**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**WASHINGTON,      DC 20549**

**Form      10-Q**

| x            | Quarterly                report under section 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF                1934 For                the quarterly period ended June 30, 2008 |
|--------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   ̈ |  TRANSITION                REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT For                the transition period from ______ to                ______          |

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

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

----

| Part                I. Financial Information                                                                                 |   |
|------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                         |   |
| Item                1. Financial Statements (unaudited)                                                                      |   |
|                                                                                                                         |   |
| Consolidated                Balance Sheets as of June 30, 2008 and December 31, 2007                                         | 3      |
|                                                                                                                         |   |
| Consolidated                Statements of Income for the Three and Six Months Ended                                          |   |
| June                30, 2008 and 2007                                                                                        | 4      |
|                                                                                                                         |   |
| Consolidated                Statements of Cash Flows for the Six Months Ended                                                |   |
| June                30, 2008 and 2007                                                                                        | 5      |
|                                                                                                                         |   |
| Consolidated                Statements of Changes in Shareholders' Equity for the Six                                        |   |
|                                                                                                                         |   |
| Months                Ended June 30, 2008 and 2007                                                                           | 6      |
|                                                                                                                         |   |
| Notes                to Consolidated Financial Statements                                                                    | 7      |
|                                                                                                                         |   |
| Item                2. Management's Discussion and Analysis of Financial Conditions and                Results of Operations | 13     |
|                                                                                                                         |   |
| Item                3. Quantitative and Qualitative Disclosure about Market                Risk                              | 21     |
|                                                                                                                         |   |
| Item                4T. Controls and Procedures                                                                              | 21     |
|                                                                                                                         |   |
| Part                II. Other Information                                                                                    |   |
|                                                                                                                         |   |
| Item                1. Legal Proceedings                                                                                     | 22     |
|                                                                                                                         |   |
| Item                1A. Risk Factors                                                                                    | 22     |
|                                                                                                                         |   |
| Item                2. Unregistered Sales of Equity Securities and Use of                Proceeds                            | 22     |
|                                                                                                                         |   |
| Item                3. Defaults Upon Senior Securities                                                                       | 22     |
|                                                                                                                         |   |
| Item                4. Submission of Matters to a Vote of Security Holders                                                   | 22     |
|                                                                                                                         |   |
| Item                5. Other Information                                                                                     | 22     |
|                                                                                                                         |   |
| Item                6. Exhibits                                                                                              | 22     |

----

**PART      I - FINANCIAL INFORMATION**

**Item      1.  Financial Statements**
**.**

**HORIZON      BANCORPORATION, INC.**

|                                                                                                                                                |   | June 30, 2008(Unaudited) |        | December 31,2007 |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------|-------------|-----------------------|--------|
| **ASSETS**                                                                                                                                          |   |                               |        |                  |   |   |   |
| Cash                and cash equivalents                                                                                                            |   |                               |        |                  |   |   |   |
| Cash                and due from banks                                                                                                              |   | $                                  | 2,431,694   |                  | $      | 2,391,201 |   |
| Federal                funds sold                                                                                                                   |   |                               | ----0-----  |                  |   | 618,000 |   |
| Total                cash and cash equivalents                                                                                                      |   |                               | 2,431,694   |                  |   | 3,009,201 |   |
| Securities:                                                                                                                                         |   |                               |        |                  |   |   |   |
| Held                to maturity, at amortized cost                                                                                                  |   |                               | 13,088,931  |                  |   | 13,090,921 |   |
| Available-for-sale                at fair value                                                                                                     |   |                               | 19,334,672  |                  |   | 19,800,961 |   |
| Loans                held for sale                                                                                                                  |   |                               | 3,563,170   |                  |   | ------0----- |   |
| Loans                receivable, net                                                                                                                |   |                               | 157,685,233 |                  |   | 153,514,193 |   |
| Property                and equipment, net                                                                                                          |   |                               | 2,025,686   |                  |   | 2,030,744 |   |
| Other                real estate owned                                                                                                              |   |                               | 2,070,120   |                  |   | 1,119,411 |   |
| Other                assets                                                                                                                         |   |                               | 2,943,600   |                  |   | 2,263,963 |   |
|                                                                                                                                                |   |                               |        |                  |   |   |   |
|                                                                                                                                                |   | $                                  | 203,143,106 |                  | $      | 194,829,394 |   |
|                                                                                                                                                |   |                               |        |                  |   |   |   |
| Liabilities                                                                                                                                         |   |                               |        |                  |   |   |   |
| Deposits                                                                                                                                            |   |                               |        |                  |   |   |   |
| Noninterest-bearing                                                                                                                                 |   | $                                  | 11,015,241  |                  | $      | 8,884,651 |   |
| Interest-bearing                                                                                                                                    |   |                               | 152,853,242 |                  |   | 137,670,717 |   |
| Total                deposits                                                                                                                       |   |                               | 163,868,483 |                  |   | 146,555,368 |   |
| Federal                Home Loan Bank borrowings                                                                                                    |   |                               | 24,000,000  |                  |   | 29,700,000 |   |
| Federal                funds purchased                                                                                                              |   |                               | 2,339,000   |                  |   | 5,028,000 |   |
| Dividends                Payable                                                                                                                    |   |                               | -----0----- |                  |   | 196,729 |   |
| Other                liabilities                                                                                                                    |   |                               | 519,347     |                  |   | 195,772 |   |
| Total                liabilities                                                                                                                    |   |                               | 190,726,830 |                  |   | 181,675,869 |   |
|                                                                                                                                                |   |                               |        |                  |   |   |   |
| Shareholders'                equity                                                                                                                 |   |                               |        |                  |   |   |   |
| Preferred                stock, $.01 par value 1,000,000 shares authorized; none                outstanding                                         |   |                               | -           |                  |   | - |   |
| Treasury                stock outstanding 39,733 shares at June 30, 2008 and 19,773 shares                at                December 31, 2007       |   |                               | (479,393    | )                     |   | (232,393 | ) |
| Common                stock, $.01 par value 25,000,000 shares authorized;                1,808,219                                                  |   |                               |        |                  |   |   |   |
| Issued                and 1,768,446 outstanding at June 30, 2008 and 1,808,219 issued and                1,788,446 outstanding at December 31, 2007 |   |                               | 18,082      |                  |   | 18,082 |   |
| Additional                paid in capital                                                                                                           |   |                               | 10,336,582  |                  |   | 10,288,581 |   |
| Retained                earnings                                                                                                                    |   |                               | 4,266,358   |                  |   | 3,727,722 |   |
| Accumulated                other comprehensive income (loss), net of tax                                                                            |   |                               | (1,725,353  | )                     |   | (648,467 | ) |
| Total                shareholders' equity                                                                                                           |   |                               | 12,416,276  |                  |   | 13,153,525 |   |
|                                                                                                                                                |   |                               |        |                  |   |   |   |
|                                                                                                                                                |   | $                                  | 203,143,106 |                  | $      | 194,829,394 |   |

----

**HORIZON      BANCORPORATION, INC.**

|                                                                   |   | Three Months Ended June 30, |                      | Six Months Ended June 30, |   |
|------------------------------------------------------------------------|--------|-------------------------------------------------|---------------------------|-----------------------------------------------|--------|
|                                                                   |   | 2008                                            |                      | 2007                                          |   | 2008 |   | 2007 |   |
| **Interest income**                                               |   |                                            |                      |                                          |   |   |   |   |   |   |   |   |   |
| Interest                and fees on loans                              |   | $                                               | 2                ,753,872 |                                          | $      | 2                ,745,358 |   | $ | 5,620,559 |   | $ | 5,433,957 |   |
| Interest                on investment securities                       |   |                                            | 481,315                   |                                          |   | 429,784 |   |   | 934,667 |   |   | 786,657 |   |
| Interest                on federal funds                               |   |                                            | 6,496                     |                                          |   | ---0--- |   |   | 26,396 |   |   | 29,311 |   |
| Total                interest income                                   |   |                                            | 3,241,683                 |                                          |   | 3,175,142 |   |   | 6,581,622 |   |   | 6,249,925 |   |
| **Interest                expense**                                    |   |                                            |                      |                                          |   |   |   |   |   |   |   |   |   |
| Interest                on deposits                                    |   |                                            | 1,500,561                 |                                          |   | 1,513,238 |   |   | 3,128,024 |   |   | 3,030,300 |   |
| Interest                on borrowings                                  |   |                                            | 262,720                   |                                          |   | 211,542 |   |   | 527,510 |   |   | 344,205 |   |
| Total                interest expense                                  |   |                                            | 1,763,281                 |                                          |   | 1,724,780 |   |   | 3,655,534 |   |   | 3,374,505 |   |
| **Net                interest income**                                 |   |                                            | 1,478,402                 |                                          |   | 1,450,362 |   |   | 2,926,088 |   |   | 2,875,420 |   |
| Provision                for loan losses                               |   |                                            | 120,000                   |                                          |   | 30,000 |   |   | 215,000 |   |   | 60,000 |   |
| **Net                interest income after provision for loan losses** |   |                                            | 1,358,402                 |                                          |   | 1,420,362 |   |   | 2,711,088 |   |   | 2,815,420 |   |
| Noninterest                income                                      |   |                                            |                      |                                          |   |   |   |   |   |   |   |   |   |
| Gain                on sales of loans                                  |   |                                            | ----0----                 |                                          |   | 46,125 |   |   | ----0---- |   |   | 46,125 |   |
| Gain                on sale of servicing                               |   |                                            | 112,420                   |                                          |   | 54,447 |   |   | 112,420 |   |   | 54,447 |   |
| Gain/(loss)                on sale of foreclosed assets                |   |                                            | ----0---                  |                                          |   | ----0--- |   |   | ----0---- |   |   | (2,591 | ) |
| Gain                on sale of other assets, net                       |   |                                            | ----0---                  |                                          |   | ----0--- |   |   | 167,500 |   |   | (271 | ) |
| Service                charges on deposit accounts                     |   |                                            | 21,854                    |                                          |   | 22,579 |   |   | 45,990 |   |   | 45,940 |   |
| Miscellaneous                , other                                   |   |                                            | 39,795                    |                                          |   | 27,845 |   |   | 98,311 |   |   | 49,162 |   |
| Total                noninterest income                                |   |                                            | 174,069                   |                                          |   | 150,996 |   |   | 424,221 |   |   | 192,812 |   |
| Noninterest                expense                                     |   |                                            |                      |                                          |   |   |   |   |   |   |   |   |   |
| Salaries                and benefits                                   |   |                                            | 588,433                   |                                          |   | 539,603 |   |   | 1,187,046 |   |   | 1,056,305 |   |
| Building                and equipment expense                          |   |                                            | 181,216                   |                                          |   | 176,648 |   |   | 362,141 |   |   | 340,639 |   |
| Professional                fees                                       |   |                                            | 77,916                    |                                          |   | 59,182 |   |   | 131,445 |   |   | 169,963 |   |
| Data                processing and software expense                    |   |                                            | 88,439                    |                                          |   | 82,731 |   |   | 182,233 |   |   | 174,846 |   |
| Other                noninterest expense                               |   |                                            | 225,999                   |                                          |   | 162,929 |   |   | 437,249 |   |   | 320,869 |   |
| Total                noninterest expense                               |   |                                            | 1,162,003                 |                                          |   | 1,021,093 |   |   | 2,300,114 |   |   | 2,062,622 |   |
| **Income                before income taxes**                          |   |                                            | 370,468                   |                                          |   | 550,265 |   |   | 835,195 |   |   | 945,610 |   |
| Income                tax expense                                      |   |                                            | 132,570                   |                                          |   | 138,873 |   |   | 296,559 |   |   | 233,194 |   |
| **Net                Income**                                          |   | $                                               | 237,898                   |                                          | $      | 411,392 |   | $ | 538,636 |   | $ | 712,416 |   |
| Basic                earnings per share                                |   | $                                               | 0.13                      |                                          | $      | 0.23 |   | $ | 0.30 |   | $ | 0.39 |   |
| Diluted                earnings per share                              |   | $                                               | 0.13                      |                                          | $      | 0.21 |   | $ | 0.29 |   | $ | 0.37 |   |

----

**HORIZON      BANCORPORATION, INC.**

|                                                                                                                            |   | For the six monthsended June 30, 2008 |       | For the six monthsended June 30, 2007 |   |
|---------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------|------------|---------------------------------------------------------------------|--------|
| **Cash                flows from operating activities**                                                                         |   |                                                                |       |                                                                |   |   |   |
| Net                cash provided by operating activities                                                                        |   | $                                                                   | 621,374    |                                                                | $      | 222,960 |   |
| **Cash                flows from investing activities**                                                                         |   |                                                                |       |                                                                |   |   |   |
| Proceeds                from sale of other assets                                                                               |   |                                                                | 190,000    |                                                                |   | 12,500 |   |
| Proceeds                from sale of loans                                                                                      |   |                                                                | 1,346,267  |                                                                |   | 1,579,000 |   |
| Purchase                of securities held to maturity                                                                          |   |                                                                | ----0----  |                                                                |   | (6.554,643 | ) |
| Purchase                of securities available for sale                                                                        |   |                                                                | (4,661,437 | )                                                                   |   | (2,153,644 | ) |
| Proceeds                from maturities and principal repayments of securities available                for                sale |   |                                                                | 3,322,126  |                                                                |   | 2,334,214 |   |
| Purchase                of Federal Home Loan Bank Stock                                                                         |   |                                                                | 162,188    |                                                                |   | (473,392 | ) |
| Increase                in other real estate owned                                                                              |   |                                                                | (950,709   | )                                                                   |   | ----0---- |   |
| Increase                in loans held for sale                                                                                  |   |                                                                | (4,797,017 | )                                                                   |   | ----0---- |   |
| Loan                originations, net                                                                                           |   |                                                                | (4,386,040 | )                                                                   |   | (10,585,621 | ) |
| Property                and equipment expenditures, net                                                                         |   |                                                                | (101,374   | )                                                                   |   | (61,545 | ) |
| Net                cash provided (used) by investing activities                                                                 |   |                                                                | (9,875,996 | )                                                                   |   | (15,903,131 | ) |
| **Cash                flows from financing activities**                                                                         |   |                                                                |       |                                                                |   |   |   |
| Exercise                of warrants and options                                                                                 |   |                                                                | ----0----- |                                                                |   | 804 |   |
| Increase                in deposits                                                                                             |   |                                                                | 17,313,115 |                                                                |   | 2,077,270 |   |
| Increase/(decrease)                in fed funds purchased                                                                       |   |                                                                | (2,689,000 | )                                                                   |   | 1,001,000 |   |
| Increase/(decrease)                in borrowings, net                                                                           |   |                                                                | (5,700,000 | )                                                                   |   | 10,550,000 |   |
| Purchase                of treasury stock                                                                                       |   |                                                                | (247,000   | )                                                                   |   | ----0---- |   |
| Net                cash provided by financing activities                                                                        |   |                                                                | 8,677,115  |                                                                |   | 13,629,074 |   |
| Net                change in cash and cash equivalents                                                                          |   |                                                                | (577,507   | )                                                                   |   | (2,051,097 | ) |
| Cash                and cash equivalents at beginning of period                                                                 |   |                                                                | 3,009,201  |                                                                |   | 4,672,956 |   |
| **Cash                and cash equivalents at end of period**                                                                   |   | $                                                                   | 2,431,694  |                                                                | $      | 2,621,859 |   |

----

**HORIZON      BANCORPORATION, INC**
**.**
** **

|                                                                                                          |   |              |      |           |   |         |   |     |         |     |   | Accumulated |   |   |      |
|---------------------------------------------------------------------------------------------------------------|--------|-------------------|-----------|----------------|--------|--------------|--------|----------|--------------|----------|--------|-------------|--------|--------|-----------|
|                                                                                                          |   | Common Stock |      | Treasury       |   | Paid in |   | Retained |         | Other    |   |        |   |
|                                                                                                          |   | Shares            |      | Par Value |   | Stock        |   | Capital  |         | Earnings |   | Income      |   | Total  |      |
| Balance,                    December 31, 2006                                                                 |   |              | 1,808,152 |           | $      | 18,082       |   |     |         |     | $      | 10,223,103  |   | $      | 2,468,651 |   | $ | (140,219 | ) | $ | 12,569,617 |   |
| Comprehensive                    Income:                                                                      |   |              |      |           |   |         |   |     |         |     |   |        |   |   |      |   |   |   |   |   |   |   |
| Net                    income, six-month period ended June 30, 2007                                           |   |              | —   |           |   | —      |   |     |         |     |   | —     |   |   | 712,416   |   |   | — |   |   | 712,416 |   |
| Net                    unrealized loss on securities, six-month period ended June 30,                    2007 |   |              | —   |           |   | —      |   |     |         |     |   | —     |   |   |      |   |   | (179,448 | ) |   | (179,448 | ) |
| Total                    comprehensive income net of tax                                                      |   |              | —   |           |   | —      |   |     |         |     |   | —     |   |   | —   |   |   |   |   |   | 532,968 |   |
|                                                                                                          |   |              |      |           |   |         |   |     |         |     |   |        |   |   |      |   |   |   |   |   |   |   |
| Exercise                    of warrants & Stock options                                                   |   |              | 67        |           |   | -            |   |     |         |     |   | 804         |   |   |      |   |   |     |   |   | 804 |   |
| Stock                    based Compensation                                                                   |   |              |      |           |   |         |   |     |         |     |   | 28,269      |   |   |      |   |   |     |   |   | 28,269 |   |
| Balance,                    June 30, 2007                                                                     |   |              | 1,808,219 |           | $      | 18,082       |   |     |         |     | $      | 10,252,176  |   | $      | 3,181,067 |   | $ | (319,667 | ) | $ | 13,131,658 |   |
| Balance,                    December 31, 2007                                                                 |   |              | 1,788,446 |           | $      | 18,082       |   | $        | (232,393     | )        | $      | 10,288,581  |   | $      | 3,727,722 |   | $ | (648,467 | ) | $ | 13,153,525 |   |
| Comprehensive                    Income:                                                                      |   |              |      |           |   |         |   |     |         |     |   |        |   |   |      |   |   |   |   |   |   |   |
| Net                    income, six-month period ended June 30, 2008                                           |   |              | —   |           |   | —      |   |     |         |     |   | —     |   |   | 538,636   |   |   | — |   |   | 538,636 |   |
| Net                    unrealized loss on securities, six-month period ended June 30,                    2008 |   |              | —   |           |   | —      |   |     |         |     |   | —     |   |   |      |   |   | (1,076,886 | ) |   | (1,076,886 | ) |
| Total                    comprehensive income/(loss) net of tax                                               |   |              | —   |           |   | —      |   |     |    |     |   | —     |   |   | —   |   |   |    |   |   | (538,250 | ) |
|                                                                                                          |   |              |      |           |   |         |   |     |         |     |   |        |   |   |           |   |   |   |   |   |   |   |
| Repurchase                    of common stock                                                                 |   |              | (20,000   | )              |   | -            |   |     | (247,000     | )        |   | -           |   |   |      |   |   |    |   |   | (247,000 | ) |
| Stock                    based Compensation                                                                   |   |              |           |           |   |         |   |     |         |     |   | 48,001      |   |   |      |   |   |  |   |   | 48,001 |   |
| Balance,                    June 30, 2008                                                                     |   |              | 1,768,446 |           | $      | 18,082       |   | $        | (479,393     | )        | $      | 10,336,582  |   | $      | 4,266,358 |   | $ | (1,725,353 | ) | $ | 12,416,276 |   |

----

**HORIZON      BANCORPORATION, INC.**

**NOTE      1 – BASIS OF PRESENTATION**

**NOTE      2 – SUMMARY OF ORGANIZATION**

----

**NOTE      3 – LOANS RECEIVABLE**

|                                                |   | June 30,2008 |        | December 31,2007 |   |
|-----------------------------------------------------|--------|-------------------|-------------|-----------------------|--------|
| Real estate **–** commercial   |   | $                 | 89,484,311  |                  | $      | 84,089,484 |   |
| Real                estate **–** construction |   |              | 1,799,854   |                  |   | 4,467,425 |   |
| Real                estate **–** residential  |   |              | 34,239,917  |                  |   | 32,125,396 |   |
| Commercial                                          |   |              | 30,760,820  |                  |   | 30,743,834 |   |
| Consumer                                            |   |              | 2,868,610   |                  |   | 3,490,897 |   |
| Loans,                gross                         |   |              | 159,153,512 |                  |   | 154,917,036 |   |
| Deduct                allowance for loan losses     |   |              | (1,468,279  | )                     |   | (1,402,843 | ) |
| Loans,                net                           |   | $                 | 157,685,233 |                  | $      | 153,514,193 |   |

|                                          |   | 2008   |      | 2007   |   |
|-----------------------------------------------|--------|--------|-----------|--------|--------|
|                                          |   |   |      |   |   |
| Balance                at beginning of period |   | $      | 1,349,893 |   | $      | 1,499,077 |   |
| Provision                for loan losses      |   |   | 120,000   |   |   | 30,000 |   |
| Loans                charged-off              |   |   | (12,945   | )      |   | ----0---- |   |
| Recoveries                                    |   |   | 11,331    |   |   | 10,746 |   |
|                                          |   |   |      |   |   |   |   |
| Balance                at end of period       |   | $      | 1,468,279 |   | $      | 1,539,823 |   |

|                                          |   | 2008   |      | 2007   |   |
|-----------------------------------------------|--------|--------|-----------|--------|--------|
|                                          |   |   |      |   |   |
| Balance                at beginning of period |   | $      | 1,402,843 |   | $      | 1,570,844 |   |
| Provision                for loan losses      |   |   | 215,000   |   |   | 60,000 |   |
| Loans                charged-off              |   |   | (160,895  | )      |   | (122,573 | ) |
| Recoveries                                    |   |   | 11,331    |   |   | 31,552 |   |
|                                          |   |   |      |   |   |   |   |
| Balance                at end of period       |   | $      | 1,468,279 |   | $      | 1,539,823 |   |

**NOTE      4 – SECURITIES HELD-TO-MATURITY**

|                                       |   | Less Than     |      | Over               |   |            |   |
|--------------------------------------------|--------|--------------------|-----------|--------------------|--------|-----------------|--------|
|                                       |   | Twelve Months |      | Twelve Months |   | Total           |   |
|                                       |   | FairValue          |      | UnrealizedLoss     |   | Fair Value |   | UnrealizedLoss |   | Fair Value |   | UnrealizedLoss |   |
| State, County and Municipal |   | $                  | 8,281,641 |               | $      | (315,760        | )      | $ | 3,066,869 |   | $ | (424,662 | ) | $ | 11,348,510 |   | $ | (740,422 | ) |
| Corporate                Securities        |   |               | ----0---- |               |   | ----0----       |   |   | 801,600 |   |   | (198,400 | ) |   | 801,600 |   |   | (198,400 | ) |
| Total                                      |   | $                  | 8,281,641 |               | $      | (315,760        | )      | $ | 3,868,469 |   | $ | (623,062 | ) | $ | 12,150,110 |   | $ | (938,822 | ) |

----

**NOTE      5 – SECURITIES AVAILABLE FOR SALE**

|                                                                                                           |   | Less thanTwelve Months |      | Greater thanTwelve Months |   | Total           |   |
|----------------------------------------------------------------------------------------------------------------|--------|----------------------------------|-----------|-------------------------------------|--------|-----------------|--------|
|                                                                                                           |   | FairValue                        |      | UnrealizedLoss                      |   | Fair Value |   | UnrealizedLoss |   | Fair Value |   | UnrealizedLoss |   |
| U.S.                    Agency                                                                                 |   | $                                | 948,730   |                                | $      | (43,770         | )      | $ | ----0---- |   | $ | ----0---- |   | $ | 948,730 |   | $ | (43,770 | ) |
| Collateralized                    Mortgage obligations                                                         |   |                             | 3,048,561 |                                |   | (120,973        | )      |   | 711,373 |   |   | (61,975 | ) |   | 3,759,934 |   |   | (182,948 | ) |
| Mortgage                    backed securities                                                                  |   |                             | 2,713,014 |                                |   | (1,058,801      | )      |   | 416,948 |   |   | (1,166,382 | ) |   | 3,129,962 |   |   | (2,225,183 | ) |
| Trust                    preferred securities & other corporate                    notes    |   |                             | 2,118,813 |                                |   | (43,979         | )      |   | 3,382,980 |   |   | (124,866 | ) |   | 5,501,793 |   |   | (168,845 | ) |
| Total                                                                                                          |   | $                                | 8,829,118 |                                | $      | (1,267,523      | )      | $ | 4,511,301 |   | $ | (1,353,223 | ) | $ | 13,340,419 |   | $ | (2,620,746 | ) |

**NOTE      6 - EARNINGS PER SHARE**

|                                                                         |   | Three Months Ended June 30, 2008 |      | Three Months Ended June 30, 2007 |   |
|------------------------------------------------------------------------------|--------|-----------------------------------------------------------|-----------|-----------------------------------------------------------|--------|
| Basic earnings per share                                      |   |                                                      |      |                                            |   |   |   |
| Net                income applicable to common stock                         |   | $                                                         | 237,898   |                                                      | $      | 411,392 |   |
| Weighted                average shares outstanding                           |   |                                                      | 1,768,446 |                                                      |   | 1,808,219 |   |
| Basic                earnings per share                                      |   | $                                                         | 0.13      |                                                      | $      | 0.23 |   |
|                                                                         |   |                                                      |      |                                                      |   |   |   |
| Diluted                earnings per share                                    |   |                                                      |      |                                                      |   |   |   |
| Net                income applicable to common stock                         |   | $                                                         | 237,898   |                                                      | $      | 411,392 |   |
|                                                                         |   |                                                      |      |                                                      |   |   |   |
| Weighted                average shares outstanding                           |   |                                                      | 1,768,446 |                                                      |   | 1,808,219 |   |
| Dilutive                effect of assumed exercise of stock options/warrants |   |                                                      | 80,610    |                                                      |   | 108,031 |   |
| Diluted                average shares outstanding                            |   |                                                      | 1,849,056 |                                                      |   | 1,916,250 |   |
|                                                                         |   |                                                      |      |                                                      |   |   |   |
| Diluted                earnings per share                                    |   | $                                                         | 0.13      |                                                      | $      | 0.21 |   |

----

**HORIZON      BANCORPORATION, INC.**

**NOTE      6 - EARNINGS PER SHARE (Continued)**

|                                                                         |   | Six Months Ended June 30, 2008 |      | Six Months Ended June 30, 2007 |   |
|------------------------------------------------------------------------------|--------|---------------------------------------------------------|-----------|---------------------------------------------------------|--------|
| Basic earnings per share                                      |   |                                                    |      |                                          |   |   |   |
| Net                income applicable to common stock                         |   | $                                                       | 538,636   |                                                    | $      | 712,416 |   |
| Weighted                average shares outstanding                           |   |                                                    | 1,770,314 |                                                    |   | 1,808,190 |   |
| Basic                earnings per share                                      |   | $                                                       | 0.30      |                                                    | $      | 0.39 |   |
|                                                                         |   |                                                    |      |                                                    |   |   |   |
| Diluted                earnings per share                                    |   |                                                    |      |                                                    |   |   |   |
| Net                income applicable to common stock                         |   | $                                                       | 538,636   |                                                    | $      | 712,416 |   |
|                                                                         |   |                                                    |      |                                                    |   |   |   |
| Weighted                average shares outstanding                           |   |                                                    | 1,770,314 |                                                    |   | 1,808,190 |   |
| Dilutive                effect of assumed exercise of stock options/warrants |   |                                                    | 83,571    |                                                    |   | 111,184 |   |
| Diluted                average shares outstanding                            |   |                                                    | 1,853,885 |                                                    |   | 1,919,374 |   |
|                                                                         |   |                                                    |      |                                                    |   |   |   |
| Diluted                earnings per share                                    |   | $                                                       | 0.29      |                                                    | $      | 0.37 |   |

**NOTE      7 - RECENT ACCOUNTING PRONOUNCEMENTS**

----

**HORIZON      BANCORPORATION, INC.**

|                                         |   |          |   | **Fair Value Measurements Using**                                 |   |                                                |   |
|----------------------------------------------|--------|---------------|--------|---------------------------------------------------------------------------------------|--------|-----------------------------------------------------|--------|
|                                         |   |          |   | **Quoted Prices in****Active Markets****for Identical****Assets** |   | **Significant Other****Observable Input** |   | **Significant****Unobservable****Inputs** |   |
| **Descriptions**                             |   | **6/30/2008** |   | **(Level 1)**                                                                    |   | **(Level 2)**                                  |   | **(Level 3)** |   |
| Held to maturity securities   |   | $             | 13,089 |                                                                                  |   |                                                |   | $ | 13,089 |   |   |   |   |
| Available-for-sale                securities |   | $             | 19,335 |                                                                                  | $      | 949                                                 |   | $ | 18,386 |   |   |  |   |
| Impaired                Loans                |   | $             | 973    |                                                                                  |   |                                                |   |   |   |   | $ | 973 |   |
| Total                                        |   | $             | 33.397 |                                                                                  | $      | 949                                                 |   | $ | 31,475 |   | $ | 973 |   |

*Business      Combinations*

----

**HORIZON      BANCORPORATION, INC.**

*Noncontrolling      Interests in Consolidated Financial Statements - An Amendment of ARB No      51*

----

**Item      2: Management's Discussion and Analysis of Financial Condition and      Operations**

**Forward      Looking Statements**

**Overview**

**Results      of Operations **

----

|                                             |   | Three months ended June 30, 2008Compared with Three months ended June 30, 2007 |   | Six months ended June 30, 2008Compared with Six months ended June 30, 2007 |   |
|--------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                             |   | (in thousands)                                                                                                                        |   | (in thousands)                                                                                                                    |   |
|                                             |   | Increase (decrease)                    due to:                                                                                        |   | Increase                    (decrease) due to:                                                                                         |   |
|                                             |   | Volume                                                                                                                                     |   | Rate                                                                                                                                   |   | Total |   | Volume |   | Rate |   | Total |   |
| Interest                    earned on:      |   |                                                                                                                                       |   |                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                             |   |                                                                                                                                       |   |                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Taxable/Nontaxable                    securities |   |                                                                                                                                       | 83     |                                                                                                                                   |   | (31 | ) |   | 52 |   |   | 168 |   |   | (20 | ) |   | 148 |   |
| Federal                    funds sold            |   |                                                                                                                                       | 6      |                                                                                                                                   |   | 0 |   |   | 6 |   |   | (15 | ) |   | 12 |   |   | (3 | ) |
| Net                    loans                     |   |                                                                                                                                       | 71     |                                                                                                                                   |   | (62 | ) |   | 9 |   |   | 514 |   |   | (328 | ) |   | 186 |   |
|                                             |   |                                                                                                                                       |   |                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                    Interest Income         |   |                                                                                                                                       | 160    |                                                                                                                                   |   | (93 | ) |   | 67 |   |   | 667 |   |   | (336 | ) |   | 331 |   |
|                                             |   |                                                                                                                                       |   |                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest                    paid on:             |   |                                                                                                                                       |   |                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                             |   |                                                                                                                                       |   |                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NOW                    and money market deposits |   |                                                                                                                                       | (69    | )                                                                                                                                      |   | (95 | ) |   | (164 | ) |   | (165 | ) |   | (189 | ) |   | (354 | ) |
| Savings                    deposits              |   |                                                                                                                                       | 32     |                                                                                                                                   |   | (14 | ) |   | 18 |   |   | 62 |   |   | (27 | ) |   | 35 |   |
| Time                    deposits                 |   |                                                                                                                                       | 236    |                                                                                                                                   |   | (104 | ) |   | 132 |   |   | 551 |   |   | (136 | ) |   | 415 |   |
| Other                    borrowings              |   |                                                                                                                                       | 55     |                                                                                                                                   |   | (3 | ) |   | 52 |   |   | 181 |   |   | 3 |   |   | 184 |   |
|                                             |   |                                                                                                                                       |   |                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                    interest Expense        |   |                                                                                                                                       | 254    |                                                                                                                                   |   | (216 | ) |   | 38 |   |   | 629 |   |   | (349 | ) |   | 280 |   |
|                                             |   |                                                                                                                                       |   |                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Change                    in net interest income |   | $                                                                                                                                          | (94    | )                                                                                                                                      | $      | 123 |   | $ | 29 |   | $ | 38 |   | $ | 13 |   | $ | 51 |   |

----

|                                                       |   | Three months ended June 30, |    |
|------------------------------------------------------------|--------|-------------------------------------------------|---------|
|                                                       |   | 2008                                            |    | 2007 |   |
|                                                       |   | AverageVolume                                   |    | Interest |   | Yield/Cost |   | AverageVolume |   | Interest |   | Yield/Cost |   |
|                                                       |   |                                            |    |
| ASSETS                                                     |   |                                            |    |   |   |   |   |   |   |   |   |   |   |
| Interest-earning                assets:                    |   |                                            |    |   |   |   |   |   |   |   |   |   |   |
| Federal                funds sold                          |   | $                                               | 1,019   |   | $ | 6 |   |   | 2.36 | % | $ | ---0-- |   | $ | ---0-- |   |   | 0.00 | % |
| Securities                                                 |   |                                            | 34,599  |   |   | 482 |   |   | 5.57 |   |   | 28,265 |   |   | 430 |   |   | 6.09 |   |
| Loans                receivable                            |   |                                            | 158,731 |   |   | 2,754 |   |   | 6.94 |   |   | 142,628 |   |   | 2,745 |   |   | 7.70 |   |
| Total                interest-earning assets               |   | $                                               | 194,349 |   |   | 3,242 |   |   | 6.67 |   | $ | 170,893 |   |   | 3,175 |   |   | 7.43 |   |
|                                                       |   |                                            |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LIABILITIES                                                |   |                                            |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing                liabilities:               |   |                                            |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Transactional                accounts                      |   | $                                               | 23,448  |   |   | 111 |   |   | 1.89 |   | $ | 33,747 |   |   | 275 |   |   | 3.26 |   |
| Savings                deposits                            |   |                                            | 16,277  |   |   | 118 |   |   | 2.90 |   |   | 10,077 |   |   | 100 |   |   | 3.97 |   |
| Time                deposits                               |   |                                            | 112,591 |   |   | 1,271 |   |   | 4.52 |   |   | 89,309 |   |   | 1,139 |   |   | 5.10 |   |
| Other                borrowings                            |   |                                            | 24,523  |   |   | 263 |   |   | 4.29 |   |   | 19,412 |   |   | 211 |   |   | 4.35 |   |
| Total                interest-bearing liabilities          |   | $                                               | 176,839 |   |   | 1,763 |   |   | 3.99 |   | $ | 152,545 |   |   | 1,725 |   |   | 4.52 |   |
| Interest                rate spread                        |   |                                            |    |   |   |   |   |   | 2.68 | % |   |   |   |   |   |   |   | 2.91 | % |
| Net                interest income and net interest Margin |   |                                            |         |   | $ | 1,479 |   |   | 3.04 | % |   |  |   | $ | 1,450 |   |   | 3.39 | % |

|                                                       |   | Six months ended June 30, |    |
|------------------------------------------------------------|--------|-----------------------------------------------|---------|
|                                                       |   | 2008                                          |    | 2007 |   |
|                                                       |   | AverageVolume                                 |    | Interest |   | Yield/Cost |   | AverageVolume |   | Interest |   | Yield/Cost |   |
|                                                       |   |                                          |    |
| ASSETS                                                     |   |                                          |    |   |   |   |   |   |   |   |   |   |   |
| Interest-earning                assets:                    |   |                                          |    |   |   |   |   |   |   |   |   |   |   |
| Federal                funds sold                          |   | $                                             | 1,692   |   | $ | 26 |   |   | 3.07 | % | $ | 1,124 |   | $ | 29 |   |   | 5.16 | % |
| Securities                                                 |   |                                          | 31,955  |   |   | 935 |   |   | 5.85 |   |   | 26,178 |   |   | 787 |   |   | 6.01 |   |
| Loans                receivable                            |   |                                          | 157,705 |   |   | 5,620 |   |   | 7.13 |   |   | 140,816 |   |   | 5,434 |   |   | 7.72 |   |
| Total                interest-earning assets               |   | $                                             | 191,352 |   |   | 6,581 |   |   | 6.88 |   | $ | 168,118 |   |   | 6,250 |   |   | 7.44 |   |
|                                                       |   |                                          |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LIABILITIES                                                |   |                                          |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing                liabilities:               |   |                                          |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Transactional                accounts                      |   | $                                             | 23,732  |   |   | 247 |   |   | 2.08 |   | $ | 35,634 |   |   | 601 |   |   | 3.37 |   |
| Savings                deposits                            |   |                                          | 15,219  |   |   | 238 |   |   | 3.13 |   |   | 10,105 |   |   | 203 |   |   | 4.02 |   |
| Time                deposits                               |   |                                          | 112,110 |   |   | 2,642 |   |   | 4.71 |   |   | 88,180 |   |   | 2,227 |   |   | 5.05 |   |
| Other                borrowings                            |   |                                          | 24,894  |   |   | 528 |   |   | 4.24 |   |   | 16,343 |   |   | 344 |   |   | 4.21 |   |
| Total                interest-bearing liabilities          |   | $                                             | 175,955 |   |   | 3,655 |   |   | 4.15 |   | $ | 150,262 |   |   | 3,375 |   |   | 4.49 |   |
| Interest                rate spread                        |   |                                          |    |   |   |   |   |   | 2.73 | % |   |   |   |   |   |   |   | 2.95 | % |
| Net                interest income and net interest Margin |   |                                          |         |   | $ | 2,926 |   |   | 3.06 | % |   |  |   | $ | 2,875 |   |   | 3.42 | % |

----

**Balance      Sheet Analysis**

----

|                                                      |   | June 30, 2008 |   | December 31, 2007 |   |
|-----------------------------------------------------------|--------|-------------------------|--------|-----------------------------|--------|
| Available-for-Sale:                                       |   |                    |   |                        |   |
|                                                      |   |                    |   |                        |   |
| U.S.                Agency Bonds                          |   | $                       | 949    |                        | $      | 2,106 |   |
| Collateralized                mortgage obligations        |   |                    | 4,744  |                        |   | 5,004 |   |
| Mortgage-backed                securities**               |   |                    | 2,713  |                        |   | 2,526 |   |
| Trust                Preferred & Other Corporate      |   |                    | 9,065  |                        |   | 8,139 |   |
| Securities                                                |   |                    | 1,864  |                        |   | 2,026 |   |
| Equity                securities                          |   |                    |   |                        |   |   |   |
| Total                Available-for-Sale Securities        |   | $                       | 19,335 |                        | $      | 19,801 |   |
|                                                      |   |                    |   |                        |   |   |   |
| Held-to-Maturity                Securities:               |   |                    |   |                        |   |   |   |
|                                                      |   |                    |   |                        |   |   |   |
| Corporate                Securities                       |   | $                       | 802    |                        | $      | 812 |   |
| General                obligation bonds of municipalities |   |                    | 6,267  |                        |   | 6,649 |   |
| Revenue                bonds of municipalities            |   |                    | 5,081  |                        |   | 5,096 |   |
|                                                      |   |                    |   |                        |   |   |   |
| Total                Held-to-Maturity Securities          |   | $                       | 12,150 |                        | $      | 12,557 |   |
|                                                      |   |                    |   |                        |   |   |   |
| Total                Portfolio                            |   | $                       | 31,485 |                        | $      | 32,358 |   |

----

| Type                of Loan              |   | June 30, 2008 |    | December 31, 2007 |   |
|------------------------------------------|--------|-------------------------|---------|-----------------------------|--------|
| Commercial                real estate    |   | $                       | 89,484  |                        | $      | 84,090 |   |
| Residential                real estate   |   |                    | 34,240  |                        |   | 32,125 |   |
| Construction                loans        |   |                    | 1,800   |                        |   | 4,467 |   |
| Commercial                loans          |   |                    | 30,761  |                        |   | 30,744 |   |
| Consumer                loans            |   |                    | 2,869   |                        |   | 3,491 |   |
| Subtotal                                 |   |                    | 159,154 |                        |   | 154,917 |   |
| Allowance                for loan losses |   |                    | (1,469  | )                           |   | (1,403 | ) |
| Total                (net of allowance)  |   | $                       | 157,685 |                        | $      | 153,514 |   |

**Asset      Quality**

----

|                                                                                                                                                                                                                      |   | June 30, 2008 |        | December 31, 2007 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------|-------------|-----------------------------|--------|
| Loans                accounted for on a non-accrual basis:                                                                                                                                                                |   |                    |        |                        |   |
|                                                                                                                                                                                                                      |   |                    |        |                        |   |
| Number:                                                                                                                                                                                                                   |   |                    | Twenty-four | *                      |   | twelve |   |
| Amount:                                                                                                                                                                                                                   |   | $                       | 2,142       |                        | $      | 2,084 |   |
|                                                                                                                                                                                                                      |   |                    |        |                        |   |   |   |
| Accruing                loans which are contractually past due 90 days or more as to principal                and                interest payments:                                                                       |   |                    |        |                        |   |   |   |
|                                                                                                                                                                                                                      |   |                    |        |                        |   |   |   |
| Number:                                                                                                                                                                                                                   |   |                    | seven       |                        |   | one |   |
| Amount:                                                                                                                                                                                                                   |   | $                       | 529         |                        | $      | 2 |   |
|                                                                                                                                                                                                                      |   |                    |        |                        |   |   |   |
| Loans                which were renegotiated to provide a reduction or deferral of interest                or                principal because of deterioration in the financial position of the                borrower: |   |                    |        |                        |   |   |   |
|                                                                                                                                                                                                                      |   |                    |        |                        |   |   |   |
| Number:                                                                                                                                                                                                                   |   |                    | none        |                        |   | none |   |
| Amount                                                                                                                                                                                                                    |   | $                       | 0           |                        | $      | 0 |   |
|                                                                                                                                                                                                                      |   |                    |        |                        |   |   |   |
| Loans                for which there are serious doubts as to the borrower's ability to                comply                with existing terms:                                                                         |   |                    |        |                        |   |   |   |
|                                                                                                                                                                                                                      |   |                    |        |                        |   |   |   |
| Number:                                                                                                                                                                                                                   |   |                    | thirteen    |                        |   | twelve |   |
| Amount:                                                                                                                                                                                                                   |   | $                       | 4,399       |                        | $      | 4,363 |   |

----

|                                                                                          |   | **For the Three****Months Ended****June 30,** |    | **For the Twelve****Months Ended****December, 31** |   |
|-----------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------|---------|------------------------------------------------------------------------|--------|
|                                                                                          |   | **2008**                                                          |    | **2007**                                                               |   | **2007** |   |
|                                                                                          |   |                                                              |    |                                                                   |   |   |   |
| End                of period loans (net of deferred fees)                                     |   | $                                                                 | 159,154 |                                                                   | $      | 146,816 |   | $ | 154,917 |   |
| End                of period allowance for loan losses                                        |   | $                                                                 | 1,469   |                                                                   | $      | 1,530 |   | $ | 1,403 |   |
| Percentage                of allowance for loan losses to total loans                         |   |                                                              | 0.92    | %                                                                      |   | 1.04 | % |   | .91 | % |
| Average                loans for the period                                                   |   | $                                                                 | 157,705 |                                                                   | $      | 140,816 |   | $ | 144,393 |   |
| Net                charge-offs as a percentage of average loans for                the period |   |                                                              | .10     | %                                                                      |   | .06 | % |   | .22 | % |
| Nonperforming                assets                                                           |   |                                                              |    |                                                                   |   |   |   |   |   |   |
| Nonaccrual                loans                                                               |   | $                                                                 | 2,142   |                                                                   | $      | 3,190 |   | $ | 2,084 |   |
| Loans                past due 90 days or more and still accruing                              |   | $                                                                 | 529     |                                                                   | $      | ----0---- |   | $ | 2 |   |
| Other                real estate                                                              |   | $                                                                 | 2,070   |                                                                   | $      | 26 |   | $ | 1,119 |   |
|                                                                                          |   | $                                                                 | 4,741   |                                                                   | $      | 3,216 |   | $ | 3,205 |   |
| Nonperforming                assets to period end loans                                       |   |                                                              | 2.98    | %                                                                      |   | 2.19 | % |   | 2.07 | % |
| Nonperforming                assets to period end total assets                                |   |                                                              | 2.33    | %                                                                      |   | 1.76 | % |   | 1.65 | % |

**Liquidity      and Capital Resources**

|                                     |   | Bank's                  |   | Minimum Regulatory |   |
|------------------------------------------|--------|-------------------------|--------|-------------------------|--------|
|                                     |   | June 30, 2008 |   | Requirement             |   |
| Leverage                Ratio            |   |                    | 7.06   | %                       |   | 4.0 | % |
| Total                Risk Weighted ratio |   |                    | 10.01  | %                       |   | 8.0 | % |

----

**Item      3: Quantitative and Qualitative Disclosure About Market      Risk**

**Item      4T. Controls and Procedures**

----

**PART      II. OTHER INFORMATION**

**Item      1. Legal Proceedings**

**Item      1A.  Risk Factors**

**Item      2. Unregistered Sales of Equity Securities and Use of      Proceeds**

**Item      3. Defaults Upon Senior Securities**

**Item      4. Submission of Matters to a Vote of Security Holders**

|                                   |   | For    |      | Withheld/Abstentions |   |
|----------------------------------------|--------|--------|-----------|----------------------|--------|
| David                K. Scherer        |   |   | 1,362,954 |                 |   | 6,625 |   |
| Elizabeth                Thomason, DMD |   |   | 1,364,636 |                 |   | 4,943 |   |
| Mary                Ann Turner         |   |   | 1,363,886 |                 |   | 5,693 |   |

**Item      5. Other Information**

**Item      6. Exhibits**

| 31.1   | Certification                of Chief Executive Officer                                                                                                                                                           |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                              |
| 31.2   | Certification                of Chief Financial Officer                                                                                                                                                           |
|   |                                                                                                                                                                                                              |
| 32.1   | Certification                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 |

----

**SIGNATURES**

| /s/                Charles S. Conoley                            |
|------------------------------------------------------------------|
| Charles                S. Conoley                                |
| President                and Chief Executive Officer             |
| (Principal                Executive Officer)                     |
|                                                             |
| /s/                Kathleen M. Jepson                            |
| Kathleen                M. Jepson                                |
| Senior                Vice President and Chief Financial Officer |
| (Principal                Financial and Accounting Officer)      |

----