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|   | T | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|---|--------------------------------------------------------------------------------------|

|   | For the fiscal year ended December 31, 2010 |
|--------|---------------------------------------------|

|   | OR |
|--------|----|

|   | £ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|--------|------------------------------------------------------------------------------------------|

|   | For the transition period from __________ to __________ |
|--------|---------------------------------------------------------|

|   | Commission file number: 0-54124 |
|--------|---------------------------------|

|   | FEDFIRST FINANCIAL CORPORATION                         |   |
|--------|--------------------------------------------------------|--------|
|   | (Exact name of registrant as specified in its charter) |   |

| Maryland                                                       |   | 80-0578993                        |
|----------------------------------------------------------------|--------|-----------------------------------|
| (State or other jurisdiction of incorporation or organization) |   | (IRS Employer Identification No.) |

| Donner at Sixth Street, Monessen, Pennsylvania |   | 15062      |
|------------------------------------------------|--------|------------|
| (Address of principal executive offices)       |   | (Zip Code) |

| Common Stock, par value $0.01 per share |   | Nasdaq Stock Market LLC                   |
|-----------------------------------------|--------|-------------------------------------------|
| Title of each class                     |   | Name of each exchange on which registered |

|   | Large accelerated filer                     |  ̈ |   | Accelerated filer         |  ̈ |
|--------|---------------------------------------------|--------|--------|---------------------------|--------|
|   |                                        |   |   |                      |   |
|   | Non-accelerated filer                       |  ̈ |   | Smaller reporting company | x      |
|   | (Do not check if smaller reporting company) |   |   |                      |

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|             |                                                                                                                | Page   |
|------------------|---------------------------------------------------------------------------------------------------------------------|--------|
| PART I           |                                                                                                                |   |
| Item 1.          | Business                                                                                                            | K-1    |
| Item 1A.         | Risk Factors                                                                                                        | K-17   |
| Item 1B.         | Unresolved Staff Comments                                                                                           | K-22   |
| Item 2.          | Properties                                                                                                          | K-22   |
| Item 3.          | Legal Proceedings                                                                                                   | K-22   |
| Item 4.          | Removed and Reserved                                                                                                | K-22   |
|             |                                                                                                                |   |
| PART II          |                                                                                                                |   |
| Item 5.          | Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities | K-23   |
| Item 6.          | Selected Financial Data                                                                                             | K-23   |
| Item 7.          | Management’s Discussion and Analysis of Financial Condition and Results of Operation                          | K-23   |
| Item 7A.         | Quantitative and Qualitative Disclosures About Market Risk                                                          | K-53   |
| Item 8.          | Financial Statements and Supplementary Data                                                                         | K-53   |
| Item 9.          | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure                                | K-53   |
| Item 9A.         | Controls and Procedures                                                                                             | K-53   |
| Item 9B.         | Other Information                                                                                                   | K-54   |
|             |                                                                                                                |   |
| PART III         |                                                                                                                |   |
| Item 10.         | Directors, Executive Officers, and Corporate Governance                                                             | K-54   |
| Item 11.         | Executive Compensation                                                                                              | K-54   |
| Item 12.         | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters                      | K-54   |
| Item 13.         | Certain Relationships and Related Transactions, and Director Independence                                           | K-55   |
| Item 14.         | Principal Accounting Fees and Services                                                                              | K-55   |
| Item 15.         | Exhibits and Financial Statement Schedules                                                                          | K-55   |
|             |                                                                                                                |   |
|  SIGNATURES |                                                                                                                |   |

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ITEM 1.

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| Name                        |   | Position                                                                                                                                       |
|----------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------|
| Patrick G. O’Brien         |   | President and Chief Executive Officer of FedFirst Financial and First Federal Savings Bank                                                          |
|                             |   |                                                                                                                                                |
| Robert C. Barry, Jr.   |   | Executive Vice President and Chief Financial Officer of FedFirst Financial and First Federal Savings Bank                                           |
|                             |   |                                                                                                                                                |
| Richard B. Boyer                 |   | Vice President—Insurance Operations of First Federal Savings Bank and President of Exchange Underwriters, Inc.                                |
|                             |   |                                                                                                                                                |
| Henry B. Brown III               |   | Vice President—Manager Production & Credit of First Federal Savings Bank                                                                  |
|                             |   |                                                                                                                                                |
| Geraldine A. Ferrara             |   | Vice President—Manager Branch Service and Sales of First Federal Savings Bank                                                                 |
|                             |   |                                                                                                                                                |
| Jennifer L. George               |   | Vice President—Manager Bank Operations/Corporate Secretary/Compliance Officer/BSA/AML/OFAC Officer of First Federal Savings Bank              |
|                             |   |                                                                                                                                                |
| Jamie L. Prah                    |   | Vice President—Controller, Treasurer and Assistant Corporate Secretary of First Federal Savings Bank and Vice President of FedFirst Financial |
|                             |   |                                                                                                                                                |
| DaCosta Smith, III               |   | Vice President—Manager Human Resources of First Federal Savings Bank and Vice President of FedFirst Financial                                 |

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ITEM 1A

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ITEM 1B.

ITEM 2

ITEM 3.   

ITEM 4. 

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| ITEM 5. | MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES |
|---------|---------------------------------------------------------------------------------------------------------------------|

|   |           |   | 2010 (1) |   |   | 2009 (1) |   |
|--------|----------------|--------|----------|--------|--------|----------|--------|
|   | Quarter        |   | High     |   |   | Low      |   |   | High |   |   | Low |   |
|   |           |   |     |   |   |     |   |   |   |   |   |   |   |
|   | First Quarter  |   | $        | 14.68  |   |     | $      | 7.29 |   |   | $ | 9.61 |   |   | $ | 6.44 |   |
|   | Second Quarter |   |     | 14.07  |   |     |   | 10.56 |   |   |   | 9.19 |   |   |   | 6.53 |   |
|   | Third Quarter  |   |     | 11.83  |   |     |   | 7.84 |   |   |   | 10.77 |   |   |   | 6.44 |   |
|   | Fourth Quarter |   |     | 14.04  |   |     |   | 11.00 |   |   |   | 8.89 |   |   |   | 6.76 |   |
|   |           |   |     |   |   |     |   |   |   |   |   |   |   |   |   |   |   |

| (1)   | The sales prices are presented as adjusted to reflect the conversion completed September 21, 2010. |
|-----------------|----------------------------------------------------------------------------------------------------|

| ITEM 6. | SELECTED FINANCIAL DATA |
|---------|-------------------------|

| ITEM 7. | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL    CONDITION AND RESULTS OF OPERATION |
|---------|-------------------------------------------------------------------------------------------------------------------|

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|   | • | Improve earnings through asset diversification. Historically, we have emphasized the origination of residential mortgage loans secured by homes in our market area. We intend to continue this emphasis going forward. However, loan diversification improves our earnings because commercial real estate and commercial business loans generally have higher interest rates than residential mortgage loans. Another benefit of commercial lending is that it improves the sensitivity of our interest-earning assets because commercial loans typically have shorter terms than residential mortgage loans and frequently have variable interest rates. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Use conservative underwriting practices to maintain asset quality. We have sought to maintain a high level of asset quality and moderate credit risk by using underwriting standards that we believe are conservative. While the delinquencies in our loan portfolio have increased during the recent economic downturn, non-performing loans were 0.51% of our total loan portfolio at December 31, 2010. Although we intend to continue our efforts to originate commercial real estate and business loans, we intend to continue our philosophy of managing loan exposures through our conservative approach to lending. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | • | Improve our funding mix by marketing core deposits. Core deposits (demand, money market and savings accounts) comprised 53.9% of our total deposits at December 31, 2010. We value core deposits because they represent longer-term customer relationships and a lower cost of funding compared to certificates of deposit. We have succeeded in growing core deposits by promoting a sales culture in our branch offices that is supported by the use of technology and by offering a variety of products for our business customers, such as treasury management products, internet banking, and remote deposit capture. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Supplement fee income through our insurance operations. Fee income earned through our insurance agency, Exchange Underwriters, supplements our income from banking operations. We expanded our insurance operations in 2009 through the acquisition of another insurance agency. We intend to pursue opportunities to grow this line of business, including hiring insurance producers with established books of business and through further acquisitions. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Grow through expansion of our branch network. Since our initial public offering in 2005 we have opened two branches in Washington County in communities that are experiencing population growth and economic expansion. We intend to continue to pursue expansion in our market area through de novo branching in strategic locations that maximize growth opportunities. We also may expand in our market area or in areas contiguous to our market area through the acquisition of branches of other financial institutions or through whole bank acquisitions. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| December 31,                     |   | 2010   |    |   | 2009    |   |   | 2008   |   |   | 2007    |   |   | 2006   |   |
|----------------------------------|--------|--------|---------|--------|---------|--------|--------|--------|--------|--------|---------|--------|--------|--------|--------|
|                             |   | Amount |    |   | Percent |   |   | Amount |   |   | Percent |   |   | Amount |   |   | Percent |   |   | Amount |   |   | Percent |   |   | Amount |   |   | Percent |   |
|                             |   |   |    |   |    |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Real estate - mortgage:          |   |   |    |   |    |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| One-to-four family residential   |   | $      | 141,967 |   |    |   | 60.0   | %      |   | $      | 158,073 |   |   |   | 64.6   | % |   | $ | 155,871 |   |   |   | 65.7 | % |   | $ | 135,453 |   |   |   | 70.4 | % |   | $ | 133,821 |   |   |   | 75.2 | % |
| Multi-family                     |   |   | 9,343   |   |    |   | 3.9    |   |   |   | 9,991   |   |   |   | 4.1    |   |   |   | 10,946 |   |   |   | 4.6 |   |   |   | 11,985 |   |   |   | 6.2 |   |   |   | 18,410 |   |   |   | 10.3 |   |
| Commercial                       |   |   | 33,732  |   |    |   | 14.2   |   |   |   | 31,405  |   |   |   | 12.8   |   |   |   | 24,301 |   |   |   | 10.3 |   |   |   | 14,483 |   |   |   | 7.5 |   |   |   | 5,437 |   |   |   | 3.1 |   |
| Total real estate - mortgage     |   |   | 185,042 |   |    |   | 78.1   |   |   |   | 199,469 |   |   |   | 81.5   |   |   |   | 191,118 |   |   |   | 80.6 |   |   |   | 161,921 |   |   |   | 84.1 |   |   |   | 157,668 |   |   |   | 88.6 |   |
|                             |   |   |    |   |    |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Real estate - construction:      |   |   |    |   |    |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Residential                      |   |   | 6,787   |   |    |   | 2.9    |   |   |   | 3,028   |   |   |   | 1.2    |   |   |   | 9,833 |   |   |   | 4.2 |   |   |   | 6,671 |   |   |   | 3.5 |   |   |   | 5,021 |   |   |   | 2.8 |   |
| Commercial                       |   |   | 736     |   |    |   | 0.3    |   |   |   | 2,576   |   |   |   | 1.1    |   |   |   | 3,443 |   |   |   | 1.5 |   |   |   | - |   |   |   | -  |   |   |   | 1,750 |   |   |   | 1.0 |   |
| Total real estate - construction |   |   | 7,523   |   |    |   | 3.2    |   |   |   | 5,604   |   |   |   | 2.3    |   |   |   | 13,276 |   |   |   | 5.7 |   |   |   | 6,671 |   |   |   | 3.5 |   |   |   | 6,771 |   |   |   | 3.8 |   |
|                             |   |   |    |   |    |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Consumer:                        |   |   |    |   |    |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Home equity                      |   |   | 31,252  |   |    |   | 13.2   |   |   |   | 27,090  |   |   |   | 11.1   |   |   |   | 22,344 |   |   |   | 9.4 |   |   |   | 17,862 |   |   |   | 9.3 |   |   |   | 9,470 |   |   |   | 5.3 |   |
| Other                            |   |   | 2,090   |   |    |   | 0.9    |   |   |   | 2,243   |   |   |   | 0.9    |   |   |   | 1,707 |   |   |   | 0.7 |   |   |   | 1,548 |   |   |   | 0.8 |   |   |   | 1,405 |   |   |   | 0.8 |   |
| Total consumer                   |   |   | 33,342  |   |    |   | 14.1   |   |   |   | 29,333  |   |   |   | 12.0   |   |   |   | 24,051 |   |   |   | 10.1 |   |   |   | 19,410 |   |   |   | 10.1 |   |   |   | 10,875 |   |   |   | 6.1 |   |
|                             |   |   |    |   |    |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial business              |   |   | 10,875  |   |    |   | 4.6    |   |   |   | 10,327  |   |   |   | 4.2    |   |   |   | 8,474 |   |   |   | 3.6 |   |   |   | 4,341 |   |   |   | 2.3 |   |   |   | 2,616 |   |   |   | 1.5 |   |
|                             |   |   |    |   |    |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total loans                      |   |   | 236,782 |   |    |   | 100.0  | %      |   |   | 244,733 |   |   |   | 100.0  | % |   |   | 236,919 |   |   |   | 100.0 | % |   |   | 192,343 |   |   |   | 100.0 | % |   |   | 177,930 |   |   |   | 100.0 | % |
|                             |   |   |    |   |    |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net premium on loans purchased   |   |   | 116     |   |    |   |   |   |   |   | 108     |   |   |   |   |   |   |   | 120 |   |   |   |   |   |   |   | 191 |   |   |   |   |   |   |   | 326 |   |   |   |   |   |
| Net deferred loan costs          |   |   | 697     |   |    |   |   |   |   |   | 829     |   |   |   |   |   |   |   | 850 |   |   |   |   |   |   |   | 491 |   |   |   |   |   |   |   | 432 |   |   |   |   |   |
| Loans in process                 |   |   | (4,716  | )      |    |   |   |   |   |   | (2,774  | )      |   |   |   |   |   |   | (5,899 | ) |   |   |   |   |   |   | (3,614 | ) |   |   |   |   |   |   | (3,104 | ) |   |   |   |   |
| Allowance for losses             |   |   | (2,824  | )      |    |   |   |   |   |   | (2,509  | )      |   |   |   |   |   |   | (1,806 | ) |   |   |   |   |   |   | (1,457 | ) |   |   |   |   |   |   | (866 | ) |   |   |   |   |
| Loans, net                       |   | $      | 230,055 |   |    |   |   |   |   | $      | 240,387 |   |   |   |   |   |   | $ | 230,184 |   |   |   |   |   |   | $ | 187,954 |   |   |   |   |   |   | $ | 174,718 |   |   |   |   |   |
|                             |   |   |    |   |    |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

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|                       |   | Amounts Due in   |   |
|----------------------------|--------|------------------|--------|
|                       |   | One Year or Less |   |   | One toFive Years |   |   | After Five Years |   |   | Total |   |
| Real estate - mortgage     |   | $                | 539    |   |   | $ | 13,124 |   |   | $ | 171,379 |   |   | $ | 185,042 |   |
| Real estate - construction |   |             | 229    |   |   |   | 157 |   |   |   | 7,137 |   |   |   | 7,523 |   |
| Consumer                   |   |             | 2,192  |   |   |   | 849 |   |   |   | 30,301 |   |   |   | 33,342 |   |
| Commercial business        |   |             | 3,627  |   |   |   | 5,854 |   |   |   | 1,394 |   |   |   | 10,875 |   |
| Total                      |   | $                | 6,587  |   |   | $ | 19,984 |   |   | $ | 210,211 |   |   | $ | 236,782 |   |

|                       |   | Fixed  |    |   | Adjustable |   |   | Total  |   |
|----------------------------|--------|--------|---------|--------|------------|--------|--------|--------|--------|
| Real estate - mortgage     |   | $      | 172,734 |   |       | $      | 11,769 |   |   | $ | 184,503 |   |
| Real estate - construction |   |   | 6,534   |   |       |   | 760    |   |   |   | 7,294 |   |
| Consumer                   |   |   | 30,143  |   |       |   | 1,007  |   |   |   | 31,150 |   |
| Commercial business        |   |   | 7,123   |   |       |   | 125    |   |   |   | 7,248 |   |
| Total                      |   | $      | 216,534 |   |       | $      | 13,661 |   |   | $ | 230,195 |   |

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| December 31,         |   | 2010      |   |   | 2009   |   |   | 2008      |   |
|----------------------|--------|-----------|--------|--------|--------|--------|--------|-----------|--------|
|                 |   | Amortized |   |   | Fair   |   |   | Amortized |   |   | Fair |   |   | Amortized |   |   | Fair |   |
|                 |   | Cost      |   |   | Value  |   |   | Cost      |   |   | Value |   |   | Cost |   |   | Value |   |
| Government-sponsored |   |      |   |   |   |   |   |      |   |   |   |   |   |   |   |   |   |   |
| enterprises          |   | $         | 7,580  |   |   | $      | 7,614  |      |   | $ | 5,954 |   |   | $ | 5,745 |   |   | $ | 9,267 |   |   | $ | 9,366 |   |
| Municipal bonds      |   |      | 4,012  |   |   |   | 4,296  |      |   |   | 4,014 |   |   |   | 4,271 |   |   |   | - |   |   |   | - |   |
| Mortgage-backed      |   |      | 32,747 |   |   |   | 33,989 |      |   |   | 35,467 |   |   |   | 36,936 |   |   |   | 41,359 |   |   |   | 41,980 |   |
| REMICs               |   |      | 30,580 |   |   |   | 31,565 |      |   |   | 30,144 |   |   |   | 30,465 |   |   |   | 32,590 |   |   |   | 32,383 |   |
| Corporate debt       |   |      | 3,995  |   |   |   | 1,240  |      |   |   | 3,995 |   |   |   | 2,093 |   |   |   | 3,995 |   |   |   | 1,655 |   |
| Equities             |   |      | 49     |   |   |   | 49     |      |   |   | 49 |   |   |   | 49 |   |   |   | 49 |   |   |   | 49 |   |
| Total securities     |   |      |   |   |   |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| available-for-sale   |   | $         | 78,963 |   |   | $      | 78,753 |      |   | $ | 79,623 |   |   | $ | 79,559 |   |   | $ | 87,260 |   |   | $ | 85,433 |   |

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|                                 |   | Amounts due in   |
|--------------------------------------|--------|------------------|
|                                 |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 |   | One Year or Less |   | One Year to Five Years |   | Five Years to Ten Years |   | After Ten Years |   | Total |
|                                 |   |             |   |   | Weighted |   |   |   |   | Weighted |   |   |   |   | Weighted |   |   |   |   | Weighted |   |   |   |   | Weighted |
|                                 |   | Carrying         |   |   | Average |   | Carrying |   |   | Average |   | Carrying |   |   | Average |   | Carrying |   |   | Average |   | Carrying |   | Average |
|                                 |   | Value            |   |   | Yield |   | Value |   |   | Yield |   | Value |   |   | Yield |   | Value |   |   | Yield |   | Value |   | Yield |
| Government-sponsored                 |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| enterprises                          |   | $                | - |   |   |   | - | % |   | $ | - |   |   | - | % |   | $ | 3,006 |   |   |   | 3.34 | % |   | $ | 4,608 |   |   |   | 4.36 | % |   | $ | 7,614 |   |   |   | 3.96 | % |
| Municipal bonds                      |   |             | - |   |   |   | - |   |   |   | 2,096 |   |   |   | 5.14 |   |   |   | 2,200 |   |   |   | 5.85 |   |   |   | - |   |   |   |   |   |   |   | 4,296 |   |   |   | 5.50 |   |
| Mortgage-backed                      |   |             | - |   |   |   | - |   |   |   | 15 |   |   |   | 3.62 |   |   |   | 10,982 |   |   |   | 2.40 |   |   |   | 22,992 |   |   |   | 4.89 |   |   |   | 33,989 |   |   |   | 4.06 |   |
| REMICs                               |   |             | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 194 |   |   |   | 4.52 |   |   |   | 31,371 |   |   |   | 3.62 |   |   |   | 31,565 |   |   |   | 3.63 |   |
| Corporate debt                       |   |             | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,240 |   |   |   | 2.34 |   |   |   | 1,240 |   |   |   | 2.34 |   |
| Total available-for-sale             |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    debt securities    |   | $                | - |   |   |   | - | % |   | $ | 2,111 |   |   |   | 5.13 | % |   | $ | 16,382 |   |   |   | 3.03 | % |   | $ | 60,211 |   |   |   | 4.05 | % |   | $ | 78,704 |   |   |   | 3.87 | % |
| Equity securities                    |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 49 |   |   |   |   |   |
| Total securities                     |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    available-for-sale |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | $ | 78,753 |   |   |   |   |   |

----

|                                |   | 2010   |    |   | 2009    |   |   | 2008   |   |
|-------------------------------------|--------|--------|---------|--------|---------|--------|--------|--------|--------|
|                                |   | Amount |    |   | Percent |   |   | Amount |   |   | Percent |   |   | Amount |   |   | Percent |   |
| Noninterest-bearing demand deposits |   | $      | 15,612  |   |    |   | 7.7    | %      |   | $ | 15,963 |   |   |   | 8.2 | % |   | $ | 12,005 |   |   |   | 6.9 | % |
| Interest-bearing demand deposits    |   |   | 13,584  |   |    |   | 6.7    |   |   |   | 15,214 |   |   |   | 7.9 |   |   |   | 11,336 |   |   |   | 6.6 |   |
| Savings accounts                    |   |   | 21,320  |   |    |   | 10.5   |   |   |   | 21,560 |   |   |   | 11.1 |   |   |   | 22,477 |   |   |   | 13.0 |   |
| Money market accounts               |   |   | 58,949  |   |    |   | 29.0   |   |   |   | 53,282 |   |   |   | 27.5 |   |   |   | 43,873 |   |   |   | 25.4 |   |
| Certificates of deposit             |   |   | 94,097  |   |    |   | 46.1   |   |   |   | 87,562 |   |   |   | 45.3 |   |   |   | 83,113 |   |   |   | 48.1 |   |
| Total deposits                      |   | $      | 203,562 |   |    |   | 100.0  | %      |   | $ | 193,581 |   |   |   | 100.0 | % |   | $ | 172,804 |   |   |   | 100.0 | % |

|                           |   | Certificates |   |
|--------------------------------|--------|--------------|--------|
| Maturity Period                |   | of Deposit   |   |
| Three months or less           |   | $            | 3,581  |   |
| Over three through six months  |   |         | 3,501  |   |
| Over six through twelve months |   |         | 3,696  |   |
| Over twelve months             |   |         | 14,832 |   |
| Total jumbo certificates       |   | $            | 25,610 |   |

| December 31,                   |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|--------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Less than 1.00%      |   | $      | 6,774  |   |   | $      | -      |   |   | $ | - |   |
| 1.01 - 2.00%              |   |   | 28,318 |   |   |   | 22,052 |   |   |   | - |   |
| 2.01 - 3.00%                   |   |   | 36,270 |   |   |   | 19,367 |   |   |   | 24,950 |   |
| 3.01 - 4.00%         |   |   | 10,045 |   |   |   | 26,167 |   |   |   | 30,358 |   |
| 4.01 - 5.00%                   |   |   | 10,103 |   |   |   | 15,118 |   |   |   | 20,674 |   |
| 5.01 - 6.00%              |   |   | 1,746  |   |   |   | 2,284  |   |   |   | 4,543 |   |
| 6.01 - 7.00%         |   |   | 841    |   |   |   | 2,574  |   |   |   | 2,588 |   |
| Total certificates of deposits |   | $      | 94,097 |   |   | $      | 87,562 |   |   | $ | 83,113 |   |

----

| Amounts Due in  |   |
|-----------------|--------|
|            |   | One Year |   |   | One to |   |   | Two to |   |   | Three to |   |   | Four to |   |   | Five Years |   |   |   |   |   | Percent of |   |
|            |   | or Less |   |   | Two Years |   |   | Three Years |   |   | Four Years |   |   | Five Years |   |   | and Thereafter |   |   | Total |   |   | Total |   |
| Less than 1.00% |   | $ | 6,576 |   |   |   | 198 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 6,774 |   |   |   | 7.2 | % |
| 1.01 - 2.00%    |   |   | 20,374 |   |   |   | 7,317 |   |   |   | 592 |   |   |   | 23 |   |   |   | 12 |   |   |   | - |   |   |   | 28,318 |   |   |   | 30.1 |   |
| 2.01 - 3.00%    |   |   | 10,714 |   |   |   | 11,818 |   |   |   | 4,500 |   |   |   | 1,646 |   |   |   | 3,041 |   |   |   | 4,551 |   |   |   | 36,270 |   |   |   | 38.5 |   |
| 3.01 - 4.00%    |   |   | 1,807 |   |   |   | 2,100 |   |   |   | 634 |   |   |   | 3,236 |   |   |   | 1,291 |   |   |   | 977 |   |   |   | 10,045 |   |   |   | 10.7 |   |
| 4.01 - 5.00%    |   |   | 1,313 |   |   |   | 3,071 |   |   |   | 1,498 |   |   |   | 652 |   |   |   | 1,865 |   |   |   | 1,704 |   |   |   | 10,103 |   |   |   | 10.7 |   |
| 5.01 - 6.00%    |   |   | 1,065 |   |   |   | 497 |   |   |   | - |   |   |   | 1 |   |   |   | - |   |   |   | 183 |   |   |   | 1,746 |   |   |   | 1.9 |   |
| 6.01 - 7.00%    |   |   | 841 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 841 |   |   |   | 0.9 |   |
| Total           |   | $ | 42,690 |   |   | $ | 25,001 |   |   | $ | 7,224 |   |   | $ | 5,558 |   |   | $ | 6,209 |   |   | $ | 7,415 |   |   | $ | 94,097 |   |   |   | 100.0 | % |

| Years Ended December 31,          |   | 2010   |    |   | 2009   |   |    | 2008   |   |
|-----------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
| Beginning balance                 |   | $      | 193,581 |   |   | $      | 172,804 |   |   | $ | 155,558 |   |
| Increase before interest credited |   |   | 6,541   |   |   |   | 16,335  |   |   |   | 12,019 |   |
| Interest credited                 |   |   | 3,440   |   |   |   | 4,442   |   |   |   | 5,227 |   |
| Net increase in deposits          |   |   | 9,981   |   |   |   | 20,777  |   |   |   | 17,246 |   |
| Deposits at end of year           |   | $      | 203,562 |   |   | $      | 193,581 |   |   | $ | 172,804 |   |

| Years Ended December 31,                                                            |   | 2010   |    |   | 2009   |   |    | 2008   |   |
|-------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
| Maximum amount outstanding at any month end     during the year |   | $      | 110,456 |   |   | $      | 127,559 |   |   | $ | 135,337 |   |
| Average amounts outstanding during the year                                         |   |   | 90,455  |   |   |   | 118,987 |   |   |   | 120,704 |   |
| Weighted average rate during the year                                               |   |   | 3.75    | %      |   |   | 3.86    | %      |   |   | 3.99 | % |
| Balance outstanding at end of year                                                  |   | $      | 76,893  |   |   | $      | 112,511 |   |   | $ | 132,410 |   |
| Weighted average rate at end of year                                                |   |   | 3.52    | %      |   |   | 3.67    | %      |   |   | 3.87 | % |
|                                                                                |   |   |    |   |   |   |    |   |   |   |   |   |

----

| (Dollars in thousands)           |   | 2010   |   |   | 2009   |   |
|----------------------------------|--------|--------|--------|--------|--------|--------|
| Net income                       |   | $      | 608    |   |   | $      | 557 |   |
| Return on average assets         |   |   | 0.17   | %      |   |   | 0.16 | % |
| Return on average equity         |   |   | 1.26   |   |   |   | 1.36 |   |
| Average equity to average assets |   |   | 13.85  |   |   |   | 11.72 |   |

----

| Years Ended December 31,        |   | 2010    |    |   | 2009      |   |
|---------------------------------|--------|---------|---------|--------|-----------|--------|
|                            |   |    |    |   | Interest  |   |   | Average |   |   |   |   |   | Interest |   |   | Average |   |
|                            |   | Average |    |   | and       |   |   | Yield/ |   |   | Average |   |   | and |   |   | Yield/ |   |
|                            |   | Balance |    |   | Dividends |   |   | Cost |   |   | Balance |   |   | Dividends |   |   | Cost |   |
| Assets:                         |   |    |    |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-earning assets:        |   |    |    |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans, net (1)(2)               |   | $       | 233,257 |   |      | $      | 13,366 |   |   |   | 5.73 | % |   | $ | 236,035 |   |   | $ | 13,707 |   |   |   | 5.81 | % |
| Securities (3)                  |   |    | 73,206  |   |      |   | 3,404 |   |   |   | 4.65 |   |   |   | 82,721 |   |   |   | 4,327 |   |   |   | 5.23 |   |
| Other interest-earning assets   |   |    | 13,490  |   |      |   | 25 |   |   |   | 0.19 |   |   |   | 6,551 |   |   |   | 17 |   |   |   | 0.26 |   |
| Total interest-earning          |   |    |    |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| assets                          |   |    | 319,953 |   |      | $      | 16,795 |   |   |   | 5.25 |   |   |   | 325,307 |   |   | $ | 18,051 |   |   |   | 5.55 |   |
| Noninterest-earning assets      |   |    | 28,464  |   |      |   |   |   |   |   |   |   |   |   | 25,071 |   |   |   |   |   |   |   |   |   |
| Total assets                    |   | $       | 348,417 |   |      |   |   |   |   |   |   |   |   | $ | 350,378 |   |   |   |   |   |   |   |   |   |
|                            |   |    |    |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Liabilities and                 |   |    |    |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stockholders' equity:           |   |    |    |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liablities:    |   |    |    |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing                |   |    |    |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| demand deposits                 |   | $       | 13,768  |   |      | $      | 39 |   |   |   | 0.28 | % |   | $ | 13,531 |   |   | $ | 46 |   |   |   | 0.34 | % |
| Savings accounts                |   |    | 22,074  |   |      |   | 110 |   |   |   | 0.50 |   |   |   | 22,536 |   |   |   | 126 |   |   |   | 0.56 |   |
| Money market accounts           |   |    | 58,994  |   |      |   | 666 |   |   |   | 1.13 |   |   |   | 49,262 |   |   |   | 969 |   |   |   | 1.97 |   |
| Certificates of deposit         |   |    | 94,094  |   |      |   | 2,529 |   |   |   | 2.69 |   |   |   | 85,444 |   |   |   | 2,925 |   |   |   | 3.42 |   |
| Total interest-bearing          |   |    |    |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| deposits                        |   |    | 188,930 |   |      |   | 3,344 |   |   |   | 1.77 |   |   |   | 170,773 |   |   |   | 4,066 |   |   |   | 2.38 |   |
|                            |   |    |    |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Borrowings                      |   |    | 90,455  |   |      |   | 3,390 |   |   |   | 3.75 |   |   |   | 118,987 |   |   |   | 4,595 |   |   |   | 3.86 |   |
| Total interest-bearing          |   |    |    |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| liabilities                     |   |    | 279,385 |   |      |   | 6,734 |   |   |   | 2.41 |   |   |   | 289,760 |   |   |   | 8,661 |   |   |   | 2.99 |   |
|                            |   |    |    |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Noninterest-bearing liabilities |   |    | 20,791  |   |      |   |   |   |   |   |   |   |   |   | 19,568 |   |   |   |   |   |   |   |   |   |
| Total liabilities               |   |    | 300,176 |   |      |   |   |   |   |   |   |   |   |   | 309,328 |   |   |   |   |   |   |   |   |   |
|                            |   |    |    |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stockholders' equity            |   |    | 48,241  |   |      |   |   |   |   |   |   |   |   |   | 41,050 |   |   |   |   |   |   |   |   |   |
| Total liabilities and           |   |    |    |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| stockholders' equity            |   | $       | 348,417 |   |      |   |   |   |   |   |   |   |   | $ | 350,378 |   |   |   |   |   |   |   |   |   |
|                            |   |    |    |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net interest income             |   |    |    |   |      | $      | 10,061 |   |   |   |   |   |   |   |   |   |   | $ | 9,390 |   |   |   |   |   |
|                            |   |    |    |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest rate spread            |   |    |    |   |      |   |   |   |   |   | 2.84 | % |   |   |   |   |   |   |   |   |   |   | 2.56 | % |
| Net interest margin             |   |    |    |   |      |   |   |   |   |   | 3.14 |   |   |   |   |   |   |   |   |   |   |   | 2.89 |   |
| Average interest-earning        |   |    |    |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| assets to average               |   |    |    |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| interest-bearing liablities     |   |    |    |   |      |   |   |   |   |   | 114.52 | % |   |   |   |   |   |   |   |   |   |   | 112.27 | % |

| (1) | Amount is net of deferred loan costs, loans in process, and estimated allowance for loan losses. |
|-----|--------------------------------------------------------------------------------------------------|

| (2) | Amount includes nonaccrual loans in average balances only. |
|-----|------------------------------------------------------------|

| (3) | Amount does not include effect of unrealized (loss) gain on securities available-for-sale. |
|-----|--------------------------------------------------------------------------------------------|

----

|                              |   | 2010 Compared to 2009      |   |
|-----------------------------------|--------|----------------------------|--------|
|                              |   | Increase (Decrease) Due to |   |
|                              |   | Volume                     |   |   | Rate |   |   | Total |   |
|                              |   |                       |   |   |   |   |   |   |   |
| Interest and dividend income:     |   |                       |   |   |   |   |   |   |   |
| Loans, net                        |   | $                          | (153   | ) |   | $ | (188 | ) |   | $ | (341 | ) |
| Securities                        |   |                       | (470   | ) |   |   | (453 | ) |   |   | (923 | ) |
| Other interest-earning assets     |   |                       | 14     |   |   |   | (6 | ) |   |   | 8 |   |
| Total interest-earning assets     |   |                       | (609   | ) |   |   | (647 | ) |   |   | (1,256 | ) |
|                              |   |                       |   |   |   |   |   |   |   |   |   |   |
| Interest expense:                 |   |                       |   |   |   |   |   |   |   |   |   |   |
| Deposits                          |   |                       | 399    |   |   |   | (1,121 | ) |   |   | (722 | ) |
| Borrowings                        |   |                       | (1,077 | ) |   |   | (128 | ) |   |   | (1,205 | ) |
| Total interest-bearing liablities |   |                       | (678   | ) |   |   | (1,249 | ) |   |   | (1,927 | ) |
| Change in net interest income     |   | $                          | 69     |   |   | $ | 602 |   |   | $ | 671 |   |

| Years Ended December 31,       |   | 2010   |   |   | 2009   |   |
|--------------------------------|--------|--------|--------|--------|--------|--------|
| Allowance at beginning of year |   | $      | 2,509  |   |   | $      | 1,806 |   |
| Provision for loan losses      |   |   | 850    |   |   |   | 1,090 |   |
| Charge-offs                    |   |   | (535   | )      |   |   | (390 | ) |
| Recoveries                     |   |   | -      |   |   |   | 3 |   |
| Net charge-offs                |   |   | (535   | )      |   |   | (387 | ) |
| Allowance at end of year       |   | $      | 2,824  |   |   | $      | 2,509 |   |

----

| Years Ended December 31,                     |   | 2010   |   |   | 2009   |   |
|----------------------------------------------|--------|--------|--------|--------|--------|--------|
| Fees and service charges                     |   | $      | 518    |   |   | $      | 572 |   |
| Insurance commissions                        |   |   | 2,324  |   |   |   | 2,219 |   |
| Income from bank-owned life insurance        |   |   | 284    |   |   |   | 288 |   |
| Net (loss) gain on sales of securities       |   |   | (658   | )      |   |   | 73 |   |
| Net (loss) gain on sale of real estate owned |   |   | (42    | )      |   |   | 46 |   |
| Other                                        |   |   | 26     |   |   |   | 21 |   |
| Total noninterest income                     |   | $      | 2,452  |   |   | $      | 3,219 |   |

| Years Ended December 31,           |   | 2010   |   |   | 2009   |   |
|------------------------------------|--------|--------|--------|--------|--------|--------|
| Compensation and employee benefits |   | $      | 6,051  |   |   | $      | 5,764 |   |
| Occupancy                          |   |   | 1,425  |   |   |   | 1,424 |   |
| FDIC insurance premiums            |   |   | 353    |   |   |   | 571 |   |
| Data processing                    |   |   | 486    |   |   |   | 431 |   |
| Professional services              |   |   | 624    |   |   |   | 628 |   |
| Advertising                        |   |   | 131    |   |   |   | 200 |   |
| Stationery, printing and supplies  |   |   | 119    |   |   |   | 139 |   |
| Telephone                          |   |   | 48     |   |   |   | 63 |   |
| Postage                            |   |   | 146    |   |   |   | 138 |   |
| Correspondent bank fees            |   |   | 172    |   |   |   | 168 |   |
| Real estate owned expense          |   |   | 234    |   |   |   | 139 |   |
| Amortization of intangibles        |   |   | 110    |   |   |   | 98 |   |
| All other                          |   |   | 714    |   |   |   | 790 |   |
| Total noninterest expense          |   | $      | 10,613 |   |   | $      | 10,553 |   |

----

----

----

| December 31,                               |   | 2010   |   |   | 2009   |   |   | 2008   |   |   | 2007   |   |   | 2006   |   |
|--------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Nonaccrual loans:                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Real estate - mortgage                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| One-to-four family residential             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Originated                                 |   | $      | 332    |   |   | $      | 137    |   |   | $      | 210    |   |   | $      | 492    |   |   | $ | 592 |   |
| Purchased                                  |   |   | 394    |   |   |   | 227    |   |   |   | 235    |   |   |   | 772    |   |   |   | - |   |
| Total one-to-four family residential       |   |   | 726    |   |   |   | 364    |   |   |   | 445    |   |   |   | 1,264  |   |   |   | 592 |   |
|                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Multi-family                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Originated                                 |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | - |   |
| Purchased                                  |   |   | -      |   |   |   | 634    |   |   |   | -      |   |   |   | -      |   |   |   | - |   |
| Total multi-family                         |   |   | -      |   |   |   | 634    |   |   |   | -      |   |   |   | -      |   |   |   | - |   |
| Commercial                                 |   |   | 493    |   |   |   | 98     |   |   |   | 187    |   |   |   | -      |   |   |   | - |   |
| Total real estate - mortgage               |   |   | 1,219  |   |   |   | 1,096  |   |   |   | 632    |   |   |   | 1,264  |   |   |   | 592 |   |
|                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Real estate - construction                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Residential                                |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | - |   |
| Commercial                                 |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | - |   |
| Total real estate - construction           |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | - |   |
|                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Consumer                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Home equity                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loan to value of 80% or less               |   |   | -      |   |   |   | 79     |   |   |   | -      |   |   |   | -      |   |   |   | - |   |
| Loan to value of greater than 80%          |   |   | -      |   |   |   | 45     |   |   |   | -      |   |   |   | -      |   |   |   | 155 |   |
| Total home equity                          |   |   | -      |   |   |   | 124    |   |   |   | -      |   |   |   | -      |   |   |   | 155 |   |
| Other                                      |   |   | -      |   |   |   | 11     |   |   |   | 4      |   |   |   | 17     |   |   |   | 20 |   |
| Total consumer                             |   |   | -      |   |   |   | 135    |   |   |   | 4      |   |   |   | 17     |   |   |   | 175 |   |
|                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial business                        |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | - |   |
| Total nonaccrual loans                     |   |   | 1,219  |   |   |   | 1,231  |   |   |   | 636    |   |   |   | 1,281  |   |   |   | 767 |   |
|                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Accruing loans past due 90 days or more    |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | - |   |
| Total nonaccrual loans and accruing        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| loans past due 90 days or more             |   |   | 1,219  |   |   |   | 1,231  |   |   |   | 636    |   |   |   | 1,281  |   |   |   | 767 |   |
| Real estate owned                          |   |   | 426    |   |   |   | 419    |   |   |   | 295    |   |   |   | 1,119  |   |   |   | 569 |   |
| Total nonperforming assets                 |   | $      | 1,645  |   |   | $      | 1,650  |   |   | $      | 931    |   |   | $      | 2,400  |   |   | $ | 1,336 |   |
|                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Troubled debt restructurings:              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| In nonaccrual status                       |   | $      | 493    |   |   | $      | -      |   |   | $      | -      |   |   | $      | -      |   |   | $ | - |   |
| Performing under modifed terms             |   |   | 672    |   |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | - |   |
| Total troubled debt restructurings         |   | $      | 1,165  |   |   | $      | -      |   |   | $      | -      |   |   | $      | -      |   |   | $ | - |   |
|                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total nonperforming loans to total loans   |   |   | 0.51   | %      |   |   | 0.50   | %      |   |   | 0.27   | %      |   |   | 0.67   | % |   |   | 0.43 | % |
| Total nonperforming assets to total assets |   |   | 0.48   |   |   |   | 0.47   |   |   |   | 0.27   |   |   |   | 0.79   |   |   |   | 0.47 |   |

----

|                               |   |       |   |   | Unpaid    |   |   |      |   |   | Average    |   |   | Interest   |   |
|------------------------------------|--------|------------|--------|--------|-----------|--------|--------|-----------|--------|--------|------------|--------|--------|------------|--------|
|                               |   | Recorded   |   |   | Principal |   |   | Related   |   |   | Recorded   |   |   | Income     |   |
|                               |   | Investment |   |   | Balance   |   |   | Allowance |   |   | Investment |   |   | Recognized |   |
| With no related allowance recorded |   |       |   |   |      |   |   |      |   |   |       |   |   |       |   |
| Commercial real estate             |   | $          | 493    |   |      | $      | 493    |      |   | $      | -          |   |   | $          | 547    |   |   | $ | 4 |   |
|                               |   |       |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| With an allowance recorded         |   |       |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Commercial real estate             |   |       | 672    |   |      |   | 672    |      |   |   | 170        |   |   |       | 680    |   |   |   | 32 |   |
|                               |   |       |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Total                              |   |       |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Commercial real estate             |   | $          | 1,165  |   |      | $      | 1,165  |      |   | $      | 170        |   |   | $          | 1,227  |   |   | $ | 36 |   |

| December 31,            |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|-------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Special mention assets  |   | $      | 3,156  |   |   | $      | 3,562  |   |   | $ | 1,944 |   |
| Substandard assets      |   |   | 3,047  |   |   |   | 2,339  |   |   |   | 745 |   |
| Doubtful assets         |   |   | -      |   |   |   | -      |   |   |   | 187 |   |
| Loss assets             |   |   | -      |   |   |   | -      |   |   |   | - |   |
| Total classified assets |   | $      | 6,203  |   |   | $      | 5,901  |   |   | $ | 2,876 |   |

----

| December 31,                     |   | 2010   |   |   | 2009   |   |   | 2008       |
|----------------------------------|--------|--------|--------|--------|--------|--------|--------|------------|
|                             |   |   | 30-59  |   |   |   | 60-89  |       |   | 90 Days |   |   |   | 30-59 |   |   |   | 60-89 |   |   | 90 Days |   |   |   | 30-59 |   |   |   | 60-89 |   |   | 90 Days |   |
|                             |   | Days   |   |   | Days   |   |   | or Greater |   |   | Days |   |   | Days |   |   | or Greater |   |   | Days |   |   | Days |   |   | or Greater |   |
|                             |   | Past   |   |   | Past   |   |   | Past       |   |   | Past |   |   | Past |   |   | Past |   |   | Past |   |   | Past |   |   | Past |   |
|                             |   | Due    |   |   | Due    |   |   | Due        |   |   | Due |   |   | Due |   |   | Due |   |   | Due |   |   | Due |   |   | Due |   |
| Real estate - mortgage           |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| One-to-four family residential   |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Originated                       |   | $      | 1,109  |   |   | $      | 59     |       |   | $ | 332 |   |   | $ | 1,427 |   |   | $ | 225 |   |   | $ | 137 |   |   | $ | 1,867 |   |   | $ | 222 |   |   | $ | 210 |   |
| Purchased                        |   |   | 260    |   |   |   | 168    |       |   |   | 394 |   |   |   | 371 |   |   |   | 216 |   |   |   | 227 |   |   |   | 98 |   |   |   | - |   |   |   | 235 |   |
| Total one-to-four family         |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| residential                      |   |   | 1,369  |   |   |   | 227    |       |   |   | 726 |   |   |   | 1,798 |   |   |   | 441 |   |   |   | 364 |   |   |   | 1,965 |   |   |   | 222 |   |   |   | 445 |   |
| Multi-family                     |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Originated                       |   |   | -      |   |   |   | -      |       |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Purchased                        |   |   | -      |   |   |   | -      |       |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 634 |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Total multi-family               |   |   | -      |   |   |   | -      |       |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 634 |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Commercial                       |   |   | 753    |   |   |   | -      |       |   |   | 68 |   |   |   | - |   |   |   | 503 |   |   |   | 98 |   |   |   | 206 |   |   |   | - |   |   |   | 187 |   |
| Total real estate - mortgage     |   |   | 2,122  |   |   |   | 227    |       |   |   | 794 |   |   |   | 1,798 |   |   |   | 944 |   |   |   | 1,096 |   |   |   | 2,171 |   |   |   | 222 |   |   |   | 632 |   |
|                             |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Real estate - construction       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Residential                      |   |   | -      |   |   |   | -      |       |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 872 |   |   |   | - |   |   |   | - |   |
| Commercial                       |   |   | -      |   |   |   | -      |       |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Total real estate - construction |   |   | -      |   |   |   | -      |       |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 872 |   |   |   | - |   |   |   | - |   |
|                             |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Consumer                         |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Home equity                      |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loan to value of 80% or less     |   |   | 89     |   |   |   | 133    |       |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 79 |   |   |   | 30 |   |   |   | - |   |   |   | - |   |
| Loan to value of greater         |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  than 80%                   |   |   | -      |   |   |   | 32     |       |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 45 |   |   |   | 141 |   |   |   | - |   |   |   | - |   |
| Total home equity                |   |   | 89     |   |   |   | 165    |       |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 124 |   |   |   | 171 |   |   |   | - |   |   |   | - |   |
| Other                            |   |   | 2      |   |   |   | -      |       |   |   | - |   |   |   | 8 |   |   |   | - |   |   |   | 8 |   |   |   | 10 |   |   |   | 11 |   |   |   | 4 |   |
| Total consumer                   |   |   | 91     |   |   |   | 165    |       |   |   | - |   |   |   | 8 |   |   |   | - |   |   |   | 132 |   |   |   | 181 |   |   |   | 11 |   |   |   | 4 |   |
|                             |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial business              |   |   | -      |   |   |   | -      |       |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Total delinquencies              |   | $      | 2,213  |   |   | $      | 392    |       |   | $ | 794 |   |   | $ | 1,806 |   |   | $ | 944 |   |   | $ | 1,228 |   |   | $ | 3,224 |   |   | $ | 233 |   |   | $ | 636 |   |

----

| ·   | Loans purchased in the secondary market.  Prior to September 2005, pools of multi-family and one-to-four family residential mortgage loans located in areas outside of our primary geographic lending area in southwestern Pennsylvania were acquired in the secondary market. Although these loans were underwritten to our lending standards, they are considered higher risk given our unfamiliarity with the geographic areas where the properties are located. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Home equity loans with a loan-to-value ratio greater than 80%. These loans are considered higher risk given the pressure on property values and reduced credit alternatives available to leveraged borrowers. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|                            |   |   |   |     |       |   |    |   |   |     |       |   |   |   |    |     |       |   |   |   |   |     |       |   |   |   |   |     |       |   |
|---------------------------------|--------|--------|--------|----------|------------|--------|---------|--------|--------|----------|------------|--------|--------|--------|---------|----------|------------|--------|--------|--------|--------|----------|------------|--------|--------|--------|--------|----------|------------|--------|
| December 31,                    |   | 2010   |   |     | 2009       |   |    | 2008   |   |     | 2007       |   |   | 2006   |    |
|                            |   |   |   |     | Percent of |   |    |   |   |     | Percent of |   |   |   |    |     | Percent of |   |   |   |   |     | Percent of |   |   |   |   |     | Percent of |   |
|                            |   |   |   |     | Total      |   |    |   |   |     | Total      |   |   |   |    |     | Total      |   |   |   |   |     | Total      |   |   |   |   |     | Total      |   |
|                            | Amount |   |   | Loans(1) |       |   | Amount  |   |   | Loans(1) |       |   | Amount |   |    | Loans(1) |       |   | Amount |   |   | Loans(1) |       |   | Amount |   |   | Loans(1) |       |
| Real estate - mortgage          |   |   |   |     |       |   |    |   |   |     |       |   |   |   |    |     |       |   |   |   |   |     |       |   |   |   |   |     |       |   |
| One-to-four family residential  |   | $      | 991    |     |       |   | 60.0    | %      |   | $        | 964        |   |   |   | 64.6    | %        |       | $      | 716    |   |   |     | 65.7       | %      |   | $      | 514    |     |       |   | 70.4 | % |   | $ | 272 |   |   |   | 75.2 | % |
| Multi-family                    |   |   | 139    |     |       |   | 3.9     |   |   |     | 129        |   |   |   | 4.1     |     |       |   | 92     |   |   |     | 4.6        |   |   |   | 164    |     |       |   | 6.2 |   |   |   | 138 |   |   |   | 10.3 |   |
| Commercial                      |   |   | 804    |     |       |   | 14.2    |   |   |     | 647        |   |   |   | 12.8    |     |       |   | 387    |   |   |     | 10.3       |   |   |   | 190    |     |       |   | 7.5 |   |   |   | 92 |   |   |   | 3.1 |   |
| Total real estate - mortgage    |   |   | 1,934  |     |       |   | 78.1    |   |   |     | 1,740      |   |   |   | 81.5    |     |       |   | 1,195  |   |   |     | 80.6       |   |   |   | 868    |     |       |   | 84.1 |   |   |   | 502 |   |   |   | 88.6 |   |
|                            |   |   |   |     |       |   |    |   |   |     |       |   |   |   |    |     |       |   |   |   |   |     |       |   |   |   |   |     |       |   |   |   |   |   |   |   |   |   |   |   |
| Real estate - construction      |   |   | 11     |     |       |   | 3.2     |   |   |     | 8          |   |   |   | 2.3     |     |       |   | 20     |   |   |     | 5.7        |   |   |   | 16     |     |       |   | 3.5 |   |   |   | 22 |   |   |   | 3.8 |   |
|                            |   |   |   |     |       |   |    |   |   |     |       |   |   |   |    |     |       |   |   |   |   |     |       |   |   |   |   |     |       |   |   |   |   |   |   |   |   |   |   |   |
| Consumer                        |   |   |   |     |       |   |    |   |   |     |       |   |   |   |    |     |       |   |   |   |   |     |       |   |   |   |   |     |       |   |   |   |   |   |   |   |   |   |   |   |
| Home equity                     |   |   | 586    |     |       |   | 13.2    |   |   |     | 489        |   |   |   | 11.1    |     |       |   | 405    |   |   |     | 9.4        |   |   |   | 146    |     |       |   | 9.3 |   |   |   | 134 |   |   |   | 5.3 |   |
| Other                           |   |   | 26     |     |       |   | 0.9     |   |   |     | 31         |   |   |   | 0.9     |     |       |   | 19     |   |   |     | 0.7        |   |   |   | 24     |     |       |   | 0.8 |   |   |   | 13 |   |   |   | 0.8 |   |
| Total consumer                  |   |   | 612    |     |       |   | 14.1    |   |   |     | 520        |   |   |   | 12.0    |     |       |   | 424    |   |   |     | 10.1       |   |   |   | 170    |     |       |   | 10.1 |   |   |   | 147 |   |   |   | 6.1 |   |
|                            |   |   |   |     |       |   |    |   |   |     |       |   |   |   |    |     |       |   |   |   |   |     |       |   |   |   |   |     |       |   |   |   |   |   |   |   |   |   |   |   |
| Commercial business             |   |   | 171    |     |       |   | 4.6     |   |   |     | 160        |   |   |   | 4.2     |     |       |   | 121    |   |   |     | 3.6        |   |   |   | 95     |     |       |   | 2.3 |   |   |   | 74 |   |   |   | 1.5 |   |
| Unallocated                     |   |   | 96     |     |       |   | -  |   |   |     | 81         |   |   |   | -  |     |       |   | 46     |   |   |     | -     |   |   |   | 308    |     |       |   | -  |   |   |   | 121 |   |   |   | -  |   |
| Total allowance for loan losses |   | $      | 2,824  |     |       |   | 100.0   | %      |   | $        | 2,509      |   |   |   | 100.0   | %        |       | $      | 1,806  |   |   |     | 100.0      | %      |   | $      | 1,457  |     |       |   | 100.0 | % |   | $ | 866 |   |   |   | 100.0 | % |
|                            |   |   |   |     |       |   |    |   |   |     |       |   |   |   |    |     |       |   |   |   |   |     |       |   |   |   |   |     |       |   |   |   |   |   |   |   |   |   |   |   |

----

----

| Years Ended December 31,         |   | 2010   |   |   | 2009   |   |   | 2008   |   |   | 2007   |   |   | 2006   |   |
|----------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Allowance at beginning of year   |   | $      | 2,509  |   |   | $      | 1,806  |   |   | $      | 1,457  |   |   | $      | 866    |   |   | $ | 800 |   |
| Provision for loan losses        |   |   | 850    |   |   |   | 1,090  |   |   |   | 878    |   |   |   | 1,119  |   |   |   | 84 |   |
| Charge-offs:                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Real estate - mortgage           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| One-to-four family residential   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (originated)                     |   |   | (82    | )      |   |   | (32    | )      |   |   | (307   | )      |   |   | -      |   |   |   | * |   |
| One-to-four family residential   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (purchased)                      |   |   | (181   | )      |   |   | (105   | )      |   |   | (135   | )      |   |   | -      |   |   |   | * |   |
| Multi-family (originated)        |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | * |   |
| Multi-family (purchased)         |   |   | (46    | )      |   |   | (130   | )      |   |   | -      |   |   |   | (355   | ) |   |   | * |   |
| Commercial                       |   |   | -      |   |   |   | (63    | )      |   |   | (40    | )      |   |   | -      |   |   |   | * |   |
| Total real estate - mortgage     |   |   | (309   | )      |   |   | (330   | )      |   |   | (482   | )      |   |   | (355   | ) |   |   | (18 | ) |
|                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Real estate - construction       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Residential                      |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | - |   |
| Commercial                       |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | - |   |
| Total real estate - construction |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | - |   |
|                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Consumer                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Home equity (loan to value       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| of 80% or less)                  |   |   | (87    | )      |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | - |   |
| Home equity (loan to value       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| of greater than 80%)             |   |   | (119   | )      |   |   | (46    | )      |   |   | (27    | )      |   |   | (158   | ) |   |   | - |   |
| Other                            |   |   | (18    | )      |   |   | (14    | )      |   |   | (20    | )      |   |   | (15    | ) |   |   | - |   |
| Total consumer                   |   |   | (224   | )      |   |   | (60    | )      |   |   | (47    | )      |   |   | (173   | ) |   |   | - |   |
|                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial business              |   |   | (2     | )      |   |   | -      |   |   |   | -      |   |   |   | -      |   |   |   | - |   |
| Total charge-offs                |   |   | (535   | )      |   |   | (390   | )      |   |   | (529   | )      |   |   | (528   | ) |   |   | (18 | ) |
| Recoveries                       |   |   | -      |   |   |   | 3      |   |   |   | -      |   |   |   | -      |   |   |   | - |   |
| Net charge-offs                  |   |   | (535   | )      |   |   | (387   | )      |   |   | (529   | )      |   |   | (528   | ) |   |   | (18 | ) |
| Allowance at end of year         |   | $      | 2,824  |   |   | $      | 2,509  |   |   | $      | 1,806  |   |   | $      | 1,457  |   |   | $ | 866 |   |
|                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Allowance to nonperforming loans |   |   | 231.67 | %      |   |   | 203.82 | %      |   |   | 283.96 | %      |   |   | 113.74 | % |   |   | 112.91 | % |
| Allowance to total loans         |   |   | 1.19   |   |   |   | 1.03   |   |   |   | 0.76   |   |   |   | 0.76   |   |   |   | 0.49 |   |
| Net charge-offs to average loans |   |   | 0.23   |   |   |   | 0.16   |   |   |   | 0.25   |   |   |   | 0.29   |   |   |   | 0.01 |   |
|                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                           |   |                                    |   |                      |   |   |    |    |   |      | NPV as a Percent of |
|--------------------------------|--------|-----------------------------------------|--------|---------------------------|--------|--------|---------|---------|--------|-----------|---------------------|
| December 31, 2010              |   | Net Portfolio Value (“NPV”) |   | Portfolio Value of Assets |
| Basis Point (“bp”) |   | Dollar                                  |   |                      | Dollar |   |    | Percent |   |      |                |   |   |   |
| Change in Rates                |   | Amount                                  |   |                      | Change |   |    | Change  |   | NPV Ratio |                | Change |
| 300 bp                         |   | $                                       | 33,730 |                      |   | $      | (20,678 | )       |   |      | (38.0               | ) % |   |   | 10.29 | % |   |   | (490 | ) bp |
| 200                            |   |                                    | 41,672 |                      |   |   | (12,736 | )       |   |      | (23.4               | ) |   |   | 12.30 |   |   |   | (289 | ) |
| 100                            |   |                                    | 49,153 |                      |   |   | (5,255  | )       |   |      | (9.7                | ) |   |   | 14.06 |   |   |   | (113 | ) |
| 50                             |   |                                    | 51,617 |                      |   |   | (2,791  | )       |   |      | (5.1                | ) |   |   | 14.59 |   |   |   | (60 | ) |
| Static                         |   |                                    | 54,408 |                      |   |   | -       |    |   |      | -                   |   |   |   | 15.19 |   |   |   | - |   |
| (50)                           |   |                                    | 55,414 |                      |   |   | 1,006   |    |   |      | 1.8                 |   |   |   | 15.35 |   |   |   | 16 |   |
| (100)                          |   |                                    | 56,580 |                      |   |   | 2,172   |    |   |      | 4.0                 |   |   |   | 15.56 |   |   |   | 37 |   |

----

|                            |   | Amounts Due in |   |
|---------------------------------|--------|----------------|--------|
|                            |   |           |   |   | One Year |   |   | One to |   |   | Three to |   |   | After |   |
|                            |   | Total          |   |   | or Less |   |   | Three Years |   | Five Years |   |   | Five Years |   |
| Borrowings                      |   | $              | 77,681 |   |   | $ | 22,159 |   |   | $ | 25,522 |   |   | $ | 30,000 |   |   | $ | - |   |
| Operating lease obligations (1) |   |           | 844    |   |   |   | 206 |   |   |   | 325 |   |   |   | 197 |   |   |   | 116 |   |
| Total                           |   | $              | 78,525 |   |   | $ | 22,365 |   |   | $ | 25,847 |   |   | $ | 30,197 |   |   | $ | 116 |   |

----

| Years Ended December 31,                                        |   | 2010   |    |   | 2009   |   |
|-----------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
| Investing activities:                                           |   |   |    |   |   |   |
| Loans disbursed or closed                                       |   | $      | (40,555 | )      |   | $      | (55,419 | ) |
| Loan principal repayments                                       |   |   | 48,743  |   |   |   | 43,688 |   |
| Proceeds from maturities and principal repayments of securities |   |   | 19,884  |   |   |   | 23,152 |   |
| Proceeds from sales of securities available-for-sale            |   |   | 14,449  |   |   |   | 4,094 |   |
| Purchases of securities                                         |   |   | (34,352 | )      |   |   | (17,973 | ) |
|                                                            |   |   |    |   |   |   |   |   |
| Financing activities:                                           |   |   |    |   |   |   |   |   |
| Increase in deposits                                            |   |   | 9,981   |   |   |   | 20,777 |   |
| Decrease in borrowings                                          |   |   | (35,618 | )      |   |   | (19,899 | ) |
|                                                            |   |   |    |   |   |   |   |   |

|                                      |   |   |   |   |     |   |   |              |   |   |         |   |   | To Be Well |
|-------------------------------------------|--------|--------|--------|--------|----------|--------|--------|-------------------|--------|--------|--------------|--------|--------|------------|
|                                      |   |   |   |   |     |   |   | For Capital       |   |   | Capitalized  |
|                                      |   |   |   |   |     |   |   | Adequacy          |   |   | Under Prompt |
|                                      |   | Actual |   |   | Purposes |   |   | Corrective Action |
| December 31, 2010                         |   | Amount |   |   | Ratio    |   | Amount |              |   | Ratio  |         | Amount |   |       | Ratio |
| Total capital (to risk weighted assets)   |   | $      | 46,565 |   |     |   | 25.44  | %                 |   | $      | 14,641       |   |   |       | 8.00 | % |   | $ | 18,302 |   |   |   | 10.00 | % |
| Tier 1 capital (to risk weighted assets)  |   |   | 44,277 |   |     |   | 24.19  |              |   |   | 7,321        |   |   |       | 4.00 |   |   |   | 10,981 |   |   |   | 6.00 |   |
| Tier 1 capital (to adjusted total assets) |   |   | 44,277 |   |     |   | 12.95  |              |   |   | 13,681       |   |   |       | 4.00 |   |   |   | 17,102 |   |   |   | 5.00 |   |
| Tangible capital (to tangible assets)     |   |   | 44,277 |   |     |   | 12.95  |              |   |   | 5,130        |   |   |       | 1.50 |   |   |   | N/A |   |   |   | N/A |   |
|                                      |   |   |   |   |     |   |   |              |   |   |         |   |   |       |   |   |   |   |   |   |   |   |   |   |
| December 31, 2009                         |   | Amount |   |   | Ratio    |   | Amount |              |   | Ratio  |         | Amount |   |       | Ratio |
| Total capital (to risk weighted assets)   |   | $      | 38,119 |   |     |   | 19.45  | %                 |   | $      | 15,675       |   |   |       | 8.00 | % |   | $ | 19,594 |   |   |   | 10.00 | % |
| Tier 1 capital (to risk weighted assets)  |   |   | 35,670 |   |     |   | 18.20  |              |   |   | 7,838        |   |   |       | 4.00 |   |   |   | 11,756 |   |   |   | 6.00 |   |
| Tier 1 capital (to adjusted total assets) |   |   | 35,670 |   |     |   | 10.12  |              |   |   | 14,094       |   |   |       | 4.00 |   |   |   | 17,617 |   |   |   | 5.00 |   |
| Tangible capital (to tangible assets)     |   |   | 35,670 |   |     |   | 10.12  |              |   |   | 5,285        |   |   |       | 1.50 |   |   |   | N/A |   |   |   | N/A |   |

----

| ITEM 7A. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK |
|----------|------------------------------------------------------------|

| ITEM 8. | FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA |
|---------|---------------------------------------------|

| ITEM 9. | CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE |
|---------|--------------------------------------------------------------------------------------|

| ITEM 9A. | CONTROLS AND PROCEDURES |
|----------|-------------------------|

----

| ITEM 9B. | OTHER INFORMATION |
|----------|-------------------|

| ITEM 10. | DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE |
|----------|---------------------------------------------------------|

| ITEM 11. | EXECUTIVE COMPENSATION |
|----------|------------------------|

| ITEM 12. | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS |
|----------|------------------------------------------------------------------------------------------------|

|   | (a) | Security Ownership of Certain Beneficial Owners |
|--------|-----|-------------------------------------------------|

|   | (b) | Security Ownership of Management |
|--------|-----|----------------------------------|

|   | (c) | Changes in Control |
|--------|-----|--------------------|

----

|   | (d) | Equity Compensation Plan Information |
|--------|-----|--------------------------------------|

|                         |                                                                      |   |                |                                                          |   | Number of securities                                          |
|------------------------------|---------------------------------------------------------------------------|--------|---------------------|---------------------------------------------------------------|--------|---------------------------------------------------------------|
|                         |                                                                      |   |                |                                                          |   | remaining available for                                       |
|                         | Number of securities                                                      |   |                |                                                          |   | future issuance under                                         |
|                         | to be issued upon                                                         |   | Weighted-average    | equity compensation                                           |
|                         | exercise of                                                               |   | exercise price of   | plans (excluding                                              |
|                         | outstanding options                                                       |   | outstanding options | securities reflected                                          |
| Plan Category                | warrants and rights                                                       |   | warrants and rights | in column (A))                                                |
|                         | (A)                                                                       | (B)    | (C)                 |
| Equity compensation plans:   |                                                                      |   |                |                                                          |   |                                                          |
| Approved by stockholders     |       98,936                                |   | $                   | 19.13                                                         |   |     54,483                                |
|                         |                                                                      |   |                |                                                          |   |                                                          |
| Not approved by stockholders |             - |   |                |           - |   |           - |
| Total                        |       98,936                                |   | $                   | 19.13                                                         |   |     54,483                                |

| ITEM 13. | CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE |
|----------|---------------------------------------------------------------------------|

| ITEM 14. | PRINCIPAL ACCOUNTING FEES AND SERVICES |
|----------|----------------------------------------|

| ITEM 15. | EXHIBITS AND FINANCIAL STATEMENT SCHEDULES |
|----------|--------------------------------------------|

|   | 3.1 | Articles of Incorporation of FedFirst Financial Corporation (incorporated herein by reference to Exhibit 3.1 to the Registration Statement on Form S-1 (Registration No. 333-165437) initially filed on March 12, 2010) |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.2 | Bylaws of FedFirst Financial Corporation (incorporated herein by reference to Exhibit 3.2 to the Registration Statement on Form S-1 (Registration No. 333-165437) initially filed on March 12, 2010) |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.1 | Form of First Federal Savings Bank Employee Severance Compensation Plan (incorporated herein by reference to Exhibit 10.5 to the Registration Statement on Form SB-2, as amended (File No. 333-121405), initially filed on December 17, 2004) (1) |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.2 | Director Fee Continuation Agreements dated as of June 30, 1999 by and between First Federal Savings Bank and certain Directors (incorporated herein by reference to Exhibit 10.6 to the Registration Statement on Form SB-2, as amended (File No. 333-121405), initially filed on December 17, 2004) (1) |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 10.3 | Executive Supplemental Retirement Plan Agreement dated as of June 1, 2002 by and between First Federal Savings Bank and Richard B. Boyer (incorporated herein by reference to Exhibit 10.8 to the Registration Statement on Form SB-2, as amended (File No. 333-121405), initially filed on December 17, 2004) (1) |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.4 | Split Dollar Life Insurance Agreements dated as of June 30, 1999 by and between First Federal Savings Bank and certain Directors (incorporated herein by reference to Exhibit 10.9 to the Registration Statement on Form SB-2, as amended (File No. 333-121405), initially filed on December 17, 2004) (1) |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.5 | Split Dollar Life Insurance Agreement dated as of June 1, 2002 by and between First Federal Savings Bank and Richard B. Boyer (incorporated herein by reference to Exhibit 10.11 to the Registration Statement on Form SB-2, as amended (File No. 333-121405), initially filed on December 17, 2004) (1) |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.6 | Employment Agreement dated as of May 29, 2002 by and between First Federal Savings Bank and Richard B. Boyer (incorporated herein by reference to Exhibit 10.15 to the Registration Statement on Form SB-2, as amended (File No. 333-121405), initially filed on December 17, 2004) (1) |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.7 | Lease Agreement dated as of June 1, 2002 by and between Exchange Underwriters, Inc. and Richard B. and Wendy A. Boyer (incorporated herein by reference to Exhibit 10.17 to the Registration Statement on Form SB-2, as amended (File No. 333-121405), initially filed on December 17, 2004) |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.8 | Employment Agreement dated as of March 31, 2006 by and between First Federal Savings Bank, FedFirst Financial Corporation and Robert C. Barry, Jr. (incorporated herein by reference to Exhibit 10.16 to the Annual Report on Form 10-KSB for the fiscal year ended December 31, 2005, filed on March 30, 2006) (1) |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.9 | FedFirst Financial Corporation 2006 Equity Incentive Plan dated as of March 28, 2006 (incorporated herein by reference to Appendix C to the Proxy Statement filed on April 13, 2006) (1) |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.10 | Amendment dated as of April 28, 2008 to the Director Fee Continuation Agreements Between First Federal Savings Bank and certain directors (incorporated herein by reference to Exhibit 10.1 to the Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, filed on May 9, 2008) (1) |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.11 | Amendment dated as of July 19, 2002 to the Life Insurance Endorsement Method Split Dollar Plan Agreement by and between First Federal Savings Bank and Richard B. Boyer (incorporated herein by reference to Exhibit 10.2 to the Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, filed on May 9, 2008) (1) |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.12 | Amendment dated as of July 19, 2002 to the Executive Supplemental Retirement Plan Agreement by and between First Federal Savings Bank and Richard B. Boyer (incorporated herein by reference to Exhibit 10.3 to the Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, filed on May 9, 2008) (1) |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.13 | Amendment dated as of September 13, 2005 to the Executive Supplemental Retirement Plan Agreement by and between First Federal Savings Bank and Richard B. Boyer, and to the Life Insurance Endorsement Method Split Dollar Plan Agreement by and between First Federal Savings Bank and Richard B. Boyer (incorporated herein by reference to Exhibit 10.4 to the Form 10-Q for the quarter ended March 31, 2008, filed on May 9, 2008) (1) |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.14 | Amendment dated April 28, 2008 to the Supplemental Retirement Plan Agreement by and between First Federal Savings Bank and Richard B. Boyer (incorporated herein by reference to Exhibit 10.5 to the Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, filed on May 9, 2008) (1) |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 10.15 | Employment Agreement dated as of June 1, 2008 by and between Exchange Underwriters, Inc. and Richard B. Boyer (incorporated herein by reference to Exhibit 10.1 to the Quarterly Report on Form 10-Q for the quarter ended June 30, 2008, filed on August 8, 2008) (1) |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.16 | Employment Agreement dated as of May 21, 2009 by and between First Federal Savings Bank, FedFirst Financial Corporation and Patrick G. O’Brien (incorporated herein by reference to Exhibit 10.1 to the Quarterly Report on Form 10-Q for the quarter ended June 30, 2009, filed on August 13, 2009) (1) |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.17 | Consulting Agreement dated as of May 21, 2009 by and between FedFirst Financial Corporation, First Federal Savings Bank and John G. Robinson (incorporated herein by reference to Exhibit 10.2 to the Quarterly Report on Form 10-Q for the quarter ended June 30, 2009, filed on August 13, 2009) (1) |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.18 | Amendment dated as of June 1, 2009 to the Employment Agreement by and between First Federal Savings Bank, FedFirst Financial Corporation and Robert C. Barry, Jr. (incorporated herein by reference to Exhibit 10.3 to the Quarterly Report on Form 10-Q for the quarter ended June 30, 2009, filed on August 13, 2009) (1) |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.19 | Amendment dated as of December 23, 2008 to the Employment Agreement by and between First Federal Savings Bank, FedFirst Financial Corporation and Robert C. Barry, Jr. (incorporated herein by reference to Exhibit 10.4 to the Quarterly Report on Form 10-Q for the quarter ended June 30, 2009, filed on August 13, 2009) (1) |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.20 | Amendment dated as of October 15, 2009 to the Employment Agreement by and between Exchange Underwriters, Inc. and Richard B. Boyer (incorporated herein by reference to Exhibit 10.1 to the Quarterly Report on Form 10-Q for the quarter ended September 30, 2009, filed on November 13, 2009) (1) |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.21 | Amendment dated as of April 1, 2010 to the Employment Agreement by and between First Federal Savings Bank, FedFirst Financial Corporation and Robert C. Barry, Jr.  (incorporated herein by reference to Exhibit 10.21 to the Registration Statement on Form S-1/A (Registration No. 333-165437) initially filed on May 6, 2010) (1) |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.22 | Amendment dated as of April 1, 2010 to the Employment Agreement by and between First Federal Savings Bank, FedFirst Financial Corporation and Patrick G. O’Brien (incorporated herein by reference to Exhibit 10.22 to the Registration Statement on Form S-1/A (Registration No. 333-165437) initially filed on May 6, 2010) (1) |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.23 | Amendment dated as of April 1, 2010 to the Employment Agreement by and between Exchange Underwriters, Inc. and Richard B. Boyer (incorporated herein by reference to Exhibit 10.23 to the Registration Statement on Form S-1/A (Registration No. 333-165437) initially filed on May 6, 2010) (1) |   |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|

|   | 21.0 | Subsidiaries of the Registrant (incorporated herein by reference to Exhibit 21.0 to the Registration Statement on Form S-1 (Registration No. 333-165437) initially filed on March 12, 2010) (1) |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 23.1 | Consent of ParenteBeard LLC |
|--------|------|-----------------------------|

|   | 31.1 | Rule 13(a)-14(a)/15d-14(a) Certification of Chief Executive Officer |
|--------|------|---------------------------------------------------------------------|

|   | 31.2 | Rule 13(a)-14(a)/15d-14(a) Certification of Principal Financial Officer |
|--------|------|-------------------------------------------------------------------------|

|   | 32.0 | Section 1350 Certification of Chief Executive Officer and Principal Financial Officer |
|--------|------|--------------------------------------------------------------------------------------------|

| ___________________ |
|---------------------|

| (1) | Management contract or compensation plan or arrangement |
|-----|---------------------------------------------------------|

----

SIG

|                      |   |                           |                                                                                                            |
|---------------------------|--------|--------------------------------|-----------------------------------------------------------------------------------------------------------------|
|                      |   | FedFirst Financial Corporation |
|                      |   |                           |                                                                                                            |
| Date: March 18, 2011 |   |                           | /s/    PATRICK G. O’BRIEN           |
|                      |   | By:                            | Patrick G. O’Brien                                                                                        |
|                      |   |                           | President and Chief Executive Officer                                                                           |

|                                                                               |   |                                              |   |                  |
|------------------------------------------------------------------------------------|--------|---------------------------------------------------|--------|-----------------------|
| Name                                                                          |   | Title                                        |   | Date             |
|    /s/    PATRICK G. O’BRIEN    |   |   President, Chief Executive                 |   |   March 18, 2011 |
|     Patrick G. O’Brien                                   |   | Officer and Director(principal executive officer) |   |                  |
|                                                                               |   |                                              |   |                  |
|   /s/    ROBERT C. BARRY, JR.                        |   |     Executive Vice President and   |   |  March 18, 2011  |
|      Robert C. Barry, Jr.                                 |   | Chief Financial Officer                           |   |                  |
|                                                                               |   |                                              |   |                  |
|   /s/    R. CARLYN BELCZYK                           |   |     Director                       |   |  March 18, 2011  |
|        R. Carlyn Belczyk                        |   |                                              |   |                  |
|                                                                               |   |                                              |   |                  |
|  /s/    RICHARD B. BOYER                             |   |     Director                       |   |  March 18, 2011  |
|     Richard B. Boyer                                           |   |                                              |   |                  |
|                                                                               |   |                                              |   |                  |
|  /s/    JOHN M. KISH                            |   |     Director                       |   |  March 18, 2011  |
|       John M. Kish                                   |   |                                              |   |                  |
|                                                                               |   |                                              |   |                  |
|  /s/    JOHN J. LACARTE                    |   |     Director                       |   | March 18, 2011        |
| John J. LaCarte                                                                    |   |                                              |   |                  |
|                                                                               |   |                                              |   |                  |
|  /s/    JOHN M SWIATEK                               |   |     Director                       |   | March 18, 2011        |
|       John M Swiatek                                 |   |                                              |   |                  |
|                                                                               |   |                                              |   |                  |
|  /s/    DAVID L. WOHLEBER                                 |   |     Director                       |   |  March 18, 2011  |
|  David L. Wohleber                                                            |   |                                              |   |                  |

----

----

|                                                                         |   Page |
|------------------------------------------------------------------------------|-------------|
| Management’s Report on Internal Control Over Financial Reporting       | F-2         |
| Report of Independent Registered Public Accounting Firm                      | F-3         |
| Consolidated Financial Statements:                                           |        |
| Statements of Financial Condition                                            | F-4         |
| Statements of Operations                                                     | F-5         |
| Statements of Changes in Stockholders’ Equity and Comprehensive Income | F-6         |
| Statements of Cash Flows                                                     | F-8         |
| Notes to Consolidated Financial Statements                                   | F-10        |

----

----

MANAGEMENT’S 

----

----

----

CONSOLIDA

|                                                                                                                                             |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                             |   |   |   |   |   |   |
| December 31,                                                                                                                                     |   | 2010 |   |   | 2009 |   |
| (Dollars in thousands except share data)                                                                                                         |   |   |   |   |   |   |
|                                                                                                                                             |   |   |   |   |   |   |
| Assets:                                                                                                                                          |   |   |   |   |   |   |
|                                                                                                                                             |   |   |   |   |   |   |
| Cash and cash equivalents:                                                                                                                       |   |   |   |   |   |   |
| Cash and due from banks                                                                                                                          |   | $ | 1,626 |   |   | $ | 1,545 |   |
| Interest-earning deposits                                                                                                                        |   |   | 7,694 |   |   |   | 5,951 |   |
| Total cash and cash equivalents                                                                                                                  |   |   | 9,320 |   |   |   | 7,496 |   |
|                                                                                                                                             |   |   |   |   |   |   |   |   |
| Securities available-for-sale                                                                                                                    |   |   | 78,753 |   |   |   | 79,559 |   |
| Loans, net                                                                                                                                       |   |   | 230,055 |   |   |   | 240,387 |   |
| Federal Home Loan Bank ("FHLB") stock, at cost                                                                                                   |   |   | 6,556 |   |   |   | 6,901 |   |
| Accrued interest receivable - loans                                                                                                              |   |   | 1,038 |   |   |   | 1,133 |   |
| Accrued interest receivable - securities                                                                                                         |   |   | 327 |   |   |   | 423 |   |
| Premises and equipment, net                                                                                                                      |   |   | 2,281 |   |   |   | 2,411 |   |
| Bank-owned life insurance                                                                                                                        |   |   | 7,998 |   |   |   | 7,714 |   |
| Goodwill                                                                                                                                         |   |   | 1,080 |   |   |   | 1,080 |   |
| Real estate owned                                                                                                                                |   |   | 426 |   |   |   | 419 |   |
| Deferred tax assets and tax credit carryforwards                                                                                                 |   |   | 3,017 |   |   |   | 3,487 |   |
| Other assets                                                                                                                                     |   |   | 2,222 |   |   |   | 2,283 |   |
| Total assets                                                                                                                                     |   | $ | 343,073 |   |   | $ | 353,293 |   |
|                                                                                                                                             |   |   |   |   |   |   |   |   |
| Liabilities and Stockholders' Equity:                                                                                                            |   |   |   |   |   |   |   |   |
|                                                                                                                                             |   |   |   |   |   |   |   |   |
| Deposits:                                                                                                                                        |   |   |   |   |   |   |   |   |
| Noninterest-bearing                                                                                                                              |   |   | 15,612 |   |   |   | 15,963 |   |
| Interest-bearing                                                                                                                                 |   |   | 187,950 |   |   |   | 177,618 |   |
| Total deposits                                                                                                                                   |   |   | 203,562 |   |   |   | 193,581 |   |
|                                                                                                                                             |   |   |   |   |   |   |   |   |
| Borrowings                                                                                                                                       |   |   | 76,893 |   |   |   | 112,511 |   |
| Advance payments by borrowers for taxes and insurance                                                                                            |   |   | 455 |   |   |   | 475 |   |
| Accrued interest payable - deposits                                                                                                              |   |   | 298 |   |   |   | 376 |   |
| Accrued interest payable - borrowings                                                                                                            |   |   | 300 |   |   |   | 460 |   |
| Other liabilities                                                                                                                                |   |   | 2,978 |   |   |   | 3,447 |   |
|                Total liabilities                                      |   |   | 284,486 |   |   |   | 310,850 |   |
|                                                                                                                                             |   |   |   |   |   |   |   |   |
| Stockholders' equity:                                                                                                                            |   |   |   |   |   |   |   |   |
| FedFirst Financial Corporation stockholders' equity:                                                                                             |   |   |   |   |   |   |   |   |
| Preferred stock $0.01 par value; 10,000,000 shares authorized; none issued                                                                       |   |   | - |   |   |   | - |   |
| Common stock $0.01 par value; 20,000,000 shares authorized; 2,991,461 and 3,176,001 shares issued and 2,991,461 and 2,995,584 shares outstanding |   |   | 30 |   |   |   | 67 |   |
| Additional paid-in-capital                                                                                                                       |   |   | 42,016 |   |   |   | 29,558 |   |
| Retained earnings - substantially restricted                                                                                                     |   |   | 18,140 |   |   |   | 17,619 |   |
| Accumulated other comprehensive loss, net of deferred taxes benefit of $82 and $25                                                               |   |   | (128 | ) |   |   | (39 | ) |
| Unearned Employee Stock Ownership Plan ("ESOP")                                                                                                  |   |   | (1,555 | ) |   |   | (1,728 | ) |
| Common stock held in treasury, at cost (0 and 180,417 shares)                                                                                    |   |   | - |   |   |   | (3,113 | ) |
| Total FedFirst Financial Corporation stockholders' equity                                                                                        |   |   | 58,503 |   |   |   | 42,364 |   |
| Noncontrolling interest in subsidiary                                                                                                            |   |   | 84 |   |   |   | 79 |   |
| Total stockholders' equity                                                                                                                       |   |   | 58,587 |   |   |   | 42,443 |   |
| Total liabilities and stockholders' equity                                                                                                       |   | $ | 343,073 |   |   | $ | 353,293 |   |

----

----

CO

|                                                             |   |   |   |   |   |   |
|------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Years Ended December 31,                                         |   | 2010   |   |   | 2009   |   |
| (Dollars in thousands, except per share amounts)                 |   |   |   |   |   |   |
|                                                             |   |   |   |   |   |   |
| Interest income:                                                 |   |   |   |   |   |   |
| Loans                                                            |   | $      | 13,366 |   |   | $      | 13,707 |   |
| Securities                                                       |   |   | 3,404  |   |   |   | 4,327 |   |
| Other interest-earning assets                                    |   |   | 25     |   |   |   | 17 |   |
| Total interest income                                            |   |   | 16,795 |   |   |   | 18,051 |   |
|                                                             |   |   |   |   |   |   |   |   |
| Interest expense:                                                |   |   |   |   |   |   |   |   |
| Deposits                                                         |   |   | 3,344  |   |   |   | 4,066 |   |
| Borrowings                                                       |   |   | 3,390  |   |   |   | 4,595 |   |
| Total interest expense                                           |   |   | 6,734  |   |   |   | 8,661 |   |
| Net interest income                                              |   |   | 10,061 |   |   |   | 9,390 |   |
|                                                             |   |   |   |   |   |   |   |   |
| Provision for loan losses                                        |   |   | 850    |   |   |   | 1,090 |   |
| Net interest income after provision for loan losses              |   |   | 9,211  |   |   |   | 8,300 |   |
|                                                             |   |   |   |   |   |   |   |   |
| Noninterest income:                                              |   |   |   |   |   |   |   |   |
| Fees and service charges                                         |   |   | 518    |   |   |   | 572 |   |
| Insurance commissions                                            |   |   | 2,324  |   |   |   | 2,219 |   |
| Income from bank-owned life insurance                            |   |   | 284    |   |   |   | 288 |   |
| Net (loss) gain on sales of securities                           |   |   | (658   | )      |   |   | 73 |   |
| Net (loss) gain on sales of real estate owned                    |   |   | (42    | )      |   |   | 46 |   |
| Other                                                            |   |   | 26     |   |   |   | 21 |   |
| Total noninterest income                                         |   |   | 2,452  |   |   |   | 3,219 |   |
|                                                             |   |   |   |   |   |   |   |   |
| Noninterest expense:                                             |   |   |   |   |   |   |   |   |
| Compensation and employee benefits                               |   |   | 6,051  |   |   |   | 5,764 |   |
| Occupancy                                                        |   |   | 1,425  |   |   |   | 1,424 |   |
| FDIC insurance premiums                                          |   |   | 353    |   |   |   | 571 |   |
| Data processing                                                  |   |   | 486    |   |   |   | 431 |   |
| Professional services                                            |   |   | 624    |   |   |   | 628 |   |
| Other                                                            |   |   | 1,674  |   |   |   | 1,735 |   |
| Total noninterest expense                                        |   |   | 10,613 |   |   |   | 10,553 |   |
|                                                             |   |   |   |   |   |   |   |   |
| Income before income tax expense and noncontrolling interest     |   |   |   |   |   |   |   |   |
| in net income of consolidated subsidiary                         |   |   | 1,050  |   |   |   | 966 |   |
| Income tax expense                                               |   |   | 386    |   |   |   | 358 |   |
| Net income before noncontrolling interest in net income          |   |   |   |   |   |   |   |   |
| of consolidated subsidiary                                       |   |   | 664    |   |   |   | 608 |   |
| Noncontrolling interest in net income of consolidated subsidiary |   |   | 56     |   |   |   | 51 |   |
| Net income of FedFirst Financial Corporation                     |   | $      | 608    |   |   | $      | 557 |   |
|                                                             |   |   |   |   |   |   |   |   |
| Earnings per share:                                              |   |   |   |   |   |   |   |   |
| Basic and diluted                                                |   | $      | 0.21   |   |   | $      | 0.19 |   |

----

----

CONS

|                               |   |   |   |   |       |   |   |     |   |   | Accumulated       |   |   |     |   |   | Common   |   |   | Non-        |   |   | Total    |   |   |    |   |
|------------------------------------|--------|--------|--------|--------|------------|--------|--------|----------|--------|--------|-------------------|--------|--------|----------|--------|--------|----------|--------|--------|-------------|--------|--------|----------|--------|--------|---------|--------|
|                               |   |   |   |   | Additional |   |   |     |   |   | Other             |   |   |     |   |   | Stock    |   |   | controlling |   |   | Stock-   |   |   | Compre- |   |
|                               |   | Common |   |   | Paid-in-   |   |   | Retained |   |   | Compre-           |   |   | Unearned |   |   | Held in  |   |   | Interest in |   |   | holders' |   |   | hensive |   |
|                               |   | Stock  |   |   | Capital    |   |   | Earnings |   |   | hensive Loss |   |   | ESOP     |   |   | Treasury |   |   | Subsidiary  |   |   | Equity   |   |   | Income  |   |
| (Dollars in thousands)             |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |
|                               |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |
| Balance at January 1, 2009         |   | $      | 67     |   |       | $      | 29,291 |     |   | $      | 15,930            |   |   | $        | (1,111 | )      |     | $      | (1,901 | )           |   | $      | (2,955   | )      |   | $       | 103    |   |   | $ | 39,424 |   |   |   |   |
| Cumulative effect adjustment as of |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |
| April 1, 2009 for the noncredit-   |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |
| related portion of other-than-     |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |
| temporary impairment losses        |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |
| previously recognized in earnings, |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |
| net of tax of $(584)               |   |   | -      |   |       |   | -      |     |   |   | 1,132             |   |   |     | (1,132 | )      |     |   | -      |        |   |   | -        |   |   |    | -      |   |   |   | - |   |   |   |   |
| Comprehensive income:              |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |
| Net income                         |   |   | -      |   |       |   | -      |     |   |   | 557               |   |   |     | -      |   |     |   | -      |        |   |   | -        |   |   |    | 51     |   |   |   | 608 |   |   | $ | 608 |   |
| Reclassification adjustment        |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| on sales of securities             |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| available-for-sale,                |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| net of tax of $(11)                |   |   | -      |   |       |   | -      |     |   |   | -                 |   |   |     | (17    | )      |     |   | -      |        |   |   | -        |   |   |    | -      |   |   |   | (17 | ) |   |   | (17 | ) |
| Unrealized gain on securities      |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| available-for-sale,                |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| net of tax of $1,432               |   |   | -      |   |       |   | -      |     |   |   | -                 |   |   |     | 2,221  |   |     |   | -      |        |   |   | -        |   |   |    | -      |   |   |   | 2,221 |   |   |   | 2,221 |   |
| Purchase of common stock           |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| stock to be held in                |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| treasury (8,666 shares)            |   |   | -      |   |       |   | -      |     |   |   | -                 |   |   |     | -      |   |     |   | -      |        |   |   | (77      | )      |   |    | -      |   |   |   | (77 | ) |   |   |   |   |
| ESOP shares committed to be        |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| released (8,182 shares)            |   |   | -      |   |       |   | (110   | )        |   |   | -                 |   |   |     | -      |   |     |   | 173    |        |   |   | -        |   |   |    | -      |   |   |   | 63 |   |   |   |   |   |
| Stock-based compensation           |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| expense                            |   |   | -      |   |       |   | 296    |     |   |   | -                 |   |   |     | -      |   |     |   | -      |        |   |   | -        |   |   |    | -      |   |   |   | 296 |   |   |   |   |   |
| Stock awards issued                |   |   | -      |   |       |   | (41    | )        |   |   | -                 |   |   |     | -      |   |     |   | -      |        |   |   | 41       |   |   |    |   |   |   |   | - |   |   |   |   |   |
| Stock awards forfeited             |   |   | -      |   |       |   | 122    |     |   |   | -                 |   |   |     | -      |   |     |   | -      |        |   |   | (122     | )      |   |    | -      |   |   |   | - |   |   |   |   |   |
| Distribution to noncontrolling     |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| shareholder                        |   |   | -      |   |       |   | -      |     |   |   | -                 |   |   |     | -      |   |     |   | -      |        |   |   | -        |   |   |    | (75    | ) |   |   | (75 | ) |   |   |   |   |
| Total comprehensive income         |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   | 2,812 |   |
| Less: Comprehensive income         |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| attributable to the noncontrolling |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |
| interest in subsidiary             |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   | 51 |   |
| Comprehensive income attributable  |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |
| to FedFirst Financial Corporation  |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   | $ | 2,761 |   |
|                               |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| Balance at December 31, 2009       |   | $      | 67     |   |       | $      | 29,558 |     |   | $      | 17,619            |   |   | $        | (39    | )      |     | $      | (1,728 | )           |   | $      | (3,113   | )      |   | $       | 79     |   |   | $ | 42,443 |   |   |   |   |   |

----

----

|                                  |   |   |   |   |       |   |   |     |   |   | Accumulated       |   |   |     |   |   | Common   |   |   | Non-        |   |   | Total    |   |   |    |   |
|---------------------------------------|--------|--------|--------|--------|------------|--------|--------|----------|--------|--------|-------------------|--------|--------|----------|--------|--------|----------|--------|--------|-------------|--------|--------|----------|--------|--------|---------|--------|
|                                  |   |   |   |   | Additional |   |   |     |   |   | Other             |   |   |     |   |   | Stock    |   |   | controlling |   |   | Stock-   |   |   | Compre- |   |
|                                  |   | Common |   |   | Paid-in-   |   |   | Retained |   |   | Compre-           |   |   | Unearned |   |   | Held in  |   |   | Interest in |   |   | holders' |   |   | hensive |   |
|                                  |   | Stock  |   |   | Capital    |   |   | Earnings |   |   | hensive Loss |   |   | ESOP     |   |   | Treasury |   |   | Subsidiary  |   |   | Equity   |   |   | Income  |   |
| (Dollars in thousands)                |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |
|                                  |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |
| Balance at January 1, 2010            |   | $      | 67     |   |       | $      | 29,558 |     |   | $      | 17,619            |   |   | $        | (39    | )      |     | $      | (1,728 | )           |   | $      | (3,113   | )      |   | $       | 79     |   |   | $ | 42,443 |   |   |   |   |
| Comprehensive income:                 |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |
| Net income                            |   |   | -      |   |       |   | -      |     |   |   | 608               |   |   |     | -      |   |     |   | -      |        |   |   | -        |   |   |    | 56     |   |   |   | 664 |   |   | $ | 664 |   |
| Reclassification adjustment           |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| on sales of securities                |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| available-for-sale,                   |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| net of tax of $190                    |   |   | -      |   |       |   | -      |     |   |   | -                 |   |   |     | 294    |   |     |   | -      |        |   |   | -        |   |   |    | -      |   |   |   | 294 |   |   |   | 294 |   |
| Unrealized loss on securities         |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| available-for-sale,                   |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| net of tax of $(247)                  |   |   | -      |   |       |   | -      |     |   |   | -                 |   |   |     | (383   | )      |     |   | -      |        |   |   | -        |   |   |    | -      |   |   |   | (383 | ) |   |   | (383 | ) |
| Corporate reorganization              |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| Exchange of common stock held         |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |
| by FedFirst Financial Mutual          |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |
| Holding Company                       |   |   | (36    | )      |       |   | 19     |     |   |   | -                 |   |   |     | -      |   |     |   | -      |        |   |   | -        |   |   |    | -      |   |   |   | (17 | ) |   |   |   |   |
| Retirement of common stock            |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |
| held in treasury                      |   |   | (4     | )      |       |   | (3,145 | )        |   |   | -                 |   |   |     | -      |   |     |   | -      |        |   |   | 3,149    |   |   |    | -      |   |   |   | - |   |   |   |   |   |
| Exchange of common stock              |   |   | (14    | )      |       |   | 15     |     |   |   | -                 |   |   |     | -      |   |     |   | -      |        |   |   | -        |   |   |    | -      |   |   |   | 1 |   |   |   |   |   |
| Stock offering proceeds, net of       |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |
| offering expenses                     |   |   | 17     |   |       |   | 15,338 |     |   |   | -                 |   |   |     | -      |   |     |   | -      |        |   |   | -        |   |   |    | -      |   |   |   | 15,355 |   |   |   |   |   |
| Purchase of common stock              |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| stock to be held in                   |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| treasury (1,625 shares)               |   |   | -      |   |       |   | -      |     |   |   | -                 |   |   |     | -      |   |     |   | -      |        |   |   | (16      | )      |   |    | -      |   |   |   | (16 | ) |   |   |   |   |
| ESOP shares committed to be           |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| released (8,182 shares)               |   |   | -      |   |       |   | (82    | )        |   |   | -                 |   |   |     | -      |   |     |   | 173    |        |   |   | -        |   |   |    | -      |   |   |   | 91 |   |   |   |   |   |
| Stock-based compensation              |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| expense                               |   |   | -      |   |       |   | 293    |     |   |   | -                 |   |   |     | -      |   |     |   | -      |        |   |   | -        |   |   |    | -      |   |   |   | 293 |   |   |   |   |   |
| Stock awards forfeited                |   |   | -      |   |       |   | 20     |     |   |   | -                 |   |   |     | -      |   |     |   | -      |        |   |   | (20      | )      |   |    | -      |   |   |   | - |   |   |   |   |   |
| Distribution to noncontrolling        |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| shareholder                           |   |   | -      |   |       |   | -      |     |   |   | -                 |   |   |     | -      |   |     |   | -      |        |   |   | -        |   |   |    | (51    | ) |   |   | (51 | ) |   |   |   |   |
| Cash dividends paid ($0.03 per share) |   |   | -      |   |       |   | -      |     |   |   | (87               | )      |   |     | -      |   |     |   | -      |        |   |   | -        |   |   |    | -      |   |   |   | (87 | ) |   |   |   |   |
| Total comprehensive income            |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   | 575 |   |
| Less: Comprehensive income            |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| attributable to the noncontrolling    |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |
| interest in subsidiary                |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   | 56 |   |
| Comprehensive income attributable     |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |
| to FedFirst Financial Corporation     |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   | $ | 519 |   |
|                                  |   |   |   |   |       |   |   |     |   |   |              |   |   |     |   |   |     |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| Balance at December 31, 2010          |   | $      | 30     |   |       | $      | 42,016 |     |   | $      | 18,140            |   |   | $        | (128   | )      |     | $      | (1,555 | )           |   | $      | -        |   |   | $       | 84     |   |   | $ | 58,587 |   |   |   |   |   |

----

----

CON

| Years Ended December 31,                                                     |   | 2010   |    |   | 2009   |   |
|------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
| (Dollars in thousands)                                                       |   |   |    |   |   |   |
|                                                                         |   |   |    |   |   |   |
| Cash flows from operating activities:                                        |   |   |    |   |   |   |
| Net income                                                                   |   | $      | 608     |   |   | $      | 557 |   |
| Adjustments to reconcile net income to net cash provided                     |   |   |    |   |   |   |   |   |
| by operating activities                                                      |   |   |    |   |   |   |   |   |
| Minority interest in net income of consolidated subsidiary                   |   |   | 56      |   |   |   | 51 |   |
| Provision for loan losses                                                    |   |   | 850     |   |   |   | 1,090 |   |
| Depreciation                                                                 |   |   | 525     |   |   |   | 563 |   |
| Amortization of intangibles                                                  |   |   | 110     |   |   |   | 98 |   |
| Net loss (gain) on sales of available-for-sale securities                    |   |   | 658     |   |   |   | (73 | ) |
| Impairment loss on real estate owned                                         |   |   | 206     |   |   |   | 124 |   |
| Net loss (gain) on sales of real estate owned                                |   |   | 42      |   |   |   | (46 | ) |
| Deferred income tax expense                                                  |   |   | 477     |   |   |   | 752 |   |
| Net accretion of security premiums and loan costs                            |   |   | 145     |   |   |   | 187 |   |
| Noncash expense for ESOP                                                     |   |   | 90      |   |   |   | 63 |   |
| Noncash expense for stock-based compensation                                 |   |   | 293     |   |   |   | 296 |   |
| Increase in bank-owned life insurance                                        |   |   | (284    | )      |   |   | (288 | ) |
| Decrease (increase) in other assets                                          |   |   | 173     |   |   |   | (1,010 | ) |
| Decrease in other liabilities                                                |   |   | (707    | )      |   |   | (367 | ) |
| Net cash provided by operating activities                                    |   |   | 3,242   |   |   |   | 1,997 |   |
|                                                                         |   |   |    |   |   |   |   |   |
| Cash flows from investing activities:                                        |   |   |    |   |   |   |   |   |
| Net loan repayments (originations)                                           |   |   | 8,188   |   |   |   | (11,731 | ) |
| Proceeds from maturities, calls and and principal repayments of              |   |   |    |   |   |   |   |   |
| securities available-for-sale                                                |   |   | 19,884  |   |   |   | 23,152 |   |
| Proceeds from sales of securities available-for-sale                         |   |   | 14,449  |   |   |   | 4,094 |   |
| Purchases of securities available-for-sale                                   |   |   | (34,352 | )      |   |   | (17,973 | ) |
| Purchases of premises and equipment                                          |   |   | (395    | )      |   |   | (239 | ) |
| Acquisition of Allsurance Insurance Agency                                   |   |   | -       |   |   |   | (525 | ) |
| Decrease in FHLB stock, at cost                                              |   |   | 345     |   |   |   | - |   |
| Proceeds from sales of real estate owned                                     |   |   | 919     |   |   |   | 147 |   |
| Net cash provided by (used in) investing activities                          |   |   | 9,038   |   |   |   | (3,075 | ) |
|                                                                         |   |   |    |   |   |   |   |   |
| Cash flows from financing activities:                                        |   |   |    |   |   |   |   |   |
| Net increase (decrease) in short-term borrowings                             |   |   | 2,400   |   |   |   | (4,200 | ) |
| Proceeds from long-term borrowings                                           |   |   | 12,000  |   |   |   | 22,100 |   |
| Repayments of long-term borrowings                                           |   |   | (50,018 | )      |   |   | (37,799 | ) |
| Net increase in deposits                                                     |   |   | 9,981   |   |   |   | 20,777 |   |
| (Decrease) increase in advance payments by borrowers for taxes and insurance |   |   | (20     | )      |   |   | 1 |   |
| Purchases of common stock to be held in treasury                             |   |   | (16     | )      |   |   | (77 | ) |
| Net stock offering proceeds                                                  |   |   | 15,355  |   |   |   | - |   |
| Cash dividends paid                                                          |   |   | (87     | )      |   |   | - |   |
| Distribution to noncontrolling shareholder                                   |   |   | (51     | )      |   |   | (75 | ) |
| Net cash (used in) provided by financing activities                          |   |   | (10,456 | )      |   |   | 727 |   |
|                                                                         |   |   |    |   |   |   |   |   |
| Net increase (decrease) in cash and cash equivalents                         |   |   | 1,824   |   |   |   | (351 | ) |
| Cash and cash equivalents, beginning of year                                 |   |   | 7,496   |   |   |   | 7,847 |   |
| Cash and cash equivalents, end of year                                       |   | $      | 9,320   |   |   | $      | 7,496 |   |

----

----

| Supplemental cash flow information:             |   |   |   |   |   |   |
|-------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Cash paid for:                                  |   |   |   |   |   |   |
| Interest on deposits and borrowings             |   | $      | 6,972  |   |   | $      | 9,114 |   |
| Income tax expense                              |   |   | 488    |   |   |   | 204 |   |
|                                            |   |   |   |   |   |   |   |   |
| Noncash activities:                             |   |   |   |   |   |   |   |   |
| Real estate acquired in settlement of loans     |   | $      | 1,170  |   |   | $      | 405 |   |
| Extinguishment of common stock held in treasury |   |   | 3,149  |   |   |   | - |   |

----

----

NOTES

|   | The accompanying unaudited Consolidated Financial Statements include the accounts of FedFirst Financial Corporation (“FedFirst Financial” or the “Company”), a stock holding company established in 2010, whose wholly owned subsidiary is First Federal Savings Bank (“First Federal” or the “Bank”), a federally chartered stock savings bank, which owns FedFirst Exchange Corporation (“FFEC”). FFEC has an 80% controlling interest in Exchange Underwriters, Inc. (“Exchange Underwriters”). Exchange Underwriters is a full-service, independent insurance agency that offers property and casualty, commercial liability, surety and other insurance products. All significant intercompany transactions have been eliminated. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The Company completed its conversion from the mutual holding company form of organization to the stock holding company form on September 21, 2010. As a result of the conversion, FedFirst Financial Corporation, a newly formed state-chartered corporation, became the holding company for First Federal Savings Bank, and FedFirst Financial Mutual Holding Company and the former FedFirst Financial Corporation ceased to exist. As part of the conversion, all outstanding shares of the former FedFirst Financial Corporation common stock (other than those owned by FedFirst Financial Mutual Holding Company) were converted into the right to receive 0.4735 of a share of the newly formed FedFirst Financial Corporation common stock resulting in 1,270,484 shares issued in the exchange. In addition, a total of 1,722,185 shares of common stock, par value $0.01 per share, were sold in the subscription, community and syndicated community offerings at the price of $10.00 per share or $17.2 million in the aggregate. Treasury stock held was retired. The completion of the Company’s public offering raised $15.4 million in proceeds, net of $1.9 million in offering expenses.  All applicable share information was converted by 0.4735 conversion ratio for comparability purposes. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | First Federal operates as a community-oriented financial institution offering residential, multi-family and commercial mortgages, consumer loans and commercial business loans as well as a variety of deposit products for individuals and businesses from nine locations in southwestern Pennsylvania. First Federal conducts insurance brokerage activities through Exchange Underwriters In March 2009, Exchange Underwriters expanded its operation through the acquisition of the Allsurance Insurance Agency (“Allsurance”), which is a full service independent insurance agency that offers life and property and casualty insurance for individuals and small businesses.  The Bank is subject to competition from other financial institutions and to the regulations of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ·   | Incremental direct costs of contract acquisition which are those costs that result directly from and are essential to the contract transaction and would not have been incurred by the insurance entity had the contract transaction not occurred. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ·   | The portion of an employee’s total compensation and payroll-related fringe benefits for time spent performing activities for acquired contracts that are directly related to underwriting, issuing and processing policies, medical and inspection, and sales force contract selling |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Other costs directly related to underwriting, issuing and processing policies, medical and inspection, and sales force contract selling that would not have been incurred had the contracts not been successfully acquired |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Advertising costs that meet the criteria for capitalization as direct-response advertising under ASC 340-20-25-4, Other Assets and Deferred Costs: Capitalized Advertising Costs. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |                                |   |      |   |   | Gross      |   |   | Gross      |   |   |   |   |
|--------|-------------------------------------|--------|-----------|--------|--------|------------|--------|--------|------------|--------|--------|--------|--------|
|   |                                |   | Amortized |   |   | Unrealized |   |   | Unrealized |   |   | Fair   |   |
|   | December 31, 2010                   |   | Cost      |   |   | Gains      |   |   | Losses     |   |   | Value  |   |
|   | Government-sponsored enterprises    |   | $         | 7,580  |   |       | $      | 36     |       |   | $      | 2      |   |   | $ | 7,614 |   |
|   | Municipal bonds                     |   |      | 4,012  |   |       |   | 284    |       |   |   | -      |   |   |   | 4,296 |   |
|   | Mortgage-backed                     |   |      | 32,747 |   |       |   | 1,306  |       |   |   | 64     |   |   |   | 33,989 |   |
|   | REMICs                              |   |      | 30,580 |   |       |   | 1,095  |       |   |   | 110    |   |   |   | 31,565 |   |
|   | Corporate debt                      |   |      | 3,995  |   |       |   | -      |       |   |   | 2,755  |   |   |   | 1,240 |   |
|   | Equities                            |   |      | 49     |   |       |   | -      |       |   |   | -      |   |   |   | 49 |   |
|   | Total securities available-for-sale |   | $         | 78,963 |   |       | $      | 2,721  |       |   | $      | 2,931  |   |   | $ | 78,753 |   |

|   |                                |   |      |   |   | Gross      |   |   | Gross      |   |   |   |   |
|--------|-------------------------------------|--------|-----------|--------|--------|------------|--------|--------|------------|--------|--------|--------|--------|
|   |                                |   | Amortized |   |   | Unrealized |   |   | Unrealized |   |   | Fair   |   |
|   | December 31, 2009                   |   | Cost      |   |   | Gains      |   |   | Losses     |   |   | Value  |   |
|   | Government-sponsored enterprises    |   | $         | 5,954  |   |       | $      | 15     |       |   | $      | 224    |   |   | $ | 5,745 |   |
|   | Municipal bonds                     |   |      | 4,014  |   |       |   | 257    |       |   |   | -      |   |   |   | 4,271 |   |
|   | Mortgage-backed                     |   |      | 35,467 |   |       |   | 1,476  |       |   |   | 7      |   |   |   | 36,936 |   |
|   | REMICs                              |   |      | 30,144 |   |       |   | 1,178  |       |   |   | 857    |   |   |   | 30,465 |   |
|   | Corporate debt                      |   |      | 3,995  |   |       |   | -      |       |   |   | 1,902  |   |   |   | 2,093 |   |
|   | Equities                            |   |      | 49     |   |       |   | -      |       |   |   | -      |   |   |   | 49 |   |
|   | Total securities available-for-sale |   | $         | 79,623 |   |       | $      | 2,926  |       |   | $      | 2,990  |   |   | $ | 79,559 |   |

----

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|   |                       |   | Amortized |   |   | Fair   |   |
|--------|----------------------------|--------|-----------|--------|--------|--------|--------|
|   |                       |   | Cost      |   |   | Value  |   |
|   | Due in one year or less    |   | $         | -      |   |   | $      | - |   |
|   | Due from one to five years |   |      | 2,019  |   |   |   | 2,111 |   |
|   | Due from five to ten years |   |      | 16,139 |   |   |   | 16,382 |   |
|   | Due after ten years        |   |      | 60,756 |   |   |   | 60,211 |   |
|   | No scheduled maturity      |   |      | 49     |   |   |   | 49 |   |
|   | Total                      |   | $         | 78,963 |   |   | $      | 78,753 |   |

|   |                                      |   | Less than 12 months |   |   | 12 months or more |   |   | Total      |   |
|--------|-------------------------------------------|--------|---------------------|--------|--------|-------------------|--------|--------|------------|--------|
|   |                                      |   | Number              |   |   |              |   |   | Gross      |   |   | Number |   |   |   |   |   | Gross |   |   | Number |   |   |   |   |   | Gross |   |
|   |                                      |   | of                  |   |   | Fair              |   |   | Unrealized |   |   | of |   |   | Fair |   |   | Unrealized |   |   | of |   |   | Fair |   |   | Unrealized |   |
|   | December 31, 2010                         |   | Securities          |   |   | Value             |   |   | Losses     |   |   | Securities |   |   | Value |   |   | Losses |   |   | Securities |   |   | Value |   |   | Losses |   |
|   | Government-sponsored enterprises          |   |                | 1      |   |              | $      | 2,292  |       |   | $ | 2 |   |   |   | - |   |   | $ | - |   |   | $ | - |   |   |   | 1 |   |   | $ | 2,292 |   |   | $ | 2 |   |
|   | Mortgage-backed                           |   |                | 3      |   |              |   | 8,168  |       |   |   | 64 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 3 |   |   |   | 8,168 |   |   |   | 64 |   |
|   | REMICs - Government-sponsored enterprises |   |                | 2      |   |              |   | 4,895  |       |   |   | 110 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2 |   |   |   | 4,895 |   |   |   | 110 |   |
|   | Corporate debt                            |   |                | -      |   |              |   | -      |       |   |   | - |   |   |   | 3 |   |   |   | 1,240 |   |   |   | 2,755 |   |   |   | 3 |   |   |   | 1,240 |   |   |   | 2,755 |   |
|   | Total securities temporarily impaired     |   |                | 6      |   |              | $      | 15,355 |       |   | $ | 176 |   |   |   | 3 |   |   | $ | 1,240 |   |   | $ | 2,755 |   |   |   | 9 |   |   | $ | 16,595 |   |   | $ | 2,931 |   |

----

----

|                                  |   | Less than 12 months |   |   | 12 months or more |   |   | Total      |   |
|---------------------------------------|--------|---------------------|--------|--------|-------------------|--------|--------|------------|--------|
|                                  |   | Number              |   |   |              |   |   | Gross      |   |   | Number |   |   |   |   |   | Gross |   |   | Number |   |   |   |   |   | Gross |   |
|                                  |   | of                  |   |   | Fair              |   |   | Unrealized |   |   | of |   |   | Fair |   |   | Unrealized |   |   | of |   |   | Fair |   |   | Unrealized |   |
| December 31, 2009                     |   | Securities          |   |   | Value             |   |   | Losses     |   |   | Securities |   |   | Value |   |   | Losses |   |   | Securities |   |   | Value |   |   | Losses |   |
| Government-sponsored enterprises      |   |                | 1      |   |              | $      | 2,775  |       |   | $ | 224 |   |   |   | - |   |   | $ | - |   |   | $ | - |   |   |   | 1 |   |   | $ | 2,775 |   |   | $ | 224 |   |
|                                  |   |                |   |   |              |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Mortgage-backed                       |   |                | 9      |   |              |   | 2,111  |       |   | $ | 6 |   |   |   | 1 |   |   |   | 16 |   |   |   | 1 |   |   |   | 10 |   |   | $ | 2,127 |   |   | $ | 7 |   |
|                                  |   |                |   |   |              |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| REMICs:                               |   |                |   |   |              |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Private label issuer:                 |   |                |   |   |              |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Prime fixed and adjustable rate       |   |                | -      |   |              |   | -      |       |   |   | - |   |   |   | 3 |   |   |   | 955 |   |   |   | 25 |   |   |   | 3 |   |   |   | 955 |   |   |   | 25 |   |
| Alt-A fixed rate                      |   |                | 4      |   |              |   | 2,010  |       |   |   | 622 |   |   |   | 3 |   |   |   | 2,755 |   |   |   | 201 |   |   |   | 7 |   |   |   | 4,765 |   |   |   | 823 |   |
| Government-sponsored enterprises      |   |                | 3      |   |              |   | 598    |       |   |   | 7 |   |   |   | 1 |   |   |   | 638 |   |   |   | 2 |   |   |   | 4 |   |   |   | 1,236 |   |   |   | 9 |   |
| Total REMICs                          |   |                | 7      |   |              |   | 2,608  |       |   |   | 629 |   |   |   | 7 |   |   |   | 4,348 |   |   |   | 228 |   |   |   | 14 |   |   |   | 6,956 |   |   |   | 857 |   |
|                                  |   |                |   |   |              |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate debt                        |   |                | -      |   |              |   | -      |       |   |   | - |   |   |   | 3 |   |   |   | 2,093 |   |   |   | 1,902 |   |   |   | 3 |   |   |   | 2,093 |   |   |   | 1,902 |   |
| Total securities temporarily impaired |   |                | 17     |   |              | $      | 7,494  |       |   | $ | 859 |   |   |   | 11 |   |   | $ | 6,457 |   |   | $ | 2,131 |   |   |   | 28 |   |   | $ | 13,951 |   |   | $ | 2,990 |   |

|              |   | Less than 12 months |   |   | 12 months or more |   |   | Total      |
|-------------------|--------|---------------------|--------|--------|-------------------|--------|--------|------------|
|              |   |                |   |   |              |   |   | Gross      |   |   |   |   |   |   |   |   | Gross |   |   |   |   |   |   |   |   | Gross |
|              |   | Number of           |   |   | Fair              |   |   | Unrealized |   |   | Number of |   |   | Fair |   |   | Unrealized |   |   | Number of |   |   | Fair |   |   | Unrealized |
| December 31, 2009 |   | Securities          |   |   | Value             |   |   | Losses     |   |   | Securities |   |   | Value |   |   | Losses |   |   | Securities |   |   | Value |   |   | Losses |
| Vintage           |   |                |   |   |              |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 2003              |   |                | -      |   |              | $      | -      |       |   | $ | - |   |   |   | 3 |   |   | $ | 1,355 |   |   | $ | 21 |   |   |   | 3 |   |   | $ | 1,355 |   |   | $ | 21 |   |
| 2004              |   |                | -      |   |              |   | -      |       |   |   | - |   |   |   | 1 |   |   |   | 374 |   |   |   | 16 |   |   |   | 1 |   |   |   | 374 |   |   |   | 16 |   |
| 2005              |   |                | 1      |   |              |   | 365    |       |   |   | 38 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1 |   |   |   | 365 |   |   |   | 38 |   |
| 2006              |   |                | 2      |   |              |   | 1,233  |       |   |   | 416 |   |   |   | 2 |   |   |   | 1,981 |   |   |   | 189 |   |   |   | 4 |   |   |   | 3,214 |   |   |   | 605 |   |
| 2007              |   |                | 1      |   |              |   | 412    |       |   |   | 168 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1 |   |   |   | 412 |   |   |   | 168 |   |
| Total             |   |                | 4      |   |              | $      | 2,010  |       |   | $ | 622 |   |   |   | 6 |   |   | $ | 3,710 |   |   | $ | 226 |   |   |   | 10 |   |   | $ | 5,720 |   |   | $ | 848 |   |

----

----

|   | Key Assumptions |   | Percentage |   |
|--------|-----------------|--------|------------|--------|
|   | Prepayment rate |   | 6 CPR      |   |
|   | Loss Severity   |   | 39 - 63%   |   |
|   | Default         |   | 5 - 10.5%  |   |

----

----

| Pool        | Class     | Tranche |   | Amortized Cost |   |   | Fair Value |   |   | Unrealized Loss |   | S&P / Fitch Rating |   | Current Number of Insurance Companies |   |   | Total Collateral |   |   | Current Deferrals and Defaults |   |    | Performing Collateral |   |   | Additional Immediate Deferrals / Defaults Before Causing an Interest Shortfall (a) |   |   | Additional Immediate Deferrals / Defaults Before Causing a Break in Yield (b) |    |
|-------------|-----------|---------|--------|----------------|--------|--------|------------|--------|--------|-----------------|--------|------------------------|--------|---------------------------------------|--------|--------|------------------|--------|--------|--------------------------------|--------|---------|-----------------------|--------|--------|------------------------------------------------------------------------------------|--------|--------|-------------------------------------------------------------------------------|---------|
| I-PreTSL I  | Mezzanine | B-3     |   | $              | 1,500  |   |       | $      | 476    |            |   | $                      | (1,024 | )                                     | B+/CCC |   |             | 17     |   |                           | $      | 193,500 |                  |   | $      | 17,500                                                                             |   |   | $                                                                             | 176,000 |   |   | $ | 101,500 |   |   | $ | 54,000 |   |
| I-PreTSL II | Mezzanine | B-3     |   |           | 2,495  |   |       |   | 764    |            |   |                   | (1,731 | )                                     | B+/B   |   |             | 29     |   |                           |   | 378,000 |                  |   |   | -                                                                                  |   |   |                                                                          | 378,000 |   |   |   | 153,000 |   |   |   | 142,000 |   |
|        |      |    |   | $              | 3,995  |   |       | $      | 1,240  |            |   | $                      | (2,755 | )                                     |   |   |             |   |   |                           |   |    |                  |   |   |                                                                               |   |   |                                                                          |    |   |   |   |   |   |   |   |   |   |

|   | (a) | A temporary interest shortfall is caused by an amount of deferrals/defaults high enough such that there is insufficient cash flow available to pay current interest on the given tranche or by breaching the principal coverage test of the tranche immediately senior to the given tranche. Amounts presented represent additional deferrals/defaults beyond those currently existing that must occur before the security would experience an interest shortfall. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | A break in yield for a given tranche means that deferrals/defaults have reached such a level that the tranche would not receive all of its contractual cash flows (principal and interest) by maturity (so not just a temporary interest shortfall, but an actual loss in yield on the investment). In other words, the magnitude of the defaults/deferrals has depleted all of the credit enhancement (excess interest and over-collateralization) beneath the given tranche. Amounts presented represent additional deferrals/defaults beyond those currently existing that must occur before the security would experience a break in yield. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

----

|   | December 31,                         |   | 2010   |    |   | 2009   |   |
|--------|--------------------------------------|--------|--------|---------|--------|--------|--------|
|   | Real estate - mortgage:              |   |   |    |   |   |   |
|   | One-to-four family residential       |   |   |    |   |   |   |
|   | Originated                           |   | $      | 121,376 |   |   | $      | 134,201 |   |
|   | Purchased                            |   |   | 20,591  |   |   |   | 23,872 |   |
|   | Total one-to-four family residential |   |   | 141,967 |   |   |   | 158,073 |   |
|   |                                 |   |   |    |   |   |   |   |   |
|   | Multi-family                         |   |   |    |   |   |   |   |   |
|   | Originated                           |   |   | 4,082   |   |   |   | 3,970 |   |
|   | Purchased                            |   |   | 5,261   |   |   |   | 6,021 |   |
|   | Total multi-family                   |   |   | 9,343   |   |   |   | 9,991 |   |
|   |                                 |   |   |    |   |   |   |   |   |
|   | Commercial                           |   |   | 33,732  |   |   |   | 31,405 |   |
|   | Total real estate - mortgage         |   |   | 185,042 |   |   |   | 199,469 |   |
|   |                                 |   |   |    |   |   |   |   |   |
|   | Real estate - construction:          |   |   |    |   |   |   |   |   |
|   | Residential                          |   |   | 6,787   |   |   |   | 3,028 |   |
|   | Commercial                           |   |   | 736     |   |   |   | 2,576 |   |
|   | Total real estate - construction     |   |   | 7,523   |   |   |   | 5,604 |   |
|   |                                 |   |   |    |   |   |   |   |   |
|   | Consumer:                            |   |   |    |   |   |   |   |   |
|   | Home equity                          |   |   |    |   |   |   |   |   |
|   | Loan to value of 80% or less         |   |   | 22,628  |   |   |   | 17,802 |   |
|   | Loan to value of greater than 80%    |   |   | 8,624   |   |   |   | 9,288 |   |
|   | Total home equity                    |   |   | 31,252  |   |   |   | 27,090 |   |
|   | Other                                |   |   | 2,090   |   |   |   | 2,243 |   |
|   | Total consumer                       |   |   | 33,342  |   |   |   | 29,333 |   |
|   |                                 |   |   |    |   |   |   |   |   |
|   | Commercial business                  |   |   | 10,875  |   |   |   | 10,327 |   |
|   | Total loans                          |   | $      | 236,782 |   |   | $      | 244,733 |   |
|   |                                 |   |   |    |   |   |   |   |   |
|   | Net premium on loans purchased       |   |   | 116     |   |   |   | 108 |   |
|   | Net deferred loan costs              |   |   | 697     |   |   |   | 829 |   |
|   | Loans in process                     |   |   | (4,716  | )      |   |   | (2,774 | ) |
|   | Allowance for loan losses            |   |   | (2,824  | )      |   |   | (2,509 | ) |
|   | Loans, net                           |   | $      | 230,055 |   |   | $      | 240,387 |   |

----

----

----

----

----

----

| December 31,                               |   | 2010   |   |   | 2009   |   |
|--------------------------------------------|--------|--------|--------|--------|--------|--------|
| Nonaccrual loans:                          |   |   |   |   |   |   |
| Real estate - mortgage                     |   |   |   |   |   |   |
| One-to-four family residential             |   |   |   |   |   |   |
| Originated                                 |   | $      | 332    |   |   | $      | 137 |   |
| Purchased                                  |   |   | 394    |   |   |   | 227 |   |
| Total one-to-four family residential       |   |   | 726    |   |   |   | 364 |   |
|                                       |   |   |   |   |   |   |   |   |
| Multi-family                               |   |   |   |   |   |   |   |   |
| Originated                                 |   |   | -      |   |   |   | - |   |
| Purchased                                  |   |   | -      |   |   |   | 634 |   |
| Total multi-family                         |   |   | -      |   |   |   | 634 |   |
| Commercial                                 |   |   | 493    |   |   |   | 98 |   |
| Total real estate - mortgage               |   |   | 1,219  |   |   |   | 1,096 |   |
|                                       |   |   |   |   |   |   |   |   |
| Real estate - construction                 |   |   |   |   |   |   |   |   |
| Residential                                |   |   | -      |   |   |   | - |   |
| Commercial                                 |   |   | -      |   |   |   | - |   |
| Total real estate - construction           |   |   | -      |   |   |   | - |   |
|                                       |   |   |   |   |   |   |   |   |
| Consumer                                   |   |   |   |   |   |   |   |   |
| Home equity                                |   |   |   |   |   |   |   |   |
| Loan to value of 80% or less               |   |   | -      |   |   |   | 79 |   |
| Loan to value of greater than 80%          |   |   | -      |   |   |   | 45 |   |
| Total home equity                          |   |   | -      |   |   |   | 124 |   |
| Other                                      |   |   | -      |   |   |   | 11 |   |
| Total consumer                             |   |   | -      |   |   |   | 135 |   |
|                                       |   |   |   |   |   |   |   |   |
| Commercial business                        |   |   | -      |   |   |   | - |   |
| Total nonaccrual loans                     |   |   | 1,219  |   |   |   | 1,231 |   |
|                                       |   |   |   |   |   |   |   |   |
| Accruing loans past due 90 days or more    |   |   | -      |   |   |   | - |   |
| Total nonaccrual loans and accruing        |   |   |   |   |   |   |   |   |
| loans past due 90 days or more             |   |   | 1,219  |   |   |   | 1,231 |   |
| Real estate owned                          |   |   | 426    |   |   |   | 419 |   |
| Total nonperforming assets                 |   | $      | 1,645  |   |   | $      | 1,650 |   |
|                                       |   |   |   |   |   |   |   |   |
| Troubled debt restructurings:              |   |   |   |   |   |   |   |   |
| In nonaccrual status                       |   | $      | 493    |   |   | $      | - |   |
| Performing under modifed terms             |   |   | 672    |   |   |   | - |   |
| Total troubled debt restructurings         |   | $      | 1,165  |   |   | $      | - |   |
|                                       |   |   |   |   |   |   |   |   |
| Total nonperforming loans to total loans   |   |   | 0.51   | %      |   |   | 0.50 |   |
| Total nonperforming assets to total assets |   |   | 0.48   |   |   |   | 0.47 |   |

----

----

|   |                               |   |       |   |   | Unpaid    |   |   |      |   |   | Average    |   |   | Interest   |   |
|--------|------------------------------------|--------|------------|--------|--------|-----------|--------|--------|-----------|--------|--------|------------|--------|--------|------------|--------|
|   |                               |   | Recorded   |   |   | Principal |   |   | Related   |   |   | Recorded   |   |   | Income     |   |
|   |                               |   | Investment |   |   | Balance   |   |   | Allowance |   |   | Investment |   |   | Recognized |   |
|   | With no related allowance recorded |   |       |   |   |      |   |   |      |   |   |       |   |   |       |   |
|   | Commercial real estate             |   | $          | 493    |   |      | $      | 493    |      |   | $      | -          |   |   | $          | 547    |   |   | $ | 4 |   |
|   |                               |   |       |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
|   | With an allowance recorded         |   |       |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
|   | Commercial real estate             |   |       | 672    |   |      |   | 672    |      |   |   | 170        |   |   |       | 680    |   |   |   | 32 |   |
|   |                               |   |       |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
|   | Total                              |   |       |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
|   | Commercial real estate             |   | $          | 1,165  |   |      | $      | 1,165  |      |   | $      | 170        |   |   | $          | 1,227  |   |   | $ | 36 |   |

----

----

|              | Real estate - mortgage |   |    | Real estate-construction |   |         | Consumer |   |        |   |   |    |   |   |
|-------------------|------------------------|--------|---------|--------------------------|--------|--------------|----------|--------|-------------|--------|--------|---------|--------|--------|
|              |                   |   |    |                     |   |         |     |   |        |   |   |    |   |   |   |   |   |   |   |   |   | Home |   | Home |   |   |   |   |   |   |   |   |   |   |
|              | One-to-four            |   |    | One-to-four              |   |         |     |   |        |   |   |    |   |   |   |   |   |   |   |   |   | equity (loan |   | equity (loan |   |   |   |   |   |   |   |   |   |   |
|              | family                 |   |    | family                   |   | Multi-       |     |   | Multi-      |   |   |    |   |   |   |   |   |   |   |   | to value |   | to value |   |   |   |   |   | Com- |   |   |   |   |
|              | residential            |   |    | residential              |   | family       |     |   | family      |   |   | Com-    |   |   | Resi- |   |   | Com- |   |   | of 80% |   | of greater |   |   | Other |   |   | mercial |   |   | Loans |   |
| December 31, 2010 | (originated)           |   |    | (purchased)              |   | (originated) |     |   | (purchased) |   |   | mercial |   |   | dential |   |   | mercial |   |   | or less) |   | than 80%) |   |   | Consumer |   |   | business |   |   | Total |   |
| Grade:            |                   |   |    |                     |   |         |     |   |        |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Pass              |                   | $      | 121,044 |                     |   | $            | 20,197   |   |        | $      | 4,082  |    |   | $      | 5,261 |   |   | $ | 29,518 |   |   | $ | 6,787 |   |   | $ | 736 |   |   | $ | 22,483 |   |   | $ | 8,624 |   |   | $ | 2,077 |   |   | $ | 10,196 |   |   | $ | 231,005 |   |
| Special Mention   |                   |   | -       |                     |   |         | -        |   |        |   | -      |    |   |   | - |   |   |   | 2,319 |   |   |   | - |   |   |   | - |   |   |   | 145 |   |   |   | - |   |   |   | 13 |   |   |   | 679 |   |   |   | 3,156 |   |
| Substandard       |                   |   | 332     |                     |   |         | 394      |   |        |   | -      |    |   |   | - |   |   |   | 1,895 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,621 |   |
| Doubtful          |                   |   | -       |                     |   |         | -        |   |        |   | -      |    |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Loss              |                   |   | -       |                     |   |         | -        |   |        |   | -      |    |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Total             |                   | $      | 121,376 |                     |   | $            | 20,591   |   |        | $      | 4,082  |    |   | $      | 5,261 |   |   | $ | 33,732 |   |   | $ | 6,787 |   |   | $ | 736 |   |   | $ | 22,628 |   |   | $ | 8,624 |   |   | $ | 2,090 |   |   | $ | 10,875 |   |   | $ | 236,782 |   |

----

----

| December 31,                     |   | 2010        |   |   | 2009        |   |
|----------------------------------|--------|-------------|--------|--------|-------------|--------|
|                             |   |  30-59 |   |   |  60-89 |   |   | 90 Days |   |   |  30-59 |   |   |  60-89 |   |   | 90 Days |   |
|                             |   | Days        |   |   | Days        |   |   | or Greater |   |   | Days |   |   | Days |   |   | or Greater |   |
|                             |   | Past        |   |   | Past        |   |   | Past |   |   | Past |   |   | Past |   |   | Past |   |
|                             |   | Due         |   |   | Due         |   |   | Due |   |   | Due |   |   | Due |   |   | Due |   |
| Real estate - mortgage           |   |        |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| One-to-four family residential   |   |        |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Originated                       |   | $           | 1,109  |   |        | $      | 59 |   |   | $ | 332 |   |   | $ | 1,427 |   |   | $ | 225 |   |   | $ | 137 |   |
| Purchased                        |   |        | 260    |   |        |   | 168 |   |   |   | 394 |   |   |   | 371 |   |   |   | 216 |   |   |   | 227 |   |
| Total one-to-four family         |   |        |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| residential                      |   |        | 1,369  |   |        |   | 227 |   |   |   | 726 |   |   |   | 1,798 |   |   |   | 441 |   |   |   | 364 |   |
| Multi-family                     |   |        |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Originated                       |   |        | -      |   |        |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Purchased                        |   |        | -      |   |        |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 634 |   |
| Total multi-family               |   |        | -      |   |        |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 634 |   |
| Commercial                       |   |        | 753    |   |        |   | - |   |   |   | 68 |   |   |   | - |   |   |   | 503 |   |   |   | 98 |   |
| Total real estate - mortgage     |   |        | 2,122  |   |        |   | 227 |   |   |   | 794 |   |   |   | 1,798 |   |   |   | 944 |   |   |   | 1,096 |   |
|                             |   |        |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Real estate - construction       |   |        |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Residential                      |   |        | -      |   |        |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Commercial                       |   |        | -      |   |        |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Total real estate - construction |   |        | -      |   |        |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                             |   |        |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Consumer                         |   |        |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Home equity                      |   |        |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loan to value of 80% or less     |   |        | 89     |   |        |   | 133 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 79 |   |
| Loan to value of greater         |   |        |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  than 80%                   |   |        | -      |   |        |   | 32 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 45 |   |
| Total home equity                |   |        | 89     |   |        |   | 165 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 124 |   |
| Other                            |   |        | 2      |   |        |   | - |   |   |   | - |   |   |   | 8 |   |   |   | - |   |   |   | 8 |   |
| Total consumer                   |   |        | 91     |   |        |   | 165 |   |   |   | - |   |   |   | 8 |   |   |   | - |   |   |   | 132 |   |
|                             |   |        |   |   |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial business              |   |        | -      |   |        |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Total delinquencies              |   | $           | 2,213  |   |        | $      | 392 |   |   | $ | 794 |   |   | $ | 1,806 |   |   | $ | 944 |   |   | $ | 1,228 |   |

----

----

| ·   | Loans purchased in the secondary market.  Prior to September 2005, pools of multi-family and one-to-four family residential mortgage loans located in areas outside of our primary geographic lending area in southwestern Pennsylvania were acquired in the secondary market. Although these loans were underwritten to our lending standards, they are considered higher risk given our unfamiliarity with the geographic areas where the properties are located. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Home equity loans with a loan-to-value ratio greater than 80%. These loans are considered higher risk given the pressure on property values and reduced credit alternatives available to leveraged borrowers. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

----

|                       | Real estate - mortgage  |    |   | Real estate-construction |   |   | Consumer           |   |   |              |   |   |        |   |   |         |   |
|----------------------------|-------------------------|---------|--------|--------------------------|--------|--------|--------------------|--------|--------|-------------------|--------|--------|-------------|--------|--------|--------------|--------|
|                       |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                       | One-to-                 |    |   | One-to-                  |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   | Homeequity |   |   | Homeequity |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                       | four                    |    |   | four                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   | (loan |   |   | (loan |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                       | family                  |    |   | family                   |   |   | Multi-             |   |   | Multi-            |   |   |        |   |   |         |   |   |   |   |   | to value |   |   | to value |   |   |   |   |   | Com- |   |   |   |   |   |   |   |
|                       | residential(originated) |    |   | residential(purchased)   |   |   | family(originated) |   |   | family(purchased) |   |   | Com-mercial |   |   | Resi-dential |   |   | Com-mercial |   |   | of 80%or less) |   |   | of greaterthan 80%) |   |   | OtherConsumer |   |   | mercialbusiness |   |   | Unal-located |   |   | Total |   |
|                       |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loan Balance               | $                       | 121,376 |   |                     | $      | 20,591 |               |   | $      | 4,082             |   |   | $           | 5,261  |   |         | $      | 33,732 |   |   | $ | 6,787 |   |   | $ | 736 |   |   | $ | 22,628 |   |   | $ | 8,624 |   |   | $ | 2,090 |   |   | $ | 10,875 |   |   |   |   |   | $ | 236,782 |   |
|                       |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Allowance for loan losses: |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| December 31, 2009          | $                       | 641     |   |                     | $      | 323    |               |   | $      | 12                |   |   | $           | 117    |   |         | $      | 647 |   |   | $ | 4 |   |   | $ | 4 |   |   | $ | 168 |   |   | $ | 321 |   |   | $ | 31 |   |   | $ | 160 |   |   | $ | 81 |   |   | $ | 2,509 |   |
| Charge-offs                |                    | 82      |   |                     |   | 181    |               |   |   | -                 |   |   |        | 46     |   |         |   | - |   |   |   | - |   |   |   | - |   |   |   | 87 |   |   |   | 119 |   |   |   | 18 |   |   |   | 2 |   |   |   | - |   |   |   | 535 |   |
| Recoveries                 |                    | -       |   |                     |   | -      |               |   |   | -                 |   |   |        | -      |   |         |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Provision                  |                    | (1      | )      |                     |   | 291    |               |   |   | -                 |   |   |        | 56     |   |         |   | 157 |   |   |   | 6 |   |   |   | (3 | ) |   |   | 213 |   |   |   | 90 |   |   |   | 13 |   |   |   | 13 |   |   |   | 15 |   |   |   | 850 |   |
| December 31, 2010          | $                       | 558     |   |                     | $      | 433    |               |   | $      | 12                |   |   | $           | 127    |   |         | $      | 804 |   |   | $ | 10 |   |   | $ | 1 |   |   | $ | 294 |   |   | $ | 292 |   |   | $ | 26 |   |   | $ | 171 |   |   | $ | 96 |   |   | $ | 2,824 |   |
|                       |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Individually               |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| evaluated for              |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| impairment                 | $                       | -       |   |                     | $      | -      |               |   | $      | -                 |   |   | $           | -      |   |         | $      | 170 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 170 |   |
|                       |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Collectively               |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| evaluated                  |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| on historical loss         |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| experience                 |                    | 160     |   |                     |   | 156    |               |   |   | -                 |   |   |        | 80     |   |         |   | 56 |   |   |   | - |   |   |   | - |   |   |   | 90 |   |   |   | 128 |   |   |   | 20 |   |   |   | 3 |   |   |   | - |   |   |   | 693 |   |
|                       |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Collectively               |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| evaluated                  |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| on qualitative             |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| factors                    |                    | 398     |   |                     |   | 277    |               |   |   | 12                |   |   |        | 47     |   |         |   | 578 |   |   |   | 10 |   |   |   | 1 |   |   |   | 204 |   |   |   | 164 |   |   |   | 6 |   |   |   | 168 |   |   |   | - |   |   |   | 1,865 |   |
|                       |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Unallocated                |                    | -       |   |                     |   | -      |               |   |   | -                 |   |   |        | -      |   |         |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 96 |   |   |   | 96 |   |
|                       |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total allowance            |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for loan losses            | $                       | 558     |   |                     | $      | 433    |               |   | $      | 12                |   |   | $           | 127    |   |         | $      | 804 |   |   | $ | 10 |   |   | $ | 1 |   |   | $ | 294 |   |   | $ | 292 |   |   | $ | 26 |   |   | $ | 171 |   |   | $ | 96 |   |   | $ | 2,824 |   |
|                       |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Percent of Allowance       |                    | 19.8    | %      |                     |   | 15.3   | %                  |   |   | 0.4               | %      |   |        | 4.5    | %      |         |   | 28.5 | % |   |   | 0.4 | % |   |   | 0.0 | % |   |   | 10.4 | % |   |   | 10.3 | % |   |   | 0.9 | % |   |   | 6.1 | % |   |   | 3.4 | % |   |   | 100.0 | % |
|                       |                    |    |   |                     |   |   |               |   |   |              |   |   |        |   |   |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Percent of Loans (1)       |                    | 51.3    | %      |                     |   | 8.7    | %                  |   |   | 1.7               | %      |   |        | 2.2    | %      |         |   | 14.2 | % |   |   | 2.9 | % |   |   | 0.3 | % |   |   | 9.6 | % |   |   | 3.6 | % |   |   | 0.9 | % |   |   | 4.6 | % |   |   |   |   |   |   | 100.0 | % |

----

----

| Years Ended December 31,         |   | 2010   |   |   | 2009   |   |
|----------------------------------|--------|--------|--------|--------|--------|--------|
| Allowance at beginning of year   |   | $      | 2,509  |   |   | $      | 1,806 |   |
| Provision for loan losses        |   |   | 850    |   |   |   | 1,090 |   |
| Charge-offs:                     |   |   |   |   |   |   |   |   |
| Real estate - mortgage           |   |   |   |   |   |   |   |   |
| One-to-four family residential   |   |   |   |   |   |   |   |   |
| (originated)                     |   |   | (82    | )      |   |   | (32 | ) |
| One-to-four family residential   |   |   |   |   |   |   |   |   |
| (purchased)                      |   |   | (181   | )      |   |   | (105 | ) |
| Multi-family (originated)        |   |   | -      |   |   |   | - |   |
| Multi-family (purchased)         |   |   | (46    | )      |   |   | (130 | ) |
| Commercial                       |   |   | -      |   |   |   | (63 | ) |
| Total real estate - mortgage     |   |   | (309   | )      |   |   | (330 | ) |
|                             |   |   |   |   |   |   |   |   |
| Real estate - construction       |   |   |   |   |   |   |   |   |
| Residential                      |   |   | -      |   |   |   | - |   |
| Commercial                       |   |   | -      |   |   |   | - |   |
| Total real estate - construction |   |   | -      |   |   |   | - |   |
|                             |   |   |   |   |   |   |   |   |
| Consumer                         |   |   |   |   |   |   |   |   |
| Home equity (loan to value       |   |   |   |   |   |   |   |   |
| of 80% or less)                  |   |   | (87    | )      |   |   | - |   |
| Home equity (loan to value       |   |   |   |   |   |   |   |   |
| of greater than 80%)             |   |   | (119   | )      |   |   | (46 | ) |
| Other                            |   |   | (18    | )      |   |   | (14 | ) |
| Total consumer                   |   |   | (224   | )      |   |   | (60 | ) |
|                             |   |   |   |   |   |   |   |   |
| Commercial business              |   |   | (2     | )      |   |   | - |   |
| Total charge-offs                |   |   | (535   | )      |   |   | (390 | ) |
| Recoveries                       |   |   | -      |   |   |   | 3 |   |
| Net charge-offs                  |   |   | (535   | )      |   |   | (387 | ) |
| Allowance at end of year         |   | $      | 2,824  |   |   | $      | 2,509 |   |

----

----

|   | December 31,                         |   | 2010   |   |   | 2009   |   |
|--------|--------------------------------------|--------|--------|--------|--------|--------|--------|
|   | Land and land improvements           |   | $      | 511    |   |   | $      | 511 |   |
|   | Buildings and leasehold improvements |   |   | 4,600  |   |   |   | 4,496 |   |
|   | Furniture, fixtures and equipment    |   |   | 3,778  |   |   |   | 3,525 |   |
|   | Total, at cost                       |   |   | 8,889  |   |   |   | 8,532 |   |
|   | Less: accumulated depreciation       |   |   | 6,608  |   |   |   | 6,121 |   |
|   | Premises and equipment, net          |   | $      | 2,281  |   |   | $      | 2,411 |   |

|   | December 31,                        |   | 2010   |    |   | 2009   |   |
|--------|-------------------------------------|--------|--------|---------|--------|--------|--------|
|   | Noninterest-bearing demand deposits |   | $      | 15,612  |   |   | $      | 15,963 |   |
|   | Interest-bearing demand deposits    |   |   | 13,584  |   |   |   | 15,214 |   |
|   | Savings accounts                    |   |   | 21,320  |   |   |   | 21,560 |   |
|   | Money market accounts               |   |   | 58,949  |   |   |   | 53,282 |   |
|   | Certificates of deposit             |   |   | 94,097  |   |   |   | 87,562 |   |
|   | Total deposits                      |   | $      | 203,562 |   |   | $      | 193,581 |   |

|   | Years ended December 31,         |   | 2010   |   |   | 2009   |   |
|--------|----------------------------------|--------|--------|--------|--------|--------|--------|
|   | Interest-bearing demand deposits |   | $      | 39     |   |   | $      | 46 |   |
|   | Savings accounts                 |   |   | 110    |   |   |   | 126 |   |
|   | Money market accounts            |   |   | 666    |   |   |   | 969 |   |
|   | Certificates of deposit          |   |   | 2,529  |   |   |   | 2,925 |   |
|   | Total interest expense           |   | $      | 3,344  |   |   | $      | 4,066 |   |

----

----

|   | December 31, |   | 2010   |   |   |   |       |   | 2009   |   |
|--------|--------------|--------|--------|--------|--------|--------|------------|--------|--------|--------|
|   | 2011         |   | $      | 42,690 |   |   |       | 2010   |   |   | $ | 48,802 |   |
|   | 2012         |   |   | 25,001 |   |   |       | 2011   |   |   |   | 16,541 |   |
|   | 2013         |   |   | 7,224  |   |   |       | 2012   |   |   |   | 7,971 |   |
|   | 2014         |   |   | 5,558  |   |   |       | 2013   |   |   |   | 2,358 |   |
|   | 2015         |   |   | 6,209  |   |   |       | 2014   |   |   |   | 5,284 |   |
|   | Thereafter   |   |   | 7,415  |   |   | Thereafter |   |   |   | 6,606 |   |
|   | Total        |   | $      | 94,097 |   |   | Total      |   |   | $      | 87,562 |   |

----

----

|                                   |   |                  |   |   |    |   |   |   |   |
|----------------------------------------|--------|-----------------------|--------|--------|---------|--------|--------|--------|--------|
|                                   |   | Weighted Average Rate |   |   | Balance |   |
|                                   |   |                  |   |   |    |   |   |   |   |   |   |   |
| December 31,                           |   | 2010                  |   |   | 2009    |   |   | 2010   |   |   | 2009 |   |
| Due in one year or less                |   |                  | 3.02   | %      |    | 3.27   | %      |   | $      | 22,159 |   |   | $ | 31,778 |   |
| Due in one to two years                |   |                  | 4.22   |   |    | 3.58   |   |   |   | 9,805 |   |   |   | 20,909 |   |
| Due in two to three years              |   |                  | 3.68   |   |    | 4.53   |   |   |   | 15,717 |   |   |   | 22,041 |   |
| Due in three to four years             |   |                  | 3.41   |   |    | 3.68   |   |   |   | 18,000 |   |   |   | 19,783 |   |
| Due in four to five years              |   |                  | 3.82   |   |    | 3.41   |   |   |   | 12,000 |   |   |   | 18,000 |   |
| Total advances                         |   |                  | 3.52   | %      |    | 3.67   | %      |   | $      | 77,681 |   |   | $ | 112,511 |   |
|                                   |   |                  |   |   |    |   |   |   |   |   |   |   |   |   |   |
| Less: deferred premium on modification |   |                  |   |   |    |   |   |   | $      | (788 | ) |   | $ | - |   |
|                                   |   |                  |   |   |    |   |   |   |   |   |   |   |   |   |   |
| Total advances                         |   |                  |   |   |    |   |   |   | $      | 76,893 |   |   | $ | 112,511 |   |

| Years Ended December 31,                         |   | 2010   |      |   | 2009   |   |
|--------------------------------------------------|--------|--------|-----------|--------|--------|--------|
| (Dollars in thousands, except per share amounts) |   |   |      |   |   |   |
|                                             |   |   |      |   |   |   |
| Net income                                       |   | $      | 608       |   |   | $      | 557 |   |
| Weighted-average shares outstanding:             |   |   |      |   |   |   |   |   |
| Basic                                            |   |   | 2,897,469 |   |   |   | 2,880,211 |   |
| Effect of dilutive stock options and awards      |   |   | 1,516     |   |   |   | - |   |
| Diluted                                          |   |   | 2,898,985 |   |   |   | 2,880,211 |   |
|                                             |   |   |      |   |   |   |   |   |
| Earnings per share:                              |   |   |      |   |   |   |   |   |
| Basic and diluted                                |   | $      | 0.21      |   |   | $      | 0.19 |   |

----

----

| December 31, |   | 2010   |   |
|--------------|--------|--------|--------|
| 2011         |   | $      | 206    |   |
| 2012         |   |   | 169    |   |
| 2013         |   |   | 156    |   |
| 2014         |   |   | 107    |   |
| 2015         |   |   | 90     |   |
| Thereafter   |   |   | 116    |   |
| Total        |   | $      | 844    |   |

| Years ended December 31,             |   | 2010   |   |   | 2009   |   |
|--------------------------------------|--------|--------|--------|--------|--------|--------|
| Computed income tax expense          |   | $      | 338    |   |   | $      | 311 |   |
| Increase (decrease) resulting from:  |   |   |   |   |   |   |   |   |
| State taxes (net of federal benefit) |   |   | 41     |   |   |   | 39 |   |
| Nontaxable BOLI income               |   |   | (97    | )      |   |   | (98 | ) |
| Stock-based compensation (ISOs)      |   |   | 74     |   |   |   | 75 |   |
| Other, net                           |   |   | 30     |   |   |   | 31 |   |
| Actual income tax expense            |   | $      | 386    |   |   | $      | 358 |   |
|                                 |   |   |   |   |   |   |   |   |
| Effective tax rate                   |   |   | 36.8   | %      |   |   | 37.1 | % |

----

----

| December 31,                                           |   | 2010   |   |   | 2009   |   |
|--------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Deferred tax assets:                                   |   |   |   |   |   |   |
| Allowance for loan losses                              |   | $      | 960    |   |   | $      | 853 |   |
| Investments in affordable housing projects             |   |   | 32     |   |   |   | 104 |   |
| Postretirement benefits                                |   |   | 674    |   |   |   | 612 |   |
| Net operating loss carryforwards - Federal             |   |   | 511    |   |   |   | 12 |   |
| Stock-based compensation (NSOs)                        |   |   | 101    |   |   |   | 110 |   |
| Impairment loss on securities                          |   |   | -      |   |   |   | 1,050 |   |
| Other deferred tax assets                              |   |   | 7      |   |   |   | - |   |
| Net unrealized loss on securities available-for-sale   |   |   | 32     |   |   |   | 25 |   |
| Total deferred tax assets                              |   |   | 2,317  |   |   |   | 2,766 |   |
|                                                   |   |   |   |   |   |   |   |   |
| Deferred tax liabilities:                              |   |   |   |   |   |   |   |   |
| Deferred loan costs                                    |   |   | (237   | )      |   |   | (282 | ) |
| Other deferred tax liabilities                         |   |   | (22    | )      |   |   | - |   |
| Depreciation and amortization                          |   |   | (100   | )      |   |   | (20 | ) |
| Total deferred tax liabilities                         |   |   | (359   | )      |   |   | (302 | ) |
|                                                   |   |   |   |   |   |   |   |   |
| Net deferred tax assets                                |   |   | 1,958  |   |   |   | 2,464 |   |
| Tax credit carryforwards                               |   |   | 1,059  |   |   |   | 1,023 |   |
| Total deferred tax assets and tax credit carryforwards |   | $      | 3,017  |   |   | $      | 3,487 |   |
|                                                   |   |   |   |   |   |   |   |   |

| Years ended December 31, |   | 2010   |   |   | 2009   |   |
|--------------------------|--------|--------|--------|--------|--------|--------|
| Currently (prepaid)      |   | $      | (91    | )      |   | $      | (394 | ) |
| Deferred expense         |   |   | 477    |   |   |   | 752 |   |
| Total income tax expense |   | $      | 386    |   |   | $      | 358 |   |

----

----

|                                      |   |   |   |   |     |   |   |              |   |   |         |   |   | To Be Well |
|-------------------------------------------|--------|--------|--------|--------|----------|--------|--------|-------------------|--------|--------|--------------|--------|--------|------------|
|                                      |   |   |   |   |     |   |   | For Capital       |   |   | Capitalized  |
|                                      |   |   |   |   |     |   |   | Adequacy          |   |   | Under Prompt |
|                                      |   | Actual |   |   | Purposes |   |   | Corrective Action |
| December 31, 2010                         |   | Amount |   |   | Ratio    |   | Amount |              |   | Ratio  |         | Amount |   |       | Ratio |
| Total capital (to risk weighted assets)   |   | $      | 46,565 |   |     |   | 25.44  | %                 |   | $      | 14,641       |   |   |       | 8.00 | % |   | $ | 18,302 |   |   |   | 10.00 | % |
| Tier 1 capital (to risk weighted assets)  |   |   | 44,277 |   |     |   | 24.19  |              |   |   | 7,321        |   |   |       | 4.00 |   |   |   | 10,981 |   |   |   | 6.00 |   |
| Tier 1 capital (to adjusted total assets) |   |   | 44,277 |   |     |   | 12.95  |              |   |   | 13,681       |   |   |       | 4.00 |   |   |   | 17,102 |   |   |   | 5.00 |   |
| Tangible capital (to tangible assets)     |   |   | 44,277 |   |     |   | 12.95  |              |   |   | 5,130        |   |   |       | 1.50 |   |   |   | N/A |   |   |   | N/A |   |
|                                      |   |   |   |   |     |   |   |              |   |   |         |   |   |       |   |   |   |   |   |   |   |   |   |   |
| December 31, 2009                         |   | Amount |   |   | Ratio    |   | Amount |              |   | Ratio  |         | Amount |   |       | Ratio |
| Total capital (to risk weighted assets)   |   | $      | 38,119 |   |     |   | 19.45  | %                 |   | $      | 15,675       |   |   |       | 8.00 | % |   | $ | 19,594 |   |   |   | 10.00 | % |
| Tier 1 capital (to risk weighted assets)  |   |   | 35,670 |   |     |   | 18.20  |              |   |   | 7,838        |   |   |       | 4.00 |   |   |   | 11,756 |   |   |   | 6.00 |   |
| Tier 1 capital (to adjusted total assets) |   |   | 35,670 |   |     |   | 10.12  |              |   |   | 14,094       |   |   |       | 4.00 |   |   |   | 17,617 |   |   |   | 5.00 |   |
| Tangible capital (to tangible assets)     |   |   | 35,670 |   |     |   | 10.12  |              |   |   | 5,285        |   |   |       | 1.50 |   |   |   | N/A |   |   |   | N/A |   |

| December 31,                                  |   | 2010   |   |   | 2009   |   |
|-----------------------------------------------|--------|--------|--------|--------|--------|--------|
| GAAP equity                                   |   | $      | 45,488 |   |   | $      | 37,113 |   |
| Goodwill and certain other intangible assets  |   |   | (1,339 | )      |   |   | (1,482 | ) |
| Accumulated other comprehensive loss          |   |   | 128    |   |   |   | 39 |   |
| Tier 1 capital                                |   |   | 44,277 |   |   |   | 35,670 |   |
| General regulatory allowance for loan losses* |   |   | 2,288  |   |   |   | 2,449 |   |
| Total capital                                 |   | $      | 46,565 |   |   | $      | 38,119 |   |

----

----

----

----

----

----

|                                                                                                           |   | Stock Options |    |
|----------------------------------------------------------------------------------------------------------------|--------|---------------|---------|
|                                                                                                           |   |          |    |   | Weighted |   |   | Weighted |   |
|                                                                                                           |   | Number        |    |   | Average |   |   | Average |   |
|                                                                                                           |   | of            |    |   | Exercise |   |   | Remaining |   |
| Stock-Based Compensation                                                                                       |   | Shares        |    |   | Price |   |   | Term |   |
| Outstanding at January 1, 2009                                                                                 |   |          | 129,976 |   |   | $ | 20.32 |   |   |   | 7.80 |   |
| Granted                                                                                                        |   |          | 7,103   |   |   |   | 6.55 |   |   |   |   |   |
| Exercised or converted                                                                                         |   |          | -       |   |   |   | - |   |   |   |   |   |
| Forfeited                                                                                                      |   |          | 17,046  |   |   |   | 21.35 |   |   |   |   |   |
| Expired                                                                                                        |   |          | 17,283  |   |   |   | 21.35 |   |   |   |   |   |
| Outstanding at December 31, 2009                                                                               |   |          | 102,750 |   |   | $ | 19.03 |   |   |   | 7.09 |   |
| Granted                                                                                                        |   |          | -       |   |   |   | - |   |   |   |   |   |
| Exercised or converted                                                                                         |   |          | -       |   |   |   | - |   |   |   |   |   |
| Forfeited                                                                                                      |   |          | 2,557   |   |   |   | 15.76 |   |   |   |   |   |
| Expired                                                                                                        |   |          | 1,231   |   |   |   | 17.11 |   |   |   |   |   |
| Fractional shares (1)                                                                                          |   |          | 26      |   |   |   |   |   |   |   |   |   |
| Outstanding at December 31, 2010                                                                               |   |          | 98,936  |   |   | $ | 19.13 |   |   |   | 6.06 |   |
|                                                                                                           |   |          |    |   |   |   |   |   |   |   |   |   |
| Exercisable at December 31, 2010                                                                               |   |          | 68,124  |   |   | $ | 20.33 |   |   |   | 5.59 |   |
|                                                                                                           |   |          |    |   |   |   |   |   |   |   |   |   |
| (1) Represents adjustment for total of fractional shares on a participant level due to second step conversion. |   |

----

----

|                                                                                                           |   | Stock Options |   |   | Restricted Stock Awards |   |
|----------------------------------------------------------------------------------------------------------------|--------|---------------|--------|--------|-------------------------|--------|
|                                                                                                           |   | Number of     |   |   | Fair-Value              |   |   | Number of |   |   | Fair-Value |   |
|                                                                                                           |   | Shares        |   |   | Price                   |   |   | Shares |   |   | Price |   |
| Nonvested at December 31, 2008                                                                                 |   |          | 82,247 |   |                    | $      | 6.50 |   |   |   | 34,850 |   |   | $ | 19.54 |   |
| Granted                                                                                                        |   |          | 7,103  |   |                    |   | 3.51 |   |   |   | 2,368 |   |   |   | 6.55 |   |
| Vested                                                                                                         |   |          | 19,129 |   |                    |   | 6.53 |   |   |   | 8,476 |   |   |   | 21.20 |   |
| Forfeited                                                                                                      |   |          | 17,046 |   |                    |   | 6.67 |   |   |   | 5,682 |   |   |   | 21.35 |   |
| Nonvested at December 31, 2009                                                                                 |   |          | 53,175 |   |                    | $      | 6.04 |   |   |   | 23,060 |   |   | $ | 17.15 |   |
| Granted                                                                                                        |   |          | -      |   |                    |   | - |   |   |   | - |   |   |   | - |   |
| Vested                                                                                                         |   |          | 19,792 |   |                    |   | 6.31 |   |   |   | 8,570 |   |   |   | 19.25 |   |
| Forfeited                                                                                                      |   |          | 2,557  |   |                    |   | 6.12 |   |   |   | 1,278 |   |   |   | 15.76 |   |
| Fractional Shares (1)                                                                                          |   |          | 14     |   |                    |   | - |   |   |   | 11 |   |   |   |   |   |
| Nonvested at December 31, 2010                                                                                 |   |          | 30,812 |   |                    | $      | 5.86 |   |   |   | 13,201 |   |   | $ | 16.81 |   |
|                                                                                                           |   |          |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |
| (1) Represents adjustment for total of fractional shares on a participant level due to second step conversion. |   |

----

----

| December 31,                               |   | 2010   |   |   | 2009   |   |
|--------------------------------------------|--------|--------|--------|--------|--------|--------|
| Unused consumer revolving lines of credit  |   | $      | 3,152  |   |   | $      | 3,132 |   |
| Unused commercial lines of credit          |   |   | 5,103  |   |   |   | 4,202 |   |
| One-to-four family residential commitments |   |   | 443    |   |   |   | 413 |   |
| Home equity installment commitments        |   |   | 897    |   |   |   | 283 |   |
| Total commitments outstanding              |   | $      | 9,595  |   |   | $      | 8,030 |   |

|   | Level 1 | – | Quoted prices for identical instruments in active markets.                                                                                                                                                                                                |
|--------|--------------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |         |    |                                                                                                                                                                                                                                                      |
|   | Level 2 | – | Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are active, and model derived valuations in which significant inputs or significant drivers are observable in active markets. |
|   |         |    |                                                                                                                                                                                                                                                      |
|   | Level 3 | – | Valuations derived from valuation techniques in which one or more significant inputs or significant drivers are unobservable.                                                                                                                             |

----

----

|                                                |   | December 31, 2010 |   |   | December 31, 2009 |   |
|-----------------------------------------------------|--------|-------------------|--------|--------|-------------------|--------|
| Significant other observable inputs (Level 2)       |   |              |   |   |              |   |
| Government-sponsored enterprises                    |   | $                 | 7,614  |   |              | $      | 5,745 |   |
| Municipal bonds                                     |   |              | 4,296  |   |              |   | 4,271 |   |
| Mortgage-backed                                     |   |              | 33,951 |   |              |   | 35,453 |   |
| REMICs                                              |   |              | 31,565 |   |              |   | 30,465 |   |
| Equities                                            |   |              | 49     |   |              |   | 49 |   |
| Total significant other observable inputs (Level 2) |   |              | 77,475 |   |              |   | 75,983 |   |
|                                                |   |              |   |   |              |   |   |   |
| Significant unobservable inputs (Level 3)           |   |              |   |   |              |   |   |   |
| Mortgage-backed                                     |   |              | 38     |   |              |   | 1,483 |   |
| Corporate debt                                      |   |              | 1,240  |   |              |   | 2,093 |   |
| Total significant unobservable inputs (Level 3)     |   |              | 1,278  |   |              |   | 3,576 |   |
| Total securities                                    |   | $                 | 78,753 |   |              | $      | 79,559 |   |

----

----

|                         |   | Significant         |   |
|------------------------------|--------|---------------------|--------|
|                         |   | Unobservable Inputs |   |
|                         |   | (Level 3)           |   |
| December 31, 2008            |   | $                   | 5,371  |   |
| Total unrealized gains       |   |                | 591    |   |
| Purchases                    |   |                | -      |   |
| Settlements                  |   |                | -      |   |
| Paydowns and maturities      |   |                | (651   | ) |
| Net transfers out of level 3 |   |                | (1,735 | ) |
| December 31, 2009            |   | $                   | 3,576  |   |
| Total unrealized losses      |   |                | (836   | ) |
| Purchases                    |   |                | -      |   |
| Settlements                  |   |                | -      |   |
| Paydowns and maturities      |   |                | (300   | ) |
| Net transfers out of level 3 |   |                | (1,162 | ) |
| December 31, 2010            |   | $                   | 1,278  |   |

|                                                                                                                                                                                                         |   | December 31, 2010 |   |   | December 31, 2009 |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|--------|--------|-------------------|--------|
| The amount of total unrealized (losses) gains for the year included in earnings (or changes in net assets) attributable to the change in unrealized (losses) gains relating to assets still held at year end |   | $                 | (836   | )      |              | $      | 591 |   |

| December 31, 2010 |   | Level 2 |   |
|-------------------|--------|---------|--------|
| Impaired loans    |   | $       | 995    |   |
| Real estate owned |   |    | 426    |   |

----

----

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----

| December 31,                |   | 2010     |    |   | 2009       |   |
|-----------------------------|--------|----------|---------|--------|------------|--------|
|                        |   | Carrying |    |   | Estimated  |   |   | Carrying |   |   | Estimated |   |
|                        |   | Amount   |    |   | Fair Value |   |   | Amount |   |   | Fair Value |   |
| Financial assets:           |   |     |    |   |       |   |   |   |   |   |   |   |
| Cash and cash equivalents   |   | $        | 9,320   |   |       | $      | 9,320 |   |   | $ | 7,496 |   |   | $ | 7,496 |   |
| Securities                  |   |     | 78,753  |   |       |   | 78,753 |   |   |   | 79,559 |   |   |   | 79,559 |   |
| Loans, net                  |   |     | 230,055 |   |       |   | 236,463 |   |   |   | 240,387 |   |   |   | 246,502 |   |
| FHLB stock                  |   |     | 6,556   |   |       |   | 6,556 |   |   |   | 6,901 |   |   |   | 6,901 |   |
| Accrued interest receivable |   |     | 1,365   |   |       |   | 1,365 |   |   |   | 1,556 |   |   |   | 1,556 |   |
|                        |   |     |    |   |       |   |   |   |   |   |   |   |   |   |   |   |
| Financial liabilities:      |   |     |    |   |       |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                    |   |     | 203,562 |   |       |   | 205,204 |   |   |   | 193,581 |   |   |   | 194,814 |   |
| Borrowings                  |   |     | 76,893  |   |       |   | 79,764 |   |   |   | 112,511 |   |   |   | 115,437 |   |
| Accrued interest payable    |   |     | 598     |   |       |   | 598 |   |   |   | 836 |   |   |   | 836 |   |
|                        |   |     |    |   |       |   |   |   |   |   |   |   |   |   |   |   |

| Statement of Financial Condition                                         |
|--------------------------------------------------------------------------|
|                                                                     |   |   |   |   |   |   |
| December 31,                                                             |   | 2010 |   |   | 2009 |   |
| Assets:                                                                  |   |   |   |   |   |   |
| Cash and cash equivalents                                                |   | $ | 10,924 |   |   | $ | 3,058 |   |
| Investment in the Bank                                                   |   |   | 45,404 |   |   |   | 37,034 |   |
| Loan receivable, ESOP                                                    |   |   | 1,780 |   |   |   | 1,928 |   |
| Other assets                                                             |   |   | 587 |   |   |   | 372 |   |
|           Total assets |   | $ | 58,695 |   |   | $ | 42,392 |   |
|                                                                     |   |   |   |   |   |   |   |   |
| Liabilities and Stockholders' Equity:                                    |   |   |   |   |   |   |   |   |
| Accrued expenses                                                         |   |   | 192 |   |   |   | 28 |   |
| Stockholders' equity                                                     |   |   | 58,503 |   |   |   | 42,364 |   |
| Total liabilities and stockholders' equity                               |   | $ | 58,695 |   |   | $ | 42,392 |   |

----

----

| Statements of Operations                                                  |   |
|---------------------------------------------------------------------------|--------|
|                                                                      |   |   |   |   |   |   |
| Years ended December 31,                                                  |   | 2010 |   |   | 2009 |   |
| Interest income                                                           |   | $ | 111 |   |   | $ | 119 |   |
| Operating income                                                          |   |   | 1 |   |   |   | - |   |
| Operating expense                                                         |   |   | 200 |   |   |   | 240 |   |
| Loss before undistributed net income of subsidiary and income tax benefit |   |   | (88 | ) |   |   | (121 | ) |
| Undistributed net income of subsidiary                                    |   |   | 666 |   |   |   | 639 |   |
| Income before income tax benefit                                          |   |   | 578 |   |   |   | 518 |   |
| Income tax benefit                                                        |   |   | (30 | ) |   |   | (39 | ) |
| Net income                                                                |   | $ | 608 |   |   | $ | 557 |   |
|                                                                      |   |   |   |   |   |   |   |   |
|                                                                      |   |   |   |   |   |   |   |   |
| Statements of Cash Flows                                                  |   |
|                                                                      |   |   |   |   |   |   |   |   |
| Years ended December 31,                                                  |   |   | 2010 |   |   |   | 2009 |   |
| Cash flows from operating activities:                                     |   |   |   |   |   |   |   |   |
| Net income                                                                |   | $ | 608 |   |   | $ | 557 |   |
| Adjustments to reconcile net income to net cash provided by               |   |   |   |   |   |   |   |   |
| operating activities:                                                     |   |   |   |   |   |   |   |   |
| Undistributed net income in subsidiary                                    |   |   | (666 | ) |   |   | (639 | ) |
| Noncash expense for stock-based compensation                              |   |   | 293 |   |   |   | 296 |   |
| Increase in other assets                                                  |   |   | (233 | ) |   |   | (3 | ) |
| Increase in other liabilities                                             |   |   | 164 |   |   |   | 4 |   |
| Net cash provided by operating activities                                 |   |   | 166 |   |   |   | 215 |   |
|                                                                      |   |   |   |   |   |   |   |   |
| Cash flows from investing activities:                                     |   |   |   |   |   |   |   |   |
| ESOP loan principal payments received                                     |   |   | 148 |   |   |   | 139 |   |
| Investment in FFSB                                                        |   |   | (7,700 | ) |   |   | - |   |
| Net cash (used in) provided by investing activities                       |   |   | (7,552 | ) |   |   | 139 |   |
|                                                                      |   |   |   |   |   |   |   |   |
| Cash flows from financing activities:                                     |   |   |   |   |   |   |   |   |
| Purchases of common stock to be held in treasury                          |   |   | (16 | ) |   |   | (77 | ) |
| Proceeds from stock offering, net                                         |   |   | 15,355 |   |   |   | - |   |
| Cash dividends paid                                                       |   |   | (87 | ) |   |   | - |   |
| Net cash provided by (used in) financing activities                       |   |   | 15,252 |   |   |   | (77 | ) |
|                                                                      |   |   |   |   |   |   |   |   |
| Net increase in cash and cash equivalents                                 |   |   | 7,866 |   |   |   | 277 |   |
|                                                                      |   |   |   |   |   |   |   |   |
| Cash and cash equivalents at beginning of year                            |   |   | 3,058 |   |   |   | 2,781 |   |
| Cash and cash equivalents at end of year                                  |   | $ | 10,924 |   |   | $ | 3,058 |   |

----

----

|                                                                                           |   | First Federal Savings Bank |    |   | Exchange Underwriters, Inc. |   |   | FedFirst Financial Corporation |   |   | NetEliminations |   |   | Consolidated |    |
|------------------------------------------------------------------------------------------------|--------|----------------------------|---------|--------|-----------------------------|--------|--------|--------------------------------|--------|--------|-----------------|--------|--------|--------------|---------|
|                                                                                           |   |                       |    |   |                        |   |   |                           |   |   |            |   |   |         |    |
| December 31, 2010                                                                              |   |                       |    |   |                        |   |   |                           |   |   |            |   |   |         |    |
|  Assets                                                                                   |   | $                          | 343,469 |   |                        | $      | 1,422  |                           |   | $      | 58,695          |   |   | $            | (60,513 | ) |   | $ | 343,073 |   |
|  Liabilities                                                                              |   |                       | 297,977 |   |                        |   | 667    |                           |   |   | 192             |   |   |         | (14,350 | ) |   |   | 284,486 |   |
|  Stockholders' equity                                                                     |   |                       | 45,492  |   |                        |   | 755    |                           |   |   | 58,503          |   |   |         | (46,163 | ) |   |   | 58,587 |   |
|                                                                                           |   |                       |    |   |                        |   |   |                           |   |   |            |   |   |         |    |   |   |   |   |   |
| December 31, 2009                                                                              |   |                       |    |   |                        |   |   |                           |   |   |            |   |   |         |    |   |   |   |   |   |
|  Assets                                                                                   |   | $                          | 353,397 |   |                        | $      | 1,511  |                           |   | $      | 42,392          |   |   | $            | (44,007 | ) |   | $ | 353,293 |   |
|  Liabilities                                                                              |   |                       | 316,280 |   |                        |   | 783    |                           |   |   | 28              |   |   |         | (6,241  | ) |   |   | 310,850 |   |
|  Stockholders' equity                                                                     |   |                       | 37,117  |   |                        |   | 728    |                           |   |   | 42,364          |   |   |         | (37,766 | ) |   |   | 42,443 |   |
|                                                                                           |   |                       |    |   |                        |   |   |                           |   |   |            |   |   |         |    |   |   |   |   |   |
| Year Ended December 31, 2010                                                                   |   |                       |    |   |                        |   |   |                           |   |   |            |   |   |         |    |   |   |   |   |   |
|  Total interest income                                                                    |   | $                          | 16,786  |   |                        | $      | 9      |                           |   | $      | 111             |   |   | $            | (111    | ) |   | $ | 16,795 |   |
|  Total interest expense                                                                   |   |                       | 6,845   |   |                        |   | -      |                           |   |   | -               |   |   |         | (111    | ) |   |   | 6,734 |   |
|  Net interest income                                                                      |   |                       | 9,941   |   |                        |   | 9      |                           |   |   | 111             |   |   |         | -       |   |   |   | 10,061 |   |
|  Provision for loan losses                                                                |   |                       | 850     |   |                        |   | -      |                           |   |   | -               |   |   |         | -       |   |   |   | 850 |   |
|  Net interest income after                                                                |   |                       |    |   |                        |   |   |                           |   |   |            |   |   |         |    |   |   |   |   |   |
|       provision for loan losses                                  |   |                       | 9,091   |   |                        |   | 9      |                           |   |   | 111             |   |   |         | -       |   |   |   | 9,211 |   |
|  Noninterest income                                                                       |   |                       | 122     |   |                        |   | 2,329  |                           |   |   | 1               |   |   |         | -       |   |   |   | 2,452 |   |
|  Noninterest expense                                                                      |   |                       | 8,586   |   |                        |   | 1,827  |                           |   |   | 200             |   |   |         | -       |   |   |   | 10,613 |   |
|  Undistributed net income of subsidiary                                                   |   |                       | 280     |   |                        |   | -      |                           |   |   | 666             |   |   |         | (946    | ) |   |   | - |   |
|  Income before income tax expense (benefit) and                                           |   |                       |    |   |                        |   |   |                           |   |   |            |   |   |         |    |   |   |   |   |   |
|      noncontrolling interest in net income of consolidated subsidiary |   |                       | 907     |   |                        |   | 511    |                           |   |   | 578             |   |   |         | (946    | ) |   |   | 1,050 |   |
|  Income tax expense (benefit)                                                             |   |                       | 185     |   |                        |   | 231    |                           |   |   | (30             | )      |   |         | -       |   |   |   | 386 |   |
|  Net income before noncontrolling interest in net                                         |   |                       |    |   |                        |   |   |                           |   |   |            |   |   |         |    |   |   |   |   |   |
|      income of consolidated subsidiary                                |   |                       | 722     |   |                        |   | 280    |                           |   |   | 608             |   |   |         | (946    | ) |   |   | 664 |   |
|  Noncontrolling interest in net income                                                    |   |                       |    |   |                        |   |   |                           |   |   |            |   |   |         |    |   |   |   |   |   |
|       of consolidated subsidiary                                 |   |                       | 56      |   |                        |   | -      |                           |   |   | -               |   |   |         | -       |   |   |   | 56 |   |
|  Net income                                                                               |   | $                          | 666     |   |                        | $      | 280    |                           |   |   | 608             |   |   | $            | (946    | ) |   | $ | 608 |   |
|                                                                                           |   |                       |    |   |                        |   |   |                           |   |   |            |   |   |         |    |   |   |   |   |   |
| Year Ended December 31, 2009                                                                   |   |                       |    |   |                        |   |   |                           |   |   |            |   |   |         |    |   |   |   |   |   |
|  Total interest income                                                                    |   | $                          | 18,036  |   |                        | $      | 15     |                           |   | $      | 119             |   |   | $            | (119    | ) |   | $ | 18,051 |   |
|  Total interest expense                                                                   |   |                       | 8,780   |   |                        |   | -      |                           |   |   | -               |   |   |         | (119    | ) |   |   | 8,661 |   |
|  Net interest income                                                                      |   |                       | 9,256   |   |                        |   | 15     |                           |   |   | 119             |   |   |         | -       |   |   |   | 9,390 |   |
|  Provision for loan losses                                                                |   |                       | 1,090   |   |                        |   | -      |                           |   |   | -               |   |   |         | -       |   |   |   | 1,090 |   |
|  Net interest income after                                                                |   |                       |    |   |                        |   |   |                           |   |   |            |   |   |         |    |   |   |   |   |   |
|       after provision for loan losses                            |   |                       | 8,166   |   |                        |   | 15     |                           |   |   | 119             |   |   |         | -       |   |   |   | 8,300 |   |
|  Noninterest income                                                                       |   |                       | 1,001   |   |                        |   | 2,218  |                           |   |   | -               |   |   |         | -       |   |   |   | 3,219 |   |
|  Noninterest expense                                                                      |   |                       | 8,546   |   |                        |   | 1,767  |                           |   |   | 240             |   |   |         | -       |   |   |   | 10,553 |   |
|  Undistributed net income of subsidiary                                                   |   |                       | 254     |   |                        |   | -      |                           |   |   | 639             |   |   |         | (893    | ) |   |   | - |   |
|  Income before income tax expense  (benefit) and                                |   |                       |    |   |                        |   |   |                           |   |   |            |   |   |         |    |   |   |   |   |   |
|      noncontrolling interest in net income of consolidated subsidiary |   |                       | 875     |   |                        |   | 466    |                           |   |   | 518             |   |   |         | (893    | ) |   |   | 966 |   |
|  Income tax expense (benefit)                                                             |   |                       | 185     |   |                        |   | 212    |                           |   |   | (39             | )      |   |         | -       |   |   |   | 358 |   |
|  Net income before noncontrolling interest in net                                         |   |                       |    |   |                        |   |   |                           |   |   |            |   |   |         |    |   |   |   |   |   |
|      income of consolidated subsidiary                                |   |                       | 690     |   |                        |   | 254    |                           |   |   | 557             |   |   |         | (893    | ) |   |   | 608 |   |
|  Noncontrolling interest in net income of                                                 |   |                       |    |   |                        |   |   |                           |   |   |            |   |   |         |    |   |   |   |   |   |
|       consolidated subsidiary                                    |   |                       | 51      |   |                        |   | -      |                           |   |   | -               |   |   |         | -       |   |   |   | 51 |   |
|  Net income                                                                               |   | $                          | 639     |   |                        | $      | 254    |                           |   |   | 557             |   |   | $            | (893    | ) |   | $ | 557 |   |

----

----

|                                        |   | March 31, |   |   | June 30, |   |   | September 30, |   |   | December 31, |   |
|---------------------------------------------|--------|-----------|--------|--------|----------|--------|--------|---------------|--------|--------|--------------|--------|
| Three Months Ended                          |   | 2010      |   |   | 2010     |   |   | 2010          |   |   | 2010         |   |
| Interest income                             |   | $         | 4,364  |   |     | $      | 4,233  |          |   | $      | 4,178        |   |   | $ | 4,020 |   |
| Interest expense                            |   |      | 1,864  |   |     |   | 1,799  |          |   |   | 1,617        |   |   |   | 1,454 |   |
| Net interest income                         |   |      | 2,500  |   |     |   | 2,434  |          |   |   | 2,561        |   |   |   | 2,566 |   |
| Provision for loan losses                   |   |      | 200    |   |     |   | 200    |          |   |   | 200          |   |   |   | 250 |   |
| Net interest income after                   |   |      |   |   |     |   |   |          |   |   |         |   |   |   |   |   |
| provision for loan losses                   |   |      | 2,300  |   |     |   | 2,234  |          |   |   | 2,361        |   |   |   | 2,316 |   |
| Noninterest income                          |   |      | 926    |   |     |   | 782    |          |   |   | 672          |   |   |   | 72 |   |
| Noninterest expense                         |   |      | 2,582  |   |     |   | 2,540  |          |   |   | 2,583        |   |   |   | 2,908 |   |
| Income before income tax expense            |   |      |   |   |     |   |   |          |   |   |         |   |   |   |   |   |
| and noncontolling interest in net           |   |      |   |   |     |   |   |          |   |   |         |   |   |   |   |   |
| income (loss) of consolidated subsidiary    |   |      | 644    |   |     |   | 476    |          |   |   | 450          |   |   |   | (520 | ) |
| Income tax (benefit) expense                |   |      | 237    |   |     |   | 168    |          |   |   | 152          |   |   |   | (171 | ) |
| Net income before noncontrolling            |   |      |   |   |     |   |   |          |   |   |         |   |   |   |   |   |
| interest in net income (loss) of            |   |      |   |   |     |   |   |          |   |   |         |   |   |   |   |   |
| consolidated subsidiary                     |   |      | 407    |   |     |   | 308    |          |   |   | 298          |   |   |   | (349 | ) |
| Noncontrolling interest in net income       |   |      |   |   |     |   |   |          |   |   |         |   |   |   |   |   |
| of consolidated subsidiary                  |   |      | 33     |   |     |   | 13     |          |   |   | 3            |   |   |   | 7 |   |
| Net income (loss)                           |   | $         | 374    |   |     | $      | 295    |          |   | $      | 295          |   |   | $ | (356 | ) |
|                                        |   |      |   |   |     |   |   |          |   |   |         |   |   |   |   |   |
| Earnings (loss) per share basic and diluted |   | $         | 0.13   |   |     | $      | 0.10   |          |   | $      | 0.10         |   |   | $ | (0.12 | ) |

|                                             |   | March 31, |   |   | June 30, |   |   | September 30, |   |   | December 31, |   |
|--------------------------------------------------|--------|-----------|--------|--------|----------|--------|--------|---------------|--------|--------|--------------|--------|
| Three Months Ended                               |   | 2009      |   |   | 2009     |   |   | 2009          |   |   | 2009         |   |
| Interest income                                  |   | $         | 4,570  |   |     | $      | 4,484  |          |   | $      | 4,509        |   |   | $ | 4,488 |   |
| Interest expense                                 |   |      | 2,350  |   |     |   | 2,218  |          |   |   | 2,096        |   |   |   | 1,997 |   |
| Net interest income                              |   |      | 2,220  |   |     |   | 2,266  |          |   |   | 2,413        |   |   |   | 2,491 |   |
| Provision for loan losses                        |   |      | 160    |   |     |   | 230    |          |   |   | 300          |   |   |   | 400 |   |
| Net interest income after                        |   |      |   |   |     |   |   |          |   |   |         |   |   |   |   |   |
| provision for loan losses                        |   |      | 2,060  |   |     |   | 2,036  |          |   |   | 2,113        |   |   |   | 2,091 |   |
| Noninterest income (loss)                        |   |      | 913    |   |     |   | 887    |          |   |   | 706          |   |   |   | 713 |   |
| Noninterest expense                              |   |      | 2,398  |   |     |   | 2,811  |          |   |   | 2,657        |   |   |   | 2,687 |   |
| Income (loss) before income tax expense          |   |      |   |   |     |   |   |          |   |   |         |   |   |
| (benefit) and noncontolling interest in          |   |      |   |   |     |   |   |          |   |   |         |   |   |
| net income of consolidated subsidiary            |   |      | 575    |   |     |   | 112    |          |   |   | 162          |   |   |   | 117 |   |
| Income tax expense (benefit)                     |   |      | 218    |   |     |   | 45     |          |   |   | 57           |   |   |   | 38 |   |
| Net income (loss) before noncontrolling interest |   |      |   |   |     |   |   |          |   |   |         |   |   |
| in net income of consolidated subsidiary         |   |      | 357    |   |     |   | 67     |          |   |   | 105          |   |   |   | 79 |   |
| Noncontrolling interest in net income (loss)     |   |      |   |   |     |   |   |          |   |   |         |   |   |
| of consolidated subsidiary                       |   |      | 38     |   |     |   | 19     |          |   |   | -            |   |   |   | (6 | ) |
| Net income                                       |   | $         | 319    |   |     | $      | 48     |          |   | $      | 105          |   |   | $ | 85 |   |
|                                             |   |      |   |   |     |   |   |          |   |   |         |   |   |   |   |   |
| Earnings per share basic and diluted             |   | $         | 0.11   |   |     | $      | 0.02   |          |   | $      | 0.04         |   |   | $ | 0.03 |   |