZ"K]O+-.T4JM"UL\6XE22
M=WM[8IWV*W$7E+$%3:J84E<!>@X]*DAACMX5BA0)&@PJCH!0!)6&VD7%C>2S
M:9Y3VTYS-9S'"D^JG!P?;&*W**`*MA#)!`4=0B[B40-NV+Z9_/Z=**M44`?_
!V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>bnkthriftoppx1x1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 bnkthriftoppx1x1.jpg
M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP.
M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=?
M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C
M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@#
M8@)+`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D*
M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180<B<10R@9&A
M""-"L<$54M'P)#-B<H()"A87&!D:)28G*"DJ-#4V-S@Y.D-$149'2$E*4U15
M5E=865IC9&5F9VAI:G-T=79W>'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H
MJ:JRL[2UMK>XN;K"P\3%QL?(R<K2T]35UM?8V=KAXN/DY>;GZ.GJ\?+S]/7V
M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(!
M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P
M%6)RT0H6)#3A)?$7&!D:)B<H*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E
M9F=H:6IS='5V=WAY>H*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V
MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P#
M`0`"$0,1`#\`W_M,_P#SVD_[Z-'VF?\`Y[2?]]&HZ*VL8W)/M,__`#VD_P"^
MC1]IG_Y[2?\`?1J.BBP7)/M,_P#SVD_[Z-'VF?\`Y[2?]]&HZ*+!<D^TS_\`
M/:3_`+Z-'VF?_GM)_P!]&HZ*+!<D^TS_`//:3_OHT?:9_P#GM)_WT:CHHL%R
M3[3/_P`]I/\`OHT?:9_^>TG_`'T:CHHL%R3[3/\`\]I/^^C1]IG_`.>TG_?1
MJ.BBP7)/M,__`#VD_P"^C1]IG_Y[2?\`?1J.BBP7)/M,_P#SVD_[Z-'VF?\`
MY[2?]]&HZ*+!<D^TS_\`/:3_`+Z-'VF?_GM)_P!]&HZ*+!<D^TS_`//:3_OH
MT?:9_P#GM)_WT:CHHL%R3[3/_P`]I/\`OHT?:9_^>TG_`'T:CHHL%R3[3/\`
M\]I/^^C1]IG_`.>TG_?1J.BBP7)/M,__`#VD_P"^C1]IG_Y[2?\`?1J.BBP7
M)/M,_P#SVD_[Z-'VF?\`Y[2?]]&HZ*+!<D^TS_\`/:3_`+Z-'VF?_GM)_P!]
M&HZ*+!<D^TS_`//:3_OHT?:9_P#GM)_WT:CHHL%R3[3/_P`]I/\`OHT?:9_^
M>TG_`'T:CHHL%R3[3/\`\]I/^^C1]IG_`.>TG_?1J.BBP7)/M,__`#VD_P"^
MC1]IG_Y[2?\`?1J.BBP7)/M,_P#SVD_[Z-'VF?\`Y[2?]]&HZ*+!<D^TS_\`
M/:3_`+Z-'VF?_GM)_P!]&HZ*+!<D^TS_`//:3_OHT?:9_P#GM)_WT:CHHL%R
M3[3/_P`]I/\`OHT?:9_^>TG_`'T:CHHL%R3[3/\`\]I/^^C1]IG_`.>TG_?1
MJ.BBP7)/M,__`#VD_P"^C1]IG_Y[2?\`?1J.BBP7)/M,_P#SVD_[Z-'VF?\`
MY[2?]]&HZ*+!<D^TS_\`/:3_`+Z-'VF?_GM)_P!]&HZ*+!<D^TS_`//:3_OH
MT?:9_P#GM)_WT:CHHL%R3[3/_P`]I/\`OHT?:9_^>TG_`'T:CHHL%R3[3/\`
M\]I/^^C1]IG_`.>TG_?1J.BBP7)/M,__`#VD_P"^C1]IG_Y[2?\`?1J.BBP7
M)/M,_P#SVD_[Z-'VF?\`Y[2?]]&HZ*+!<D^TS_\`/:3_`+Z-'VF?_GM)_P!]
M&HZ*+!<D^TS_`//:3_OHT?:9_P#GM)_WT:CHHL%R3[3/_P`]I/\`OHT?:9_^
M>TG_`'T:CHHL%R3[3/\`\]I/^^C1]IG_`.>TG_?1J.BBP7"BBB@04444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`5,\*_*4D494'
M:QP142;=V7R0.P[U:C&U&NY0.N(U[$_X"DQH@FB$6`6!<\D#M38XGE.$'3J>
MPH`>63`RSL?S-6IY5MT^SP_>'WW]Z`*CJ4<J>H.#245/;)E6<8R"!DC(4<Y/
MZ4P%%NLBQ*KA9&'*G//)Q1+$J/Y$0\R3.&;W]!5V)CY1F.`\F5B^49`[5!C[
M%:[S_KY>G^R*FY5BK-&L1V;MSC[V.@]JCHHJB0HHHH$%+&C2,%09)I`"2`!D
MFKKLMC%Y2J&F89<GM[4F-(J21F)]K8S[&FT,2Q)8Y)ZDT4P"BBB@04444`%%
M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444
M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110
M`4444`%%%%`!1110`4=:5$:1PB#+'H*G9UM_DB(:3^*3T]A_C0,6"S,DH1VV
M$_P]3C^E7)S$T9/E[Q&WEQKD\G_/\JCA'V2R:9O];)PO^?UJ@LLBJ55V`/4`
MU.Y6QIPI'"6D2/YF.Q!G.3WQ[4C6T'VAF*_(HRP)/Y_Y]*S?-D^7YV^3[O/2
ME,TC!@78AN3D]:+!=%J6V0Q1K%&1(WS')Z+[TMI&'8Q(NZ(C]XYXS]*JFXF(
M`,K<=.:5[J>1-K2L1Z4[,5T:(*3W2R+(/*@'3!ILL:3LD@!D>7A0W`51WK-$
MCJA0,0IZ@'K2K/*@`61@`<@`TK#YC0%M;>:[E,1(,XR?SIOV2.585C0H6^9C
MG.%[?C5$S2%64NQ#')&>M'GRY4^8V5Z<]*+,5T7!#"^]C%LBCY!R=SBE6"W9
M3))&4*+N9%/KT_&JJ22;BYN-K'J23FG(51B1=,">I"GFBP7+EI`F[[0T00@8
M5,]_QJ.6-+D%8PGG`Y=LG`]N:@RA4*;QL`Y`*'KZU9D3SAY]M,H<#$ASMS[T
MAF:P*L5/4'!HI\D4D9^=2,]^H/XTRK)"BBB@04444`%%%%`!1110`4444`%%
M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444
M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!14GG
MOZ1_]^U_PH\]_2/_`+]K_A0,D!^SVXQ_K)1U]%_^O2V5MY\FY^(DY8G^5-:2
M&5E:3>"``0H&./Y4Y[QMGEQ*J1_W<`Y^N:6H]`OKG[1-\OW%X7_&JU2>>_I'
M_P!^U_PH\]_2/_OVO^%"T$]2.BI//?TC_P"_:_X4>>_I'_W[7_"F!'14GGOZ
M1_\`?M?\*//?TC_[]K_A0!'14GGOZ1_]^U_PH\]_2/\`[]K_`(4`1T5)Y[^D
M?_?M?\*//?TC_P"_:_X4`1T5)Y[^D?\`W[7_``H\]_2/_OVO^%`$=203M!)N
M7D'@@]"*//?TC_[]K_A1Y[^D?_?M?\*`)7E@VMY>]0P_U9&1GUS5:I//?TC_
M`._:_P"%'GOZ1_\`?M?\*0$=%2>>_I'_`-^U_P`*1I692"$P?1`/Z4P&4444
M""BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`
M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H
MHHH`****`"BBB@`HHHH`****`)HHA)`^!^\!X]_44\Q1BX@CQD-@-SU.<&H$
MD=!\IQSF@R,2ISRGW2.U(8<&)CM&=PY].M22>7Y*E8@"V><GBHWD9^#CUX`'
M\J0NS(%)X7IQ3`F*H)(_D&"F2,GK26\0D#;NXPO..?\`/\Z9YS[=N1@#'09Q
M]:02,`H!^Z<CCO2`<BJ89"1R,8-1T\2N-V,?-R<J.:8S%F)/4TP)Y5C$8PJ@
ME`>IS_A043SD&P8*`XR>N,U"SL^-QZ#`XIWFOMVY&`,=!G'UI`/C19(@,8D)
M.WGKTXI55?.<%!@*3C)["H=QVA>P.>E*)7#E\Y9NI(SF@!Y6,B)\%59L,!VQ
MCI^=).FTJ0%"D<%22#^=-\QMP;/*]..!^%#R-)C<>G``&`*`&T444Q!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%
M%`!1110`4444`%%3V6#<!2JL"#D%0>QJ-4+@NQ55SC)Z9_"@8RBK=LCQ72H3
MPZD\'AA@U"8"(RX=&"_>"G.*5PL145/]E;*?O(QO&5))YJ%E*,588(.#3`2B
MK3H\EI"8XMQ);<53GVZ4.C)8G?&%;>`"4`.,4KA8JT5*;=@K99=R#++W`I?L
MQVJQDC"MT))_PIW"Q#14A@=9&1L#;R3G@"@PME=I5@P)!!].M`6(Z*D:$B/S
M%977."5SQ^=+Y##(+*'`R5SS0!%15F96F:W!;DQCEOJ:KL`K$!@V.XZ4`)11
M10(****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB
M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`)['_`(^E^C?R-`Q+:H@90Z,3@G&0
M:8)BJX554D8+`<D5'2&7(G7S84W+B-&!8G`R<_XU'"N()U+("0`,L.>:KT46
M"Y9D`+6V&3A0#\PXY-17/_'S(0006)!!SWJ.BBP7+$HS9PX925+$C<,\X[4`
M9L"-RY\S=C<,XP:KT46"Y=_=H9$62/#IA3G))X/)[5#*,V\`#*2`01N'&34%
M%%@N7I2CO*GF(-ZKM;<,9`Z5#"%B=T=T^="N0<@57HHL%R=&$$3JQ5F8KP"#
MT.:6XC5Y'E25"K'=R>1[8JO118+ETR(J1(Y0HT>UBI!(.:J2)Y;E=RMCNIR#
M3:*+`V%%%%,04444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`$T=N9(O,,B(N[;\Q/6DEMWC0/E70G&Y3D5-'$\NG[4`)$N>2!V
MH>,VUFR2?>E((`Y``]Z5RK%2BI8WA5!NAWMW)8@?I2W,:*L<D8(209P>Q'6F
M*Q#3HD\R5$SC<P&:M7`MK>9D\G?Z_,1CVIOE+%?PA"2C,K+GT)I7'8KR+LD9
M,YVDC--JV\2)++-./E+G:G=N?Y54)R20,>PIH3044^)HU),B%^.!G%2LL4MN
M\D:>6T9&1G((-`6*]%6MD$=K%*Z;V;/RYQGGK3)DC:!)HEV`DJRYS@TKA8@J
M3RO]&\[=_'MQCVS4SK#;A4>/S)"`6RQ`'M3I@@TY3'D*TN<'MQTHN.Q41=[A
M=RKGNW2IQ9DJS">$JO4Y/'Z57JQ!_P`>5S_P#^=#$A$M@\Z1"5#NSRO..*@J
MQI__`!^Q_C_(TZ/[,\HA$9P3M$F[G/KBBX[%6G1())`I94SW8\5/:P(TLR2]
M$0G/H0>M+`()[J-%B*I@YRQ.>*+BL0P1><Y&X*%!9B>PH\H/*$A)DSTXQ5BR
M=`DH,0)$3$G)Y'I2V,D9NP%A"DYP=QXXHN.Q2H`).!R33I&1FRD808Z`DU-8
MX$KR8R8T+#ZTQ"?9&7B22*-O[K-S4<L+PL`XQGD$<@TPDL22<D\DU90^982J
MW/E$%?;/%("M15R5+>!(F,>]G0$KN('UJ*>.,PI-$"JD[64G.#1<+$%%7+I+
M>VFVB+?D`X+$`5%-$A2.6$$*YV[2<X-%PL045:D$%N_E&+S&7[S%B.?:D:!!
M-"5R8I2,`]1SR*+A8K4KHR;=PQN&X?2K,_V>&5XUAWD-U+$?A3KUX]D0\H9,
M0(.X_+[47'8IT5-<QK'Y.T8W1AC]:)8U6U@<#YGW9/K@T[BL0T5;E6"!8R8]
M[.@;&X@#BHKF-%$<D8(209P3G![TKA88\1$WEJP<Y`!4\&F,I5BK#!!P:N[8
MH=2\L1`C>NWD_+TH_<RWS1M$%RS#.X\GL:+CL4J*FMH0]SLD'RKDO]!4+$%B
M0,#/`]*8B:.W,D7F&1$7=M^8GK3)8Q'C$B/G^Z>E6(XGET_:@!(ESR0.U1+;
MLD\2RJ,.P&`P/?VI7'8AHI\RA9I%48`8@?G5G[/'_:?D[?W?ID^E%Q6*=%6D
M^S-,(?+)!.WS-W.?7%-BMU\V7S2=D6=V.]%PL0Q)YDJ)G&Y@,T2+LD9,YVDC
M-6K9H)+F,"(QD,""&)Z=C5>X_P"/F7_?/\Z`MH1T444Q!1110`4444`%%%%`
M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`60I;3L*"3YW8>U*$>
M.PD$H*AF&P'U[U7262,821U'H&(I&=G.68L?4G-*P[EP[H8HO(B#%UR7V[CG
MTI+[?Y%OYF-^&S@8[U5661!A791Z`XI"S$`$D@=!GI18=R?4/^/V3\/Y"I7_
M`./JS_W(_P"=4V9G8LQ+$]R<T;V)4[CE>ASTHL*Y=GQ=R.F<3(2%]&&>GUJB
M002",$=J-QW;LG.<YI69G;<Q+$]R<T(&[EBW4"W>58Q)(&`P1G`]<5*6F:QG
M,P`SMVC:!WJDKLARC%3Z@XI3([9R['=UR>M%AW)I_P#CRM?^!?SH_P"8;_VV
M_I4!9BH4DD#H,]*-S;=N3MSG&>,T6%<LWB-+()HU+*X'(&<'&,4Z6(Q::@;A
MC)DCTXJJDDB?<=ESZ'%(78C!8D9SC/?UHL.XE6(/^/*Y_P"`?SJO2AF"E02`
M>HSUIB)]/_X_8_Q_D:CMO^/J+_?'\Z8K,C;E)4CN#2`D$$$@CH10!<C_`./B
M\_W'_G4>G_\`'['^/\C4`=@6(8Y;J<]:%9D;<I*D=P:5@N3V?_+Q_P!<6_I1
MI_\`Q^1_C_(U`K,N=I(R,'!ZBD!(.0<$46"XK(R'#*5/N*EM'5)B).$=2A/I
MFHG=W.79F/N<TE,"62VEC?:48^A`R#4KK]GM#&_^ME()'H!4"S2H,+(ZCT#$
M4PDDY)R:0%R[A=HX)%!8>4H..U,E4Q6*1OP[/OQW`QBBXE(,)BD((B4$JU5F
M8L<L23ZFA#9=U&!S<%U4L&`S@9P<4TG[-;PHP^?S/,*]P*;=S,+N1HI"`<<J
MW7@56)+'+$DGN:$@;U+-U`YN&=%+I(=RD#.<U(W[M[2$_?1LM[9/2JBRR(,)
M(RCT!Q3<D-NR<YSFBP7)+G_CZE_WS_.IKM69('525\H#(%52222223U)IPD<
M)L#L%],\4"+%RC216[HI8>6%X&<$472&.UMT;[PW9'ITJNDDD8(1V7/H<4A9
MF`!8D#U-%AW)[W_EA_UQ6B?_`(\K7_@7\Z@9F;&XDX&!D]!068J%))`Z#/2B
MPKENX.-6!/3>O]*AN`\=T[;2/G)!(]ZB9F9MS,23W)IX,D[!6EZ=-[<"BP[E
MRXVI#).O_+P`![>M9]3W3KB.%&W+&,9'0GO4%"$RQ_S#?^VW]*B@8+<1L3@!
M@3^=-W-MVY.W.<9XS24P+,UO(UXZ[3@L3NQQCUJQ_P`QK\?_`&6J'FR%-GF-
MM],\4>8^_?O;?_>SS2L.XZW_`./F+_?'\ZLCYY;R$?><DK[D'.*I`D$$'!'0
MB@L2VXDYSG-%A7+-G;R&Z0LK*%8$DC%17'_'S+_OG^=(9I6QF1SCD98\4PDD
MDDY)ZDT`%%%%,04444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111
M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`
M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%
M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`Z,HP&5_6I2L79?U-$5
MN<"I?(Y%*XWN"1PGJGZFIQ;VV/\`5_\`CQIJ0&IQ"<5+8[%9H;<=(_U-20V]
MN3S&#P>Y]*'B.:E@B(/X'^5#8+<06=K_`,\__'C4<]M;1J2(_P#QXU:"&JM\
MC&,XI+5CEHCDM3U*:*YVV[[5],`_SJI_:M[_`,]O_'1_A45^I6[8'K4':K>Y
M*V+8U6]W`>=_XXO^%;VAR/=@^>V_\,?RKE%^^*ZSPV/W>?\`/:JZ,E[HWTL;
M<CF/_P`>-+]@MO\`GG_X\:G3I3JPNS9)%;[!;?\`//\`\>-'V"V_YY_^/&K-
M%%V.R*WV"V_YY_\`CQH^P6W_`#S_`/'C5FBB["R*WV"V_P">?_CQH^P6W_//
M_P`>-6:*+L+(K?8+;_GG_P"/&C[!;?\`//\`\>-6:*+L+(K?8+;_`)Y_^/&C
M[!;?\\__`!XU9HHNPLBM]@MO^>?_`(\:/L%M_P`\_P#QXU9I"P`))P!U/I1=
MA9%*:T@C0G9C'?)KEK_5UAF,,`RYZ'TIWB'7_M#FVM7_`'?=AWKF90S%RS=.
MA'>JYK(%3N[LO'7KE1\TV6ST"C_"I1KL[)]\J?H/\*PC(H(51D],U.RJL?`!
M;N30I-%N*9??6K\,0)^>PV+_`(5(NK7[CBX`.,X*K_A6*TOS86IV(EA6*/=Y
MB9Z]Q4ML$H]BY-K>I18#2%2?5%_PJ!O$&IYR+CC_`*YK_A5"1W8!7_A_2D<J
MC#RVSQ578K(O'Q!JF?\`CY_\AK_A2C7]4.<7/_D-?\*S57<P'3-7HX4AAWDY
MX(^N:3E8%%,D&OZH>?M/'_7-?\*#X@U0?\O7_D-?\*K&16&T(,?2JQY)S3NP
M<4:/_"0:I_S]?^0U_P`*/^$@U3_GY_\`(:_X5F]L]J*+L5D:H\0:ECFY'_?"
M_P"%31:YJ!QFX#Y]$7_"L3'?M2H^Q@11=ARH['2-=C,ICU#Y@>C=,?E6\Y@D
MVM;X93Z$UYTSK(H8`Y[UH:5J<EG,!DLA/(-6I+J9S@[>Z>B0VD#+\T>3]34O
MV"V_YY_^/&H].NHKNV66%PRGT[5+.Y5"0VT"L[NXUL030V4/WEQ^)K&O=3MH
M]RPV^6'<N:74+\Q@@']*Y^XOO.WAW*_114N=MC2-.^K);K4KU.1(J`]``#_.
MJ$FLZBG_`"\_^0U_PJO,_&!+N]C51W(`'/XFA2;+<8KH76U_4,<7)S_US7_"
MA?$&HJ,M<;L]/D7_``JE#"96^3;Z'-(]LP!`.=O7%5<GE78T#KU^8R1=D-V'
MEK_A3#KVI%,B\^;T\M?\*RB".*"3C%.[%9=C3.OZH.MU_P"0U_PIXU_4=N3<
M@GTV+_A62#SS3EQNQ3N*R-3^WM38'%SC_@"_X4S_`(2#5/\`GZ_\AK_A6<WR
MM2?>HN%D::^(-3/'VGG_`*YK_A4R:[J!QFX]S\B_X5C#Y3FGDE1G'WJ+CLCK
M='UQ;@".Z(#Y^]Z_E766]K;R(&V;@>^37D\3[6S6YIGB"ZL#MWEE]#3O?0S<
M+.Z/0_L-K_SS_P#'C1]@MO\`GG_X\:K:5K%OJ40V-B3&2M:-0[H>C*_V"V_Y
MY_\`CQH-A;?\\_\`QXU9S2478616^PVW_//_`,>-'V&V_P">?_CQJS11=A9%
M;[#;?\\__'C1]AMO^>?_`(\:LT478616^PVW_//_`,>-'V&V_P">?_CQJS11
M=A9%;[#;?\\__'C1]AM_^>?_`(\:LT478611C`P*?CYJACE!Q4GF#=5$/<L(
M!4N.*@20&I=XQ4%H8X&:DC%0LXS4R,*!+<=4%T/W9J>JMZX6(Y--;CEL>?ZD
M=U])57M4MVVZZ=O>HNU:=3-;")]^NQ\.+B`&N.BY>NWT!<6RU7V27\2-U>E+
M2+TI:P.@****`"BBB@`HHHH`****`"BBF32+#&9)&VJHR30`XG`))P!7'>*-
M<$W^B6K?)_$P[]*KZQX@EU"=X;=F2W7(X."W6N=F).<G`]:1274$*M*%'0<U
M*8O,C.UL'&?PJFDWE1,$'+8!-36A\N1Y)>0`0,'VI.Y97DQ"RX'*C`]ZC\YM
MI!Y)[U8:-GE'#!2-V1Z4ZWB5E;S$PI^7>1WIW1-F58/]<`3P>M/W>7=KAB"&
MY-1?-$[#'(XI'9B^6R3[U0BQ.ZR,SGAR?P!JKFG&0DGG`/6A(V=@%4FEL&XI
M?&"O&.]2+(2P!.<=_2EN+<1%,G[R@\?2E2#]T6R,L,=.E&X]A01NYY!%2/'"
MTC*3ANQJJ"4;T([^M695\YPR=2!S0!%+!LQ@\=:C9!SCL*MLC[`N057K]:CF
MB.T%!D8R,47!H?%!'Y!SDL<<@TCV.U"['`QD`FHH'VLN3QZ5>:0.F74-QCGT
MH8(S=Q1L=L\5-'.-W(_&EG@P@=>0#CK54''-.XK&W8:I<6#_`+A\*>V.#75V
M6L_VHACD&QDZBO.XW;?W^E;FBW:0L=YP",9J9M\N@XI7-;5_*1CB0$^@K#DN
M-N2H3\:FOI&9V(8XS6;,5!ZX_&LHHUDPGDW/NDS@_P!VJ[%=QQD#MFGM(C$;
MF.*B9@&^6MDC-L!*R`A2`#UH#LO0_E31EC@#GVI3G.,4R1Q`*AA@D=0:CI^[
M_9%&<]L4Q#0/SH!(-2H`#G&?QIZ+%T88/K0!"Q+#F@#@GK5C:!PH!I-G7'3O
M0!%C@9YIK9W<T[(';//-3)'Q]:0R'&,D=J<W`7/4\U=`CAC&]0P7DC'4UG/(
M7<L1U/2A`]"[9WTMK('C8AQ7INA:BNI:>DV?GY##WKR8'C`'XUL^&M4DT^[4
M;CY;'##/7FGN2^YZA14<$HEB5U.0PJ2I$%%&*,4`%%&**`"BBB@`HHHH`Q8E
M8>M28;-6D04H0;JTN96U(8PPJ8[L5,B#TI[*,=*FY7*4N=U6(LY_`T;1NJ9%
M`H;"*&Y-9.MRLD)Q6S@5EZS&#;L2.E$-PFM#@&)+DF@]*#]XTAJA"P<R?C7=
MZ&N+5/I7"V_^L'UKO=&(%JGT%6_@(^T:PZ44`T5@=`4444`%%%%`!1110`44
M44@#I7)>+=39L6D#<9^<@_7BNFO9A!:NY]#_`"KSZX=I;N1F!+.2P^E3)V-(
M1N0+`"A*@X`YJC*`T;C=\W&W'>MF62.&Q<AAN(Z>]8,:NTC?+C(X%3%ER'11
MY<QX&WH2:MRVK"U#`\$<8^N*K1H\:,6?DG)YJ5KR1%C1"2,YP>:IW$K"VTC)
ME)CE"#MS_(52C20N4+D(#D@GBM*=6389&'.#@#\Z9<"))&D0Y1@>#23!HJ/"
M%B+A6<],^E5I-TCEMF,UKI+MA`V??YY[5FO)Y4S#:"P..>E6G<EH8ELY=E"G
M<F,J1S5F%HX%53]]CG=5<7#O+O9CNQC(--D#1NK-SW%.S8DTBS).$RC(.22/
M8&H)`0@*\9ZXI)YO.EW8QFG(_EKG&1FA*P-W(5#/R35FU8I,O.?_`-51':3\
MA(/H:DB'(/3FA@A/-^23OD\"I()6>&1>ZCY:5K9E?(Q@\U""8CD?>QZ4AD:$
M!CD9-2K)O.T?+^-1LI^]W)[5-$(Q'ELCG^E,1.C!HV53GCO4%U!A%*^@)H#X
M?:IR.@]ZTI0IM`6`+'@<?E4MV':YAX9&!P1W%68R%`8?Q=:18V9,'&X=J5UP
MH"CY.QJA%DS;P0QJG)@$FED),8(-5R>M*P7'Y4#OFD8[CD#%1TM,0_<<<$BD
M_&DS1UIB'*0*7>.XIH`/4T[:!V-,!Z.G3.*E(WK\H'X5&C8&,?G3_,4=L&@"
M,AU/&0:D5NN>_6E\P$@\9]:=M)Y`SGTI#(&'..@[U;B`^]V-,DB&PL3@]A21
M2;4\H=1S0,6YRVW'W3UJE5]FWPX'W@#5$@_E0A,7D$9[U-:J?F?.`O-0<GKV
MXJQ#GRMG0%LDTP.[\)ZJ;B)K>5OF7D?I74`UY38W4MA*LT1.>_O7HNC:G'J-
MF)%X=1AE[YI/74AJSL:5%&:,T@"DI:*`$HHHH`****`*B$4Y2,U3B<[:>KFK
ML97U-!2*5CQ5:.4TYY.*FQ?,/'WZE6J:R$M5B-L_E0T$62UE:X^VT?Z5I%^*
MYSQ'=8A9*<5J*;TL<AWI&Z4"AJH!J,5;(KH-+U@0@*QP*P%'-/Q5*5B913.V
M778,#YZ>-<@/\=<-BC%+3L*S[G=C6H/^>@I1K,!_Y:"N$P:.:+1[!:7<[X:O
M`?XQ2_VM"?XZX#)]32Y/J:+1[![W<[\:I#_?IPU.+^^*\^W-_>-+O?\`O&BT
M0][N>@_VE%_?%+_:,7]X5Y[YDG]\U+;M+)*%WD#/)I-1&N9LZC7[MI(E@5]H
M89(`[8-<K#)M=3][)"DGM5^:9GC+#+E?DS6="!)."JG9&_YFN5N[9W17*DBY
M?0B8"/:%)`YSUJC):M%\JE<J,')[5+JES(9HMHVA,"I;I%DW>6X*$@L<?F*2
MT&]3&D;:Q(.<=.*6W=3<1KMSEAFDNXV$\FTG;VJ&`.K[U_@YS6O0SZEZ]N\H
M<D[Q\JX/:JPG+LL9Y7;BHI%8\GEFY^E(L;KAC_$..:$D#;N.#.$/)RAJ.9R[
M9/)JS"I6"4$X+8Q[TQ+?=G<#[4TQ6*E.R1QUJ^+%B`=H'%#6'&>E%PY2BJEC
MQ5WR?]&(QWJQ!9J&P0<D<&M**T0+]W/TJ7(I1,6.U9U`*X'J*LI:N/N+GV-;
M$=HN00,?6K4-J%)SWJ7,M0,6"TDP0>_O4%Q8C!YY^E=28%QP,4UK-&'(I<[#
ME1Q_V"<<JI('I2?9V&,CFNO2Q`;(-/.GQ.?FC&?6E[1CY$<@EMDX"G/>I2QW
MJI+;>F#ZUT\NE((\Q@`UC7EDPY`P1S3YQ<A211NY48[FFR!5<[1@'DBI+=P)
MBLG`(J"YVL^8S@C/.>HJT]2&A+JW\M58=QD@5F-P:T9)/,3;D[L<5G,.:I$,
M2EI*7-,0M&:3-%`"TY7(_B-"1L_(&!4R18'S$52$-$KCH33A,<?,@ISHJ*"6
MSGM3`R8^YS0`AESC`''J*EC8LP'0U$$1CR^WVJ1(R&&"&`[TAHM]4P>U5)$,
M;[^:OK'CD9SBJ]U&>"<FD,2URT63R=U$J1@[0,XZFDMGV%4!&"U.EQYS@9/.
M*:W#H(L"LI)''05-!9-*H4?+UR:2$A6!X.T5=LB%QDX)SR>U1*Y21'%`JOY<
MO`]3SBM+16FL]1$L(*P$X^;O6?<SLTX2/&U>F.]/0^9,A4X*^]"=F$E=6/1X
M7#1@CN,U)D5B6.H(+6/+C@8JU_:,?]ZM.5]#FYTM&:.:3-4/[0C_`+PH^WI_
M>%'*P]I$OYHS5'[<GJ*/MR?WJ.5A[2)>S15+[:G]ZC[8GK1RL/:1&K"`M*L5
M2#I3DHN)"I%BE:,5*M#<4KEV166/YJL(F*8G4U.*3"*1&R<5ROB>'$;-76GI
M7*^+'Q#CU_\`K54"9K8Y,4C4HI&J@%4\T_-,C0N<"KB:;.ZY5&/X4"*V:,U;
M.E7(_P"6;_E3&TZY49,;?D:8$&:,TC(R-M8$&I5M)G&0C8^E`$>:*E-G./X&
M_*FFUF'5#^5`#**0A@<$'-/$$K<A30(;FIK4DRJ@Z$Y-,^SR_P!TU-9V[_:%
M#*<$$?I4RV+A\2+,2[("=W&ZH%01S+'&.<\>U70FV!4.3A=Y^M4+-U_>S%CO
M4D#GC/\`D5R'<-U#*&*,<RA?E_$U30F.*597)<?+@=^M5+ZYEGNF9P0>@%1Q
M.VV1222P')K11T,W+4T(I8IH3O\`]8HV\#KZ5(T1@B*M'C(Y.*N^$='^VSF6
M4?NT_G71ZGI0G8LW"CH!4O0$<(8OFR10(]QSBNEFTV)00`"?>LR2$++M]#0I
M#<2K'`-_3)%78+8?>8?A3D0*<BK42YH;&HD>S:,XIDD(E&!5]4`]Z`@SG%*Y
M5BE%;E<<5=AB"CI4J)4Z+[4@&1H,]*L*@]*5$YZ5,J4TB6R+;3PE3A1FG;:+
M"N5]GI3PO'-2;:,4AW&BHI[5)EQCFIPM+WZ5-AW.)U>Q:&7NOH:QBK,,<$UW
M'B&$/:!\<@_X5QDJ@!^S=C6T&1,JME6ZG-1R'+9]:E=R^`W7UJ%N#6ADQM%%
M%`@IRX7DC-)1F@"0RL>,X^E-!.>II!3D`/).%%,!\<<DK8&:'B9#\W3UIWG[
M1M0%5'8=3]:8S,YR22:8"(FXU<MX^1GI4$4>2"1Q5Z",YZD<U+92190;<$8*
MU#=?,.<`5;0,%P0"/6HY>F%QFE<NQGA0DBLHZ=ZB=CN/J3DU>:)CR>M,%JQ]
MZ+BL1Q<*!W]*GDEVQ`+R">2*CDC9>,&FHP/!'`]:>XB5PH``8!C][':GB%S$
M)-Q`SCCTJ+OG=SZ&I%E*)M)/T]*EC1I+*LUF!'P5&#]:SO.E''F&M*WDCCMP
MRCYL<^]5IHHY<F/Y6QG'J*N$]+&56G?4K?:)?[YI?M,P_P"6AJ,@C@]:2M;F
M%D2_:IO^>AI?MDXZ2&H:,47861-]MN/^>AI?M]S_`,]#5>C%%V'*CT<2Y6GI
M+4(B(%/2,U#*1;23(I&D&*8D9Q2.AQ4Z#;8Z-^35A6S51$.:L("/RH8XMBNP
M`S7&^*I@\FT'O_A772@[#7"^(E87A)Z$U412=VC*%-:E%(:8&QHEH)IDR*[:
MWM(XT`VC\JY?PTN95^G^%=BO2E/0(ZC?(C_N+^5,:VC88V+^53T5!=D<]>Z/
M$]P"%`_"M.WL(8T`V*?PJ6;_`%HJPO2J<G8B,=2`V4/_`#S7\J8]A`PQY:C\
M!5N@U-R[(YB^T2-KA651C-:T&EP*F#&I_`58F`,BU9%4Y.Q$8ZE(Z9;?\\E_
M(4QM+MP"5100.PK0I'^Z<=:FY=D<1=;1/,O.T93BL^7RXHHH5(3!W'(ZU?D&
MVY<R'!,A/ZU2G@\^[W,,(O/'>N=Z,ZUJC#N]ZR_-C<><@4ZUM]\A+<;5WG/Z
M5;N%$MWEN%4X_"FQ!I&D91PY"CVJ[Z$6U.Y\*VOV73N>K@-_.KFH,5C;Z5-9
MH(K2-1V%4]5<B%R/2A_"2M9&%>3E5)K++[F+>M/N92Y/S=^E0J*A(V9,IJU$
M:I#BK$9-`(NAN*<.:@4U+&<F@"S&*L1J#59.*L1FF23J`#3Q48-.!IDDN:-U
M,S10%A^:,TT4H%242+2XIBFI0,T(3*&KQ>99./:N#O8R'8"O1[I-\#`UP>I)
MM=@.U5'1B>J,;:-H(//I4;^I[TYC@D"F,<UL9,;1110(*44"E[4##ZTM-IP!
M-,!54D\"K,46.QSZ401''-6TCP:ELI(6.(`'(YJPBC8!WIJK@<5*F,>]3<M(
M>,8QG%-8^JXJ50",'%316^X@XX^M*Y5BEM9AQ3Q`PYQ6S':Q[.]!MEQQ2N.Q
MBM#D'BJLD'S97K6^UJ0.!5:2S9N<<T*0N4Q2A!R>OTJ2/&[#<^M7GM&W8*DU
M5EMFB8G)'H:?,F3RV+82(Q`%\=QZ5(\#*B8&X+T856CF3RUBF0@GD.!Q70Z'
M9^<LHDVL`./UIPW)J;7.<>%G)XYJN4<'&TYKMKK2(BI(4C'I5>ST:-SN=3G-
M;W.9ZG(^6_\`</Y4;'_N'\J[]=$M\?=_04'1+?\`N_I1S(5F>?E&'53^5)SZ
M5W5QH4.W*KS6)-H["5L#CZ4)@=:>E/C'2H2W%31L.*E@B8"D:E!IK'BI+8B"
MI1449XJ44#0C`$'Z5P_BS`N@![_TKN'.%K@O%+[M0QZ542);HQJ::=335#.F
M\-RJLR@^G^%=DC`C(KS739)4G7R^M=E97,_E#<N33DKZD*7*S:S036=]JF_N
M4C7<I&`AS4<K*]HB>21?.`S5I2"*YES>FXW@?+^%:D-W(J#>AS3<>Q,9J^II
MT&J/V[_9-->^^7A34\K+]I$FE8><*M#I7,S7MQ]J!"';FM>*^&P9&*IQ9,9J
M^I?H-5/MR4->IM.*GE9?/$Y+5,#4'>7[OFM@CIUJI<S$1E5/TP.0*76Y)#=S
MKG(#;@#W.:9#(JH$<@ECR!VKGDCKB]"A(F`G0LQY/UJS;Q,GDPKT1RQ/K2O(
MB]P=IS@TZU?SI`6/).<CT]*!V.[1QL!K.U=\6K@=<58CE7RESTJE>GS8G)^[
MBDWH3%:G*-G<<U,@XJ-^)6]C4B'BF6.Q4B<4W%/7%(9*&XJ6,U"*GBQ0!80\
M58B-0(.*EC-,DLBG"F*>*>*9(ZB@4M(`'%+F@44ACA4Z5"O6IQP*$3(609C-
M<5JD69G&*[0GBN1U-D\^16.,TWN..QR-P?WS8&!G'%0FK$ZKYKXSM!XS5<UL
M8L****8@I1S12J*!CXTS5N*'&/6FVR#&3TJZH'7\JELM(%3``Q4BKSQ3PH)4
M"G,OI4W+L)3TP3S3MM."#/2E<I(L0Q`]":N1H%%4XBP&`:LJ34E6+2GBG=:A
M5N*>K$T@L2@5*D(8=*B3FK=N*0GH-6S5A@@56O[`+`2HS6NG%,N>8'^AIV(4
MG<X64%8V4XQG@&NN\*6YCT[><AF/4_C6186*7VN;'!,2`DXKM$1(T"H,*.@K
M:.QE4=W89(N5(-);J`M.E^X<4EO]RKZ&/4FHQQ114EB$<53=%WG@5</2JK_?
M-4B)E/)XJ5&(J0J,C@5*B#T%4V2D,#G;4;R&K>T8Z5&Z+Z4KC:&1,<"K"M38
MT&.E2@"DV-(K7$A5#7G^MRF749,]C7H<Z`J?I7GFN`+JDP'K51V$_B*---**
M.],9T'ARW$DI)'3_`.M7910J%'%<SX77@G_/:NK3I14>MB(*^HGECTI/+7TI
M]%9W-;(88U]!2>4I["I**+A9$7D+Z"CR%]!4M%%V'*B$P+Z"D-LA[5/11=BY
M40?94]*3[(GI5BFR.L:%VZ#FBX<B.4\26R07L<AQM=.GOS7/H4W88_Q=QWKI
MM5U#3]4B`CD'G0-NVG`SBL"Y<2,`<#'/3KFLI;G3#8@FMX2,MN0D]1201LDN
MT/NQBI3$6"[6)[GVJY:V+FXR$^7Z5-RTC8MRQ1,],5-*N8G'M3A$4"C%.*GR
MFR.M0.YR-VFRX;C'-)&W-:&IV>9&?G/I6<JE3T.*I:@RPM/04Q*F5*!CU7FI
MXEIB*:GC&*!$B#BI%%-0<4\'%,1*O2GBHXV!XJ3-!(^E6F;J>IH`<!1BE&,]
M:7('>D,<@YJ;M4,9!/!!J<\BFB6-'/%<;X@0P2L[<9Z?7%=DN0:Y[Q@H-M&0
M!DDC]*.H)G#;6FEP!DL:V+C1D%EYB@K(JYZ\&J.E)ONU/H:W->OU@L!`A_>2
M#''854F[I(<8KE;9R5%*:`,UH8B"I8ER:='`S=L5=@M@%R:392B)$,#)JQ&I
M8Y[4Y(QC/I4ZKCMFI;-$A47G\*EV?+38P,YJR`&Q4E)$16GH*D:/`I-O-(H>
M@YJ9:CC'K4ZK2&*!Q4B"D`Q3U]J!7)$%6K4]JKKP*GMC\](EEU>E17;$6TF.
MNT_RJ513TC\Q\$<$55KF=[:F7X<C\E6EDX9LFMT3ICK4'V).PIIL5KIT.6\K
MC+Z^2).M+8WJ21@YI'TV-_O*#]:%TY$'R@+]*?NVL3[U[E[S5]:#*N.M4OL1
M_O'\Z0V1_OM^=*R[E<TNQ;DG5%R365+J*"0C-3/8,W!=L?6H&T6-CDCFJ5D2
MW)]"\#DBK$=9D$Q8`U=BEI20XLM=JC>D,G%1M+DU*13983I4E0QOQ4@:D4AD
MYQ&?I7G&N-NU:?\`WJ]`O9Q'$V3V-><ZB_F:A.WJYJUL0_B(!0/O"CM0OWA3
M0V=AX77]R3[UTZ_=%<[X97%L#71CI2J;BI[!1114&@4444`%%%%`!112B@`K
M+UB\%NJ(W20,/Y?XUJ5SGBI6V0,,X&>?RK.I\)K12<TF<9*C)=NW(.2.:<US
MS&&Y/0DU>N;<RL&^[*`"0>]9KP2?:057)!';OZ5G&5]SHJ1ML:UG&KW:1'JP
M&>?>NJCA6)L!1@5RFEJ6U>,=#D9KL9!M:AF;9&S*TG3@5+MS&>*@C^:;IQ3K
M^\6UMVZ9`Z4>8GV,R_"AFW>E85S-&I.WG%,U#5G=FW'`/:L1KAV)RQQ3C$;E
MT-R.X0XY%68Y5]:Y@7#*V034J7SJ>I^E7RD\QU22#UJ9'%<RFIGO5R#4@Q'S
M4G$I21OJXQ3B>*S8;H-CFK2R@GK4E6+,9.:DWD5%&<'-1W$P1<GB@5BQYX'6
MF/?*@SD5@7>J@9"GFLUKR>0GKCZTTA-HZAM64$_-43:ONZ']:YP>;U!09]6J
M2+S@>BFG9"U.DMM3*29)X-;L%PDJC!YKDK=&E4`Q`8]ZV+,LF!@BL[V*:N;5
M<_XK.;:W/_33^E;J-E16'XJR+"-@/NR?TJB#E]+M6>\<J<;">*I:JQ:]=7.2
MO'-;&C/BXD..I["LS75`U67`Z@&K3]X<E[AG=35JWAR<FHX8\GFK\*<4VR8Q
M)$CQVJ:-<9STI$&*D'2HN:B$?E3Q4;-FD+,!Q0(M1K5B,'TJC'-(/X2:NQ&4
MC.,"BPTRSM'`)IXA4UGS-.O(4U"E^\)Q(6_&BQ+D:_EXI5.*IQ:G#)@%N:F\
MT$Y#`T-#O<L;N:ECP35/S*M0L,9J6,G)P*EM^#FJY/-3H0B9+8^IJ0+T;;L5
M:@'[S\*Q)=5M[<`!U+>W-6M/N9[B97P0A^M:1,I(VCUHH]*.];&(48HHH`,4
M8%%%`"8%&T4AHS0(QK91M`%:$47`K,M'SFMB$YC'TK2>C,:;N@,7%1M%5GM4
M;=:A,T:$2/`J0+2KTIU(I(RM5C)@8@]C7GMP,7,@]&->E:C_`,>[G_9->;71
M_P!+E_WS_.M%L9_:&=J5/O"FTZ/[]-%,[KPXN+-?\]JW>U8^@#%E']!_*M@5
M$]Q4]@HHHJ30***6D`@I:**``T@I:*`"J>JP+-9.&'3!'YBKE-<;D8>HI-75
MAQ=FF>=ZC*3?R,.,,0/IFK]I&EQ;^<.'7K]<52U6+RKV53_?/\S5O1F`M[G(
MX$9_I7*>C)>[<DLD":G$X`)8CG\:Z68[JYG1?WE\&Z8.,5U$HR<5J<LMRNI$
M2EJYC7+MIR0&..F*T]8N?)C*Y_SQ7*SSEN,U*U9:22N0E!G)%,=HQV!-1R.2
M>N!20PM/GG`':M4B&QK3`'Y54?A3-Y8\D?E4;1-@XYQUJ6*W=Y8X\#)]*JQ%
MP'N!^52QHF>"0?>I;JV:V.TG*]C57<%Y!J64K&E!(5(&:T[:0L1S6)$^0#6I
M8OG%2RT;UNN[%+?0H(B6`P!4FG+NQ]*-9'[M8NQZ_I6;'U..NF,LA6)0H]:J
M2CRL<;C[UKSPJDNP?B:BGB#QKY:\KUSWK1"=S)@F#N0VU``2/ESD^E7[9G>,
MR&T)13@LAQBB.PE)(2(*&[FM[35>TMO*C`W'J:IM6(291@E6.,S02,ZC[T;#
ME:W["Y6>,$56_LAIR9W/S$8(`XQ3;2S:UEQGBL6]39:JQN@@+Q6?KL7FZ:ZG
MZ_I5Q#E<5'>)NLY1_LG^5.YG8Y71HP+AQZ@&L;53NU2?V8BN@L7$,4TI&`BD
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M"16'HFAP"3SYD'F@[AC\ZZ0#`QZ<5<8K<QG)[!1116AF%%%%`!2TE%`#6IN:
MD/2HZ"6<W9S8W?6MZTE#1CZ5S-J/O5M6:L(ABMZB.>@]#4+"HV8;JA;?3!NW
M5C8V;+JGBGU73.*>">?H:1290UB39:/]#_*O.G.Z5CZDUV7B%I/(?&<5Q?O6
MFR)6K%I\7WJ93X?O4UN#V.[T1_\`1HQ[#^5;(/RUAZ-Q"OTK:4Y`J)[BI["[
ML4X'--(S0%J2R2BD%+2*"BBB@`HH-`H`****`.+\40>7?%O[PS^IIVAIFPE_
MVR5_05O:U;+.(RR;@&&>/K61-(L5XB1KA5`X`[@US25F=T)<T+$&@P^5J$BO
MG>#S^==(>&Q4,,<;,DX`#%0&J;>"<U:,&<WXDB)(8?YZ5R\JG)KMM5B$F,C(
MKFKF`+)SCZ4D[,TW1E!-[8Q5V"$H!A.M0RV[;LQT1O+&>0>*JY-B5K:)F)*L
MI/7!JS:PQ0G<H^;U/.*A2Y<C&T_E4@>4]L?6GS,?*A;NSCN%W,S$UCRVWE,>
M<K6P58CDFJ5U$S\#IZT)B:*D1QD5HV4F'%9^W9C%6;4_O!28([#3).GTJSJ2
M;U63TK*TN3+@>U;Z@%!FLRGH[G/S(N20`6K/+*KD,-M=1/:HX.%YJA);KG:R
M@CZ4T-,SHO+(X?FM&VD4'L:A>TA_YYC\J:D:(<!:![FNLZHG-0JS2/D56C8=
M,5:0#M4BM8LKQ1-S!)_NG^5.CY%)-\J,?451'4Y>_'V?1I#C!<X'XUS*CFNV
MOX!/`58<=:Y.6,).R]@:J,NA30D8Q4Z=:8@XJ1!0QHG2I,9-1QU.HS2&/B.*
MLIR*K*M6(CB@!LP>,[MN147F;NU:D+;AR*E,$;=4!_"BXF9`GYPRT]9-_P`J
MID&M/[+$.B#\J7:B*<*!^%`&3]G50Q"A?I4*IAZTY>2:K;<-3`N67W`*U9(S
M)I\D:?>.,?G63:'!Q6Y:G]W03(YE_.5MI'`K3L0<`D5H3JC<$#\J9%$!@`5+
MN/F5C0LAE<GK5JHK==L8J6MX['++<44&DHJA!1110`4444`*:81S3J0CF@1R
M$!VO70V&#`OTKG1P];VFMF!?I715.+#OH7V`]*8H&[I3STIJCFN<ZV2A12X%
M`I:"S#\0(OV*0X['^5<!W-=]XE;;82?3^E<`.M6MC-;L=4D'WJBJ>V&6'UJH
M[A+8Z_2W(B`K628CO69IL),2FM'R34SW,HW+*2@BI0<U5CC-6D7%0;1;'BBB
MBD6%%%%`!124=Z`%H-)10`UU#(0PS7'WLCVVIRR,A*!CV]Z[+CFL/Q!:*T)D
MC(W'JO<]:SJ1OJ;4I6=AFDWJW5L^W[P8C'<=*N!O2N:T*;[/>M$W!<8Y]<UO
M[L<UG<T:U"X`9#G&:P+^S=OWH7`[UM_?:HM3`CL'^E(:['-I'4HB![4D1&:L
MHHQ5%6*YB`Z`4K*.P_*K#*,5&.33"Q&D6[KQ45W&J1Y`J^BYJIJ*[831<EHQ
M''-20'YA3#UI\/#"F(W]*/[T?2NGC'R5S6ECYUKI4^[4#F13OL7W-5F&[DXJ
M:[Y52.U0AE`Y-"$121\<5!L^:K9*D=12!$/-.PT[$,<635M$Q34`%3)18&R6
M(5%=G]VH]6Q4\8YJMJ#A/*_ZZ"D]B5N5-0Q%;;AV'-<?=$&Y8CUKL]2MS<0\
M/A2N2*XVZ39<./0U,=S3H)'TIXIB&I!5@2QU93&*KQ\"I0V*0$ZC-3JM5D:K
M$9H&68015E7Q5>,\5*#3$R;=3'/%1O*J+DD53EO=W"F@18.,G)%1,!DU$"S\
MYI"S*>:8RS;@AZW;4_+6%;OEA6S:G.!ZT$3'W"]Q2P'@52FNRMPT9JQ:MN"X
M]:5Q-.QL1?ZL4ZDC&(U^E.K=',Q****8!1110`4444`%%%+0!QKU?L)F50,U
M2?I5ZP0,HKJGL>=2^(TQ,2!S3TD-(L/`J18ZYW8[42*_%.W<'Z4@3B@K@'Z'
M^525J<SXIN@;5DSR?_KUQHKH_%*,IR>F?\:YP58HCJL6@^<?6JU6[(9=:J.X
MI;'>:8!Y*_2M(#BL;39,1J*U5DS42W%!Z$N,4M-5LT[M4FH4444@"D)'K39'
M"C)K)UJ1TLFD0GCTH6K`U+B7RH'DQG:"?TK+LO$EE<@AG\MP.A[UCZ/K;7$<
M]I<MEMK!3ZUQDK,EPP!Q@UHHJS3);V:._P#[5NM0O3#:.(XUZFM&2_BL5'GW
M.XYQR*\XM=1N+4DQ/C/6H;J]FG??(Y)H:Z`CNM0\1R0:DEJL8VL0,Y]36/XN
MOI$OD"N<!!Q5;3$?5=6MY2/EC"ES]*H>*+CS]2E8=%;:/SH6C!ZHT6OGE%FR
M@*4P7;UKJ`XD4,IR",BN`-V3;K$!C'>NI\-WGVFP\IC\\1VGZ=JQK+J;TWW-
MA,`^]4-:E'V=USSCI5POM4GO6'J\Q(*^M8&Z74IP=!5U>E48&XJRK50R8FD(
MQ29XJ":;:*!E@SJG4U5OG\^(A:S;B9B>#5RQ?>,&FD0V9FUD;#=:GAC).:??
M*/.7%6+9,J*;)1I:63O7-=&K<>U<_9+L8&MV!MR@5(Y`XW*0:SKY#'#O!.*V
M-F5XJO=PC[&^[TI6!2.9^VO&V"V15N"]W=ZKW-LLJG;P1TK+\QX)"K4[%W74
MZ>.?=WJ]`V>]<S:W><<ULVL^<<TK@XZ&RN-IK)UN4I'&<9_>#'Y5H(^5K+U@
M[O)!_OY_2B3T,XK4M1'S+3+?W<?I7):FFR\?CO74*_EPKSP1BL/5+9WD,@Z5
MG%ZFMC)6I5IH!!YJ1:T$2#@4%L4@Z4AYI@2HU68WJCTH,X4X)YHL%S624`=:
M1[D]%Y-4[?$@RS?A5M8U'2G85R)U9@2W-9WFE)SZ5M[`RD5D7=J\<A(&0:8K
MEN"X7`R:DDD!YK'!QWJ>**:8A8\G/K2'<U+>7FMBSG(D7TK!ATV_3YEBR/9A
M5U;C[*/WH^<?PTFP=GH/UMU&I#9W'/Y"MG1XAL#/U]*YUI/*5KZZ.2?NKZGI
M4-GK(@N$E=FWR'I_=%5"/,[D3=HV.^]J!4%E=QW<*R1L&..<58K4Y@H-%%`"
M44II*`"E%)13`*,T44`<BW2KNFMC`JF>E/M)-DE=3U1YL':1TBGY13EJK%,&
M4<U8C;BN9H[DR84'H?I2`T,0`?H:1H<9XO;E1[_XURXZ5T'BR0-<(!_GK7/B
MK(B.J]8#YUJC6CIP_>"KCN3/8Z^P3]VM:*+@51LSMC%7T<&LY;DPL.'%2*W%
M(O-*6"U)JAV:BDF5/K4<LH`ZU0N)04/S?K18HI:KJIC5AFFZ5?\`]JV4]NWW
MU&?TKFM6G#S,JG.#ZU#HNH?V?J<<K-B-OE?Z5?+H3?4MZA9BPF\WS`'Z@5@W
M/,F[UK5UYI[BX^TGB"0GR\=Q63(3@*W;I1<=A!TH<'%`<4%CCI1<+%O3]3FL
M8W6)L!Q@U3NY/,#,WWB<TU1EQGBBZ'[L4F"%B!:/<:T/#]\;34T#M^[D^5OZ
M50MO]34`)WCUS4-7T*3MJ>F3\$BN>U9OW@^M:FGW/VK3(9"<N!AOK65JZG(/
M:N5?$=E_=*\3<BK2.,5F1N:G$A+;0<5I8FY<DFP,#K5">7)Y.31+)MX%5"V3
MUIV$V.9NU26LWEMBH#2=Z=A7+<K;WS5RT8<5CABIX-3PS$$$'%)H:9TT)&,B
MM&UF7H36!;7@V<FKVGS[WYJ+V+M<Z))0$XZUD:G?L[>2!@=ZG>YYPIJ`A)B2
MXYHN0E8H<,N`>:H74&\$'[WK6M+:D$[<^M9UQN4-GM5I@S)5FADQ6G97N&`8
MUG-(&DZ5(J[Y5"BDT.+9V-M,&3.:PM?U)+:\MHF[@EO;IBM:R0I",]AS7$>(
MV:?4)9#V.!],5,5S;BD^78Z.YN_/L0;=P2,'BJ46IETV25RBS2(<H[#Z&K$-
M\VX>9R?6J]E82K&[(59LK315>*4.`0:F!S1:Q=[DHZ4HJ,&I$ZB@"98]RY'6
MLN]MYH9"PY4\YK?50(5J-F`X896FF*US#MW<JNUN35I+B=&QG-27-D&/FVV`
M>Z^M1PL%D_><'WH8[6W+"ZC*GW@*L)J:.N)%I&2&0H,KFK;Z<KR($4;3UHN%
MT4G:!VW!<5<MFB(&WC\*M-I4*`%5Y[UH0VT4-OD!00/;FHDKC4DAOVHVMFNU
M>6Z<UG+"IW7-P<*.2:TKK:8UDDX117$:OJ<M]<E%)2%>`!Q^-.,7(AR42;5;
MJ2\NHRIV(I^5?3WIL$4EQ*8P$9V'#&J*(V["$LU7?L]\CH/+8<@[AVKH2L9<
MQU_AZ!].@56^\>OZ5T:,'4&N<M!)Y2;B2<#-;-JQ"#FAF;+E%(IR*6D(*0TM
M!H`2D)H-)3$)NHR:0]:=B@1RIZ5$H_>5)34XE%=:/,ZFI;!@%S6C'G;5:`#R
MU-78AQ7/([X"C.*9,Q"G_=;^1J<`4R505/\`NG^50:6/.M?D+WFT]O\`&LP5
MJ>(U"ZAQZ?UK+%6Q+8=6IIBEI!66*V=)'[RKB3/8ZN!<(!5A5VC<[!0/4TEM
M'\@<]AP*J:I-&L9,LH0?7K4/<(QTN:B.K+E3D8ZU!-.J+N=@![FJ>DWD<]NZ
MQL&*#UKC]>N[R2\D268A`>%4\"DHZV-+V1NZAK=M$3NF!QV4YKGK[Q`TZE(`
MX![UE%!WIAP*JR0KW`O*2234<C2;>HJ:HY!Q1<">*]DELH[>0Y$9^6HY>2,B
MH+?[Y%2R\.O-2QH`N*!G=@T\+FFC[]`#&&'HN?\`5BG2?>%-N/\`59I,:%MC
M^ZJNG,RCWJQ;_P"JJO!S<#VI#.G\.W82:2U<\2<K]15S58_]&?CD5ROGO!,D
ML9PR'(KL%ECO[)+A.5D7D>AKGJ*SN=%-W5C"M%W-@U')NCF?/K5DQFVN<?PG
MI2W2A@6'6G<;11:3)YHPI/!%(X!R*JR1E>AJD(M[/>D*G%002,6"$G-60"<^
MU&P6N1;:4+[<U(/I4T)C#`M1<?*-MQ-C`C+>E:5JEZGRJH4'\ZF@NH`H``S5
MV%R^"B'ZXJ6T4HL=;PS?>D:K+/%"OSL,^U/CMI209"=IJ/5HH[9'DQN.!@5*
M5V)M(R;C7P\C0VD1)'!9JA:TFEB,MQ(3GG"\4NG:?@ER.2VXG%:CH-F.P%/1
M;#MIJ84=J@)P*MV%G^^SCO2A,2&M6PC"C>12;$M!FKSFUTN4I]XKQ^=<;>2/
M=6JS2*H^7:`#SQZ_G75:G()X9>ZXKD[FY+6"+Y06,.0&SUK2FM#*H]3.,1*Y
MJ$C!(-:*#$8%0R0AGZ5T\FASWU&6EPT+8)RM;$,HD7*D5CI;M\V!P*=%));M
MD`X[BLY1-(SL;@J6/K5*WN4E'!Y]*N1FLFK'0G<T8W!3!I'0,IJM&]6XR&%2
M446=X)..E2@V]P,NHW>M230[L\53:%E.5R*"E*VY:%ENPT<NTCWK2M3-%P[J
MP]<UC1SR)P<U:AGD8X&30QVBS969W;&Y0OUJ[!&LNW>XP.P/6L>V@GE;@$?G
M6LL7V6TEE=OF1"W7T%2M61-16QF:M>G>\,:%D4[0/6L^+2UD)>X`7(X'I69#
MK#?:VEG&Y><>U)?:]-<`I:C`QR:ZTK(Y[FS91Z?;R^5PSCG/!K65HC_=/TKS
M>&>6.3S0YW>I[UO:+JDLLACFR2>AHT).PC=>Q%:%MRF16!#(789R!6Y:R#8`
M/2I8F7%8BI0<U`K9J13@U($E)2YHIB$II-.IC4Q,.M+BFJ<4[=0(Y//%,)^<
M&G+TIDG%=B/+9LVTG[E*TH#E:YZTF.56MJWD(K":L=U*5R]CBF2G$;?[I_E0
M'S4-S*!&X_V&_P#0361NV>>>('WZF_M6<*LZM)YFH2D=,U5%4);#QU%=+X<B
M624E@.*YE?O#%=IX9L)$C\^484]!ZU:=D9R3;LC<E=8UV@\XZ5P>O7;RW;[F
M)56P!V%;<NJ!-5F61ODP5'MS7-W>)9I#U!8FG35F5)Z'2Z(T'DPS6Q"CA9`/
MZUS.I;FO9MQY#D5%IFHOI=X5;_5/U%7]8B4W/GQ\QSC<#_.A+4;U1E.GRYJ$
MCO5IQ\GTJJ.:&@$'2D89%*1Z4AZ&LRBO&=L^/6II_P"%J@Z3K4\W*BA@A\9W
MH#3?XZ;;O@[:>X^84#"09.:CN#^ZJ1CS45P?D%2`^'B&JT'^NJRGRQ"JUM_K
M3]*8#[@XK1\-:BT-T+61LPS'`!_A;UK,G.:KJQ5PP."#UJ6KJQ2E9W.YU.WW
M1;E'S*<UFA]R8-:>F7BW]FBN1YNT;O<>M9UW#]GG9>Q/%<\=-&=+U5T56'S4
MQTR.E3@9%(N#P:H11,1#97K5RSSAA(.O>D*[&YZ5+$=ISU%.XTKEJU@CE0GC
MZU;L;*%B0Z@X-5(U`7$1V9]*FM6N;=STE!YZXHT'RR-6/3K>.=&$:G/M6KY<
M209"(N.^!6`;RY+*?+50/5LU)</<7D'E.WR'J!BC0GDFS8O+^&WMU`&]R>%%
M9;&2]NR[EMAQ\F>!26]@%4$G-:5M&J\"DRDE$DAMT2$@*.GI6=/\NX5KYVK6
M9>+^\..]22F4XHM\@XJY<-Y4>Q./I20J(D+-4$C%F)-(HJ7!"VLN?[M<C/-'
M-#'$D`4AR=X/7BNFU241VLV>A%<NGEO<;D4@**WIHYZK)MO%,'WB34I/%,'(
MKK.<T+"-3`2R@Y:GSV,+_=&T^U.M4*PJH'.*L"-ASBM;*Q&IB3V4L#%DR0.Z
M]:6VO63Y93D>M;9&>#T-4;S3!*-\6%;^=93I)[&D*C0Z.?=RIR*NV\WO7-YE
MMG*ME2*NVM\K'#'!KDE"QTQJ7.HBVR*.>:D^SH>H!K)M;K'>M*.Y!%9V-KDO
MV.$]4'Y58@M8DZ(!^%-1U-2"=%/)%*PKE^V10.`/RJMX@E,.E3G.-R[>OKFI
M[>7@%><U//;K>VSPS*"K`C%5&)E)GE99D.%P01T-3VULWFKYK;%D'&*V=7T9
M;,!(1ND#8_"I;72]RHURV2O0#M718S4EU,3^SFF"BWCZ'DUT&G:>MM"/E!D[
MDBM"*)(UPN`*<98(_O.*=AW&)"_8XJ_:.R'#-FJ7]H1#A.3[4@N99#\B'ZT-
M$FXLP]:F289P36%]FN95R'V_05"UE<QG=YI-3RB.M1LKD<TX5@Z3=R)((Y#D
M&MZIV`0TTTXTTB@3(Y.!Q4&]O6I9#BH:I&;.<7I2.*1#Q2OTKLZGG/8L6BC<
MC>];D"Y-<_;/C:/>NALSD5C5.J@[ED)5*]0[)#_L/_Z":T:J7Q`AD_W'_P#0
M36".IH\ON\BYD!_O&HUY.!R:?=ONNI#ZL:Z'1K"WL[!=0NT#N_,:GM[U7470
MET#P_N"W5Z,#^%*ZCSAY@C0?*HK/L=0-Q:M/+@!3@`4MG(\B3SL-H`P!0T[Z
ME*W0XZ[^>5V)Y))J!01QUJU(,DDCJ:BV5UV,"E>1"2(_WA4MC?B>R^R3'YXC
ME"?U%2LH.:Q[A#;W.5X&<BLYJSN5%]#6=<CBJ!RLI4_A5R"7>@/K5>]BR-Z]
M12EW*&$4G'.:2*3S$]Z5JQ9:*LHVRJ?>K#DLE0W`P0:F^\M(9`&V.#5O@\BJ
MDHQ4L+YCZ]*;`5S\U0R'<RKBI':HX^6+4@)B<*1[56MO]8?I4[G@U6MC\QH`
M?/WJL:LRU5-(#6TZY>*%98SAX3^8KI#Y6JV8EC.'`Y'H?2N-LIO)G&?NMPU:
M<5Q-87.Z%B%/..S#TK*<;ZHVISMHRZBE)3&_#`X-,F4I)D5HR>5J%I]J@&)5
M'S#OFJFX2<-U%2G<T:L0O\RTD;8.#4K18&1TJ)T.<TP+*,!T-68WZ5FAG3CJ
M*FCDQCDTK%J=C35UZ]ZD23;R.M9WF$C@FI/,(&,FBS*]HC:AE+CDU=@:L.T9
MSWK7B;"^]2]R'J6F;-5I%W/FID/KWIMRPAB9NY'%!)2NI`&5!VZU7+9--+%B
M6)YS0N2<`9S0,R=6CDO)X[.$9>4\^PK,NXHH+AH83N2/Y=WJ>]=3J;QZ/8M*
MN/MMQ\H;NHKCR>_7-==*-E<Y)RNQ'.!BI;=-\J*/7FH2<G%:6FP[LR$>PK9:
MLS9>ACR=V<5*S8!!YI<;0,8%1L<Y]:U(9`TA!Q1Y@3JU03'GBH@C/]YJHDDN
M/)F!#@?6L>X@V,=AR.V*V$M$/WB?SJ4111\JH^N*SE'F+3L9-FUX.!$SKZGB
MM))+I1DPM^8J8.0,G@5(`S@%LJ/2L_8Q-%5:(H[R[9@JQX]R:F*S;MXE)D';
MM30^UMD8ZU91XH(V:49X]::IQCL)U'+<Z'1+D7=HKA=KJ=K+[BKMY>)9Q;G.
M7/"KZFN0TS5VMHI70(/,<D9["I4NUO[L223*S9P`#T^E2Z>OD"E=&O)%#>*\
MK2;)FY^E9+6EW%DS2A5'<#K6_:6<!C#$;B>]7##$R;&0%3V-3S6&U<XQ_-D.
MV)B?<U8M=,7&Z5BQK4N[(6TF8U^0_I1&,53=]@2$@M8X_NH*M*H%-45*M0V,
ML6_3!%6#$C#I5>&K2UF]QF?+:^7,'%;*'*`^U0.`PY%3I]P47`=1110`QD#=
M:B,/-6**=Q-7.*CZ4YNE1QFGGI7:SRN@D)Q(OUKH[&0$XKF8O]>*V[`GS*SJ
MHWP[-O-9^J/B"7G_`)92?^@-5HL0E8FJ7#9D4_\`/"4_^0VKG2.QLX''F7&W
M^\V/UKK=6_=)!;C[J1@`?@*R/#6E-J-\)7'[F)MQ/K6]XBA"2JX],?RK2F_>
M$U[I1T2\7S3;S$;!R!ZFND<!;&08`R.U<'(QBN-RD@CI72IJR2Z,3N'F@8(_
M&JJ1UN@@]#$;.3Z5$W%2C!&1R*:Z<9%;F1&5!&1P:HWT'F1$@<CFK],D4&DU
M=6&M#+M&/DANW0^U6@P<%35:("&]>$_<?I3B3%)M/4?K670NY4YM[H@]":MD
M47L'FQ[U^]UIMNWF0C/4<&LVBTR"Y'%+&V5I\RY4^M0QG!P14E!,.#20'@U*
MPW+4,`PS#WI`/D.!FDBX6DDZ4Y1QQ0`LA^4_2J]OUJ:7A#4-OUH`?+59N#5F
M7O43KF)6H`B!YS6Q$1<VJC^(=#[UCU>TV7;(8V/#=/K2#8O:==M9W08YV]'7
MU%:]W:K@7%N=T;#.?:L>YBR/,7[PZ^XJUH^HB$_9YSF%^A/\)K&46M4=$))J
MS)XI!T-3F($8J&\A^SS'!^4]*EAERN#2WU*V=A#:DCI3#:D5;60KUZ5*N'%`
MRC';2,V*LQV;YYJU'@'I4JN,T""W@V=JMQ`EL&F(PJ6-@&I6"Y:0#%9VIS[Y
M!&#PM69;@11$YK()>:4G!))H`<.3W_"M2RMU@0SSX&WD9Z4RQLO+'FSCCL#6
M1XHUC"_8X&Y/WR#TK6$+LQJ3Z(QM;U$ZA?-)G]VO""L[--SFES748#D4NX5>
MK5T%O'Y,*@#H*SM,@);SF''\-:$LFVM(HAL)7P,YQ55ICG`_.FRR;AD\**A3
M=.V%!"U>Q.Y(&WG"C)]:LI&J+EFYH2-(EZ#-1-(TK[5[=3Z4`/=\G"C)J-Y%
MA&9&R3T%,GGCM5POS2'L.II]C9M(WVBY.6Z@=@*EL9-;HSCS9QM]%]*))3*^
MR/K0[F9]L?"+P32LT<(Q&/F'6FA$B(L*]<D^M07(\Y"N>6[4%F(]`>]/C7`R
M>E`;[D45F%7Y_F]NU-EMXR?E!1QT9>#5DN6&U!4D2!>2,GUI6'<T_#M_(K?9
M+IMS`91O45T8.>AKB2YCN(IHB-R']*M3:K??=B<#OSFLI4[O0T4CJY(UE3:P
MXK.>(Q.5(X]:CTF^DNHMTK;64X8$XYK36:"7@,K'Z@UE9Q*W**U(M27$2J`R
MC`J-:`+,?:K*56B[5:7I4,:'8J<=!4(J<=*2`****8!1BBB@#AXZD-1(:D/2
MN]GD="-3B45T&F@$YKG>D@^M=!I1R:SJ[&V&>IKE04K!U*#S;GRU'S/#*H_&
M-A6\>$S5"&/?J!E/\"G%<R.V6Z&Z791:=91PQJ!P"Q]3BJFOQK):[SP15^XG
M2-@,Y)Z"JVHJ)+/:>N*%H[EOL<+?##ANH-)"Q_A)QZ58EC\W>GY&JD9*`J>"
M*ZS`N1D[>O-/YQ5='&:L_P`.:H1&Z8Y%,ZU(K[N.]1E<9-`RC?P%TWJ,.G(-
M1!OM-J)!_K$ZUHG#`UF`?9;TK_!)425G<I$MM)YB;342+Y=TR=F&0*9$Q@NF
M0]CQ4UY\KQ2CIG!_&HZ#'2(*JNA!S5\KN3-0,E0T6F5B<"H86W%O7-2W'"FH
M+?H34%#WR6`IX-1M]X4\>U(!LOW#4</%/F/RTV+C'TH`62B/YHBM#_6DA/WA
M3$0,NTX-`)4@C@BII%W_`%J#O@T@-NQN1<Q`-]\=:;<6O5HA@]U[&LJ"5H)0
MZ]NU;L$Z7*;E/X5+12=B.VU`[/(N<M'C`)ZI4BR-"XRV5/0CH:9<6PDY'RMZ
MU4_>0\,./TJ.6QHI&TDX9>#4\4Q`P#6''(3@J:G2>0>]*Q7,:[7)4=::EV0W
M)-9F^5^`*?%#.S=!^=%@N;,5VQ/!JV+@(N2_-4[73[DJ"1M'J<5J6EBD;94&
M1_4]!2Y6QN:1!'#-=D%OEC]ZT;>U2/'EH,C^(U+Y2("\KX('3'%8&M^)8X$:
M"T(+="U:Q@82FV/\1:R;./R('_>M]XC^$5Q;R-*Q9B23W)ZTDLSSR%W.YB<Y
MH%;)6,QP`J>R@^TS[?X5Y-01HTT@1!DFMRV@6VAPO+'J:TBKLELF;$48"X``
M[51FE)^9C\O\Z=<S`9W'@57BC:X?<W"]A6NQ`Z%6N&RPP@Z"KN%B3@`$4U5\
MH8JC-(US-Y,1_P!YAV%+;5CWT1*97N9"B'"CJU,NIQ;*(HA\Y[U+-)'90!5^
M]V'K5*RC-S<EY#G;U^M2W;U&D6K"TW/YLOS-UYJ_*WF,(X\J@/S8[^U"_NXB
M0.2<"FN?)0*.6-4E8EL8S!,QQ#%(46-<MR?6G+M1<L>3U-1&0.=['"+0V-#P
M<#<QPM.A5I3ELA.P]:A@!N7W.,1CHOK5F:4#"(.:0#]ZQC`QFF;F8]<#TID8
M'.[DU(TJ0H3U..*8$D<8SDG`-2*(5R2F_P#'%5!(TBJP&WW-.7<QX)8^IHL*
MY;:?:A(.Q3Q@5:T'SI)RX)VU5MK!YW!?[M=-9Q16D``X%9SDDK(N*ZLLD#:`
M1GCI5:1-C\=#TJRDJOR*CE7/3M7.:"PU94BJ\8P*G4U+&B4<&IQ5&ZD\JW9_
M056TG6([I`DAQ)G%),=NIKT4G;(I<TQ!129%)F@#ADJ7M4*&I<\5Z#/(6Q$Q
MPP-;&E3X:L9SS6KI*ACFIJ+W2J#][0Z!I`8N*C&(D.?O%23^1IC31PIEB,@5
MS?\`;+W.HS`'Y1%*5'T1C7(HWV/2\V:A*B?>Q!8GJ>U4]6U6*-#$AW2="?2N
M9GN)F);S&)//6JYE?J>:VY.XN;L6U?)]Z;=1!E\Q1SWJOYK58AFW<5JC-E3S
M"A'I6C;N)$JK<V^WY@.#4-G,8I=K&C9@7&^20XI_#+S3;G!0.*;$V<"J$-(V
MMQTJIJ$>^,..J'-:)7/!JI.#&,-R#4R6@T4;],>5<+T(`:G2'SK)AGD"IVC$
MMBR'TXJC9R=4;Z&LWH_4LNV<GFP+]*'7%5;!]D[Q=L\5?E'&<4+5#,N\J"W^
MZ:GN^2:@M^AK%[E+8<W6E4X6D;K2,?EQ2*&R-E32IU'TIKGY/K3E^]^%(0K4
MV/[Q%*>M-7_64P'FHY4SR.M2GK32*`*]213/"^Y#C^M*Z9Y'6HL4@-JUU!)1
MM?Y6]ZN&/</NY%<T.#5JVOYK<@JY(]#S18#<C@M,_O(6!]5-78K?3C_%(/PK
M,@\1;<>9`C>^*NQ^)[9/^75<_2GRAS&E#:V6?DB>4^A)%:=K;OC]U$L0_,US
MC>,2@_<VZBJ<_BW4)/N,(_H*.4.9G<^1&HW3/DCN:H:CXAL[&(JC!W[`5P4^
MJWMQ_K;ER/3-5268Y.2?>FDA&QJ7B&ZOLINVQY^Z*R,ECD]Z`I[TY06.$7)J
M@%`P,FI(HWG?;&./Y5:M;`O\T_`]*T846,8C4*/:M(P;(<A+2V6W3@9;N:6Z
MF$2<G%/FE6&/<36=$&NY2\@.P=!6FVB(W"*-KEP[YV]A6@@V+3,J@XQ@57NK
MM8XR:-M6'H-U"X8`1QCYWX%36T`M8,MUZDFJFFH97:XEY/\`#FF:I=ECY2$^
M]3?[3*MT*\DS3W#/U`X45JV$)1!ZD\U3L+7@,PZ]*U$/EH6/84H)MW8Y.RL.
MD8&X51T0?K2D9;<>M5K8[LNWWG.:?.Y^XO4UIT(W&2L)7/95ZU`G^ER8'$*_
MK3)@TDJP(?E'+D=ZFWA6$$``(ZGTK/=E$S2;?D3EOY4*F#RV2><T[RTC7"YW
M=R>]0S3",8!R>G'>K]1#YY3&N%&6/`IUO&V`S'D_I206YR))/F8_I5O&W!/`
MHW%L.AA#=0:M1^1"?FP?:J32'HI.*8=H.2U%@3-0:@4.V!0H_.K%LT]RWS./
M_K5CQ29/`-:5I(P8'-1)+H6G<W+>,(`.]6M@*D5GPOM(RV:NQR;N]8,M#4!!
MP>U3H>:8X^;/K2CBLV4BOJ\FRP?''']:Y")FC<.APP[UTGB&7;98]?\`$5S2
M'<P`K*3U-X+0Z?2=;#J(IS\W0&M66[14W;JX@H5.1P:D%Q+MVECBJC-=2)TW
MT.B;5E\W:.E61?H1G-<9O=9>M6UE.T?-6[2.)RDG9C5J3/%1*:D[5V,X"-ZL
M17IM(,IRYZ57>GP0K.,-3:5M14V^;0BN-5DFC?);=MQUJGI))O9-W_/";_T6
MU:W]@O*N8V`#''-%KH%S;W#OE6_=2KQZE&`_G6+<5L>DE)[F$[*&`P#FI1$N
MS)%:T>@K;6KW%Z?FQ\JBJ'`4CM5QDI"DFMRD\0SP,4+'@@BGMG\*-P%.PB8?
M.NUN16?=P-&=PZ=:MK,*>2LJ$,*&KC(;6998PKG/M2.K1/D57D1K:;<`=N:O
M*ZSQCUQ0@$BF#K@GFEE59$P:KRQE&R.#2Q7`8;6ZT>0$5N2CF-JS;E?L]X1_
M"3D?2M1]N\,#575HP8DD';BLYK0J.Y3W>7=))V)K9;!BR#D5@Y+1CU%;-@_G
MVV.^*F#W13*<Z9!XZU4M_E=UK2D3KD51*A+DX[BIDAIC7J-CTJ9U(J!_O`5F
MRA'Z**<IY-,;[PIZ]Z0`32+_`*P4M-'^L%,";K3MA9:4+FK$2>U6E<ELI8P>
M:8\>>1P:OSVQ(+**JX.WI]:'$$RL5(ZC\:-N:GR.A%-,8;IQ4\I5R/;2[34H
M@D/W>:/(F/1#18+D84FE">M3+:SL<;2/K4JV+]68"FHBN5<*.]21JTAVQKD^
MM7H[&)1DY:K,:*@PHQ6B@R7(IPV!;F5L#T%78H(XQ\BX]ZD44N3TK112(;N.
M4TN0@STI%/K5:YD:1_)3J>I]*H1%(6O9L#_5+U]S5L;8H^,"F(JP)M`H$9D.
M6.!Z4DNH7(IIB5/I6<JO=W`49P*LWSA<(M3V$(BB,C<$BHE[SL4M%<==2I:6
MH51@]!6=9P-<3;V'&<FG7,C7ESL7[HK4M81#&,"E\3LMA[*Y*J!0,"F7#%+8
MJ.K'%.+Y.*BN_F>-1VR:UV1&['VXQC/3'2H[J41*S]6/`%.B;+8QVJE<,)+@
MM_`G`J&[(I*[",M$G',LAZ^GO5^VA$,7S#YCR35.P0S3-)V7@5HRL"OH*4%U
M"78CEDV(3QN/2H(8P\R[OX.3]332_F,9#]Q.E3VBX&6^\QR:J]V+9&@@"IDU
M7=RY.3Q4A?"GV%4FD+OC/%5>PK7)-S,<)4\<.,%OR--M]L8SU/I4K;W/(VBD
M!(I5#@8J>.0C&`*J*`O4YJQ$Z@BDQHUK1]P&X<YK2CQD&L>VF53ST-:,4N['
M:L)(T1H'E:3&!1%RHJ39FLF6CGO%$FVW1?4_X5@VGRMEJV/%QP]NON3_`"K*
MC7*#%8R-X%L8?Z57G<*<#K3XY=BD$U1W-/<''0&H2+;+IBS$&[XJ,%QQ@U9!
M^4+4R1*5!(K:%32S.>M2N[HKJ:D!XJ%:E!KTV>*AC]*FM'1.7;:!UJ%JKR4[
M75B(OEE<NSZU*CDQ$A!T%6=-UZ66<I)SB.1OR0G^E8+J34FG1E;MR/\`GA-_
MZ*:LI05MCTJ<VS4U+5S>0K&H('>LX'(JDDN#AN*L)A@.>M.*25D-MO<4HI'6
MFF%3WS3\`#GFE!4<U0BLUJ>2C4R-VC;#>M7U&`<53N1\^:5AEC"RKM<`@U4>
M&2!B4)*U/&V$S0DP.0W-`")(LJ[7'/8U3GA9'],]ZO&!2<J<&G>09`4?\#0P
M1DLSHWM1-*)+5E-33H`2C=16=*Q4E:R>A2U*RG:^.QJ[IDYBGVYP#VJD>H/I
M3P2DBL..:Q3LS1JYT$RKD'`YK)O?DO$XQD5IQOYUJ".JUEZD/W\3>U:SV)1/
MP5Y`-4)#NG;'05?7[F?:J,0W,QK)HI$7\6:>@RM&WFI(U^44DAMC`IYI@^^*
ML[?E)[570?O!]:;0DRY&M6HE(-,B4%,FK"+T]JVBB&3I&".1D5%-9H3D+^53
M+TZTI/K6UDS/4HFQ1@>!]:SI(VA<J>G:MP'GTJK>0!TR.M9R@K:%1D4(Y"M6
MHY6.,GBJ15E.#4B-C%9IEM&FJEAUI1&<<U6AF.<5<5BPSFM5J0($P.:`>M#&
MFYQVJA#]_>G@9&:B`S3RV%H`9/)L7"=3Q3%41#)Y8]33%)=R_P#".E.'S-2`
MD')YY-+,ZQQ%B:%YJGJ4ORK&#R31*5D"5V0VR?:;@N_*K4FI71&((CCUQ4@Q
M9V>3]XBJ5E"UQ,97Y&<UDW96ZLTWU+FG6WEC>PY-6I9=O2ESM7':J\C@\XZ5
MHERHAZLGC8E@,=:)<>>W^RM,MFWMNJ"YEQYC=V.*+^Z%M14FVH[9YYQ521OX
M1U_K3BV$Q3[./S)=YZ#I[FL=]#38O6D?D1!<\GDG%,N)2[B)3Q_%3IY/*3/<
M]*K!O*C+-S(>GN:U;LK$)7=R3AI!&OW%ZX[FKJ87DU4MDV*`>O<U+(_F,(T/
MU-$=-08LLQ;*(>M.MX3U-/BB5#R,FG22[6QWJDKZL5^B)5*Q<]:0S%SP*KEF
MD<YZ5*I"\4Q$@8?C3TW$@`U$`6//`J9=HQGF@"[;H<C)K5MW5,=,FL:%_0UI
MVPW#&/>LIHTBS5CFXXJU&P-4X(^!5E<+BN=HLY'Q;,6U&-,_=7/\JH6SX`S4
MGB67=K3C^Z`/TK.:?'W:QDKFT'8DOIF,@5#C-6[1!'%N(YK.CS+*">U7GFP@
M05+70M/J7X!O&:L#@8JM:'$0S3VD`8BLNIH0K3\TVBO</FQ&JO(:F8U7D-4C
M/J-W9JSIW_'P_P#UQF_]%M53&0,5<T[_`%[Y_P">,O\`Z+:HD=]/H4C$&S48
M+PGCI5CITI.&[<T&@L3AQFAP>HIJJJGC`J49/TH`16Z5%<C*YQ3FXX'2GXW+
M@C\*`(+<;EP:CN('B.X<BK26X4;E.#4XP5PU)C1G076T_-5T3*XX-0SV:GYE
MX-5=KH:D99O[;SX=ZGYQT]ZYJ4G>0W!%=+#.2`#5/4;!)U+QC$G\ZF<6UH-.
MS,(G-.^\@/>HV4JQ!&".U"M@^U<]^YJ:FGS;2`3P>#2ZHG[M''8U4M_O$?B*
MT9!YUDZGD@9%:[QL1LR&-LPG/I4%F@96J6W^:`_[M1V1"@@TK:C&RI@$T]$^
M44EPV6"CN:G1.*:6HF]"-QB-C[53AYE7ZU=NSMBP.]5;4?O12DM4AQV-6(86
MGYQZT(/EH/'!K9(S'!QZTK'/(.:0`;:4#/':F`@'?BD<]B,4_IQ2%?\`:%4(
M@>W5QG%5VM35\<#GFGX7'2I<4QWL9@B=6S5J,MCI5@JI/04UL`X`%"C85[D3
M-\U.7KTH*C/2G=\T#%&>O2H)GWOY8_&G3S^7&2,Y[5$F0FYOO'K0WT$D/<A4
M"KG(I5X'O48Y&3U-+NQUXI7&/DD5$R35&V_TBY+N?E7FF74QE?:.@HE8PPK$
MGWV/)K*4KLM(+J0W=R(T^Z#6E"BP1*H["H;.W6%,G[QZFIBW-5%=6)OH@=ZI
MS28^4=ZEFDV@D&J8)=\D]:)R!(TK8A+=F/85GSON95_.I[N0Q687'+'%44)9
M^:F<M$AQ74FP7<`=ZOQ!8U50.*KP)M7<1R:=-+L0XZG@41TU$^PLT@DEZY5.
M*AC;[1<\GY$Z5!(Y"A1T[U-`/+C]SS4MW95K(MNVY@B]/6G']U&I'WBP`J.+
MC!/>H[J5FFB5?X3GCUK2]E<GR->X<QH/4BJZ_,=Q[U/.08$=L!AVJHI:1L#@
M5HV0B8-C@D"GK(!VJ(!5[;C3@Q/L/:GJ!/YH&/E-.608SM./K5?R\\L3CW-2
M6L"RW`WG$0/)SU-#V!;ENWG0OC8-WUK3M[H1D$;1VZU2%M#&[$#"GI@TBPV[
MMPN?QJ&DREH;]O>!L=*T$DW8POZUB6ME`5!52..QK1C6.V^8S;>.C-6$DNAJ
MCA?$!D75YMX(SC'TQ5%#NKL;\0:E=C,"R*!C<0<_G69K>@QV%DUW;N0@."K&
MH<6AIW,A)1'QWJ:W4R2[FZ5GVP:1]S5JI(L:YZ5C(VCJ7]XBBR:S9+QBY(Z5
M%)/)<R;%)V5=CLU\L9%19+<N[>Q;HH/6CM7KGSPQJKR"IVJ%ZT1GU&+5VP7=
M,_\`UQE_]%M5#G/%7=,8_:&!'_+&7_T6U9S.^CL9\HD2G)+E1ZU:)5A@@5!)
M;8RR=*5S6P8!Z4\*0*B#;<<5/&ZLOK0"&$''-*C!3S3R,TPI1<+#RXP!3@1V
MJ''/I0"1]:0R<G/%020[LG%.#&GACB@#/9-C<9J19,\'K5ET1LY')JG-"4(*
MF@1GZM:@KYR#D=:R*Z-\O$RMZ5SKC:Q'I6%56=S6#TL20.5D%;$!!QGH1BL(
M<$&MBV?(Q2IL)#8$,;/&>V14,'&1CO5Z9,2JXZ-UJED(TA]ZMJQ(Q?GNCZ+5
M]0*IVB\9]3FKJ<&G!`RG>G.`*9:C]X#[TMVQ:2GVX`;)[5.\A]#13&VDD''%
M$>".O6GL`5QBMNA`V,T\XJ%3AL'.*DWY%-"%)]Z;UI!S1CGCB@!:D4C;UJ'G
M-.!XXI`/'<YII(IN?6DR,GFG<!3]:7H.M1GK2DY%("N^99P#T%22<X%&-N2:
M:IR<YJ1BYP*JW,Q&0#S4L\NQ>*H<N^342ET*BNH^+"@R-^%3649EE,SCCM4<
M<9N)`HX05HH%B7"U,5<;8YB!Q3#PI.:"<FH;B3`VUJW8@AF?)QQ38A\PI@!8
MDT]&V\FLBQNH2[G1>,`4VU7<2W:H)6\V7/K5^W78@J?BE<>R)2PQC.*J32[G
M]ATJ2=P`<=:JBG)]!174<H+L*M`X%0)P:5I.PJ44R<S!!3]/3SKDR-T7FJ).
M6YK1LEV1>F35QU8GHBW*3-+@?<%*Y6-0.E,+B./)_*J^6D?<W3L*VO8S)T9F
M.34@QUJ($!/04Z.-YCW5!V]:+A8FC#7'`X3NWK5U?+C78.@J`'8,*0`.U,+9
MY9@/QJB2RTH)Z\4Y)U0Y!YJDIW'"@_4U(L9SDGI0,U8KRY9`(Q@>H%6H+::=
ME>5B?]XT[2_)FLP@<+(.H/>M!(I0`I7/H16$I6-4A;6TC0<X%<[XQU6*2-+&
M%@0#N?!^M=/+;-);/&KE'88#`]*\NNX98;J6.8DR*Q!S6+9:')+LZ4_<\QQT
M%0(F>M7H$SC`K-Z%QU+=E`$4''-:2\`55@7""K`/%8/4Z$K(<>M--22KM-1G
MI7LH^=:LR-JA:IFJ%ZM&74:IYJ[IW-P_'_+&7_T6U4!5S3B1<M_UQE_]%M43
MV.ZB]"'OTQ2[CCK4/SL2*1HI<9S4FY,Q[%0:3RU[97Z55*7(Y!!Q2>;=+_RS
MS]#1>P%X$\=Z7-9PU!D.'4CZU8BO$<9%*Z8%DX(Z4@44WSE.,4H;K3`!G&#0
M,]*8S<FHUD(.3TH`G)]:9(`PH$J,.>M!*D8!H`JLN:P+M-LY%=(X^:L?58L,
M'%155U<<'J9=:%L^-N:H&K$!X6L(/4T9LX$L)7N.E9%R<3%!W-:-I,"<-5'4
M8S'>%NS<BM9/2Y$=RS;+@#%6F&U2<U5M>5%37)*Q&K6PNI2/SN35B(`#WJ&$
M;C3\X<BH0V6XCV%6%/'-4(I/FJXC96M8NY+$8#=FC@=*4FF=ZH0H/-(/>BC)
MQ4C%SBFG.*6DS@GDT`&::3GK0S#UII-)@.S3]N(\XZU$OS-UI]T_E0G]*:VN
M)D+OEL=A3'D"=*B#;5R3R:KRR9[UDY6+2$FD,C8SQ3HHR[!1^)IL$9D;`K11
M%C7CKWJ(J^I3=M!R(D2@*,4$YII.:."*U1F#OL0FJ#N7;FI;F3<V!T%1(,U,
MF4E8>N`*AFDXP*=*^T8J%5WM6;?0M(EMXQG)%6V?:N*B12OTIDLG:FM$2]61
MRMN?VI`<"F@Y)-(S5%RR16X/UI,TB#Y,TJC)Q0!9M(&F8G'`J](WDJ$'6HK6
M9(8B!UJO)-E\=2:U5HHAZLG+Y.6.:EB5I.@P*;:VY;#/S[5=8!%R>/2KC%O5
MDMV(_+5.6.2*3[0Q.$'Y5&Q+MSTJ>`+W.*J_1"MW!!+(>3Q4HB`Z\U(,#H:.
MIJD)BK@#I2Y!^M-/!H4Y;DTQ%B$LAW*Q%:T%U+E!YC?G62%`4<\U>BNHT"&1
M1QD=:SFKE1-I)GQ_K"?QJI=>'K'4)'ED4K*W5E/6H(KP2G`&*UK(G'S#Z&N=
MJQJF<=J_AN?3098V\V$=3W%4+60`]*]*G7S+>1&&05(Q^%>92CR;J5,8VN1C
M\:RDM#2+LS31\BG;ZSQ<!5J%KQB>.E9<IOS(Z>YCP#50UK&ZD;JL1^L*?X4W
MSC_SR@_[\)_A7HQDTM3R)TU)W1CM4+UN^;_TRM_^_"?X4GF#_GC;_P#@.G^%
M6JOD9?5WW.?'TJ]IH99W';R9?_1;5I;U_P">%M_X#I_A4]K(/-;]U`/W;](4
M'\)]JF52Z.BG#E.?/KBEW86MGS<_\LK?_OPG^%'F_P#3*W_[\)_A2YR[HQ<8
MI#Q[UM^8/^>-O_WX3_"CS?\`IC;_`/?A/\*.<+HP98ED4A@"*SIK4PG='G%=
M?Y@_YXV__?A/\*0NIZP6Q_[=T_PI-W'='(Q3$=:LB4GH:Z/$7_/K:?\`@-'_
M`(4N8_\`GVM?_`>/_"CF871S?F'/)I"XQUKI<Q_\^UK_`.`\?^%)^[_Y]K7_
M`,!H_P#"CF"Z.6>5!SFHFOHT_BKK2D!ZV=F?^W6/_P")IODVW_/E9?\`@+'_
M`/$TKL=T<@^IIBJES?B9=NVN[\JW_P"?*R_\!8__`(FF^1:_\^%C_P"`D?\`
M\34OF8^:)YT6![5+#]W\:]`\BU_Y\;'_`,!(_P#XFE$-L.EC9?\`@+'_`/$U
M*BT/G1PL4VUQ5F\`N+3>/O)R*['R;;_GRLO_``%C_P#B:<%A`P+2T`/;[-'_
M`(52O:S$Y(X:QD!P#5RZ0F$BNL6*W7[ME9#Z6L?_`,33OW9ZVUK_`.`T?^%4
MFTK,EM7.'M1U%+,I!)KM@D(Z6EH/^W:/_P")H*PGK:6A_P"W:/\`PI=`YD</
M&3N]:T(3\M=1L@'2TL__``&C_P#B:</+'2VM?_`:/_"JB[`VF<NS<4W.>E=5
MF/\`Y]K7_P`!X_\`"C]W_P`^UK_X#Q_X4^<5T<H3@BAFY]*ZK]W_`,^UK_X#
M1_X4?NSUMK7_`,!H_P#"CF'='),>0:3/O778B_Y];3_P&C_PHVQ?\^MI_P"`
MT?\`A2Y@NCD#FFDY%=CB+_GUM/\`P&C_`,*,1?\`/K:?^`T?^%%PNCC4.TYJ
MO=W/FOC^$5W6V+_GUM/_``&C_P`*9Y-M_P`^-E_X"Q__`!-)MVL@31Y^[Y[\
M4U$:1L**]"\BU_Y\;'_P%C_^)I5C@7[MG9CZ6L?_`,34<K>Y?.CC(8A"O')/
M6GDFNRQ%_P`^MI_X#1_X4FV'_GUM/_`:/_"K3L1=''8XILS[$Z\FNTQ%_P`^
MMI_X#1_X4A2!NMI9GZVT?_Q-%PNCS[)9B:?]U,UWOE6__/E9?^`L?_Q-!BMS
MULK(_P#;K'_\34V97,CSICO:IHUQ7?""U'2QL?\`P%C_`/B:7RK?_GRLO_`6
M/_XFI46/G1P;O@&J[,37H9BMSULK+_P%C_\`B:/(M?\`GQL?_`2/_P")IM-B
M4TCSH'`II.37H_D6O_/C8_\`@)'_`/$TGD6O_/C8_P#@)'_\34\C'[1'G_10
M*?&-HW'\*[[R;;_GRLO_``%C_P#B:7RK?_GRLO\`P%C_`/B:?*PYT>?,Y]:G
MMD"G>_7M7<^3;?\`/E9?^`L?_P`32^7!_P`^=G_X"Q__`!-/E8<Z.:%PJ(`I
MYQ4#S;B2376[(?\`GTL__`:/_P")HV0?\^=G_P"`L?\`\35MMDW1Q[3*!Q3?
MM:+_`!C/UKL##;'K961_[=8__B:/(M?^?&Q_\!(__B:5V%T<C_:"=C3TOTSD
M&NK\FV_Y\;+_`,!8_P#XFCR;;_GRLO\`P%C_`/B:?-(+Q.=CU$\?/^=6$O58
MY**V>_2ML1VXZ6=G_P"`L?\`\33@(ATM;0?]NT?^%/F%=&3YJ2#`)3Z\T1VS
M,_WPZ]P*V`Z@8$%L/^W=/\*59=IRL-N/I`G^%/F%=$5L@B?##@5O0RHL?'2L
MD7<HZ"(?]L4_PIWVZ?&,QX_ZY+_A6;5RU-(V@ZL,YXQ7&:YIB75Y)-92*6).
MZ,]2?:MH:A<@8#H/^V:_X5%YQ#[_`"K?=_>\A,_RJ>3N/VB.,,)#E),JP."#
M5A;=-HXKJ'*.Y=[>U9CU8VZ$G]*-R?\`/O;?^`Z?X5FZ3+5:*$HHHKH.<***
M*`"IK3_6M_US?_T`U#4UI_K6_P"N;_\`H!I,%N0T444P"BBB@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*
M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH
MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*FM/]:W_7
M-_\`T`U#4UI_K6_ZYO\`^@&DP6Y#1113`****`"BI+>W>YE\N/&<9))P`*)X
M?)8#S(Y,C.4;(I!8CHHHI@%%/BB\TL-Z)M4M\YQGV'O3*0!1113`****`"BB
MI9[=X%C+E3YB!QCT-("*BK,%B\T`F\V)%+;1O;'/Y5#/"]O*T4@PRT7"PRBB
MBF`4444`%%/EADA*B1=I9=PY[4RD`4444P"BBB@`HHHH`****`"BBB@`HHHH
M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`
MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*FM/]:W_7-__0#4-36G^M;_
M`*YO_P"@&DP6Y#1113`****`+%C++#.6BC\W*D,N,Y%7OLL"WUHVPQK+DF-N
MQ'2LI'>-MT;LK>JG!H>1W;<[LS>I.34M#3-:1@TMMO+O*MP!N:/9QGI3WG?;
MJ'3]TP*?*/E))YK(:>5BI:5R5^Z2QX^E)YLGS_O'^?[W)^;Z^M+E'S&V/FD$
MA^^]D2Q]3Q45DDT8MD,K;7`;8L6003W-97GRC_EJ_"[?O'IZ?2A9Y54*LKA0
M<@!C@&CE'S&I-(UK8N8<*5NF4''0<_X5*P$5_?,BCB#=C'&<5BM+(RE6=BI.
MX@GOZTIGE+,QE<EAACN/(]#1RBYC45S(NFS2$&0N06]>>*&C=(=49E(#/P2.
MO)_QK),CE54NQ5>@SP*<T\S`AI9"",$%CS3L',:XA=;>>&9RX2#(41X52!Q@
M]S5/4_\`5V?_`%P6JGGS;=OFOC&W&X]/2FL[N`'9FVC`R<X%"0.1IVS0KI<7
MVB/>AGQUQCCK4X1OMMZTC8F4#8P3<0/4#Z8K%WOLV;FV9SMSQFG&:4N',C[@
M,!MQR*.4.8V+<H]_;'YF?8P9F3;N]*C7=+:/]N7:%F4+D8P,\@>V*HVUZ\-T
ML\FZ4@$?,W]:@>61P`\C,!T!.<4N4?,;(\UKZ:"9,6@4\;<*!C@BJ]]</%;6
MJ)@;H4)..>,$5GF:5DV&1RG]TL<4UG=P`[,VT8&3G`I\HG(T=7DE=;?))C,2
MMGMNYK-IQDD9`A=B@Z*3P*;32L)N["BBBF(****`"BBB@`HHHH`****`"BBB
M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`J:T_UK?]<W_P#0#4-36G^M
M;_KF_P#Z`:3!;D-%%%,`HHHH``"3@#)-3W5K]F6/+ABX.0!T(."*=9>6I>1I
M$211^[WYQGUX':I+N+%I:XE1SA@-N?FRQZ<5-]1VT*T*1-GS92F.F%W9J4V9
M\Y4$@*%/,WX_A]<5'""CDO`9`."IR,'\*ON"UPZ@$-);?+'_`'3UV_I^M#8T
MBC-`J1K+%)YD9.W.,$'TQ3;>'SY0F]4'=F/2IBK+IP5@0SS948Y.!_\`7J"(
M%;A`000X!!^M,7462(I</"""5<KD\9YQ3KJW%NR`2"3>F[(Z=2/Z47O_`!^S
M_P#71OYT^]^Y:_\`7$?S-`%:BBBF(****`"BBB@`HHHH`****`"BBB@`HHHH
M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`
MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B
MBB@`J:T_UK?]<W_]`-0U-:?ZUO\`KF__`*`:3!;D-%%%,`HHHH`*7>_R_,WR
M_=YZ?2DHI`/6>9"Q6612QR2&(S3=S;MVX[LYSGFDHH`<TLCN'=V9AT).32%F
M+;BQ+$YSGG-)10`,2S%F)))R2>]*S,V-S$X&!D]!244`%%%%,`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*
M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH
MHH`****`"BBB@`HHHH`****`"IK3_6M_US?_`-`-0U-:?ZUO^N;_`/H!I,%N
M0T444P"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`
MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B
MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`***
M*`"BBB@`HHHH`*FM/]:W_7-__0#4-36G^M;_`*YO_P"@&DP6Y#1113`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*
M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH
MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB
M@`J:T_UK?]<W_P#0#4-36G^M;_KF_P#Z`:3!;D-%%%,`HHHH`****`"BBB@`
MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B
MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`***
M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"IK3_6M_US
M?_T`U#4UI_K6_P"N;_\`H!I,%N0T444P"BBB@`HHHH`****`"BBB@`HHHH`*
M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH
MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB
M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*FM/]:W_7-_\`T`U#4UI_
MK6_ZYO\`^@&DP6Y#1113`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B
MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`***
M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBE=&C=D8
M893@CWI`)1113`****`"BBB@`HHHH`****`"BBB@`J:T_P!:W_7-_P#T`U#4
MUI_K6_ZYO_Z`:3!;D-%%%,`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`
M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H
MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`+%ND$D<A=)-T:;B5<`'
MD#T]Z:8&=D$4;#>NX;F!XR><_A20RB-9@0?G3:,>N0?Z5*+F,JJ,&V^3Y;$=
M1\V<C]*D>@C6;")"O+DMNPP*@#'.>G>HC;RB,2;?E..XSSTXJP+F%;<6V':+
M<220`>V".?K0]XK1@*2#M52/+7D#'?KVZ4:CLBM-!)`^R4!6],@U;6!;G5Y8
MG)"F1_N]>]5;B02W$L@SAV)&?3-6(KJ.+5'N#N9"[$;>I!S0[B5KBSV]M"(9
M&,VR0'Y3@,"/Z4Z>RA%XMK`9/,)&6;&,8S45[<QSK$J!SL!!>0_,U.EO@=2%
MU$IP,<-],&C4>@Y+:UG=H;>27S0#M+`;6Q5&KR7-K`[36\<OFD':&(VKFJ-"
M$PHHHJA!1110`4444`%%%%`!4UI_K6_ZYO\`^@&H:FM/]:W_`%S?_P!`-)@M
MR&BBBF`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`
M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4
M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11
M10`4444`%%%%`!4UI_K6_P"N;_\`H!J&IK3_`%K?]<W_`/0#28+<AHHHI@%%
M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444
M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110
M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!
M1110`5-:?ZUO^N;_`/H!HHI,%N0T444P"BBB@`HHHH`****`"BBB@`HHHH`*
M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH
MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB
8@`HHHH`****`"BBB@`HHHH`****`/__9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
