<SEC-DOCUMENT>0000930413-19-002278.txt : 20190808
<SEC-HEADER>0000930413-19-002278.hdr.sgml : 20190808
<ACCEPTANCE-DATETIME>20190808160520
ACCESSION NUMBER:		0000930413-19-002278
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20190808
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190808
DATE AS OF CHANGE:		20190808

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			StoneCastle Financial Corp.
		CENTRAL INDEX KEY:			0001578987
		IRS NUMBER:				900934878
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-22853
		FILM NUMBER:		191009475

	BUSINESS ADDRESS:	
		STREET 1:		152 WEST 57TH STREET 35TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-354-6500

	MAIL ADDRESS:	
		STREET 1:		152 WEST 57TH STREET 35TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
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<TYPE>8-K
<SEQUENCE>1
<FILENAME>c94072_8k.htm
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<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in; border-bottom: Black 1px solid">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 OR 15(d) of </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>The Securities Exchange Act of 1934</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported)<B>
<U>August 8, 2019</U></B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>StoneCastle Financial Corp. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact Name of Registrant as Specified in Charter)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-size: 10pt">
    <TD STYLE="width: 35%; text-align: center; padding: 0; text-indent: 0; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 30%; text-align: center; padding: 0; text-indent: 0; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>333-189307</B></FONT></TD>
    <TD STYLE="width: 35%; text-align: center; padding: 0; text-indent: 0; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>90-0934878</B></FONT></TD>
    </TR>
<TR STYLE="vertical-align: top; font-size: 10pt">
    <TD STYLE="text-align: center; padding: 0; text-indent: 0; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(State
    or other jurisdiction</FONT></TD>
    <TD STYLE="text-align: center; padding: 0; text-indent: 0; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Commission</FONT></TD>
    <TD STYLE="text-align: center; padding: 0; text-indent: 0; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(IRS
    Employer</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top; font-size: 10pt">
    <TD STYLE="text-align: center; padding: 0; text-indent: 0; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">of
    incorporation)</FONT></TD>
    <TD STYLE="text-align: center; padding: 0; text-indent: 0; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">File
    Number)</FONT></TD>
    <TD STYLE="text-align: center; padding: 0; text-indent: 0; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Identification
    No.)</FONT></TD>
    </TR>
</TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-size: 10pt">
    <TD STYLE="width: 56%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>152 West 57<SUP>th</SUP>
    Street, 35<SUP>th</SUP> floor, New York, NY</B></FONT></TD>
    <TD STYLE="width: 15%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>10019</B></FONT></TD>
    <TD STYLE="width: 17%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font-size: 10pt">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Zip Code)</FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Registrant&rsquo;s telephone number, including
area code (212) 354-6500</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Former name or former address, if changed since
last report.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">under any of the following provisions (see General Instruction A.2.
below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="width: 97%">Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)</TD>
</TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD>Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)</TD>
</TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD>Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD>Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered pursuant to Section 12(b) of the Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 38%; border: Black 1px solid; font-size: 10pt; text-align: center; padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="color: black">Title of each class</FONT></TD>
    <TD STYLE="width: 24%; border-top: Black 1px solid; border-right: Black 1px solid; border-bottom: Black 1px solid; font-size: 10pt; text-align: center; padding-top: 2pt; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="color: black">Trading<BR>
Symbol(s)</FONT></TD>
    <TD STYLE="width: 38%; border-top: Black 1px solid; border-right: Black 1px solid; border-bottom: Black 1px solid; font-size: 10pt; text-align: center; padding-top: 2pt; padding-bottom: 2pt; white-space: nowrap; vertical-align: bottom"><FONT STYLE="color: black">Name of each exchange on which registered</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1px solid; border-bottom: Black 1px solid; border-left: Black 1px solid; font-size: 10pt; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: black"></FONT>Common</TD>
    <TD STYLE="border-right: Black 1px solid; border-bottom: Black 1px solid; font-size: 10pt; text-align: center; padding-top: 2pt; padding-bottom: 2pt">BANX</TD>
    <TD STYLE="border-right: Black 1px solid; border-bottom: Black 1px solid; font-size: 10pt; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="color: black">NASDAQ</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &sect;230.405) or Rule 12b-2 of the Securities Exchange Act
of 1934 (17 CFR &sect;240.12b-2).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Emerging growth company <FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act. <FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Item 2.02 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Results
of Operations and Financial Condition</U></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">On <B><U>August 8, 2019</U></B> the registrant
issued a press release announcing its financial results for the second quarter ended</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">June 30, 2019. The text of the press release
is included as Exhibit 99.1 to this Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">The information disclosed under this item 2.02
is being furnished and shall not be deemed &ldquo;filed&rdquo; for purposes of Section 18 of the Securities Exchange Act of 1934
and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, except as expressly set
forth by specific reference in such filing.</P>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"><B><U>Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
Statements and Exhibits.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(d) Exhibits:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Exhibit Number</U></FONT></TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 70%; font-size: 10pt; border-bottom: Black 1px solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Description</FONT></TD>
    <TD STYLE="width: 10%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="c94072_ex99-1.htm">Press Release, dated <B><U>August 8, 2019</U></B></A></FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 35%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>STONECASTLE FINANCIAL CORP</B>.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Date: <B><U>August 8, 2019</U></B></FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By: /s/ <U>Patrick J. Farrell</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: Patrick J. Farrell</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title: Chief Financial Officer</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>Exhibit Index</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Exhibit Number</U></FONT></TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 70%; text-align: center; border-bottom: Black 1px solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Description</FONT></TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Press Release, Dated <B><U>August 8, 2019</U></B></FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD></TR>
</TABLE>


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<TYPE>EX-99.1
<SEQUENCE>2
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>Section 2: EX-99.1 (EX-99.1)</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0">Exhibit 99.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0">&nbsp;</P>

<P STYLE="font: 12pt Cambria, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><IMG SRC="x1_c94072a001.jpg" ALT=""></FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>StoneCastle Financial
Corp. Reports Second Quarter 2019 Results </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">NEW YORK, August 8,
2019 &ndash; StoneCastle Financial Corp. (Nasdaq: BANX) (&ldquo;StoneCastle Financial&rdquo; or the &ldquo;Company&rdquo;), an
investment company registered with the Securities and Exchange Commission (&ldquo;SEC&rdquo;), today announced results for the
second fiscal quarter ended June 30, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>Second Quarter 2019
Investment Highlights:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top; font-size: 10pt">
<TD STYLE="width: 18pt; font-size: 10pt"></TD><TD STYLE="width: 18pt; text-align: left; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Invested
                                         $4.5 million in two investments</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-size: 10pt">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: left; vertical-align: top; font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: justify; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font-size: 10pt">
<TD STYLE="width: 18pt; font-size: 10pt"></TD><TD STYLE="width: 18pt; text-align: left; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Received
                                         full call proceeds of $12.9 million from three investments</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify; text-indent: -18pt; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>Investment Activity
in the Second Quarter 2019 Included:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top; font-size: 10pt">
<TD STYLE="width: 18pt; font-size: 10pt"></TD><TD STYLE="width: 18pt; text-align: left; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Invested
                                         $4.4 million in Fidelity Federal Bancorp, Fixed Rate Cumulative Perpetual Preferred Stock
                                         Series A, 9%</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-size: 10pt">
<TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: left; vertical-align: top; font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: justify; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font-size: 10pt">
<TD STYLE="width: 18pt; font-size: 10pt"></TD><TD STYLE="width: 18pt; text-align: left; vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Invested
                                         $51,000 in Fidelity Federal Bancorp, Fixed Rate Cumulative Perpetual Preferred Stock,
                                         Series B, 9%</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify; text-indent: -18pt; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">A complete listing of investments as of
the end of the quarter can be found on the Company&rsquo;s website at www.stonecastle-financial.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The estimated annualized
yield generated by the invested portfolio as of June 30, 2019 (excluding cash and cash equivalents) was approximately 9.16%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>Second Quarter 2019
Financial Results</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Net investment income
was $2,466,244 or $0.38 per share, comprised of $4,043,437 gross income and $1,577,193 of expenses. Net Assets at quarter end were
$142,937,337. The Company&rsquo;s Net Asset Value was $21.80 per share. The unrealized appreciation of the portfolio increased
by $1,235,125, or $0.19.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">In the second quarter,
the Company paid a cash distribution of $0.38 per share. The distribution was paid on June 26, 2019 to shareholders of record at
the close of business on June 20, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company had $24
million outstanding on its $62.0 million credit facility at the quarter end, which represents approximately 14% of total assets.
According to regulated investment company rules, the Company may borrow only up to 33.3% of its total assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>Portfolio and Investment
Summary </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">As of the close of
business on June 30, 2019, the Company had total assets of $168,153,822 consisting of total investments of $165,115,844, cash of
$159,250, and other assets of $2,878,728. Other assets include interest and dividends receivable of $2,226,763 and prepaid assets
of $651,965.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">During the quarter,
the Company invested a total of $4,490,000 in Fidelity Federal Bancorp Fixed Rate Cumulative Perpetual Preferred Series A and B,
9%. The Company received full call proceeds of $12,899,000 from three investments.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><B>Quarterly Conference Call</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">StoneCastle Financial
will host a webcast and conference call on August 8, 2019 at 5:00 pm Eastern time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The conference call
can be accessed by dialing 1-877-407-9039 for domestic callers or 1-201-689-8470 for international callers. Participants may also
access the call via live webcast by visiting StoneCastle Financial&rsquo;s investor relations website at <FONT STYLE="color: blue"><U>www.stonecastle-financial.com</U></FONT>.
To listen to a live broadcast, go to the website at least 15 minutes prior to the scheduled start time in order to register, download
and install any necessary audio software.&nbsp;A replay will be available shortly after the call and be available through midnight
(Eastern Time) on August 22, 2019. The replay can be accessed by dialing 1-844-512-2921 for domestic callers or 1-412-317-6671
for international callers. The passcode for the replay is 13691505.&nbsp;The archive of the webcast will be available on the Company&rsquo;s
website for a limited time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><B>About StoneCastle Financial Corp.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">StoneCastle Financial
is an SEC registered non-diversified, closed-end management investment company listed on the NASDAQ Global Select Market under
the symbol &ldquo;BANX.&rdquo; StoneCastle Financial intends to make long-term, passive, non-control investments in community banks
seeking capital for organic growth, acquisitions, share repurchases and other refinancing activities. Its investment objective
is to provide current income and, to a lesser extent, capital appreciation. StoneCastle Financial is managed by StoneCastle Asset
Management LLC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><B>Disclaimer and Risk Factors:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">There is no assurance
that StoneCastle Financial will achieve its investment objective. StoneCastle Financial is subject to numerous risks, including
investment and market risks, management risk, income and interest rate risks, banking industry risks, preferred stock risk, convertible
securities risk, debt securities risk, liquidity risk, valuation risk, leverage risk, non-diversification risk, credit and counterparty
risks, market at a discount from net asset value risk and market disruption risk. Shares of closed-end investment companies may
trade above (a premium) or below (a discount) their net asset value. Shares of StoneCastle Financial may not be appropriate for
all investors. Investors should review and consider carefully StoneCastle Financial&rsquo;s investment objective, risks, charges and
expenses. Past performance does not guarantee future results. Learn more at www.stonecastle-financial.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">The Annual Report, Semi-Annual Report and
other regulatory filings of the Company with the SEC are accessible on the SEC&rsquo;s website at <FONT STYLE="color: blue"><B><U>www.sec.gov</U></B></FONT><B>
</B>and on the Company&rsquo;s website at <FONT STYLE="color: blue"><B><U>www.stonecastle-financial.com</U></B></FONT>,<B>&nbsp;</B>and
may discuss these or other factors that affect the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">CONTACT: Investor Contact:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 18pt; background-color: white">Julie Muraco</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 18pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 18pt; background-color: white">347-887-0324</P>


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<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: transparent">STONECASTLE
FINANCIAL CORP.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: transparent">Statement
of Assets and Liabilities (unaudited)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 5pt Cambria, Times, Serif; padding-left: 10pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1px solid">June 30, 2019</TD><TD STYLE="padding-bottom: 1px; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1px solid">March 31, 2019</TD><TD STYLE="padding-bottom: 1px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt">Assets</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 64%; text-align: left; padding-left: 10pt">Investments in securities, at fair value (cost: $164,361,636 and $173,545,428 respectively)</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: right">$</TD><TD STYLE="width: 12%; text-align: right">165,115,844</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: right">$</TD><TD STYLE="width: 12%; text-align: right">173,064,511</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-left: 10pt">Cash</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">159,250</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">5,566,326</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt">Interest and dividends receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">2,226,763</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">1,936,971</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-bottom: 1px; padding-left: 10pt">Prepaid assets</TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">651,965</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">749,793</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px; padding-left: 10pt">Total assets</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">168,153,822</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">181,317,601</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 10pt">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt">Liabilities</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt">Loan payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">24,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">38,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-left: 10pt">Investment advisory fee payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">733,082</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">783,180</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt">Loan interest payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">3,672</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">238,916</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-left: 10pt">Directors fee payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">5,876</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">1,534</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1px; padding-left: 10pt">Accrued expenses payable</TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">473,855</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">505,662</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px; padding-left: 10pt">Total liabilities</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">25,216,485</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">39,529,292</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt; padding-bottom: 3px">Net Assets </TD><TD STYLE="font-weight: bold; padding-bottom: 3px">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 3px double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 3px double">142,937,337</TD><TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 3px double">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 3px">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 3px double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 3px double">141,788,309</TD><TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 3px double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 10pt">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt">Net Assets consist of:</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt">Common stock at par ($0.001 per share) </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">6,557</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">6,555</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-left: 10pt">Paid-in-Capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">143,826,543</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">143,778,146</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1px; padding-left: 10pt">Total distributable earnings / (loss)</TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">(895,763</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">)</TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">(1,996,392</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 3px; padding-left: 10pt">Net Assets </TD><TD STYLE="font-weight: bold; padding-bottom: 3px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3px double; font-weight: bold; text-align: right">$</TD><TD STYLE="border-bottom: Black 3px double; font-weight: bold; text-align: right">142,937,337</TD><TD STYLE="border-bottom: Black 3px double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 3px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3px double; font-weight: bold; text-align: right">$</TD><TD STYLE="border-bottom: Black 3px double; font-weight: bold; text-align: right">141,788,309</TD><TD STYLE="border-bottom: Black 3px double; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 10pt">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt">Net Asset Value Per Share:</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px; padding-left: 0pt">Common Stock Shares Outstanding</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">6,557,261</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">6,554,983</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px; padding-left: 0pt">Net asset value per common share </TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">$</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">21.80</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">$</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">21.63</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px; padding-left: 0pt">Market price per share </TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">$</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">21.81</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">$</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">21.43</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px; padding-left: 0pt">Market price premium / (discount) to net asset value per share</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">0.05</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">%</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">-0.92</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">%</TD></TR>
</TABLE>


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<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: transparent">STONECASTLE
FINANCIAL CORP.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: transparent">Statement
of Operations (unaudited)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: Transparent">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 10pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1px solid">For The Three<BR> Months Ended<BR> June 30, 2019</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1px solid">For The Three<BR> Months Ended<BR> March 31, 2019</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt">Investment Income</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 64%; text-align: left; padding-left: 10pt">Interest</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: right">$</TD><TD STYLE="width: 12%; text-align: right">2,826,558</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: right">$</TD><TD STYLE="width: 12%; text-align: right">3,056,839</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-left: 10pt">Dividends</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">1,091,134</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">1,056,299</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt">Origination fee income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">41,127</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">13,527</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-bottom: 1px; padding-left: 10pt">Other Income (service fees and due diligence fees)</TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">84,618</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">108,885</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px; padding-left: 10pt">Total Investment Income</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">4,043,437</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">4,235,550</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 10pt">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt">Expenses</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt">Investment advisory fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">733,081</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">783,180</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-left: 10pt">Interest expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">361,786</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">527,794</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt">Professional fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">88,773</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">113,772</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-left: 10pt">Transfer agent, custodian fees and administrator fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">72,364</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">51,031</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt">Directors&rsquo; fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">58,835</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">56,959</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-left: 10pt">Bank administration fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">40,017</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">36,251</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt">ABA marketing and licensing fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">37,434</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">36,875</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-left: 10pt">Investor relations fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">30,865</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">30,526</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt">Delaware franchise tax</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">22,694</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">21,420</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-left: 10pt">Insurance expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">17,951</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">17,753</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt">Valuation fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">14,988</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">16,707</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-left: 10pt">Printing</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">14,511</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">8,648</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1px; padding-left: 10pt">Miscellaneous fees (proxy, rating agency, etc.)</TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">83,894</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">52,804</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px; padding-left: 10pt">Total expenses</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">1,577,193</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">1,753,720</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px; padding-left: 10pt">Net Investment Income</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">$</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">2,466,244</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">$</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">2,481,830</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 10pt">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt">Realized and Unrealized Gain / (Loss) on Investments</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 5pt Cambria, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt">Net realized loss on investments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">(109,845</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">(91,503</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-bottom: 1px; padding-left: 10pt">Net change in unrealized appreciation on investments</TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">1,235,125</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">1,414,753</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1px; padding-left: 10pt">Net realized and unrealized gain / (loss) on investments</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">1,125,280</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">1,323,250</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px; padding-left: 10pt">Net Increase in Net Assets Resulting From Operations</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">$</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">3,591,524</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">$</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">3,805,080</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><PAGE></PAGE></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: transparent">STONECASTLE
FINANCIAL CORP.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: transparent">Financial
Highlights (unaudited)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 5pt Cambria, Times, Serif">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1px solid">For The Three Months<BR> Ended June 30, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px"><font style="border-bottom: Black 1px solid">Per Share Operating Performance</font></TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1px; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 78%; font-weight: bold; text-align: left">Net Asset Value, beginning of period</TD><TD STYLE="width: 3%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 2%; font-weight: bold; text-align: right">$</TD><TD STYLE="width: 16%; font-weight: bold; text-align: right">21.63</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left">Net investment income<SUP>(1)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">0.38</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1px">Net realized and unrealized gain on investments<SUP>(1)</SUP></TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">$</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">0.17</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px">Total from investment operations</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1px solid">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1px solid">0.55</TD><TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1px solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Less distributions to shareholders</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-bottom: 1px">From net investment income</TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">$</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">(0.38</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px">Total distributions</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1px solid">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1px solid">(0.38</TD><TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1px solid">)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px">Net asset value, end of period</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1px solid">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1px solid">21.80</TD><TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1px solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px">Per share market value, end of period</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1px solid">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1px solid">21.81</TD><TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1px solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px"><font style="border-bottom: Black 1px solid"><B>Total Investment Return <SUP>(2) </SUP></B></font></TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1px; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px">Based on market value</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: right">3.59</TD><TD STYLE="border-bottom: Black 1px solid; font-weight: bold; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px">Based on net asset value</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1px solid">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1px solid">2.59</TD><TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1px solid">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px"><font style="border-bottom: Black 1px solid">Ratios and Supplemental Data</font></TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1px; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px">Net assets, end of period (in millions)</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1px solid">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1px solid">142.9</TD><TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1px solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Ratios (as a percentage to average net assets):</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-bottom: 1px; padding-left: 10pt">Expenses before waivers<SUP>(3)(4)*</SUP></TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">4.44</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1px; padding-left: 10pt">Expenses after waivers<SUP>(5)*</SUP></TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">4.44</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-bottom: 1px; padding-left: 10pt">Net investment income<SUP>(6)*</SUP></TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">6.95</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1px">Portfolio turnover rate <SUP>**</SUP></TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="text-align: right; border-bottom: Black 1px solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1px solid">3</TD><TD STYLE="text-align: left; border-bottom: Black 1px solid">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px"><font style="border-bottom: Black 1px solid">Revolving Credit Agreement</font></TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1px; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1px">Total revolving credit agreement outstanding (000&rsquo;s)</TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">$</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">24,000</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-bottom: 1px">Asset coverage per $1,000 for revolving credit agreement<SUP>(7)</SUP></TD><TD STYLE="padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1px solid; text-align: right">6,956</TD><TD STYLE="border-bottom: Black 1px solid; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="left" style="margin-left: 18pt"><DIV STYLE="font-size: 1pt; border-top: Black 1px solid; width: 45%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="width: 18pt; text-indent: 0pt; font-style: italic">(1)</TD>
    <TD STYLE="text-indent: 0pt; font-style: italic">Based on the average shares outstanding during quarter.</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-indent: 0pt; font-style: italic">(2)</TD>
    <TD STYLE="text-indent: 0pt; font-style: italic">Reflects reinvestment of distributions at the price obtained under the Dividend
    Reinvestment Plan. Total return does not include sales load and offering expenses and are not annualized.</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-indent: 0pt; font-style: italic">(3)</TD>
    <TD STYLE="text-indent: 0pt; font-style: italic">Excluding interest expense, the ratio would have been 3.42%.</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-indent: 0pt; font-style: italic">(4)</TD>
    <TD STYLE="text-indent: 0pt; font-style: italic">Ratio of expenses before waivers to average managed assets equals 3.62%.</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-indent: 0pt; font-style: italic">(5)</TD>
    <TD STYLE="text-indent: 0pt; font-style: italic">Ratio of expenses after waivers to average managed assets equals 3.62%.</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-indent: 0pt; font-style: italic">(6)</TD>
    <TD STYLE="text-indent: 0pt; font-style: italic">Ratio of net investment income to average managed assets equals 5.66%.</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-indent: 0pt; font-style: italic">(7)</TD>
    <TD STYLE="text-indent: 0pt; font-style: italic">Calculated by subtracting the Company&rsquo;s total liabilities (excluding the
    loan) from the Company&rsquo;s total assets and dividing the amount by the loan outstanding in 000&rsquo;s.</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-indent: 0pt; font-style: italic">*</TD>
    <TD STYLE="text-indent: 0pt; font-style: italic">Annualized</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-indent: 0pt; font-style: italic">**</TD>
    <TD STYLE="text-indent: 0pt; font-style: italic">Not-annualized</TD></TR>
</TABLE>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
