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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001065407-08-000448.txt : 20081014
<SEC-HEADER>0001065407-08-000448.hdr.sgml : 20081013
<ACCEPTANCE-DATETIME>20080811181921
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001065407-08-000448
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20080811

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HOME BANCORP, INC.
		CENTRAL INDEX KEY:			0001436425
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			LA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		503 KALISTE SALOOM ROAD
		CITY:			LAFAYETTE
		STATE:			LA
		ZIP:			70598
		BUSINESS PHONE:		(337) 237-1960

	MAIL ADDRESS:	
		STREET 1:		503 KALISTE SALOOM ROAD
		CITY:			LAFAYETTE
		STATE:			LA
		ZIP:			70598
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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                <td width="33%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td width="33%">
                  <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;LAW
      OFFICES&#160;</font></div>
                </td>
                <td width="33%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">CORRESP.</font></div>
                </td>
              </tr>
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        </div>
        <div>&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman; FONT-VARIANT: small-caps">Elias,
Matz, Tiernan &amp; Herrick L.L.P.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">11TH
FLOOR</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">734 15TH
STREET, N.W.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">WASHINGTON,
D.C. 20005</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">_______</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">TELEPHONE:&#160;&#160;(202)
347-0300</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">FACSIMILE:&#160;&#160;&#160;(202)
347-2172</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">WWW.EMTH.COM</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">August
11, 2008</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">VIA
FAX AND EDGAR</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Christian
Windsor</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">U.S.
Securities and Exchange Commission</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Division
of Corporation Finance</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Mail Stop
4561</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">100 F
Street, N.E.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Washington,
D.C. 20549</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Re:&#160;&#160;&#160;&#160;&#160;&#160;&#160;Home
Bancorp, Inc.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Registration
Statement on Form S-1</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">File No.
333-151492</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Dear Mr.
Windsor:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="FONT-SIZE: 12pt">Pursuant
to my recent conversation with you and Kate McHale, this is to confirm on behalf
of Home Bancorp, Inc. (the &#8220;Company&#8221;) that any loans which are outstanding from
Home Bank to any director, executive officer or other related person, as such
term is defined in Item 404 of Regulation S-K:</font></font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 108pt">
                <div style="TEXT-INDENT: 72pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(i)&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">were
      made in the ordinary course of
business;</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 108pt">
                <div style="TEXT-INDENT: 72pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(ii)&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">were
      made on substantially the same terms, including interest rates and
      collateral, as those prevailing at the time for comparable loans with
      persons not related to the Bank;
and</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div>
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            <tr valign="top">
              <td align="right" style="WIDTH: 108pt">
                <div style="TEXT-INDENT: 72pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(iii)&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">did
      not involve more than the normal risk of collectibility or present other
      unfavorable features.</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Attached
is a proposed change page to the prospectus clarifying the above which will be
included in the Companys&#8217; prospectus filed pursuant to Rule 424(b).</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Christian
Windsor</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="justify"><font size="3">August 11, 2008</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="justify"><font size="3">Page 2</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">We
believe that the enclosed responds sufficiently to the staff&#8217;s
comment.&#160;&#160;Please do not hesitate to call me at the above-listed number
if there are any further questions or if I can be of assistance in any
way.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">As
always, the staff&#8217;s cooperation is greatly appreciated.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 261pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 261pt; MARGIN-RIGHT: 0pt" align="justify">
        <div>
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              <tr>
                <td valign="top" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td colspan="2" valign="top" width="48%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Very
      truly yours,</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="43%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td valign="top" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="43%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td valign="top" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="5%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
                <td valign="top" width="43%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">/s/Hugh
      T. Wilkinson</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="43%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Hugh
      T. Wilkinson</font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="32%">
                  <div>&#160;</div>
                  <div>&#160;</div>
                  <div>&#160;</div>
                  <div>&#160;</div>
                </td>
                <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="43%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr>
              <tr>
                <td valign="top" width="32%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">cc:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Kate
      McHale</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">John
      W. Bordelon</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"><font id="TAB1" style="FONT-SIZE: 12pt; MARGIN-LEFT: 36pt"></font><font style="FONT-SIZE: 12pt">Raymond A. Tiernan, Esq.</font></font></div>
                </td>
                <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="43%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                </td>
              </tr>
          </table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
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        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
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        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
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    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">the
conversion, no individual officer or employee may receive more than 25% of the
shares granted under the plan and non-employee directors may not receive more
than 5% individually, or 30% in the aggregate of the shares granted under the
stock recognition and retention plan.&#160;&#160;Applicable Office of Thrift
Supervision regulations provide that, in the event such plan is implemented
within one year after the conversion, shares granted under the plan generally
are required to vest over at least a five year period at no faster than 20% per
year.&#160;&#160;In addition, applicable regulations of the Office of Thrift
Supervision require that if the stock recognition and retention is adopted
within twelve months after the conversion, it must be approved by a majority of
the total votes eligible to be cast by shareholders.&#160;&#160;If the stock
recognition and retention plan is implemented more than one year after the
conversion, the plan must be approved by a majority of the shares of the Company
present and voting at the meeting of shareholders.&#160;&#160;The Company
intends that the stock recognition and retention plan will comply with all then
applicable regulation of the Office of Thrift Supervision.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">The stock
recognition and retention plan will be administered by a committee of the
Company&#8217;s board of directors, which will have the responsibility to invest all
funds contributed to the trust created for the stock recognition and retention
plan.&#160;&#160;We will contribute sufficient funds to the trust so that it can
purchase, following the receipt of shareholder approval, a number of shares
equal to an aggregate of 4.0% of the common stock issued in the conversion,
which would be 229,500 shares or 357,075 shares based on the minimum and 15%
above the maximum of the offering range, respectively.&#160;&#160;Shares of
common stock granted pursuant to the stock recognition and retention plan
generally will be in the form of restricted stock vesting as described
above.&#160;&#160;For accounting purposes, compensation expense in the amount of
the fair market value of the common stock at the date of the grant to the
recipient will be recognized pro rata over the period during which the shares
are payable.&#160;&#160;A recipient will be entitled to all voting and other
shareholder rights, except that the shares, while restricted, may not be sold,
pledged or otherwise disposed of and are required to be held in the
trust.&#160;&#160;Under the terms of the stock recognition and retention plan,
recipients of awards will be entitled to instruct the trustees of the stock
recognition and retention plan as to how the underlying shares should be voted,
and the trustees will be entitled to vote all unallocated shares in their
discretion.&#160;&#160;If a recipient&#8217;s employment is terminated as a result of
death or disability, all restrictions will expire and all allocated shares will
become unrestricted.&#160;&#160;We will be able to terminate the stock
recognition and retention plan at any time, and if we do so, any shares not
allocated will revert to the Company.&#160;&#160;Recipients of grants under the
stock recognition and retention plan will not be required to make any payment at
the time of grant or when the underlying shares of common stock become vested,
other than for certain recipients, payment of withholding taxes.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: times new roman"><a name="S1toc70219_19">Transactions With Related Persons</a></font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 11pt"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-STYLE: italic">Loans and
Extensions of Credit.</font>&#160;&#160;The Bank offers <font style="DISPLAY: inline; FONT-SIZE: 11pt; TEXT-DECORATION: line-through">mortgage
</font>loans to its directors, officers and employees as well as members of
their immediate families <font style="DISPLAY: inline; FONT-SIZE: 11pt; TEXT-DECORATION: line-through">for the
financing of their primary residences and certain other loans.&#160;&#160;These
loans are</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt">and others who are
considered &#8220;related persons&#8221; under Item 404 of Regulation S-K of the
SEC.&#160;&#160;Any loans by the Bank to related persons were</font> made in the
ordinary course of business on substantially the same terms, including interest
rates and collateral, as those prevailing at the time for comparable
transactions with <font style="DISPLAY: inline; FONT-SIZE: 11pt; TEXT-DECORATION: line-through">non-affiliated
</font>persons<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt">
not related to the Bank</font>.&#160;&#160;These loans <font style="DISPLAY: inline; FONT-SIZE: 11pt; TEXT-DECORATION: line-through">neither</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt">did not</font>
involve more than the normal risk of collectibility <font style="DISPLAY: inline; FONT-SIZE: 11pt; TEXT-DECORATION: line-through">nor</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt">or</font> present
other unfavorable features<font style="DISPLAY: inline; FONT-SIZE: 11pt; TEXT-DECORATION: line-through"> to the
Bank</font>.</font></font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">Section
22(h) of the Federal Reserve Act generally provides that any credit extended by
a savings institution, such as the Bank, to its executive officers, directors
and, to the extent otherwise permitted, principal stockholder(s), or any related
interest of the foregoing, must be on substantially the same terms, including
interest rates and collateral, as those prevailing at the time for comparable
transactions by the savings institution with non-affiliated parties; unless the
loans are made pursuant to a benefit or compensation program that (i) is widely
available to employees of the institution and (ii) does not give preference to
any director, executive officer or principal stockholder, or certain affiliated
interests of either, over other employees of the savings institution, and must
not involve more than the normal risk of repayment or present other unfavorable
features.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font size="+0"><font style="DISPLAY: inline; FONT-SIZE: 11pt">The aggregate amount of
loans by the Bank to its executive officers and directors was approximately
$830,000 at March 31, 2008, or approximately 1.62% of total equity at such
date.&#160;&#160;These loans were performing according to their original terms
at March 31, 2008.&#160;&#160;None of the Bank&#8217;s loans to any of its directors,
executive officers or any of their immediate family members were non-accrual,
past due, restructured or deemed potential problem loans at December 31, 2007 or
March 31, 2008.</font><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">&#160;</font></font></font></div>
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