|                                                                  Yes  þ | No   ̈ |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------|

|                                                                  Yes   ̈ | No   ̈ |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------|

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

|                                                                  Yes   ̈ | No  þ |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------|

|                    Class |                        Outstanding at November 4, 2010                                                                                                         |
|-------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Common Stock, $.01 par value                                                                                            |                                             1,351,448 |

----

|                                                                                                                                                          |                                                                                                                | Page   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------|--------|
| Part I.  Financial Information                                                                                                                      |                                                                                                                |   |
|                                                                                                                                                          | Item 1.  Financial Statements (Unaudited)                                                                 | 1      |
|                                                                                                                                                          |                                                                                                                |   |
|                                                                                                                                                          | Consolidated Condensed Statements ofFinancial Condition at September 30, 2010and December 31, 2009                  | 1      |
|                                                                                                                                                          |                                                                                                                |   |
|                                                                                                                                                          | Consolidated Condensed Statements ofIncome for the Three Months and Nine MonthsEnded September 30, 2010 and 2009    | 2      |
|                                                                                                                                                          |                                                                                                                |   |
|                                                                                                                                                          | Consolidated Condensed Statements ofStockholders’ Equity for the Nine MonthsEnded September 30, 2010 and 2009 | 3      |
|                                                                                                                                                          |                                                                                                                |   |
|                                                                                                                                                          | Consolidated Condensed Statements ofCash Flows for the Nine Months EndedSeptember 30, 2010 and 2009                 | 4      |
|                                                                                                                                                          |                                                                                                                |   |
|                                                                                                                                                          | Notes to Consolidated Condensed FinancialStatements                                                                 | 5      |
|                                                                                                                                                          |                                                                                                                |   |
|                                                                                                                                                          | Item 2.  Management’s Discussion and Analysisof Financial Condition and Results of Operations       | 13     |
|                                                                                                                                                          |                                                                                                                |   |
|                                                                                                                                                          | Item 3.  Quantitative and Qualitative DisclosureAbout Market Risk                                         | 20     |
|                                                                                                                                                          |                                                                                                                |   |
|                                                                                                                                                          | Item 4T.  Controls and Procedures                                                                         | 20     |
| Part II.                      Other Information |                                                                                                                |   |
|                                                                                                                                                          | Item 1.    Legal Proceedings                                                                    | 21     |
|                                                                                                                                                          |                                                                                                                |   |
|                                                                                                                                                          | Item 1A. Risk Factors                                                                                               | 21     |
|                                                                                                                                                          |                                                                                                                |   |
|                                                                                                                                                          | Item 6.    Exhibits                                                                             | 22     |
|                                                                                                                                                          |                                                                                                                |   |
|                                                                                                                                                          | Signatures                                                                                                          | 23     |

----

| NORTH CENTRAL BANCSHARES, INC. AND SUBSIDIARIES                                 |   |          |        |   |
|---------------------------------------------------------------------------------|--------|---------------|-------------|--------|
| CONSOLIDATED CONDENSED STATEMENTS OF FINANCIAL CONDITION (Unaudited)            |   |          |        |   |
|                                                                            |   |          |        |   |   |   |
|                                                                            |   | September 30, |        |   | December 31, |   |
|                                                                            |   | 2010          |        |   | 2009 |   |
| ASSETS                                                                          |   |          |        |   |   |   |
|                                                                            |   |          |        |   |   |   |
| Cash and due from banks:                                                        |   |          |        |   |   |   |
|     Interest-bearing                                        |   | $             | 18,345,182  |   |   | $ | 12,804,849 |   |
|     Noninterest-bearing                                     |   |          | 7,952,614   |   |   |   | 8,961,321 |   |
|         Total cash and due from banks   |   |          | 26,297,796  |   |   |   | 21,766,170 |   |
| Investments in certificates of deposit                                          |   |          | 14,280,000  |   |   |   | - |   |
| Securities available-for-sale                                                   |   |          | 42,399,500  |   |   |   | 23,175,201 |   |
| Federal Home Loan Bank stock, at cost                                           |   |          | 3,380,300   |   |   |   | 3,924,700 |   |
| Loans receivable, (net of allowance for loan loss of                            |   |          |        |   |   |   |   |   |
|      $7,671,546 and $7,170,595 respectively)           |   |          | 336,987,565 |   |   |   | 374,854,993 |   |
| Loans held for sale                                                             |   |          | 769,188     |   |   |   | 1,333,933 |   |
| Accrued interest receivable                                                     |   |          | 1,753,282   |   |   |   | 1,867,970 |   |
| Foreclosed real estate                                                          |   |          | 3,688,684   |   |   |   | 1,709,128 |   |
| Premises and equipment, net                                                     |   |          | 11,587,509  |   |   |   | 11,882,839 |   |
| Rental real estate                                                              |   |          | 2,165,775   |   |   |   | 2,243,704 |   |
| Title plant                                                                     |   |          | 671,704     |   |   |   | 671,704 |   |
| Deferred taxes                                                                  |   |          | 2,360,725   |   |   |   | 2,230,971 |   |
| Bank-owned life insurance                                                       |   |          | 5,727,245   |   |   |   | 5,543,681 |   |
| Prepaid FDIC assessment                                                         |   |          | 1,486,194   |   |   |   | 1,877,699 |   |
| Prepaid expenses and other assets                                               |   |          | 2,119,136   |   |   |   | 1,928,266 |   |
|                                                                            |   |          |        |   |   |   |   |   |
|     Total assets                                            |   | $             | 455,674,603 |   |   | $ | 455,010,959 |   |
|                                                                            |   |          |        |   |   |   |   |   |
|                                                                            |   |          |        |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                            |   |          |        |   |   |   |   |   |
|                                                                            |   |          |        |   |   |   |   |   |
| LIABILITIES                                                                     |   |          |        |   |   |   |   |   |
| Deposits                                                                        |   | $             | 349,147,741 |   |   | $ | 334,813,060 |   |
| Borrowed funds                                                                  |   |          | 53,750,000  |   |   |   | 66,500,000 |   |
| Advances from borrowers for taxes and insurance                                 |   |          | 802,834     |   |   |   | 1,792,790 |   |
| Accrued expenses and other liabilities                                          |   |          | 2,008,626   |   |   |   | 3,626,291 |   |
|                                                                            |   |          |        |   |   |   |   |   |
|     Total liabilities                                       |   |          | 405,709,201 |   |   |   | 406,732,141 |   |
|                                                                            |   |          |        |   |   |   |   |   |
|                                                                            |   |          |        |   |   |   |   |   |
| STOCKHOLDERS' EQUITY                                                            |   |          |        |   |   |   |   |   |
| Preferred stock, $.01 par value, authorized 3,000,000                           |   |          |        |   |   |   |   |   |
|      shares; 10,200 shares were issued and outstanding |   |          | 10,132,589  |   |   |   | 10,118,581 |   |
| Common stock, $.01 par value, authorized 15,500,000                             |   |          |        |   |   |   |   |   |
|      shares; at September 30, 2010 and at December 31, |   |          |        |   |   |   |   |   |
|      2009 1,351,448 and 1,348,448 shares were          |   |          |        |   |   |   |   |   |
|      issued and outstanding                            |   |          | 13,494      |   |   |   | 13,471 |   |
| Additional paid-in capital                                                      |   |          | 18,052,390  |   |   |   | 18,009,468 |   |
| Retained earnings, substantially restricted                                     |   |          | 21,152,342  |   |   |   | 19,924,798 |   |
| Accumulated other comprehensive income                                          |   |          | 614,587     |   |   |   | 212,500 |   |
|                                                                            |   |          |        |   |   |   |   |   |
|     Total stockholders' equity                              |   |          | 49,965,402  |   |   |   | 48,278,818 |   |
|                                                                            |   |          |        |   |   |   |   |   |
|     Total liabilities and stockholders' equity              |   | $             | 455,674,603 |   |   | $ | 455,010,959 |   |
|                                                                            |   |          |        |   |   |   |   |   |
|                                                                            |   |          |        |   |   |   |   |   |
| See Notes to Consolidated Condensed Financial Statements.                       |   |          |        |   |   |

----

| NORTH CENTRAL BANCSHARES, INC. AND SUBSIDIARIES                 |   |               |           |   |              |   |      |   |   |   |
|-----------------------------------------------------------------|--------|--------------------|----------------|--------|-------------------|--------|-----------|--------|--------|--------|
| CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited)         |   |               |           |   |              |   |      |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |
|                                                            |   | Three Months Ended |           |   | Nine Months Ended |   |
|                                                            |   | September 30,      |           |   | September 30,     |   |
|                                                            |   | 2010               |           |   | 2009              |   |      | 2010   |   |   | 2009 |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |
| Interest income:                                                |   |               |           |   |              |   |      |   |   |   |   |   |
|   Loans receivable                                    |   | $                  | 5,141,320      |   |              | $      | 5,878,253 |   |   | $      | 15,988,721 |   |   | $ | 18,063,597 |   |
|   Securities and cash deposits                        |   |               | 335,154        |   |              |   | 279,356   |   |   |   | 869,374 |   |   |   | 846,533 |   |
|                                                            |   |               | 5,476,474      |   |              |   | 6,157,609 |   |   |   | 16,858,095 |   |   |   | 18,910,130 |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
| Interest expense:                                               |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
|   Deposits                                            |   |               | 1,344,400      |   |              |   | 1,547,248 |   |   |   | 4,029,366 |   |   |   | 5,403,044 |   |
|   Borrowed funds                                      |   |               | 597,899        |   |              |   | 858,484   |   |   |   | 1,899,492 |   |   |   | 2,745,765 |   |
|                                                            |   |               | 1,942,299      |   |              |   | 2,405,732 |   |   |   | 5,928,858 |   |   |   | 8,148,809 |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
|   Net interest income                                 |   |               | 3,534,175      |   |              |   | 3,751,877 |   |   |   | 10,929,237 |   |   |   | 10,761,321 |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
| Provision for loan losses                                       |   |               | 168,000        |   |              |   | 450,000   |   |   |   | 2,578,000 |   |   |   | 1,220,000 |   |
|   Net interest income after provision for loan losses |   |               | 3,366,175      |   |              |   | 3,301,877 |   |   |   | 8,351,237 |   |   |   | 9,541,321 |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
| Noninterest income:                                             |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
|   Fees and service charges                            |   |               | 1,266,139      |   |              |   | 1,278,573 |   |   |   | 3,559,002 |   |   |   | 3,534,723 |   |
|   Abstract fees                                       |   |               | 175,187        |   |              |   | 223,456   |   |   |   | 481,871 |   |   |   | 722,947 |   |
|   Mortgage banking income                             |   |               | 350,701        |   |              |   | 177,131   |   |   |   | 591,656 |   |   |   | 823,868 |   |
|   Loan prepayment fees                                |   |               | 2,273          |   |              |   | 30,715    |   |   |   | 29,477 |   |   |   | 242,881 |   |
|   Other income                                        |   |               | 403,768        |   |              |   | 353,149   |   |   |   | 1,074,966 |   |   |   | 1,119,894 |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
|     Total noninterest income                |   |               | 2,198,068      |   |              |   | 2,063,024 |   |   |   | 5,736,972 |   |   |   | 6,444,313 |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
| Investment securities gains (losses), net:                      |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
|   Total other-than-temporary impairment losses        |   |               | -              |   |              |   | -         |   |   |   | - |   |   |   | (23,343 | ) |
|   Portion of loss recognized in other comprehensive   |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
|       income (loss) before taxes  |   |               | -              |   |              |   | -         |   |   |   | - |   |   |   | - |   |
|   Net impairment losses recognized in earnings        |   |               | -              |   |              |   | -         |   |   |   | - |   |   |   | (23,343 | ) |
|   Realized securities gains (losses), net             |   |               |   -  |   |              |   | 5,540     |   |   |   | 7,652 |   |   |   | (14,404 | ) |
|     Total securities gains (losses), net    |   |               | -              |   |              |   | 5,540     |   |   |   | 7,652 |   |   |   | (37,747 | ) |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
| Noninterest expense:                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
|   Compensation and employee benefits                  |   |               | 1,928,708      |   |              |   | 1,856,575 |   |   |   | 5,698,440 |   |   |   | 5,568,730 |   |
|   Premises and equipment                              |   |               | 460,204        |   |              |   | 464,459   |   |   |   | 1,445,629 |   |   |   | 1,393,290 |   |
|   Data processing                                     |   |               | 217,465        |   |              |   | 185,959   |   |   |   | 660,445 |   |   |   | 594,371 |   |
|   FDIC insurance expense                              |   |               | 135,248        |   |              |   | 143,544   |   |   |   | 419,078 |   |   |   | 615,948 |   |
|   Foreclosed real estate impairment                   |   |               | 7,147          |   |              |   | 34,500    |   |   |   | 323,605 |   |   |   | 118,963 |   |
|   Other expenses                                      |   |               | 1,138,599      |   |              |   | 1,170,527 |   |   |   | 3,296,100 |   |   |   | 3,655,248 |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
|     Total noninterest expense               |   |               | 3,887,371      |   |              |   | 3,855,564 |   |   |   | 11,843,297 |   |   |   | 11,946,550 |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
| Income before income taxes                                      |   |               | 1,676,872      |   |              |   | 1,514,877 |   |   |   | 2,252,564 |   |   |   | 4,001,337 |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
| Provision for income taxes                                      |   |               | 511,900        |   |              |   | 513,100   |   |   |   | 588,000 |   |   |   | 1,323,500 |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
| Net income                                                      |   | $                  | 1,164,972      |   |              | $      | 1,001,777 |   |   | $      | 1,664,564 |   |   | $ | 2,677,837 |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
| Preferred stock dividends and accretion of discount             |   | $                  | 132,230        |   |              | $      | 131,991   |   |   | $      | 396,508 |   |   | $ | 382,875 |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
| Net income available to common stockholders                     |   | $                  | 1,032,742      |   |              | $      | 869,786   |   |   | $      | 1,268,056 |   |   | $ | 2,294,962 |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
| Basic earnings per share                                        |   | $                  | 0.77           |   |              | $      | 0.65      |   |   | $      | 0.94 |   |   | $ | 1.71 |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
| Dilluted earnings per share                                     |   | $                  | 0.76           |   |              | $      | 0.65      |   |   | $      | 0.94 |   |   | $ | 1.71 |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
| Dividends declared per common share                             |   | $                  | 0.01           |   |              | $      | 0.01      |   |   | $      | 0.03 |   |   | $ | 0.03 |   |
|                                                            |   |               |           |   |              |   |      |   |   |   |   |   |   |   |   |   |
| See Notes to Consolidated Condensed Financial Statements.       |   |               |           |   |              |   |      |   |   |   |   |   |   |

----

| NORTH CENTRAL BANCSHARES, INC. ANDSUBSIDIARIES            |   |          |      |   |      |   |       |   |   |   |       |   |   |       |       |   |          |       |
|-----------------------------------------------------------|--------|---------------|-----------|--------|-----------|--------|------------|--------|--------|--------|------------|--------|--------|------------|------------|--------|---------------|------------|
|                                                      |   |          |      |   |      |   |       |   |   |   |       |   |   |       |       |   |          |       |   |   |   |
| CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY |   |          |      |   |      |   |       |   |   |   |       |   |   |       |       |   |          |       |
| Nine Months Ended September 30, 2009 and 2010             |   |          |      |   |      |   |       |   |   |   |       |   |   |       |       |   |          |       |   |   |   |
| (Unaudited)                                               |   |          |      |   |      |   |       |   |   |   |       |   |   |       |       |   |          |       |   |   |   |
|                                                      |   |          |      |   |      |   |       |   |   |   |       |   |   |       |       |   |          |       |   |   |   |
|                                                      |   |          |      |   |      |   |       |   |   |   |       |   |   |       |       |   | Accumulated   |       |   |   |   |
|                                                      |   |          |      |   |      |   |       |   |   |   | Additional |   |   |       |       |   | Other         |       |   | Total |   |
|                                                      |   | Comprehensive |      |   | Preferred |   |       | Common |   |   | Paid-in    |   |   | Retained   |       |   | Comprehensive |       |   | Stockholders' |   |
|                                                      |   | Income        |      |   | Stock     |   |       | Stock  |   |   | Capital    |   |   | Earnings   |       |   | Income        |       |   | Equity |   |
|                                                      |   |          |      |   |      |   |       |   |   |   |       |   |   |       |       |   |          |       |   |   |   |
| Balance, January 1, 2009                                  |   |          |      |   | $         | -      |       |   | $      | 13,421 |       |   | $      | 17,819,096 |       |   | $             | 17,240,779 |   |   | $ | 138,847 |   |   | $ | 35,212,143 |   |
| Comprehensive income:                                     |   |          |      |   |      |   |       |   |   |   |       |   |   |       |       |   |          |       |   |   |   |   |   |   |   |   |   |
| Net income                                                |   | $             | 2,677,837 |   |      |   | -          |   |   |   | -          |   |   |       | -          |   |          |       | 2,677,837 |   |   |   | - |   |   |   | 2,677,837 |   |
| Other comprehensive income, net of                        |   |          |      |   |      |   |       |   |   |   |       |   |   |       |       |   |          |       |   |   |   |   |   |   |   |   |   |   |
| reclassification adjustment and tax                       |   |          | 314,148   |   |      |   | -          |   |   |   | -          |   |   |       | -          |   |          |       | - |   |   |   | 314,148 |   |   |   | 314,148 |   |
| Total comprehensive income                                |   | $             | 2,991,985 |   |      |   |       |   |   |   |       |   |   |       |       |   |          |       |   |   |   |   |   |   |   |   |   |   |
| Dividends on preferred stock                              |   |          |      |   |      |   | -          |   |   |   | -          |   |   |       | -          |   |          |       | (306,000 | ) |   |   | - |   |   |   | (306,000 | ) |
| Dividends on common stock                                 |   |          |      |   |      |   | -          |   |   |   | -          |   |   |       | -          |   |          |       | (40,363 | ) |   |   | - |   |   |   | (40,363 | ) |
| Employee stock-based compensation                         |   |          |      |   |      |   | -          |   |   |   | 22         |   |   |       | 43,133     |   |          |       | - |   |   |   | - |   |   |   | 43,155 |   |
| Issuance of preferred stock and common stock warrant      |   |          |      |   |      |   | 10,200,000 |   |   |   | -          |   |   |       | -          |   |          |       | - |   |   |   | - |   |   |   | 10,200,000 |   |
| Discount of preferred stock                               |   |          |      |   |      |   | (99,268    | )      |   |   |       |   |   |       | 99,268     |   |          |       |   |   |   |   |   |   |   |   |   |   |
| Accretion of discount on preferred stock                  |   |          |      |   |      |   | 13,300     |   |   |   | -          |   |   |       | -          |   |          |       | (13,300 | ) |   |   | - |   |   |   | - |   |
| Balance, September 30, 2009                               |   |          |      |   |      | $      | 10,114,032 |   |   | $      | 13,443     |   |   | $          | 17,961,497 |   |          | $          | 19,558,953 |   |   | $ | 452,995 |   |   | $ | 48,100,920 |   |
|                                                      |   |          |      |   |      |   |       |   |   |   |       |   |   |       |       |   |          |       |   |   |   |   |   |   |   |   |   |   |
| Balance, January 1, 2010                                  |   |          |      |   |      | $      | 10,118,581 |   |   | $      | 13,471     |   |   | $          | 18,009,468 |   |          | $          | 19,924,798 |   |   | $ | 212,500 |   |   | $ | 48,278,818 |   |
| Comprehensive income:                                     |   |          |      |   |      |   |       |   |   |   |       |   |   |       |       |   |          |       |   |   |   |   |   |   |   |   |   |   |
| Net income                                                |   | $             | 1,664,564 |   |      |   | -          |   |   |   | -          |   |   |       | -          |   |          |       | 1,664,564 |   |   |   | - |   |   |   | 1,664,564 |   |
| Other comprehensive income, net of                        |   |          |      |   |      |   |       |   |   |   |       |   |   |       |       |   |          |       |   |   |   |   |   |   |   |   |   |   |
| reclassification adjustment and tax                       |   |          | 402,087   |   |      |   | -          |   |   |   | -          |   |   |       | -          |   |          |       | - |   |   |   | 402,087 |   |   |   | 402,087 |   |
| Total comprehensive income                                |   | $             | 2,066,651 |   |      |   |       |   |   |   |       |   |   |       |       |   |          |       |   |   |   |   |   |   |   |   |   |   |
| Dividends on preferred stock                              |   |          |      |   |      |   | -          |   |   |   | -          |   |   |       | -          |   |          |       | (382,500 | ) |   |   | - |   |   |   | (382,500 | ) |
| Dividends on common stock                                 |   |          |      |   |      |   | -          |   |   |   | -          |   |   |       | -          |   |          |       | (40,512 | ) |   |   | - |   |   |   | (40,512 | ) |
| Employee stock-based compensation                         |   |          |      |   |      |   | -          |   |   |   | 23         |   |   |       | 42,922     |   |          |       | - |   |   |   | - |   |   |   | 42,945 |   |
| Accretion of discount on preferred stock                  |   |          |      |   |      |   | 14,008     |   |   |   | -          |   |   |       | -          |   |          |       | (14,008 | ) |   |   | - |   |   |   | - |   |
| Balance, September 30, 2010                               |   |          |      |   |      | $      | 10,132,589 |   |   | $      | 13,494     |   |   | $          | 18,052,390 |   |          | $          | 21,152,342 |   |   | $ | 614,587 |   |   | $ | 49,965,402 |   |
|                                                      |   |          |      |   |      |   |       |   |   |   |       |   |   |       |       |   |          |       |   |   |   |   |   |   |   |   |   |   |
|                                                      |   |          |      |   |      |   |       |   |   |   |       |   |   |       |       |   |          |       |   |   |   |   |   |   |   |   |   |   |
| See Notes to Consolidated Condensed Financial Statements  |   |          |      |   |      |   |       |   |   |   |       |   |   |       |       |   |          |       |   |   |   |   |   |   |   |   |   |   |

----

| NORTH CENTRAL BANCSHARES, INC. AND SUBSIDIARIES                              |   |              |        |   |   |   |
|-----------------------------------------------------------------------------------|--------|-------------------|-------------|--------|--------|--------|
| CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS                                   |   |              |        |   |   |   |
| (Unaudited)                                                                       |   | Nine Months Ended |        |
|                                                                              |   | September 30,     |        |
|                                                                              |   | 2010              |        |   | 2009   |   |
| CASH FLOWS FROM OPERATING ACTIVITIES                                              |   |              |        |   |   |   |
| Net income                                                                        |   | $                 | 1,664,564   |   |   | $      | 2,677,837 |   |
| Adjustments to reconcile net income to net cash                                   |   |              |        |   |   |   |   |   |
| provided by operating activities:                                                 |   |              |        |   |   |   |   |   |
|   Provision for loan losses                                             |   |              | 2,578,000   |   |   |   | 1,220,000 |   |
|   Depreciation                                                          |   |              | 692,495     |   |   |   | 675,338 |   |
|   Amortization and accretion                                            |   |              | 174,491     |   |   |   | 383,596 |   |
|   Deferred taxes                                                        |   |              | (373,000    | )      |   |   | 1,420,824 |   |
|   Stock-based compensation                                              |   |              | 42,945      |   |   |   | 43,155 |   |
|   Excess tax benefit related to stock-based compensation                |   |              | -           |   |   |   | 18,550 |   |
|   (Gain) on sale of foreclosed real estate and loans, net               |   |              | (572,142    | )      |   |   | (823,694 | ) |
|   Provision for impairment on investments                               |   |              | -           |   |   |   | 23,343 |   |
|   Loss on sale or disposal of equipment and other assets, net           |   |              | -           |   |   |   | 62 |   |
|   Write-down of other real estate owned                                 |   |              | 323,605     |   |   |   | 118,963 |   |
|   (Gain) loss on sale of investments                                    |   |              | (7,652      | )      |   |   | 14,404 |   |
|   Increase in value of bank-owned life insurance                        |   |              | (183,564    | )      |   |   | (187,867 | ) |
|   Proceeds from sales of loans held-for-sale                            |   |              | 30,991,488  |   |   |   | 61,659,026 |   |
|   Originations of loans held-for-sale                                   |   |              | (29,835,087 | )      |   |   | (60,850,150 | ) |
|   Change in assets and liabilities:                                     |   |              |        |   |   |   |   |   |
|     Accrued interest receivable                               |   |              | 114,688     |   |   |   | 197,177 |   |
|     Prepaid expenses and other assets                         |   |              | 531,720     |   |   |   | (518,771 | ) |
|     Accrued expenses and other liabilities                    |   |              | (1,611,140  | )      |   |   | (920,599 | ) |
|                                                                              |   |              |        |   |   |   |   |   |
|       Net cash provided by operating activities     |   |              | 4,531,411   |   |   |   | 5,151,194 |   |
|                                                                              |   |              |        |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES                                              |   |              |        |   |   |   |   |   |
|   Net change in loans                                                   |   |              | 31,641,392  |   |   |   | 27,996,477 |   |
|   Purchase of loans                                                     |   |              | -           |   |   |   | (14,428,954 | ) |
|   Purchase of investments in certificates of deposit                    |   |              | (16,473,000 | )      |   |   | - |   |
|   Purchase of securities available-for-sale                             |   |              | (29,481,954 | )      |   |   | (8,032,172 | ) |
|   Proceeds from sale of securities available-for-sale                   |   |              | 207,732     |   |   |   | 832,000 |   |
|   Proceeds from maturities and calls of securities available-for-sale   |   |              | 10,576,962  |   |   |   | 5,202,054 |   |
|   Proceeds from maturities on investments in certificates of deposit    |   |              | 2,193,000   |   |   |   | - |   |
|   Proceeds from redemption of Federal Home Loan Bank stock              |   |              | 717,600     |   |   |   | - |   |
|   Purchase of Federal Home Loan Bank stock                              |   |              | (173,200    | )      |   |   | (46,600 | ) |
|   Purchase of premises, equipment and rental real estate                |   |              | (319,236    | )      |   |   | (449,824 | ) |
|   Net proceeds from sale of foreclosed real estate                      |   |              | 939,177     |   |   |   | 1,428,536 |   |
|                                                                              |   |              |        |   |   |   |   |   |
|     Net cash provided by (used in) investing activities       |   |              | (171,527    | )      |   |   | 12,501,517 |   |
|                                                                              |   |              |        |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                                              |   |              |        |   |   |   |   |   |
|   Net increase (decrease) in deposits                                   |   |              | 14,334,681  |   |   |   | (21,418,323 | ) |
|   Net (decrease) in advances from borrowers for taxes                   |   |              |        |   |   |   |   |   |
|      and insurance                                       |   |              | (989,956    | )      |   |   | (1,062,139 | ) |
|   Proceeds from other borrowed funds                                    |   |              | 5,250,000   |   |   |   | 8,500,000 |   |
|   Payments of other borrowed funds                                      |   |              | (18,000,000 | )      |   |   | (18,023,176 | ) |
|   Proceeds from issuance of preferred stock and                         |   |              |        |   |   |   |   |   |
|      common stock warrant                                |   |              | -           |   |   |   | 10,200,000 |   |
|    Excess tax benefit related to stock-based compensation          |   |              | -           |   |   |   | (18,550 | ) |
|   Common and preferred dividends paid                                   |   |              | (422,983    | )      |   |   | (346,333 | ) |
|                                                                              |   |              |        |   |   |   |   |   |
|     Net cash provided by (used in) financing activities       |   |              | 171,742     |   |   |   | (22,168,521 | ) |
|                                                                              |   |              |        |   |   |   |   |   |
|     Net increase (decrease) in cash                           |   |              | 4,531,626   |   |   |   | (4,515,810 | ) |
|                                                                              |   |              |        |   |   |   |   |   |
| CASH AND DUE FROM BANKS                                                           |   |              |        |   |   |   |   |   |
|   Beginning                                                             |   |              | 21,766,170  |   |   |   | 16,281,644 |   |
|   Ending                                                                |   | $                 | 26,297,796  |   |   | $      | 11,765,834 |   |
|                                                                              |   |              |        |   |   |
|                                                                              |   |              |        |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW                                             |   |              |        |   |   |   |   |   |
|   INFORMATION                                                           |   |              |        |   |   |   |   |   |
| Cash payments for:                                                                |   |              |        |   |   |   |   |   |
|   Interest paid to depositors                                           |   | $                 | 4,132,907   |   |   | $      | 5,500,837 |   |
|   Interest paid on borrowings                                           |   |              | 1,899,492   |   |   |   | 2,745,765 |   |
|   Income taxes                                                          |   |              | 1,584,693   |   |   |   | 48,162 |   |
|                                                                              |   |              |        |   |   |   |   |   |
| SUPPLEMENTAL DISCLOSURE OF NONCASH OPERATING,                                     |   |              |        |   |   |   |   |   |
|   INVESTING AND FINANCING ACTIVITIES                                    |   |              |        |   |   |   |   |   |
|   Transfers from loans to other real estate owned                       |   | $                 | 3,268,407   |   |   | $      | 1,804,082 |   |
|                                                                              |   |              |        |   |   |   |   |   |
|     See Notes to Consolidated Condensed Financial Statements. |   |              |        |   |   |   |   |   |

----

----

|                                                                                                                   |   | Three Months Ended September 30, |      | Nine Months Ended September 30, |   |
|------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|-----------|---------------------------------|--------|
|                                                                                                                   |   | 2010                             |      | 2009                            |   | 2010 |   | 2009 |   |
| Basic earnings per common share:                                                                                       |   |                             |      |                            |   |   |   |   |   |
|      Net Income                                                                               |   | $                                | 1,164,972 |                            | $      | 1,001,777 |   | $ | 1,664,564 |   | $ | 2,677,837 |   |
|      Preferred stock dividends and accretion of discount                                      |   |                             | 132,230   |                            |   | 131,991 |   |   | 396,508 |   |   | 382,875 |   |
|           Net income available to common stockholders                |   | $                                | 1,032,742 |                            | $      | 869,786 |   | $ | 1,268,056 |   | $ | 2,294,962 |   |
|      Weighted average common shares outstanding - basic                                       |   |                             | 1,347,948 |                            |   | 1,342,948 |   |   | 1,346,612 |   |   | 1,341,779 |   |
|      Basic earnings per common share                                                          |   | $                                | 0.77      |                            | $      | 0.65 |   | $ | 0.94 |   | $ | 1.71 |   |
|                                                                                                                   |   |                             |      |                            |   |   |   |   |   |   |   |   |   |
| Diluted earnings per common share:                                                                                     |   |                             |      |                            |   |   |   |   |   |   |   |   |   |
|      Net income available to common stockholders                                              |   |                             | 1,032,742 |                            |   | 869,786 |   |   | 1,268,056 |   |   | 2,294,962 |   |
|      Weighted average common shares outstanding - basic                                       |   |                             | 1,347,948 |                            |   | 1,342,948 |   |   | 1,346,612 |   |   | 1,341,779 |   |
|      Effect of dilutive securities:                                                           |   |                             |      |                            |   |   |   |   |   |   |   |   |   |
|           Stock Options                                              |   |                             | -         | 1                               |   | 223 | 2 |   | - | 3 |   | 74 | 2 |
|           Restricted Stock                                           |   |                             | 3,500     |                            |   | 3,500 |   |   | 3,605 |   |   | 3,307 |   |
|           Common stock warrant                                       |   |                             | -         | 1                               |   | - | 4 |   | 2,819 |   |   | - | 4 |
|           Total diluted average common shares issued and outstanding |   |                             | 1,351,448 |                            |   | 1,346,671 |   |   | 1,353,036 |   |   | 1,345,160 |   |
|      Diluted earnings per common share                                                        |   | $                                | 0.76      |                            | $      | 0.65 |   | $ | 0.94 |   | $ | 1.71 |   |
|                                                                                                                   |   |                             |      |                            |   |   |   |   |   |   |   |   |   |

| Securities available-for-sale as of September 30, 2010 were as follows:                                                                   |   |      |       |   |       |   |    |
|-------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------|------------|--------|------------|--------|---------|
|                                                                                                                                      |   |      |       |   |       |   |    |   |   |   |   |   |
|                                                                                                                                      |   |      |       |   | Gross      |   |    | Gross |   |   |   |   |
|                                                                                                                                      |   | Amortized |       |   | Unrealized |   |    | Unrealized |   |   |   |   |
|                                                                                                                                      |   | Cost      |       |   | Gains      |   |    | (Losses) |   |   | Fair Value |   |
|                                                                                                                                      |   |      |       |   |       |   |    |   |   |   |   |   |
| Debt securities:                                                                                                                          |   |      |       |   |       |   |    |   |   |   |   |   |
|      State and local obligations                                                                                 |   | $         | 3,859,764  |   |       | $      | 169,965 |   |   | $ | (103 | ) |   | $ | 4,029,626 |   |
|      Mortgage-backed securities(1)                                                                               |   |      | 10,510,408 |   |       |   | 353,054 |   |   |   | (2,843 | ) |   |   | 10,860,619 |   |
|      Collateralized mortgage obligations (1)                                                                     |   |      | 16,435,148 |   |       |   | 305,954 |   |   |   | - |   |   |   | 16,741,102 |   |
|      Corporate bonds                                                                                             |   |      | 1,085,265  |   |       |   | 17,725  |   |   |   | - |   |   |   | 1,102,990 |   |
|      U.S. Government agencies                                                                                    |   |      | 9,528,712  |   |       |   | 136,451 |   |   |   | - |   |   |   | 9,665,163 |   |
| Total                                                                                                                                     |   | $         | 41,419,297 |   |       | $      | 983,149 |   |   | $ | (2,946 | ) |   | $ | 42,399,500 |   |
|                                                                                                                                      |   |      |       |   |       |   |    |   |   |   |   |   |   |   |   |   |
|                                                                                                                                      |   |      |       |   |       |   |    |   |   |   |   |   |   |   |   |   |
| Securities available-for-sale as of December 31, 2009 were as follows:                                                                    |   |      |       |   |       |   |    |   |   |
|                                                                                                                                      |   |      |       |   |       |   |    |   |   |   |   |   |   |   |   |   |
|                                                                                                                                      |   |      |       |   |       | Gross  |    |   | Gross |   |   |   |   |   |
|                                                                                                                                      |   | Amortized |       |   | Unrealized |   |    | Unrealized |   |   |   |   |   |
|                                                                                                                                      |   | Cost      |       |   | Gains      |   |    | (Losses) |   |   | Fair Value |   |
|                                                                                                                                      |   |      |       |   |       |   |    |   |   |   |   |   |   |   |   |   |
| Equity securities, mutual fund                                                                                                            |   | $         | 200,080    |   |       | $      | 6,801   |   |   | $ | - |   |   | $ | 206,881 |   |
|                                                                                                                                      |   |      |       |   |       |   |    |   |   |   |   |   |   |   |   |   |
| Debt securities:                                                                                                                          |   |      |       |   |       |   |    |   |   |   |   |   |   |   |   |   |
|      State and local obligations                                                                                 |   |      | 4,215,913  |   |       |   | 112,114 |   |   |   | (1,530 | ) |   |   | 4,326,497 |   |
|      Mortgage-backed securities (1)                                                                              |   |      | 10,872,331 |   |       |   | 302,038 |   |   |   | (9,056 | ) |   |   | 11,165,313 |   |
|      U.S. Government agencies                                                                                    |   |      | 7,552,007  |   |       |   | 5,163   |   |   |   | (80,660 | ) |   |   | 7,476,510 |   |
|                                                                                                                                      |   |      | 22,640,251 |   |       |   | 419,315 |   |   |   | (91,246 | ) |   |   | 22,968,320 |   |
| Total                                                                                                                                     |   | $         | 22,840,331 |   |       | $      | 426,116 |   |   | $ | (91,246 | ) |   | $ | 23,175,201 |   |
|                                                                                                                                      |   |      |       |   |       |   |    |   |   |   |   |   |   |   |   |   |
| (1) All mortgage backed securities and collateralized mortgage obligations consist of securities issued by government sponsored agencies. |   |      |       |   |       |   |    |   |   |

----

|                                                      |   |                |      |   |              |       |    |       |   |   |       |   |       |       |   |   |       |   |
|-----------------------------------------------------------|--------|---------------------|-----------|--------|-------------------|------------|---------|------------|--------|--------|------------|--------|------------|------------|--------|--------|------------|--------|
|                                                      |   |                |      |   |              |       |    |       |   |   |       |   |       |       |   |   |       |   |
|                                                      |   | September 30, 2010  |      |
|                                                      |   | Less than 12 Months |      |   | 12 Months or More |       |    | Total      |   |
|                                                      |   |                |      |   | Unrealized        |       |    |       |   |   | Unrealized |   |       |       |   |   | Unrealized |   |
|                                                      |   | Fair Value          |      |   | Losses            |       |    | Fair Value |   |   | Losses     |   |       | Fair Value |   |   | Losses     |   |
| Debt securities:                                          |   |                |      |   |              |       |    |       |   |   |       |   |       |       |   |   |       |   |
|      State and local obligations |   | $                   | 89,897    |   |              | $          | (103    | )          |   | $      | -          |   |       | $          | -      |   |       | $      | 89,897 |   |   | $ | (103 | ) |
|      Mortgage-backed securities  |   |                | 1,270,994 |   |              |       | (2,843  | )          |   |   | -          |   |       |       | -      |   |       |   | 1,270,994 |   |   |   | (2,843 | ) |
| Total                                                     |   | $                   | 1,360,891 |   |              | $          | (2,946  | )          |   | $      | -          |   |       | $          | -      |   |       | $      | 1,360,891 |   |   | $ | (2,946 | ) |
|                                                      |   |                |      |   |              |       |    |       |   |   |       |   |       |       |   |   |       |   |   |   |   |   |   |   |
|                                                      |   |                |      |   |              |       |    |       |   |   |       |   |       |       |   |   |       |   |   |   |   |   |   |   |
|                                                      |   | December 31, 2009   |      |
|                                                      |   | Less than 12 Months |      |   | 12 Months or More |       |    | Total      |   |
|                                                      |   |                |      |   |              | Unrealized |    |       |   |   |       |   | Unrealized |       |   |   |       |   |   | Unrealized |   |
|                                                      |   | Fair Value          |      |   | Losses            |       |    | Fair Value |   |   | Losses     |   |       | Fair Value |   |   | Losses     |   |
| Debt securities:                                          |   |                |      |   |              |       |    |       |   |   |       |   |       |       |   |   |       |   |   |   |   |   |   |   |
|      State and local obligations |   | $                   | 353,470   |   |              | $          | (1,530  | )          |   | $      | -          |   |       | $          | -      |   |       | $      | 353,470 |   |   | $ | (1,530 | ) |
|      Mortgage-backed securities  |   |                | 1,013,063 |   |              |       | (9,056  | )          |   |   | -          |   |       |       | -      |   |       |   | 1,013,063 |   |   |   | (9,056 | ) |
|      U.S. Government agencies    |   |                | 3,919,340 |   |              |       | (80,660 | )          |   |   | -          |   |       |       | -      |   |       |   | 3,919,340 |   |   |   | (80,660 | ) |
| Total                                                     |   | $                   | 5,285,873 |   |              | $          | (91,246 | )          |   | $      | -          |   |       | $          | -      |   |       | $      | 5,285,873 |   |   | $ | (91,246 | ) |

|                                                  |   |                               |       |   |       |   |
|-------------------------------------------------------|--------|------------------------------------|------------|--------|------------|--------|
|                                                  |   | Debt Securities Available-for-Sale |       |
|                                                  |   | September 30, 2010                 |       |
|                                                  |   | Amortized                          |       |   |       |   |
|                                                  |   | Cost                               |       |   | Fair Value |   |
|                                                  |   |                               |       |   |       |   |
| Due in one year or less                               |   | $                                  | 45,000     |   |       | $      | 44,919 |   |
| Due from one to five years                            |   |                               | 7,341,421  |   |       |   | 7,432,980 |   |
| Due from five to ten years                            |   |                               | 6,058,603  |   |       |   | 6,266,076 |   |
| Due after ten years                                   |   |                               | 1,028,718  |   |       |   | 1,053,804 |   |
| Mortgage-backed securities and                        |   |                               |       |   |       |   |   |   |
|    collateralized mortgage obligations |   | $                                  | 26,945,556 |   |       | $      | 27,601,721 |   |
|                                                  |   | $                                  | 41,419,298 |   |       | $      | 42,399,500 |   |

----

|                                                                                                                          |   |                            |     |   |   |   |
|-------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------|----------|--------|--------|--------|
|                                                                                                                          |   | Nine Months Ended September 30, |     |
|                                                                                                                          |   | 2010                            |     |   | 2009   |   |
| Other comprehensive income:                                                                                                   |   |                            |     |   |   |   |
|                                                                                                                          |   |                            |     |   |   |   |
|      Securities for which a portion of an other-than-temporary impairment has been recorded in       |   |                            |     |   |   |   |
|           earnings:                                                         |   |                            |     |   |   |   |
|           Unrealized holding gain/(loss) arising during the period          |   | $                               | 851      |   |   | $      | (37,747 | ) |
|           (Gain)/loss recognized in earnings                                |   |                            | (7,652   | )      |   |   | 37,747 |   |
|      Net unrealized gain on securities with other-than-temporary impairment before tax expense       |   |                            | (6,801   | )      |   |   | - |   |
|           Tax expense                                                       |   |                            | -        |   |   |   | - |   |
|      Net unrealized (losses) on securities with other-than-temporary impairment, net of tax in other |   |                            |     |   |   |   |   |   |
|            comprehensive income                                        |   |                            | (6,801   | )      |   |   | - |   |
|                                                                                                                          |   |                            |     |   |   |   |   |   |
|      Other securities:                                                                               |   |                            |     |   |   |   |   |   |
|            Unrealized holding gains arising during the period          |   |                            | 652,134  |   |   |   | 492,090 |   |
|            Realized net (gains) losses recognized into net income      |   |                            | -        |   |   |   | - |   |
|      Net unrealized gains (losses) on other securities before tax (expense) benefit                  |   |                            | 652,134  |   |   |   | 492,090 |   |
|            Tax (expense) benefit                                       |   |                            | (243,246 | )      |   |   | (177,942 | ) |
|      Net unrealized gains (losses) on other securities, net of tax in other comprehensive income     |   |                            | 408,888  |   |   |   | 314,148 |   |
|            Total other comprehensive income                            |   | $                               | 402,087  |   |   | $      | 314,148 |   |

|                                                                            |   | September 30, 2010 |    |   | December 31, 2009 |   |
|---------------------------------------------------------------------------------|--------|--------------------|---------|--------|-------------------|--------|
| Accumulated other comprehensive income:                                         |   |               |    |   |              |   |
|                                                                            |   |               |    |   |              |   |
| Unrealized gains on available for sale securities for which a portion of other- |   |               |    |   |
| than-temporary impairment has been recorded in earnings, net of tax of $0       |   | $                  | -       |   |              | $      | 6,801 |   |
| at September 30, 2010 and December 31, 2009                                     |   |               |    |   |              |   |   |   |
|                                                                            |   |               |    |   |              |   |   |   |
| Unrealized gains on available for sale securities which are not other-than-     |   |               |    |   |              |
| temporarily impaired, net of tax of $365,616 and $122,370 at September 30,      |   |               | 614,587 |   |              |   | 205,699 |   |
| 2010 and December 31, 2009, respectively                                        |   | $                  | 614,587 |   |              | $      | 212,500 |   |

|                                                        |   |          |       |   |         |   |
|-------------------------------------------------------------|--------|---------------|------------|--------|--------------|--------|
|                                                        |   | September 30, |       |   | December 31, |   |
|                                                        |   | 2010          |       |   | 2009         |   |
| Impaired loans without a valuation allowance                |   | $             | 8,162,796  |   |         | $      | 11,161,636 |   |
| Impaired loans with a valuation allowance                   |   | $             | 16,860,181 |   |         | $      | 11,593,200 |   |
| Total impaired loans                                        |   | $             | 25,022,977 |   |         | $      | 22,754,836 |   |
|                                                        |   |          |       |   |         |   |   |   |
| Valuation allowance related to impaired loans               |   | $             | 3,679,795  |   |         | $      | 3,158,303 |   |
|                                                        |   |          |       |   |         |   |   |   |
| Total nonaccrual loans                                      |   | $             | 15,032,069 |   |         | $      | 14,349,340 |   |
|                                                        |   |          |       |   |         |   |   |   |
| Total loans past due ninety days or more and still accruing |   | $             | -          |   |         | $      | - |   |

----

|                            |   |                             |       |   |                            |   |      |   |   |   |       |   |
|---------------------------------|--------|----------------------------------|------------|--------|---------------------------------|--------|-----------|--------|--------|--------|------------|--------|
|                            |   | Three Months Ended September 30, |       |   | Nine Months Ended September 30, |   |
|                            |   | 2010                             |       |   | 2009                            |   |      | 2010   |   |   | 2009       |   |
| Balance at beginning of period  |   | $                                | 8,992,716  |   |                            | $      | 5,698,054 |   |   | $      | 7,170,595  |   |   | $ | 5,379,155 |   |
| Charge-offs                     |   |                             | (1,496,146 | )      |                            |   | (199,333  | )      |   |   | (2,090,121 | )      |   |   | (657,843 | ) |
| Recoveries                      |   |                             | 6,976      |   |                            |   | 8,022     |   |   |   | 13,072     |   |   |   | 15,431 |   |
| Net charge-offs                 |   |                             | (1,489,170 | )      |                            |   | (191,311  | )      |   |   | (2,077,049 | )      |   |   | (642,412 | ) |
| Provision charged to operations |   |                             | 168,000    |   |                            |   | 450,000   |   |   |   | 2,578,000  |   |   |   | 1,220,000 |   |
| Balance at end of period        |   | $                                | 7,671,546  |   |                            | $      | 5,956,743 |   |   | $      | 7,671,546  |   |   | $ | 5,956,743 |   |

|   | 1.     |   | Level 1 – Valuation is based upon quoted prices for identical instruments traded in active markets.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|--------|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|   | 2.     |   | Level 2 – Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market.                                                                                                                                                                                                                                                                                                      |
|   |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|   | 3.     |   | Level 3 – Valuation is generated from model-based techniques that use significant assumptions not observable in the market.  These unobservable assumptions reflect the Company’s own estimates of assumptions that market participants would use in pricing the asset or liability.  Valuation techniques include the use of option pricing models, discounted cash flow models, and similar techniques.  The results cannot be determined with precision and may not be realized in an actual sale or immediate settlement of the asset or liability. |

|                                                              |   |                                          |    |   |              |   |       |                |   |   |   |   |
|-------------------------------------------------------------------|--------|-----------------------------------------------|---------|--------|-------------------|--------|------------|---------------------|--------|--------|--------|--------|
|                                                              |   | Fair Value Measurements at September 30, 2010 |    |
|                                                              |   |                                          |    |   |              |   |       |                |   |   |   |   |
|                                                              |   | Quoted Prices                                 |    |   |              |   |       |                |   |   |   |   |
|                                                              |   | in Active Markets                             |    |   | Significant Other |   |       | Significant         |   |   |   |   |
|                                                              |   | for Identical Assets                          |    |   | Observable Inputs |   |       | Unobservable Inputs |   |   |   |   |
| Description                                                       |   | (Level 1)                                     |    |   | (Level 2)         |   |       | (Level 3)           |   |   | Total  |   |
| Securities available-for-sale                                     |   |                                          |    |   |              |   |       |                |   |   |   |   |
|      State and local obligations         |   | $                                             | -       |   |              | $      | 4,029,626  |                |   | $      | -      |   |   | $ | 4,029,626 |   |
|      Mortgage-backed securities          |   |                                          | -       |   |              |   | 10,860,619 |                |   |   | -      |   |   |   | 10,860,619 |   |
|      Collateralized mortgage obligations |   |                                          | -       |   |              |   | 16,741,102 |                |   |   | -      |   |   |   | 16,741,102 |   |
|      Corporate bonds                     |   |                                          | -       |   |              |   | 1,102,990  |                |   |   | -      |   |   |   | 1,102,990 |   |
|      U.S. Government agencies            |   |                                          | -       |   |              |   | 9,665,163  |                |   |   | -      |   |   |   | 9,665,163 |   |
| Total securities available-for-sale                               |   | $                                             | -       |   |              | $      | 42,399,500 |                |   | $      | -      |   |   | $ | 42,399,500 |   |
|                                                              |   |                                          |    |   |              |   |       |                |   |   |   |   |   |   |   |   |
|                                                              |   |                                          |    |   |              |   |       |                |   |   |   |   |   |   |   |   |
|                                                              |   | Fair Value Measurements at December 31, 2009  |    |
|                                                              |   |                                          |    |   |              |   |       |                |   |   |   |   |   |   |   |   |
|                                                              |   | Quoted Prices                                 |    |   |              |   |       |                |   |   |   |   |   |   |   |
|                                                              |   | in Active Markets                             |    |   | Significant Other |   |       | Significant         |   |   |   |   |   |
|                                                              |   | for Identical Assets                          |    |   | Observable Inputs |   |       | Unobservable Inputs |   |   |   |   |   |
| Description                                                       |   | (Level 1)                                     |    |   | (Level 2)         |   |       | (Level 3)           |   |   | Total  |   |
| Securities available-for-sale                                     |   |                                          |    |   |              |   |       |                |   |   |   |   |   |   |   |   |
|      Equity securities, mutual fund      |   | $                                             | 206,881 |   |              | $      | -          |                |   | $      | -      |   |   | $ | 206,881 |   |
|      State and local obligations         |   |                                          | -       |   |              |   | 4,326,497  |                |   |   | -      |   |   |   | 4,326,497 |   |
|      Mortgage-backed securities          |   |                                          | -       |   |              |   | 11,165,313 |                |   |   | -      |   |   |   | 11,165,313 |   |
|      U.S. Government agencies            |   |                                          | -       |   |              |   | 7,476,510  |                |   |   | -      |   |   |   | 7,476,510 |   |
| Total securities available-for-sale                               |   | $                                             | 206,881 |   |              | $      | 22,968,320 |                |   | $      | -      |   |   | $ | 23,175,201 |   |

----

|                   |   |                                          |   |   |              |   |   |                |   |   |       |   |
|------------------------|--------|-----------------------------------------------|--------|--------|-------------------|--------|--------|---------------------|--------|--------|------------|--------|
|                   |   | Fair Value Measurements at September 30, 2010 |   |
|                   |   |                                          |   |   |              |   |   |                |   |   |       |   |
|                   |   | Quoted Prices                                 |   |   |              |   |   |                |   |   |       |   |
|                   |   | in Active Markets                             |   |   | Significant Other |   |   | Significant         |   |   |       |   |
|                   |   | for Identical Assets                          |   |   | Observable Inputs |   |   | Unobservable Inputs |   |   |       |   |
| Description            |   | (Level 1)                                     |   |   | (Level 2)         |   |   | (Level 3)           |   |   | Total      |   |
| Assets:                |   |                                          |   |   |              |   |   |                |   |   |       |   |
| Impaired loans         |   | $                                             | -      |   |              | $      | -      |                |   | $      | 13,180,386 |   |   | $ | 13,180,386 |   |
| Foreclosed real estate |   |                                          | -      |   |              |   | -      |                |   |   | 3,688,684  |   |   |   | 3,688,684 |   |
| Total                  |   | $                                             | -      |   |              | $      | -      |                |   | $      | 16,869,070 |   |   | $ | 16,869,070 |   |
|                   |   |                                          |   |   |              |   |   |                |   |   |       |   |   |   |   |   |
|                   |   |                                          |   |   |              |   |   |                |   |   |       |   |   |   |   |   |
|                   |   | Fair Value Measurements at December 31, 2009  |   |
|                   |   |                                          |   |   |              |   |   |                |   |   |       |   |   |   |   |   |
|                   |   | Quoted Prices                                 |   |   |              |   |   |                |   |   |       |   |   |   |   |
|                   |   | in Active Markets                             |   |   | Significant Other |   |   | Significant         |   |   |       |   |   |
|                   |   | for Identical Assets                          |   |   | Observable Inputs |   |   | Unobservable Inputs |   |   |       |   |   |
| Description            |   | (Level 1)                                     |   |   | (Level 2)         |   |   | (Level 3)           |   |   | Total      |   |
| Assets:                |   |                                          |   |   |              |   |   |                |   |   |       |   |   |   |   |   |
| Impaired loans         |   | $                                             | -      |   |              | $      | -      |                |   | $      | 8,434,897  |   |   | $ | 8,434,897 |   |
| Foreclosed real estate |   |                                          | -      |   |              |   | -      |                |   |   | 1,709,128  |   |   |   | 1,709,128 |   |
| Total                  |   | $                                             | -      |   |              | $      | -      |                |   | $      | 10,144,025 |   |   | $ | 10,144,025 |   |

|   | Cash and due from banks:  The carrying amount of cash and due from banks represents the fair value.                                                                                                    |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | Investments in certificates of deposit:  The fair value of investments in certificates of deposit is estimated based on discounted cash flows using current market interest rates.                     |
|   | Federal Home Loan Bank stock:  The fair value of this untraded stock is estimated at its carrying value because the Company is able to redeem the stock with the Federal Home Loan Bank at par value.  |
|   | Loans held for sale:  Fair values are based on quoted market prices of similar loans sold on the secondary market.                                                                                          |

----

|   | Loans:  For variable-rate loans that reprice frequently and have experienced no significant change in credit risk, fair values are based on carrying values.  Fair values for all other loans are estimated basedon discounted cash flows, using interest rates currently being offered for loans with similar terms to borrowers with similar credit quality.                                                   |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | Deposits:  Fair values disclosed for demand, NOW, savings and money market savings deposits equal their carrying amounts, which represent the amount payable on demand.  Fair values for certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregate expected monthly maturities on time deposits.  |
|   | Borrowed funds:  The fair value of borrowed funds is estimated based on discounted cash flows using currently available borrowing rates.                                                                                                                                                                                                                                                                                             |
|   | Accrued interest receivable and payable:  The fair values of both accrued interest receivable and payable are their carrying amounts.                                                                                                                                                                                                                                                                                                |
|   | Commitments to extend credit:  The fair values of commitments to extend credit are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and creditworthiness of the counterparties.  At September 30, 2010 and December 31, 2009 the carrying amount and fair value of the commitments were not significant.                                             |

|                                                                 |   |               |        |   |              |   |        |     |   |   |          |   |
|----------------------------------------------------------------------|--------|--------------------|-------------|--------|-------------------|--------|-------------|----------|--------|--------|---------------|--------|
|                                                                 |   | September 30, 2010 |        |   | December 31, 2009 |   |
|                                                                 |   | Carrying           |        |   | Fair              |   |        | Carrying |   |   | Fair          |   |
|                                                                 |   | Amount             |        |   | Value             |   |        | Amount   |   |   | Value         |   |
|                                                                 |   |               |        |   | (nearest 000)     |   |        |     |   |   | (nearest 000) |   |
| Financial assets:                                                    |   |               |        |   |              |   |        |     |   |   |          |   |
|      Cash and due from banks                |   | $                  | 26,297,796  |   |              | $      | 26,298,000  |     |   | $      | 21,766,170    |   |   | $ | 21,766,000 |   |
|      Investments in certificates of deposit |   |               | 14,280,000  |   |              |   | 14,284,000  |     |   |   | -             |   |   |   | - |   |
|      Securities available-for-sale          |   |               | 42,399,500  |   |              |   | 42,400,000  |     |   |   | 23,175,201    |   |   |   | 23,175,000 |   |
|      FHLB stock                             |   |               | 3,380,300   |   |              |   | 3,380,000   |     |   |   | 3,924,700     |   |   |   | 3,925,000 |   |
|      Loans, net                             |   |               | 336,987,565 |   |              |   | 345,211,000 |     |   |   | 374,854,993   |   |   |   | 384,950,000 |   |
|      Loans held for sale                    |   |               | 769,188     |   |              |   | 769,000     |     |   |   | 1,333,933     |   |   |   | 1,334,000 |   |
|      Accrued interest receivable            |   |               | 1,753,282   |   |              |   | 1,753,000   |     |   |   | 1,867,970     |   |   |   | 1,868,000 |   |
| Financial liabilities:                                               |   |               |        |   |              |   |        |     |   |   |          |   |   |   |   |   |
|      Deposits                               |   |               | 349,147,741 |   |              |   | 353,033,000 |     |   |   | 334,813,060   |   |   |   | 338,105,000 |   |
|      Borrowed funds                         |   |               | 53,750,000  |   |              |   | 56,025,000  |     |   |   | 66,500,000    |   |   |   | 69,132,000 |   |
|      Accrued interest payable               |   |               | 227,263     |   |              |   | 227,000     |     |   |   | 330,804       |   |   |   | 331,000 |   |

----

|                              |   |                                  |        |   |                                 |   |      |   |   |   |        |   |        |       |        |   |   |   |
|-----------------------------------|--------|---------------------------------------|-------------|--------|--------------------------------------|--------|-----------|--------|--------|--------|-------------|--------|-------------|------------|-------------|--------|--------|--------|
|                              |   | Three Months Ended September 30, 2010 |        |   | Nine Months Ended September 30, 2010 |   |
|                              |   | Traditional                           |        |   |                                 |   |      |   |   |   | Traditional |   |        |       |        |   |   |   |
|                              |   | Banking                               |        |   | All Others                           |   |      | Total  |   |   | Banking     |   |        | All Others |        |   | Total  |   |
|                              |   |                                  |        |   |                                 |   |      |   |   |   |        |   |        |       |        |   |   |   |
| Interest income                   |   | $                                     | 5,476,474   |   |                                 | $      | -         |   |   | $      | 5,476,474   |   |        | $          | 16,858,095  |   |   | $      | - |   |   | $ | 16,858,095 |   |
| Interest expense                  |   |                                  | 1,914,529   |   |                                 |   | 27,770    |   |   |   | 1,942,299   |   |        |       | 5,844,982   |   |   |   | 83,876 |   |   |   | 5,928,858 |   |
| Net interest income (loss)        |   |                                  | 3,561,945   |   |                                 |   | (27,770   | )      |   |   | 3,534,175   |   |        |       | 11,013,113  |   |   |   | (83,876 | ) |   |   | 10,929,237 |   |
| Provision for loan losses         |   |                                  | 168,000     |   |                                 |   | -         |   |   |   | 168,000     |   |        |       | 2,578,000   |   |   |   | - |   |   |   | 2,578,000 |   |
| Net interest income (loss) after  |   |                                  |        |   |                                 |   |      |   |   |   |        |   |        |       |        |   |   |   |   |   |   |   |   |   |
| provision for loan losses         |   |                                  | 3,393,945   |   |                                 |   | (27,770   | )      |   |   | 3,366,175   |   |        |       | 8,435,113   |   |   |   | (83,876 | ) |   |   | 8,351,237 |   |
| Noninterest income                |   |                                  | 1,787,587   |   |                                 |   | 410,481   |   |   |   | 2,198,068   |   |        |       | 4,462,737   |   |   |   | 1,274,235 |   |   |   | 5,736,972 |   |
| Securities gains, net             |   |                                  | -           |   |                                 |   | -         |   |   |   | -           |   |        |       | 7,652       |   |   |   | - |   |   |   | 7,652 |   |
| Noninterest expense               |   |                                  | 3,499,150   |   |                                 |   | 388,221   |   |   |   | 3,887,371   |   |        |       | 10,601,520  |   |   |   | 1,241,777 |   |   |   | 11,843,297 |   |
| Income (loss) before income taxes |   |                                  | 1,682,382   |   |                                 |   | (5,510    | )      |   |   | 1,676,872   |   |        |       | 2,303,982   |   |   |   | (51,418 | ) |   |   | 2,252,564 |   |
| Provision for income taxes        |   |                                  | 503,400     |   |                                 |   | 8,500     |   |   |   | 511,900     |   |        |       | 583,700     |   |   |   | 4,300 |   |   |   | 588,000 |   |
| Net income (loss)                 |   | $                                     | 1,178,982   |   |                                 | $      | (14,010   | )      |   | $      | 1,164,972   |   |        | $          | 1,720,282   |   |   | $      | (55,718 | ) |   | $ | 1,664,564 |   |
| Inter-segment revenue (expense)   |   | $                                     | 172,138     |   |                                 | $      | (172,138  | )      |   | $      | -           |   |        | $          | 525,334     |   |   | $      | (525,334 | ) |   | $ | - |   |
| Total assets                      |   | $                                     | 451,792,043 |   |                                 | $      | 3,582,560 |   |   | $      | 455,374,603 |   |        | $          | 451,792,043 |   |   | $      | 3,582,560 |   |   | $ | 455,374,603 |   |
| Total deposits                    |   | $                                     | 349,147,741 |   |                                 | $      | -         |   |   | $      | 349,147,741 |   |        | $          | 349,147,741 |   |   | $      | - |   |   | $ | 349,147,741 |   |
|                              |   |                                  |        |   |                                 |   |      |   |   |   |        |   |        |       |        |   |   |   |   |   |   |   |   |   |
|                              |   | Three Months Ended September 30, 2009 |        |   | Nine Months Ended September 30, 2009 |   |
|                              |   | Traditional                           |        |   |                                 |   |      |   |   |   |        |   | Traditional |       |        |   |   |   |   |   |   |   |
|                              |   | Banking                               |        |   | All Others                           |   |      | Total  |   |   | Banking     |   |        | All Others |        |   | Total  |   |
|                              |   |                                  |        |   |                                 |   |      |   |   |   |        |   |        |       |        |   |   |   |   |   |   |   |   |   |
| Interest income                   |   | $                                     | 6,157,609   |   |                                 | $      | -         |   |   | $      | 6,157,609   |   |        | $          | 18,910,130  |   |   | $      | - |   |   | $ | 18,910,130 |   |
| Interest expense                  |   |                                  | 2,376,922   |   |                                 |   | 28,810    |   |   | $      | 2,405,732   |   |        |       | 8,061,643   |   |   |   | 87,166 |   |   |   | 5,743,077 |   |
| Net interest income (loss)        |   |                                  | 3,780,687   |   |                                 |   | (28,810   | )      |   |   | 3,751,877   |   |        |       | 10,848,487  |   |   |   | (87,166 | ) |   |   | 10,761,321 |   |
| Provision for loan losses         |   |                                  | 450,000     |   |                                 |   | -         |   |   |   | 450,000     |   |        |       | 1,220,000   |   |   |   | - |   |   |   | 1,220,000 |   |
| Net interest income (loss) after  |   |                                  |        |   |                                 |   |      |   |   |   |        |   |        |       |        |   |   |   |   |   |   |   |   |   |
| provision for loan losses         |   |                                  | 3,330,687   |   |                                 |   | (28,810   | )      |   |   | 3,301,877   |   |        |       | 9,628,487   |   |   |   | (87,166 | ) |   |   | 9,541,321 |   |
| Noninterest income                |   |                                  | 1,548,469   |   |                                 |   | 514,555   |   |   |   | 2,063,024   |   |        |       | 4,801,387   |   |   |   | 1,642,926 |   |   |   | 6,444,313 |   |
| Securities gains (losses), net    |   |                                  | 5,540       |   |                                 |   | -         |   |   |   | 5,540       |   |        |       | (37,747     | )      |   |   | - |   |   |   | (37,747 | ) |
| Noninterest expense               |   |                                  | 3,391,860   |   |                                 |   | 463,704   |   |   |   | 3,855,564   |   |        |       | 10,492,892  |   |   |   | 1,453,658 |   |   |   | 11,946,550 |   |
| Income before taxes               |   |                                  | 1,492,836   |   |                                 |   | 22,041    |   |   |   | 1,514,877   |   |        |       | 3,899,235   |   |   |   | 102,102 |   |   |   | 4,001,337 |   |
| Provision for income taxes        |   |                                  | 493,200     |   |                                 |   | 19,900    |   |   |   | 513,100     |   |        |       | 1,245,400   |   |   |   | 78,100 |   |   |   | 1,323,500 |   |
| Net income                        |   | $                                     | 999,636     |   |                                 | $      | 2,141     |   |   | $      | 1,001,777   |   |        | $          | 2,653,835   |   |   | $      | 24,002 |   |   | $ | 2,677,837 |   |
| Inter-segment revenue (expense)   |   | $                                     | 221,023     |   |                                 | $      | (221,023  | )      |   | $      | -           |   |        | $          | 663,986     |   |   | $      | (663,986 | ) |   | $ | - |   |
| Total assets                      |   | $                                     | 449,451,351 |   |                                 | $      | 3,804,499 |   |   | $      | 453,255,850 |   |        | $          | 449,451,351 |   |   | $      | 3,804,499 |   |   | $ | 453,255,850 |   |
| Total deposits                    |   | $                                     | 328,751,602 |   |                                 | $      | -         |   |   | $      | 328,751,602 |   |        | $          | 328,751,602 |   |   | $      | - |   |   | $ | 328,751,602 |   |

----

|   | • | During 2010, the economy began to show signs of recovery, as evidenced by an increase in consumer spending and stabilization of the labor market, the housing sector, and financial markets.  However, unemployment levels remained elevated, real estate values remained depressed and demand for housing was weak, due to distressed sales and tightened lending standards.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | • | Loans amounted to $345.4 million and $383.4 million as of September 30, 2010 and December 31, 2009, respectively.  The loan portfolio decreased 9.89% during the nine months ended September 30, 2010.  The decline in the loan portfolio is primarily due to the decrease in loan volume due to a weakening of demand for new loans as payments and repayments exceeded originations in most loan categories and the Company’s curtailment of out of state lending during this period.  An increase in volume of residential mortgage refinancing activity from current borrowers, due to record low longer term mortgage interest rates, also contributed to the decrease in the loan portfolio as borrowers refinanced into longer term fixed rate mortgage loans which the Company generally sells on the secondary market.  Future opportunities for out of state lending for commercial real estate and multifamily real estate may be considered by the Company on a limited basis.  |
|   | • | Non-performing loans increased $683,000 from $14.3 million at December 31, 2009 to $15.0 million at September 30, 2010.  The balance of non-performing loans continues to remain at historically high levels due to the continued elevated level of unemployment coupled with the decline in real estate values, particularly in some of the states in which we have purchased loans.  The Bank recorded a provision for loan losses of $168,000 during the third quarter of 2010 and an aggregate of $2.6 million for the nine months ended September 30, 2010, due to increases in certain factors in our general valuation allowance model and specific impairments, both primarily related to nonresidential commercial real estate and land and land development loans.                                                                                                                                                                                                                                          |
|   | • | The Company has taken significant steps to reduce the risk of additional loan losses.  Specifically, a senior credit administration position was added in late 2009 to actively manage and monitor asset quality and problem loans.  The Company continues to monitor its loan portfolio with the objective of minimizing defaults or write-downs.  Despite these actions, the possibility of additional losses in loans and losses in the value of real estate owned can not be eliminated.  The Board of Directors and all employees continue to work hard to make the best of these continuing challenging conditions.                                                                                                                                                                                                                                                                                                                                                                         |
|   | • | Interest-bearing demand deposits increased $24.6 million for the nine months ended September 30, 2010, primarily as a result of the Company’s promotion of F1Rst Perks, a new transaction account product offering.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|   | • | Capital remains strong, with stockholders’ equity as a percentage of total assets increasing to 10.97% at September 30, 2010 from 10.61% at December 31, 2009.  The Bank continues to be considered “well capitalized” under regulatory capital requirements with a total risk based capital ratio of 16.5% at September 30, 2010.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|   | • | The Company has taken steps to increase liquidity with the investment of funds in securities available for sale and investments in certificates of deposit.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |

----

----

|                                                     |   |                   |   |   |         |   |
|----------------------------------------------------------|--------|------------------------|--------|--------|--------------|--------|
|                                                     |   | September 30,          |   |   | December 31, |   |
|                                                     |   | 2010                   |   |   | 2009         |   |
|                                                     |   | (Dollars in thousands) |   |
|                                                     |   |                   |   |   |         |   |
| First mortgage loans:                                    |   |                   |   |   |         |   |
| One- to four-family residential                          |   | $                      | 3,198  |   |         | $      | 4,323 |   |
| Multifamily and commercial properties                    |   |                   | 11,028 |   |         |   | 9,033 |   |
| Consumer loans                                           |   |                   | 806    |   |         |   | 993 |   |
|      Total nonaccrual loans     |   |                   | 15,032 |   |         |   | 14,349 |   |
|                                                     |   |                   |   |   |         |   |   |   |
| 90 days past due loans (still                            |   |                   |   |   |         |   |   |   |
|    accruing interest)                     |   |                   | -      |   |         |   | - |   |
| Other nonperforming loans                                |   |                   | -      |   |         |   | - |   |
|      Total nonperforming loans  |   |                   | 15,032 |   |         |   | 14,349 |   |
|                                                     |   |                   |   |   |         |   |   |   |
| Total foreclosed real estate                             |   |                   | 3,689  |   |         |   | 1,709 |   |
| Other nonperforming assets                               |   |                   | -      |   |         |   | 42 |   |
|      Total nonperforming assets |   | $                      | 18,721 |   |         | $      | 16,100 |   |
|                                                     |   |                   |   |   |         |   |   |   |
| Total nonaccrual loans to net loans receivable           |   |                   | 4.46   | %      |         |   | 3.83 | % |
| Total nonaccrual loans to total assets                   |   |                   | 3.30   | %      |         |   | 3.15 | % |
| Total nonperforming assets to total assets               |   |                   | 4.11   | %      |         |   | 3.54 | % |

|                                             |   |                   |   |   |              |   |   |   |   |   |   |   |   |         |   |   |   |   |
|--------------------------------------------------|--------|------------------------|--------|--------|-------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------------|--------|--------|--------|--------|
|                                             |   | September 30, 2010     |   |   | December 31, 2009 |   |
|                                             |   | Iowa                   |   |   | Out of State      |   |   | Total  |   |   | Iowa   |   |   | Out of State |   |   | Total  |   |
|                                             |   | (Dollars in thousands) |   |
| One-to-four family mortgage loans:               |   |                   |   |   |              |   |   |   |   |   |   |   |   |         |   |   |   |   |
| Loans 60 to 89 days delinquent                   |   | $                      | 1,730  |   |              | $      | -      |   |   | $      | 1,730  |   |   | $            | 1,555  |   |   | $      | - |   |   | $ | 1,555 |   |
| Loans 90 days or more delinquent                 |   |                   | 3,160  |   |              |   | -      |   |   |   | 3,160  |   |   |         | 2,823  |   |   |   | 1,500 |   |   |   | 4,323 |   |
| Multifamily and commercial first mortgage loans: |   |                   |   |   |              |   |   |   |   |   |   |   |   |         |   |   |   |   |   |   |   |   |   |   |
| Loans 60 to 89 days delinquent                   |   |                   | -      |   |              |   | 490    |   |   |   | 490    |   |   |         | -      |   |   |   | - |   |   |   | - |   |
| Loans 90 days or more delinquent                 |   |                   | 520    |   |              |   | 8,324  |   |   |   | 8,844  |   |   |         | 5,873  |   |   |   | 3,160 |   |   |   | 9,033 |   |
| Consumer loans:                                  |   |                   |   |   |              |   |   |   |   |   |   |   |   |         |   |   |   |   |   |   |   |   |   |   |
| Loans 60 to 89 days delinquent                   |   |                   | 86     |   |              |   | -      |   |   |   | 86     |   |   |         | 292    |   |   |   | - |   |   |   | 292 |   |
| Loans 90 days or more delinquent                 |   |                   | 806    |   |              |   | -      |   |   |   | 806    |   |   |         | 993    |   |   |   | - |   |   |   | 993 |   |

----

|                                                                          |   |                   |   |   |              |   |
|-------------------------------------------------------------------------------|--------|------------------------|--------|--------|-------------------|--------|
|                                                                          |   | September 30, 2010     |   |   | December 31, 2009 |   |
|                                                                          |   | (Dollars in thousands) |   |
|                                                                          |   |                   |   |   |              |   |
| Substandard assets                                                            |   | $                      | 26,604 |   |              | $      | 21,224 |   |
| Doubtful assets                                                               |   |                   | 3,680  |   |              |   | 3,029 |   |
| Loss assets                                                                   |   |                   | -      |   |              |   | 129 |   |
|          Total classified assets |   | $                      | 30,284 |   |              | $      | 24,382 |   |

----

|                                                                                                                              |   | Three Months Ended September 30, |        |   | Nine Months Ended September 30, |   |
|-----------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|-------------|--------|---------------------------------|--------|
|                                                                                                                              |   | 2010                             |        |   | 2009                            |   |   | 2010 |   |   | 2009 |   |
| Net income                                                                                                                        |   | $                                | 1,164,972   |   |                            | $      | 1,001,777 |   |   | $ | 1,664,564 |   |   | $ | 2,677,837 |   |
|                                                                                                                              |   |                             |        |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| Average assets                                                                                                                    |   |                             | 459,220,298 |   |                            |   | 454,626,835 |   |   |   | 457,264,518 |   |   |   | 466,262,878 |   |
| Average stockholders equity                                                                                                       |   |                             | 49,249,927  |   |                            |   | 47,616,182 |   |   |   | 48,956,687 |   |   |   | 46,481,104 |   |
|                                                                                                                              |   |                             |        |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| Return on assets                                                                                                                  |   |                             | 1.01        | %      |                            |   | 0.88 | % |   |   | 0.49 | % |   |   | 0.77 | % |
|                                                                                                                              |   |                             |        |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| Return on equity                                                                                                                  |   |                             | 9.46        | %      |                            |   | 8.42 | % |   |   | 4.53 | % |   |   | 7.68 | % |
|                                                                                                                              |   |                             |        |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| Efficiency ratio                                                                                                                  |   |                             | 67.82       | %      |                            |   | 66.22 | % |   |   | 71.06 | % |   |   | 70.42 | % |
|                                                                                                                              |   |                             |        |   |                            |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                              |   |                             |        |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| Definitions of ratios:                                                                                                            |   |                             |        |   |                            |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                              |   |                             |        |   |                            |   |   |   |   |   |   |   |   |   |   |   |
|     Return on assets - annualized net income divided by average assets.                                       |   |                             |        |   |                            |   |   |   |   |
|     Return on equity - annualized net income divided by average stockholders equity.                          |   |                             |        |   |                            |
|     Efficiency ratio - noninterest expense divided by the sum of noninterest income plus net interest income. |   |

----

|                                         |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |
|----------------------------------------------|--------|------------------------------------------|-------------|--------|-----------------|--------|------------|---------------------------|--------|--------|------------------------|--------|--------|-----------------|-------------|--------|---------------------------|--------|
|                                         |   | For the Three Months Ended September 30, |        |
|                                         |   | 2010                                     |        |   | 2009            |   |
|                                         |   | Average Balance                          |        |   | Interest        |   |       | Average Yield/Rate        |   |   | Average Balance        |   |   | Interest        |        |   | Average Yield/Rate        |   |
| Assets:                                      |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |
| Interest-earning assets:                     |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |
| Loans                                        |   | $                                        | 353,016,079 |   |            | $      | 5,141,320  |                      |   |   | 5.80                   | %      |   | $               | 393,574,174 |   |                      | $      | 5,878,253 |   |   |   | 5.94 | % |
| Securities available-for-sale                |   |                                     | 43,673,555  |   |            |   | 277,478    |                      |   |   | 2.54                   | %      |   |            | 30,350,837  |   |                      |   | 278,328 |   |   |   | 3.67 | % |
| Investments in certificates of deposit       |   |                                     | 13,855,079  |   |            |   | 47,427     |                      |   |   | 1.37                   | %      |   |            | -           |   |                      |   | - |   |   |   | 0.00 | % |
| Interest-bearing cash                        |   |                                     | 18,690,576  |   |            |   | 10,249     |                      |   |   | 0.22                   | %      |   |            | 2,256,241   |   |                      |   | 1,028 |   |   |   | 0.18 | % |
| Total interest-earning assets                |   |                                     | 429,235,289 |   |            |   | 5,476,474  |                      |   |   | 5.04                   | %      |   |            | 426,181,252 |   |                      |   | 6,157,609 |   |   |   | 5.75 | % |
| Noninterest-earning assets                   |   |                                     | 29,985,009  |   |            |   |       |                      |   |   |                   |   |   |            | 28,445,583  |   |                      |   |   |   |   |   |   |   |
| Total assets                                 |   | $                                        | 459,220,298 |   |            |   |       |                      |   |   |                   |   |   | $               | 454,626,835 |   |                      |   |   |   |   |   |   |   |
|                                         |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
| Liabilities and Equity:                      |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
| Interest-bearing liabilities:                |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
| Demand and money market savings              |   | $                                        | 136,633,563 |   |            | $      | 270,415    |                      |   |   | 0.79                   | %      |   | $               | 96,197,168  |   |                      | $      | 102,516 |   |   |   | 0.42 | % |
| Savings                                      |   |                                     | 30,378,618  |   |            |   | 12,214     |                      |   |   | 0.16                   | %      |   |            | 29,270,643  |   |                      |   | 13,051 |   |   |   | 0.18 | % |
| Certificates of Deposit                      |   |                                     | 165,400,775 |   |            |   | 1,061,771  |                      |   |   | 2.55                   | %      |   |            | 184,351,601 |   |                      |   | 1,431,681 |   |   |   | 3.08 | % |
| Borrowed funds                               |   |                                     | 54,704,301  |   |            |   | 597,899    |                      |   |   | 4.34                   | %      |   |            | 74,751,576  |   |                      |   | 858,484 |   |   |   | 4.56 | % |
| Total interest-bearing liabilities           |   |                                     | 387,117,257 |   |            |   | 1,942,299  |                      |   |   | 1.99                   | %      |   |            | 384,570,988 |   |                      |   | 2,405,732 |   |   |   | 2.48 | % |
| Noninterest-bearing liabilities              |   |                                     | 22,853,114  |   |            |   |       |                      |   |   |                   |   |   |            | 22,439,665  |   |                      |   |   |   |   |   |   |   |
| Total liabilities                            |   |                                     | 409,970,371 |   |            |   |       |                      |   |   |                   |   |   |            | 407,010,653 |   |                      |   |   |   |   |   |   |   |
| Equity                                       |   |                                     | 49,249,927  |   |            |   |       |                      |   |   |                   |   |   |            | 47,616,182  |   |                      |   |   |   |   |   |   |   |
| Total liabilities and equity                 |   | $                                        | 459,220,298 |   |            |   |       |                      |   |   |                   |   |   | $               | 454,626,835 |   |                      |   |   |   |   |   |   |   |
|                                         |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
|                                         |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
| Net interest income                          |   |                                     |        |   |            | $      | 3,534,175  |                      |   |   |                   |   |   |            |        |   |                      |   | 3,751,877 |   |   |   |   |   |
|                                         |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
| Net interest rate spread                     |   |                                     |        |   |            |   |       |                      |   |   | 3.05                   | %      |   |            |        |   |                      |   |   |   |   |   | 3.27 | % |
| Net interest margin                          |   |                                     |        |   |            |   |       |                      |   |   | 3.26                   | %      |   |            |        |   |                      |   |   |   |   |   | 3.51 | % |
|                                         |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
| Ratio of average interest-earnings assets to |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
| average interest-bearing liabilities         |   |                                     |        |   |            |   |       |                      |   |   | 110.88                 | %      |   |            |        |   |                      |   |   |   |   |   | 110.82 | % |
|                                         |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
|                                         |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
|                                         |   | For the Nine Months Ended September 30,  |        |
|                                         |   | 2010                                     |        | 2009   |
|                                         |   |   Average Balance                   |        |   |   Interest |   |       |   Average Yield/Rate |   |   |   Average Balance |   |   |   Interest |        |   |   Average Yield/Rate |   |
| Assets:                                      |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
| Interest-earning assets:                     |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
| Loans                                        |   | $                                        | 364,346,611 |   |            | $      | 15,988,721 |                      |   |   | 5.85                   | %      |   | $               | 397,062,355 |   |                      | $      | 18,063,597 |   |   |   | 6.07 | % |
| Securities available-for-sale                |   |                                     | 35,761,476  |   |            |   | 753,531    |                      |   |   | 2.81                   | %      |   |            | 29,491,626  |   |                      |   | 834,535 |   |   |   | 3.77 | % |
| Investments in certificates of deposit       |   |                                     | 8,077,388   |   |            |   | 84,714     |                      |   |   | 1.40                   | %      |   |            | -           |   |                      |   | - |   |   |   | 0.00 | % |
| Interest-bearing cash                        |   |                                     | 19,405,024  |   |            |   | 31,129     |                      |   |   | 0.21                   | %      |   |            | 9,143,607   |   |                      |   | 11,998 |   |   |   | 0.18 | % |
| Total interest-earning assets                |   |                                     | 427,590,499 |   |            |   | 16,858,095 |                      |   |   | 5.26                   | %      |   |            | 435,697,588 |   |                      |   | 18,910,130 |   |   |   | 5.79 | % |
| Noninterest-earning assets                   |   |                                     | 29,674,019  |   |            |   |       |                      |   |   |                   |   |   |            | 30,565,290  |   |                      |   |   |   |   |   |   |   |
| Total assets                                 |   | $                                        | 457,264,518 |   |            |   |       |                      |   |   |                   |   |   | $               | 466,262,878 |   |                      |   |   |   |   |   |   |   |
|                                         |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
| Liabilities and Equity:                      |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
| Interest-bearing liabilities:                |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
| Demand and money market savings              |   | $                                        | 126,609,624 |   |            | $      | 680,146    |                      |   |   | 0.72                   | %      |   | $               | 96,193,724  |   |                      | $      | 351,034 |   |   |   | 0.49 | % |
| Savings                                      |   |                                     | 30,361,994  |   |            |   | 42,658     |                      |   |   | 0.19                   | %      |   |            | 28,402,468  |   |                      |   | 41,472 |   |   |   | 0.20 | % |
| Certificates of Deposit                      |   |                                     | 170,609,619 |   |            |   | 3,306,562  |                      |   |   | 2.59                   | %      |   |            | 197,044,223 |   |                      |   | 5,010,538 |   |   |   | 3.40 | % |
| Borrowed funds                               |   |                                     | 58,029,770  |   |            |   | 1,899,492  |                      |   |   | 4.38                   | %      |   |            | 75,948,164  |   |                      |   | 2,745,765 |   |   |   | 4.83 | % |
| Total interest-bearing liabilities           |   |                                     | 385,611,007 |   |            |   | 5,928,858  |                      |   |   | 2.06                   | %      |   |            | 397,588,579 |   |                      |   | 8,148,809 |   |   |   | 2.74 | % |
| Noninterest-bearing liabilities              |   |                                     | 22,696,824  |   |            |   |       |                      |   |   |                   |   |   |            | 22,193,195  |   |                      |   |   |   |   |   |   |   |
| Total liabilities                            |   |                                     | 408,307,831 |   |            |   |       |                      |   |   |                   |   |   |            | 419,781,774 |   |                      |   |   |   |   |   |   |   |
| Equity                                       |   |                                     | 48,956,687  |   |            |   |       |                      |   |   |                   |   |   |            | 46,481,104  |   |                      |   |   |   |   |   |   |   |
| Total liabilities and equity                 |   | $                                        | 457,264,518 |   |            |   |       |                      |   |   |                   |   |   | $               | 466,262,878 |   |                      |   |   |   |   |   |   |   |
|                                         |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
|                                         |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
| Net interest income                          |   |                                     |        |   |            | $      | 10,929,237 |                      |   |   |                   |   |   |            |        |   |                      | $      | 10,761,321 |   |   |   |   |   |
|                                         |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
| Net interest rate spread                     |   |                                     |        |   |            |   |       |                      |   |   | 3.20                   | %      |   |            |        |   |                      |   |   |   |   |   | 3.05 | % |
| Net interest margin                          |   |                                     |        |   |            |   |       |                      |   |   | 3.40                   | %      |   |            |        |   |                      |   |   |   |   |   | 3.29 | % |
|                                         |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
| Ratio of average interest-earnings assets to |   |                                     |        |   |            |   |       |                      |   |   |                   |   |   |            |        |   |                      |   |   |   |   |   |   |   |
| average interest-bearing liabilities         |   |                                     |        |   |            |   |       |                      |   |   | 110.89                 | %      |   |            |        |   |                      |   |   |   |   |   | 109.59 | % |

----

|                                |   |                             |      |   |                            |   |      |   |   |   |     |   |   |   |   |   |   |   |      |   |   |   |      |   |
|-------------------------------------|--------|----------------------------------|-----------|--------|---------------------------------|--------|-----------|--------|--------|--------|----------|--------|--------|--------|--------|--------|--------|--------|-----------|--------|--------|--------|-----------|--------|
|                                |   | Three Months Ended September 30, |      |   | Nine Months Ended September 30, |   |
|                                |   | 2010                             |      |   | 2009                            |   |      | Change |   |   | Change % |   |   | 2010   |   |   | 2009   |   |      | Change |   |   | Change %  |   |
| Noninterest income:                 |   |                             |      |   |                            |   |      |   |   |   |     |   |   |   |   |   |   |   |      |   |   |   |      |   |
| Fees and service charges            |   | $                                | 1,266,139 |   |                            | $      | 1,278,573 |   |   | $      | (12,434  | )      |   |   | -1.0   | %      |   | $      | 3,559,002 |   |   | $      | 3,534,723 |   |   | $ | 24,279 |   |   |   | 0.7 | % |
| Abstract fees                       |   |                             | 175,187   |   |                            |   | 223,456   |   |   |   | (48,269  | )      |   |   | -21.6  | %      |   |   | 481,871   |   |   |   | 722,947   |   |   |   | (241,076 | ) |   |   | -33.3 | % |
| Mortgage banking income             |   |                             | 350,701   |   |                            |   | 177,131   |   |   |   | 173,570  |   |   |   | 98.0   | %      |   |   | 591,656   |   |   |   | 823,868   |   |   |   | (232,212 | ) |   |   | -28.2 | % |
| Loan prepayment fees                |   |                             | 2,273     |   |                            |   | 30,715    |   |   |   | (28,442  | )      |   |   | -92.6  | %      |   |   | 29,477    |   |   |   | 242,881   |   |   |   | (213,404 | ) |   |   | -87.9 | % |
| Other income:                       |   |                             |      |   |                            |   |      |   |   |   |     |   |   |   |   |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |
| Increase in CSV - BOLI              |   |                             | 62,610    |   |                            |   | 64,146    |   |   |   | (1,536   | )      |   |   | -2.4   | %      |   |   | 183,564   |   |   |   | 187,867   |   |   |   | (4,303 | ) |   |   | -2.3 | % |
| Investment and Insurance sales      |   |                             | 137,274   |   |                            |   | 199,143   |   |   |   | (61,869  | )      |   |   | -31.1  | %      |   |   | 484,691   |   |   |   | 626,683   |   |   |   | (141,992 | ) |   |   | -22.7 | % |
| Foreclosed real estate net earnings |   |                             | (34,799   | )      |                            |   | (39,099   | )      |   |   | 4,300    |   |   |   | -11.0  | %      |   |   | (87,456   | )      |   |   | (64,385   | )      |   |   | (23,071 | ) |   |   | 35.8 | % |
| Rental income                       |   |                             | 121,308   |   |                            |   | 125,734   |   |   |   | (4,426   | )      |   |   | -3.5   | %      |   |   | 363,907   |   |   |   | 360,194   |   |   |   | 3,713 |   |   |   | 1.0 | % |
| All other                           |   |                             | 117,375   |   |                            |   | 3,225     |   |   |   | 114,150  |   |   |   | 3539.5 | %      |   |   | 130,261   |   |   |   | 9,535     |   |   |   | 120,726 |   |   |   | 1266.1 | % |
| Total other income                  |   | $                                | 403,768   |   |                            | $      | 353,149   |   |   | $      | 50,619   |   |   |   | 14.3   | %      |   | $      | 1,074,966 |   |   | $      | 1,119,894 |   |   | $ | (44,928 | ) |   |   | -4.0 | % |
|                                |   |                             |      |   |                            |   |      |   |   |   |     |   |   |   |   |   |   |   |      |   |   |   |      |   |   |   |   |   |   |   |   |   |
| Total noninterest income            |   | $                                | 2,198,068 |   |                            | $      | 2,063,024 |   |   | $      | 135,044  |   |   |   | 6.5    | %      |   | $      | 5,736,972 |   |   | $      | 6,444,313 |   |   | $ | (707,341 | ) |   |   | -11.0 | % |

|                               |   |                             |      |   |                            |   |      |   |   |   |     |   |   |   |   |   |   |   |       |   |   |   |       |   |
|------------------------------------|--------|----------------------------------|-----------|--------|---------------------------------|--------|-----------|--------|--------|--------|----------|--------|--------|--------|--------|--------|--------|--------|------------|--------|--------|--------|------------|--------|
|                               |   | Three Months Ended September 30, |      |   | Nine Months Ended September 30, |   |
|                               |   | 2010                             |      |   | 2009                            |   |      | Change |   |   | Change % |   |   | 2010   |   |   | 2009   |   |       | Change |   |   | Change %   |   |
|                               |   |                             |      |   |                            |   |      |   |   |   |     |   |   |   |   |   |   |   |       |   |   |   |       |   |
| Compensation and employee benefits |   | $                                | 1,928,708 |   |                            | $      | 1,856,575 |   |   | $      | 72,133   |   |   |   | 3.9    | %      |   | $      | 5,698,440  |   |   | $      | 5,568,730  |   |   | $ | 129,710 |   |   |   | 2.3 | % |
| Premises and equipment             |   |                             | 460,204   |   |                            |   | 464,459   |   |   |   | (4,255   | )      |   |   | -0.9   | %      |   |   | 1,445,629  |   |   |   | 1,393,290  |   |   |   | 52,339 |   |   |   | 3.8 | % |
| Data processing                    |   |                             | 217,465   |   |                            |   | 185,959   |   |   |   | 31,506   |   |   |   | 16.9   | %      |   |   | 660,445    |   |   |   | 594,371    |   |   |   | 66,074 |   |   |   | 11.1 | % |
| FDIC insurance expense             |   |                             | 135,248   |   |                            |   | 143,544   |   |   |   | (8,296   | )      |   |   | -5.8   | %      |   |   | 419,078    |   |   |   | 615,948    |   |   |   | (196,870 | ) |   |   | -32.0 | % |
| REO Impairment                     |   |                             | 7,147     |   |                            |   | 34,500    |   |   |   | (27,353  | )      |   |   | -79.3  | %      |   |   | 323,605    |   |   |   | 118,963    |   |   |   | 204,642 |   |   |   | 172.0 | % |
| Other expense:                     |   |                             |      |   |                            |   |      |   |   |   |     |   |   |   |   |   |   |   |       |   |   |   |       |   |   |   |   |   |   |   |   |   |
| Advertising and promotions         |   |                             | 93,863    |   |                            |   | 139,317   |   |   |   | (45,454  | )      |   |   | -32.6  | %      |   |   | 252,148    |   |   |   | 374,998    |   |   |   | (122,850 | ) |   |   | -32.8 | % |
| Professional fees                  |   |                             | 142,612   |   |                            |   | 209,049   |   |   |   | (66,437  | )      |   |   | -31.8  | %      |   |   | 440,219    |   |   |   | 624,854    |   |   |   | (184,635 | ) |   |   | -29.5 | % |
| Printing, postage, and supplies    |   |                             | 109,189   |   |                            |   | 106,542   |   |   |   | 2,647    |   |   |   | 2.5    | %      |   |   | 327,859    |   |   |   | 329,296    |   |   |   | (1,437 | ) |   |   | -0.4 | % |
| Checking account charges           |   |                             | 84,788    |   |                            |   | 96,362    |   |   |   | (11,574  | )      |   |   | -12.0  | %      |   |   | 253,038    |   |   |   | 283,284    |   |   |   | (30,246 | ) |   |   | -10.7 | % |
| Insurance                          |   |                             | 42,092    |   |                            |   | 40,741    |   |   |   | 1,351    |   |   |   | 3.3    | %      |   |   | 127,594    |   |   |   | 123,949    |   |   |   | 3,645 |   |   |   | 2.9 | % |
| OTS general assessment             |   |                             | 34,290    |   |                            |   | 35,255    |   |   |   | (965     | )      |   |   | -2.7   | %      |   |   | 97,951     |   |   |   | 99,760     |   |   |   | (1,809 | ) |   |   | -1.8 | % |
| Telephone                          |   |                             | 36,615    |   |                            |   | 35,284    |   |   |   | 1,331    |   |   |   | 3.8    | %      |   |   | 111,595    |   |   |   | 110,775    |   |   |   | 820 |   |   |   | 0.7 | % |
| Apartment operating costs          |   |                             | 89,265    |   |                            |   | 87,680    |   |   |   | 1,585    |   |   |   | 1.8    | %      |   |   | 263,334    |   |   |   | 259,124    |   |   |   | 4,210 |   |   |   | 1.6 | % |
| Employee costs                     |   |                             | 44,956    |   |                            |   | 39,799    |   |   |   | 5,157    |   |   |   | 13.0   | %      |   |   | 159,275    |   |   |   | 132,362    |   |   |   | 26,913 |   |   |   | 20.3 | % |
| ATM expense                        |   |                             | 163,024   |   |                            |   | 145,171   |   |   |   | 17,853   |   |   |   | 12.3   | %      |   |   | 471,859    |   |   |   | 434,145    |   |   |   | 37,714 |   |   |   | 8.7 | % |
| All other                          |   |                             | 297,905   |   |                            |   | 235,327   |   |   |   | 62,578   |   |   |   | 26.6   | %      |   |   | 791,228    |   |   |   | 882,701    |   |   |   | (91,473 | ) |   |   | -10.4 | % |
| Total other expense                |   | $                                | 1,138,599 |   |                            | $      | 1,170,527 |   |   | $      | (31,928  | )      |   |   | -2.7   | %      |   | $      | 3,296,100  |   |   | $      | 3,655,248  |   |   | $ | (359,148 | ) |   |   | -9.8 | % |
|                               |   |                             |      |   |                            |   |      |   |   |   |     |   |   |   |   |   |   |   |       |   |   |   |       |   |   |   |   |   |   |   |   |   |
| Total noninterest expense          |   | $                                | 3,887,371 |   |                            | $      | 3,855,564 |   |   | $      | 59,160   |   |   |   | 1.5    | %      |   | $      | 11,843,297 |   |   | $      | 11,946,550 |   |   | $ | (103,253 | ) |   |   | -0.9 | % |

----

|                                                                     |   |    |   |   |              |   |   |              |   |   |                    |   |   | To Be Well-Capitalized |   |
|--------------------------------------------------------------------------|--------|---------|--------|--------|-------------------|--------|--------|-------------------|--------|--------|-------------------------|--------|--------|------------------------|--------|
|                                                                     |   |    |   |   |              |   |   | For Capital       |   |   | Under Prompt Corrective |   |
|                                                                     |   | Actual  |   |   | Adequacy Purposes |   |   | Action Provisions |   |
|                                                                     |   | Amount  |   |   | Ratio             |   |   | Amount            |   |   | Ratio                   |   |   | Amount                 |   |   | Ratio |   |
|                                                                     |   | (000's) |   |   |              |   |   | (000's)           |   |   |                    |   |   | (000's)                |   |   |   |   |
| As of September 30, 2010:                                                |   |    |   |   |              |   |   |              |   |   |                    |   |   |                   |   |   |   |   |
|      Total Capital (to risk-weighted assets)    |   | $       | 49,961 |   |              |   | 16.5   | %                 |   | $      | 24,249                  |   |   |                   | 8.0    | % |   | $ | 30,311 |   |   |   | 10.0 | % |
|      Tier I Capital (to risk-weighted assets)   |   |    | 46,207 |   |              |   | 15.2   |              |   |   | 12,124                  |   |   |                   | 4.0    |   |   |   | 18,187 |   |   |   | 6.0 |   |
|      Tier I (Core) Capital (to adjusted assets) |   |    | 46,207 |   |              |   | 10.2   |              |   |   | 18,186                  |   |   |                   | 4.0    |   |   |   | 22,733 |   |   |   | 5.0 |   |
|      Tangible Capital (to adjusted assets)      |   |    | 46,207 |   |              |   | 10.2   |              |   |   | 6,820                   |   |   |                   | 1.5    |   |   |   | - |   |   |   | - |   |
|                                                                     |   |    |   |   |              |   |   |              |   |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |
| As of December 31, 2009:                                                 |   |    |   |   |              |   |   |              |   |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |
|      Total Capital (to risk-weighted assets)    |   | $       | 48,429 |   |              |   | 14.9   | %                 |   | $      | 26,080                  |   |   |                   | 8.0    | % |   | $ | 32,600 |   |   |   | 10.0 | % |
|      Tier I Capital (to risk-weighted assets)   |   |    | 44,450 |   |              |   | 13.6   |              |   |   | 13,040                  |   |   |                   | 4.0    |   |   |   | 19,560 |   |   |   | 6.0 |   |
|      Tier I (Core) Capital (to adjusted assets) |   |    | 44,450 |   |              |   | 9.8    |              |   |   | 13,636                  |   |   |                   | 3.0    |   |   |   | 22,727 |   |   |   | 5.0 |   |
|      Tangible Capital (to adjusted assets)      |   |    | 44,450 |   |              |   | 9.8    |              |   |   | 6,818                   |   |   |                   | 1.5    |   |   |   | - |   |   |   | - |   |

----

----

|  Exhibit No. |  Description                                                                            |  Reference No. |
|-------------------|----------------------------------------------------------------------------------------------|---------------------|
| 3.1               | Articles of Incorporation of North Central Bancshares, Inc.                                  | (1)                 |
| 3.2               | Bylaws of North Central Bancshares, Inc., as amended                                         | (2)                 |
| 3.3               | Articles of Amendment to the Articles of Incorporation establishing Series A Preferred Stock | (3)                 |
| 31.1              | Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer                            | *                   |
| 31.2              | Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer                            | *                   |
| 32.1              | Section 1350 Certification of Chief Executive Officer                                        | *                   |
| 32.2              | Section 1350 Certificate of Chief Financial Officer                                          | *                   |

| * | Filed herewith |
|---|----------------|

| (1) | Incorporated herein by reference to the Quarterly Report on Form 10-Q filed with the SEC on August 12, 2009. |
|-----|--------------------------------------------------------------------------------------------------------------|

| (2) | Incorporated herein by reference to the Annual Report on Form 10-K filed with the SEC on March 29, 2004. |
|-----|----------------------------------------------------------------------------------------------------------|

| (3) | Incorporated herein by reference to the Current Report on Form 8-K filed with the SEC on January 7, 2009. |
|-----|-----------------------------------------------------------------------------------------------------------|

----

|   | SIGNATURES |
|--------|------------|

| Date: November 4, 2010 | BY:          /s/ David M. Bradley |
|------------------------|-------------------------------------------------------------------------------------|
|                   | David M. Bradley, Chairman, President & CEO                                     |

| Date: November 4, 2010 | BY:          /s/ Jane M. Funk                                 |
|------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                   | Jane M. Funk, Chief Financial Officer and Treasurer                                                                                                                                                                                                                             |

----