| |                                                    | Page            
| | -------------------------------------------------- | ----------------
| |                                                    |                 
| | President's Message to Stockholders                | 1               
| |                                                    |                 
| | Selected Consolidated Financial Information        | 2               
| |                                                    |                 
| | Management's Discussion and Analysis               | 4               
| |                                                    |                 
| | Report of Independent Certified Public Accountants | 13              
| |                                                    |                 
| | Consolidated Balance Sheets                        | 14              
| |                                                    |                 
| | Consolidated Statements of Earnings                | 16              
| |                                                    |                 
| | Consolidated Statements of Comprehensive Income    | 17              
| |                                                    |                 
| | Consolidated Statements of Stockholders' Equity    | 18              
| |                                                    |                 
| | Consolidated Statements of Cash Flows              | 19              
| |                                                    |                 
| | Notes to Consolidated Financial Statements         | 21              
| |                                                    |                 
| | Stockholder Information                            | 38              
| |                                                    |                 
| | Directors and Executive Officers                   | Inside BackCover



The Annual Meeting of Stockholders will be held at our main office located at Myrtle and Sixth Streets,
Independence, Kansas at 10:30 a.m. Independence, Central Standard Time, on January 30, 2002.





**To Our Stockholders, Depositors and Friends:**

It is my pleasure to present to you the 2001 Annual Report of First Independence Corporation,
parent of First Federal Savings and Loan Association of Independence, which reflects results of our
eighth complete year as a stock company.  As you will see by reading the accompanying financial
statements, First Independence had another excellent year with $1,541,000 in net earnings.  Diluted
earnings per share for the 2001 fiscal year were $1.49 based upon 1,031,498 adjusted weighted average
common shares outstanding during the year ended September 30, 2001.

An additional way to judge the strength of a company is by its capital.  First Independence
Corporation's stockholders' equity at September 30, 2001, was $14.2 million. This represents an equity-to-asset ratio of 9.28% and a book value per share of $14.51.  This financial position has allowed First
Independence Corporation to distribute to stockholders a portion of its net earnings in the form of a
dividend.  During fiscal 2001, a total dividend of $.4375 per share was authorized by the Board of
Directors, which resulted in a payment to stockholders of an aggregate dividend of approximately
$436,000.  The current $.1125 quarterly dividend per share represents a 12.5% increase over the fiscal
2000 quarterly dividend per share.  As with every decision we make, our dividend policy is designed to
take into consideration our responsibility to and interest in our stockholders.

First Independence continues to be committed to our market.  This is evidenced by the $58.7
million in loans originated by the company during the fiscal year.  These loans provide funds for many
people in our community to build, buy, remodel, or consolidate other financial obligations. Additionally,
we strive to provide our savings customers a safe, secure bank where they can deposit their funds and
earn a fair rate of return, as well as choose from the variety of accounts we offer.  The success of this
commitment is evidenced by the increase in deposits of $9.5 million, which translates to a 10.03%
increase over last year.

On behalf of the directors, officers and staff of First Federal and First Independence Corporation,
we thank you for your continued support and confidence.

| | Sincerely,/s/ Larry G. SpencerLarry G. Spencer
President and Chief Executive Officer
| | ------------------------------------------------------------------------------------

MYRTLE & SIXTH              P.O. DRAWER 947              INDEPENDENCE, KANSAS 67301              620/331-1660

**SELECTED CONSOLIDATED FINANCIAL INFORMATION**

|                                                        | **September 30,**           
|------------------------------------------------------- | ----------------------------
|                                                        | **2001**                    
|                                                        | **(In Thousands)**          
|**Selected Financial Condition Data:**                  |                             
|                                                        |                             
|Total assets                                            | $152,730                    
|Cash, cash equivalents and interest-bearing deposits    | 2,293                       
|Loans receivable                                        | 132,838                     
|Mortgage-backed securities - at cost                    | 7,281                       
|Investment securities - at cost                         | 4,195                       
|Securities available for sale                           | 1,014                       
|Real estate acquired through foreclosure                | 356                         
|Deposits                                                | 103,569                     
|Borrowings                                              | 33,000                      
|Stockholders' equity                                    | 14,175                      
|                                                        |                             
|                                                        | **Year Ended September 30,**
|                                                        | **2001**                    
|                                                        | **(In Thousands)**          
|**Selected Operations Data:**                           |                             
|                                                        |                             
|Total interest income                                   | $ 11,931                    
|Total interest expense                                  | 6,967                       
|Net interest income                                     | 4,964                       
|Provision for losses on loans                           | 177                         
|Net interest income after provision for losses on loans | 4,787                       
|Non-interest income                                     | 479                         
|Non-interest expense                                    | (2,911)                     
|Earnings before income tax expense                      | 2,355                       
|Income tax expense                                      | 814                         
|Net earnings                                            | $   1,541                   
|Basic earnings per share                                | $     1.55                  
|Diluted earnings per share                              | $     1.49                  

**FINANCIAL RATIOS**

|                                                                                       | **September 30,**
|-------------------------------------------------------------------------------------- | -----------------
|                                                                                       | **2001**         
|                                                                                       |                  
|**Selected Financial Ratios and Other Data:**                                          |                  
|                                                                                       |                  
|**Performance Ratios:**                                                                |                  
|Return on assets (ratio of net earnings to
      average total assets)                 | 1.01%            
|Interest rate spread information:                                                      |                  
|Average during period                                                                  | 2.89             
|End of period                                                                          | 2.65             
|Net interest margin (1)                                                                | 3.34             
|Ratio of operating expense to average total
      assets                               | 1.92             
|Return on equity (ratio of net earnings to
      average equity)                       | 11.03            
|                                                                                       |                  
|**Quality Ratios:**                                                                    |                  
|Non-performing assets to total assets,
      at end of period (2)                      | 1.81             
|Allowance for loan losses to non-performing
      assets, at end of period (2)         | 26.20            
|Allowance for loan losses to non-performing
      loans at end of period               | 30.09            
|                                                                                       |                  
|**Capital Ratios:**                                                                    |                  
|Equity to total assets, at end of period                                               | 9.28             
|Average equity to average assets                                                       | 9.19             
|Ratio of average interest-earning assets to
      average interest-bearing liabilities | 109.56           
|Dividend payout ratio (3)                                                              | 29.36            
|Number of full service offices                                                         | 3                

(1)  Net interest income divided by average interest-earning assets.
(2)  Includes non-accruing loans, accruing loans delinquent 90 days or more and assets acquired through
foreclosure.
(3)  Dividends paid per share divided by earnings per share.

|[EARNINGS PER SHARE GRAPH |       | [DIVIDENDS PAID PER SHARE GRAPH
|------------------------- | ----- | -------------------------------
|                          | Basic | Diluted                        
|2001                      | $1.55 | $1.49                          
|2000                      | $1.36 | $1.30                          
|1999                      | $1.13 | $1.07                          
|1998                      | $0.98 | $0.92                          
|1997                      | $0.73 | $0.68]                         

***Management's Discussion and Analysis of Financial Condition and Results of Operations***

---

On October 5, 1993, First Federal Savings and Loan Association of Independence, Kansas ("First
Federal" or the "Association") converted from a federally chartered mutual savings association to a
federally chartered stock savings association and concurrently became a wholly-owned subsidiary of
First Independence Corporation ("First Independence" or the "Company").  First Independence earnings
are primarily dependent on the operations of First Federal.  Currently, First Independence has no business
activity other than acting as the holding company for First Federal.  As a result, the following discussion
relates primarily to the activities of First Federal.  This discussion should be read in conjunction with the
consolidated financial statements and accompanying notes included elsewhere in this report.

Our business consists of attracting deposits from the general public and using these deposits
primarily to make residential mortgage and other loans.  Our revenues are derived principally from
interest charges on mortgage loans and mortgage-backed securities and, to a lesser extent, from interest
earned on investment securities and interest-bearing deposits.  In addition, we receive fees from loan
originations, late payments and for various services related to transaction and other deposit accounts, and
dividends on our Federal Home Loan Bank stock.  Operating expenses consist primarily of employee
compensation and benefits, occupancy and equipment expenses, data processing fees and other general
and administrative expenses.

Our operations, and the operations of savings institutions and their holding companies in general,
are significantly affected by general economic conditions and the related monetary and fiscal policies of
regulatory agencies.  Deposit flows and cost of funds are influenced by interest rates on competing
investments and general market rates of interest.  Lending activities are affected by the demand for
financing of real estate and other types of assets, which in turn is affected by the interest rates at which
such financing may be offered and other factors including the availability of funds.  The primary sources
of funds for lending activities include deposits, loan repayments, borrowings, sales and maturities of
securities available for sale and funds provided from operations.

***Forward-Looking Statements*****

Certain statements in this report that relate to our plans, objectives or future performance may be
deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform
Act of 1995.  These statements are based on our current expectations.  Actual strategies and results in
future periods may differ materially from those currently expected because of various risks and
uncertainties.  Additional discussion of factors affecting our business and prospects is contained in our
periodic filings with the Securities and Exchange Commission.

***Asset/Liability Management and Market Risk*****

***Qualitative Aspects of Market Risk.***  We derive our income primarily from the excess of interest
collected over interest paid.  The rates of interest we earn on assets and pay on liabilities generally are
established contractually for a period of time.  Market interest rates change over time.  Accordingly, our
results of operations, like those of many financial institutions, are impacted by changes in interest rates.
Our ability to adapt to changes in interest rates is known as interest rate risk, and is our most significant
market risk.

***Quantitative Aspects of Market Risk.***  In an attempt to manage our exposure to changes in
interest rates and comply with applicable regulations, we monitor our interest rate risk.  In monitoring
interest rate risk, we continually analyze and manage our assets and liabilities based on their payment
streams and interest rates, the timing of their maturities, and their sensitivity to actual or potential
changes in market interest rates.

The matching of assets and liabilities may be analyzed by examining the extent to which they are
"interest rate sensitive" and by monitoring an institution's interest rate sensitivity "gap."  An asset or
liability is said to be interest rate sensitive within a specific time period if it will mature or reprice within
that time period.  The interest rate sensitivity gap is defined as the difference between the amount of
interest-earning assets anticipated, based upon certain assumptions, to mature or reprice within a specific
time period and the amount of interest-bearing liabilities anticipated, based upon certain assumptions, to
mature or reprice within that same time period.  A gap is considered positive when the amount of interest
rate sensitive assets exceeds the amount of interest rate sensitive liabilities.  A gap is considered negative
when the amount of interest rate sensitive liabilities exceeds the amount of interest rate sensitive assets.
During a period of rising interest rates, a negative gap would tend to adversely affect operations while a
positive gap would tend to benefit operations.  During a period of falling interest rates, the opposite
would be expected to occur.

Since the early 1980's, we have emphasized, subject to market conditions, the origination and
holding of adjustable-rate mortgage loans and loans with shorter terms to maturity than traditional 30-year, fixed-rate loans.  Our strategy has been to increase the percentage of assets in our portfolio with
more frequent repricing or shorter maturities.  In response to customer demand, however, we continue to
originate for our loan portfolio fixed-rate mortgages with terms not greater than 30 years.  In recent
periods, we have also purchased adjustable-rate mortgage-backed securities.  At September 30, 2001,
approximately $30.0 million, or 21.5% of the total loans secured by real estate, were adjustable-rate
mortgage loans.  On the same date, we also had $5.5 million in adjustable-rate mortgage-backed
securities.



---

Our adjustable-rate mortgage loans and mortgage-backed securities adjust to various indices.  We
monitor the mix of indices on our adjustable rate assets and seek, consistent with market conditions, to
achieve a close match in the repricing characteristics of our assets and liabilities.

To increase the interest rate sensitivity of our assets, we have also maintained short and
intermediate-term investment securities and other assets.  At September 30, 2001, we had $3.9 million of
investment securities and interest-bearing deposits maturing or repricing within three years.  Finally, we
have undertaken various marketing programs from time to time over the last decade in order to extend the
term of our deposit liabilities.  We offer a longer term certificate of deposit program in an attempt to
reduce deposit outflows which were being lost as a result of the general decline in market rates of
interest.  This program offers two certificate products which have 4- and 5-year terms.  At September 30,
2001, we had approximately $9.5 million in these two products.

In the future, in managing our interest rate sensitivity, we intend to continue to stress the
origination of adjustable-rate mortgage loans, subject to market conditions, the purchase of adjustable-rate mortgage-backed securities and the maintenance of a relatively high level of short-term securities
and other assets.

As part of our effort to monitor and manage interest rate risk, we use the "net portfolio value"
methodology adopted by the Office of Thrift Supervision.  This approach calculates the difference
between the present value of expected cash flows from assets and liabilities, as well as cash flows from
off balance sheet contracts, arising from an assumed 200 basis point increase or decrease in interest rates.
Under Office of Thrift Supervision regulations, an institution's "normal" level of interest rate risk for this
assumed change in interest rates is a decrease in the institution's net portfolio value not exceeding 2% of
assets.

Presented below, as of September 30, 2001, is an analysis of First Federal's interest rate risk as
measured by changes in net portfolio value for instantaneous and sustained parallel shifts in the yield
curve, in 100 basis point increments, up and down 200 basis points and compared to Board policy limits.
The table was prepared and furnished to us by the Office of Thrift Supervision.  Assumptions used in
calculating the amounts in this table were determined by the Office of Thrift Supervision (dollars in
thousands):

|**Interest Rate Sensitivity of Net Portfolio Value (NPV)**
|----------------------------------------------------------
|                                                          
|**ChangeIn Rates**                                        
|+200 bp                                                   
|+100 bp                                                   
|0 bp                                                      
|-100 bp                                                   
|-200 bp                                                   

As illustrated in the table, we have structured our assets and liabilities to minimize our exposure
to interest rate risk.  In the event of a 200 basis point change in interest rates, we would experience a 3%
increase in net portfolio value in a declining rate environment and a 26% decrease in a rising rate
environment.  During periods of rising interest rates, the value of monetary assets and liabilities generally
decline.  Conversely, during periods of falling interest rates, the value of monetary assets and liabilities
generally increase.  However, the amount of change in value of specific assets and liabilities due to
changes in interest rates is not the same in a rising interest rate environment as in a falling interest rate
environment (i.e., as indicated above, the amount of value increase under a specific rate decline may not
equal the amount of value decrease under an identical upward rate movement).

Certain shortcomings are inherent in the method of analysis presented in the foregoing table.  For
example, although certain assets and liabilities may have similar maturities or periods to repricing, they
may react in different degrees to changes in market interest rates.  Also, the interest rates on certain types
of assets and liabilities may fluctuate in advance of changes in market interest rates, while interest rates
on other types may lag behind changes in market rates.  Additionally, certain assets, such as adjustable-rate mortgage loans, have features which restrict changes in interest rates on a short-term basis and over
the life of the asset.  Further, in the event of a change in interest rates, prepayment and early withdrawal
levels would likely deviate significantly from those assumed in calculating the table.  Finally, the ability
of many borrowers to service their debt may decrease in the event of an interest rate increase.  As a
result, the actual effect of changing interest rates may differ from that presented in the foregoing table.

***Management's Discussion and Analysis of Financial Condition and Results of Operations***

---

***Asset Quality***

The ratio of non-performing assets to total assets is one indicator of our exposure to credit risk.
Our non-performing assets consist of non-accruing loans, accruing loans delinquent 90 days or more,
troubled debt restructurings, and foreclosed assets, which have been acquired as a result of foreclosure or
deed-in-lieu of foreclosure.  At September 30, 2001, non-performing assets were approximately
$2,758,000, which represents an increase of $1,024,000, or 59.1% as compared to September 30, 2000.
The ratio of non-performing assets to total assets at September 30, 2001 was 1.81% compared to 1.16%
at September 30, 2000.  Included in non-accruing loans at September 30, 2001, were seven construction
loans totaling $670,000 secured by one- to four-family real estate,  twenty one loans totaling $1,022,000
secured by one- to four-family real estate and thirteen consumer loans totaling $103,000.  All non-accruing loans at September 30, 2001, were located in our primary market area except for one loan
totaling $310,000 secured by a single family residence located in Texas.  At September 30, 2001,
accruing loans delinquent 90 days or more included sixteen loans totaling $607,000 secured by one- to
four-family real estate.  All of our accruing loans delinquent 90 days or more were secured by real estate
located in our primary market except for three loans totaling $60,000 secured by single family residences
located in Wichita, Kansas and the surrounding area.  All of the non-performing construction loans were
originated at our loan production office in Lawrence, Kansas.  In an effort to reduce non-performing
loans in the future, since the second quarter of fiscal 2001, management has tightened its underwriting
criteria for construction loans of manufactured homes.  At September 30, 2001, real estate acquired
through foreclosure consisted of seven single family residences located in our primary market area.  The
properties have a total carrying value of $356,000 and are currently offered for sale.

[NON-PERFORMING ASSETS TO TOTAL ASSETS GRAPH
                            2001 - 1.81%
                            2000 - 1.16%
                            1999 - 1.84%
                            1998 - 1.07%
                            1997 - 1.25%]

We have taken into account our non-performing assets and the composition of the loan portfolio
in establishing our allowance for loan losses.  The allowance for loan losses totaled $723,000 at
September 30, 2001, which represented a $35,000 decrease from the allowance for loan losses at
September 30, 2000.  The ratio of the allowance for loan losses as a percent of total loans decreased from
 .61% at September 30, 2000 to .54% at September 30, 2001, primarily due to the increase in total loans
receivable at September 30, 2001.  The allowance for loan losses as a percent of non-performing loans
decreased from 57.86% at September 30, 2000 to 30.09% at September 30, 2001, primarily due to the
increase in non-performing loans at September 30, 2001.  At September 30, 2001, the Company's non-performing loans were comprised primarily of one- to four-family residential loans.

The allowance for loan losses is determined based upon an evaluation of pertinent factors
underlying the types and quality of our loans.  We consider such factors as the repayment status of a loan,
the estimated net realizable value of the underlying collateral, the borrower's ability to repay the loan,
current and anticipated economic conditions which might affect the borrower's ability to repay the loan
and our past statistical history concerning charge-offs.



---

**Results of Operations**

*Average Balances, Interest Rates and Yields.*  The following table presents for the periods indicated the total dollar amount of interest
income from average interest-earning assets and related yields, as well as the interest expense on average interest-bearing liabilities, expressed
both in dollars and rates.  No tax equivalent adjustments were made.  All average balances are monthly average balances.  The use of monthly
averages rather than daily averages does not have a significant effect upon our results.  Non-accruing loans have been included in the table as
loans carrying a zero yield.

|                                                                                    | **Year Ended September 30,** 
|----------------------------------------------------------------------------------- | -----------------------------
|                                                                                    | **2001**                     
|                                                                                    | **AverageOutstandingBalance**
|                                                                                    | **(Dollars in Thousands)**   
|Interest-earning assets:                                                            |                              
|Loans receivable (1)                                                                | $130,336                     
|Mortgage-backed securities                                                          | 8,042                        
|Investment securities                                                               | 6,358                        
|Federal Home Loan Bank stock                                                        | 2,206                        
|Federal funds sold                                                                  | 400                          
|Other                                                                               | 1,355                        
|Total interest-earning assets                                                       | 148,697                      
|                                                                                    |                              
|Interest-bearing liabilities:                                                       |                              
|Demand and NOW deposits                                                             | 32,744                       
|Savings deposits and certificates                                                   | 64,389                       
|Federal Home Loan Bank advances                                                     | 38,584                       
|Total interest-bearing liabilities                                                  | 135,717                      
|                                                                                    |                              
|Net interest income                                                                 |                              
|Net interest rate spread                                                            |                              
|Net earning assets                                                                  | $ 12,980                     
|Net yield on average
   interest-earning assets                                     |                              
|Average interest-earning assets
      to average interest-bearing       liabilities |                              

(1) Calculated net of deferred loan fees, loan discounts, loans in process and loss reserves.

***Management's Discussion and Analysis of Financial Condition and Results of Operations***

---

***Rate/Volume Analysis of Net Interest Income***

The following schedule presents the dollar amount of changes in interest income and interest expense for major components of
interest-earning assets and interest-bearing liabilities.  For each category of interest-earning assets and interest-bearing liabilities,
information is provided on changes attributable to (i)  changes in volume (i.e., changes in volume multiplied by old rate) and (ii)
changes in rate (i.e., changes in rate multiplied by old volume).  For purposes of this table, changes attributable to both rate and
volume, which cannot be segregated, have been allocated proportionately to the change due to volume and the change due to rate.

|                                   | **Year Ended September 30,**
|---------------------------------- | ----------------------------
|                                   | **2001 vs. 2000**           
|                                   | **Increase(Decrease)Due to**
|                                   | **Volume**                  
|                                   | **(Dollars in Thousands)**  
|                                   |                             
|Interest-earning assets:           |                             
|Loans receivable                   | $835                        
|Mortgage-backed securities         | (111)                       
|Investment securities              | (155)                       
|Federal Home Loan Bank stock       | 34                          
|Federal funds sold                 | 4                           
|Other                              | 20                          
|Total interest-earning assets      | 627                         
|                                   |                             
|Interest-bearing liabilities:      |                             
|Demand and NOW deposits            | 10                          
|Savings deposits and certificates  | 132                         
|Federal Home Loan Bank advances    | 213                         
|Total interest-bearing liabilities | $355                        
|                                   |                             
|Net interest income                |                             

The following table sets forth the weighted average yields on our interest-earning assets, the weighted average
interest rates on interest-bearing liabilities and the interest rate spread between the weighted average yields and rates
at the dates indicated.  Non-accruing loans have been included in the table as carrying a zero yield.

|                                                                          | **At September 30,**
|------------------------------------------------------------------------- | --------------------
|                                                                          | **2001**            
|                                                                          |                     
|**Weighted average yield on:**                                            |                     
|Loans receivable                                                          | 7.74%               
|Mortgage-backed securities                                                | 5.82                
|Investment securities                                                     | 6.15                
|Federal funds sold                                                        | 2.75                
|Other interest-earning assets                                             | ---                 
|Combined weighted average yield on
       interest-earning assets         | 7.50                
|                                                                          |                     
|**Weighted average rate paid on:**                                        |                     
|Savings deposits and certificates                                         | 5.31                
|Demand and NOW deposits                                                   | 3.10                
|Federal Home Loan Bank advances                                           | 5.71                
|Combined weighted average rate paid
      on interest-bearing liabilities | 4.85                
|                                                                          |                     
|Spread                                                                    | 2.65                

---



Total assets increased $3.6 million, or 2.4%, from $149.1 million at September 30, 2000 to
$152.7 million at September 30, 2001.  This increase consisted primarily of increases in net loans
receivable of $7.7 million, cash and cash equivalents of $400,000 and Federal Home Loan Bank stock of
$300,000.  These increases in assets, along with reductions in advances from the Federal Home Loan
Bank of Topeka of $6.1 million and accrued expenses and other of $200,000, were funded by increases in
deposits of $9.5 million, and the redeployment of funds received from investment securities maturing or
called of $3.3 million and repayments of mortgage-backed securities of $1.5 million.

[TOTAL ASSETS GRAPH
              (In Thousands)
              2001 - $152,730
              2000 - $149,130
              1999 - $138,131
              1998 - $124,337
              1997 - $112,523]

Loans receivable increased $7.7 million from $125.1 million at September 30, 2000, to $132.8
million at September 30, 2001.  The increase was primarily due to a $6.3 million increase in construction
loans originated at our loan production office in Lawrence, Kansas.  These construction loans generally
have terms of nine months or less and interest rates tied to the prime rate plus a margin.  Construction
loans reduce interest rate risk and improve earnings due to their shorter terms and higher rate when
compared to permanent one- to four-family loans.  However, construction loans also increase credit
quality risk.  To a lesser extent, the increase was due to a $1.4 million increase in loans originated in our
market area consisting primarily of 15- and 30-year fixed-rate loans, mortgage loans with a fixed rate for
the first five years of the loan term that automatically convert to one-year adjustable rate loans during the
sixth year of the loan term and mortgage loans with a fixed rate for the first three years of the loan term
that automatically convert to one-year adjustable rate loans during the fourth year of the loan term.

|[LOANS PIE CHART                                                          
|--------------------------------------------------------------------------
|Multi-familyNon-ResidentialConstructionHome EquityOther Consumer1-4 Family

Deposits increased $9.5 million from $94.1 million at September 30, 2000, to $103.6 million at
September 30, 2001.  Deposits increased primarily due to public entities depositing short-term funds into
the "Platinum" money fund account and new account growth at the Coffeyville, Kansas branch office.
The "Platinum" money fund account offers tiered rates on a limited transaction account with the highest
rate paid on balances of $50,000 and above.  Management feels the "Platinum" money fund provides a
lower risk, insured alternative for deposit customers considering higher risk investments in order to get
higher yields than standard money market accounts.

Total borrowed funds decreased $6.1 million from $39.1 million at September 30, 2000 to $33.0
million at September 30, 2001.  The decrease was primarily due to scheduled principal repayments of
advances obtained from the Federal Home Loan Bank of Topeka.  Most of the advances obtained from
the Federal Home Loan Bank of Topeka were invested in loans receivable at a positive spread over the
term of the advances.

Total stockholders' equity increased $411,000 from $13.8 million at September 30, 2000 to $14.2
million at September 30, 2001.  The increase was primarily due to net earnings of $1,541,000, common
stock option exercises of $131,000, repayment of employee stock ownership debt of $20,000, an increase
in the unrealized gains on securities available for sale of $13,000 and fair value adjustment of $6,000 on
ESOP shares committed for release.  These increases were partially offset by the use of $864,000 to
repurchase 66,687 shares of common stock and by dividends of $436,000 paid to stockholders.

[STOCKHOLDERS' EQUITY TO TOTAL ASSETS GRAPH
                            2001 -   9.28%
                            2000 -   9.23%
                            1999 -   9.49%
                            1998 -   9.73%
                            1997 - 10.25%]

***Management's Discussion and Analysis of Financial Condition and Results of Operations***

---



***General****.*  Net earnings for the fiscal year ended September 30, 2001 were $1,541,000 as
compared to $1,376,000 for the fiscal year ended September 30, 2000, an increase of $165,000, or
12.0%.  The increase in net earnings was primarily due to increases in net interest income of $340,000
and noninterest income of $28,000.  These increases were partially offset by increases in noninterest
expense of $97,000, provision for loan losses of $78,000 and income tax expense of $27,000.

[NET EARNINGS GRAPH
(In Thousands)
2001 - $1,541
2000 - $1,376
1999 - $1,143
1998 - $   901
1997 - $   712]

***Net Interest Income****.*Net interest income increased $340,000, or 7.3%, for the fiscal year ended
September 30, 2001 as compared to the fiscal year ended September 30, 2000.  This increase was due
primarily to an increase in interest income of $745,000, or 6.7%; offset partially by an increase in interest
expense of $405,000, or 6.2%.  Interest income increased primarily due to a $7.0 million increase in the
average balance of interest-earning assets and, to a lesser extent, a 12 basis point increase in the average
yield on interest-earning assets.  Interest expense increased primarily due to a $6.3 million increase in the
average balance of interest-bearing liabilities and, to a lesser extent, a 6 basis point increase in the
average rate paid on interest-bearing liabilities.  The ratio of average interest-earning assets to average
interest-bearing liabilities increased from 109.47% for the fiscal year ended September 30, 2000 to
109.56% for the fiscal year ended September 30, 2001.

***Interest Income****.*  Interest income for the fiscal year ended September 30, 2001, increased to
$11.9 from $11.2 million for the fiscal year ended September 30, 2000.  This increase was caused
primarily by a $7.0 million increase in the average outstanding amount of interest-earning assets during
the fiscal year ended September 30, 2001, as compared to the fiscal year ended September 30, 2000.  To
a lesser extent, the increase was due to an increase in the average yield on interest-earning assets.  The
average yield on interest-earning assets increased by 12 basis points to 8.02% during fiscal 2001, from
7.90% during fiscal 2000.  This increase was caused primarily by a change in the mix of interest-earning
assets to a higher percentage of loans receivable due to an increase in the construction loan portfolio and
decreases in the investment and mortgage-backed securities portfolios.  These construction loans carry a
higher rate of interest than other loans.  Therefore, the average yield on loans receivable increased from
8.13% during fiscal 2000, to 8.26% during fiscal 2001.

***Interest Expense****.*  Interest expense for the fiscal year ended September 30, 2001, increased by
$405,000 to $7.0 million as compared to $6.6 million for the fiscal year ended September 30, 2000.  This
increase in interest expense was due primarily to a $6.3 million increase in the average outstanding
amount of interest-bearing liabilities during the fiscal year ended September 30, 2001 as compared to the
fiscal year ended September 30, 2000.  To a lesser extent, the increase was due to the six basis point
increase in average interest rates paid on interest-bearing liabilities.  The increase in interest-bearing
liabilities was primarily due to a $3.6 million increase in the average outstanding balance of advances
obtained from the Federal Home Loan Bank of Topeka and, to a lesser extent, a $2.7 million increase in
the average outstanding balance of deposits.

***Provision for Loan Losses****.*  The provision for loan losses represents a charge to earnings to
maintain the allowance for loan losses at a level we believe is adequate to absorb potential losses in the
loan portfolio.  The provision for loan losses amounted to $177,000 for the fiscal year ended September
30, 2001 as compared to $99,000 for the same period in 2000.  This increase in provision for loan losses
was in recognition of the increased balance of construction loans in our loan portfolio and the increase in
the balance of non-performing assets.  We believe we use the best information available in providing for
probable loan losses and we believe that the allowance is adequate at September 30, 2001.  Future
adjustments to the allowance could be necessary, however, and net earnings could be affected if
circumstances and/or economic conditions differ substantially from the assumptions used in making the
initial determinations.

***Noninterest Income****.*  Noninterest income increased $28,000 to $479,000 during the fiscal year
ended September 30, 2001 as compared to $451,000 for the fiscal year ended September 30, 2000.  The
increase was primarily a result of increases in checking and deposit account fees and increased late
charges and other fees associated with mortgage loans.

***Noninterest Expense****.*  Total noninterest expense increased to $2.9 million for the fiscal year
ended September 30, 2001 from $2.8 million for the fiscal year ended September 30, 2000, an increase of
$97,000, or 3.5%.  The increase was primarily due to increases in other operating expense of $73,000,
occupancy and equipment of $44,000 and employee compensation and benefits of $15,000.  These
increases were partially offset by a decrease in foreclosed assets expense of $28,000 and data processing
fees of $7,000.  The increase in other operating expense was primarily due to a $40,000 increase in legal
expense related to administrative, loan workout and foreclosure issues, a $9,000 increase in NOW
accounts expense and a $5,000 increase in charitable contributions.  The increase in compensation and
benefits expense was the result of normal, annual cost of living increases in salaries and bonuses.

---

***Income Tax Expense****.*  Income tax expense was $814,000 for the fiscal year ended September
30, 2001 compared to $787,000 for the fiscal year ended September 30, 2000, an increase of $27,000.
This increase was primarily due to an increase in pre-tax earnings during the 2001 period as compared to
the 2000 period.  Our effective tax rates were 34.6% and 36.4% for the fiscal years ended September 30,
2001 and September 30, 2000, respectively.

***Liquidity and Capital Resources***

Our primary sources of funds are deposits, principal and interest payments on loans and
mortgage-backed securities, Federal Home Loan Bank of Topeka advances and funds provided by
operations.  While scheduled loan and mortgage-backed security repayments and maturity of short-term
investments are a relatively predictable source of funds, deposit flows are greatly influenced by general
interest rates, economic conditions and competition.  We use our liquid resources principally to meet
ongoing commitments, to fund maturing certificates of deposit and deposit withdrawals, to invest, to fund
existing and future loan commitments, to maintain liquidity, and to meet operating expenses.  Current
Office of Thrift Supervision regulations require First Federal to maintain adequate cash and eligible
investments in order to meet our liquidity needs deemed necessary to fund deposit withdrawals and other
short-term funding needs.  Management believes that we have and will continue to have adequate
liquidity for the foreseeable future.  As of September 30, 2001, First Federal's liquidity ratio was 1.96%
as compared to 7.89% at September 30, 2000.  This decrease in liquidity was primarily due to liquid
investments being invested in higher yielding mortgage loans which reduced our liquidity ratio to a more
normal level.  First Federal normally attempts to maintain liquidity between 2% and 4%.

Our primary investing activity is the origination of mortgage loans and the purchase of mortgage-backed and other securities.  At September 30, 2001, mortgage loans and mortgage-backed securities
accounted for 91.7% of total assets.  We have been able to generate sufficient cash through the retail
deposit market, our traditional funding source, and through short-term borrowings, to provide the cash
utilized in investing activities.  A line of credit has also been in place with the Federal Home Loan Bank
of Topeka since 1995.  Line of credit draws, as with all other credit transactions, are subject to the
maximum amount of credit available under the Federal Home Loan Bank of Topeka's credit policy.  The
line of credit is scheduled to mature on February 1, 2002, and will be renewed for another one-year term
at that time.  The line of credit is subject to various conditions, including the pledge of acceptable
collateral.  The primary purpose of the line of credit is to serve as a back-up liquidity facility, however,
we also utilize the line of credit to purchase investment securities and fund other commitments.  At
September 30, 2001, there was no outstanding balance on the line of credit.

Liquidity management is both a daily and long-term responsibility of management.  We adjust
our investments in liquid assets based upon our assessment of (i) expected loan demand, (ii) expected
deposit flows, (iii) yields available on interest-bearing deposits, and (iv) the objectives of our
asset/liability management program.  Excess liquidity is invested generally in interest-bearing overnight
deposits and other short-term government and agency obligations.  If we require additional funds, beyond
our internal ability to generate, we have additional borrowing capacity with the Federal Home Loan Bank
of Topeka of approximately $28.1 million at September 30, 2001.

We anticipate that we will have sufficient funds available to meet current loan commitments.  At
September 30, 2001, we had outstanding commitments to extend credit which amounted to $2.2 million,
including commitments on construction loans.  We are not aware of any trends, events or uncertainties
which will have or that are reasonably likely to have a material effect on our liquidity, capital resources
or operations.

Certificates of deposit scheduled to mature in one year or less at September 30, 2001 totaled
approximately $41.9 million.  We believe that a significant portion of these deposits will remain with
First Federal.  There can be no assurance, however, that we can retain all of these deposits.  At
September 30, 2001, we had $33.0 million in advances from the Federal Home Loan Bank of Topeka
with $5.0 million maturing in one year or less.

First Federal has minimum capital standards which generally require the maintenance of
regulatory capital sufficient to meet each of three tests:  the tangible capital requirement, the core capital
requirement, and the risk-based capital requirement.  The tangible capital requirement provides for
minimum tangible capital (defined as retained earnings less all intangible assets) equal to 1.5% of
adjusted total assets.  The core capital requirement provides for minimum core capital (tangible capital
plus supervisory goodwill) equal to 4.0% of assets.  The risk-based capital requirement provides for the
maintenance of core capital plus general loss allowances (less a specified percentage of certain equity
investments) equal to 8.0% of risk-weighted assets.  In computing risk-weighted assets, we multiply the
book value of each asset on our balance sheet by a defined risk-weighting factor (e.g., one- to four-family
residential loans carry a risk-weighted factor of 50%).  We have reviewed these capital standards and
determined that we are in compliance with each of the three requirements.  As of September 30, 2001,
our tangible capital, core capital, and risk-based capital of $14.1 million, $14.1 million, and $14.8 million
exceeded the applicable minimum requirements by $11.8 million, $8.0 million, and $8.7 million,
respectively.

***Management's Discussion and Analysis of Financial Condition and Results of Operations***

---

The following table sets forth our compliance with such requirements at September 30, 2001.

|                   | Office of ThriftSupervision requirement | First Federal's capital levelat September 30, 2001
|------------------ | --------------------------------------- | --------------------------------------------------
|Capital standard   | % ofAssets                              | Amount                                            
|                   | (Dollars in Thousands)                 
|                   |                                         |                                                   
|Tangible capital   | 1.50%                                   | $2,291                                            
|Core capital       | 4.00                                    | 6,111                                             
|Risk-based capital | 8.00                                    | 6,136                                             

See Note L of Notes to Consolidated Financial Statements for additional information.

We have reviewed our regulatory restrictions relating to loans to one borrower, qualification as a
qualified thrift lender, and other restrictions on lending and investment, and have determined that, based
on our capital position and lending and investment policies, these restrictions have not had a material
impact on our operations.

***Impact of Inflation and Changing Prices***

The financial statements and related data presented herein have been prepared in accordance
with generally accepted accounting principles, which require the measurement of financial position and
results of operations in terms of historical dollars without considering changes in the relative purchasing
power of money over time because of inflation.  As a result, interest rates have a more significant impact
on our performance than the effects of general levels of inflation.  Interest rates do not necessarily move
in the same direction or in the same magnitude as the prices of goods and services.

|**Accountants andManagement Consultants**
Grant Thornton LLPThe US Member Firm ofGrant Thornton International | Grant Thornton [LOGO]
|------------------------------------------------------------------------------------------------------------- | ---------------------



Board of DirectorsFirst Independence Corporation and Subsidiary

We have audited the accompanying consolidated balance sheets of First Independence Corporation and Subsidiary
as of September 30, 2001 and 2000, and the related consolidated statements of earnings, comprehensive income,
stockholders' equity and cash flows for the years then ended.  These consolidated financial statements are the
responsibility of the Corporation's management.  Our responsibility is to express an opinion on these consolidated
financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the United States of America.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement.  An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements.  An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall financial statement
presentation.  We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated
financial position of First Independence Corporation and Subsidiary as of September 30, 2001 and 2000, and the
consolidated results of their operations and their consolidated cash flows for the years then ended in conformity
with accounting principles generally accepted in the United States of America.

Wichita, Kansas
October 19, 2001

8300 Thorn Drive, Suite 300
Wichita, KS 67226-2708
Tel: 316 265-3231
Fax: 316 383-3274









|                                                                                                                      | **2001**            | 2000           
|--------------------------------------------------------------------------------------------------------------------- | ------------------- | ---------------
|                                                                                                                      |                     |                
|Cash and due from banks                                                                                               | **$       388,664** | $       449,960
|Federal funds sold                                                                                                    | **700,000**         | 700,000        
|Other interest-bearing deposits                                                                                       | **1,204,563**       | 771,082        
|                                                                                                                      |                     |                
|Cash and cash equivalents                                                                                             | **2,293,227**       | 1,921,042      
|                                                                                                                      |                     |                
|                                                                                                                      |                     |                
|Investment securities available for sale                                                                              | **1,013,700**       | 1,992,200      
|Investment securities held to maturity (estimated
   fair value of $4,238,780 in 2001 and $6,416,450
   in 2000)      | **4,194,513**       | 6,496,147      
|Mortgage-backed securities held to maturity
   (estimated fair value of $7,307,557 in 2001
   and $8,671,665 in 2000) | **7,280,822**       | 8,746,988      
|Loans receivable                                                                                                      | **132,838,231**     | 125,118,716    
|Premises and equipment                                                                                                | **1,472,029**       | 1,449,403      
|Federal Home Loan Bank stock, at cost                                                                                 | **2,265,000**       | 1,955,000      
|Accrued interest receivable                                                                                           | **944,606**         | 959,973        
|Real estate acquired through foreclosure                                                                              | **356,325**         | 423,360        
|Other                                                                                                                 | **71,177**          | 67,537         
|                                                                                                                      |                     |                
|Total assets                                                                                                          | **$152,729,630**    | $149,130,366   

The accompanying notes are an integral part of these statements.



|                                                                                         | **2001**         | 2000          
|---------------------------------------------------------------------------------------- | ---------------- | --------------
|                                                                                         |                  |               
|Deposits                                                                                 | **$103,569,165** | $   94,127,537
|Advances from borrowers for taxes and insurance                                          | **890,795**      | 887,080       
|Deferred income taxes                                                                    | **5,989**        | 10,773        
|Advances from Federal Home Loan Bank                                                     | **33,000,000**   | 39,100,000    
|Accrued expenses and other                                                               | **1,088,597**    | 1,240,631     
|                                                                                         |                  |               
|Total liabilities                                                                        | **138,554,546**  | 135,366,021   
|                                                                                         |                  |               
|Stockholders' equity                                                                     |                  |               
|Preferred stock, $.01 par value, 500,000 shares
      authorized; none issued            | **-**            | -             
|Common stock, $.01 par value, 2,500,000 shares
      authorized; 1,649,288 shares issued | **16,493**       | 16,493        
|Additional paid-in capital                                                               | **8,179,514**    | 8,190,682     
|Retained earnings - substantially restricted                                             | **12,968,146**   | 11,863,034    
|Accumulated other comprehensive income (loss),
      net of related taxes                | **8,207**        | (4,692)       
|Required contributions for shares acquired by
      Employee Stock Ownership Plan (ESOP) | **(86,321)**     | (106,632)     
|Treasury stock, 672,651 shares in 2001 and
      630,927 shares in 2000 - at cost        | **(6,910,955)**  | (6,194,540)   
|                                                                                         |                  |               
|Total stockholders' equity                                                               | **14,175,084**   | 13,764,345    
|                                                                                         |                  |               
|Total liabilities and stockholders' equity                                               | **$152,729,630** | $149,130,366  

**First Independence Corporation and Subsidiary**





|                                                    | **2001**         | 2000        
|--------------------------------------------------- | ---------------- | ------------
|                                                    |                  |             
|Interest income                                     |                  |             
|Loans                                               | **$10,764,416**  | $  9,776,440
|Mortgage-backed securities                          | **535,656**      | 645,802     
|Investment securities                               | **402,714**      | 567,588     
|Interest-bearing deposits and other                 | **227,864**      | 196,139     
|                                                    |                  |             
|Total interest income                               | **11,930,650**   | 11,185,969  
|                                                    |                  |             
|Interest expense                                    |                  |             
|Deposits                                            | **4,693,601**    | 4,551,694   
|Borrowed funds                                      | **2,272,817**    | 2,009,857   
|                                                    |                  |             
|Total interest expense                              | **6,966,418**    | 6,561,551   
|                                                    |                  |             
|Net interest income                                 | **4,964,232**    | 4,624,418   
|Provision for loan losses                           | **177,000**      | 99,000      
|                                                    |                  |             
|Net interest income after provision for loan losses | **4,787,232**    | 4,525,418   
|                                                    |                  |             
|Noninterest income                                  |                  |             
|Service charges                                     | **281,195**      | 228,087     
|Other                                               | **197,345**      | 223,080     
|                                                    |                  |             
|                                                    | **478,540**      | 451,167     
|                                                    |                  |             
|Noninterest expense                                 |                  |             
|Employee compensation and benefits                  | **1,634,166**    | 1,619,315   
|Occupancy and equipment                             | **368,852**      | 324,598     
|Data processing fees                                | **226,113**      | 232,943     
|Foreclosed assets, net                              | **(5,101)**      | 22,676      
|Other operating                                     | **686,870**      | 614,051     
|                                                    |                  |             
|                                                    | **2,910,900**    | 2,813,583   
|                                                    |                  |             
|Earnings before income taxes                        | **2,354,872**    | 2,163,002   
|Income tax expense                                  | **813,649**      | 786,639     
|                                                    |                  |             
|NET EARNINGS                                        | **$  1,541,223** | $  1,376,363
|                                                    |                  |             
|Earnings per share                                  |                  |             
|Basic                                               | **$1.55**        | $1.36       
|Diluted                                             | **$1.49**        | $1.30       

The accompanying notes are an integral part of these statements.







|                                                                                                                                                                                                                                              | **2001**       | 2000      
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------- | ----------
|                                                                                                                                                                                                                                              |                |           
|Net earnings                                                                                                                                                                                                                                  | **$1,541,223** | $1,376,363
|                                                                                                                                                                                                                                              |                |           
|Other comprehensive income (loss), net of tax
   Unrealized gains (losses) on securities available
      for sale arising during the period, net
      of income tax expense of $7,906 in 2001 and
      income tax benefit of $4,295 in 2000 | **12,899**     | (7,008)   
|                                                                                                                                                                                                                                              |                |           
|Comprehensive income                                                                                                                                                                                                                          | **$1,554,122** | $1,369,355

The accompanying notes are an integral part of these statements.







|                                                              | Commonstock | Additionalpaid-incapital | Retainedearnings | Accumulatedothercomprehensiveincome (loss),net | Requiredcontributionsfor sharesacquiredby ESOP | Treasurystock | Total      
|------------------------------------------------------------- | ----------- | ------------------------ | ---------------- | ---------------------------------------------- | ---------------------------------------------- | ------------- | -----------
|                                                              |             |                          |                  |                                                |                                                |               |            
|Balance at October 1, 1999                                    | $16,493     | $8,132,391               | $10,876,339      | $ 2,316                                        | $(199,680)                                     | $(5,721,251)  | $13,106,608
|Net earnings for the year                                     | -           | -                        | 1,376,363        | -                                              | -                                              | -             | 1,376,363  
|Cash dividends of $.3875 per share                            | -           | -                        | (389,668)        | -                                              | -                                              | -             | (389,668)  
|Common stock options exercised                                | -           | (9,653)                  | -                | -                                              | -                                              | 58,581        | 48,928     
|Depreciation of securities available   for sale               | -           | -                        | -                | (7,008)                                        | -                                              | -             | (7,008)    
|ESOP loan repayments                                          | -           | -                        | -                | -                                              | 93,048                                         | -             | 93,048     
|Fair value adjustment on ESOP
   shares committed for release | -           | 67,944                   | -                | -                                              | -                                              | -             | 67,944     
|Purchase of 53,187 shares of
   treasury stock                | -           | -                        | -                | -                                              | -                                              | (531,870)     | (531,870)  
|                                                              |             |                          |                  |                                                |                                                |               |            
|Balance at September 30, 2000                                 | 16,493      | 8,190,682                | 11,863,034       | (4,692)                                        | (106,632)                                      | (6,194,540)   | 13,764,345 
|Net earnings for the year                                     | -           | -                        | 1,541,223        | -                                              | -                                              | -             | 1,541,223  
|Cash dividends of $.4375 per share                            | -           | -                        | (436,111)        | -                                              | -                                              | -             | (436,111)  
|Common stock options exercised                                | -           | (17,008)                 | -                | -                                              | -                                              | 147,898       | 130,890    
|Appreciation of securities available   for sale               | -           | -                        | -                | 12,899                                         | -                                              | -             | 12,899     
|ESOP loan repayments                                          | -           | -                        | -                | -                                              | 20,311                                         | -             | 20,311     
|Fair value adjustment on ESOP   shares committed for release  | -           | 5,840                    | -                | -                                              | -                                              | -             | 5,840      
|Purchase of 66,687 shares of   treasury stock                 | -           | -                        | -                | -                                              | -                                              | (864,313)     | (864,313)  
|                                                              |             |                          |                  |                                                |                                                |               |            
|Balance at September 30, 2001                                 | $16,493     | $8,179,514               | $12,968,146      | $ 8,207                                        | $ (86,321)                                     | $(6,910,955)  | $14,175,084

The accompanying notes are an integral part of these statements.







|                                                                                                 | **2001**        | 2000        
|------------------------------------------------------------------------------------------------ | --------------- | ------------
|                                                                                                 |                 |             
|Cash flows from operating activities                                                             |                 |             
|Net earnings                                                                                     | **$ 1,541,223** | $ 1,376,363 
|Adjustments to reconcile net earnings to net cash
      provided by operating activities         |                 |             
|Provision for loan losses                                                                        | **177,000**     | 99,000      
|Depreciation                                                                                     | **143,163**     | 125,705     
|Amortization of premiums and discounts on
            investments and mortgage-backed securities | **24,209**      | 42,360      
|Amortization of deferred loan origination fees                                                   | **(246,850)**   | (232,290)   
|Amortization of expense related to employee benefit plans                                        | **26,151**      | 160,992     
|Amortization of negative goodwill                                                                | **(94,058)**    | (94,058)    
|Gain on sale of real estate acquired through foreclosure, net                                    | **(42,768)**    | (58,539)    
|Deferred income taxes                                                                            | **2,848**       | 6,558       
|Increase (decrease) in cash due to changes in                                                    |                 |             
|Accrued interest receivable                                                                      | **15,367**      | (72,508)    
|Other assets                                                                                     | **(9,254)**     | 29,097      
|Accrued expenses and other liabilities                                                           | **(34,801)**    | 118,821     
|Income taxes payable                                                                             | **(26,023)**    | 4,456       
|                                                                                                 |                 |             
|Net cash provided by operating activities                                                        | **1,476,207**   | 1,505,957   
|                                                                                                 |                 |             
|Cash flows from investing activities                                                             |                 |             
|                                                                                                 |                 |             
|Proceeds from maturities and repayment of securities                                             |                 |             
|Available for sale                                                                               | **1,000,000**   | -           
|Held to maturity                                                                                 | **9,740,084**   | 2,628,359   
|Purchase of securities                                                                           |                 |             
|Held to maturity                                                                                 | **(5,997,188)** | -           
|Loan purchases                                                                                   | **(614,731)**   | (1,242,000) 
|Net increase in loans                                                                            | **(7,245,857)** | (11,418,937)
|Purchase of Federal Home Loan Bank stock                                                         | **(310,000)**   | (513,400)   
|Capital expenditures                                                                             | **(211,950)**   | (284,550)   
|Proceeds from sale of real estate acquired through foreclosure                                   | **359,811**     | 341,805     
|                                                                                                 |                 |             
|Net cash used in investing activities                                                            | **(3,279,831)** | (10,488,723)







|                                                                                                              | **2001**           | 2000          
|------------------------------------------------------------------------------------------------------------- | ------------------ | --------------
|                                                                                                              |                    |               
|Cash flows from financing activities                                                                          |                    |               
|Net increase (decrease) in deposits                                                                           | **$   9,441,628**  | $  (1,325,327)
|Net increase in advances from borrowers
      for taxes and insurance                                         | **3,715**          | 61,750        
|Advances from Federal Home Loan Bank                                                                          | **28,900,000**     | 49,300,000    
|Repayment of Federal Home Loan Bank advances                                                                  | **(35,000,000)**   | (37,700,000)  
|Cash dividends paid                                                                                           | **(436,111)**      | (389,668)     
|Purchase of treasury stock                                                                                    | **(809,051)**      | (531,870)     
|Stock options exercised                                                                                       | **75,628**         | 48,928        
|                                                                                                              |                    |               
|Net cash provided by financing activities                                                                     | **2,175,809**      | 9,463,813     
|                                                                                                              |                    |               
|Net increase in cash and cash equivalents                                                                     | **372,185**        | 481,047       
|Cash and cash equivalents at beginning of year                                                                | **1,921,042**      | 1,439,995     
|                                                                                                              |                    |               
|Cash and cash equivalents at end of year                                                                      | **$   2,293,227**  | $   1,921,042 
|                                                                                                              |                    |               
|**Supplemental disclosures of cash flow information**                                                         |                    |               
|Cash paid during the year for                                                                                 |                    |               
|Income taxes                                                                                                  | **$      857,218** | $      789,239
|Interest                                                                                                      | **7,022,819**      | 6,436,004     
|                                                                                                              |                    |               
|Noncash investing and financing activities                                                                    |                    |               
|Transfer from loans to real estate acquired through foreclosure                                               | **546,537**        | 873,038       
|Issuance of loans receivable in connection with the sale of real
         estate acquired through foreclosure | **230,350**        | 227,000       
|Common stock received in payment of stock options exercised                                                   | **55,262**         | -             

The accompanying notes are an integral part of these statements.







**NOTE A - SUMMARY OF ACCOUNTING POLICIES**

First Independence Corporation (the "Corporation") is a savings and loan holding company whose
activities are primarily limited to holding the stock of First Federal Savings and Loan Association of Independence
(the "Association").  Future references to the Corporation or the Association are utilized herein as the context
requires.  The Association conducts a general banking business in southeastern Kansas which consists of attracting
deposits from the general public and applying those funds to the origination of loans for residential, consumer and
nonresidential purposes and the purchase of investment and mortgage-backed securities.  The Association's
profitability is significantly dependent on net interest income, which is the difference between interest income
generated from interest-earning assets (i.e., loans and investments) and the interest expense paid on interest-bearing
liabilities (i.e., customer deposits and borrowed funds).  Net interest income is affected by the relative amount of
interest-earning assets and interest-bearing liabilities and the interest received or paid on these balances.  The level
of interest rates paid or received by the Association can be significantly influenced by a number of environmental
factors, such as governmental monetary policy, that are outside of management's control.

The consolidated financial information presented herein has been prepared in accordance with accounting
principles generally accepted in the United States of America ("US GAAP") and general accounting practices
within the financial services industry.  In preparing consolidated financial statements in accordance with US GAAP,
management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities
and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and
expenses during the reporting period.  Actual results could differ from such estimates.  Material estimates that are
particularly susceptible to significant change in the near term relate to the determination of the allowance for loan
losses and the valuation of real estate acquired through foreclosure.

The following is a summary of the Corporation's significant accounting policies which have been
consistently applied in the preparation of the accompanying consolidated financial statements.

1.       *Principles of consolidation*

The consolidated financial statements include the accounts of First Independence Corporation and its
wholly-owned subsidiary, First Federal Savings and Loan Association of Independence.  All significant
intercompany balances and transactions have been eliminated.

2.       *Cash equivalents*

For purposes of reporting cash flows, cash and cash equivalents include cash, due from banks, federal
funds sold and other overnight deposits.

3.       *Investment securities and mortgage-backed securities*

Investment securities and mortgage-backed securities are classified in three categories and accounted for as
follows: (a) debt securities that the Corporation has the positive intent and ability to hold to maturity are classified
as held-to-maturity securities and reported at amortized cost, (b) debt and equity securities that are bought and held
principally for the purpose of selling them in the near term are classified as trading securities and reported at fair
value, with unrealized gains and losses included in earnings and (c) debt and equity securities not classified as either
held-to-maturity securities or trading securities are classified as available-for-sale securities and reported at fair
value, with unrealized gains and losses excluded from earnings and reported as the sole component of accumulated
other comprehensive income in stockholders' equity.

Premiums and discounts on investment securities are amortized to operations over the term of the security
using the level yield method.  Premiums and discounts on mortgage-backed securities are amortized and accreted to
operations using the level yield method over the estimated life of the underlying loans collateralizing the securities.
Gains and losses on the sale of securities designated as available for sale are recorded using the specific
identification method.







**NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued**

4.       *Loans receivable*

Loans receivable that management has the intent and ability to hold until maturity or pay-off are reported at
their outstanding principal balance, adjusted for charge-offs, the allowance for loan losses, unearned discounts and
net deferred loan origination fees.

The allowance for loan losses is established as losses are estimated to have occurred through a provision
for loan losses charged to earnings.  Loan losses are charged against the allowance when management believes the
uncollectibility of a loan balance is confirmed.  Subsequent recoveries, if any, are credited to the allowance.

The allowance for loan losses is evaluated on a regular basis by management and is based upon
management's periodic review of the collectibility of the loans based on historical experience, the nature and
volume of the loan portfolio, adverse situations that may affect the borrower's ability to repay, estimated value of
any underlying collateral and prevailing economic conditions.  This evaluation is inherently subjective as it requires
estimates that are susceptible to significant revision as more information becomes available.

A loan is considered impaired when, based on current information and events, it is probable that the
Company will be unable to collect the scheduled payments of principal or interest when due according to the
contractual terms of the loan agreement.  Factors considered by management in determining impairment include
payment status, collateral value, and the probability of collecting scheduled principal and interest payments when
due.  Loans that experience insignificant payment delays and payment shortfalls generally are not classified as
impaired.  Management determines the significance of payment delays and payment shortfalls on a case-by-case
basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length
of the delay, the reasons for the delay, the borrower's prior payment record, and the amount of the shortfall in
relation to the principal and interest owed.  Impairment is measured on a loan-by-loan basis for commercial and
construction loans by either the present value of expected future cash flows discounted at the loan's effective
interest rate, the loan's obtainable market price, or the fair value of the collateral if the loan is collateral dependent.

Large groups of smaller balance homogeneous loans are collectively evaluated for impairment.
Accordingly, the Company does not separately identify individual 1-4 family residential real estate, home equity or
consumer loans for impairment disclosures.

Uncollectible interest on loans that are contractually past due is charged off or an allowance is established
based on management's periodic evaluation.  The allowance is established by a charge to interest income equal to all
interest previously accrued.  Income is subsequently recognized only to the extent cash payments are received until,
in management's judgment, the borrower's ability to make periodic interest and principal payments is back to
normal, in which case the loan is returned to accrual status.  If the collection of principal in whole or in part is in
doubt, all payments received on nonaccrual loans are credited to principal until such doubt is eliminated.

5.       *Loan origination fees and related costs*

Loan origination fees received, net of certain direct origination costs are deferred on a loan-by-loan basis
and amortized to interest income over the contractual life of the loan using the interest method, giving effect to
actual loan prepayments.  Loan origination costs are considered to be direct costs attributable to originating a loan.







**NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued**

6.       *Real estate acquired through foreclosure*

Real estate properties acquired through, or in lieu of, loan foreclosure are held for sale and are initially
recorded at fair value at the date of foreclosure establishing a new cost basis.  Subsequent to foreclosure, valuations
are periodically performed by management and the real estate is carried at the lower of carrying amount or fair value
less cost to sell.  Revenue and expenses from operations and changes in the valuation allowance are included in net
expenses from foreclosed assets.

7.       *Premises and equipment*

Premises and equipment are carried at cost less accumulated depreciation.  Depreciation is included in
occupancy and equipment expense and is provided by the straight-line method over the following estimated useful
lives:

| |                                   | Years
| | --------------------------------- | -----
| |                                   |      
| | Building                          | 8-50 
| | Furniture, fixtures and equipment | 5-20 
| | Automobiles                       | 5    

The costs of maintenance and repairs are charged to operations as incurred.  The costs of significant
additions, renewals and betterments to depreciable properties are capitalized and depreciated over the remaining or
extended estimated useful lives of the properties.  Gains and losses on disposition of property and equipment are
included in operations.

8.       *Employee stock ownership plan*

The Corporation sponsors a leveraged employee stock ownership plan (ESOP).  The ESOP holds company
stock which serves as collateral for the ESOP debt.  As shares are released from collateral, the Corporation reports
compensation expense equal to the current market price of the shares, and the shares become outstanding for
earnings-per-share ("EPS") computations.  Dividends on released and allocated ESOP shares are recorded as a
reduction of retained earnings; dividends on unallocated ESOP shares are recorded as compensation cost.

9.       *Stock-based compensation*

The Company uses the intrinsic value based method of accounting for stock options.  Under the intrinsic
method, compensation cost for stock options is measured as the excess, if any, of the quoted market price of the
Company's stock over the exercise price at the measurement date.

10.	       *Income taxes*

First Independence Corporation and its subsidiary file a consolidated federal income tax return.  Deferred
tax assets and liabilities are determined based on the differences between the financial accounting and tax basis of
assets and liabilities.  Deferred tax assets or liabilities at the end of each period are determined using the currently
enacted tax rate expected to apply to taxable income in the periods in which the deferred tax asset or liability is
expected to be settled or realized.







**NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued**

11.       *Earnings per share*

Basic earnings per share is computed by dividing net earnings by the weighted average number of common
shares outstanding during the year.  Diluted earnings per share is computed by dividing net earnings by the weighted
average number of common shares outstanding during the year plus the common share equivalents related to
outstanding stock options.  Weighted average common shares outstanding and diluted shares deemed outstanding
are as follows:

|                                                                   | Year endedSeptember 30,
|------------------------------------------------------------------ | -----------------------
|                                                                   | 2001                   
|                                                                   |                        
|Weighted average common shares outstanding                         | 991,799                
|Common share equivalents related to outstanding stock options      | 39,699                 
|                                                                   |                        
|Adjusted weighted average common shares   deemed to be outstanding | 1,031,498              

Common shares outstanding exclude unallocated and committed shares held by the ESOP trust.

12.       	*Recent accounting pronouncements*

On July 20, 2001, the Financial Accounting Standards Board (FASB) issued Statement of Financial
Accounting Standards (SFAS) 141, *Business Combinations*, and SFAS 142, *Goodwill and Intangible Assets*.  SFAS
141 is effective for all business combinations completed after June 30, 2001.  SFAS 142 is effective for fiscal years
beginning after December 15, 2001; however, certain provisions of this Statement apply to goodwill and other
intangible assets acquired between July 1, 2001 and the effective date of SFAS 142.  Earlier adoption of the SFAS
is permitted, and the Company has elected to adopt the provisions of SFAS 142 as of October 1, 2001.  Major
provisions of these Statements and their effective dates for the Company are as follows:

- All business combinations initiated after June 30, 2001 must use the purchase method of accounting.  The
pooling of interest method of accounting is prohibited except for transactions initiated before July 1, 2001.
- Intangible assets acquired in a business combination must be recorded separately from goodwill if they arise
from contractual or other legal rights or are separable from the acquired entity and can be sold, transferred,
licensed, rented or exchanged, either individually or as a part of a related contract, asset or liability.
- Goodwill, as well as intangible assets with indefinite lives, acquired after June 30, 2001 will not be amortized.
Effective October 1, 2001 all previously recognized goodwill and intangible assets with indefinite lives will no
longer be subject to amortization.
- Effective October 1, 2001, goodwill and intangible assets with indefinite lives will be tested for impairment
annually and whenever there is an impairment indicator.
- All acquired goodwill must be assigned to reporting units for purposes of impairment testing and segment
reporting.
- Effective October 1, 2001, the amount of any unamortized deferred credit related to an excess of fair value of
acquired net assets over cost (negative goodwill) arising from a business combination for which the acquisition
date was before July 1, 2001 will be written off and recognized as the effect of a change in accounting
principle.







**NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued**

The Company recognized negative goodwill with its acquisition of The Neodesha Savings and Loan
Association, FSA during 1999.  Negative goodwill of $94,058 was annually amortized to income through
September 30, 2001.  During the first quarter of fiscal 2002 the remaining balance of $681,922 will be recorded in
earnings and recognized as the effect of a change in accounting principle.

**NOTE B - INVESTMENT SECURITIES**

The amortized cost, gross unrealized gains, gross unrealized losses and estimated fair value of investment
securities are as follows:

|                                       | September 30, 2001
|-------------------------------------- | ------------------
|Held to maturity                       | Amortizedcost     
|                                       |                   
|U.S. Government and agency obligations | $3,997,262        
|Municipal securities                   | 197,251           
|                                       | $4,194,513        
|                                      
|Available for sale                     |                   
|                                       |                   
|U.S. Government agency obligations     | $1,000,462        
|                                       |                   
|                                       |                   
|                                       | September 30, 2000
|Held to maturity                       | Amortizedcost     
|                                       |                   
|U.S. Government and agency obligations | $6,300,076        
|Municipal securities                   | 196,071           
|                                       | $6,496,147        
|                                       |                   
|Available for sale                     |                   
|                                       |                   
|U.S. Government agency obligations     | $1,999,767        







**NOTE B - INVESTMENT SECURITIES - Continued**

The amortized cost and estimated fair value of investment securities at September 30, 2001, by term to
maturity are as follows:

|Held to maturity          | Amortizedcost | Estimatedfairvalue
|------------------------- | ------------- | ------------------
|                          |               |                   
|Due in one to two years   | $1,000,000    | $1,036,200        
|Due in five to ten years  | 3,194,513     | 3,202,580         
|                          | $4,194,513    | $4,238,780        
|                          |               |                   
|Available for sale        |               |                   
|                          |               |                   
|Due in less than one year | $1,000,462    | $1,013,700        

Investment securities with an estimated fair value of $5,052,550 and $4,257,857 at September 30, 2001 and
2000, respectively, are pledged to secure government deposits.

**NOTE C - MORTGAGE-BACKED SECURITIES**

The amortized cost, gross unrealized gains, gross unrealized losses and estimated fair value of mortgage-backed securities are summarized as follows:

|                                    | September 30, 2001
|----------------------------------- | ------------------
|Held to maturity                    | Amortizedcost     
|                                    |                   
|GNMA certificates                   | $       27,839    
|FHLMC certificates                  | 2,305,770         
|FNMA certificates                   | 1,895,740         
|Collateralized mortgage obligations |                   
|FHLMC                               | 1,050,742         
|FNMA                                | 2,000,731         
|                                    | $7,280,822        
|                                    |                   
|                                    |                   
|                                    | September 30, 2000
|Held to maturity                    | Amortizedcost     
|                                    |                   
|GNMA certificates                   | $       28,460    
|FHLMC certificates                  | 3,137,732         
|FNMA certificates                   | 2,328,466         
|Collateralized mortgage obligations |                   
|FHLMC                               | 1,076,514         
|FNMA                                | 2,175,816         
|                                    |                   
|                                    | $8,746,988        







**NOTE C - MORTGAGE-BACKED SECURITIES - Continued**

Mortgage-backed securities generally mature ratably over the 30-year term of the underlying loans
collateralizing the securities.  Expected maturities on mortgage-backed securities will differ from contractual
maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment
penalties.

Mortgage-backed securities with an estimated fair value of $7,280,004 and $8,271,606 at September 30,
2001 and 2000, respectively, are pledged to secure government and other deposits.

**NOTE D - LOANS RECEIVABLE**

Loans receivable at September 30 are summarized as follows:

|                                 | 2001          | 2000         
|-------------------------------- | ------------- | -------------
|                                 |               |              
|First mortgage loans             |               |              
|One-to-four family residences    | $  93,534,426 | $  90,927,666
|Multi-family residences          | 864,571       | 339,161      
|Nonresidential                   | 12,238,965    | 11,080,483   
|Construction                     | 32,731,094    | 28,151,825   
|Total first mortgage loans       | 139,369,056   | 130,499,135  
|                                 |               |              
|Consumer and other loans         |               |              
|Savings                          | 486,793       | 980,159      
|Automobile                       | 2,540,700     | 2,577,640    
|Home equity and second mortgages | 1,300,883     | 927,317      
|Unsecured home improvement       | 86,425        | 122,722      
|Other                            | 748,886       | 806,080      
|Total consumer and other loans   | 5,163,687     | 5,413,918    
|                                 |               |              
|Less                             |               |              
|Allowance for loan losses        | (722,682)     | (758,333)    
|Loans in process                 | (10,613,506)  | (9,664,974)  
|Unearned discounts               | (6,453)       | (1,793)      
|Deferred loan origination fees   | (351,871)     | (369,237)    
|                                 | (11,694,512)  | (10,794,337) 
|                                 |               |              
|Net loans receivable             | $132,838,231  | $125,118,716 







**NOTE D - LOANS RECEIVABLE - Continued**

Activity in the allowance for loan losses is summarized as follows for the years ended September 30:

|                             | 2001      | 2000     
|---------------------------- | --------- | ---------
|                             |           |          
|Balance at beginning of year | $ 758,333 | $ 752,650
|Provision                    | 177,000   | 99,000   
|Loans charged off            | (212,651) | (93,317) 
|                             |           |          
|Balance at end of year       | $ 722,682 | $ 758,333

The Association's lending efforts have historically focused on one-to-four family residential real estate
loans, which comprise approximately 65% (2001) and 67% (2000) of the total loan portfolio.  Approximately 2%
(2001 and 2000) of the Association's one-to-four family residential real estate loans are collateralized by properties
located outside of the primary lending area of Montgomery and surrounding Kansas counties.  Generally, such loans
have been underwritten on the basis of 80% to 90% loan-to-value ratio or mortgage insurance was required.  The
Association, as with any lending institution, is subject to the risk that real estate values could deteriorate in its
primary lending area thereby impairing collateral values.  Management believes, however, that real estate values in
the Association's primary lending area are currently stable.

During the year ended September 30, 1998 the Association began originating construction loans at its new
loan production office in Lawrence, Kansas.  These construction loans generally are to builders and individuals for
the construction of residences and have terms of nine months or less with permanent financing provided by other
lenders.  Construction loans comprise approximately 23% (2001) and 21% (2000) of the Association's total loan
portfolio.

Approximately 9% (2001) and 8% (2000) of the loan portfolio is comprised of nonresidential and multi-family real estate loans with approximately 2% (2001) and 5% (2000) of this total collateralized by properties
located outside the Association's primary lending area.

Serviced loans were $559,530 and $1,272,803 at September 30, 2001 and 2000, respectively.

In the normal course of business, the Association makes loans to directors, executive officers and related
entities.  An analysis of aggregate loan activity with this group is as follows:

|Loans outstanding at October 1, 2000    | $524,398 
|--------------------------------------- | ---------
|New loans                               | 426,215  
|Repayments                              | (269,727)
|                                        |          
|Loans outstanding at September 30, 2001 | $680,886 

Loan impairment is measured by estimating the expected future cash flows and discounting them at the
respective effective interest rate or by valuing the underlying collateral.  The recorded investment in these loans and
the valuation allowance for losses related to loan impairment at September 30 are as follows:

|                                     | 2001     | 2000    
|------------------------------------ | -------- | --------
|                                     |          |         
|Principal amount of impaired loans   | $670,095 | $187,059
|Less valuation allowance             | (33,505) | (3,741) 
|                                     |          |         
|                                     | $636,590 | $183,318
|                                     |          |         
|Average investment in impaired loans | $428,577 | $258,594







**NOTE D - LOANS RECEIVABLE - Continued**

The Association has provided an allowance for loan losses on all impaired loans.  Interest income of
$7,617 and $7,577 was recognized and collected on impaired loans during the years ended September 30, 2001 and
2000, respectively.  The Association is not committed to make additional loans to borrowers whose loans have been
modified.

**NOTE E - ACCRUED INTEREST RECEIVABLE**

Accrued interest receivable at September 30 is summarized as follows:

|                           | 2001     | 2000    
|-------------------------- | -------- | --------
|                           |          |         
|Loans receivable           | $860,870 | $785,212
|Investment securities      | 38,678   | 111,259 
|Mortgage-backed securities | 45,058   | 63,502  
|                           | $944,606 | $959,973

**NOTE F - PREMISES AND EQUIPMENT**

Premises and equipment at September 30 are summarized as follows:

|                                  | 2001         | 2000        
|--------------------------------- | ------------ | ------------
|                                  |              |             
|Land                              | $     74,958 | $     74,958
|Building                          | 1,451,459    | 1,430,708   
|Furniture, fixtures and equipment | 669,426      | 635,649     
|Automobiles                       | 29,499       | 50,168      
|                                  | 2,225,342    | 2,191,483   
|Less accumulated depreciation     | 753,313      | 742,080     
|                                  | $1,472,029   | $1,449,403  

**NOTE G - FORECLOSED ASSETS**

A summary of income (expenses) applicable to foreclosed assets is as follows for the years ended
September 30:

|                                                              | 2001      | 2000     
|------------------------------------------------------------- | --------- | ---------
|                                                              |           |          
|Gain on sale of real estate acquired through foreclosure, net | $ 42,768  | $ 58,539 
|Operating expenses                                            | (37,667)  | (81,215) 
|Foreclosed asset income (expense), net                        | $   5,101 | $(22,676)

Operating expenses on foreclosed assets consist primarily of property taxes and general maintenance
expenses on the properties held.







**NOTE H - DEPOSITS**

Deposits at September 30 are summarized as follows:

|                              | Weightedaverage rate atSeptember 30, | 2001  | 2000         
|----------------------------- | ------------------------------------ | ----- | -------------
|                             
|                             
|                              | 2001                                 | 2000  | Amount       
|                              |                                      |       |              
|NOW accounts                  | 1.28%                                | 2.05% | $   5,376,751
|First Super NOW accounts      | 1.52                                 | 2.30  | 3,167,848    
|First Money Fund accounts     | 3.61                                 | 4.91  | 26,463,910   
|Total demand deposits         | 3.16                                 | 4.38  | 35,008,509   
|                              |                                      |       |              
|Passbook savings accounts     | 2.71                                 | 2.89  | 5,109,467    
|                              |                                      |       |              
|Certificates of deposit       |                                      |       |              
|3.00% to 3.99%                | 3.63                                 | -     | 1,262,154    
|4.00% to 4.99%                | 4.70                                 | 4.93  | 12,536,691   
|5.00% to 5.99%                | 5.59                                 | 5.55  | 31,981,793   
|6.00% to 6.99%                | 6.33                                 | 6.34  | 17,670,551   
|Total certificates of deposit | 5.58                                 | 5.67  | 63,451,189   
|                              |                                      |       |              
|Total savings                 | 5.37                                 | 5.47  | 68,560,656   
|                              |                                      |       |              
|Total deposits                | 4.62                                 | 5.10  | $103,569,165 

The aggregate amount of certificates of deposit and savings with a minimum denomination of $100,000 was
$7,617,501 and $6,211,979 at September 30, 2001 and 2000, respectively.







**NOTE H - DEPOSITS - Continued**

Scheduled maturities of certificates of deposit are as follows:

|September 30, 2001 |                   |                    |                    |              
|------------------ | ----------------- | ------------------ | ------------------ | -------------
|                   | Less thanone year | One tothree years  | Three tofive years | Total        
|                   |                   |                    |                    |              
|3.00% to 3.99%     | $   1,252,802     | $         9,352    | $               -  | $   1,262,154
|4.00% to 4.99%     | 5,736,916         | 6,730,823          | 68,952             | 12,536,691   
|5.00% to 5.99%     | 20,455,157        | 9,011,860          | 2,514,776          | 31,981,793   
|6.00% to 6.99%     | 14,496,872        | 658,207            | 2,515,472          | 17,670,551   
|                   | $41,941,747       | $16,410,242        | $5,099,200         | $63,451,189  
|                   |                   |                    |                    |              
|September 30, 2000 |                   |                    |                    |              
|                   | Less thanone year | One tothree years  | Three tofive years | Total        
|                   |                   |                    |                    |              
|4.00% to 4.99%     | $  2,518,517      | $                - | $                - | $  2,518,517 
|5.00% to 5.99%     | 28,627,293        | 13,028,707         | 2,940,340          | 44,596,340   
|6.00% to 6.99%     | 3,452,327         | 5,540,247          | 1,582,202          | 10,574,776   
|                   | $34,598,137       | $18,568,954        | $4,522,542         | $57,689,633  

Interest expense on deposits for the years ended September 30 is summarized as follows:

|                                                      | 2001         | 2000        
|----------------------------------------------------- | ------------ | ------------
|                                                      |              |             
|NOW accounts                                          | $     74,125 | $     80,631
|First Super NOW and First Money Fund accounts         | 1,152,193    | 1,252,637   
|Certificates of deposit and passbook savings accounts | 3,467,283    | 3,218,426   
|                                                      | $4,693,601   | $4,551,694  

**NOTE I - ADVANCES FROM FEDERAL HOME LOAN BANK**

Advances from the Federal Home Loan Bank at September 30 consist of the following:

|                        | 2001        | 2000               
|----------------------- | ----------- | -------------------
|                        | Rates       | Amount             
|                        |             |                    
|Variable rates          | -           | $                 -
|Fixed rates             | 5.65 - 6.74 | 6,000,000          
|Fixed rate convertible* | 4.60 - 6.34 | 27,000,000         
|                        |             | $33,000,000        

*The Federal Home Loan Bank has the option to convert $15,000,000 in the year ending 2002 and
$1,000,000 in the year ending 2003 and $11,000,000 in the year ending 2004 to its variable short-term rate.  These
advances are due in 2008 through 2011 unless converted, at which time the Corporation has the option to prepay the
advances.







**NOTE I - ADVANCES FROM FEDERAL HOME LOAN BANK - Continued**

The Association can borrow a maximum of approximately $61,000,000 from the Federal Home Loan Bank
at September 30, 2001.

Assets of the Association are subject to a blanket pledge agreement to collateralize the advances.

Aggregate maturities for the years following September 30, 2001 are as follows:

| | 2002 | $   5,000,000
| | ---- | -------------
| | 2003 | 1,000,000    
| | 2008 | 1,000,000    
| | 2009 | 6,000,000    
| | 2010 | 15,000,000   
| | 2011 | 5,000,000    
| |      | $33,000,000  

**NOTE J - EMPLOYEE BENEFITS**

The Corporation sponsors a leveraged employee stock ownership plan ("ESOP") that covers all full-time
employees.  All employees of the Corporation are eligible to participate in the ESOP after they attain age 21 and
complete one year of service during which they work at least 1,000 hours.  The Corporation makes annual
contributions to the ESOP equal to at least the ESOP's debt service.  All dividends received by the ESOP are
credited to the employee's stock ownership account.  The unallocated ESOP shares are pledged as collateral for its
debt.  As the debt is repaid, shares are released from collateral and allocated to active employees, based on the
proportion of debt service paid in the year.  Accordingly, unpaid ESOP debt is reflected as a deduction from
stockholders' equity.  ESOP compensation expense was $150,740 (including a $120,000 cash contribution) and
$169,346 for the years ended September 30, 2001 and 2000, respectively.

The ESOP shares as of September 30, 2001 were as follows:

| | Allocated shares                                      | 109,050 
| | ----------------------------------------------------- | --------
| | Unreleased shares                                     | 9,164   
| | Total ESOP shares                                     | 118,214 
| | Fair value of unreleased shares at September 30, 2001 | $115,466







**NOTE J - EMPLOYEE BENEFITS - Continued**

The Corporation has adopted a Stock Option and Incentive Plan (SOP) for designated participants. The
SOP provides for up to 145,474 shares of common stock to be issued to participants.  The option price of any
options granted may not be less than the market value of the common stock on the date of the grant and unless
otherwise specified, the options expire ten years from the date of the grant.  All options outstanding at September
30, 2001 are exercisable except 8,745 options which vest equally over five years from the date of the grant.  A
summary of the Corporation's stock option plan as of September 30, 2001 and 2000 and changes during the years
ended as of those dates is presented below:

|                                  | Shares   | Weightedaverageexerciseprice
|--------------------------------- | -------- | ----------------------------
|                                  |          |                             
|Outstanding at October 1, 1999    | 109,447  | $   5.68                    
|Exercised                         | (9,718)  | 5.03                        
|                                  |          |                             
|Outstanding at September 30, 2000 | 99,729   | 5.74                        
|Issued                            | 3,000    | 13.28                       
|Exercised                         | (24,963) | 5.24                        
|Forfeited                         | (900)    | 10.06                       
|                                  |          |                             
|Outstanding at September 30, 2001 | 76,866   | 5.97                        
|                                  |          |                             
|Exercisable                       |          |                             
|September 30, 2000                | 96,602   | $   5.60                    
|September 30, 2001                | 68,121   | 5.28                        

Options outstanding at September 30, 2001 are summarized as follows:

| | Shares |  | Exerciseprice |  | Remaininglife    
| | ------ |  | ------------- |  | -----------------
| |        |  |               |  |                  
| | 56,821 |  | $   5.00      |  | 2 years          
| | 7,136  |  | 6.19          |  | 2 years 4 months 
| | 1,000  |  | 14.63         |  | 6 years 1 month  
| | 8,909  |  | 10.06         |  | 7 years 4 months 
| | 3,000  |  | 13.28         |  | 9 years 10 months
| | 76,866 |  |               |  |                  

The stock option plan is accounted for under APB Opinion 25 and related interpretations.  The options are exercisable at not less than the market value of the Company's stock on the date of grant.  Accordingly, no
compensation cost has been recognized for the plan.  Had compensation cost for the plan been determined based on
the fair value of the options at the grant dates consistent with the fair value method of Statement of Financial
Accounting Standards 123, *Accounting for Stock-Based Compensation* (SFAS 123), the Company's net earnings
and earnings per share for the years ended September 30 would have been reduced to the pro forma amounts
indicated below.

| |                            | 2001       | 2000      
| | -------------------------- | ---------- | ----------
| |                            |            |           
| | Net earnings - as reported | $1,541,223 | $1,376,363
| | Net earnings - pro forma   | 1,530,504  | 1,367,974 
| | Earnings per share         |            |           
| | Basic - as reported        | $1.55      | $1.36     
| | Basic - pro forma          | 1.54       | 1.35      
| | Diluted - as reported      | 1.49       | 1.30      
| | Diluted - pro forma        | 1.48       | 1.29      







**NOTE J - EMPLOYEE BENEFITS - Continued**

The fair value of each option grant is estimated on the date of grant using the Black-Scholes options-pricing model with the following weighted-average assumptions used for the year ended September 30, 2001:

| | Dividend yield          | 3.39%   
| | ----------------------- | --------
| | Expected volatility     | 18%     
| | Risk-free interest rate | 5.0%    
| | Expected life           | 10 years

The Association participates in a defined benefit multi-employer pension plan.  Substantially all employees
are eligible and benefits are based on the employee's salary and years of service.  No contribution was made or
required to be made by the Association for the years ended September 30, 2001 and 2000 due to the plan's
overfunded status.  Separate actuarial disclosure information is not available due to the plan being a multi-employer
pension plan.

**NOTE K - INCOME TAXES**

Income tax expense for the years ended September 30 consists of the following:

|         | 2001     | 2000    
|-------- | -------- | --------
|         |          |         
|Current  | $810,801 | $780,081
|Deferred | 2,848    | 6,558   
|         | $813,649 | $786,639

Reconciliation of income tax expense computed at the federal statutory rate of 34% and income tax
expense for the years ended September 30 is as follows:

|                                                 | 2001     | 2000    
|------------------------------------------------ | -------- | --------
|                                                 |          |         
|Income tax expense at statutory rate             | $800,656 | $735,421
|Kansas privilege tax, net of federal tax benefit | 66,322   | 60,642  
|Nondeductible ESOP fair value adjustment         | 2,159    | 24,599  
|Other                                            | (55,488) | (34,023)
|                                                 | $813,649 | $786,639

The tax effects of temporary differences that give rise to deferred tax assets and liabilities at September 30
are as follows:

|                                       | 2001       | 2000     
|-------------------------------------- | ---------- | ---------
|Deferred tax assets                    |            |          
|Allowance for loan losses              | $281,194   | $275,274 
|Accrued bonuses                        | 15,540     | 15,540   
|Depreciation of property and equipment | 85,005     | 88,280   
|Securities available for sale          | -          | 2,800    
|Total deferred tax assets              | 381,739    | 381,894  
|                                       |            |          
|Deferred tax liabilities               |            |          
|Securities available for sale          | 4,931      | -        
|Federal Home Loan Bank stock dividends | 348,318    | 348,318  
|Other                                  | 34,479     | 44,349   
|Total deferred tax liabilities         | 387,728    | 392,667  
|Net deferred tax liability             | $    5,989 | $  10,773







**NOTE K - INCOME TAXES - Continued**

Prior to 1997 the Association was allowed a special bad debt deduction, generally limited to 8% of
otherwise taxable income subject to certain limitations based on aggregate loans and deposit account balances at the
end of the year.  If the amounts that qualified as deductions for federal income taxes are later used for purposes
other than for bad debt losses, including distributions in liquidation, such distributions will be subject to federal
income taxes at the then current corporate income tax rate.  Retained earnings at September 30, 2001, includes
approximately $2.9 million for which federal income taxes have not been provided.  The amount of unrecognized
deferred tax liability relating to the cumulative bad debt deduction at September 30, 2001, is approximately
$1,000,000.

**NOTE L - STOCKHOLDERS' EQUITY AND REGULATORY CAPITAL**

The Association is subject to various regulatory capital requirements administered by the Office of Thrift
Supervision (OTS).  Failure to meet minimum capital requirements can initiate certain mandatory and possibly
additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the
Association's financial statements.  Under capital adequacy guidelines and the regulatory framework for prompt
corrective action, the Association must meet specific capital guidelines that involve quantitative measures of the
Association's assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting
practices.  The Association's capital amounts and classification are also subject to qualitative judgments by the
regulators about components, risk weightings, and other factors.

Quantitative measures established by regulation to ensure capital adequacy require the Association to
maintain minimum amounts and ratios (set forth in the table below) of total and Tier 1 capital to risk-weighted
assets and of Tier 1 (core) capital and tangible capital to adjusted total assets.  Management believes, as of
September 30, 2001, that the Association meets all capital adequacy requirements to which it is subject.

As of September 30, 2001, the most recent notification from the OTS categorized the Association as well
capitalized under the regulatory framework for prompt corrective action.  There are no conditions or events since
that notification that management believes have changed the Association's category.  To be categorized as well
capitalized the Association must maintain minimum total risk-based, Tier 1 risk-based and Tier 1 (core) ratios as set
forth in the table below.

|                                         | Actual                 | Minimumcapital requirement | Minimum to be wellcapitalized underprompt correctiveaction provisions
|---------------------------------------- | ---------------------- | -------------------------- | ---------------------------------------------------------------------
|                                         | Amount                 | Ratio                      | Amount                                                               
|                                         | (Dollars in thousands)
|                                         |                        |                            |                                                                      
|As of September 30, 2001                 |                        |                            |                                                                      
|Total capital to risk-weighted assets    | $14,850                | 19.36%                     | $6,136                                                               
|Tier 1 capital to risk-weighted assets   | 14,127                 | 18.42                      | N/A                                                                  
|Core capital to adjusted tangible assets | 14,127                 | 9.25                       | 6,111                                                                
|Tangible capital to tangible assets      | 14,127                 | 9.25                       | 2,291                                                                
|                                         |                        |                            |                                                                      
|As of September 30, 2000                 |                        |                            |                                                                      
|Total capital to risk weighted assets    | $13,280                | 18.17%                     | $5,846                                                               
|Tier 1 capital to risk weighted assets   | 12,522                 | 17.13                      | N/A                                                                  
|Core capital to adjusted tangible assets | 12,522                 | 8.39                       | 5,970                                                                
|Tangible capital to tangible assets      | 12,522                 | 8.39                       | 2,238                                                                







**NOTE L - STOCKHOLDERS' EQUITY AND REGULATORY CAPITAL - Continued**

Regulations of the OTS impose limitations on the payment of dividends and other capital distributions by
savings associations.  Under such regulations a savings association that immediately prior to and on a pro forma
basis, after giving effect to a proposed capital distribution, has total capital (as defined by OTS regulation) that is
equal to or greater than the amount of its fully phased-in capital requirement is generally permitted without OTS
approval (but subsequent to 30 days prior notice to the OTS of the planned dividend) to make capital distributions
during a calendar year in the amount of up to the greater of (1) 100% of its net earnings to date during the year plus
an amount equal to one-half of the amount by which its total capital to assets ratio exceeded its fully phased-in
capital to assets ratio at the beginning of the year or (2) 75% of its net income for the most recent four quarters.
Pursuant to such OTS dividend regulations, the Association had the ability to pay dividends of approximately
$5,400,000 to First Independence Corporation at September 30, 2001.

**NOTE M - COMMITMENTS**

The Association is a party to financial instruments with off-balance sheet risk in the normal course of
business to meet the financing needs of its customers including commitments to extend credit.  Such commitments
involve, to varying degrees, elements of credit and interest-rate risk in excess of the amount recognized in the
consolidated balance sheets.  The contract or notional amounts of the commitments reflect the extent of the
Association's involvement in such financial instruments.

The Association's exposure to credit loss in the event of nonperformance by the other party to the financial
instrument for commitments to extend credit is represented by the contractual notional amount of those instruments.
The Association uses the same credit policies in making commitments and conditional obligations as those utilized
for on-balance sheet instruments.  The Association's commitments to extend credit at September 30, 2001 include
loans in process as disclosed in Note D and first mortgage loans with fixed rates ranging from 7.25% to 9.50%
aggregating $2,186,100.  Commitments to extend credit are agreements to lend to a customer as long as there is no
violation of any condition established in the contract.  Commitments generally have fixed expiration dates or other
termination clauses and may require payment of a fee.  The commitments may expire without being drawn upon.
Therefore, the total commitment amounts do not necessarily represent future cash requirements.  Collateral for loans
in process and commitments are the same as for other Association loans.  The commitment period is generally for
forty-five days.

**NOTE N - FAIR VALUE OF FINANCIAL INSTRUMENTS**

The following methods and assumptions were used to estimate the fair value of each class of financial
instruments at September 30, 2001 and 2000.

Cash and cash equivalents:  The balance sheet carrying amounts for cash and short-term instruments
approximate the estimated fair values of such assets.

Investment securities and mortgage-backed securities:  Fair values for investment securities and mortgage-backed securities are based on quoted market prices, if available.  If quoted market prices are not available, fair
values are based on quoted market prices of comparable instruments.

Loans receivable:  For variable rate loans that reprice frequently and which entail no significant change in
credit risk, fair values are based on the carrying values.  The estimated fair values of fixed rate loans are estimated
based on discounted cash flow analyses using prepayment assumptions and interest rates currently offered for loans
with similar terms to borrowers of similar credit quality.  Nonperforming loans have not been discounted.  The
carrying amount of accrued interest receivable approximates its fair value.







**NOTE N - FAIR VALUE OF FINANCIAL INSTRUMENTS - Continued**

Commitments to extend credit:  No premium or discount was ascribed to loan commitments because when
funded virtually all funding will be at current market rates.

Federal Home Loan Bank stock:  The balance sheet carrying amount approximates the stock's fair value.

Deposit liabilities:  The fair values estimated for demand deposits, NOW accounts, savings and certain
types of money market accounts are, by definition, equal to the amount payable on demand at the reporting date
(i.e., their carrying amounts).  The carrying amounts of variable rate, fixed-term money market accounts and
certificates of deposit approximate their fair values at the reporting date.  Fair values of fixed rate certificates of
deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered to a
schedule of aggregated expected monthly time deposit maturities.  The carrying amount of accrued interest payable
approximates its fair value.

Advances from Federal Home Loan Bank:  For variable rate advances fair values are considered equal to
their carrying values.  The estimated fair value of fixed rate advances are estimated based on discounted cash flow
analysis using interest rates currently offered for advances with similar terms.

The following table provides summary information on the fair value of financial instruments.  Such
information does not purport to represent the aggregate net fair value of the Corporation.  Further, the fair value
estimates are based on various assumptions, methodologies and subjective considerations, which vary widely among
different financial institutions and which are subject to change.  The carrying amounts are the amounts at which the
financial instruments are reported in the consolidated financial statements.

|                                            | 2001                                    
|------------------------------------------- | ----------------------------------------
|                                            | Carryingamount ofassets and(liabilities)
|                                            |                                         
|Cash and cash equivalents                   | $   2,293,227                           
|Investment securities held to maturity      | 4,194,513                               
|Investment securities available for sale    | 1,013,700                               
|Mortgage-backed securities held to maturity | 7,280,822                               
|Loans                                       | 133,560,913                             
|Federal Home Loan Bank stock                | 2,265,000                               
|Deposits                                    | (103,569,165)                           
|Advances from Federal Home Loan Bank        | (33,000,000)                            
|                                            |                                         
|                                            | 2000                                    
|                                            | Carryingamount ofassets and(liabilities)
|                                            |                                         
|Cash and cash equivalents                   | $   1,921,042                           
|Investment securities held to maturity      | 6,496,147                               
|Investment securities available for sale    | 1,992,200                               
|Mortgage-backed securities held to maturity | 8,746,988                               
|Loans                                       | 125,877,049                             
|Federal Home Loan Bank stock                | 1,955,000                               
|Deposits                                    | (94,127,537)                            
|Advances from Federal Home Loan Bank        | (39,100,000)                            

**STOCKHOLDER INFORMATION**

---

|**Stock Listing Information**
First Federal Savings and Loan Association of Independence (the
"Association") converted from a mutual to a stock savings and loan
association effective October 5, 1993, and formed First
Independence Corporation (the "Company") to act as its holding
company.  The Company's common stock (the "Common Stock") is
traded on The Nasdaq SmallCap Market under the symbol "FFSL."


**Stock Price Information and Dividends**
As of December 3, 2001, there were approximately 202
shareholders of record of the Company's Common Stock, not
including those shares held in nominee or street name through
various brokerage firms or banks.


The following table sets forth the high and low bid prices of the
Common Stock and dividends declared for each fiscal quarter since
October 1, 1999. The stock price information was provided by the
NASD, Inc.


DividendsQuarter Ended                          High                 Low                 Declared

December 31, 1999                  10.563                 9.625                   0.0875

March 31, 2000                          9.875                 7.625                   0.1000

June 30, 2000                           10.000                 8.000                   0.1000

September 30, 2000                 10.250                 9.250                   0.1000

December 31, 2000                  10.500               10.000                   0.1000

March 31, 2001                        13.000               10.375                   0.1125

June 30, 2001                           13.250               12.750                   0.1125

September 30, 2001                 13.500               12.500                   0.1125


The Company has paid a cash dividend on its Common Stock for
each quarter since the Association's conversion to stock form.
Future dividends, if any, will be dependent upon the results of
operations and financial condition of the Company, tax
considerations, industry standards, economic conditions, general
business practices and other factors.  The Company's ability to pay
dividends is dependent on the dividend payments it receives from
the Association, which are subject to regulations and the
Association's continued compliance with all regulatory  capital
requirements.  See Note L of the Notes to Consolidated Financial
Statements for a discussion of regulations governing the
Association's ability to pay dividends. |  | **Annual Report on Form 10-KSB and Investor Information**A copy of the Company's annual report on Form 10-KSB, filed
with the Securities and Exchange Commission, is available
without charge by writing to:

Gary L. Overfield
   Senior Vice President and Secretary
   First Independence Corporation
   Myrtle and Sixth
   Independence, Kansas  67301

**Stock Transfer Agent**Inquiries regarding stock transfer, registration, lost certificates or
changes in name and address should be directed to the stock
transfer agent and registrar by writing to:


Registrar and Transfer Company
   10 Commerce Drive
   Cranford, New Jersey  07016
   (800) 368-5948


**Investor Information**Stockholders, investors, and analysts interested in additional
information may contact:


James B. Mitchell,
   Vice President and Chief Financial Officer
   E-Mail:  jimm@firstfederalsl.com


**Corporate Office**First Independence Corporation
Myrtle and Sixth
Independence, Kansas  67301
(620) 331-1660


**Special Counsel**Silver, Freedman & Taff, L.L.P.
7th Floor - East Tower
1100 New York Avenue, NW
Washington, DC  20005


**Independent Auditor**Grant Thornton, LLP
8300 Thorn Drive, Suite 300
Wichita, Kansas  67226


**First Federal Savings and Loan Association of Independence**Myrtle and Sixth
Independence, Kansas  67301
(620) 331-1660
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

**DIRECTORS AND MANAGEMENT GROUP**

---

|**BOARD OF DIRECTORS
(First Independence Corporation and
First Federal Savings and Loan Association of Independence)**


Lavern W. Strecker*Chairman of the Board*
   First Independence Corporation and
   First Federal Savings and Loan Association of    Independence*Retired - Former Manager of Accounting and Control*
   ARCO Pipe Line Company


William T. Newkirk II*Vice Chairman of the Board*
   First Independence Corporation and
   First Federal Savings and Loan Association of    Independence*Vice President*
   Newkirk, Dennis & Buckles Insurance Co.


Larry G. Spencer*President and Chief Executive Officer*
   First Independence Corporation and
   First Federal Savings and Loan Association of    Independence


Robert A. Johnson*Human Resource Manger*
   Cobalt Boats


Harold L. Swearingen*Retired - Former Telecommunications Manager*
   ARCO Pipe Line Company


Joseph M. Smith*Retired - Former County Extension Agent**Agriculture and Coordinator*
   Montgomery County Extension Council


E. JoVonnah Boecker*City Clerk*
   Neodesha, Kansas |  | **EXECUTIVE OFFICERS**

Lavern W. Strecker*Chairman of the Board*
   First Independence Corporation and
   First Federal Savings and Loan Association of    Independence*Retired - Former Manager of Accounting and Control*
   ARCO Pipe Line Company


William T. Newkirk II*Vice Chairman of the Board*
   First Independence Corporation and
   First Federal Savings and Loan Association of    Independence*Vice President*
   Newkirk, Dennis & Buckles Insurance Co.


Larry G. Spencer*President and Chief Executive Officer*
   First Independence Corporation and
   First Federal Savings and Loan Association of    Independence


Gary L. Overfield*Senior Vice President and Secretary*
   First Independence Corporation and
   First Federal Savings and Loan Association of    Independence


James B. Mitchell*Vice President and Chief Financial Officer*
   First Independence Corporation and
   First Federal Savings and Loan Association of    Independence


Jim L. Clubine*Vice President and Asset Manager*
   First Federal Savings and Loan Association of    Independence

**OTHER OFFICERS**

Lori L. Kelley*Vice President of Operations and Technology*
   First Federal Savings and Loan Association of     Independence


C. Alan Hoggatt*Vice President*
   First Federal Savings and Loan Association of    Independence


Dennis L. Greenhaw*Vice President*
   First Federal Savings and Loan Association of     Independence


Phyllis A. Johnson*Assistant Vice President*
   First Federal Savings and Loan Association of     Independence
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



First Independence CorporationMyrle & Sixth Streets
Independence, KS 67301