-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 HDICeSzEHJyfF7MVarNUJk71+6bK+qWx1M8r7v95KJGizkznf2BDKS7Z74ECdMz0
 3X1RRlX+W6OI/opLpZ7OmQ==

<SEC-DOCUMENT>0001144204-04-010792.txt : 20040730
<SEC-HEADER>0001144204-04-010792.hdr.sgml : 20040730
<ACCEPTANCE-DATETIME>20040730155206
ACCESSION NUMBER:		0001144204-04-010792
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20040630
FILED AS OF DATE:		20040730

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GLEN BURNIE BANCORP
		CENTRAL INDEX KEY:			0000890066
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				521782444
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24047
		FILM NUMBER:		04942353

	BUSINESS ADDRESS:	
		STREET 1:		101 CRAIN HWY SE
		CITY:			GLEN BURNIE
		STATE:			MD
		ZIP:			21227
		BUSINESS PHONE:		4107663300

	MAIL ADDRESS:	
		STREET 1:		101 CRAIN HWY SE
		CITY:			GLEN BURNIE
		STATE:			MD
		ZIP:			21227
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>form10q.htm
<TEXT>
<HTML><HEAD>
<TITLE>
Unassociated Document
</TITLE>
<!-- Licensed to: v-->
<!-- Document Created using EDGARIZER HTML -->
<!-- Copy Right 2003 EDGARfilings, Ltd., an IEC company.-->
<!-- All rights reserved EDGARfilings.com -->
</HEAD>
<BODY style="MARGIN-LEFT: 2.5%; MARGIN-RIGHT: 2.5%"><DIV valign="bottom"><FONT size=2></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>WASHINGTON, D.C. 20549</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>FORM 10-Q</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B><FONT face=wingdings>x</FONT>&nbsp;QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>THE SECURITIES EXCHANGE ACT OF 1934</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>For the Quarterly period ended June 30, 2004</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>OR</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><FONT face=WINGDINGS>o</FONT>&nbsp;TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>SECURITIES EXCHANGE ACT OF 1934</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>Commission file number </B><B><U>0-24047</B></U></FONT><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><B><FONT size=5>GLEN BURNIE BANCORP</FONT></B><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>(Exact name of registrant as specified in its charter)</FONT></DIV><FONT size=2>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify valign="bottom"></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify>
<TABLE cellSpacing=0 cellPadding=0 width="100%" align=center valign="top">

<TR>
<TD vAlign=top align=justify width="40%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>Maryland</B></FONT></DIV></TD>
<TD vAlign=top align=justify width="40%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>52-1782444</B></FONT></DIV></TD></TR>
<TR>
<TD vAlign=top align=justify width="40%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>(State or other jurisdiction of <FONT size=2><B>incorporation or organization)</B></FONT></B></FONT></DIV></TD>
<TD vAlign=top align=justify width="40%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>(I.R.S. Employer <FONT size=2><B>Identification No.)</B></FONT></B></FONT></DIV></TD></TR>
<TR>
<TD vAlign=top align=justify width="40%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B></B></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=justify width="40%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B></B></FONT>&nbsp;</DIV></TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify>
<TABLE cellSpacing=0 cellPadding=0 width="100%" align=center valign="top">

<TR>
<TD vAlign=top align=justify width="40%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>101 Crain Highway, S.E.</B></FONT></DIV></TD>
<TD vAlign=top align=justify width="40%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR>
<TD vAlign=top align=justify width="40%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>Glen Burnie, Maryland</B></FONT></DIV></TD>
<TD vAlign=top align=justify width="40%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>21061</B></FONT></DIV></TD></TR>
<TR>
<TD vAlign=top align=justify width="40%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>(Address of principal executive offices)</B></FONT></DIV></TD>
<TD vAlign=top align=justify width="40%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>(Zip Code)</B></FONT></DIV></TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center></FONT><FONT size=2>Registrant&#146;s telephone number, including area code: <B>(410) 766-3300</B></FONT></DIV><FONT size=2>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><BR></DIV></FONT>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>Inapplicable</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>(Former name, former address and former fiscal year if changed from last report.)</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes&nbsp;<FONT face=wingdings>x</FONT> No <FONT face=WINGDINGS>o</FONT></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Indicate by check mark whether the registrant is an accelerated filer (as defined in Rule 12b-2 of the Exchange Act. Yes <FONT face=Wingdings>o </FONT>No&nbsp;<FONT face=Wingdings>x</FONT></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>At July 29, 2004, the number of shares outstanding of the registrant&#146;s common stock was 2,032,803.<FONT color=#ff0000> </FONT></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp; &nbsp;</FONT> <FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp; &nbsp;</FONT> <FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp; &nbsp;</FONT> <FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp; &nbsp;</FONT> <FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp; &nbsp;</FONT> <FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp; &nbsp;</FONT> <FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp; &nbsp;</FONT></FONT></DIV>
<DIV>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%">

<TR>
<TD vAlign=top width="100%" colSpan=3><FONT size=2>&nbsp;</FONT></TD></TR>
<TR>
<TD align=left width="33%"><FONT size=2>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=2>&nbsp;</FONT></TD>
<TD align=right width="33%"><FONT size=2>&nbsp;</FONT></TD></TR>
<TR>
<TD colSpan=3><FONT size=2>
<HR style="PAGE-BREAK-AFTER: always" width="100%" noShade SIZE=1>
</FONT></TD></TR>
<TR>
<TD vAlign=top width="100%" colSpan=3><FONT size=2>&nbsp;</FONT></TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2></FONT></DIV>
<DIV valign="bottom"><FONT size=2></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><B><U><FONT size=2>TABLE OF CONTENTS</FONT></B></U></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><B>Part I - Financial Information</B><FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp; </FONT></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 216pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT></DIV>
<DIV align=center>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0 valign="top">

<TR>
<TD vAlign=top align=left width="10%">&nbsp;</TD>
<TD vAlign=top align=left width="75%">&nbsp;</TD>
<TD vAlign=top align=left width="4%">&nbsp;<FONT size=2>&nbsp;<B><U>Page</B></FONT></U></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Item 1.</B></FONT></DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Consolidated Financial Statements:</B></FONT></DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Condensed Consolidated Balance Sheets,</B></FONT></DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>June 30, 2004 (unaudited) and December 31, 2003 (audited)</B></FONT></DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=right><FONT size=2><B>3</B></FONT></DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Condensed Consolidated Statements of Income for the Three and </B></FONT></DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Six Months Ended June 30, 2004 and 2003 (unaudited)</B></FONT></DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=right><FONT size=2><B>4</B></FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Condensed Consolidated Statements of Comprehensive (Loss)</B></FONT></DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Income for the Three and Six Months Ended June 30, 2004</B></FONT></DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>and 2003 (unaudited)</B></FONT></DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=right><FONT size=2><B>5</B></FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Condensed Consolidated Statements of Cash Flows for the Six</B></FONT></DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Months Ended June 30, 2004 and 2003 (unaudited)</B></FONT></DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=right><FONT size=2><B>6</B></FONT></DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Notes to Unaudited Condensed Consolidated Financial Statements</B></FONT></DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=right><FONT size=2><B>7</B></FONT></DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B></B></FONT>&nbsp;</DIV></B></FONT></DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B></B></FONT>&nbsp;</DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><STRONG>Item 2.</STRONG></FONT></DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Management&#146;s Discussion and Analysis of Financial Condition </B></FONT>and Results of Operations</B></FONT></DIV></DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=right><FONT size=2><B>8</B></FONT></DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left>
  <b><font size="2">&nbsp;Item 3.</font></b></DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Quantitative and Qualitative Disclosure About Market Risk</B></FONT></DIV></B></FONT></DIV></TD>
<TD vAlign=top align=left width="4%"><FONT size=2><B>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=right><FONT size=2><B>14</B></FONT></DIV></B></FONT></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Item 4.</B></FONT></DIV></FONT></DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Controls and Procedures</B></FONT></DIV></B></FONT></DIV></TD>
<TD vAlign=top align=left width="4%"><FONT size=2><B>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=right><FONT size=2><B>14</B></FONT></DIV></B></FONT></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=left width="85%" colSpan=2>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Part II - Other Information</B></FONT><FONT size=2></FONT></DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=left width="10%">&nbsp;</TD>
<TD vAlign=top align=left width="75%">&nbsp;</TD>
<TD vAlign=top align=left width="4%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Item 4.</B></FONT></DIV></FONT></DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Submission of Matters to a Vote of Security Holders</B></FONT></DIV></B></FONT></DIV></TD>
<TD vAlign=top align=left width="4%"><FONT size=2><B>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=right><FONT size=2><B>15</B></FONT></DIV></B></FONT></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><STRONG>Item 6.</STRONG></FONT></DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B><FONT size=2><B>Exhibits and Reports on Form 8-K</B></FONT></B></FONT></DIV></TD>
<TD vAlign=top align=left width="4%"><FONT size=2><B>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=right><FONT size=2><B>15</B></FONT></DIV></B></FONT></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=left width="10%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=top align=left width="75%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Signatures</B></FONT></DIV></TD>
<TD vAlign=top align=left width="4%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=right><FONT size=2><B>16</B></FONT></DIV></TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left>&nbsp;</DIV></DIV>
<DIV>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%" align=center border=0>

<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=right width="34%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3><FONT size=1>
<HR style="PAGE-BREAK-AFTER: always" noShade SIZE=1>
</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR></TABLE></DIV>
<DIV>&nbsp;</DIV>
<DIV><BR></DIV>
<DIV valign="bottom"><FONT size=2></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><B><U><FONT size=2>PART I - FINANCIAL INFORMATION</FONT></B></U></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><B>ITEM 1.</B><FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp; &nbsp;</FONT><U>CONSOLIDATED FINANCIAL STATEMENTS</U></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>GLEN BURNIE BANCORP AND SUBSIDIARIES</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>CONDENSED CONSOLIDATED BALANCE SHEETS</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>(Dollars in Thousands)</B></FONT><A name=node4><FONT size=2> </FONT></A></DIV>
<DIV>&nbsp;</DIV>
<DIV>
<TABLE id=10001 cellSpacing=0 cellPadding=0 width="100%" align=center valign="top">

<TR>
<TD vAlign=bottom align=left width="71%">&nbsp;
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>ASSETS</B></FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>June 30, 2004</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>(unaudited)</FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>December 31,&nbsp;2003</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>(audited)</FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR vAlign=bottom bgColor=#ffffff>
<TD width="57%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%"><FONT size=2>&nbsp;</FONT></TD>
<TD align=right width="12%" colSpan=2>
<HR noShade SIZE=2>
</TD>
<TD width="2%"><FONT size=2>&nbsp;</FONT></TD>
<TD align=right width="12%" colSpan=2>
<HR noShade SIZE=2>
</TD>
<TD width="2%"><FONT size=2>&nbsp;</FONT></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Cash and due from banks </FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>11,037</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>11,120</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Interest-bearing deposits in other financial institutions</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>54</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>57</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Federal funds sold </FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,876</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,718</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Cash and cash equivalents</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>12,967</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>12,895</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Investment securities available for sale, at fair value </FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>99,285</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>99,602</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Investment securities held to maturity, at cost </FONT><FONT size=2>(fair value June 30: $3,342; December 31: $3,816)</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>3,187</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>3,579</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Federal Home Loan Bank stock, at cost</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>973</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>896</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Maryland Financial Bank stock, at cost</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>100</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>-</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Common Stock in the Glen Burnie Statutory Trust I</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>155</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>155</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Loans, less allowance for credit losses </FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>(June 30: $2,323; December 31: $2,247)</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>179,591</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>172,819</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Premises and equipment, at cost, less accumulated depreciation </FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>3,994</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>4,220</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Other real estate owned</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>168</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>172</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Cash value of life insurance</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>4,885</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>4,782</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Other assets</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>3,010</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>3,132</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Total assets</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>308,315</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>302,252</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=middle width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>LIABILITIES AND STOCKHOLDERS&#146; EQUITY</B></FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>LIABILITIES:</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Deposits</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>264,446</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>256,908</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Short-term borrowings</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>6,465</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>6,602</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Long-term borrowings</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>7,213</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>7,227</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Junior subordinated debentures owed to unconsolidated subsidiary trust</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>5,155</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>5,155</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Other liabilities</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,356</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,413</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Total liabilities</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>284,635</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>278,305</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>COMMITMENTS AND CONTINGENCIES </FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>STOCKHOLDERS&#146; EQUITY:</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Common stock, par value $1, authorized 15,000,000 shares;</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Issued and outstanding: June 30: 2,032,803 shares;</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>December 31: 1,689,281 shares</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,033</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,689</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Surplus</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>11,013</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>10,862</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Retained earnings</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>10,776</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>10,115</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Accumulated other comprehensive (loss) income, net of tax</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(142 </FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,281</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Total stockholders&#146; equity</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>23,680</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>23,947</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Total liabilities and stockholders&#146; equity </FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>308,315</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>302,252</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><I>See accompanying notes to condensed consolidated financial statements.</I></FONT></DIV>
<DIV>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%">

<TR>
<TD vAlign=top width="100%" colSpan=3>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR>
<TD align=left width="33%"><FONT size=2>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=2>&nbsp;3</FONT></TD>
<TD align=right width="33%"><FONT size=2>&nbsp;</FONT></TD></TR>
<TR>
<TD colSpan=3><FONT size=2>
<HR style="PAGE-BREAK-AFTER: always" width="100%" noShade SIZE=1>
</FONT></TD></TR>
<TR>
<TD vAlign=top width="100%" colSpan=3><FONT size=2>&nbsp;</FONT></TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>GLEN BURNIE BANCORP AND SUBSIDIARIES</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>CONDENSED CONSOLIDATED STATEMENTS OF INCOME</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>(Dollars in Thousands, Except Per Share Amounts)</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>(Unaudited)</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT><A name=node5></A></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT></DIV>
<DIV>
<TABLE id=10001 cellSpacing=0 cellPadding=0 width="100%" align=center valign="top">

<TR>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=middle width="28%" colSpan=6>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>Three Months Ended</FONT></DIV></TD>
<TD vAlign=bottom align=middle width="27%" colSpan=6>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>Six Months Ended</FONT></DIV></TD></TR>
<TR>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="28%" colSpan=6>
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>June 30,</FONT></DIV></TD>
<TD vAlign=bottom align=right width="27%" colSpan=6>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px" align=center><FONT size=2>June 30,</FONT></DIV></TD></TR>
<TR>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="28%" colSpan=6><FONT size=2>
<HR align=left width="94%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=right width="27%" colSpan=6><FONT size=2>
<HR align=left width="94%" noShade SIZE=2>
</FONT></TD></TR>
<TR>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px" align=center><FONT size=2>2004</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=left width="1%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px" align=center><FONT size=2>2003</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=left width="1%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px" align=center><FONT size=2>2004</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=left width="1%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px" align=center><FONT size=2>2003</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Interest income on:</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Loans, including fees</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,709</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,830</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>5,450</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>5,649</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>U.S. Treasury and U.S. Government agency securities</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>535</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>526</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,090</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,013</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>State and municipal securities</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>451</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>435</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>916</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>810</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Other</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>112</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>118</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>232</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>249</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Total interest income </FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>3,807</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>3,909</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>7,688</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>7,721</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Interest expense on:</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Deposits</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>639</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>864</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,308</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,763</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Short-term borrowings</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>27</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Long-term borrowings</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>107</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>110</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>215</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>218</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Junior subordinated debentures</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>137</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>137</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>273</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>273</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Total interest expense</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>885</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,112</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,823</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,256</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Net interest income</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,922</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,797</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>5,865</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>5,465</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Provision for credit losses</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>60</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>200</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: -9pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Net interest income after provision for credit losses</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,862</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,797</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>5,665</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>5,465</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Other income:</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Service charges on deposit accounts</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>258</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>249</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>516</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>507</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Other fees and commissions</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>181</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>168</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>332</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>311</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Other non-interest income</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>3</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>4</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>5</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Income on life insurance</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>51</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>68</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>102</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>133</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Gains on investment securities</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>39</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>15</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>269</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>107</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="43%">
<DIV style="MARGIN-LEFT: 9pt"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Total other income</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>530</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>503</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,223</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,063</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Other expenses:</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Salaries and employee benefits</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,517</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,483</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>3,031</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,948</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Occupancy</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>165</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>164</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>339</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>376</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Other expenses</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>827</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>798</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,723</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,596</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Total other expenses</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,509</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,445</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>5,093</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>4,920</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Income before income taxes </FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>883</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>855</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,795</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,608</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Income tax expense</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>177</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>122</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>348</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>219</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Net income </FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>706</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>733</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,447</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,389</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Basic and diluted earnings per share of common stock</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0.35</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0.36</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0.71</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0.69</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Weighted average shares of common stock outstanding</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,030,640</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,017,537</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,029,043</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,016,073</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Dividends declared per share of common stock</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0.11</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0.10</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0.22</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0.20</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><I>See accompanying notes to condensed consolidated financial statements.</I></FONT></DIV>
<DIV>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%">

<TR>
<TD vAlign=top width="100%" colSpan=3>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR>
<TD align=left width="33%"><FONT size=2>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=2>&nbsp;4</FONT></TD>
<TD align=right width="33%"><FONT size=2>&nbsp;</FONT></TD></TR>
<TR>
<TD colSpan=3><FONT size=2>
<HR style="PAGE-BREAK-AFTER: always" width="100%" noShade SIZE=1>
</FONT></TD></TR>
<TR>
<TD vAlign=top width="100%" colSpan=3><FONT size=2>&nbsp;</FONT></TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>GLEN BURNIE BANCORP AND SUBSIDIARIES</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: -27pt" align=center><FONT size=2><B>CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>(Dollars in Thousands)</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>(Unaudited)</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV>
<TABLE id=10001 cellSpacing=0 cellPadding=0 width="100%" align=center valign="top">

<TR>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="28%" colSpan=6>
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>Three Months Ended&nbsp;</FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=right width="27%" colSpan=6>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px" align=center><FONT size=2>Six Months Ended </FONT></DIV></TD></TR>
<TR>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="28%" colSpan=6>
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>June 30,</FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=right width="27%" colSpan=6>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px" align=center><FONT size=2>June 30,</FONT></DIV></TD></TR>
<TR>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="28%" colSpan=6><FONT size=2>
<HR align=left width="94%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=right width="27%" colSpan=6><FONT size=2>
<HR align=left width="94%" noShade SIZE=2>
</FONT></TD></TR>
<TR>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px" align=center><FONT size=2>2004 </FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=left width="1%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px" align=center><FONT size=2>2003</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=left width="1%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px" align=center><FONT size=2>2004</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=left width="1%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px" align=center><FONT size=2>2003</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Net income </FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>706</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>733</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,447</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,389</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Other comprehensive income (loss), net of tax</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Unrealized gains (losses) securities:</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Unrealized holding gains (losses) arising </FONT><FONT size=2>during period</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(1,686 </FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>873</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(1,258</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>703</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Reclassification adjustment for gains </FONT><FONT size=2>included in net income</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(24 </FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(56</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(165</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(66</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Comprehensive (loss) income</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2><B>(</B><B>$</B>1,004)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,550</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>24</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,026</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><I>See accompanying notes to condensed consolidated financial statements.</I></FONT></DIV>
<DIV>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%">

<TR>
<TD vAlign=top width="100%" colSpan=3>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR>
<TD align=left width="33%"><FONT size=2>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=2>&nbsp;5</FONT></TD>
<TD align=right width="33%"><FONT size=2>&nbsp;</FONT></TD></TR>
<TR>
<TD colSpan=3><FONT size=2>
<HR style="PAGE-BREAK-AFTER: always" width="100%" noShade SIZE=1>
</FONT></TD></TR>
<TR>
<TD vAlign=top width="100%" colSpan=3><FONT size=2>&nbsp;</FONT></TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>GLEN BURNIE BANCORP AND SUBSIDIARIES</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>(Dollars in Thousands)</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>(Unaudited)</B></FONT><FONT size=2><BR></FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV>
<TABLE id=10001 cellSpacing=0 cellPadding=0 width="100%" align=center valign="top">

<TR>
<TD vAlign=bottom align=left width="71%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="26%" colSpan=5>
<P align=center>&nbsp;<FONT size=2>Six Months Ended June 30,</FONT></P></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="71%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="26%" colSpan=5>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px" align=center><FONT size=2>2004</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=left width="1%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px" align=center><FONT size=2>2003</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Cash flows from operating activities:</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Net income</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,447</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,389</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Adjustments to reconcile net income to net cash provided by operating activities:</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Depreciation, amortization, and accretion </FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>468</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>157</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Compensation expense from vested stock options</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>29</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Provision for credit losses</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>200</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Gains on disposals of assets, net</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(269</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(88</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Income on investment in life insurance</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(103</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(133</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Changes in assets and liabilities:</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Decrease (increase) in other assets</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,057</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(245</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Decrease in other liabilities </FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(994</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(91</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Net cash provided by operating activities</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,835</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>989</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Cash flows from investing activities:</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Maturities of available for sale mortgage-backed securities</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>3,518</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>14,762</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Proceeds from disposals of investment securities</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>9,566</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>5,562</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Purchases of investment securities</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(14,571</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(33,530</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Purchases of Federal Home Loan Bank stock</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(77</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(193</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Purchase of MD Financial Bank stock</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(100</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Increase in loans, net</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(6,972</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(3,559</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Proceeds from sale of other real estate</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>220</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Purchases of premises and equipment</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(131</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(469</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Net cash used by investing activities</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(8,767</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(17,207</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Cash flows from financing activities:</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Increase in deposits, net</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>7,538</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>14,882</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>(Decrease) increase in short-term borrowings</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(137</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>976</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Repayment of long-term borrowings</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(14</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(12</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Dividends paid</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(511</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(481</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Issuance of common stock</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>29</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>18</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Common stock dividends reinvested</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>99</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>86</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Net cash provided by financing activities</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>7,004</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>15,469</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Increase (decrease) in cash and cash equivalents</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>72</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(749</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Cash and cash equivalents, beginning of year</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>12,895</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>15,742</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Cash and cash equivalents, end of period </FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>12,967</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>14,993</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><I>See accompanying notes to condensed consolidated financial statements.</I></FONT></DIV>
<DIV>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%">

<TR>
<TD vAlign=top width="100%" colSpan=3>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR>
<TD align=left width="33%"><FONT size=2>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=2>&nbsp;6</FONT></TD>
<TD align=right width="33%"><FONT size=2>&nbsp;</FONT></TD></TR>
<TR>
<TD colSpan=3><FONT size=2>
<HR style="PAGE-BREAK-AFTER: always" width="100%" noShade SIZE=1>
</FONT></TD></TR>
<TR>
<TD vAlign=top width="100%" colSpan=3><FONT size=2>&nbsp;</FONT></TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>GLEN BURNIE BANCORP AND SUBSIDIARIES</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>(Unaudited)</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><B>NOTE 1 - BASIS OF PRESENTATION</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Form 10-Q and, therefore, do not include all information and notes necessary for a complete presentation of financial position, results of operations, changes in stockholders&#146; equity, and cash flows in conformity with accounting principles generally accepted in the United States of America. However, all adjustments (consisting only of normal recurring accruals) which, in the opinion of management, are necessary for a fair presentation of the unaudited consolidated financial statements have been included in the results of operations for the three and six months ended June 30, 2004 and 2003.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Operating results for the three and six-month periods ended June 30, 2004 are not necessarily indicative of the results that may be expected for the year ending December 31, 2004.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><B>NOTE 2 - EARNINGS PER SHARE</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Information for net income per share and weighted average shares outstanding for prior periods have been restated to reflect 337,267 shares of common stock issued in a 20% stock dividend paid in January, 2004.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Basic earnings per share of common stock are computed by dividing net earnings by the weighted average number of common shares outstanding during the period. Diluted earnings per share are calculated by including the average dilutive common stock equivalents outstanding during the periods. Dilutive common equivalent shares consist of stock options, calculated using the treasury stock method.</FONT></DIV>
<DIV style="MARGIN-LEFT: 72pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV>
<TABLE id=10001 cellSpacing=0 cellPadding=0 width="100%" align=center valign="top">

<TR>
<TD vAlign=bottom align=justify width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=middle width="28%" colSpan=6>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>Three Months Ended</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>June 30, </FONT></DIV></TD>
<TD vAlign=bottom align=middle width="27%" colSpan=6>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>Six Months Ended</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>June 30, </FONT></DIV></TD></TR>
<TR>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="28%" colSpan=6><FONT size=2>
<HR align=left width="94%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=right width="27%" colSpan=6><FONT size=2>
<HR align=left width="94%" noShade SIZE=2>
</FONT></TD></TR>
<TR>
<TD vAlign=bottom align=justify width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px" align=center><FONT size=2>2004</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=left width="1%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px" align=center><FONT size=2>2003</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=left width="1%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px" align=center><FONT size=2>2004</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=left width="1%">
<P align=center>&nbsp;</P></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px" align=center><FONT size=2>2003</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=justify width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Diluted:</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="28%" colSpan=6>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=justify width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Net income</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>706,000</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>733,000</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,447,000</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>1,389,000</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: -8.4pt" align=left><FONT size=2>Weighted average common shares outstanding</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,030,640</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,017,537</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,029,043</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,016,073</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=justify width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Dilutive effect of stock options</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>922 </FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>3,190 </FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>836 </FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>3,190 </FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="43%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=justify width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Average common shares outstanding - diluted</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,031,562</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,020,727</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,029,879</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,019,263</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=justify width="43%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Diluted net income per share</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0.35</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0.36</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0.71</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0.69</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>NOTE 3 &#150; EMPLOYEE STOCK PURCHASE BENEFIT PLANS</B> </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>The Company has an employee stock purchase compensation plan. The Bank applies Accounting Principles Board Opinion (&#147;APB&#148;) No. 25 and related Interpretations in accounting for this plan. Compensation cost of $29,000 has been recognized in 2004. If compensation cost for the Company&#146;s stock-based compensation plan had been determined based on the fair value at the grant date for awards under this plan consistent with the methods outlined in SFAS No. 123 Accounting for Stock-Based Compensation, there would be no material change in reported net income.<FONT background-color="#D9D9D9"> </FONT></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>During the first quarter of 2004, the Board of Directors finalized additional options to be granted under this plan at $20.70 per share for a period of 11 months, expiring December, 2004. The Company granted 7,944 options under this plan of which 1,409 options have been exercised as of June 30, 2004.</FONT></DIV>
<DIV>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%">

<TR>
<TD vAlign=top width="100%" colSpan=3>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2></FONT>&nbsp;</DIV></TD></TR>
<TR>
<TD align=left width="33%"><FONT size=2>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=2>&nbsp;7</FONT></TD>
<TD align=right width="33%"><FONT size=2>&nbsp;</FONT></TD></TR>
<TR>
<TD colSpan=3><FONT size=2>
<HR style="PAGE-BREAK-AFTER: always" width="100%" noShade SIZE=1>
</FONT></TD></TR>
<TR>
<TD vAlign=top width="100%" colSpan=3><FONT size=2>&nbsp;</FONT></TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><B>ITEM 2.</B><FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;</FONT>MANAGEMENT&#146;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><B>OVERVIEW</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>During the second quarter of 2004, the Company had several favorable operating trends continue. Most significantly, net interest income before provisions for credit losses grew from $2,797,000 in 2003 to $2,922,000 in 2004, a 4.47% increase. Interest income and interest expense continued to decline despite increases in loans and deposits due to a declining interest rate environment. In addition, the Company realized increases in other income relating to service charges on deposit accounts, other fees and commissions, other non-interest income and gains on investment securities. The Company realized net income of $706,000 for the quarter in 2004 compared to $733,000 for the quarter in 2003, a 3.68% decrease, primarily due to an increase in income tax expense recognized for the 2004 period. The increase in the effective income tax rate was due to a decline in tax exempt income on
life insurance and some U.S. Government agency securities, as the investment portfolio has shifted from securities exempt from state income taxes to mortgage backed securities, subject to state income taxes. In accordance with regulatory requirements, the Company reports accumulated other comprehensive income or loss in its financial statements. Accumulated other comprehensive income or loss consists of the Company&#146;s net income, adjusted for unrealized gains or losses on the Bank&#146;s portfolio of investment securities. Accumulated other comprehensive (loss) income, net of tax, decreased by $1,423,000 for the six month period to ($142,000) due to a decrease in unrealized holding gains on available for sale securities at June 30, 2004. </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><B>FORWARD-LOOKING STATEMENTS<br>
&nbsp;</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>When used in this discussion and elsewhere in this Form 10-Q, the words or phrases &#147;will likely result,&#148; &#147;are expected to,&#148; &#147;will continue,&#148; &#147;is anticipated,&#148; &#147;estimate,&#148; &#147;project&#148; or similar expressions are intended to identify &#147;forward-looking statements&#148; within the meaning of the Private Securities Litigation Reform Act of 1995. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and readers are advised that various factors, including regional and national economic conditions, unfavorable judicial decisions, substantial changes in levels of market interest rates, credit and other risks of lending and investment activities and competitive and regulatory factors could affect the Company&#146;s financial performance and could
cause the Company&#146;s actual results for future periods to differ materially from those anticipated or projected.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>The Company does not undertake and specifically disclaims any obligation to update any forward-looking statements to reflect occurrence of anticipated or unanticipated events or circumstances after the date of such statements.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><B>RESULTS OF OPERATIONS<br>
  </B><BR></DIV></FONT>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><I>General. </I>Glen Burnie Bancorp, a Maryland corporation (the &#147;Company&#148;), and its subsidiaries, The Bank of Glen Burnie (the &#147;Bank&#148;) and GBB Properties, Inc., both Maryland corporations, and Glen Burnie Statutory Trust I, a Connecticut business trust, had consolidated net income of $706,000 ($0.35 basic and diluted earnings per share) for the second quarter of 2004, compared to second quarter 2003 consolidated net income of $733,000 ($0.36 basic and diluted earnings per share). The decrease in consolidated net income for the three month period was due to increases in provision for loan loss, income tax expense and other expense combined with a decrease in interest income on loans, partially offset by an increase in other income and a decrease in interest expense on deposits. Year-to-date consolidated net income for the six months ended June 30, 2004 was
$1,447,000 ($0.71 basic and diluted earnings per share), compared to $1,389,000 ($0.69 basic and diluted earnings per share) for the six months ended June 30, 2003. The increase for the six month period was primarily due to a decrease in interest expense on deposits and an increase in gains on investment securities. This was partially offset by increases in provision for loan losses, income tax expense, and other expenses. All historic earnings per share figures have been adjusted to reflect the Company&#146;s stock dividend paid on January 16, 2004.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><I>Net Interest Income</I>. The Company&#146;s consolidated net interest income prior to provision for credit losses for the three and six months ended June 30, 2004 was $2,922,000 and $5,865,000, respectively, compared to $2,797,000 and $5,465,000 for the same respective periods in 2003, an increase of $125,000 (4.47%) for the three-month period and an increase of $400,000 (7.32%) for the six-month period. These increases were primarily attributable to a decrease in interest expense on deposits, partially offset by a decrease in interest income on loans. </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT>
<DIV>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%" align=center border=0>

<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=1>&nbsp;8</FONT></TD>
<TD align=right width="34%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3><FONT size=1>
<HR style="PAGE-BREAK-AFTER: always" noShade SIZE=1>
</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR></TABLE></DIV>
<DIV>&nbsp;</DIV></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Interest income decreased $102,000 (2.61%) for the three months ended June 30, 2004 and decreased $33,000 (0.43%) for the six months ended June 30, 2004, compared to the same periods in 2003, primarily due to a decrease in interest income on loans, partially offset by an increase in interest on U.S. Government agency securities and state and municipal securities.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Interest expense decreased $227,000 (20.41%) for the three months ended June 30, 2004 and declined $433,000 (19.19%) for the six months ended June 30, 2004, compared to the same 2003 periods, principally due to a decline in the interest expense on deposits for the three month period and a decline in interest expense on deposits, partially offset by an increase in short-term borrowings for the six month period.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Net interest margins for the three and six months ended June 30, 2004 were 4.62% and 4.64%, compared to tax equivalent net interest margins of 4.57% and 4.55% for the three and six months ended June 30, 2003. The increase<B> </B>in net interest margins for the three and six months ended June 30, 2004 were primarily due to a decline in interest rates paid on deposits.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><I>Provision For Credit Losses</I>. The Company made an additional provision of $60,000 and $200,000 during the three and six month periods ended June 30, 2004, and no additional provision for credit losses during the three and six month period ended June 30, 2003. As of June 30, 2004, the allowance for credit losses equaled 372.28% of non-accrual and past due loans compared to 385.42% at December 31, 2003 and 343.68% at June 30, 2003. During the three and six month periods ended June 30, 2004, the Company recorded net charge-offs of $16,000 and $124,000, respectively, compared to net charge-offs of $43,000 and $178,000, respectively, during the corresponding periods of the prior year. On an annualized basis, net charge-offs for the 2004 period represent 0.14% of the average loan portfolio.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><I>Other Income</I>. Other income increased from $503,000 for the three month period ended June 30, 2003, to $530,000 for the corresponding 2004 period, a $27,000 (5.37%) increase. For the six month period, other income increased from $1,063,000 at June 30, 2003 to $1,223,000 at June 30, 2004, a $160,000 (15%) increase. The increase in other income for the three month period was primarily due to an increase in service charges on deposits, other fees and commissions and gains on investments. The increase in other income for the six month period was primarily due to a gain on investment securities, which was partially offset by a decline in income on life insurance. The decline in life insurance was due to a decrease in asset value as a result of a death benefit payout in 2003.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><I>Other Expense</I>. Other expense increased from $2,445,000 for the three month period ended June 30, 2003, to $2,509,000 for the corresponding 2004 period, a $64,000 (2.62%) increase. For the six month period, other expenses increased from $4,920,000 at June 30, 2003 to $5,093,000 at June 30, 2004, an increase of $173,000 (3.52%). The increase for the three month period was due primarily to increases in salaries and employee benefits and other expenses. The increase for the six month period was due to increases in salaries and employee benefits and other expenses, offset by a decrease in occupancy expense. The increase in salaries and benefits for the six month period was due to an accrual for the Employee Stock Purchase Plan and an overall increase in 2004 salaries due to pay raises. Other expenses primarily increased in all accounts with large increases in ATM expense,
education, stationary and office supplies and other professional fees accounting for approximately two thirds of the increase for the six month period ended June 30, 2004. The decrease in occupancy expense for the six month period ended June 30, 2004 was due to a decrease in maintenance and repairs on buildings and a decrease in other occupancy expense. Part of this decrease in 2004 was due to expenses incurred in 2003 for the relocation of the Severna Park branch and snow removal done at the various branches because of a harsher winter in the beginning of 2003.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><I>Income Taxes</I>. During the three and six months ended June 30, 2004, the Company recorded income tax expense of $177,000 and $348,000, respectively, compared to an income tax expense of $122,000 and $219,000, respectively, for the corresponding periods of the prior year. The increase in income tax expenses for the three month period is primarily due to additional gains realized on investment securities and a decline in tax exempt earnings on life insurance and some U.S. Government agency securities, as the investment portfolio has shifted from securities exempt from state income taxes to mortgage backed securities, subject to state income taxes. The increase in income tax expenses for the six month period is primarily due to the additional realized gains on investment securities. The Company&#146;s effective tax rate for the three and six month periods in 2004 were 20.05% and

19.39%, respectively, compared to 14.27% and 13.62%, respectively, for the prior year periods. </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT>
<DIV>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%" align=center border=0>

<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=1>9&nbsp;</FONT></TD>
<TD align=right width="34%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3><FONT size=1>
<HR style="PAGE-BREAK-AFTER: always" noShade SIZE=1>
</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR></TABLE></DIV>
<DIV>&nbsp;</DIV></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><B>FINANCIAL CONDITION<br>
  </B><BR></DIV></FONT>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><I>General. </I>The Company&#146;s assets increased to $308,315,000 at June 30, 2004 from $302,252,000 at December 31, 2003, primarily due to an increase in the loan portfolio. The Bank&#146;s net loans totaled $179,591,000 at June 30, 2004, compared to $172,819,000 at December 31, 2003, an increase of $6,772,000 (3.92%), primarily attributable to increases in refinances of one-four family homes, commercial construction and indirect loans.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>The Company&#146;s total investment securities portfolio (including both investment securities available for sale and investment securities held to maturity) totaled $102,472,000 at June 30, 2004, a $709,000 (0.69%) decrease from $103,181,000 at December 31, 2003. The Bank&#146;s cash and cash equivalents (cash due from banks, interest-bearing deposits in other financial institutions, and federal funds sold), as of June 30, 2004, totaled $12,967,000, an increase of $72,000 (0.56%) from the December 31, 2003 total of $12,895,000. The aggregate market value of investment securities held by the Bank as of June 30, 2004 was $102,627,000 compared to $103,418,000 as of December 31, 2003, a $791,000 (0.76%) decrease. </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Deposits as of June 30, 2004 totaled $264,446,000, which is an increase of $7,538,000 (2.93%) from $256,908,000 at December 31, 2003. Demand deposits as of June 30, 2004 totaled $73,241,000 which is an increase of $3,592,000 (5.16%) from $69,649,000 at December 31, 2003. NOW accounts as of June 30, 2004 totaled $28,711,000 which is an increase of $310,000 (1.09%) from $28,401,000 at December 31, 2003. Money market accounts as of June 30, 2004 totaled $21,376,000 which is an increase of $1,232,000 (6.12%), from $20,144,000 at December 31, 2003. Savings deposits as of June 30, 2004 totaled $56,165,000 an increase of $2,786,000 (5.22%) from $53,379,000 at December 31, 2003. Certificates of deposit over $100,000 totaled $16,278,000 on June 30, 2004, an increase of $628,000 (4.01%) from $15,650,000 at December 31, 2003. Other time deposits (made up of certificates of deposit less than
$100,000 and individual retirement accounts) totaled $67,931,000 on June 30, 2004, a $1,755,000 (2.52%) decrease from the $69,686,000 total at December 31, 2003.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><I>Asset Quality</I>. The following table sets forth the amount of the Bank&#146;s restructured loans, non-accrual loans and accruing loans 90 days or more past due at the dates indicated.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT>
<DIV>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%" align=center border=0>

<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=1>&nbsp;10</FONT></TD>
<TD align=right width="34%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3><FONT size=1>
<HR style="PAGE-BREAK-AFTER: always" noShade SIZE=1>
</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR></TABLE></DIV>
<DIV>&nbsp;</DIV></DIV>
<DIV>
<DIV>&nbsp;</DIV>
<DIV>
<TABLE id=10001 cellSpacing=0 cellPadding=0 width="100%" align=center valign="top">

<TR>
<TD vAlign=bottom align=left width="71%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>At <BR>June 30,</FONT></DIV>2004</FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>At<BR> December 31,</FONT></DIV>2003</FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR vAlign=bottom bgColor=#ffffff>
<TD width="57%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%"><FONT size=2>&nbsp;</FONT></TD>
<TD align=right width="12%" colSpan=2>
<HR noShade SIZE=2>
</TD>
<TD width="2%"><FONT size=2>&nbsp;</FONT></TD>
<TD align=right width="12%" colSpan=2>
<HR noShade SIZE=2>
</TD>
<TD width="2%"><FONT size=2>&nbsp;</FONT></TD></TR>
<TR>
<TD vAlign=bottom align=left width="71%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="26%" colSpan=5>
<P align=center>&nbsp;<FONT size=2>(Dollars in Thousands)</FONT></P></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Restructured loans </FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Non-accrual loans:</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Real estate &#150; mortgage:</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Residential </FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>128</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>34</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Commercial</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>261</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>265</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Real estate &#150; construction</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Installment</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>208</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>250</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Credit card &amp; related</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Commercial</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>16 </FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>23</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Total non-accrual loans</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>613</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>572</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Accruing loans past due 90 days or more:</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Real estate &#150; mortgage:</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Residential</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>5</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Commercial</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Real estate &#150; construction </FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>6</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>6</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Installment</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>3</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Credit card &amp; related</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Commercial</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Other</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Total accruing loans past due 90 days or more</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>11</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>11 </FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%">
<DIV style="MARGIN-LEFT: 9pt"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Total non-accrual and past due loans</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>624</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>583</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Non-accrual and past due loans to gross loans</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0.34</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>%</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0.33</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>%</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Allowance for credit losses to non-accrual and past due loans</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>372.28</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>%</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>385.42</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>%</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR></TABLE></DIV></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>At June 30, 2004, there were no loans outstanding, other than those reflected in the above table, as to which known information about possible credit problems of borrowers caused management to have serious doubts as to the ability of such borrowers to comply with present loan repayment terms. Such loans consist of loans which were not 90 days or more past due but where the borrower is in bankruptcy or has a history of delinquency, or the loan to value ratio is considered excessive due to deterioration of the collateral or other factors.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><I>Allowance For Credit Losses</I>. The allowance for credit losses is established through a provision for credit losses charged to expense. Loans are charged against the allowance for credit losses when management believes that the collectibility of the principal is unlikely. The allowance, based on evaluations of the collectibility of loans and prior loan loss experience, is an amount that management believes will be adequate to absorb possible losses on existing loans that may become uncollectible. The evaluations take into consideration such factors as changes in the nature and volume of the loan portfolio, overall portfolio quality, review of specific problem loans, and current economic conditions and trends that may affect the borrowers&#146; ability to pay.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT>
<DIV>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%" align=center border=0>

<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=1>&nbsp;11</FONT></TD>
<TD align=right width="34%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3><FONT size=1>
<HR style="PAGE-BREAK-AFTER: always" noShade SIZE=1>
</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR></TABLE></DIV>
<DIV>&nbsp;</DIV></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Transactions in the allowance for credit losses for the six months ended June 30, 2004 and 2003 were as follows:</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><A name=node10><FONT size=2></FONT></A></DIV>
<DIV>&nbsp;</DIV>
<DIV>
<TABLE id=10001 cellSpacing=0 cellPadding=0 width="100%" align=center valign="top">

<TR>
<TD vAlign=bottom align=left width="71%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=middle width="27%" colSpan=6>&nbsp;<FONT size=2>Six Months Ended</FONT>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>June 30,</FONT></DIV></TD></TR>
<TR>
<TD vAlign=bottom align=left width="71%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=middle width="14%" colSpan=3>&nbsp;<FONT size=2>2004</FONT></TD>
<TD vAlign=bottom align=middle width="13%" colSpan=3>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>2003</FONT></DIV></TD></TR>
<TR vAlign=bottom bgColor=#ffffff>
<TD width="57%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%"><FONT size=2>&nbsp;</FONT></TD>
<TD align=right width="12%" colSpan=2>
<HR noShade SIZE=2>
</TD>
<TD width="2%"><FONT size=2>&nbsp;</FONT></TD>
<TD align=right width="12%" colSpan=2>
<HR noShade SIZE=2>
</TD>
<TD width="2%"><FONT size=2></FONT></TD></TR>
<TR>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=middle width="27%" colSpan=6>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>(Dollars in Thousands)</FONT></DIV></TD></TR>
<TR>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom width="27%" colSpan=6><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Beginning balance</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,247</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,515</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Charge-offs</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(339</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(405</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Recoveries</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>215 </FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>227 </FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Net charge-offs</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(124</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>(178</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>)</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Provisions charged to operations</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>200</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Ending balance</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,323</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>2,337</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Average loans</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>174,170</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>158,956</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Net charge offs to average loans (annualized)</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0.14</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>%</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0.22</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>%</FONT></DIV></TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><I>Reserve for Unfunded Commitments</I>. As of June 30, 2004, the Bank had outstanding commitments totaling $16,459,194. These outstanding commitments consisted of letters of credit, undrawn lines of credit, and other loan commitments. The following table shows the Bank&#146;s reserve for unfunded commitments arising from these transactions:</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV>
<TABLE id=10001 cellSpacing=0 cellPadding=0 width="100%" align=center valign="top">

<TR>
<TD vAlign=bottom align=left width="71%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=middle width="27%" colSpan=6>&nbsp;<FONT size=2>Six Months Ended</FONT>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>June 30,
<HR width="100%" noShade SIZE=2>
</FONT></DIV></TD></TR>
<TR>
<TD vAlign=bottom align=left width="71%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=middle width="14%" colSpan=3>&nbsp;<FONT size=2>2004</FONT></TD>
<TD vAlign=bottom align=middle width="13%" colSpan=3>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>2003</FONT></DIV></TD></TR>
<TR>
<TD vAlign=bottom align=left width="71%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="27%" colSpan=6>
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2>(Dollars in Thousands)</FONT>&nbsp;</DIV></TD></TR>
<TR>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="27%" colSpan=6><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Beginning balance</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>150</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>150</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2></FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Provisions charged to operations</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>0</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=2>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=bottom align=left width="71%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>Ending balance</FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>150</FONT></DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>$</FONT></DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0px"><FONT size=2>150</FONT></DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2><FONT size=2>
<HR width="100%" noShade SIZE=4>
</FONT></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><I>Off-Balance Sheet Arrangements.</I><B> </B>The Bank is a party to financial instruments in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit, which involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated financial statements.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Loan commitments and lines of credit are agreements to lend to customers as long as there is no violation of any conditions of the contracts. Loan commitments generally have interest rates fixed at current market amounts, fixed expiration dates, and may require payment of a fee. Lines of credit generally have variable interest rates. Many of the loan commitments and lines of credit are expected to expire without being drawn upon; accordingly, the total commitment amounts do not necessarily represent future cash requirements. The Bank evaluates each customer&#146;s creditworthiness on a case-by-case basis. The amount of collateral or other security obtained, if deemed necessary by the Bank upon extension of credit, is based on management&#146;s credit evaluation. Collateral held varies but may include deposits held in financial institutions, U.S. Treasury securities, other
marketable securities, accounts receivable, inventory, property and equipment, personal residences, income-producing commercial properties, and land under development. Personal guarantees are also obtained to provide added security for certain commitments.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Letters of credit are conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to guarantee the installation of real property improvements and similar transactions. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Bank holds collateral and obtains personal guarantees supporting those commitments for which collateral or other securities is deemed necessary.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>The Bank&#146;s exposure to credit loss in the event of nonperformance by the customer is the contractual amount of the commitment. Loan commitments, lines of credit, and letters of credit are made on the same terms, including collateral, as outstanding loans. As of June 30, 2004, the Bank has accrued $150,000 for unfunded commitments related to these financial instruments with off balance sheet risk, which is included in other liabilities. </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT>
<DIV>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%" align=center border=0>

<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=1>&nbsp;12</FONT></TD>
<TD align=right width="34%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3><FONT size=1>
<HR style="PAGE-BREAK-AFTER: always" noShade SIZE=1>
</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR></TABLE></DIV>
<DIV>&nbsp;</DIV></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><I>Contractual Obligations and Commitments.</I> No material changes, outside the normal course of business, have been made during the second quarter of 2004.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>Liquidity And Capital Resources</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>The Company currently has no business other than that of the Bank and does not currently have any material funding commitments. The Company&#146;s principal sources of liquidity are cash on hand and dividends received from the Bank. The Bank is subject to various regulatory restrictions on the payment of dividends.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>The Bank&#146;s principal sources of funds for investments and operations are net income, deposits from its primary market area, principal and interest payments on loans, interest received on investment securities and proceeds from maturing investment securities. Its principal funding commitments are for the origination or purchase of loans and the payment of maturing deposits. Deposits are considered a primary source of funds supporting the Bank&#146;s lending and investment activities.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>The Bank&#146;s most liquid assets are cash and cash equivalents, which are cash on hand, amounts due from financial institutions, federal funds sold, certificates of deposit with other financial institutions that have an original maturity of three months or less and money market mutual funds. The levels of such assets are dependent on the Bank&#146;s operating financing and investment activities at any given time. The variations in levels of cash and cash equivalents are influenced by deposit flows and anticipated future deposit flows. The Bank&#146;s cash and cash equivalents (cash due from banks, interest-bearing deposits in other financial institutions, and federal funds sold), as of June 30, 2004, totaled $12,967,000, an increase of $72,000 (0.56%) from the December 31, 2003 total of $12,895,000.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>As of June 30, 2004, the Bank was permitted to draw on a <B>$</B>36,900,000 line of credit from the FHLB of Atlanta. Borrowings under the line are secured by a floating lien on the Bank&#146;s residential mortgage loans. As of June 30, 2004, a <B>$</B>7.0 million long-term convertible advance was outstanding and a short-term variable rate advance of $6,100,000 was outstanding. In addition the Bank has an unsecured line of credit in the amount of <B>$</B>5.0 million from another commercial bank on which it has not drawn. Furthermore, as of June 30, 2004, the Company had outstanding $5,155,000 of its 10.6% Junior Subordinated Deferrable Interest Debentures issued to Glen Burnie Statutory Trust I, a Connecticut statutory trust subsidiary of the Company.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>The Company&#146;s stockholders&#146; equity decreased $267,000 (1.11%) during the six months ended June 30, 2004, due to a decrease in accumulated other comprehensive (loss) income, partially offset by increases in retained earnings and surplus. The Company&#146;s accumulated other comprehensive (loss) income, net of tax decreased by $1,423,000 (111.09%) from $1,281,000 at December 31, 2003 to ($142,000) at June 30, 2004, as a result of a decrease in unrealized holding gains on available for sale securities. Retained earnings increased by $661,000 (6.53%) as the result of the Company&#146;s earnings for the six months, offset by dividends and a 6 for 5 stock dividend in January 2004. In addition, $99,466 was transferred within stockholders&#146; equity in consideration for shares to be issued under the Company&#146;s dividend reinvestment plan in lieu of cash dividends.</FONT>
</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>The Federal Reserve Board and the FDIC have established guidelines with respect to the maintenance of appropriate levels of capital by bank holding companies and state non-member banks, respectively. The regulations impose two sets of capital adequacy requirements: minimum leverage rules, which require bank holding companies and banks to maintain a specified minimum ratio of capital to total assets, and risk-based capital rules, which require the maintenance of specified minimum ratios of capital to &#147;risk-weighted&#148; assets. At June 30, 2004, the Bank was in full compliance with these guidelines with a Tier 1 leverage ratio of 9.38%, a Tier 1 risk-based capital ratio of 14.49% and a total risk-based capital ratio of 15.74%.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><B>Critical Accounting Policies and Estimates</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>The Company&#146;s accounting policies are more fully described in its Annual Report on Form 10-K for the fiscal year ended December 31, 2003 and are essential to understanding Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations. As discussed there, the preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions about future events that affect the amounts reported in the financial statements and accompanying notes. Since future events and their effects cannot be determined with absolute certainty, the determination of estimates requires the exercise of judgment. Management has used the best information available to make the estimations necessary to value the related assets and liabilities based on historical experience and on various
assumptions which are believed to be reasonable under the circumstances. Actual results could differ from those estimates, and such differences may be material to the financial statements. The Company reevaluates these variables as facts and circumstances change. Historically, actual results have not differed significantly from the Company&#146;s estimates. The following is a summary of the more judgmental accounting estimates and principles involved in the preparation of the Company&#146;s financial statements, including the identification of the variables most important in the estimation process:</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT>
<DIV>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%" align=center border=0>

<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=1>&nbsp;13</FONT></TD>
<TD align=right width="34%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3><FONT size=1>
<HR style="PAGE-BREAK-AFTER: always" noShade SIZE=1>
</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR></TABLE></DIV>
<DIV>&nbsp;</DIV></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><I>Allowance for Credit Losses.</I> The Bank&#146;s allowance for credit losses is determined based upon estimates that can and do change when the actual events occur, including historical losses as an indicator of future losses, fair market value of collateral, and various general or industry or geographic specific economic events.&nbsp; The use of these estimates and values is inherently subjective and the actual losses could be greater or less than the estimates.&nbsp; For further information regarding the Bank&#146;s allowance for credit losses, see &#147;Allowance for Credit Losses&#148;, above.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><I>Accrued Taxes.</I> Management estimates income tax expense based on the amount it expects to owe various tax authorities. Accrued taxes represent the net estimated amount due or to be received from taxing authorities. In estimating accrued taxes, management assesses the relative merits and risks of the appropriate tax treatment of transactions taking into account statutory, judicial and regulatory guidance in the context of the Company&#146;s tax position.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><A name=node11><FONT size=2><B>ITEM 3.</B></FONT></A><FONT size=2>&nbsp;QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Not applicable. </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><B>ITEM 4.</B><FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;</FONT>CONTROLS AND PROCEDURES</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>The Company maintains a system of disclosure controls and procedures that is designed to provide reasonable assurance that information, which is required to be disclosed by the Company in the reports that it files or submits under the Securities and Exchange Act of 1934, as amended, is accumulated and communicated to management in a timely manner. The Company&#146;s Chief Executive Officer and Chief Financial Officer have evaluated this system of disclosure controls and procedures as of the end of the period covered by this quarterly report, and believe that the system is operating effectively to ensure appropriate disclosure. There have been no changes in the Company&#146;s internal control over financial reporting during the most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Company&#146;s internal control over financial
reporting.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT>
<DIV>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%" align=center border=0>

<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=1>&nbsp;14</FONT></TD>
<TD align=right width="34%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3><FONT size=1>
<HR style="PAGE-BREAK-AFTER: always" noShade SIZE=1>
</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR></TABLE></DIV>
<DIV>&nbsp;</DIV></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>PART II - OTHER INFORMATION</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>ITEM 4.</B><FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;</FONT> SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>On May 13, 2004, the Company held its Annual Meeting of Stockholders. The matters submitted to the stockholders for a vote were: (i) the election of four directors; and (ii) the authorization to select an outside auditing firm for the Company&#146;s fiscal year ending December 31, 2004. The nominees submitted for election as directors were F. William Kuethe, Jr., Thomas Clocker, William N. Scherer, Sr. and Karen B. Thorwarth.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>At the Meeting, at least 1,694,858 shares were voted in favor of each nominee, no more than 155,034 shares were voted to withhold approval of any director. As a result, all of the nominees were elected to serve as directors until the next annual meeting of shareholders of the Company and until their successors are duly elected and qualified. Directors not up for re-election and continuing in office after the Meeting are: John E. Demyan, F. W. Kuethe, III, Mary Lou Wilcox, Charles L. Hein, Alan E. Hahn, Shirley E. Boyer, and Charles Lynch, Jr.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>At the Meeting, the Company was authorized to select an outside auditing firm, with 1,847,217 shares voting in favor of the measure, 626 shares voting to withhold authorization, and 2,112 shares abstaining.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><A name=node13><FONT size=2><B>ITEM 6.</B></FONT></A><FONT size=2>&nbsp;EXHIBITS AND REPORTS ON FORM 8-K.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><B>(a)</B><FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp; &nbsp;</FONT><B>Exhibits:</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><U>Exhibit No.</U></FONT><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2></FONT></DIV><FONT size=2><BR>
<DIV valign="bottom"></DIV>
<DIV align=center>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0 valign="top">

<TR bgColor=#bcffb3>
<TD vAlign=top align=justify width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>3.1</FONT></DIV></TD>
<TD vAlign=top align=justify width="92%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Articles of Incorporation (incorporated by reference to Exhibit 3.1 to Amendment No. 1 to the Registrant&#146;s Form 8-A filed December 27, 1999, File No. 0-24047)</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=justify width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>3.2</FONT></DIV></TD>
<TD vAlign=top align=justify width="92%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Articles of Amendment, dated October 8, 2003 (incorporated by reference to Exhibit 3.2 to the Registrant&#146;s Quarterly Report on Form 10-Q for the Quarter ended September 30, 2003, File No. 0-24047)</FONT></DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=justify width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>3.3</FONT></DIV></TD>
<TD vAlign=top align=justify width="92%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Articles Supplementary, dated November 16, 1999 (incorporated by reference to Exhibit 3.3 to the Registrant&#146;s Current Report on Form 8-K filed December 8, 1999, File No. 0-24047) </FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=justify width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>3.4</FONT></DIV></TD>
<TD vAlign=top align=justify width="92%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>By-Laws (incorporated by reference to Exhibit 3.4 to the Registrant&#146;s Quarterly Report on Form 10-Q for the Quarter ended September 30, 2003, File No. 0-24047)</FONT></DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=justify width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>4.1</FONT></DIV></TD>
<TD vAlign=top align=justify width="92%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Rights Agreement, dated as of February 13, 1998, between Glen Burnie Bancorp and The Bank of Glen Burnie, as Rights Agent, as amended and restated as of December 27, 1999 (incorporated by reference to Exhibit 4.1 to Amendment No. 1 to the Registrant&#146;s Form 8-A filed December 27, 1999, File No. 0-24047)</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=justify width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>10.1</FONT></DIV></TD>
<TD vAlign=top align=justify width="92%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Glen Burnie Bancorp Director Stock Purchase Plan (incorporated by reference to Exhibit 99.1 to Post-Effective Amendment No. 1 to the Registrant&#146;s Registration Statement on Form S-8, File No.33-62280)</FONT></DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=justify width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>10.2</FONT></DIV></TD>
<TD vAlign=top align=justify width="92%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>The Bank of Glen Burnie Employee Stock Purchase Plan (incorporated by reference to Exhibit 99.1 to Post-Effective Amendment No. 1 to the Registrant&#146;s Registration Statement on Form S-8, File No. 333-46943)</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=justify width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>10.3</FONT></DIV></TD>
<TD vAlign=top align=justify width="92%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Amended and Restated Change-in-Control Severance Plan (incorporated by reference to Exhibit 3.2 to the Registrant&#146;s Annual Report on Form 10-K for the Fiscal Year Ended December 31, 2001, File No. 0-24047)</FONT></DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=justify width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>10.4</FONT></DIV></TD>
<TD vAlign=top align=justify width="92%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>The Bank of Glen Burnie Executive and Director Deferred Compensation Plan (incorporated by reference to Exhibit 10.4 to the Registrant&#146;s Annual Report on Form 10-K for the Fiscal Year Ended December 31, 1999, File No. 0-24047)</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=justify width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>31.1</FONT></DIV></TD>
<TD vAlign=top align=justify width="92%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Rule 15d-14(a) Certification of Chief Executive Officer</FONT></DIV></TD></TR>
<TR bgColor=#bcffb3>
<TD vAlign=top align=justify width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>31.2</FONT></DIV></TD>
<TD vAlign=top align=justify width="92%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Rule 15d-14(a) Certification of Chief Financial Officer</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=justify width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>32</FONT></DIV></TD>
<TD vAlign=top align=justify width="92%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>Section 1350 Certifications</FONT></DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=top align=justify width="8%" bgcolor="#BCFFB3">
<font size="2">99</font></TD>
<TD vAlign=top align=justify width="92%" bgcolor="#BCFFB3">
<font size="2">Press Release issued July 29, 2004</font></TD></TR></TABLE></DIV></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><B></B></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><B>(b)</B><FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp; &nbsp;</FONT><B>Reports on Form 8-K:</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: -4.5pt" align=justify><FONT size=2>None</FONT></DIV>
<DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2><BR></FONT>
<DIV>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%" align=center border=0>

<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=1>&nbsp;15</FONT></TD>
<TD align=right width="34%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3><FONT size=1>
<HR style="PAGE-BREAK-AFTER: always" noShade SIZE=1>
</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR></TABLE></DIV>
<DIV>&nbsp;</DIV></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=center><FONT size=2><B>SIGNATURES</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>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 thereunto duly authorized.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=justify><FONT size=2>
<TABLE cellSpacing=0 cellPadding=0 width="100%" align=center bgColor=#ffffff border=0>

<TR vAlign=top bgColor=#ffffff>
<TD width="50%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="1%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="49%"><FONT size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=top bgColor=#ffffff>
<TD><FONT size=2>&nbsp;</FONT></TD>
<TD colSpan=2><FONT size=2><STRONG>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><B>GLEN BURNIE BANCORP</B></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2>(Registrant)</FONT></DIV></STRONG></FONT></TD></TR>
<TR vAlign=top bgColor=#ffffff>
<TD><FONT size=2>&nbsp;<BR>&nbsp;</FONT></TD>
<TD><FONT size=2>&nbsp;<BR>&nbsp;</FONT></TD>
<TD><FONT size=2>&nbsp;<BR>&nbsp;</FONT></TD></TR>
<TR vAlign=top bgColor=#ffffff>
<TD><FONT size=2>Date: July 30, 2004</FONT></TD>
<TD><FONT size=2>By:&nbsp;&nbsp;</FONT></TD>
<TD><FONT size=2>/s/&nbsp;F. William Kuethe, Jr.</FONT></TD></TR>
<TR vAlign=top bgColor=#ffffff>
<TD colSpan=2><FONT size=1>&nbsp;</FONT></TD>
<TD>
<HR SIZE=1>
<FONT size=2>F. William Kuethe, Jr.</FONT></TD></TR>
<TR vAlign=top bgColor=#ffffff>
<TD colSpan=2><FONT size=2>&nbsp;</FONT></TD>
<TD><FONT size=2>President, Chief Executive Officer</FONT></TD></TR></TABLE>
<TABLE cellSpacing=0 cellPadding=0 width="100%" align=center bgColor=#ffffff border=0>

<TR>
<TD width="50%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD width="49%">&nbsp;</TD></TR>
<TR vAlign=top bgColor=#ffffff>
<TD width="50%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="1%"><FONT size=2>&nbsp;</FONT></TD>
<TD width="49%"><FONT size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=top bgColor=#ffffff>
<TD><FONT size=2></FONT></TD>
<TD><FONT size=2>By:&nbsp;&nbsp;</FONT></TD>
<TD><FONT size=2>/s/&nbsp;John E. Porter</FONT></TD></TR>
<TR vAlign=top bgColor=#ffffff>
<TD colSpan=2><FONT size=1>&nbsp;</FONT></TD>
<TD>
<HR SIZE=1>
<FONT size=2>John E. Porter</FONT></TD></TR>
<TR vAlign=top bgColor=#ffffff>
<TD colSpan=2><FONT size=2>&nbsp;</FONT></TD>
<TD><FONT size=2>Chief Financial Officer</FONT></TD></TR></TABLE><BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 252pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;</FONT></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 252pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><FONT style="LETTER-SPACING: 9pt"></FONT></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 252pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><FONT style="LETTER-SPACING: 9pt"></FONT></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align=left><FONT size=2><FONT style="LETTER-SPACING: 9pt">&nbsp;&nbsp;</FONT>
<DIV>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%" align=center border=0>

<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=1>&nbsp;16</FONT></TD>
<TD align=right width="34%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3><FONT size=1>
<HR style="PAGE-BREAK-AFTER: always" noShade SIZE=1>
</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR></TABLE></DIV>
<DIV>&nbsp;</DIV>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT></FONT><FONT size=2><FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB1 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT></FONT></DIV></BODY></HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>2
<FILENAME>ex31_1.txt
<TEXT>
                                                                    EXHIBIT 31.1

                                  CERTIFICATION

      I, F. William Kuethe, Jr., certify that:

      1. I have reviewed this Quarterly Report on Form 10-Q of Glen Burnie
Bancorp;

      2. Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

      3. Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the Registrant as
of, and for, the periods presented in this report;

      4. The Registrant's other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Registrant and have:

      (a)   Designed such disclosure controls and procedures, or caused such
            disclosure controls and procedures to be designed under our
            supervision, to ensure that material information relating to the
            Registrant, including its consolidated subsidiaries, is made known
            to us by others within those entities, particularly during the
            period in which this report is being prepared;

      (b)   Evaluated the effectiveness of the Registrant's disclosure controls
            and procedures and presented in this report our conclusions about
            the effectiveness of the disclosure controls and procedures, as of
            the end of the period covered by this report based on such
            evaluation; and

      (c)   Disclosed in this report any change in the Registrant's internal
            control over financial reporting that occurred during the
            Registrant's most recent fiscal quarter (the Registrant's fourth
            fiscal quarter in the case of an annual report) that has materially
            affected, or is reasonably likely to materially affect, the
            Registrant's internal control over financial reporting; and

      5. The Registrant's other certifying officer and I have disclosed, based
on our most recent evaluation of internal control over financial reporting, to
the Registrant's auditors and the audit committee of Registrant's board of
directors (or persons performing the equivalent function):

      (a)   All significant deficiencies and material weaknesses in the design
            or operation of internal control over financial reporting which are
            reasonably likely to adversely affect the Registrant's ability to
            record, process, summarize and report financial information; and

      (b)   Any fraud, whether or not material, that involves management or
            other employees who have a significant role in the Registrant's
            internal control over financial reporting.

Date: July 30, 2004                         /s/ F. William Kuethe, Jr.
                                            ---------------------------------
                                            F. William Kuethe, Jr.
                                            Chief Executive Officer



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>3
<FILENAME>ex31_2.txt
<TEXT>
<PAGE>

                                                                    EXHIBIT 31.2

                                  CERTIFICATION

      I, John E. Porter, certify that:

      1. I have reviewed this Quarterly Report on Form 10-Q of Glen Burnie
Bancorp;

      2. Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

      3. Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the Registrant as
of, and for, the periods presented in this report;

      4. The Registrant's other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Registrant and have:

      (a)   Designed such disclosure controls and procedures, or caused such
            disclosure controls and procedures to be designed under our
            supervision, to ensure that material information relating to the
            Registrant, including its consolidated subsidiaries, is made known
            to us by others within those entities, particularly during the
            period in which this report is being prepared;

      (b)   Evaluated the effectiveness of the Registrant's disclosure controls
            and procedures and presented in this report our conclusions about
            the effectiveness of the disclosure controls and procedures, as of
            the end of the period covered by this report based on such
            evaluation; and

      (c)   Disclosed in this report any change in the Registrant's internal
            control over financial reporting that occurred during the
            Registrant's most recent fiscal quarter (the Registrant's fourth
            fiscal quarter in the case of an annual report) that has materially
            affected, or is reasonably likely to materially affect, the
            Registrant's internal control over financial reporting; and

      5. The Registrant's other certifying officer and I have disclosed, based
on our most recent evaluation of internal control over financial reporting, to
the Registrant's auditors and the audit committee of Registrant's board of
directors (or persons performing the equivalent function):

      (a)   All significant deficiencies and material weaknesses in the design
            or operation of internal control over financial reporting which are
            reasonably likely to adversely affect the Registrant's ability to
            record, process, summarize and report financial information; and

      (b)   Any fraud, whether or not material, that involves management or
            other employees who have a significant role in the Registrant's
            internal control over financial reporting.


Date: July 30, 2004                     /s/ John E. Porter
                                        ----------------------------
                                        John E. Porter
                                        Chief Financial Officer




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>4
<FILENAME>ex32_1.txt
<TEXT>
                                                                    Exhibit 32.1

                           SECTION 1350 CERTIFICATIONS

      In connection with the Quarterly Report of Glen Burnie Bancorp (the
"Company") on Form 10-Q for the period ending June 30, 2004 as filed with the
Securities and Exchange Commission and to which this Certification is an exhibit
(the "Report"), the undersigned hereby certify, pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002, that:

      (1)   The Report fully complies with the requirements of section 13(a) or
            15(d) of the Securities Exchange Act of 1934; and

      (2)   The information contained in the Report fairly presents, in all
            material respects, the financial condition and result of operations
            of the Company for the periods reflected therein.



Date: July 30, 2004                     /s/ F. William Kuethe, Jr.
                                        -------------------------------------
                                        F. William Kuethe, Jr.
                                        President, Chief Executive Officer


                                        /s/ John E. Porter
                                        ------------------------------------
                                        John E. Porter
                                        Chief Financial Officer



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>5
<FILENAME>ex99.txt
<TEXT>
<PAGE>



                                                                      Exhibit 99


FOR IMMEDIATE RELEASE                                      CONTACT: Alison Tavik
- --------------------------------------------------------------------------------
                                                       410-768-88578857 (office)
                                                       410-608-5581 (cell)
                                                       adtavik@bogb.net


                    GLEN BURNIE BANCORP RELEASES 2Q EARNINGS


Highlights

      o     4.47% increase in net interest income

      o     5.37% increase in other income

      o     4.17% increase in year to date net income

      o     2.93% increase in year to date deposits

      o     3.92% increase in year to date net loans


GLEN BURNIE, MD (July 29, 2004) - Glen Burnie Bancorp (NASDAQ: GLBZ), parent
company of The Bank of Glen Burnie, today announced results for the second
quarter.

"Deposits are growing, we continue to see growth in our loan portfolio and the
net interest margin is strong," said President & Chief Executive Officer F.
William Kuethe, Jr. "Overall, we are pleased with our pre-tax quarterly income
position for the quarter."

For the three month period ending June 30, 2004, net interest income increased
to $2,922,000 (+4.47%). The company reported net interest income of $2,797,000
for the same period in 2003. Year to date net interest income rose to $5,865,000
(+7.32%) as compared to $5,465,000 in 2003. Deposits year to date have increased
to $264,446,000 (+2.93%) and net loans increased to $179,591,000 (+2.92%) since
December 31, 2003.

The company realized net income of $706,000 (-3.68%) or $.35 (-2.77%) basic
earnings per share in the quarter ended June 30, 2004. The company reported net
income of $733,000 or $.36 basic earnings per share for the same three-month
period in 2003. Year to date net income for the six months ended June 30, 2004
was $1,447,000 (+4.17%) or $.71 (+2.90%) basic earnings per share as compared to
$1,389,000 or $.69 basic earnings per share for the same period in 2003.

Other income rose to $530,000 (+5.37%) with gains on investments for the period
ending June 30, 2004 increasing to $39,000 (+160%) from $15,000 in 2003. The six
month year to date total for other income increased to $1,223,000 (+15%) in 2004
as compared to $1,063,000 for the same period in 2003. Gains on investments rose
from $107,000 in 2003 to $269,000 (+151%) in 2004.

The July 1, 2004 issue of American Banker ranked The Bank of Glen Burnie 42nd in
the country for largest portfolios of loans to individuals (as of March 31,
2004). The ranking listed the top 150 community banks nationwide with assets
under $1 Billion.

"We are really pleased to be placed in the top third of this ranking," said The
Bank of Glen Burnie's Chief Operating Officer Michael G. Livingston. "I think it
demonstrates our commitment to meeting the lending needs of our community."

On July 9, 2004 Glen Burnie Bancorp paid its 47th consecutive dividend to
shareholders of record at the close of business on June 24, 2004. Glen Burnie
Bancorp was recently ranked 96th among the top 200 publicly traded community
banks. The ranking appeared in the July issue of USBanker magazine. The ranking
was based on a 3-year average return on equity (ROE) of 12.40%.


<PAGE>

Glen Burnie Bancorp, parent company to The Bank of Glen Burnie,
(www.thebankofglenburnie.com) maintains assets totaling approximately $300
million. The Bank of Glen Burnie is a locally-owned community bank with seven
branches serving Anne Arundel County.

                                     # # # #

Certain information contained in this news release, which does not relate to
historical financial information, may be deemed to constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995. Such statements are subject to certain risks and uncertainties, which
could cause the company's actual results in the future to differ materially from
its historical results and those presently anticipated or projected. For a more
complete discussion of these and other risk factors, please see the company's
reports filed with the Securities and Exchange Commission.



<PAGE>

                      Glen Burnie Bancorp and Subsidiaries
                      Condensed Consolidated Balance Sheet
                (dollars in thousands, except per share amounts)

<TABLE>
<CAPTION>
                                                                                 (unaudited)
                                                                             June        December
                                                                           30, 2004      31, 2003
                                                                         ------------- --------------
                                                    Assets

<S>                                                                           <C>            <C>
     Cash and due from banks                                                  $11,037        $11,120
     Interest bearing deposits                                                     54             57
     Federal funds sold                                                         1,876          1,718
     Investment securities                                                    102,472        103,181
     Common Stock in the Glen Burnie Statutory Trust I                            155            155
     Loans, net of allowance                                                  179,591        172,819
     Premises and equipment at cost, net of accumulated depreciation            3,994          4,220
     Other real estate owned                                                      168            172
     Other assets                                                               8,968          8,810
     ------------------------------------------------------------------- ------------- --------------
               Total assets                                                  $308,315       $302,252
     =================================================================== ============= ==============

                              Liabilities and Stockholders' Equity

               Liabilities:
     Deposits                                                                $264,446       $256,908
     Short-term borrowings                                                      6,465          6,602
     Long-term borrowings                                                       7,213          7,227
     Guaranteed preferred beneficial interests in Glen Burnie
        Bancorp junior subordinated debentures                                  5,155          5,155
     Other liabilities                                                          1,356          2,413
     ------------------------------------------------------------------- ------------- --------------
               Total liabilities                                             $284,635       $278,305
     ------------------------------------------------------------------- ------------- --------------

               Stockholders' equity:
     Common stock, par value $1, authorized 15,000,000 shares; issued and
          outstanding June 30, 2004 2,032,803;
          December 31, 2003   1,689,281 shares                                 $2,033         $1,689
     Surplus                                                                   11,013         10,862
     Retained earnings                                                         10,776         10,115
     Accumulated other comprehensive income (loss), net of tax                  (142)          1,281

     ------------------------------------------------------------------- ------------- --------------
               Total stockholders' equity                                     $23,680        $23,947
     ------------------------------------------------------------------- ------------- --------------

               Total liabilities and stockholders' equity                    $308,315       $302,252
     =================================================================== ============= ==============
</TABLE>


<PAGE>

                      Glen Burnie Bancorp and Subsidiaries
                   Condensed Consolidated Statements of Income
                (dollars in thousands, except per share amounts)

<TABLE>
<CAPTION>
                                                                     Three Months Ended June 30,        Six Months Ended June 30,
                                                                  ---------------- ---------------- -------------- ----------------
                                                                       2004             2003            2004            2003
                                                                  ---------------- ---------------- -------------- ----------------
Interest income on
<S>                                                                        <C>              <C>            <C>              <C>
   Loans, including fees                                                   $2,709           $2,830         $5,450           $5,649
   U.S. Treasury and U.S. Government agency securities                        535              526          1,090            1,013
   State and municipal securities                                             451              435            916              810
   Other                                                                      112              118            232              249
- ----------------------------------------------------------------- ---------------- ---------------- -------------- ----------------
          Total interest income                                             3,807            3,909          7,688            7,721
- ----------------------------------------------------------------- ---------------- ---------------- -------------- ----------------

Interest expense on
   Deposits                                                                   639              864          1,308            1,763
   Junior subordinated debentures                                             137              137            273              273
   Long-term borrowings                                                       107              110            215              218
   Short-term borrowings                                                        2                1             27                2
- ----------------------------------------------------------------- ---------------- ---------------- -------------- ----------------
          Total interest expense                                              885            1,112          1,823            2,256
- ----------------------------------------------------------------- ---------------- ---------------- -------------- ----------------

          Net interest income                                               2,922            2,797          5,865            5,465

Provision for credit losses                                                    60                0            200                0
- ----------------------------------------------------------------- ---------------- ---------------- -------------- ----------------
          Net interest income after provision for credit losses             2,862            2,797          5,665            5,465
- ----------------------------------------------------------------- ---------------- ---------------- -------------- ----------------

Other income
   Service charges on deposit accounts                                        258              249            516              507
   Other fees and commissions                                                 181              168            332              311
   Other non-interest income                                                    1                3              4                5
   Income on life insurance                                                    51               68            102              133
   Gains on investment securities                                              39               15            269              107
- ----------------------------------------------------------------- ---------------- ---------------- -------------- ----------------
          Total other income                                                  530              503          1,223            1,063
- ----------------------------------------------------------------- ---------------- ---------------- -------------- ----------------

Other expenses
   Salaries and employee benefits                                           1,517            1,483          3,031            2,948
   Occupancy                                                                  165              164            339              376
   Other expenses                                                             827              798          1,723            1,596
- ----------------------------------------------------------------- ---------------- ---------------- -------------- ----------------
          Total other expenses                                              2,509            2,445          5,093            4,920
- ----------------------------------------------------------------- ---------------- ---------------- -------------- ----------------
Income before income taxes                                                    883              855          1,795            1,608

Income tax expense (benefit)                                                  177              122            348              219
- ----------------------------------------------------------------- ---------------- ---------------- -------------- ----------------
Net income                                                                   $706             $733         $1,447           $1,389
================================================================= ================ ================ ============== ================

Net income per share of common stock                                        $0.35            $0.36          $0.71            $0.69
================================================================= ================ ================ ============== ================

Weighted-average shares of common stock outstanding                     2,030,640        2,017,537      2,029,043        2,016,073
================================================================= ================ ================ ============== ================
</TABLE>


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
