<PAGE>

                                                                     Schedule II

                        VALUATION AND QUALIFYING ACCOUNTS
                      PROVISION FOR LOAN LOSSES ROLLFORWARD

<TABLE>
<S>                                                                  <C>
BALANCE AT JANUARY 1, 1999                                           $  100,000
    Provision for loan losses                                           250,000
    Charge offs                                                              --
                                                                     ----------

BALANCE AT DECEMBER 31, 1999                                            350,000
    Provision for loan losses                                           400,000
    Charge offs                                                              --
                                                                     ----------

BALANCE AT DECEMBER 31, 2000                                            750,000
    Provision for loan losses                                           496,427
    Charge offs to Real Estate Owned                                   (225,000)
    Charge offs                                                          (1,106)
                                                                     ----------

BALANCE AT DECEMBER 31, 2001                                         $1,020,321
                                                                     ==========
</TABLE>


                                                                     Schedule IV

                          MORTGAGE LOANS ON REAL ESTATE
                            MORTGAGE LOAN ROLLFORWARD

<TABLE>
<S>                                                                <C>
BALANCE AT JANUARY 1, 1999                                         $ 29,600,401
    Additions during the period
      New mortgage loans                                             22,968,157
      Mortgage loans exchanged for
        issuance of Preferred Stock                                   1,498,884
    Deductions during the period
      Collections of principal                                      (17,961,772)
                                                                   ------------

BALANCE AT DECEMBER 31, 1999                                         36,105,670
    Additions during the period
      New mortgage loans                                             47,451,201
    Deductions during the period
      Collections of principal                                      (27,693,835)
                                                                   ------------

BALANCE AT DECEMBER 31, 2000                                         55,863,036
    Additions during the period
      New mortgage loans                                             40,186,112
    Deductions during the period
      Foreclosures                                                   (3,048,561)
      Collections of principal                                      (19,668,928)
                                                                   ------------

Balance at December 31, 2001                                       $ 73,331,659
                                                                   ============
</TABLE>

                                       75
<PAGE>

                                                                     Schedule IV

                          MORTGAGE LOANS ON REAL ESTATE
                                DECEMBER 31, 2001

MORTGAGE LOANS BY TYPE OF PROPERTY

<TABLE>
<CAPTION>
                                             FACE             CARRYING                             AMOUNT
    TYPE OF           INTEREST            AMOUNT OF          AMOUNT OF          MATURITY         SUBJECT TO
     LOAN               RATE              MORTGAGES          MORTGAGES            DATES          DELINQUENCY
-------------       -------------       ------------        -----------        ----------        -----------
<S>                 <C>                 <C>                 <C>                <C>               <C>
Commercial          12.00%-12.50%       $  2,109,915        $ 2,109,915        4/02-3/05         $       --
Construction        12.00%-17.50%          7,475,997          7,475,997        9/01-12/03         1,298,121
Land                12.25%-13.00%         86,827,281         59,870,334        1/02-10/04         1,579,850
Other               12.00%-13.25%          3,875,413          3,875,413        9/01-12/06           933,000
                                        ------------        -----------                          ----------

                                        $100,288,606        $73,331,659                          $3,810,971
                                        ============        ===========                          ==========
</TABLE>

MORTGAGE LOANS BY LIEN POSITION

<TABLE>
<CAPTION>
                                            FACE              CARRYING                             AMOUNT
      LIEN             INTEREST           AMOUNT OF          AMOUNT OF          MATURITY         SUBJECT TO
    POSITION             RATE             MORTGAGES          MORTGAGES            DATES          DELINQUENCY
-------------       -------------       ------------        -----------        ----------        -----------
<S>                 <C>                 <C>                 <C>                <C>               <C>
1st                 12.00%-17.50%       $ 95,343,371        $68,906,574        9/01-3/05         $2,071,121
2nd                 12.25%-13.25%          4,945,235          4,425,085        9/01-12/06         1,739,850
                                        ------------        -----------                          ----------
                                        $100,288,606        $73,331,659                          $3,810,971
                                        ============        ===========                          ==========
</TABLE>

AMOUNT OF LOAN

<TABLE>
<CAPTION>
                                                   FINAL                                                   AMOUNT
    AMOUNT OF                INTEREST            MATURITY        FACE AMOUNT OF     CARRYING AMOUNT      SUBJECT TO
       LOAN                    RATE                DATE             MORTGAGES         OF MORTGAGES       DELINQUENCY
-------------------        -------------        ----------       --------------     ---------------      -----------
<S>                        <C>                  <C>              <C>                <C>                  <C>
$ 0-250,000                12.00%-13.00%        9/01-12/06        $  5,565,034        $ 1,545,034        $  508,121
$250,001-500,000              12.25%              4/1/02               375,000            375,000                --
$500,001-$1,000,000        12.50%-17.50%        9/01-10-02          10,665,203          4,882,203         1,723,000
Over $1 million            12.25%-13.00%        1/02-7/04           83,683,369         65,756,422         1,579,850
                                                                  ------------        -----------        ----------

                                                                  $100,288,606        $72,558,659        $3,810,971
                                                                  ============        ===========        ==========
</TABLE>

                                       76
<PAGE>

                                                                     Schedule IV

                          MORTGAGE LOANS ON REAL ESTATE
                                DECEMBER 31, 2001

MORTGAGE LOANS THAT EXCEED THREE PERCENT OF THE PORTFOLIO

<TABLE>
<CAPTION>
                                                                                                          CARRYING         AMOUNT
    DESCRIPTION OF THE LOAN         INTEREST       MATURITY         LIEN           FACE AMOUNT OF        AMOUNT OF       SUBJECT TO
                                      RATE           DATE         POSITION           MORTGAGES           MORTGAGES       DELINQUENCY
--------------------------------    --------       ---------      --------         --------------       -----------      -----------
<S>                                  <C>           <C>            <C>              <C>                  <C>              <C>
Residential Raw Land                 12.50%        6/1/2002          1st            $  3,500,000        $ 3,500,000           --
Residential Raw Land                 12.50%        8/1/2002          1st               7,000,000          4,485,000           --
Residential Land Develop             12.25%        7/1/2003          1st               4,357,556          4,357,556           --
Commercial Raw Land                  12.50%        6/1/2002          1st               5,700,000          2,461,000           --
Commercial Raw Land                  13.00%        9/1/2002          1st               2,700,000          2,700,000           --
Residential Raw Land                 13.00%        11/1/2002         1st               5,000,000          5,000,000           --
Commercial Raw Land                  13.00%        2/1/2003          1st               5,350,000          3,768,197           --
Residential Land Develop             12.75%        5/1/2003          1st              13,469,105          8,214,105           --
Commercial Raw Land                  13.00%        7/1/2004          1st               9,973,920          8,537,928           --
Single Family Residence              13.25%        10/1/2003         1st               2,500,000          2,500,000           --
Residential Land Develop             13.00%        12/1/2003         1st               5,638,950          5,638,950           --
                                                                                    ------------        -----------      -----------
</TABLE>

                                       77