```
UNITED STATES  SECURITIES AND EXCHANGE COMMISSIONWASHINGTON, DC  20549
```

| FROM:   |   | TO:   |   |   |
|-------------------|--------|-----------------|--------|--------|

|   | South      Carolina                                                      | 57-0858504                                  |
|--------|--------------------------------------------------------------------------|---------------------------------------------|
|   | (State      or other jurisdiction of incorporation      or organization) | (IRS      Employer Identification      No.) |

| YES    | X |   | NO    |   |   |
|-----------------------|---|--------|----------------------|--------|--------|

|  Large      accelerated filed     [  ]      |   | Accelerated      filer                        [  ] |
|-------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------|
| Non-accelerated      filer        [  ] |   | Smaller reporting      company[X]                                                                                                                      |

| YES    |          |    |           NO | X |   |
|-----------------------|--------------------|--------------|----------------------------------|---|--------|

|   | CLASS:                                            |   | OUTSTANDING      SHARES AT: |   | SHARES:   |   |
|--------|---------------------------------------------------|--------|-----------------------------|--------|-----------|--------|
|   | Common      Stock, par value      $0.01 per share |   | January      31, 2010       |   | 2,461,095 |   |

----

|          |                                                                                                                   |   |          |
|---------------|------------------------------------------------------------------------------------------------------------------------|--------|---------------|
| PART      I.  | FINANCIAL      INFORMATION (UNAUDITED)                                                                                 |   | PAGE      NO. |
|          |                                                                                                                   |   |          |
| Item      1.  | Financial      Statements (Unaudited):                                                                                 |   |          |
|          |                                                                                                                   |   |          |
|          | Consolidated      Balance Sheets at December 31, 2009 and March 31, 2009                                               |   | 1             |
|          |                                                                                                                   |   |          |
|          | Consolidated      Statements of Income for the Three and Nine Months Ended December      31,      2009 and 2008        |   | 2             |
|          |                                                                                                                   |   |          |
|          | Consolidated      Statements of Shareholders’ Equity and Comprehensive Income at      December 31, 2009 and 2008 |   | 4             |
|          |                                                                                                                   |   |          |
|          | Consolidated      Statements of Cash Flows for the Nine Months Ended December 31,      2009      and 2008              |   | 5             |
|          |                                                                                                                   |   |          |
|          | Notes      to Consolidated Financial Statements                                                                        |   | 7             |
|          |                                                                                                                   |   |          |
| Item      2.  | Management’s      Discussion and Analysis of Financial Condition and Results of      Operations                  |   | 23            |
|          |                                                                                                                   |   |          |
| Item      3.  | Quantitative      and Qualitative Disclosures about Market Risk                                                        |   | 39            |
|          |                                                                                                                   |   |          |
| Item      4T. | Controls      and Procedures                                                                                           |   | 39            |
|          |                                                                                                                   |   |          |
| PART      II. | OTHER      INFORMATION                                                                                                 |   |          |
|          |                                                                                                                   |   |          |
| Item      1.  | Legal      Proceedings                                                                                                 |   | 39            |
|          |                                                                                                                   |   |          |
| Item      1A. | Risk      Factors                                                                                                      |   | 40            |
|          |                                                                                                                   |   |          |
| Item      2.  | Unregistered      Sales of Equity Securities and Use of Proceeds                                                       |   | 43            |
|          |                                                                                                                   |   |          |
| Item      3.  | Defaults      Upon Senior Securities                                                                                   |   | 43            |
|          |                                                                                                                   |   |          |
| Item      4.  | Submission      of Matters to Vote of Security Holders                                                                 |   | 43            |
|          |                                                                                                                   |   |          |
| Item      5.  | Other      Information                                                                                                 |   | 43            |
|          |                                                                                                                   |   |          |
| Item      6.  | Exhibits                                                                                                               |   | 44            |
|          |                                                                                                                   |   |          |
|          | Signatures                                                                                                             |   | 45            |
|          |                                                                                                                   |   |          |

----

|                                                                                                                                                                                                                                                                                                                                                                                    |   | December      31, 2009             |   | March      31, 2009                                                               |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------|--------|-----------------------------------------------------------------------------------|
| Assets:                                                                                                                                                                                                                                                                                                                                                                                 |   | (Unaudited)                        |   | (Audited)                                                                         |
| Cash      And Cash Equivalents                                                                                                                                                                                                                                                                                                                                                          | $      | 9,999,440                          | $      | 6,562,394                                                                         |
| Investment      And Mortgage-Backed Securities:                                                                                                                                                                                                                                                                                                                                         |   |                               |   |                                                                              |
| Available      For Sale:  (Amortized cost of $291,527,310      at December 31, 2009      and          $276,687,428 at      March 31, 2009)                                                                                                                                                                                                 |   |  298,559,096                  |   |  282,832,735                                                                 |
| Held      To Maturity:  (Fair value of $22,074,370 at December 31, 2009 and      $32,492,407 at                                               March 31, 2009)         |   |  20,925,353                   |   |  31,265,866                                                                  |
| Total      Investment And Mortgage-Backed Securities                                                                                                                                                                                                                                                                                                                                    |   | 319,484,449                        |   | 314,098,601                                                                       |
| Loans      Receivable, Net:                                                                                                                                                                                                                                                                                                                                                             |   |                               |   |                                                                              |
| Held      For Sale                                                                                                                                                                                                                                                                                                                                                                      |   | 5,157,852                          |   | 5,711,807                                                                         |
| Held      For Investment:  (Net      of allowance of      $13,964,779 at      December 31, 2009 and                                              $10,181,599 at March 31, 2009) |   |  584,447,112                  |   |  605,378,066                                                                 |
| Total      Loans Receivable, Net                                                                                                                                                                                                                                                                                                                                                        |   | 589,604,964                        |   | 611,089,873                                                                       |
| Accrued      Interest Receivable:                                                                                                                                                                                                                                                                                                                                                       |   |                               |   |                                                                              |
| Loans                                                                                                                                                                                                                                                                                                                                                                                   |   | 1,994,077                          |   | 2,011,967                                                                         |
| Mortgage-Backed      Securities                                                                                                                                                                                                                                                                                                                                                         |   | 1,002,808                          |   | 1,138,911                                                                         |
| Investments                                                                                                                                                                                                                                                                                                                                                                             |   | 828,445                            |   | 363,707                                                                           |
| Premises      And Equipment, Net                                                                                                                                                                                                                                                                                                                                                        |   |     20,997,475 |   | 21,675,434                                                                        |
| Federal      Home Loan Bank Stock, At Cost                                                                                                                                                                                                                                                                                                                                              |   | 12,624,400                         |   | 12,662,700                                                                        |
| Bank      Owned Life Insurance                                                                                                                                                                                                                                                                                                                                                          |   | 9,911,305                          |   | 9,641,305                                                                         |
| Repossessed      Assets Acquired In Settlement Of Loans                                                                                                                                                                                                                                                                                                                                 |   | 3,582,754                          |   |             1,985,172 |
| Intangible      Assets, Net                                                                                                                                                                                                                                                                                                                                                             |   | 272,000                            |   | 352,500                                                                           |
| Goodwill                                                                                                                                                                                                                                                                                                                                                                                |   | 1,199,754                          |   | 1,421,754                                                                         |
| Other      Assets                                                                                                                                                                                                                                                                                                                                                                       |   | 7,993,708                          |   | 1,657,189                                                                         |
| Total      Assets                                                                                                                                                                                                                                                                                                                                                                       | $      | 979,495,579                        | $      | 984,661,507                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                    |   |                               |   |                                                                              |
| Liabilities      And Shareholders’ Equity                                                                                                                                                                                                                                                                                                                                         |   |                               |   |                                                                              |
| Liabilities:                                                                                                                                                                                                                                                                                                                                                                            |   |                               |   |                                                                              |
| Deposit      Accounts                                                                                                                                                                                                                                                                                                                                                                   | $      | 672,763,982                        | $      | 661,713,575                                                                       |
| Advances      From Federal Home Loan Bank (“FHLB”)                                                                                                                                                                                                                                                                                                                          |   | 171,331,548                        |   | 218,998,434                                                                       |
| Term      Auction Facility Advances (“TAF”)                                                                                                                                                                                                                                                                                                                                 |   | 40,000,000                         |   | 10,000,000                                                                        |
| Other      Borrowed Money                                                                                                                                                                                                                                                                                                                                                               |   | 10,394,146                         |   | 16,055,966                                                                        |
| Advance      Payments By Borrowers For Taxes And Insurance                                                                                                                                                                                                                                                                                                                              |   | 193,872                            |   | 421,461                                                                           |
| Mandatorily      Redeemable Financial Instrument                                                                                                                                                                                                                                                                                                                                        |   | 1,709,312                          |   | 1,600,312                                                                         |
| Senior      Convertible Debentures                                                                                                                                                                                                                                                                                                                                                      |   | 6,084,000                          |   | -                                                                                 |
| Junior      Subordinated Debentures                                                                                                                                                                                                                                                                                                                                                     |   | 5,155,000                          |   | 5,155,000                                                                         |
| Other      Liabilities                                                                                                                                                                                                                                                                                                                                                                  |   | 3,925,204                          |   | 3,624,461                                                                         |
| Total      Liabilities                                                                                                                                                                                                                                                                                                                                                                  |   | 911,557,064                        |   | 917,569,209                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                    |   |                               |   |                                                                              |
| Shareholders'      Equity:                                                                                                                                                                                                                                                                                                                                                              |   |                               |   |                                                                              |
| Serial      Preferred Stock, $.01 Par Value; Authorized Shares – 200,000; Issued                  And Outstanding Shares,18,000 At December 31, 2009 And March 31,      2009                                                                                                                                                                        |   |  17,674,000                   |   |  17,620,065                                                                  |
| Common      Stock, $.01 Par Value; Authorized Shares – 5,000,000; Issued And                  Outstanding Shares -2,662,028 And      2,461,095 Respectively, At December        31,      2009; And 2,660,528 And 2,459,595, Respectively, At March 31,      2009                                                 |   |   26,055                 |   |   26,040                                                                |
| Warrants      Issued In Conjunction With Serial Preferred Stock                                                                                                                                                                                                                                                                                                                         |   | 400,000                            |   | 400,000                                                                           |
| Additional      Paid-In Capital                                                                                                                                                                                                                                                                                                                                                         |   | 5,343,863                          |   | 5,299,235                                                                         |
| Treasury      Stock, (At Cost, 200,933 Shares, At December 31, 2009 And At                    March 31, 2009)                                                                                                                                                                                                          |   |  (4,330,712)                  |   |  (4,330,712)                                                                 |
| Accumulated      Other Comprehensive Income                                                                                                                                                                                                                                                                                                                                             |   | 4,360,831                          |   | 3,809,934                                                                         |
| Retained      Earnings, Substantially Restricted                                                                                                                                                                                                                                                                                                                                        |   | 44,464,478                         |   | 44,267,736                                                                        |
| Total      Shareholders' Equity                                                                                                                                                                                                                                                                                                                                                         |   | 67,938,515                         |   | 67,092,298                                                                        |
| Total      Liabilities And Shareholders' Equity                                                                                                                                                                                                                                                                                                                                         | $      | 979,495,579                        | $      | 984,661,507                                                                       |

----

|                                                                       |   | Three      Months Ended December 31,                                                                                     |
|----------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------|
|                                                                       |   | 2009                                                                                                                     |   | 2008 |
| Interest      Income:                                                      |   |                                                                                                                     |   |   |
| Loans                                                                      | $      | 8,899,817                                                                                                                | $ | 8,999,835 |
| Mortgage-Backed      Securities                                            |   | 2,789,088                                                                                                                |   | 2,558,840 |
| Investment      Securities                                                 |   | 555,733                                                                                                                  |   | 694,633 |
| Other                                                                      |   | 46                                                                                                                       |   | 729 |
| Total      Interest Income                                                 |   | 12,244,684                                                                                                               |   | 12,254,037 |
|                                                                       |   |                                                                                                                     |   |   |
| Interest      Expense:                                                     |   |                                                                                                                     |   |   |
| NOW      And Money Market Accounts                                         |   | 637,225                                                                                                                  |   | 1,115,271 |
| Statement      Savings Accounts                                            |   |                    19,202 |   | 27,033 |
| Certificate      Accounts                                                  |   | 2,342,602                                                                                                                |   | 3,520,046 |
| Advances      And Other Borrowed Money                                     |   | 1,634,734                                                                                                                |   | 2,025,915 |
| Convertible      Senior Debentures                                         |   | 40,560                                                                                                                   |   | - |
| Junior      Subordinated Debentures                                        |   | 58,431                                                                                                                   |   | 74,140 |
| Total      Interest Expense                                                |   | 4,732,754                                                                                                                |   | 6,762,405 |
|                                                                       |   |                                                                                                                     |   |   |
| Net      Interest Income                                                   |   | 7,511,930                                                                                                                |   | 5,491,632 |
| Provision      For Loan Losses                                             |   | 2,475,000                                                                                                                |   | 525,000 |
| Net      Interest Income After Provision For Loan Losses                   |   | 5,036,930                                                                                                                |   | 4,966,632 |
| Non-Interest      Income:                                                  |   |                                                                                                                     |   |   |
| Gain      On Sale Of Investments                                           |   | 300,976                                                                                                                  |   | - |
| Gain      On Sale Of Loans                                                 |   | 215,080                                                                                                                  |   | 107,726 |
| Service      Fees On Deposit Accounts                                      |   | 347,164                                                                                                                  |   | 293,327 |
| Income      From Cash Value Of Life Insurance                              |   | 90,000                                                                                                                   |   | 90,000 |
| Commissions      From Insurance Agency                                     |   | 94,544                                                                                                                   |   | 141,771 |
| Other      Agency Income                                                   |   | 108,302                                                                                                                  |   | 85,633 |
| Trust      Income                                                          |   | 105,000                                                                                                                  |   | 105,000 |
| Other                                                                      |   | 236,120                                                                                                                  |   | 196,893 |
| Total      Non-Interest Income                                             |   | 1,497,186                                                                                                                |   | 1,020,350 |
|                                                                       |   |                                                                                                                     |   |   |
| General      And Administrative Expenses:                                  |   |                                                                                                                     |   |   |
| Salaries      And Employee Benefits                                        |   | 3,007,360                                                                                                                |   | 2,949,973 |
| Occupancy                                                                  |   | 497,423                                                                                                                  |   | 500,193 |
| Advertising                                                                |   | 102,946                                                                                                                  |   | 155,088 |
| Depreciation      And Maintenance Of Equipment                             |   | 433,734                                                                                                                  |   | 380,470 |
| FDIC      Insurance Premiums                                               |   | 366,000                                                                                                                  |   | 201,882 |
| Amortization      of Intangibles                                           |   | 22,500                                                                                                                   |   | 22,500 |
| Mandatorily      Redeemable Financial Instrument Valuation Expense         |   | 65,000                                                                                                                   |   | 45,000 |
| Loss      On Sale Of Repossessed Assets Acquired In Settlement Of    Loans |   | 3,742                                                                                                                    |   | 11,600 |
| Other                                                                      |   | 1,078,312                                                                                                                |   | 977,797 |
| Total      General And Administrative Expenses                             |   | 5,577,017                                                                                                                |   | 5,244,503 |
|                                                                       |   |                                                                                                                     |   |   |
| Income      Before Income Taxes                                            |   | 957,099                                                                                                                  |   | 742,479 |
| Provision      For Income Taxes                                            |   | 395,008                                                                                                                  |   | 252,855 |
| Net      Income                                                            |   | 562,091                                                                                                                  |   | 489,624 |
| Preferred      Stock Dividends                                             |   | 225,000                                                                                                                  |   | 27,500 |
| Accretion      Of Preferred Stock To Redemption Value                      |   | 17,579                                                                                                                   |   | - |
| Net      Income Available To Common Shareholders                           | $      | 319,512                                                                                                                  | $ | 462,124 |
|                                                                       |   |                                                                                                                     |   |   |
| Basic      Net Income Per Common Share                                     | $      | 0.13                                                                                                                     | $ | 0.19 |
| Diluted      Net Income Per Common Share                                   | $      | 0.13                                                                                                                     | $ | 0.18 |
| Cash      Dividend Per Share On Common Stock                               | $      | 0.08                                                                                                                     | $ | 0.08 |
| Basic      Weighted Average Shares Outstanding                             |   | 2,461,095                                                                                                                |   | 2,490,630 |
| Diluted      Weighted Average Shares Outstanding                           |   | 2,543,389                                                                                                                |   | 2,511,910 |

----

|                                                                       |   | Nine      Months Ended December 31, |
|----------------------------------------------------------------------------|--------|-------------------------------------|
|                                                                       |   | 2009                                |   | 2008 |
| Interest      Income:                                                      |   |                                |   |   |
| Loans                                                                      | $      | 26,096,241                          | $ | 26,483,081 |
| Mortgage-Backed      Securities                                            |   | 8,166,348                           |   | 7,575,321 |
| Investment      Securities                                                 |   | 1,818,640                           |   | 2,361,362 |
| Other                                                                      |   | 376                                 |   | 9,806 |
| Total      Interest Income                                                 |   | 36,081,605                          |   | 36,429,570 |
|                                                                       |   |                                |   |   |
| Interest      Expense:                                                     |   |                                |   |   |
| NOW      And Money Market Accounts                                         |   | 1,960,383                           |   | 3,006,058 |
| Statement      Savings Accounts                                            |   | 58,654                              |   | 90,595 |
| Certificate      Accounts                                                  |   | 8,424,088                           |   | 10,752,681 |
| Advances      And Other Borrowed Money                                     |   | 4,970,069                           |   | 6,278,073 |
| Convertible      Senior Debentures                                         |   | 40,560                              |   | - |
| Junior      Subordinated Debentures                                        |   | 182,474                             |   | 223,112 |
| Total      Interest Expense                                                |   | 15,636,228                          |   | 20,350,519 |
|                                                                       |   |                                |   |   |
| Net      Interest Income                                                   |   | 20,445,377                          |   | 16,079,051 |
| Provision      For Loan Losses                                             |   | 5,475,000                           |   | 1,025,000 |
| Net      Interest Income After Provision For Loan Losses                   |   | 14,970,377                          |   | 15,054,051 |
| Non-Interest      Income:                                                  |   |                                |   |   |
| Gain      On Sale Of Investments                                           |   | 675,101                             |   | 126,440 |
| Gain      On Sale Of Loans                                                 |   | 811,545                             |   | 335,444 |
| Service      Fees On Deposit Accounts                                      |   | 935,846                             |   | 850,720 |
| Income      From Cash Value Of Life Insurance                              |   | 270,000                             |   | 268,492 |
| Commissions      From Insurance Agency                                     |   | 341,874                             |   | 474,901 |
| Other      Agency Income                                                   |   | 349,813                             |   | 208,651 |
| Trust      Income                                                          |   | 315,000                             |   | 315,000 |
| Other                                                                      |   | 645,340                             |   | 622,512 |
| Total      Non-Interest Income                                             |   | 4,344,519                           |   | 3,202,160 |
|                                                                       |   |                                |   |   |
| General      And Administrative Expenses:                                  |   |                                |   |   |
| Salaries      And Employee Benefits                                        |   | 8,828,625                           |   | 8,565,480 |
| Occupancy                                                                  |   | 1,490,587                           |   | 1,490,879 |
| Advertising                                                                |   | 318,875                             |   | 402,765 |
| Depreciation      And Maintenance Of Equipment                             |   | 1,316,130                           |   | 1,222,304 |
| FDIC      Insurance Premiums                                               |   | 1,473,000                           |   | 549,227 |
| Amortization      of Intangibles                                           |   | 67,500                              |   | 67,500 |
| Mandatorily      Redeemable Financial Instrument Valuation Expense         |   | 109,000                             |   | 105,000 |
| Loss      On Sale Of Repossessed Assets Acquired In Settlement Of    Loans |   | 64,846                              |   | 18,890 |
| Other                                                                      |   | 3,080,447                           |   | 2,719,836 |
| Total      General And Administrative Expenses                             |   | 16,749,010                          |   | 15,141,881 |
|                                                                       |   |                                |   |   |
| Income      Before Income Taxes                                            |   | 2,565,886                           |   | 3,114,330 |
| Provision      For Income Taxes                                            |   | 1,049,548                           |   | 1,037,963 |
| Net      Income                                                            |   | 1,516,338                           |   | 2,076,367 |
| Preferred      Stock Dividends                                             |   | 675,000                             |   | 27,500 |
| Accretion      Of Preferred Stock To Redemption Value                      |   | 53,935                              |   | - |
| Net      Income Available To Common Shareholders                           | $      | 787,403                             | $ | 2,048,867 |
|                                                                       |   |                                |   |   |
| Basic      Net Income Per Common Share                                     | $      | 0.32                                | $ | 0.81 |
| Diluted      Net Income Per Common Share                                   | $      | 0.31                                | $ | 0.81 |
| Cash      Dividend Per Share On Common Stock                               | $      | 0.24                                | $ | 0.24 |
| Basic      Weighted Average Shares Outstanding                             |   | 2,460,777                           |   | 2,515,579 |
| Diluted      Weighted Average Shares Outstanding                           |   | 2,521,964                           |   | 2,529,702 |

----

|                                                                                                                                                                                                                                          |   |   PreferredStock                                                                                    |   |    Warrants                                          |   |   Common      Stock |   |  AdditionalPaid      – In Capital                              |   |   Treasury Stock                                                                          |               | Accumulated      Other      Comprehensive Income |   |   Retained      Earnings |   |    Total                                            |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------|--------|-------------------------------|--------|--------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------|--------------------|--------------------------------------------------|--------|------------------------------------|--------|--------------------------------------------------------------------|
| Balance      At March 31, 2008                                                                                                                                                                                                                | $      |          -                                             | $      |            - | $      | 25,925                        | $      | 5,072,086                                                                      | $      |  (2,769,446)                                                                              | $                  | 2,395,537                                        | $      | 42,772,311                         | $      |   47,496,413                                             |
| Net      Income                                                                                                                                                                                                                               |   | -                                                                                                             |   | -                                                                   |   | -                             |   | -                                                                              |   |            -                       |               | -                                                |   | 2,076,367                          |   | 2,076,367                                                          |
| Other      Comprehensive Income,   Net      Of Tax:                                                                                                                                                                            |   |                                                                                                          |   |                                                                |   |                          |   |                                                                           |   |                                                                                                     |               |                                             |   |                               |   |                                                               |
| Unrealized      Holding Losses   On      Securities Available   For      Sale, Net Of Taxes                                                                                                                     |   |   -                                                                                                 |   |   -                                                       |   |   -                 |   |   -                                                                  |   |   -                                                                                            |               |    (283,156)                      |   |   -                      |   |   (283,156)                                              |
|        Reclassification      Adjustment         For      Gains Included In Net         Income,      Net Of Taxes |   |   -                                                                                                 |   |   -                                                       |   |   -                 |   |   -                                                                  |   |   -                                                                                            |               |   (78,393)                             |   |   -                      |   |   (78,393)                                               |
|     Comprehensive      Income                                                                                                                                                                                             |   | -                                                                                                             |   | -                                                                   |   | -                             |   | -                                                                              |   |             -                 |               | -                                                |   | -                                  |   | 1,714,818                                                          |
|          Purchase Of Treasury Stock           At Cost, 84,098 shares                                                                                                                                  |   |  -                                                                                                       |   |  -                                                             |   |  -                       |   |  -                                                                        |   |  (1,561,266)                                                                              |               |  -                                          |   |  -                            |   |  (1,561,266)                                                  |
|          Issuance Of Preferred Stock           And Related Warrants                                                                                                                                   |   |    17,600,000                                                                                  |   |  400,000                                                       |   |  -                       |   |  -                                                                        |   |              -           |               |  -                                          |   |  -                            |   |    18,000,000                                       |
|          Employee Stock Purchase Plan    Purchases                                                                                                                                                         |   |  -                                                                                                       |   |  -                                                             |   |  40                      |   |  75,110                                                                   |   |                     -    |               |  -                                          |   |  -                            |   |           75,150 |
|          Exercise Of Stock Options                                                                                                                                                                                             |   | -                                                                                                             |   | -                                                                   |   | 60                            |   | 99,960                                                                         |   |             -                 |     | -                                                |   | -                                  |   |        100,020                  |
|          Stock Compensation Expense                                                                                                                                                                                            |   | -                                                                                                             |   | -                                                                   |   | -                             |   |             24,410 |   | -                                                                                                        |               | -                                                |   | -                                  |   |         24,410             |
| Cash      Dividends- Common                                                                                                                                                                                                                   |   |                        - |   |                 - |   | -                             |   | -                                                                              |   |             -                                                              |               | -                                                |   | (601,115)                          |   | (601,115)                                                          |
| Balance      At December 31, 2008                                                                                                                                                                                                             | $      | 17,600,000                                                                                                    | $      | 400,000                                                             | $      |  26,025                  | $      | 5,271,566                                                                      | $      | (4,330,712)                                                                                    | $                  | 2,033,988                                        | $      | 44,247,563                         | $      | 65,248,430                                                         |

|                                                                                                                        |   |   Preferred      Stock |   |    Warrants |   |   Common      Stock |   |  AdditionalPaid      – In Capital |   |   TreasuryStock                                                                               |   | Accumulated      Other Comprehensive Income |   |   Retained      Earnings |   |    Total |
|-----------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|--------|----------------------------|--------|-------------------------------|--------|---------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------|--------|---------------------------------------------|--------|------------------------------------|--------|-------------------------|
| Balance      At March 31, 2009                                                                                              | $      | 17,620,065                       | $      | 400,000                    | $      | 26,040                        | $      | 5,299,235                                         | $      | (4,330,712)                                                                                             | $      | 3,809,934                                   | $      | 44,267,736                         | $      | 67,092,298              |
| Net      Income                                                                                                             |   | -                                |   | -                          |   | -                             |   | -                                                 |   |          -                                                 |   | -                                           |   | 1,516,338                          |   | 1,516,338               |
| Other      Comprehensive Income,   Net      Of Tax:                                                          |   |                             |   |                       |   |                          |   |                                              |   |                                                                                                    |   |                                        |   |                               |   |                    |
| Unrealized      Holding Gains   On      Securities Available   For      Sale, Net Of Taxes    |   |   -                    |   |   -              |   |   -                 |   |   -                                     |   |            -                                     |   |   969,460                         |   |   -                      |   |   969,460     |
| Reclassification      Adjustment   For      Gains Included In Net   Income,      Net Of Taxes |   |   -                    |   |   -              |   |   -                 |   |   -                                     |   |                  - |   |   (418,563)                       |   |   -                      |   |   (418,563)   |
| Comprehensive      Income                                                                                                   |   | -                                |   | -                          |   | -                             |   | -                                                 |   |            -                                     |   | -                                           |   | -                                  |   | 2,067,235               |
|          Accretion Of Preferred Stock To Redemption Value                                                    |   |  53,935                     |   |   -              |   |  -                       |   |  -                                           |   |           -                                           |   |  -                                     |   |  (53,935)                     |   |  -                 |
|     Employee      Stock Purchase Plan Purchases                                                         |   |  -                          |   |  -                    |   |  15                      |   |  19,785                                      |   |           -                                           |   |  -                                     |   |  -                            |   |  19,800            |
| Stock      Compensation Expense                                                                                             |   | -                                |   | -                          |   | -                             |   | 24,843                                            |   |          -                                                 |   | -                                           |   | -                                  |   | 24,843                  |
| Cash      Dividends On Preferred                                                                                            |   | -                                |   | -                          |   | -                             |   | -                                                 |   |          -                                                 |   | -                                           |   | (675,000)                          |   | (675,000)               |
| Cash      Dividends On Common                                                                                               |   | -                                |   | -                          |   | -                             |   | -                                                 |   |          -                                                 |   | -                                           |   | (590,661)                          |   | (590,661)               |
| Balance      At December 31, 2009                                                                                           | $      | 17,674,000                       | $      | 400,000                    | $      | 26,055                        | $      | 5,343,863                                         | $      | (4,330,712)                                                                                             | $      | 4,360,831                                   | $      | 44,464,478                         | $      | 67,938,515              |

----

|   |                                                                                               |   |        Nine      Months Ended December 31,                                                        |
|--------|----------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------|
|   |                                                                                               |   | 2009                                                                                                   |   | 2008 |
|   | Cash      Flows From Operating Activities:                                                         |   |                                                                                                   |   |   |
|   | Net      Income                                                                                    | $      | 1,516,338                                                                                              | $ | 2,076,367 |
|   | Adjustments      To Reconcile Net Income To Net Cash Provided By Operating Activities:             |   |                                                                                                   |   |   |
|   |        Depreciation Expense                                                                   |   | 1,164,294                                                                                              |   | 1,116,801 |
|   |        Amortization Of Intangible Assets                                                      |   | 67,500                                                                                                 |   | 67,500 |
|   |        Stock Option Compensation Expense                                                      |   | 24,843                                                                                                 |   | 24,410 |
|   |        Discount Accretion And Premium Amortization                                            |   | 1,326,548                                                                                              |   | 273,331 |
|   |        Provisions For Losses On Loans And Real Estate                                         |   | 5,475,000                                                                                              |   | 1,025,000 |
|   |        Write Down Of Goodwill                                                                 |   | 222,000                                                                                                |   | - |
|   |        Mandatorily Redeemable Financial Instrument Valuation    Expense                       |   | 109,000                                                                                                |   | 105,000 |
|   |        Gain On Sale Of Mortgage-Backed Securities Available For    Sale                       |   | (273,330)                                                                                              |   | - |
|   |        Gain On Sale Of Investment Securities Available For Sale                               |   | (401,771)                                                                                              |   | (126,440) |
|   |        Gain On Sale Of Loans                                                                  |   | (811,545)                                                                                              |   | (335,444) |
|   |        Loss On Sale Of Repossessed Assets Acquired In Settlement Of      Loans                |   |                 64,846 |   | 18,890 |
|   |        (Gain) Loss On Disposition Of Premises And Equipment                                   |   | (25)                                                                                                   |   | 61 |
|   |        Amortization Of Deferred Fees On Loans                                                 |   | (96,392)                                                                                               |   | (81,819) |
|   |        Proceeds From Sale Of Loans Held For Sale                                              |   |          54,823,727                                       |   | 26,912,369 |
|   |   Origination      Of Loans For Sale                                                     |   | (53,458,227)                                                                                           |   | (27,191,255) |
|   |   (Increase)      Decrease In Accrued Interest Receivable:                               |   |                                                                                                   |   |   |
|   |         Loans                                                                            |   | 17,890                                                                                                 |   | 49,774 |
|   |         Mortgage-Backed Securities                                                       |   | 136,103                                                                                                |   | (119,822) |
|   |         Investments                                                                      |   | (464,738)                                                                                              |   | 179,462 |
|   |         Decrease In Advance Payments By Borrowers                                        |   | (227,589)                                                                                              |   | (302,943) |
|   |         Other, Net                                                                       |   | (6,628,358)                                                                                            |   | (253,198) |
|   | Net      Cash Provided By Operating Activities                                                     |   | 2,586,114                                                                                              |   | 3,438,044 |
|   |                                                                                               |   |                                                                                                   |   |   |
|   | Cash      Flows From Investing Activities:                                                         |   |                                                                                                   |   |   |
|   |          Principal Repayments On Mortgage-Backed Securities Held To      Maturity   |   | 5,981,325                                                                                              |   | 126,754 |
|   |          Principal Repayments On Mortgage-Backed Securities Available For      Sale |   | 49,180,520                                                                                             |   | 32,064,937 |
|   | Purchase      Of Investment Securities Available For Sale                                          |   | (49,800,374)                                                                                           |   | (8,184,620) |
|   | Purchase      Of Mortgage-Backed Securities Available For Sale                                     |   | (58,437,257)                                                                                           |   | (48,075,466) |
|   | Purchase      Of Mortgage-Backed Securities Held To Maturity                                       |   | -                                                                                                      |   | (26,588,294) |
|   | Purchase      Of Investment Securities Held To Maturity                                            |   | -                                                                                                      |   | (1,000,000) |
|   | Maturities      Of Investment Securities Available For Sale                                        |   | 13,490,722                                                                                             |   | 16,677,263 |
|   | Maturities      Of Investment Securities Held To Maturity                                          |   | 4,258,066                                                                                              |   | 12,000,000 |
|   | Proceeds      From Sale Of Mortgage-Backed Securities Available For Sale                           |   | 17,599,784                                                                                             |   | 2,993,520 |
|   | Proceeds      From Sale Of Investment Securities Available For Sale                                |   | 12,576,398                                                                                             |   | 7,135,335 |
|   | Purchase      Of FHLB Stock                                                                        |   | -                                                                                                      |   | (8,284,200) |
|   | Redemption      Of FHLB Stock                                                                      |   | 38,300                                                                                                 |   | 6,237,200 |
|   | Decrease      (Increase) In Loans To Customers                                                     |   | 13,388,374                                                                                             |   | (79,966,426) |
|   | Proceeds      From Sale Of Repossessed Assets                                                      |   | 501,544                                                                                                |   | 367,000 |
|   | Purchase      And Improvement Of Premises And Equipment                                            |   | (487,281)                                                                                              |   | (1,461,534) |
|   |              Proceeds From Sale Of Premises And Equipment       |   | 971                                                                                                    |   | 1,650 |
|   |         Purchase      Of Bank Owned Life Insurance         |   | -                                                                                                      |   | (1,240,492) |
|   | Net      Cash Provided (Used) By Investing Activities                                              |   | 8,291,092                                                                                              |   | (97,197,373) |
|   |                                                                                               |   |                                                                                                   |   |   |
|   |                                                                                               |   |                                                                                                   |   |   |
|   |                                                                                               |   |                                                                                                   |   |   |
|   |                                                                                               |   |                                                                                                   |   |   |
|   |                                                                                               |   |                                                                                                   |   |   |

----

|   |                                                                                                                                                                                                                                                                   |    |        Nine      Months Ended December 31, |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------|-------------------------------------------------|
|   |                                                                                                                                                                                                                                                                   |    | 2009                                            |   | 2008 |
|   | Cash      Flows From Financing Activities:                                                                                                                                                                                                                             |    |                                            |   |   |
|   | Increase      In Deposit Accounts                                                                                                                                                                                                                                      |    | 11,050,407                                      |   | 29,792,773 |
|   | Proceeds      From FHLB Advances                                                                                                                                                                                                                                       |    | 257,705,000                                     |   | 247,900,000 |
|   | Repayment      Of FHLB Advances                                                                                                                                                                                                                                        |    | (305,371,886)                                   |   | (202,411,651) |
|   | Proceeds      From TAF Advances                                                                                                                                                                                                                                        |    | 117,000,000                                     |   | - |
|   | Repayment      Of TAF Advances                                                                                                                                                                                                                                         |    | (87,000,000)                                    |   | - |
|   | Proceeds      From Convertible Senior Debentures Offering                                                                                                                                                                                                              |    | 6,084,000                                       |   | - |
|   | Net      Proceeds (Repayment) Of Other Borrowings                                                                                                                                                                                                                      |    | (5,661,820)                                     |   | 1,632,387 |
|   | Proceeds      From Issuance Of Preferred Stock                                                                                                                                                                                                                         |    | -                                               |   | 18,000,000 |
|   | Dividends      To Preferred Shareholders                                                                                                                                                                                                                               |    | (675,000)                                       |   | - |
|   | Dividends      To Common Shareholders                                                                                                                                                                                                                                  |    | (590,661)                                       |   | (601,115) |
|   | Purchase      Of Treasury Stock                                                                                                                                                                                                                                        |    | -                                               |   | (1,561,266) |
|   | Proceeds      From Employee Stock Purchases                                                                                                                                                                                                                            |    | 19,800                                          |   | 75,150 |
|   | Proceeds      From Exercise of Stock Options                                                                                                                                                                                                                           |    | -                                               |   | 100,020 |
|   | Net      Cash Provided (Used) By Financing Activities                                                                                                                                                                                                                  |    | (7,440,160)                                     |   | 92,926,298 |
|   |                                                                                                                                                                                                                                                                   |    |                                            |   |   |
|   | Net      Increase (Decrease) In Cash And Cash Equivalents                                                                                                                                                                                                              |    | 3,437,046                                       |   | (833,031) |
|   | Cash      And Cash Equivalents At Beginning Of Period                                                                                                                                                                                                                  |    | 6,562,394                                       |   | 10,539,054 |
|   | Cash      And Cash Equivalents At End Of Period                                                                                                                                                                                                                        | $       | 9,999,440                                       | $ | 9,706,023 |
|   |                                                                                                                                                                                                                                                                   |    |                                            |   |   |
|   | Supplemental      Disclosure Of Cash Flows Information:                                                                                                                                                                                                                |    |                                            |   |   |
|   | Cash      Paid During The Period For Interest                                                                                                                                                                                                                          | $       | 15,704,896                                      | $ | 20,635,914 |
|   | Cash      Paid During The Period For Income Taxes                                                                                                                                                                                                                      | $       | 2,513,082                                       | $ | 1,549,900 |
|   | Additions      To Repossessed Acquired Through Foreclosure                                                                                                                                                                                                             | $       | 2,163,972                                       | $ | 247,450 |
|   | Increase      (Decrease) In Unrealized Gain On Securities Available For      Sale,                                 Net Of Taxes |  $ |  969,460                                   |  $ |  (283,156) |
|   |                                                                                                                                                                                                                                                                   |    |                                            |   |   |

----

| 1.   | Basis      of Presentation |
|----------------|----------------------------|

| 2.   | Principles      of Consolidation |
|----------------|----------------------------------|

----

| 3.   | Critical      Accounting Policies, Continued |
|----------------|----------------------------------------------|

| 4.   | Earnings      Per Common Share |
|----------------|--------------------------------|

|   | For      the Quarter Ended:                                                                          |   | December      31,                          |   |
|--------|------------------------------------------------------------------------------------------------------|--------|--------------------------------------------|--------|
|   |                                                                                                 |   | 2009                                       |   | 2008 |   |
|   | Earnings      Available to Common Shareholders:                                                      |   |                                       |   |   |   |
|   |          Net Income                                                                   | $      |   562,091                        | $      | 489,624 |   |
|   | Preferred      Stock Dividends                                                                       |   |      225,000      |   | 27,500 |   |
|   | Deemed      Dividends On Preferred Stock From Net   Accretion      of Preferred Stock |   |       17,579 |   |  - |   |
|   | Net      Income Available To Common Shareholders                                                     | $      |     319,512            | $      | 462,124 |   |

----

|   | For the Nine Months      Ended:                                                                      |   | December      31,                                                  |   |
|--------|------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------|--------|
|   |                                                                                                 |   | 2009                                                               |   | 2008 |   |
|   | Earnings      Available to Common Shareholders:                                                      |   |                                                               |   |   |   |
|   |          Net Income                                                                   | $      |    1,516,338                                        | $      | 2,076,367 |   |
|   | Preferred      Stock Dividends                                                                       |   |     675,000                                    |   | 27,500 |   |
|   | Deemed      Dividends On Preferred Stock From Net   Accretion      of Preferred Stock |   |           53,935 |   |  - |   |
|   | Net      Income Available To Common Shareholders                                                     | $      |      787,403                              | $      | 2,048,867 |   |

|   |                                                                                                | For      the Quarter Ended                                                                                                                                                                                                       |
|--------|-----------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                | December      31, 2009                                                                                                                                                                                                           |
|   |                                                                                                | Income      (Numerator) Amount                                                                                                                                                                                                   |   | Shares      (Denominator) |   | Per      Share |
|   |                                                                                                |                                                                                                                                                                                                                             |   |   |   |   |
|   | Basic      EPS                                                                                      |  $                                   319,512 |   | 2,461,095 | $ | 0.13 |
|   | Effect      of Diluted Securities:                                                                  |                                                                                                                                                                                                                             |   |   |   |   |
|   |     Mandatorily      Redeemable       Shares |  -                                                                                                                                                                                                                          |   |  82,294 |   |  - |
|   |     Senior      Convertible Debentures                                          | -                                                                                                                                                                                                                                |   | - |   | - |
|   | Stock Options &      Warrants                                                                   | -                                                                                                                                                                                                                                |   | - |   | - |
|   | Diluted      EPS                                                                                    | $                                    319,512 |   | 2,543,389 | $ | 0.13 |

|   |                                                                                                | For      the Quarter Ended                                                                                                                                                                                                       |
|--------|-----------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                | December      31, 2008                                                                                                                                                                                                           |
|   |                                                                                                | Income      (Numerator) Amount                                                                                                                                                                                                   |   | Shares      (Denominator) |   | Per      Share |
|   |                                                                                                |                                                                                                                                                                                                                             |   |   |   |   |
|   | Basic      EPS                                                                                      | $                                    462,124 |   | 2,490,630 | $ | 0.19 |
|   | Effect      of Diluted Securities:                                                                  |                                                                                                                                                                                                                             |   |   |   |   |
|   |     Mandatorily      Redeemable       Shares |  -                                                                                                                                                                                                                          |   |                               21,280 |   |  (0.01) |
|   | Stock Options                                                                                       | -                                                                                                                                                                                                                                |   | - |   | - |
|   | Diluted      EPS                                                                                    | $                                    462,124 |   | 2,511,910 | $ | 0.18 |

|   |                                                                                                | For      the Nine Months Ended                                                                                                                                                                                                   |
|--------|-----------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                | December      31, 2009                                                                                                                                                                                                           |
|   |                                                                                                | Income      (Numerator) Amount                                                                                                                                                                                                   |   | Shares      (Denominator) |   | Per      Share |
|   |                                                                                                |                                                                                                                                                                                                                             |   |   |   |   |
|   | Basic      EPS                                                                                      | $                                    787,403 |   | 2,460,777 | $ |            0.32 |
|   | Effect      of Diluted Securities:                                                                  |                                                                                                                                                                                                                             |   |   |   |   |
|   |     Mandatorily      Redeemable       Shares |  -                                                                                                                                                                                                                          |   |  61,187 |   |  (0.01) |
|   |     Senior      Convertible Debentures                                          | -                                                                                                                                                                                                                                |   | - |   | - |
|   | Stock Options &      Warrants                                                                   | -                                                                                                                                                                                                                                |   | - |   | - |
|   | Diluted      EPS                                                                                    | $                                    787,403 |   | 2,521,964 | $ | 0.31 |

----

|   |                                                                                                | For      the Nine Months Ended                                                                                                                                                                                   |
|--------|-----------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                | December      31, 2008                                                                                                                                                                                           |
|   |                                                                                                | Income      (Numerator) Amount                                                                                                                                                                                   |   | Shares      (Denominator) |   | Per      Share |
|   |                                                                                                |                                                                                                                                                                                                             |   |   |   |   |
|   | Basic      EPS                                                                                      | $                                 2,048,867 |   | 2,515,579 | $ |              0.81 |
|   | Effect      of Diluted Securities:                                                                  |                                                                                                                                                                                                             |   |   |   |   |
|   |     Mandatorily      Redeemable       Shares |  -                                                                                                                                                                                                          |   |  14,123 |   |                    - |
|   | Stock Options                                                                                       | -                                                                                                                                                                                                                |   | - |   | - |
|   | Diluted      EPS                                                                                    | $                                 2,048,867 |   | 2,529,702 | $ | 0.81 |

| 5.   | Stock-Based      Compensation |
|----------------|-------------------------------|

|   |                                   | Three      Months EndedDecember      31, 2009 |                                                 | Nine      Months EndedDecember      31, 2009 |
|--------|----------------------------------------|-----------------------------------------------|------------------------------------------------------|----------------------------------------------|
|   |                                   |    Shares                      |  Weighted      Average      Exercise      Price |                                         |    Shares |  Weighted      Average      Exercise      Price |
|   | Balance,      Beginning of Period/Year |  90,900                                  |  $22.57                                         |                                         |  100,500 |  $22.01 |
|   | Options      granted                   | -                                             | -                                                    |                                         | - | - |
|   | Options      exercised                 | -                                             | -                                                    |                                         | - | - |
|   | Options      forfeited                 | -                                             | -                                                    |                                         | (9,600) | 16.67 |
|   | Balance,      December 31, 2009        | 90,900                                        | $22.57                                               |                                         | 90,900 | $22.57 |
|   |                                   |                                          |                                                 |                                         |   |   |
|   | Options      Exercisable               | 50,400                                        |                                                 |                                         | 50,400 |   |
|   |                                   |                                          |                                                 |                                         |   |   |
|   | Options      Available For Grant       | 50,000                                        |                                                 |                                         | 50,000 |   |

|   |                                   | Three      Months EndedDecember      31, 2008 |                                                                                                                                              | Nine      Months EndedDecember      31, 2008 |
|--------|----------------------------------------|-----------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------|
|   |                                   |   Shares                            | Weighted      Average      Exercise      Price                                                                                                    |                                         |   Shares | Weighted      Average      Exercise      Price |
|   | Balance,      Beginning of Period/Year |  100,500                                 |  $22.01                                                                                                                                      |                                         |  111,100 |  $21.55 |
|   | Options      granted                   | -                                             |   -                                                                                                                                     |                                         | 4,500 | 22.91 |
|   | Options      exercised                 | -                                             |                         - |                                         | 6,000 | 16.67 |
|   | Options      forfeited                 | -                                             |                         - |                                         | 9,100 | 20.32 |
|   | Balance,      December 31, 2008        | 100,500                                       | $22.01                                                                                                                                            |                                         | 100,500 | $22.01 |
|   |                                   |                                          |                                                                                                                                              |                                         |   |   |
|   | Options      Exercisable               | 60,000                                        |                                                                                                                                              |                                         | 60,000 |   |
|   | Options      Available For Grant       | 50,000                                        |                                                                                                                                              |                                         | 50,000 |   |

----

|   |                         | For      Awards Granted During The      Three Month Period Ended December      31, |   | For      Awards Granted During The      Nine      Month Period Ended December      31, |
|--------|------------------------------|------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------|
|   |                         | 2009                                                                               |   | 2008                                                                                   |   | 2009 |   | 2008 |
|   | Awards      granted          | -                                                                                  |   | -                                                                                      |   | - |   | 4,500 |
|   | Dividend      Yield          | -                                                                                  |   | -                                                                                      |   | - |   | 1.76-1.79% |
|   | Expected      Volatility     | -                                                                                  |   | -                                                                                      |   | - |   |  17.62      -18.10% |
|   | Risk-free      interest rate | -                                                                                  |   | -                                                                                      |   | - |   | 3.69-3.88% |
|   | Expected      life           | -                                                                                  |   | -                                                                                      |   | - |   | 9.00 |

|   |  Grant      Date |   | Outstanding      Options |   |  Option      Price |   |  Expiration      Date |
|--------|-----------------------|--------|--------------------------|--------|-------------------------|--------|----------------------------|
|   |                  |   |                     |   |                    |   |                       |
|   | 09/01/03              |   | 2,400                    |   | $24.00                  |   | 08/31/13                   |
|   |                  |   |                     |   |                    |   |                       |
|   | 12/01/03              |   | 3,000                    |   | $23.65                  |   | 11/30/13                   |
|   |                  |   |                     |   |                    |   |                       |
|   | 01/01/04              |   | 5,500                    |   | $24.22                  |   | 12/31/13                   |
|   |                  |   |                     |   |                    |   |                       |
|   | 03/08/04              |   | 13,000                   |   | $21.43                  |   | 03/08/14                   |
|   |                  |   |                     |   |                    |   |                       |
|   | 06/07/04              |   | 2,000                    |   | $24.00                  |   | 06/07/14                   |
|   |                  |   |                     |   |                    |   |                       |
|   | 01/01/05              |   | 20,500                   |   | $20.55                  |   | 12/31/14                   |
|   |                  |   |                     |   |                    |   |                       |
|   | 01/01/06              |   | 4,000                    |   | $23.91                  |   | 01/01/16                   |
|   |                  |   |                     |   |                    |   |                       |
|   | 08/24/06              |   | 14,000                   |   | $23.03                  |   | 08/24/16                   |
|   |                  |   |                     |   |                    |   |                       |
|   | 05/24/07              |   | 2,000                    |   | $24.34                  |   | 05/24/17                   |
|   |                  |   |                     |   |                    |   |                       |
|   | 07/09/07              |   | 1,000                    |   | $24.61                  |   | 07/09/17                   |
|   |                  |   |                     |   |                    |   |                       |
|   | 10/01/07              |   | 2,000                    |   | $24.28                  |   | 10/01/17                   |
|   |                  |   |                     |   |                    |   |                       |
|   | 01/01/08              |   | 17,000                   |   | $23.49                  |   | 01/01/18                   |
|   |                  |   |                     |   |                    |   |                       |
|   | 05/19/08              |   | 2,500                    |   | $22.91                  |   | 05/19/18                   |
|   |                  |   |                     |   |                    |   |                       |
|   | 07/01/08              |   | 2,000                    |   | $22.91                  |   | 07/01/18                   |

----

| 5.   | Stock      Warrants |
|----------------|---------------------|

| For      the Quarter Ended:           | December      31, 2009 | December      31, 2008 |
|---------------------------------------|------------------------|------------------------|
|                                  |  Shares           |                   | Weighted-Average      Exercise      Price |  Shares |   | Weighted-Average      Exercise      Price |
| Balance,      Beginning of the Period | 137,966                | $                      | 19.57 | - | $ | - |
| Granted                               | -                      |                   | - | 137,966 |   | 19.57 |
| Exercised                             | -                      |                   | - | - |   | - |
| Forfeited                             | -                      |                   | - | - |   | - |
| Balance,      End of Period           | 137,966                | $                      | 19.57 | 137,966 | $ | 19.57 |
|                                  |                   |                   |   |   |   |   |

| For      the Nine Months Ended:       | December      31, 2009 | December      31, 2008 |
|---------------------------------------|------------------------|------------------------|
|                                  |  Shares           |                   | Weighted-Average      Exercise      Price |  Shares |   | Weighted-Average      Exercise      Price |
| Balance,      Beginning of the Period | 137,966                | $                      | 19.57 | - | $ | - |
| Granted                               | -                      |                   | - | 137,966 |   | 19.57 |
| Exercised                             | -                      |                   | - | - |   | - |
| Forfeited                             | -                      |                   | - | - |   | - |
| Balance,      End of Period           | 137,966                | $                      | 19.57 | 137,966 | $ | 19.57 |
|                                  |                   |                   |   |   |   |   |

----

| Level      1 | Valuation      is based upon quoted prices (unadjusted) in active markets for identical      assets or liabilities that the Company has the ability to access. Level 1      assets and liabilities include debt and equity securities and derivative      contracts that are traded in an active exchange market, as well as U.S.      Treasuries and money market funds.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|--------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Level      2 | Valuation      is based upon quoted prices for similar assets and liabilities in active      markets, as well as inputs that are observable for the asset or liability      (other than quoted prices), such as interest rates, foreign exchange      rates, and yield curves that are observable at commonly quoted intervals.      Level 2 assets and liabilities include debt securities with quoted prices      that are traded less frequently than exchange-traded instruments,      mortgage-backed securities, municipal bonds, corporate debt securities and      derivative contracts whose value is determined using a pricing model with      inputs that are observable in the market or can be derived principally      from or corroborated by observable market data. This category generally      includes certain derivative contracts and impaired  loans. |
| Level      3 | Valuation      is generated from model-based techniques that use at least one significant      assumption based on unobservable inputs for the asset or liability, which      are typically based on an entity’s own assumptions, as there is little, if      any, related market activity. In instances where the determination of the      fair value measurement is based on inputs from different levels of the      fair value hierarchy, the level in the fair value hierarchy within which      the entire fair value measurement falls is based on the lowest level input      that is significant to the fair value measurement in its entirety. The      assessment of the significance of a particular input to the fair value      measurement in its entirety requires judgment, and considers factors      specific to the asset or liability.            |

----

----

|  Assets:                                                    |                   Level 1 |               Level 2          |               Level 3 | Balance      At December      31, 2009                                                                     |
|------------------------------------------------------------------|---------------------------------------------------------------------------------------|------------------------------------------------------------------------|---------------------------------------------------------------|------------------------------------------------------------------------------------------------------------|
| Investment      Securities Available      For Sale               |  -                                                                               |  $    298,559,096                             |  -                                                       |  $          298,559,096                             |
| Mortgage      Loans Held For Sale                                | -                                                                                     | 5,157,852                                                              | -                                                             | 5,157,852                                                                                                  |
| Total                                                            | -                                                                                     | $     303,716,948                             | -                                                             | $          303,716,948                                   |
| Liabilities:                                                     |                                                                                  |                                                                   |                                                          |                                                                                                       |
| Mandatorily      Redeemable  Financial      Instrument |  -                                                                               |  $         1,709,312 |  -                                                       |  $               1,709,312 |
| Total                                                            | -                                                                                     | $         1,709,312       | -                                                             | $               1,709,312       |

|  Assets:          |                Level 1 |                Level 2                                                                    |                 Level 3 | Balance      At December      31, 2009                                                               |
|------------------------|---------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------|
| Goodwill               | -                                                                   | $                      - | $         1,199,754          | $               1,199,754 |
| Intangible      Assets | -                                                                   | -                                                                                                                                      | 272,000                                                                   | 272,000                                                                                              |
| Impaired      Loans    | -                                                                   | 26,084,436                                                                                                                             | 7,342,558                                                                 | 33,426,994                                                                                           |
| Foreclosed      Assets | -                                                                   | 3,582,754                                                                                                                              | -                                                                         | 3,582,754                                                                                            |
| Total                  | -                                                                   | $      29,667,190                                                                                        | $       8,814,312                      | $             38,481,502            |
|                   |                                                                |                                                                                                                                   |                                                                      |                                                                                                 |

----

----

|   |                                              |   | December      31, 2009                                                     |   | March      31, 2009            |   |
|--------|---------------------------------------------------|--------|----------------------------------------------------------------------------|--------|--------------------------------|--------|
|   |                                              |   | Carrying      Amount                                                       |   | Estimated Fair      Value |   | Carrying      Amount |   | Estimated      Fair      Value |   |
|   |                                              |   |                (In Thousands) |   |
|   | Financial      Assets:                            |   |                                                                       |   |                           |   |   |   |   |   |
|   | Cash      And Cash Equivalents                    | $      | 9,999                                                                      | $      | 9,999                          | $      | 6,562 | $ | 6,562 |   |
|   | Investment      And Mortgage-Back Securities      |   | 319,484                                                                    |   | 320,633                        |   | 314,099 |   | 315,325 |   |
|   | Loans      Receivable, Net                        |   | 589,605                                                                    |   | 587,510                        |   | 611,090 |   | 623,362 |   |
|   | FHLB      Stock                                   |   | 12,624                                                                     |   | 12,624                         |   | 12,663 |   | 12,663 |   |
|   |                                              |   |                                                                       |   |                           |   |   |   |   |   |
|   | Financial      Liabilities:                       |   |                                                                       |   |                           |   |   |   |   |   |
|   | Deposits:                                         |   |                                                                       |   |                           |   |   |   |   |   |
|   | Checking,      Savings, And Money Market Accounts | $      | 293,086                                                                    | $      | 293,086                        | $      | 272,363 | $ | 272,363 |   |
|   | Certificate      Accounts                         |   | 379,678                                                                    |   | 387,498                        |   | 389,351 |   | 395,647 |   |
|   | Advances      From FHLB                           |   | 171,332                                                                    |   | 179,804                        |   | 218,998 |   | 225,852 |   |
|   | Term      Auction Facility Borrowings             |   | 40,000                                                                     |   | 40,000                         |   | 10,000 |   | 10,000 |   |
|   | Other      Borrowed Money                         |   | 10,394                                                                     |   | 10,394                         |   | 16,056 |   | 16,056 |   |
|   | Senior      Convertible Debentures                |   | 6,084                                                                      |   | 6,084                          |   | - |   | - |   |
|   | Junior      Subordinated Debentures               |   | 5,155                                                                      |   | 5,155                          |   | 5,155 |   | 5,155 |   |
|   | Mandatorily      Redeemable Financial Instrument  |   | 1,709                                                                      |   | 1,709                          |   | 1,600 |   | 1,600 |   |

----

----

|   |  December 31, 2009                                                                                                                                                       |   |  Amortized      Cost |   | Gross      Unrealized      Gains |   | Gross      Unrealized      Losses |   |   Fair      Value |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------|--------|----------------------------------|--------|-----------------------------------|--------|-----------------------------|
|   | FHLB      Securities                                                                                                                                                               | $      | 18,717,173                | $      | 200,285                          | $      | 118,862                           | $      | 18,798,596                  |
|   | Federal      Farm Credit Securities                                                                                                                                                |   | 8,522,690                 |   | 27,186                           |   | 40,766                            |   | 8,509,110                   |
|   | Federal      National Mortgage Association   (“FNMA”)      And Federal Home Loan   Mortgage      Corporation (“FHLMC”) Bonds |   |   4,997,912     |   |   -                    |   |   80,242                |   |   4,917,670       |
|   | Small      Business Administration (“SBA”) Bonds                                                                                                                       |   | 22,685,921                |   | 136,787                          |   | 189,779                           |   | 22,632,929                  |
|   | Taxable      Municipal Bonds                                                                                                                                                       |   | 5,248,597                 |   | 13,655                           |   | 27,787                            |   | 5,234,465                   |
|   | Mortgage-Backed      Securities                                                                                                                                                    |   | 231,252,079               |   | 7,573,965                        |   | 420,618                           |   | 238,405,426                 |
|   | Equity      Securities                                                                                                                                                             |   | 102,938                   |   | -                                |   | 42,038                            |   | 60,900                      |
|   | Total                                                                                                                                                                              | $      | 291,527,310               | $      | 7,951,878                        | $      | 920,092                           | $      | 298,559,096                 |

|   |                                |   |                            |
|--------|-------------------------------------|--------|---------------------------------|
|   |   March 31, 2009     |   |   Amortized      Cost |   |  Gross      Unrealized      Gains |   |  Gross      Unrealized      Losses |   |    Fair      value |
|   | FHLB      Securities                | $      | 15,401,116                      | $ | 428,886 | $ | 18,450 | $ | 15,811,552 |
|   | Federal      Farm Credit Securities |   | 14,521,626                      |   | 121,699 |   | 8,855 |   | 14,634,470 |
|   |    FNMA      Bonds   |   | 2,000,000                       |   | 7,810 |   | - |   | 2,007,810 |
|   | SBA      Bonds                      |   | 3,319,651                       |   | 65,119 |   | 18,201 |   | 3,366,569 |
|   | Taxable      Municipal Bond         |   | 1,019,781                       |   | 26,818 |   | - |   | 1,046,599 |
|   | Mortgage-Backed      Securities     |   | 240,322,316                     |   | 5,718,587 |   | 112,668 |   | 245,928,235 |
|   | Equity      Securities              |   | 102,938                         |   | - |   | 65,438 |   | 37,500 |
|   |                                | $      | 276,687,428                     | $ | 6,368,919 | $ | 223,612 | $ | 282,832,735 |
|   |                                |   |                            |   |   |   |   |   |   |

----

|   |                             |   | Amortized      Cost |   | Fair      Value |   |
|--------|----------------------------------|--------|---------------------|--------|-----------------|--------|
|   |                             |   |                |   |            |   |
|   | Less      Than One Year          | $      | 783,465             | $      | 806,316         |   |
|   | One      – Five Years      |   | 2,658,507           |   | 2,709,620       |   |
|   | Over      Five – Ten Years |   | 25,900,263          |   | 25,826,531      |   |
|   | After      Ten Years             |   | 30,932,996          |   | 30,811,203      |   |
|   | Mortgage-Backed      Securities  |   | 231,252,079         |   | 238,405,426     |   |
|   |                             | $      | 291,527,310         | $      | 298,559,096     |   |

|   |                                |   | Less      than 12 Months |         | 12      Months or More |   | Total     |
|--------|-------------------------------------|--------|--------------------------|--------------|------------------------|--------|-----------|
|   |                                |   | FairValue                |         | UnrealizedLosses       |   | FairValue |   | Unrealized      Losses |   | FairValue |   | Unrealized      Losses |
|   | FHLB      Securities                | $      | 8,987,530                | $            | 118,862                | $      | -         | $ | - | $ | 8,987,530 | $ | 118,862 |
|   | Federal      Farm Credit Securities |   | 4,043,450                |         | 40,766                 |   |      |   |   |   | 4,043,450 |   | 40,766 |
|   | Mortgage-Backed      Securities     |   | 30,257,873               |    | 420,618                |   | -         |   | - |    | 30,257,873 |   | 420,618 |
|   | SBA      Bonds                      |   | 11,465,705               |         | 189,779                |   | -         |   | - |   | 11,465,705 |   | 189,779 |
|   | FNMA      Bonds                     |   | 3,917,670                |         | 80,242                 |   | -         |   | - |   | 3,917,670 |   | 80,242 |
|   | Taxable      Municipal Bonds        |   | 3,168,581                |         | 27,787                 |   |      |   |   |   | 3,168,581 |   | 27,787 |
|   | Equity      Securities              |   | -                        |         | -                      |   | 60,900    |   | 42,038 |   | 60,900 |   | 42,038 |
|   |                                | $      | 61,840,809               | $            | 878,054                | $      | 60,900    | $ | 42,038 | $ | 61,901,709 | $ | 920,092 |

----

|  December 31, 2009    |   | Amortized      Cost |       |   | Gross      Unrealized      Gains |   |      | Gross      Unrealized      Losses |   |   |  Fair      Value |   |
|---------------------------------|--------|---------------------|------------|--------|----------------------------------|--------|-----------|-----------------------------------|--------|--------|-----------------------|--------|
| FHLB      Securities            |   | $                   | 4,000,000  |   |                             | $      | 324,070   |                              |   | $      | -                     |   |   | $ | 4,324,070 |   |
| SBA      Bonds                  |   |                | 5,100,665  |   |                             |   | 273,243   |                              |   |   | -                     |   |   |   | 5,373,908 |   |
| Mortgage-Backed      Securities |   |                | 11,669,688 |   |                             |   | 551,704   |                              |   |   | -                     |   |   |   | 12,221,392 |   |
| Equity      Securities          |   |                | 155,000    |   |                             |   | -         |                              |   |   | -                     |   |   |   | 155,000 |   |
| Total                           |   | $                   | 20,925,353 |   |                             | $      | 1,149,017 |                              |   | $      | -                     |   |   | $ | 22,074,370 |   |

|  March 31, 2009           |   | Amortized      Cost |       |   | Gross      Unrealized      Gains |   |      | Gross      Unrealized      Losses |   |   |  Fair      Value |   |
|-------------------------------------|--------|---------------------|------------|--------|----------------------------------|--------|-----------|-----------------------------------|--------|--------|-----------------------|--------|
| FHLB      Securities                |   | $                   | 7,000,000  |   |                             | $      | 371,260   |                              |   | $      | 8,750                 |   |   | $ | 7,362,510 |   |
| Federal      Farm Credit Securities |   |                | 1,000,000  |   |                             |   | 19,060    |                              |   |   | -                     |   |   |   | 1,019,060 |   |
| SBA      Bonds                      |   |                | 5,355,028  |   |                             |   | 336,242   |                              |   |   | -                     |   |   |   | 5,691,270 |   |
| Mortgage-Backed      Securities     |   |                | 17,755,838 |   |                             |   | 508,729   |                              |   |   | -                     |   |   |   | 18,264,567 |   |
| Equity      Securities              |   |                | 155,000    |   |                             |   | -         |                              |   |   | -                     |   |   |   | 155,000 |   |
| Total                               |   | $                   | 31,265,866 |   |                             | $      | 1,235,291 |                              |   | $      | 8,750                 |   |   | $ | 32,492,407 |   |

|                              |   | Amortized      Cost |       |   | Fair      Value |   |
|-----------------------------------|--------|---------------------|------------|--------|-----------------|--------|
|                              |   |                |       |   |            |   |
|  Less      Than One Year     |   | $                   | 1,000,000  |   |            | $      | 1,028,440 |   |
|  One      – Five Years |   |                | 4,369,468  |   |            |   | 4,732,226 |   |
| Over      Five – Ten Years  |   |                | -          |   |            |   | - |   |
| More      Than Ten Years          |   |                | 3,886,197  |   |            |   | 4,092,312 |   |
| Mortgage-Backed      Securities   |   |                | 11,669,688 |   |            |   | 12,221,392 |   |
|                              |   | $                   | 20,925,353 |   |            | $      | 22,074,370 |   |
|                              |   |                |       |   |            |   |   |   |

----

|                                  |   | December      31, 2009 |   | March      31, 2009 |
|---------------------------------------|--------|------------------------|--------|---------------------|
| Residential      Real Estate          | $      | 118,609,716            | $      | 126,980,894         |
| Consumer                              |   | 70,056,961             |   | 69,025,082          |
| Commercial      Business              |   | 19,152,250             |   | 21,032,000          |
| Commercial      Real Estate           |   | 394,482,721            |   | 404,403,186         |
|  Loans      Held For Sale        |   | 5,157,852              |   | 5,711,807           |
|                                  |   | 607,459,500            |   | 627,152,969         |
|                                  |   |                   |   |                |
| Less:                                 |   |                   |   |                |
| Allowance      For Possible Loan Loss |   | 13,964,779             |   | 10,181,599          |
| Loans      In Process                 |   | 3,712,588              |   | 5,602,248           |
| Deferred      Loan Fees               |   | 177,169                |   | 279,249             |
|                                  |   | 17,854,536             |   | 16,063,096          |
|                                  | $      | 589,604,964            | $      | 611,089,873         |

----

| ·          | statements      of our goals, intentions andexpectations; |
|--------------------------------|-----------------------------------------------------------|

| ·          | statements      regarding our business plans, prospects, growth and operating      strategies; |
|--------------------------------|------------------------------------------------------------------------------------------------|

| ·          | statements      regarding the quality of our loan and investment portfolios;      and |
|--------------------------------|---------------------------------------------------------------------------------------|

| ·          | estimates      of our risks and future costs andbenefits. |
|--------------------------------|-----------------------------------------------------------|

| ·          | the      credit risks of lending activities, including changes in the level and      trend of loan delinquencies and write-offs and changes in our allowance      for loan losses and provision for loan losses that may be impacted by      deterioration in the housing and commercial real estate      markets; |
|--------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·          | changes      in general economic conditions, either nationally or in our market      areas; |
|--------------------------------|---------------------------------------------------------------------------------------------|

| ·          | changes      in the levels of general interest rates, and the relative differences      between short and long term interest rates, deposit interest rates, our      net interest margin and fundingsources; |
|--------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·          | fluctuations      in the demand for loans, the number of unsold homes, land and other      properties and fluctuations in real estate values in our market      areas; |
|--------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·          | secondary      market conditions for loans and our ability to sell loans in the secondary      market; |
|--------------------------------|--------------------------------------------------------------------------------------------------------|

| ·          | results      of examinations of us by the Office of Thrift Supervision or other      regulatory authorities, including the possibility that any such regulatory      authority may, among other things, require us to increase our reserve for      loan losses, write-down assets, change our regulatory capital position or      affect our ability to borrow funds or maintain or increase deposits, which      could adversely affect our liquidity and  earnings; |
|--------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·          | legislative      or regulatory changes that adversely affect our business including changes      in regulatory policies and principles, or  the interpretation of      regulatory capital or other rules; |
|--------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·          | our      ability to attract and retaindeposits; |
|--------------------------------|-------------------------------------------------|

| ·          | further      increases in premiums for depositinsurance; |
|--------------------------------|----------------------------------------------------------|

| ·          | our      ability to control operating costs andexpenses; |
|--------------------------------|----------------------------------------------------------|

| ·          | the      use of estimates in determining fair value of certain of our assets, which      estimates may prove to be incorrect and result in significant declines in      valuation; |
|--------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·          | difficulties      in reducing risks associated with the loans on our balance      sheet; |
|--------------------------------|------------------------------------------------------------------------------------------|

| ·          | staffing      fluctuations in response to product demand or the implementation of      corporate strategies that affect our workforce and potential associated      charges; |
|--------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·          | computer      systems on which we depend could fail or experience a security      breach; |
|--------------------------------|-------------------------------------------------------------------------------------------|

| ·          | our      ability to retain key members of our senior management    team; |
|--------------------------------|--------------------------------------------------------------------------|

| ·          | costs      and effects of litigation, including settlements and      judgments; |
|--------------------------------|---------------------------------------------------------------------------------|

| ·          | our      ability to successfully integrate any assets, liabilities, customers,      systems, and management personnel we may in the future acquire into our      operations and our ability to realize related revenue synergies and cost      savings within expected time frames and any goodwill charges related      thereto; |
|--------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·          | increased      competitive pressures among financial services  companies; |
|--------------------------------|---------------------------------------------------------------------------|

| ·          | changes      in consumer spending, borrowing and savings  habits; |
|--------------------------------|-------------------------------------------------------------------|

| ·          | the      availability of resources to address changes in laws, rules, or      regulations or to respond to regulatoryactions; |
|--------------------------------|-------------------------------------------------------------------------------------------------------------------------------|

| ·          | our      ability to pay dividends on our commonstock; |
|--------------------------------|-------------------------------------------------------|

| ·          | adverse      changes in the securities markets; |
|--------------------------------|-------------------------------------------------|

| ·          | inability      of key third-party providers to perform their obligations to      us; |
|--------------------------------|--------------------------------------------------------------------------------------|

| ·          | changes      in accounting policies and practices, as may be adopted by the financial      institution regulatory agencies or the Financial Accounting Standards      Board, including additional guidance and interpretation on accounting      issues and details of the implementation of new accounting methods;      and |
|--------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·          | other      economic, competitive, governmental, regulatory, and technological factors      affecting our operations, pricing, products and services and the other      risks described elsewhere in this prospectus and the incorporated      documents. |
|--------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                   |   |                   |               |   |                |   |               | Increase      (Decrease) |   |
|------------------------------------------------------------------------------------------------------------------------|--------|------------------------|--------------------|--------|---------------------|--------|--------------------|--------------------------|--------|
|                                                                                                                   |   | December      31, 2009 |               |   | March      31, 2009 |   |               | Amount                   |   |   | Percent |   |
| Cash      And Cash Equivalents                                                                                         |   | $                      | 9,999,440          |   |                | $      | 6,562,394          |                     |   | $ | 3,437,046 |   |   |   | 52.4 | % |
| Investment      And Mortgage-   Backed      Securities –   Available      For Sale |   |                   |   298,559,096 |   |                |   |   282,832,735 |                     |   |   |   15,726,361 |   |   |   |   5.6 |   |
| Investment      And Mortgage-   Backed      Securities – Held   To      Maturity   |   |                   |   20,925,353  |   |                |   |   31,265,866  |                     |   |   | (10,340,513 | ) |   |   | (33.1 | ) |
| Loan      Receivable, Net                                                                                              |   |                   | 589,604,964        |   |                |   | 611,089,873        |                     |   |   | (21,484,909 | ) |   |   | (3.5 | ) |
| Premises      And Equipment,   Net                                                                      |   |                   | 20,997,475         |   |                |   | 21,675,434         |                     |   |   | (677,959 | ) |   |   | (3.1 | ) |
| Bank      Owned Life Insurance                                                                                         |   |                   | 9,911,305          |   |                |   | 9,641,305          |                     |   |   | 270,000 |   |   |   | 2.8 |   |
| Repossessed      Assets  Acquired      in Settlement of  Loans                                     |   |                   |   3,582,754   |   |                |   |   1,985,172   |                     |   |   |   1,597,582 |   |   |   |   80.5 |   |
| Other      Assets                                                                                                      |   |                   | 7,993,708          |   |                |   | 1,657,189          |                     |   |   | 6,336,519 |   |   |   | 382.4 |   |

----

|                                 |   |   |                   |        |   |                |   |       | Balance                  |   |
|--------------------------------------|--------|--------|------------------------|-------------|--------|---------------------|--------|------------|--------------------------|--------|
|                                 |   |   | December      31, 2009 |        |   | March      31, 2009 |   |       | Increase      (Decrease) |   |
|                                 |   |   | Balance                |        |   | Weighted      Rate  |   |       | Balance                  |   |   | Weighted      Rate |   |   | Amount |   |   | Percent |   |
| Demand      Accounts:                |   |   |                   |        |   |                |   |       |                     |   |   |   |   |   |   |   |
| Checking                             |   |   | $                      | 106,916,219 |   |                |   | 0.20       | %                        |   | $ | 104,662,377 |   |   |   | 0.21 | % |   | $ | 2,253,842 |   |   |   | 2.2 | % |
| Money      Market                    |   |   |                   | 168,608,501 |   |                |   | 1.42       |                     |   |   | 150,513,010 |   |   |   | 1.88 |   |   |   | 18,095,491 |   |   |   | 12.0 |   |
| Statement      Savings Accounts |   |   |                   | 17,561,666  |   |                |   |  0.44 |                     |   |   | 17,187,295 |   |   |   |  0.54 |   |   |   | 374,371 |   |   |   | 2.2 |   |
| Total                                |   |   |                   | 293,086,386 |   |                |   | 0.92       |                     |   |   | 272,362,682 |   |   |   | 1.15 |   |   |   | 20,723,704 |   |   |   | 7.6 |   |
|                                 |   |   |                   |        |   |                |   |       |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Certificate      Accounts            |   |   |                   |        |   |                |   |       |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 0.00      – 0.99%              |   |   |                   | 13,312,828  |   |                |   |       |                     |   |   | - |   |   |   |   |   |   |   | 13,312,828 |   |   |   | 100.0 |   |
| 1.00      – 1.99%              |   |   |                   | 96,270,279  |   |                |   |       |                     |   |   | 21,143,194 |   |   |   |   |   |   |   | 75,127,085 |   |   |   | 355.3 |   |
| 2.00      – 2.99%              |   |   |                   | 229,336,950 |   |                |   |       |                     |   |   | 112,373,285 |   |   |   |   |   |   |   | 116,963,665 |   |   |   | 104.1 |   |
| 3.00      – 3.99%              |   |   |                   | 7,280,652   |   |                |   |       |                     |   |   | 76,088,180 |   |   |   |   |   |   |   | (68,807,528 | ) |   |   | (90.4 | ) |
| 4.00      – 4.99%              |   |   |                   | 28,561,434  |   |                |   |       |                     |   |   | 173,467,216 |   |   |   |   |   |   |   | (144,905,782 | ) |   |   | (83.5 | ) |
| 5.00      – 5.99%              |   |   |                   | 4,915,453   |   |                |   |       |                     |   |   | 6,279,018 |   |   |   |   |   |   |   | (1,363,565 | ) |   |   | (21.7 | ) |
| Total                                |   |   |                   | 379,677,596 |   |                |   | 2.32       |                     |   |   | 389,350,893 |   |   |   | 3.51 |   |   |   | (      9,673,297 | ) |   |   | (2.5 | ) |
| Total      Deposits                  |   |   | $                      | 672,763,982 |   |                |   | 1.71       | %                        |   | $ | 661,713,575 |   |   |   | 2.54 | % |   | $ | 11,050,407 |   |   |   | 1.7 | % |

----

|                  |   |                   |                                                                                                                                                     |   |                |   |   | Balance                  |   |
|-----------------------|--------|------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------|--------|--------|--------------------------|--------|
|                  |   | December      31, 2009 |                                                                                                                                                     |   | March      31, 2009 |   |   | Increase      (Decrease) |   |
| Fiscal      Year Due: |   | Balance                |                                                                                                                                                     |   | Rate                |   |   | Balance                  |   |   | Rate |   |   | Balance |   |   | Percent |   |
| 2010                  |   |                   | $                              - |   |                |   | -      | %                        |   | $ | 91,080,000 |   |   |   | 0.94 | % |   | $ | (91,080,000 | ) |   |   | (100.0 | %) |
| 2011                  |   |                   | 38,425,000                                                                                                                                               |   |                |   | 2.14   |                     |   |   | 15,000,000 |   |   |   | 4.87 |   |   |   | 23,425,000 |   |   |   | 156.17 |   |
| 2012                  |   |                   | 34,700,000                                                                                                                                               |   |                |   | 3.66   |                     |   |   | 24,700,000 |   |   |   | 4.56 |   |   |   | 10,000,000 |   |   |   | 40.5 |   |
| 2013                  |   |                   | 10,000,000                                                                                                                                               |   |                |   | 4.76   |                     |   |   | 10,000,000 |   |   |   | 4.76 |   |   |   | - |   |   |   | - |   |
| 2014                  |   |                   | 20,000,000                                                                                                                                               |   |                |   | 3.84   |                     |   |   | 20,000,000 |   |   |   | 3.84 |   |   |   | - |   |   |   | - |   |
| Thereafter            |   |                   | 68,206,548                                                                                                                                               |   |                |   | 4.08   |                     |   |   | 58,218,434 |   |   |   | 4.30 |   |   |   | 9,988,114 |   |   |   | 17.2 |   |
| Total      Advances   |   |                   | $            171,331,548                                                                                                   |   |                |   | 3.57   | %                        |   | $ | 218,998,434 |   |   |   | 2.95 | % |   | $ | (47,666,886 | ) |   |   | (21.8 | )% |

| As      of December 31, 2009 |
|------------------------------|
| Borrow      Date             |   | Maturity      Date |   | Amount |   | Int.      Rate |   | Type |   | Call      Dates |
|                         |   |   |   |   |   |   |   |   |   |   |
| 06/24/05                     |   | 06/24/15 |   |   5,000,000 | 3 | 3.710% |   | 1      Time Call |   | 06/24/10 |
| 11/23/05                     |   | 11/23/15 |   |   5,000,000 |   | 3.933% |   | Multi-Call |   | 05/25/08      and quarterly thereafter |
| 01/12/06                     |   | 01/12/16 |   |   5,000,000 |   | 4.450% |   | 1      Time Call |   | 01/12/11 |
| 03/01/06                     |   | 03/03/14 |   |   5,000,000 |   | 4.720% |   | 1      Time Call |   | 03/03/10 |
| 06/02/06                     |   | 06/02/16 |   |   5,000,000 |   | 5.160% |   | 1      Time Call |   | 06/02/11 |
| 07/11/06                     |   | 07/11/16 |   |   5,000,000 |   | 4.800% |   | Multi-Call |   | 07/11/08      and quarterly thereafter |
| 11/29/06                     |   | 11/29/16 |   |   5,000,000 |   | 4.025% |   | Multi-Call |   | 05/29/08      and quarterly thereafter |
| 01/19/07                     |   | 07/21/14 |   |   5,000,000 |   | 4.885% |   | 1      Time Call |   | 07/21/11 |
| 05/24/07                     |   | 05/24/17 |   |   7,900,000 |   | 4.375% |   | Multi-Call |   | 05/27/08      and quarterly thereafter |
| 07/25/07                     |   | 07/25/17 |   |   5,000,000 |   | 4.396% |   | Multi-Call |   | 07/25/08      and quarterly thereafter |
| 11/16/07                     |   | 11/16/11 |   |   5,000,000 |   | 3.745% |   | Multi-Call |   | 11/17/08      and quarterly thereafter |
| 08/28/08                     |   | 08/28/13 |   |   5,000,000 |   | 3.113% |   | Multi-Call |   | 08/30/10      and quarterly thereafter |
| 08/28/08                     |   | 08/28/18 |   |   5,000,000 |   | 3.385% |   | 1      Time Call |   | 08/29/11 |
|                         |   |   |   |   |   |   |   |   |   |   |

----

----

|                                                             | At      December 31, 2009 |   | At      March 31, 2009                                     |   | $      Increase                                                                                |   | %      Increase                                                                                           |
|------------------------------------------------------------------|---------------------------|--------|------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------|
|                                                             | Amount                    |   | Percent      (1)                                           |   | Amount                                                                                         |   | Percent      (1)                                                                                          |   | (Decrease) |   | (Decrease) |
| Loans      90 days or more past due or non-accrual loans:        |                      |   |                                                       |   |                                                                                           |   |                                                                                                      |   |   |   |   |
|           Residential real estate            |  $      3,213,009    |   |         0.6%                                     |   |   $     1,112,023                                 |   |          0.2%                                                                              |   |  $  2,100,986 |   | 188.9% |
|           Commercial business                | 745,811                   |   | 0.1                                                        |   |           2,808,080                |   | 0.5                                                                                                       |   |    (2,062,269) |   |  (73.4)    |
|           Commercial real estate             | 34,079,054                |   | 5.7                                                        |   |       8,044,372                                                  |   |      1.3                                                |   |    26,034,682   |   | 323.6     |
|      Consumer                           | 1,199,579                 |   | 0.2                                                        |   |     955,683                                                                |   | 0.1                                                                                                       |   |         243,896   |   | 25.5     |
| Total non-performing      loans                                  | 39,237,453                |   | 6.6                                                        |   |       12,920,158                                                 |   |     2.1                                                           |   |    26,317,295   |   | 203.7     |
|                                                             |                      |   |                                                       |   |                                                                                           |   |                                                                                                      |   |   |   |   |
| Other      non-performing assets                                 |                      |   |                                                       |   |                                                                                           |   |                                                                                                      |   |   |   |   |
| Repossessed    assets                                            | 57,526                    |   | 0.0                                                        |   | 61,126                                                                                         |   | 0.0                                                                                                       |   | (3,600) |   | (5.9)   |
| Real estate    owned                                             | 3,525,228                 |   | 0.6                                                        |   |         1,924,046                                      |   |          0.3         |   |      1,601,182   |   | 83.2    |
| Total other non-performing      assets                           | 3,582,754                 |   | 0.6                                                        |   |       1,985,172                                                  |   | 0.3                                                                                                       |   |      1,597,582   |   | 80.5    |
| Total      non-performing assets                            | $      42,820,207         |   | 7.2%               |   | $    14,905,330                                                            |   | 2.4%                                                              |   | $      27,914,877   |   | 187.3% |
|                                                             |                      |   |                                                       |   |                                                                                           |   |                                                                                                      |   |   |   |   |
| Total      non-performing assets as a percentage of total assets | 4.4%                      |   |                                                       |   |                1.5% |   |                                                                                                      |   |   |   |   |

----

|                               |   | Three      Months Ended December 31, |        |
|------------------------------------|--------|--------------------------------------|-------------|
|                               |   | 2009                                 |        |   | 2008 |   |   |   |   |
|                               |   |  Average      Balance           |        |   |   Yield |   |   |  Average      Balance |   |   |   Yield |   |   | Increase      (Decrease) In      Interest And Dividend      Income From      2008 |   |
| Loans      Receivable, Net         |   | $                                    | 595,444,922 |   |   |   | 5.98 | % |   | $ | 590,171,933 |   |   |   | 6.10 | % |   | $ | (100,018 | ) |
| Mortgage-Backed      Securities    |   |                                 | 246,652,675 |   |   |   | 4.52 |   |   |   | 212,464,776 |   |   |   | 4.82 |   |   |   | 230,248 |   |
| Investment      Securities         |   |                                 | 82,351,288  |   |   |   | 2.70 |   |   |   | 64,393,513 |   |   |   | 4.31 |   |   |   | (138,900 | ) |
| Overnight      Time Deposits       |   |                                 | 507,937     |   |   |   | 0.04 |   |   |   | 3,352,759 |   |   |   | 0.09 |   |   |   | (683 | ) |
| Total      Interest-Earning Assets |   | $                                    | 924,956,822 |   |   |   | 5.30 | % |   | $ | 870,382,981 |   |   |   | 5.63 | % |   | $ | (9,353 | ) |

----

|                                                    |   | Three      Months Ended December 31, |        |
|---------------------------------------------------------|--------|--------------------------------------|-------------|
|                                                    |   | 2009                                 |        |   | 2008 |   |   |   |   |
|                                                    |   |  Average      Balance           |        |   |   Yield |   |   |  Average      Balance |   |   |   Yield |   |   | Increase      (Decrease) In      Interest Expense From      2008 |   |
| Now      And Money Market   Accounts     |   | $                                    | 229,575,608 |   |   |   | 1.11 | % |   | $ | 202,314,408 |   |   |   | 2.21 | % |   | $ | (478,046 | ) |
| Statement      Savings Accounts                         |   |                                 | 17,302,147  |   |   |   | 0.44 |   |   |   | 15,660,153 |   |   |   | 0.69 |   |   |   | (7,831 | ) |
| Certificates      Accounts                              |   |                                 | 380,085,063 |   |   |   | 2.47 |   |   |   | 359,534,279 |   |   |   | 3.92 |   |   |   | (1,177,444 | ) |
| Advances      And Other Borrowed   Money |   |                                 | 229,088,616 |   |   |   | 2.85 |   |   |   | 243,724,712 |   |   |   | 3.32 |   |   |   | (391,181 | ) |
| Convertible      Senior Debentures                      |   |                                 | 2,050,043   |   |   |   | 7.91 |   |   |   | - |   |   |   | - |   |   |   | 40,560 |   |
| Junior      Subordinated Debentures                     |   |                                 | 5,155,000   |   |   |   | 4.53 |   |   |   | 5,155,000 |   |   |   | 5.75 |   |   |   | (15,709 | ) |
| Total      Interest-Bearing Liabilities                 |   | $                                    | 863,256,477 |   |   |   | 2.19 | % |   | $ | 826,388,552 |   |   |   | 3.27 |   |   | $ | (2,029,651 | ) |

----

|                                                                                                                                                                                    |   | December      31, 2009 |   | December      31, 2008 |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------|--------|------------------------|
| Beginning      Balance                                                                                                                                                                  | $      | 12,723,921             | $      | 8,263,335              |
| Provision                                                                                                                                                                               |   | 2,475,000              |   | 525,000                |
| Charge-offs                                                                                                                                                                             |   | (1,238,686)            |   | (132,819)              |
| Recoveries                                                                                                                                                                              |   | 4,544                  |   | 18,011                 |
| Ending      Balance                                                                                                                                                                     | $      | 13,964,779             | $      | 8,673,527              |
|                                                                                                                                                                                    |   |                   |   |                   |
| Allowance      For Loan Losses As A Percentage Of Gross Loans Receivable,   Held      For Investment At The End Of The Period                                            |   |  2.33%            |   |  1.43%            |
| Allowance      For Loan Losses As A Percentage Of Impaired Loans At The   End      Of The Period                                                                         |   |  41.78%           |   |  73.20%           |
| Impaired      Loans                                                                                                                                                                     | $      | 33,426,994             | $      | 11,849,874             |
| Non-accrual      Loans And 90 Days Or More Past Due Loans As A   Percentage      Of Loans Receivable, Held For Investment At The   End      Of The Period |   |   6.56%      |   |   1.83%      |
| Gross      Loans Receivable,  Held For Investment                                                                                                                             | $      | 598,411,891            | $      | 585,826,823            |
| Total      Loans Receivable, Net                                                                                                                                                        | $      | 589,604,964            | $      | 597,321,830            |

|                                                                | Three      Months Ended December 31, |         | Increase      (Decrease) |
|---------------------------------------------------------------------|--------------------------------------|--------------|--------------------------|
|                                                                |                                 | 2009         |                     |   | 2008 |   |   | Amounts |   |   | Percent |
| Gain      On Sale Of Investments                                    | $                                    | 300,976      |                     | $ | - |   | $ | 300,976 |   |   | 100% |
| Gain      On Sale Of Loans                                          |                                 | 215,080      |                     |   | 107,726 |   |   | 107,354 |   |   | 99.7 |
| Service      Fees On Deposit Accounts                               |                                 | 347,164      |                     |   | 293,327 |   |   | 53,837 |   |   | 18.4 |
| Income      From Cash Value Of   Life      Insurance |                                 |  90,000 |                     |   |  90,000 |   |   |  - |   |   |  - |
| Commissions      From Insurance Agency                              |                                 | 94,544       |                     |   | 141,771 |   |   | (47,227) |   |   | (33.3) |
| Other      Agency Income                                            |                                 | 108,302      |                     |   | 85,633 |   |   | 22,669 |   |   | 26.5 |
| Trust      Income                                                   |                                 | 105,000      |                     |   | 105,000 |   |   | - |   |   | - |
| Other                                                               |                                 | 236,120      |                     |   | 196,893 |   |   | 39,227 |   |   | 19.9) |
| Total      Non-Interest Income                                      | $                                    | 1,497,186    |                     | $ | 1,020,350 |   | $ | 476,836 |   |   | 46.7% |

----

|                                                                                          | Three      Months Ended December 31, |            | Increase      (Decrease) |
|-----------------------------------------------------------------------------------------------|--------------------------------------|-----------------|--------------------------|
|                                                                                          |                                 | 2009            |                     |   | 2008 |   |   | Amounts |   |   | Percent |
| Salaries      And Employee Benefits                                                           | $                                    | 3,007,360       |                     | $ | 2,949,973 |   | $ | 57,387 |   |   | 1.9% |
| Occupancy                                                                                     |                                 | 497,423         |                     |   | 500,193 |   |   | (2,770) |   |   | (0.6) |
| Advertising                                                                                   |                                 | 102,946         |                     |   | 155,088 |   |   | (52,142) |   |   | (33.6) |
| Depreciation      And Maintenance   Of      Equipment                          |                                 |  433,734   |                     |   |  380,470 |   |   |  53,264 |   |   |  14.0 |
| FDIC      Insurance Premiums                                                                  |                                 | 366,000         |                     |   | 201,882 |   |   | 164,118 |   |   | 81.3 |
| Amortization      of Intangibles                                                              |                                 | 22,500          |                     |   | 22,500 |   |   | - |   |   |       - |
| Mandatorily      Redeemable Financial   Instrument      Valuation Expense      |                                 |  65,000    |                     |   |  45,000 |   |   |  20,000 |   |   |  44.4 |
| Loss      On Sale Of Repossessed Assets   Acquired      In Settlement Of Loans |                                 |  3,742     |                     |   |  11,600 |   |   |  (7,858) |   |   |  (67.7) |
| Other                                                                                         |                                 | 1,078,312       |                     |   | 977,797 |   |   | 100,515 |   |   | 10.3 |
| Total      General And Administrative   Expenses                               |  $                              |  5,577,017 |                     |  $ |  5,244,503 |   |  $ |  332,514 |   |   |  6.3% |

----

----

|                               |   | Nine      Months Ended December 31, |        |
|------------------------------------|--------|-------------------------------------|-------------|
|                               |   | 2009                                |        |   | 2008 |   |   |   |   |
|                               |   |  Average      Balance          |        |   |   Yield |   |   |  Average      Balance |   |   |   Yield |   |   | Increase      (Decrease) In      Interest And Dividend      Income From      2008 |   |
| Loans      Receivable, Net         |   | $                                   | 603,913,556 |   |   |   | 5.76 | % |   | $ | 558,021,225 |   |   |   | 6.33 | % |   | $ | (386,840 | ) |
| Mortgage-Backed      Securities    |   |                                | 245,980,360 |   |   |   | 4.43 |   |   |   | 209,265,802 |   |   |   | 4.83 |   |   |   | 591,027 |   |
| Investments                        |   |                                | 73,796,185  |   |   |   | 3.29 |   |   |   | 67,408,412 |   |   |   | 4.67 |   |   |   | (542,722 | ) |
| Overnight      Time Deposits       |   |                                | 755,359     |   |   |   | 0.07 |   |   |   | 1,931,124 |   |   |   | 0.68 |   |   |   | (9,430 | ) |
| Total      Interest-Earning Assets |   | $                                   | 924,445,460 |   |   |   | 5.20 | % |   | $ | 836,626,563 |   |   |   | 5.81 | % |   | $ | (347,965 | ) |
|                               |   |                                |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                            |   | Nine      Months Ended December 31, |        |
|---------------------------------------------------------------------------------|--------|-------------------------------------|-------------|
|                                                                            |   | 2009                                |        |   | 2008 |   |   |   |   |
|                                                                            |   |  Average      Balance          |        |   |   Yield |   |   |  Average      Balance |   |   |   Yield |   |   | Increase      (Decrease)      In Interest      Expense From      2008 |   |
| Now      And Money Market   Accounts                             |   | $                                   | 223,134,518 |   |   |   | 1.17 | % |   | $ | 202,900,887 |   |   |   | 1.98 | % |   | $ | (1,045,675 | ) |
| Statement      Savings Accounts                                                 |   |                                | 17,329,303  |   |   |   | 0.45 |   |   |   | 16,106,786 |   |   |   | 0.75 |   |   |   | (31,941 | ) |
| Certificates      Accounts                                                      |   |                                | 383,526,603 |   |   |   | 2.93 |   |   |   | 339,425,711 |   |   |   | 4.22 |   |   |   | (2,328,593 | ) |
| FHLB      Advances, TAF Advances   And      Other Borrowed Money |   |                                | 233,703,084 |   |   |   |  2.84 |   |   |   | 230,557,226 |   |   |   |  3.63 |   |   |   | (1,308,004 | ) |
| Senior      Convertible Debentures                                              |   |                                | 685,833     |   |   |   | 7.89 |   |   |   | - |   |   |   | - |   |   |   | 40,560 |   |
| Junior      Subordinated Debentures                                             |   |                                | 5,155,000   |   |   |   | 4.72 |   |   |   | 5,155,000 |   |   |   | 5.77 |   |   |   | (40,638 | ) |
| Total      Interest-Bearing Liabilities                                         |   | $                                   | 863,534,341 |   |   |   | 2.41 | % |   | $ | 794,145,610 |   |   |   | 3.42 | % |   | $ | (4,714,291 | ) |

|                   |   | December      31, 2009 |   | December      31, 2008 |
|------------------------|--------|------------------------|--------|------------------------|
| Beginning      Balance | $      | 10,181,599             | $      | 8,066,762              |
| Provision              |   | 5,475,000              |   | 1,025,000              |
| Charge-offs            |   | (1,718,860)            |   | (444,409)              |
| Recoveries             |   | 27,040                 |   | 26,174                 |
| Ending      Balance    | $      | 13,964,779             | $      | 8,673,527              |
|                   |   |                   |   |                   |

----

|                                                                | Nine      Months Ended December 31, |          | Increase      (Decrease) |
|---------------------------------------------------------------------|-------------------------------------|---------------|--------------------------|
|                                                                |                                | 2009          |                     |   | 2008 |   |   | Amounts |   |   | Percent |
| Gain      On Sale Of Investments                                    | $                                   | 675,101       |                     | $ | 126,440 |   | $ | 548,661 |   |   | 433.9% |
| Gain      On Sale Of Loans                                          |                                | 811,545       |                     |   | 335,444 |   |   | 476,101 |   |   | 141.9 |
| Service      Fees On Deposit Accounts                               |                                | 935,846       |                     |   | 850,720 |   |   | 85,126 |   |   | 10.0 |
| Income      From Cash Value Of   Life      Insurance |                                |  270,000 |                     |   |  268,492 |   |   |  1,508 |   |   |  0.6 |
| Commissions      From Insurance Agency                              |                                | 341,874       |                     |   | 474,901 |   |   | (133,027) |   |   | (28.0) |
| Other      Agency Income                                            |                                | 349,813       |                     |   | 208,651 |   |   | 141,162 |   |   | 67.7 |
| Trust      Income                                                   |                                | 315,000       |                     |   | 315,000 |   |   | - |   |   | - |
| Other                                                               |                                | 645,340       |                     |   | 622,512 |   |   | 22,828 |   |   | 3.7 |
| Total      Non-Interest Income                                      | $                                   | 4,344,519     |                     | $ | 3,202,160 |   | $ | 1,142,359 |   |   | 35.7% |

|                                                                                                           | Nine      Months Ended December 31, |               | Increase      (Decrease) |
|----------------------------------------------------------------------------------------------------------------|-------------------------------------|--------------------|--------------------------|
|                                                                                                           |                                | 2009               |                     |   | 2008 |   |   | Amounts |   |   | Percent |
| Salaries      And Employee Benefits                                                                            | $                                   | 8,828,625          |                     | $ | 8,565,480 |   | $ | 263,145 |   |   | 3.1% |
| Occupancy                                                                                                      |                                | 1,490,587          |                     |   | 1,490,879 |   |   | (292) |   |   | 0.0 |
| Advertising                                                                                                    |                                | 318,875            |                     |   | 402,765 |   |   | (83,890) |   |   | (20.8) |
| Depreciation      And Maintenance   Of      Equipment                                           |                                |  1,316,130    |                     |   |  1,222,304 |   |   |  93,826 |   |   |  7.7 |
| FDIC      Insurance Premiums                                                                                   |                                | 1,473,000          |                     |   | 549,227 |   |   | 923,773 |   |   | 168.2 |
| Amortization      of Intangibles                                                                               |                                | 67,500             |                     |   | 67,500 |   |   | - |   |   | - |
| Mandatorily      Redeemable Financial   Instrument      Valuation Expense                       |                                |  109,000      |                     |   |  105,000 |   |   |  4,000 |   |   |  3.8 |
| Loss      On Sale Of Repossessed   Assets      Acquired In Settlement Of   Loans |                                |   64,846 |                     |   |   18,890 |   |   |   45,956 |   |   |   243.3 |
| Other                                                                                                          |                                | 3,080,447          |                     |   | 2,719,836 |   |   | 360,611 |   |   | 13.3 |
| Total      General And Administrative   Expenses                                                |  $                             |  16,749,010   |                     |  $ |  15,141,881 |   |  $ |  1,607,129 |   |   |  10.6% |

----

----

|     (Dollars      in thousands) |   WithinOneMonth |   |  After      OneThroughThreeMonths |   | AfterThreeThroughTwelveMonths |   |    WithinOne      Year |   |  GreaterThanOneYear |   |     Total |
|-----------------------------------------------------|----------------------------|--------|----------------------------------------|--------|-------------------------------|--------|---------------------------------------|--------|--------------------------|--------|-------------------------------|
|                                                |                       |   |                                   |   |                          |   |                                  |   |                     |   |                          |
| Unused      lines of credit                         | $1,802                     |   | $3,746                                 |   | $22,829                       |   | $28,377                               |   | $33,503                  |   | $61,880                       |
|                                                |                       |   |                                   |   |                          |   |                                  |   |                     |   |                          |
| Standby      letters of credit                      |                       |   | 262                                    |   | 385                           |   | 647                                   |   | 107                      |   | 754                           |
|                                                |                       |   |                                   |   |                          |   |                                  |   |                     |   |                          |
| Total                                               | $1,802                     |   | $4,008                                 |   | $23,214                       |   | $29,024                               |   | $33,610                  |   | $62,634                       |

----

----

----

| ·            | cash      flow of the borrower and/or the project being  financed; |
|--------------------------------------------|--------------------------------------------------------------------|

| ·       | the      changes and uncertainties as to the future value of the collateral, in the      case of a collateralized loan; |
|--------------------------------------------|-------------------------------------------------------------------------------------------------------------------------|

| ·       | the      duration of the loan; |
|--------------------------------------------|--------------------------------|

| ·            | the      character and creditworthiness of a particular borrower;    and |
|--------------------------------------------|--------------------------------------------------------------------------|

| ·       | changes      in economic and industryconditions. |
|--------------------------------------------|--------------------------------------------------|

| ·           | our      general reserve, based on our historical default and loss experience and      certain macroeconomic factors based on management’s expectations of future      events; and |
|--------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·      | our      specific reserve, based on our evaluation of non-performing loans and      their underlying collateral |
|--------------------------------------|-----------------------------------------------------------------------------------------------------------------|

----

----

----

|   | 3.1          | Articles Of      Incorporation, as amended (1)                                                                                                                                                 |
|--------|-------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | 3.2          | Articles      of Amendment, Including Certificate of Designation relating to the      Company’s Fixed Rate CumulativePerpetual      Preferred Stock Series A(2)                          |
|   | 3.3          | Bylaws (3)                                                                                                                                                                                     |
|   | 4.1          | Instruments defining      the rights of security holders, including indentures (4)                                                                                                             |
|   | 4.2          | Warrant to purchase      shares of the Company’s common stock dated December 19, 2008(2)                                                                                                 |
|   | 4.3          | Letter      Agreement (including Securities Purchase Agreement Standard Terms) dated      December 19, 2008 between the Company and the United States Department of the Treasury      (2) |
|   | 4.4          | Form of Indenture      with respect to the Company’s 8.0% Convertible Senior Debentures Due 2029      (5)                                                                                |
|   | 4.5          | Specimen Convertible      Senior Debenture Due 2029 (5)                                                                                                                                        |
|   | 10.1         | 1993 Salary      Continuation Agreements (6)                                                                                                                                                   |
|   | 10.2         | Amendment One to      1993 Salary Continuation Agreement (7)                                                                                                                                   |
|   | 10.3    | Form of 2006 Salary      Continuation Agreement(8)                                                                                                                                             |
|   | 10.4              | 1999      Stock Option Plan (3)                                                                                                                                                                |
|   | 10.5              | 1987      Stock Option Plan (6)                                                                                                                                                                |
|   | 10.6              | 2002      Stock Option Plan (9)                                                                                                                                                                |
|   | 10.7              | 2006      Stock Option Plan (10                                                                                                                                                                |
|   | 10.8         | 2004 Employee Stock      Purchase Plan (12)                                                                                                                                                    |
|   | 10.9         | Incentive      Compensation Plan (6)                                                                                                                                                           |
|   | 10.10   | Form of Security      Federal Bank Salary Continuation Agreement (13)                                                                                                                          |
|   | 10.11        | Form of Security      Federal Split Dollar Agreement (13)                                                                                                                                      |
|   | 10.12        | 2008 Equity      Incentive Plan (11)                                                                                                                                                           |
|   | 10.12   | Form of Compensation      Modification Agreement (2)                                                                                                                                           |
|   | 14                | Code      of Ethics (14)                                                                                                                                                                       |
|   | 25.0              | Form      T-1: Statement of Eligibility of Trustee (5)                                                                                                                                         |
|   | 31.1    | Certification of the      Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley      Act.                                                                                 |
|   | 31.2         | Certification of the      Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley      Act.                                                                                 |
|   | 32      | Certifications      Pursuant to Section 906 of the Sarbanes-Oxley  Act                                                                                                                    |

| (1)              | Filed      on June 26, 1998, as an exhibit to the Company’s Proxy Statement and      incorporated herein by reference.                                                                   |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)              | Incorporated      by reference to the Registrant’s Current Report on Form 8-K on December      23, 2008.                                                                                 |
| (3)              | Filed      on March 2, 2000, as an exhibit to the Company’s Registration Statement on      Form S-8 and incorporated herein by reference.                                                |
| (4)              | Filed      on August 12, 1987, as an exhibit to the Company’s Registration Statement      on Form 8-A and incorporated herein by reference.                                              |
| (5)              | Filed      on July 13, 2009 as an exhibit to the Company’s Registration Statement on      Form S-1 (File No. 333-160553) and incorporated herein by      reference.                      |
| (6)              | Filed      on June 28, 1993, as an exhibit to the Company’s Annual Report on Form      10-KSB and incorporated herein by reference.                                                      |
| (7)         | Filed as      an exhibit to the Company’s Quarterly Report on Form 10-QSB for the      quarter ended September 30, 1993 andincorporated      herein by reference.                        |
| (8)              | Filed      on May 24, 2006 as an exhibit to the Company’s Current Report on Form 8-K      dated May 18, 2006 and incorporated herein byreference.                                        |
| (9)              | Filed      on June 19, 2002, as an exhibit to the Company’s Proxy Statement and      incorporated herein by reference.                                                                   |
| (10)             | Filed      on August 22, 2006, as an exhibit to the Company’s Registration Statement      on Form S-8 (Registration Statement No. 333-136813) and incorporated      herein by reference. |
| (11)   | Filed on June 20,      2008, as an exhibit to the Company’s Proxy Statement and incorporated      herein by reference.                                                              |
| (12)        | Filed on June 18,      2004, as an exhibit to the Company’s Proxy Statement and incorporated      herein by reference.                                                              |
| (13)        | Filed on May 24,      2006 as an exhibit to the Current Report on Form 8-K and incorporated      herein by reference.                                                                     |
| (14)        | Filed on June 27,      2008 as an exhibit to the Company’s Annual Report on Form 10-K and      incorporated herein by reference.                                                    |

----

|   |                                |   |   | SECURITY      FEDERAL CORPORATION  |
|--------|-------------------------------------|--------|--------|-----------------------------------------|
|   |                                |   |   |                                    |
|   |                                |   |   |                                    |
| Date:  | February      12, 2010              |   | By:    | /s/Timothy      W. Simmons              |
|   | Timothy      W. Simmons             |
|   | President                           |
|   | Duly      Authorized Representative |
|   |                                |
|   |                                |
|   |                                |

| Date:  | February      12, 2010              |   | By: | /s/Roy      G. Lindburg |
|--------|-------------------------------------|--------|-----|-------------------------|
|   | Roy      G. Lindburg                |
|   | CFO                                 |
|   | Duly      Authorized Representative |

| 45         |
|-----------------|