| x | Quarterly report under section 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2011  |
|---|--------------------------------------------------------------------------------------------------------------------------------------------|
| o | TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT For the transition period from ______ to ______                       |

| Florida(State or Other Jurisdiction ofIncorporation or Organization) | 65-0840545(IRS EmployerIdentification No.) |
|----------------------------------------------------------------------|--------------------------------------------|

| Large Accelerated Filer o | Accelerated Filer o         |
|---------------------------|-----------------------------|
| Non-Accelerated Filer o   | Smaller reporting company o |

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| Part I. Financial Information                                                                                       |                                                                                         |   |
|---------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------|--------|
|                                                                                                                |                                                                                         |   |   |
| Item 1.                                                                                                             | Financial Statements (unaudited)                                                             |   |   |
|                                                                                                                |                                                                                         |   |   |
| Consolidated Balance Sheets as of March 31, 2011 and December 31, 2010                                              |                                                                                         | 3      |
|                                                                                                                |                                                                                         |   |   |
| Consolidated Statements of Income for the Three Months Ended March 31, 2011 and 2010                                |                                                                                         | 4      |
|                                                                                                                |                                                                                         |   |   |
| Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2011 and 2010                            |                                                                                         | 5      |
|                                                                                                                |                                                                                         |   |   |
| Consolidated Statements of Changes in Shareholders’ Equity for the Three Months Ended March 31, 2011 and 2010 |                                                                                         | 6      |
|                                                                                                                |                                                                                         |   |   |
| Notes to Consolidated Financial Statements                                                                          |                                                                                         | 7      |
|                                                                                                                |                                                                                         |   |   |
| Item 2.                                                                                                             | Management’s Discussion and Analysis of Financial Conditions and Results of Operations |   | 12 |
|                                                                                                                |                                                                                         |   |   |
| Item 3.                                                                                                             | Quantitative and Qualitative Disclosures About Market Risk                                   |   | 14 |
|                                                                                                                |                                                                                         |   |   |
| Item 4T.                                                                                                            | Controls and Procedures                                                                      |   | 14 |
|                                                                                                                |                                                                                         |   |   |
| Part II.                                                                                                            | Other Information                                                                            |   |   |
|                                                                                                                |                                                                                         |   |   |
| Item 1.                                                                                                             | Legal Proceedings                                                                            |   | 16 |
|                                                                                                                |                                                                                         |   |   |
| Item 1A.                                                                                                            | Risk Factors                                                                                 |   | 16 |
|                                                                                                                |                                                                                         |   |   |
| Item 2.                                                                                                             | Unregistered Sales of Equity Securities and Use of Proceeds                                  |   | 16 |
|                                                                                                                |                                                                                         |   |   |
| Item 3.                                                                                                             | Defaults Upon Senior Securities                                                              |   | 16 |
|                                                                                                                |                                                                                         |   |   |
| Item 4.                                                                                                             | Submission of Matters to a Vote of Security Holders                                          |   | 16 |
|                                                                                                                |                                                                                         |   |   |
| Item 5.                                                                                                             | Other Information                                                                            |   | 16 |
|                                                                                                                |                                                                                         |   |   |
| Item 6.                                                                                                             | Exhibits                                                                                     |   | 16 |

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|                                                                                                                                                                  |   | March 31,2011 |         |   | December 31,2010 |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------|--------------|--------|------------------|--------|
| Cash and due from banks                                                                                                                                               |   | $             | 8,399        |   |             | $      | 13,440 |   |
|                                                                                                                                                                  |   |          |         |   |             |   |   |   |
| Property and equipment, net                                                                                                                                           |   |          | 1,240,208    |   |             |   | 1,247,180 |   |
| Assets of discontinued operations                                                                                                                                     |   |          | -----0-----  |   |             |   | -----0----- |   |
| Other assets                                                                                                                                                          |   |          | 3,000        |   |             |   | 3,000 |   |
| Total Assets                                                                                                                                                          |   | $             | 1,251,607    |   |             | $      | 1,263,620 |   |
| LIABILITIES & SHAREHOLDERS’ EQUITY                                                                                                                          |   |          |         |   |             |   |   |   |
| Liabilities:                                                                                                                                                          |   |          |         |   |             |   |   |   |
| Liabilities of discontinued operations                                                                                                                                |   |          | ------0----- |   |             |   | ------0----- |   |
| Note payable                                                                                                                                                          |   |          | 991,127      |   |             |   | 981,782 |   |
| Other liabilities                                                                                                                                                     |   |          | 91,000       |   |             |   | 91,000 |   |
| Total Liabilities                                                                                                                                                     |   | $             | 1,082.127    |   |             | $      | 1,072,782 |   |
| Shareholders’ Equity:                                                                                                                                           |   |          |         |   |             |   |   |   |
| Preferred stock, $.01 par value, 1.0 million shares authorized; zero shares issued and outstanding                                                               |   | $             | —      |   |             | $      | — |   |
| Treasury Stock: 39,773 shares                                                                                                                                         |   |          | (479,393     | )      |             |   | (479,393 | ) |
| Common stock, $.01 par value,  25,000,000 shares authorized;  1,809,912 issued and 1,770,139 outstanding at March 31, 2011 and December 31, 2010. |   |          | 18,099       |   |             |   | 18,099 |   |
| Paid-in-capital                                                                                                                                                       |   |          | 10,428,214   |   |             |   | 10,428,214 |   |
| Retained (deficit)                                                                                                                                                    |   |          | (9,797,440   | )      |             |   | (9,776,082 | ) |
|  Accumulated other comprehensive income/(loss), net of tax                                                                                                       |   |          | -----0-----  |   |             |   | -----0----- |   |
| Total Shareholders’ Equity                                                                                                                                      |   | $             | 169,480      |   |             | $      | 190,838 |   |
| Total Liabilities and Shareholders’ Equity                                                                                                                      |   | $             | 1,251,607    |   |             | $      | 1,263,620 |   |

----

|                                                             |   | Three Months Ended March 31, |          |
|------------------------------------------------------------------|--------|-----------------------------------|---------------|
|                                                             |   | 2011                              |          |   | 2010 |   |
| Operating Income                                                 |   |                              |          |   |   |   |
| Gain on sale of asset                                            |   |                              | -------0----- |   |   |   | ------0------ |   |
| Other miscellaneous income                                       |   |                              | 64            |   |   |   | ------0------ |   |
| Total operating income                                           |   | $                                 | 64            |   |   | $ | ------0------ |   |
| Operating Expenses                                               |   |                              |          |   |   |   |   |   |
| Interest expense on note                                         |   |                              | 9,346         |   |   |   | 15,093 |   |
| Other operating expenses                                         |   |                              | 12,077        |   |   |   | 5,347 |   |
| Total operating expenses                                         |   | $                                 | 21,423        |   |   | $ | 20,440 |   |
| LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAX PROVISION |   | $                                 | (21,359       | ) |   | $ | (20,440 | ) |
| Income tax provision/(benefit)                                   |   |                              | -----0-----   |   |   |   | (6,950 | ) |
| LOSS FROM CONTINUING OPERATIONS                                  |   | $                                 | (21,359       | ) |   | $ | (13,490 | ) |
| DISCONTINUED OPERATIONS                                          |   |                              |          |   |   |   |   |   |
| Loss from discontinued operations                                |   |                              | -----0------  |   |   |   | (2,715,420 | ) |
| Income tax provision/(benefit)                                   |   |                              | -----0------  |   |   |   | (870,679 | ) |
| LOSS ON DISCONTINUED OPERATIONS                                  |   |                              | -----0------  |   |   |   | (1,844,741 | ) |
|                                                             |   |                              |          |   |   |   |   |   |
| NET LOSS                                                         |   | $                                 | (21,359       | ) |   | $ | ( 1,858,231 | ) |
| Net (loss) per common share: basic and diluted, from:            |   |                              |          |   |   |   |   |   |
| Continuing operations                                            |   | $                                 | (.01          | ) |   | $ | (.01 | ) |
| Discontinued operations                                          |   |                              | (0.00         | ) |   |   | (1.05 | ) |
| NET LOSS PER BASIC AND DILUTED SHARE                             |   | $                                 | (0.01         | ) |   | $ | (1.06 | ) |
| Weighted average number of shares outstanding:                   |   |                              |          |   |   |   |   |   |
| Basic and Diluted                                                |   |                              | 1,770,139     |   |   |   | 1,770,139 |   |

----

|                                           |   | Three Months ended March 31 |       |
|------------------------------------------------|--------|----------------------------------|------------|
|                                           |   | 2011                             |       |   | 2010 |   |
| Cash flow from operating activities:           |   |                             |       |   |   |   |
| Net cash from operating activities             |   | $                                | (14,387    | ) |   | $ | 44,985 |   |
|                                           |   |                             |       |   |   |   |   |   |
| Cash flow from investing activities:           |   |                             |       |   |   |   |   |   |
| Decrease in property and equipment             |   | $                                | -----0---- |   |   | $ | -----0---- |   |
| Net cash from investing activities             |   | $                                | -----0---- |   |   | $ | ----0---- |   |
|                                           |   |                             |       |   |   |   |   |   |
| Cash flow from financing activities:           |   |                             |       |   |   |   |   |   |
| Increase/(Decrease) in note payable            |   | $                                | 9,346      |   |   | $ | (40,000 | )  |
|                                           |   |                             |       |   |   |   |   |   |
| Net cash from financing activities             |   | $                                | 9,346      |   |   | $ | (40,000 | ) |
|                                           |   |                             |       |   |   |   |   |   |
| Net change in cash and cash equivalents        |   | $                                | (5,041     | )  |   | $ | 4,985 |   |
| Cash and cash equivalents, beginning of period |   |                             | 13,440     |   |   |   | 376 |   |
| Cash and cash equivalents, end of period       |   | $                                | 8,399      |   |   | $ | 5,361 |   |

----

|                                                                                                      |   |         |      |   |      |   |   |    |   |   |     |   |   |          |       |   | Accumulated |   |       |   |   |
|-----------------------------------------------------------------------------------------------------------|--------|--------------|-----------|--------|-----------|--------|--------|---------|--------|--------|----------|--------|--------|---------------|------------|--------|-------------|--------|------------|--------|--------|
|                                                                                                      |   |         |      |   |      |   |   |    |   |   |     |   |   |          |       |   | Other       |   |       |   |   |
|                                                                                                      |   | Common Stock |      |   | Treasury  |   |   | Paid in |   |   | Retained |   |   | Comprehensive |       |   |        |   |
|                                                                                                      |   | Shares       |      |   | Par Value |   |   | Stock   |   |   | Capital  |   |   | Earnings      |       |   | Income      |   |       | Total  |   |
| Balance December 31 , 2009                                                                                |   |         | 1,770,139 |   |      | $      | 18,099 |    |   | $      | (479,393 | )      |   | $             | 10,428,214 |   |        | $      | (4,006,176 | )      |   | $ | (293,583 | ) |   | $ | 5,667,161 |   |
| Comprehensive Income:                                                                                     |   |         |      |   |      |   |   |    |   |   |     |   |   |          |       |   |        |   |       |   |   |   |   |   |   |   |   |   |
| Net income/(loss), three month period ended March  31, 2010                                     |   |         |      |   |      |   |   |    |   |   |     |   |   |          |       |   |        | $      | (1,858,231 | )      |   |   |   |   |   | $ | (1,858,231 | ) |
| Net unrealized income on securities from discontinued operations, three-month period ended March 31, 2010 |   |         |      |   |      |   |   |    |   |   |     |   |   |          |       |   |        |   |       |   |   |   | 87,674 |   |   | $ | 87,674 |   |
| Total comprehensive income/(loss),net of tax                                                              |   |         |      |   |      |   |   |    |   |   |     |   |   |          |       |   |        |   |       |   |   |   |   |   |   |   | (1,770,557 | ) |
| Balance March 31,2010                                                                                     |   |         | 1,770,139 |   |      | $      | 18,099 |    |   | $      | (479,393 | )      |   | $             | 10,428,214 |   |        | $      | (5,864,407 | )      |   | $ | (205,909 | ) |   | $ | 3,896,604 |   |
| Balance December 31 , 2010                                                                                |   |         | 1,770,139 |   |      | $      | 18,099 |    |   | $      | (479,393 | )      |   | $             | 10,428,214 |   |        | $      | (9,776,082 | )      |   |   | ----0---- |   |   | $ | 190,838 |   |
| Net income/(loss), three-month period ended March 31, 2011                                                |   |         |      |   |      |   |   |    |   |   |     |   |   |          |       |   |        |   | (21,359    | )      |   |   |   |   |   | $ | (21,359 | ) |
| Balance March 31 , 2011                                                                                   |   |         | 1,770,139 |   |      | $      | 18,099 |    |   | $      | (479,393 | )      |   | $             | 10,428,214 |   |        | $      | (9,797,440 | )      |   |   | -----0----- |   |   | $ | 169,480 |   |

----

----

| Interest income                                     |   | $      | 2,565,917  |   |
|-----------------------------------------------------|--------|--------|------------|--------|
| Interest expense                                    |   |   | 1,047,427  |   |
| Net interest income                                 |   |   | 1,518,490  |   |
| Provision for possible loan losses                  |   |   | 2,697,973  |   |
| Net interest income after provision for loan losses |   |   | (1,179,483 | )      |
| Non-interest income                                 |   |   | 15,838     |   |
| Non-interest expense                                |   |   | (1,551,775 | )      |
| Loss before income tax                              |   |   | (2,715,420 | )      |
| Income tax (benefit)                                |   |   | (870,679   | )      |
| Net (loss)                                          |   | $      | (1,844,741 | )      |

| ·   | Submit a written plan to strengthen Board oversight of the management and operations of the Bank. |
|--------------------|---------------------------------------------------------------------------------------------------|

----

| ·   | Submit a written plan to strengthen the Bank’s management of commercial real estate concentrations, including steps to reduce the risk of concentrations. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Submit a written plan to strengthen credit risk management practices. |
|--------------------|-----------------------------------------------------------------------|

| ·   | Submit a written plan to strengthen lending and credit administration policies, procedures, and practices. |
|--------------------|------------------------------------------------------------------------------------------------------------|

| ·   | Retain an independent and acceptable (to FRB, OFR) consultant to assess the level of risk or exposure in the portion of the Bank’s loan portfolio not reviewed at the most recent regulatory examination. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Submit a written plan to provide for the ongoing review and grading of the Bank’s loan portfolio by a qualified independent party. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including related interest of the borrower, who is obligated to the Bank on any extension of credit that have been charged off by the Bank, or classified “loss” in the most recent report of examination or in any subsequent report of examination so long as such credit remains uncollected. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The Bank shall not, directly or indirectly, extend or renew any credit to or for the benefit of any borrower, including related interest of the borrower, whose extension of credit has been classified as “doubtful” or “substandard” in the most recent report of examination or in any subsequent report of examination without the prior approval of the Bank’s Board of Directors. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Submit a written plan for each problem loan and for other real estate exceeding $250,000 that is designed to improve the Bank’s position with respect to the above assets. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Provide a written report after each calendar quarter updating each asset improvement plan; in addition, provide the problem loan list, a listing of past due/non-accrual loans, and a list of all loan renewals and extensions for which the Bank did not collect the full interest. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Eliminate from the Bank’s balance sheet all assets or portions of assets classified “loss” in the most recent report of examination as well as in future reports of examination. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Review and revise the methodology used to construct the allowance for loan and lease losses (“the ALLL”).  Upon completion, submit the ALLL methodology to the regulators for their review. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Submit a written plan for the maintenance of an adequate ALLL, with periodic updates incorporating all changes. |
|--------------------|-----------------------------------------------------------------------------------------------------------------|

| ·   | Submit a written plan for maintaining sufficient capital at the Bank, including an analysis of current and future capital needs as well as compliance with capital adequacy guidelines and ratios.  In measuring capital adequacy, consideration of the volume and severity of classified credits, portfolio concentration, adequacy of the ALLL, projected growth in assets and earnings, among others, should be taken into account. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Notify the regulators, in writing, shortly after the end of each calendar quarter if any of the Bank’s capital ratios (total risk-based, Tier 1, or Leverage) had fallen below the approved capital plan’s minimum ratios.  Contemporaneously, provide a plan that details steps to be taken by the Bank to increase the affected capital ratios to or above the approved capital plan’s minimums. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Provide a written plan to strengthen the oversight of the Bank’s audit program by the Audit Committee. |
|--------------------|--------------------------------------------------------------------------------------------------------------|

| ·   | Submit a written plan to improve management of the Bank’s liquidity position and funds management practices.  A contingency funding plan should be provided as well. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Submit written policies and procedures to strengthen the management of the Bank’s investment portfolio. |
|--------------------|---------------------------------------------------------------------------------------------------------------|

| ·   | Submit a business plan for calendar year 2011 to improve the Bank’s earnings and overall condition.  The plan shall include a realistic and comprehensive operational budget and balance sheet projections. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The Bank shall not declare or pay dividends without the prior approval of FRB and OFR. |
|--------------------|----------------------------------------------------------------------------------------|

| ·   | Ascertain full compliance with respect to appointments of new directors, and new executive officers, including the assumption of new responsibilities by an existing executive officer.  Also, ascertain compliance with restrictions on indemnification and severance payments. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Form a new Board Committee, the Compliance Committee, to monitor and coordinate the Bank’s compliance with the provisions of the Agreement.  The Compliance Committee shall include a majority of outside directors who are not executive officers or principal shareholders.  Shortly after the end of each calendar quarter, the Bank shall submit a written progress report detailing the form and manner of all actions taken to secure compliance with the Agreement. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | All written plans, programs, policies and procedures that are submitted by the Bank, shall be acceptable to FRB and OFR, and within the prescribed time period.  Once approved by the regulators, the Bank shall adopt the approved plans, programs, policies and procedures within ten days and implement them promptly. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Not later than 45 days from March 4, 2010, increase the Bank’s equity through the sale of shares or contribution to surplus sufficient to make the Bank adequately capitalized, enter into and close a contract to be acquired or combine with another depository institution, or take other necessary measures to make the Bank adequately capitalized. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Comply fully with the provisions of Section 38 of the FDI Act restricting the Bank from making any capital distributions. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------|

| ·   | Refrain, without prior written approval of the FRB, from soliciting, accepting or renewing time deposits bearing an interest rate exceeding the prevailing interest rates in the Bank’s market area, and, within 30 days, submit an acceptable plan and timetable to the FRB for conforming such interest rates to the prevailing interest rates. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Comply with the provisions of Section 38 of the FDI Act requiring that all transactions between the Bank and any affiliate comply with Section 23A of the Federal Reserve Act. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Comply with the provisions of Section 38 of the FDI Act restricting the payment of bonuses to senior executive officers and increases in compensation of such officers, and |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Comply with the provisions of Section 38 of the FDI Act restricting asset growth, acquisitions, branching and new lines of business. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------|

----

----

| ·   | the effects of the current global economic crisis, including, without limitation, the dramatic deterioration of real estate values, the subprime mortgage, credit and liquidity markets, as well as the Federal Reserve’s actions with respect to interest rates, may lead to a further deterioration in credit quality, thereby requiring continued increases in our provision for loan losses, or a reduced demand for credit, which will continue to negatively impact our earnings; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | the imposition of enforcement orders, capital directives or other enforcement actions by the Federal Reserve, including restrictions and limitations that might be placed on the Bank pursuant to the  Written Agreement described below; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | possible changes in trade, monetary and fiscal policies, as well as legislative and regulatory changes, including changes in accounting standards and banking, securities and tax laws and regulations and governmental intervention in the U.S. financial system, as well as changes affecting financial institutions’ ability to lend and otherwise do business with consumers; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | increases in our nonperforming assets, or our inability to recover or absorb losses created by such nonperforming assets; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------|

| ·   | our ability to effectively manage liquidity risk, interest rate risk and other market risk, credit risk and operational risk |
|--------------------|------------------------------------------------------------------------------------------------------------------------------|

| ·   | our ability to manage negative developments and disruptions in the credit and lending markets, including the impact of the ongoing credit crisis on our business and on the businesses of our           customers as well as other financial institutions with which we have commercial relationships; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | the continuation of the recent unprecedented volatility in the credit markets and overall economy; |
|--------------------|----------------------------------------------------------------------------------------------------|

| ·   | possible changes in the quality or composition of our loans or investment portfolios, including further adverse developments in the real estate markets, the borrowers’ industries or in the repayment ability of individual borrowers or issuers; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | changes in the interest rate yield curve such as flat, inverted or steep yield curves, or changes in the interest rate environment that impact interest margins and may impact prepayments on the mortgage-backed securities portfolio; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | our ability to manage fluctuations in the value of assets and liabilities and off-balance sheet exposure so as to maintain sufficient capital and liquidity to support our business; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | the failure of our assumptions underlying the establishment of allowances for loan losses and other estimates, or dramatic changes in those underlying assumptions or judgments in future periods, that, in either case, render the allowance for loan losses inadequate or require that further provisions for loan losses be made; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | unexpected outcomes of existing or new litigation; |
|--------------------|----------------------------------------------------|

| ·   | the threat or occurrence of war or acts of terrorism and the existence or exacerbation of general geopolitical instability and uncertainty; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | management’s ability to develop and execute plans to effectively respond to the Orders and any unexpected events in the future; and |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | other factors and information contained in this Quarterly Report on Form 10-Q and other reports that we file with the Securities and Exchange Commission (SEC) under the Exchange Act. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

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| 31.1   |   | Certification of Chief Executive Officer                                                                                                                     |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                         |
| 31.2   |   | Certification of Acting Chief Financial Officer                                                                                                              |
|   |   |                                                                                                                                                         |
| 32.1   |   | Certification  of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
|   |   |                                                                                                                                                         |
| 32.2   |   | Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002        |

----

|               |   | /s/ Charles S. Conoley                       |   |
|--------------------|--------|----------------------------------------------|--------|
|               |   | Charles S. Conoley                           |   |
|               |   | President and Chief Executive Officer        |   |
|               |   | (Principal Executive Officer)                |   |
|               |   |                                         |   |
|               |   |                                         |   |
|               |   | /s/ Kathleen M. Jepson                       |   |
|               |   | Kathleen M. Jepson                           |   |
|               |   | Acting Chief Financial Officer               |   |
|               |   | (Principal Financial and Accounting Officer) |   |
|               |   |                                         |   |
| Date: May 12, 2011 |   |                                         |   |

----