**EXHIBIT 13.0**

 

**Selected Consolidated Financial and Other Data of the Company**

The selected consolidated financial and other data of the Company setforth below is derived from, and should be read in conjunction with, theConsolidated Financial Statements of the Company and Notes thereto presentedelsewhere in the Annual Report.

 
| **At December 31,**                                                       | ** ** | **2004**            | ** ** | **2003** | ** ** | **2002** | ** ** | **2001** | ** ** | **2000** | ** ** |
|---------------------------------------------------------------------------|------------|---------------------|------------|----------|------------|----------|------------|----------|------------|----------|------------|
| ** **                                                                | ** ** | **(in thousands)**  | ** ** |
| Selected Consolidated Financial Data:                                     |       |                |       |     |       |     |       |     |       |     |       |
| Total assets                                                              |       | 1,003,915           |       | 897,093  |       | 782,376  |       | 673,443  |       | 583,201  |       |
| Loans receivable, net                                                     |       | 807,834             |       | 716,884  |       | 597,049  |       | 537,071  |       | 459,795  |       |
| Investment securities available-for-sale                                  |       | 92,847              |       | 90,656   |       | 87,982   |       | 68,615   |       | 64,071   |       |
| Mortgage-backed securities  available-for-sale                            |       | 9,977               |       | 10,165   |       | 15,256   |       | 13,856   |       | 9,454    |       |
| Deposits                                                                  |       | 671,036             |       | 596,764  |       | 524,190  |       | 420,084  |       | 369,533  |       |
| FHLB advances                                                             |       | 237,000             |       | 204,700  |       | 171,700  |       | 175,200  |       | 140,200  |       |
| Total equity                                                              |       | 85,535              |       | 78,404   |       | 74,777   |       | 68,629   |       | 67,285   |       |
| Non-performing loans (6)                                                  |       | 2,930               |       | 2,767    |       | 2,396    |       | 2,580    |       | 4,532    |       |
| Foreclosed real estate                                                    |       | —              |       | —   |       | 1,986    |       | —   |       | 540      |       |
| Non-performing assets (7)                                                 |       | 2,930               |       | 2,767    |       | 4,382    |       | 2,580    |       | 5,072    |       |
| Allowance for loan losses                                                 |       | 4,496               |       | 3,755    |       | 3,141    |       | 2,255    |       | 1,881    |       |
|                                                                      |       |                |       |     |       |     |       |     |       |     |       |
| **For the Year Ended December 31,**                                       | ** ** | **2004**            | ** ** | **2003** | ** ** | **2002** | ** ** | **2001** | ** ** | **2000** | ** ** |
| ** **                                                                | ** ** | **(in  thousands)** | ** ** |
| Selected Operating Data:                                                  |       |                |       |     |       |     |       |     |       |     |       |
| Interest income                                                           |       | 46,954              |       | 45,750   |       | 45,018   |       | 43,841   |       | 39,814   |       |
| Interest expense                                                          |       | 23,003              |       | 21,543   |       | 22,821   |       | 25,433   |       | 23,401   |       |
| Net interest income                                                       |       | 23,951              |       | 24,207   |       | 22,197   |       | 18,408   |       | 16,413   |       |
| Provision for loan losses                                                 |       | 760                 |       | 613      |       | 900      |       | 500      |       | 363      |       |
| Net interest income after provision for  loan losses                      |       | 23,191              |       | 23,594   |       | 21,297   |       | 17,908   |       | 16,050   |       |
| Noninterest income                                                        |       | 5,979               |       | 5,736    |       | 4,320    |       | 1,820    |       | 1,330    |       |
| Noninterest expenses                                                      |       | 20,070              |       | 18,610   |       | 16,646   |       | 12,585   |       | 11,388   |       |
| Income before income tax expense                                          |       | 9,100               |       | 10,720   |       | 8,971    |       | 7,143    |       | 5,992    |       |
| Income tax expense                                                        |       | 2,278               |       | 3,619    |       | 2,882    |       | 2,508    |       | 2,130    |       |
| Income before minority interest                                           |       | 6,822               |       | 7,101    |       | 6,089    |       | 4,635    |       | 3,862    |       |
| Minority interest                                                         |       | —              |       | (84      | )          | (58      | )          | —   |       | —   |       |
| Net income                                                                |       | 6,822               |       | 7,185    |       | 6,147    |       | 4,635    |       | 3,862    |       |
|                                                                      |       |                |       |     |       |     |       |     |       |     |       |
| **For the Year Ended Decemebr 31,**                                       | ** ** | **2004**            | ** ** | **2003** | ** ** | **2002** | ** ** | **2001** | ** ** | **2000** | ** ** |
| Selected Financial Ratios and Other Data  (1)                             |       |                |       |     |       |     |       |     |       |     |       |
| Performance  Ratios:                                                      |       |                |       |     |       |     |       |     |       |     |       |
| Return on average assets                                                  |       | 0.71                | %          | 0.84     | %          | 0.84     | %          | 0.73     | %          | 0.69     | %          |
| Return on average equity                                                  |       | 8.36                |       | 9.40     |       | 8.52     |       | 6.82     |       | 5.89     |       |
| Average equity to average assets                                          |       | 8.49                |       | 8.98     |       | 9.85     |       | 10.73    |       | 11.79    |       |
| Equity to total assets at end of period                                   |       | 8.52                |       | 8.74     |       | 9.56     |       | 10.19    |       | 11.54    |       |
| Net interest rate spread (2)                                              |       | 2.46                |       | 2.81     |       | 2.91     |       | 2.42     |       | 2.38     |       |
| Net interest margin (3)                                                   |       | 2.73                |       | 3.11     |       | 3.31     |       | 3.05     |       | 3.07     |       |
| Average interest earning assets to average  interest bearing liabilities  |       | 110.55              |       | 111.63   |       | 112.20   |       | 115.10   |       | 115.77   |       |
| Noninterest expense to average assets                                     |       | 2.09                |       | 2.19     |       | 2.27     |       | 1.99     |       | 2.05     |       |
| Efficiency ratio (4)                                                      |       | 67.06               |       | 62.15    |       | 62.77    |       | 62.22    |       | 64.18    |       |
| Bank Regulatory Capital Ratios (5):                                       |       |                |       |     |       |     |       |     |       |     |       |
| Leverage Capital                                                          |       | 7.88                |       | 8.27     |       | 8.92     |       | 9.53     |       | 10.50    |       |
| Total risk based capital                                                  |       | 11.52               |       | 12.19    |       | 13.41    |       | 14.58    |       | 16.88    |       |
| Asset Quality Ratios:                                                     |       |                |       |     |       |     |       |     |       |     |       |
| Non-performing loans as a percent of loans  (6)(8)                        |       | 0.36                |       | 0.39     |       | 0.40     |       | 0.48     |       | 0.99     |       |
| Non-performing assets as a percent of total  assets (7)                   |       | 0.29                |       | 0.31     |       | 0.56     |       | 0.38     |       | 0.87     |       |
| Allowance for loan losses as a percent of  loans (8)                      |       | 0.56                |       | 0.52     |       | 0.53     |       | 0.42     |       | 0.41     |       |
| Allowance for loan losses as a percent of  total non-performing loans (6) |       | 153.45              |       | 135.71   |       | 131.09   |       | 87.40    |       | 41.51    |       |
| Other Data:                                                               |       |                |       |     |       |     |       |     |       |     |       |
| Number of customer facilities                                             |       | 9                   |       | 8        |       | 8        |       | 7        |       | 7        |       |

 

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(1)          Asset Quality Ratios and Regulatory Capital Ratios are end of periodratios. With the exception of end of period ratios, all ratios are based onaverage monthly balances during the indicated periods.

(2)          The net interest rate spread represents the difference between theweighted average yield on average interest-earning assets and the weightedaverage cost of average interest-bearing liabilities.  This spread is reported on a tax equivalentbasis.

(3)          The net interest margin represents netinterest income as a percent of average interest-earning assets.  The net interest margin is reported on a taxequivalent basis.

(4)          The efficiency ratio represents the ratio of noninterest expensedivided by the sum of net interest income before provision for loan losses andnoninterest income.

(5)          For definitions and further informationrelating to the Bank’s regulatory capital requirements, see Item 1, “Business”in the accompanying Form 10-K.

(6)          Non-performing loans consist of all non-accrual loans and all otherloans 90 days or more past due. It is the Bank’s policy to generally ceaseaccruing interest on all loans 90 days or more past due. See, Item 1, “Business”in the accompanying Form 10-K.

(7)          Non-performing assets consist ofnon-performing loans and real estate owned, net. 

(8)          Loans represent loans receivable net,excluding the allowance for loan losses.

 

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