----

----

| Letter from the President                                                                   | 2                 |
|---------------------------------------------------------------------------------------------|-------------------|
| Selected Consolidated Financial and Other Data                                              | 3                 |
| Management’s Discussion and Analysis of Financial Condition and Results of Operations | 5                 |
| Report of Independent Registered Public Accounting Firm                                     | F-2               |
| Consolidated Balance Sheets                                                            | F-3               |
| Consolidated Statements of Income                                                           | F-4               |
| Consolidated Statements of Equity                                                           | F-5               |
| Consolidated Statements of Cash Flows                                                       | F-6               |
| Notes to Consolidated Financial Statements                                                  | F-7               |
| Stockholder Information                                                                     | Inside Back Cover |
| Directors and Officers                                                                      | Inside Back Cover |

----

----

|                                            |   | At December 31,        |   |
|-------------------------------------------------|--------|------------------------|--------|
|                                            |   | 2009                   |   |   | 2008 |   |   | 2007 |   |
|                                            |   | (Dollars in thousands) |   |
| Selected Financial Condition Data:              |   |                   |   |   |   |   |   |   |   |
|                                            |   |                   |   |   |   |   |   |   |   |
| Total assets                                    |   | $                      | 23,241 |   |   | $ | 21,798 |   |   | $ | 18,427 |   |
| Cash due from banks                             |   |                   | 1,311  |   |   |   | 594 |   |   |   | 136 |   |
| Interest earning deposits in other institutions |   |                   | 4,196  |   |   |   | 4,800 |   |   |   | 2,750 |   |
| Loans, net                                      |   |                   | 12,828 |   |   |   | 10,041 |   |   |   | 9,001 |   |
| Available-for-sale securities                   |   |                   | 4,260  |   |   |   | 5,284 |   |   |   | 5,991 |   |
| Deposits                                        |   |                   | 15,279 |   |   |   | 16,226 |   |   |   | 12,890 |   |
| Stockholders’ Equity                      |   |                   | 7,868  |   |   |   | 5,505 |   |   |   | 5,483 |   |

|                                                |   | For the Year Ended December 31, |   |
|-----------------------------------------------------|--------|---------------------------------|--------|
|                                                |   | 2009                            |   |   | 2008 |   |   | 2007 |   |
|                                                |   | (Dollars in thousands)          |   |
| Selected Operating Data:                            |   |                            |   |   |   |   |   |   |   |
|                                                |   |                            |   |   |   |   |   |   |   |
| Interest income                                     |   | $                               | 1,032  |   |   | $ | 924 |   |   | $ | 945 |   |
| Interest expense                                    |   |                            | 418    |   |   |   | 441 |   |   |   | 487 |   |
| Net interest income                                 |   |                            | 614    |   |   |   | 483 |   |   |   | 458 |   |
| Provision for loan losses                           |   |                            | 41     |   |   |   | 4 |   |   |   | 8 |   |
| Net interest income after provision for loan losses |   |                            | 573    |   |   |   | 479 |   |   |   | 450 |   |
| Non-interest income                                 |   |                            | 7      |   |   |   | 5 |   |   |   | 2 |   |
| Non-interest expense                                |   |                            | 893    |   |   |   | 564 |   |   |   | 449 |   |
|                                                |   |                            |   |   |   |   |   |   |   |   |   |   |
| Income (loss) before income tax expense             |   |                            | (313   | ) |   |   | (80 | ) |   |   | 3 |   |
| Credit for income taxes                             |   |                            | (16    | ) |   |   | (9 | ) |   |   | (3 | ) |
|                                                |   |                            |   |   |   |   |   |   |   |   |   |   |
| Net income (loss)                                   |   | $                               | (297   | ) |   | $ | (71 | ) |   | $ | 6 |   |

----

|                                                                    |   | At or For the Years Ended December 31, |    |
|-------------------------------------------------------------------------|--------|----------------------------------------|---------|
|                                                                    |   | 2009                                   |    |   | 2008 |   |   | 2007 |   |
|                                                                    |   |                                   |    |   |   |   |   |   |   |
| Selected Financial Ratios and Other Data:                               |   |                                   |    |   |   |   |   |   |   |
|                                                                    |   |                                   |    |   |   |   |   |   |   |
| Performance Ratios:                                                     |   |                                   |    |   |   |   |   |   |   |
| Return on assets (ratio of net income (loss) to average total assets)   |   |                                   | (1.30   | )% |   |   | (0.38 | )% |   |   | 0.03 | % |
| Return on equity (ratio of net income (loss) to average equity)         |   |                                   | (4.61   | )% |   |   | (1.30 | )% |   |   | 0.11 | % |
| Interest rate spread (1)                                                |   |                                   | 2.16    | % |   |   | 1.75 | % |   |   | 1.45 | % |
| Net interest margin (2)                                                 |   |                                   | 2.82    | % |   |   | 2.69 | % |   |   | 2.54 | % |
| Efficiency ratio (3)                                                    |   |                                   | 143.80  | % |   |   | 115.57 | % |   |   | 97.61 | % |
| Non-interest expense to average total assets                            |   |                                   | 3.90    | % |   |   | 3.01 | % |   |   | 2.45 | % |
| Average interest-earning assets to average interest-bearing liabilities |   |                                   | 134.37  | % |   |   | 138.26 | % |   |   | 140.35 | % |
| Loans to deposits                                                       |   |                                   | 83.96   | % |   |   | 61.88 | % |   |   | 69.83 | % |
|                                                                    |   |                                   |    |   |   |   |   |   |   |   |   |   |
| Asset Quality Ratios:                                                   |   |                                   |    |   |   |   |   |   |   |   |   |   |
| Non-performing assets to total assets                                   |   |                                   | — | % |   |   | — | % |   |   | — | % |
| Non-performing loans to total loans                                     |   |                                   | — | % |   |   | — | % |   |   | — | % |
| Allowance for loan losses to non-performing loans                       |   |                                   | — | % |   |   | — | % |   |   | — | % |
| Allowance for loan losses to total loans                                |   |                                   | 0.49    | % |   |   | 0.22 | % |   |   | 0.20 | % |
|                                                                    |   |                                   |    |   |   |   |   |   |   |   |   |   |
| Capital Ratio:                                                          |   |                                   |    |   |   |   |   |   |   |   |   |   |
| Average equity to average assets                                        |   |                                   | 28.12   | % |   |   | 29.15 | % |   |   | 29.18 | % |
| Equity to total assets at end of period                                 |   |                                   | 33.85   | % |   |   | 25.25 | % |   |   | 29.76 | % |
| Total capital to risk-weighted assets                                   |   |                                   | 74.61   | % |   |   | 65.50 | % |   |   | 85.30 | % |
| Tier 1 capital to risk-weighted assets                                  |   |                                   | 73.92   | % |   |   | 65.30 | % |   |   | 85.00 | % |
| Tier 1 capital to average assets                                        |   |                                   | 30.66   | % |   |   | 25.00 | % |   |   | 30.00 | % |
|                                                                    |   |                                   |    |   |   |   |   |   |   |   |   |   |
| Other Data:                                                             |   |                                   |    |   |   |   |   |   |   |   |   |   |
| Number of full service offices                                          |   |                                   | 1       |   |   |   | 1 |   |   |   | 1 |   |

| (1) | Represents the difference between the weighted-average yield on interest-earnings assets and the weighted-average cost of interest-bearing liabilities for the period. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | The net interest margin represents net interest income as a percent of average interest-earning assets for the period.                                                 |
| (3) | The efficiency ratio represents non-interest expense divided by the sum of net interest income and non-interest income.                                                |

----

----

----

----

----

|                                                               |   | Years Ended December 31,  |        |
|--------------------------------------------------------------------|--------|---------------------------|-------------|
|                                                               |   | 2009                      |        |   | 2008 |   |
|                                                               |   | AverageOutstandingBalance |        |   | Interest |   |   | Yield/Cost |   |   | AverageOutstandingBalance |   |   | Interest |   |   | Yield/ Cost |   |
|                                                               |   | (Dollars in thousands)    |        |
|                                                               |   |                      |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-earning assets:                                           |   |                      |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans                                                              |   | $                         | 11,410      |   |   | $ | 692 |   |   |   | 6.06 | % |   | $ | 9,873 |   |   | $ | 616 |   |   |   | 6.24 | % |
| Available-for-sale securities                                      |   |                      | 5,635       |   |   |   | 235 |   |   |   | 4.17 |   |   |   | 5,053 |   |   |   | 231 |   |   |   | 4.57 |   |
| FHLB stock                                                         |   |                      | 25          |   |   |   | - |   |   |   | 0.00 |   |   |   | 82 |   |   |   | 5 |   |   |   | 6.10 |   |
| Interest-earning deposits                                          |   |                      |  4,716 |   |   |   | 105 |   |   |   | 2.23 |   |   |   | 2,922 |   |   |   | 72 |   |   |   | 2.46 |   |
| Total interest-earning assets                                      |   |                      | 21,786      |   |   |   | 1,032 |   |   |   | 4.74 |   |   |   | 17,930 |   |   |   | 924 |   |   |   | 5.15 |   |
| Non-interest-earning assets                                        |   |                      | 1,104       |   |   |   |   |   |   |   |   |   |   |   | 815 |   |   |   |   |   |   |   |   |   |
| Total assets                                                       |   | $                         | 22,890      |   |   |   |   |   |   |   |   |   |   | $ | 18,745 |   |   |   |   |   |   |   |   |   |
|                                                               |   |                      |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:                                      |   |                      |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Savings deposits                                                   |   | $                         | 3,386       |   |   |   | 35 |   |   |   | 1.03 |   |   | $ | 2,332 |   |   |   | 29 |   |   |   | 1.24 |   |
| Money market/NOW accounts                                          |   |                      | 1,124       |   |   |   | 2 |   |   |   | 0.18 |   |   |   | 298 |   |   |   | 3 |   |   |   | 1.01 |   |
| Certificates of deposit                                            |   |                      | 11,703      |   |   |   | 381 |   |   |   | 3.26 |   |   |   | 10,338 |   |   |   | 409 |   |   |   | 3.96 |   |
| Total deposits                                                     |   |                      | 16,213      |   |   |   | 418 |   |   |   | 2.58 |   |   |   | 12,968 |   |   |   | 441 |   |   |   | 3.40 |   |
| Total interest-bearing liabilities                                 |   |                      | 16,213      |   |   |   |   |   |   |   |   |   |   |   | 12,968 |   |   |   |   |   |   |   |   |   |
| Non-interest-bearing liabilities                                   |   |                      | 241         |   |   |   |   |   |   |   |   |   |   |   | 313 |   |   |   |   |   |   |   |   |   |
| Total liabilities                                                  |   |                      | 16,454      |   |   |   |   |   |   |   |   |   |   |   | 13,281 |   |   |   |   |   |   |   |   |   |
| Stockholders’ equity                                         |   |                      | 6,436       |   |   |   |   |   |   |   |   |   |   |   | 5,464 |   |   |   |   |   |   |   |   |   |
| Total liabilities and stockholders’ equity                   |   | $                         | 22,890      |   |   |   |   |   |   |   |   |   |   | $ | 18,745 |   |   |   |   |   |   |   |   |   |
|                                                               |   |                      |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net interest income                                                |   |                      |        |   |   | $ | 614 |   |   |   |   |   |   |   |   |   |   | $ | 483 |   |   |   |   |   |
| Net interest rate spread (1)                                       |   |                      |        |   |   |   |   |   |   |   | 2.16 | % |   |   |   |   |   |   |   |   |   |   | 1.75 | % |
| Net interest-earning assets (2)                                    |   | $                         | 5,573       |   |   |   |   |   |   |   |   |   |   | $ | 4,962 |   |   |   |   |   |   |   |   |   |
| Net interest margin (3)                                            |   |                      |        |   |   |   |   |   |   |   | 2.82 | % |   |   |   |   |   |   |   |   |   |   | 2.69 | % |
| Average of interest-earning assets to interest-bearing liabilities |   |                      |        |   |   |   |   |   |   |   | 134.37 | % |   |   |   |   |   |   |   |   |   |   | 138.26 | % |

| (1) | Represents the difference between the weighted-average yield on interest-earning assets and the weighted-average cost of interest-bearings liabilities for the period. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Net interest-earning assets represent the net effect of total interest-earning deposits and total interest-bearing liabilities.                                        |
| (3) | The net interest margin represents net interest income as a percent of average interest-earning assets for the period.                                                 |

----

|                               |   |  Years Ended December 31,2009 vs. 2008 |   |
|------------------------------------|--------|---------------------------------------------|--------|
|                               |   | Increase (Decrease) Due to                  |   |   | TotalIncrease |   |
|                               |   |                                        |   |   |   |   |   |  (Decrease) |   |
|                               |   |  Volume                                |   |   |  Rate |   |   |  Rate |   |
|                               |   |  (Dollars in thousands)                |   |
|  Interest-earning assets:     |   |                                        |   |   |   |   |   |   |   |
| Loans                              |   | $                                           | 95     |   |   | $ | (19 | ) |   | $ | 76 |   |
| Available for sale securities      |   |                                        | 29     |   |   |   | 51 |   |   |   | 80 |   |
| FHLB stock                         |   |                                        | (1     | ) |   |   | (4 | ) |   |   | (5 | ) |
| Interest-earning deposits          |   |                                        | 28     |   |   |   | (71 | ) |   |   | (43 | ) |
| Total interest-earning assets      |   |                                        | 151    |   |   |   | (43 | ) |   |   | 108 |   |
|                               |   |                                        |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:      |   |                                        |   |   |   |   |   |   |   |   |   |   |
| Savings deposits                   |   |                                        | 12     |   |   |   | (6 | ) |   |   | 6 |   |
| NOW accounts                       |   |                                        | 4      |   |   |   | (5 | ) |   |   | (1 | ) |
| Certificates of deposit            |   |                                        | 49     |   |   |   | (77 | ) |   |   | (28 | ) |
| Total deposits                     |   |                                        | 65     |   |   |   | (88 | ) |   |   | (23 | ) |
| Total interest-bearing liabilities |   |                                        | 65     |   |   |   | (88 | ) |   |   | (23 | ) |
| Change in net interest income      |   | $                                           | 86     |   |   | $ | 45 |   |   | $ | 131 |   |

----

| ● | We maintain relatively high levels of short-term liquid assets.  At December 31, 2009, our short-term liquid assets totaled $5.5 million; |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | We lengthen the weighted average maturity of our liabilities through retail deposit pricing strategies; |
|---------|---------------------------------------------------------------------------------------------------------|

| ● | We invest in shorter- to medium-term securities and in securities with step-up rate features providing for increased interest rates prior to maturity according to a pre-determined schedule; and |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | We maintain high levels of capital. |
|---------|-------------------------------------|

----

| Change in           |   |                         |   |   | Estimated Increase      |   |    | NPV as a Percentage of Present Value of Assets (3) |   |
|--------------------------|--------|------------------------------|--------|--------|-------------------------|--------|---------|----------------------------------------------------|--------|
| Interest Rates           |   |  Estimated              |   |   |  (Decrease) in NPV |   |    |  NPV Ratio                                    |   |   |  Change in |   |
|  (basis points) (1) |   |  NPV (2)                |   |   |  Amount            |   |    | Percent                                            |   |   |  (4) |   |   |  Basis Points |   |
|                     |   | (Dollars in thousands)  |   |
| +300                     |   | $                            | 6,166  |   |                    | $      | (1,299  | )                                                  |   |   | (17 | )% |   |   | 28.81 | % |   |   | (333 | ) |
| +200                     |   |                         | 6,696  |   |                    |   | (770    | )                                                  |   |   | (10 | ) |   |   | 30.30 |   |   |   | (185 | ) |
| +100                     |   |                         | 7,112  |   |                    |   | (353    | )                                                  |   |   | (5 | ) |   |   | 31.34 |   |   |   | (80 | ) |
| +50                      |   |                         | 7,299  |   |                    |   | (168    | )                                                  |   |   | (2 | ) |   |   | 31.78 |   |   |   | (36 | ) |
| 0                        |   |                         | 7,465  |   |                    |   | — |                                               |   |   | — |   |   |   | 32.14 |   |   |   | — |   |
| -100                     |   |                         | 7,581  |   |                    |   | 116     |                                               |   |   | 2 |   |   |   | 32.35 |   |   |   | 20 |   |
| -200                     |   |                         | 7,610  |   |                    |   | 145     |                                               |   |   | 2 |   |   |   | 32.31 |   |   |   | 16 |   |

----

| (1) | Assumes an instantaneous uniform change in interest rates at all maturities. |
|-----|------------------------------------------------------------------------------|

| (2) | NPV is the discounted present value of expected cash flows from assets, liabilities and off-balance sheet contracts. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| (3) | Present value of assets represents the discounted present value of incoming cash flows on interest-earning assets. |
|-----|--------------------------------------------------------------------------------------------------------------------|

| (4) | NPV Ratio represents NPV divided by the present value of assets. |
|-----|------------------------------------------------------------------|

----

----

----

| Contents                                                |   |   |   |
|---------------------------------------------------------|--------|--------|--------|
|                                                    |   |   |   |
| Report of Independent Registered Public Accounting Firm |   | F- 2   |   |
|                                                    |   |   |   |
| Consolidated Financial Statements                       |   |   |   |
| Consolidated Balance Sheets                             |   | F - 3  |   |
| Consolidated Statements of Operations                   |   | F - 4  |   |
| Consolidated Statements of Stockholders’ Equity   |   | F - 5  |   |
| Consolidated Statements of Cash Flows                   |   | F - 6  |   |
| Notes to Consolidated Financial Statements              |   | F - 7  |   |

----

|   |   |  120 W. 12th Street, Suite 1200Kansas City, MO  64105-1936816.221.6300  Fax 816.221.6380 www.bkd.com |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|

----

| St. Joseph Bancorp, Inc. and Subsidiaries                         |   |
|-------------------------------------------------------------------|--------|
| Consolidated Balance Sheets                                       |   |
| December 31, 2009 and 2008                                        |   |
|                                                              |   |
|                                                              |   | 2009 |   |   | 2008 |   |
|                                                              |   |   |   |   |   |   |
| Assets                                                            |   |   |   |   |   |   |
| Cash and due from banks                                           |   | $ | 1,311,198 |   |   | $ | 594,352 |   |
| Interest-earning deposits in other institutions                   |   |   | 4,196,227 |   |   |   | 4,800,000 |   |
| Available-for-sale securities                                     |   |   | 4,260,289 |   |   |   | 5,284,222 |   |
| Loans, net of allowance for loan losses of $63,500 and            |   |   |   |   |   |   |   |   |
| $22,000 at December 31, 2009 and 2008, respectively               |   |   | 12,827,709 |   |   |   | 10,041,270 |   |
| Premises and equipment, net                                       |   |   | 421,452 |   |   |   | 394,334 |   |
| Federal Home Loan Bank Stock, at cost                             |   |   | 26,200 |   |   |   | 22,200 |   |
| Interest receivable                                               |   |   | 82,325 |   |   |   | 86,738 |   |
| Prepaid income taxes                                              |   |   | 2,877 |   |   |   | 9,654 |   |
| Prepaid conversion costs                                          |   |   | - |   |   |   | 503,109 |   |
| Other                                                             |   |   | 112,631 |   |   |   | 61,711 |   |
|                                                              |   |   |   |   |   |   |   |   |
| Total assets                                                      |   | $ | 23,240,908 |   |   | $ | 21,797,590 |   |
|                                                              |   |   |   |   |   |   |   |   |
| Liabilities and Stockholders’ Equity                        |   |
|                                                              |   |   |   |   |   |   |   |   |
| Liabilities                                                       |   |   |   |   |   |   |   |   |
| Deposits                                                          |   |   |   |   |   |   |   |   |
| Savings, NOW and money market                                     |   | $ | 4,055,699 |   |   | $ | 3,086,110 |   |
| Time                                                              |   |   | 11,222,929 |   |   |   | 11,003,904 |   |
| Subscription proceeds                                             |   |   | - |   |   |   | 2,136,104 |   |
|                                                              |   |   |   |   |   |   |   |   |
| Total deposits                                                    |   |   | 15,278,628 |   |   |   | 16,226,118 |   |
|                                                              |   |   |   |   |   |   |   |   |
| Advances from borrowers for taxes and insurance                   |   |   | 23,799 |   |   |   | 12,061 |   |
| Interest payable                                                  |   |   | 1,274 |   |   |   | 4,167 |   |
| Deferred income taxes                                             |   |   | 16,405 |   |   |   | 2,815 |   |
| Other liabilities                                                 |   |   | 42,607 |   |   |   | 47,020 |   |
|                                                              |   |   |   |   |   |   |   |   |
| Total liabilities                                                 |   |   | 15,362,713 |   |   |   | 16,292,181 |   |
|                                                              |   |   |   |   |   |   |   |   |
| Temporary Equity                                                  |   |   |   |   |   |   |   |   |
| ESOP shares subject to mandatory redemption                       |   |   | 10,050 |   |   |   | - |   |
|                                                              |   |   |   |   |   |   |   |   |
| Stockholders’ Equity                                        |   |   |   |   |   |   |   |   |
| Common stock, $.01 par value, 4,000,000 shares                    |   |   |   |   |   |   |   |   |
| authorized, 376,918 shares issued and outstanding                 |   |   | 3,739 |   |   |   | - |   |
| Preferred stock, $.01 par value, 1,000,000 shares authorized,     |   |   |   |   |   |   |   |   |
| none issued or outstanding                                        |   |   | - |   |   |   | - |   |
| Additional paid-in capital                                        |   |   | 2,660,021 |   |   |   | - |   |
| Retained earnings                                                 |   |   | 5,131,632 |   |   |   | 5,428,846 |   |
| Accumulated other comprehensive income:                           |   |   |   |   |   |   |   |   |
|   Unrealized gain on available-for-sale securities, net |   |   |   |   |   |   |   |   |
| of income taxes                                                   |   |   | 72,753 |   |   |   | 76,563 |   |
|                                                              |   |   |   |   |   |   |   |   |
| Total stockholders’ equity                                  |   |   | 7,868,145 |   |   |   | 5,505,409 |   |
|                                                              |   |   |   |   |   |   |   |   |
| Total liabilities and stockholders’ equity                  |   | $ | 23,240,908 |   |   | $ | 21,797,590 |   |

----

| St. Joseph Bancorp, Inc. and Subsidiaries             |   |
|-------------------------------------------------------|--------|
| Consolidated Statements of Operations                 |   |
| For the Years Ended December 31, 2009, 2008, and 2007 |   |
|                                                  |   |   |   |   |   |   |   |   |   |
|                                                  |   | 2009 |   |   | 2008 |   |   | 2007 |   |
| Interest Income                                       |   |   |   |   |   |   |   |   |   |
| Interest and fees on loans                            |   | $ | 691,872 |   |   |   | 616,392 |   |   |   | 547,484 |   |
| Available-for-sale securities                         |   |   | 235,278 |   |   |   | 230,516 |   |   |   | 301,842 |   |
| Interest-earning deposits                             |   |   | 104,184 |   |   |   | 71,993 |   |   |   | 89,316 |   |
| Federal Home Loan Bank dividends                      |   |   | 367 |   |   |   | 4,796 |   |   |   | 6,163 |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Interest Income                                 |   |   | 1,031,701 |   |   |   | 923,697 |   |   |   | 944,805 |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest Expense                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                                              |   |   | 417,578 |   |   |   | 440,564 |   |   |   | 486,954 |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Net Interest Income                                   |   |   | 614,123 |   |   |   | 483,133 |   |   |   | 457,851 |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Provision for Loan Losses                             |   |   | 41,500 |   |   |   | 4,000 |   |   |   | 8,000 |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Net Interest Income After Provision for Loan Losses   |   |   | 572,623 |   |   |   | 479,133 |   |   |   | 449,851 |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest Income                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other                                                 |   |   | 6,634 |   |   |   | 5,176 |   |   |   | 2,156 |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest Expense                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Salaries and employee benefits                        |   |   | 427,899 |   |   |   | 366,652 |   |   |   | 279,680 |   |
| Net occupancy expense                                 |   |   | 80,919 |   |   |   | 72,158 |   |   |   | 57,897 |   |
| Depreciation                                          |   |   | 9,888 |   |   |   | 12,316 |   |   |   | 7,415 |   |
| Legal expense                                         |   |   | 54,529 |   |   |   | 3,600 |   |   |   | 3,600 |   |
| Audit fees and exams                                  |   |   | 175,232 |   |   |   | 17,742 |   |   |   | 25,098 |   |
| Franchise and special taxes                           |   |   | 21,571 |   |   |   | 16,937 |   |   |   | 13,105 |   |
| Marketing expense                                     |   |   | 38,049 |   |   |   | 23,062 |   |   |   | 23,317 |   |
| Other                                                 |   |   | 84,316 |   |   |   | 51,911 |   |   |   | 38,692 |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Non-interest Expense                            |   |   | 892,403 |   |   |   | 564,378 |   |   |   | 448,804 |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Income (Loss) Before Income Taxes                     |   |   | (313,146 | ) |   |   | (80,069 | ) |   |   | 3,203 |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Credit for Income Taxes                               |   |   | (15,932 | ) |   |   | (9,226 | ) |   |   | (2,792 | ) |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Net Income (Loss)                                     |   | $ | (297,214 | ) |   | $ | (70,843 | ) |   | $ | 5,995 |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and Diluted Loss Per Common Share               |   | $ | (0.86 | ) |   |   | N/A |   |   |   | N/A |   |

----

| St. Joseph Bancorp, Inc. and Subsidiaries             |
|-------------------------------------------------------|
| Consolidated Statements of Stockholders’ Equity |
| For the Years Ended December 31, 2009, 2008, and 2007 |

|                                                     |   |   |   ComprehensiveIncome |     |   |   Common Stock |   |   |   AdditionalPaid-inCapital |   |   |   Retained Earnings |   |   |  AccumulatedOtherComprehensiveIncome (Loss) |      |   |   TotalStockholders’Equity |   |
|----------------------------------------------------------|--------|--------|----------------------------|----------|--------|---------------------|--------|--------|---------------------------------|--------|--------|--------------------------|--------|--------|--------------------------------------------------|-----------|--------|---------------------------------------|--------|
|                                                     |   |   |                       |     |   |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
| Balance, January 1, 2007                                 |   |   | $                          | -        |   |                | $      | -      |                            |   | $      | -                        |   |   | $                                                | 5,493,694 |   |                                  | $      | (119,305 | ) |   | $ | 5,374,389 |   |
|                                                     |   |   |                       |     |   |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
| Net income                                               |   |   |                       | 5,995    |   |                |   | -      |                            |   |   | -                        |   |   |                                             | 5,995     |   |                                  |   | - |   |   |   | 5,995 |   |
|                                                     |   |   |                       |     |   |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
| Change in unrealized depreciation of available-          |   |   |                       |     |   |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
| for-sale securities, net of income taxes of $48,100 |   |   |                       | 102,200  |   |                |   | -      |                            |   |   | -                        |   |   |                                             | -         |   |                                  |   | 102,200 |   |   |   | 102,200 |   |
| Total comprehensive income                               |   |   | $                          | 108,195  |   |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
|                                                     |   |   |                       |     |   |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
| Balance, December 31, 2007                               |   |   |                       |     |   |                |   | -      |                            |   |   | -                        |   |   |                                             | 5,499,689 |   |                                  |   | (17,105 | ) |   |   | 5,482,584 |   |
|                                                     |   |   |                       |     |   |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
| Net loss                                                 |   |   |                       | (70,843  | )      |                |   | -      |                            |   |   | -                        |   |   |                                             | (70,843   | )      |                                  |   | - |   |   |   | (70,843 | ) |
|                                                     |   |   |                       |     |   |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
| Change in unrealized depreciation of available-          |   |   |                       |     |   |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
| for-sale securities, net of income taxes of $27,398      |   |   |                       | 93,668   |   |                |   | -      |                            |   |   | -                        |   |   |                                             | -         |   |                                  |   | 93,668 |   |   |   | 93,668 |   |
| Total comprehensive income                               |   |   | $                          | 22,825   |   |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
|                                                     |   |   |                       |     |   |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
| Balance, December 31, 2008                               |   |   |                       |     |   |                |   | -      |                            |   |   | -                        |   |   |                                             | 5,428,846 |   |                                  |   | 76,563 |   |   |   | 5,505,409 |   |
|                                                     |   |   |                       |     |   |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
| Net loss                                                 |   |   |                       | (297,214 | )      |                |   | -      |                            |   |   | -                        |   |   |                                             | (297,214  | )      |                                  |   | - |   |   |   | (297,214 | ) |
|                                                     |   |   |                       |     |   |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
| Change in unrealized appreciation of available-          |   |   |                       |     |   |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
| for-sale securities, net of income taxes of  $39    |   |   |                       | (3,810   | )      |                |   | -      |                            |   |   | -                        |   |   |                                             | -         |   |                                  |   | (3,810 | ) |   |   | (3,810 | ) |
| Total comprehensive loss                                 |   |   | $                          | (301,024 | )      |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
|                                                     |   |   |                       |     |   |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
| Net proceeds from issuance of 376,918 shares             |   |   |                       |     |   |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
| of common stock                                          |   |   |                       |     |   |                |   | 3,769  |                            |   |   | 2,961,521                |   |   |                                             | -         |   |                                  |   | - |   |   |   | 2,965,290 |   |
|                                                     |   |   |                       |     |   |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
| Acquisition of unearned ESOP shares                      |   |   |                       |     |   |                |   | (30    | )                               |   |   | (301,500                 | )      |   |                                             | -         |   |                                  |   | - |   |   |   | (301,530 | ) |
|                                                     |   |   |                       |     |   |                |   |   |                            |   |   |                     |   |   |                                             |      |   |                                  |   |   |   |   |   |   |   |
| Balance, December 31, 2009                               |   |   |                       |     |   |                | $      | 3,739  |                            |   | $      | 2,660,021                |   |   | $                                                | 5,131,632 |   |                                  | $      | 72,753 |   |   | $ | 7,868,145 |   |

----

| St. Joseph Bancorp, Inc. and Subsidiaries                     |   |
|---------------------------------------------------------------|--------|
| Consolidated Statements Of Cash Flows                         |   |
| For the Years Ended December 31, 2009, 2008, and 2007         |   |
|                                                          |   |   |   |   |   |   |   |   |   |
|                                                          |   | 2009 |   |   | 2008 |   |   | 2007 |   |
| Operating Activities                                          |   |   |   |   |   |   |   |   |   |
| Net income (loss)                                             |   | $ | (297,214 | ) |   | $ | (70,843 | ) |   | $ | 5,995 |   |
| Adjustments to reconcile net income (loss) to net cash        |   |   |   |   |   |   |   |   |   |   |   |   |
| provided by (used in) operating activities:                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation and amortization                                 |   |   | 21,987 |   |   |   | 22,792 |   |   |   | 7,415 |   |
| Amortization and accretion of securities                      |   |   | 5,019 |   |   |   | 1,409 |   |   |   | 8,924 |   |
| Provision for loan losses                                     |   |   | 41,500 |   |   |   | 4,000 |   |   |   | 8,000 |   |
| Loss (gain) on disposal of equipment                          |   |   | (300 | ) |   |   | 50 |   |   |   | 3,795 |   |
| Deferred income taxes                                         |   |   | 13,629 |   |   |   | 1,978 |   |   |   | (6,467 | ) |
| Compensation cost on allocated ESOP shares                    |   |   | 10,050 |   |   |   | - |   |   |   | - |   |
| Changes in:                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest receivable                                           |   |   | 4,413 |   |   |   | (1,135 | ) |   |   | (14,422 | ) |
| Prepaid income taxes                                          |   |   | 6,777 |   |   |   | (9,654 | ) |   |   | - |   |
| Other assets                                                  |   |   | (50,920 | ) |   |   | (21,914 | ) |   |   | (24,573 | ) |
| Other liabilities and interest payable                        |   |   | (7,306 | ) |   |   | 6,567 |   |   |   | 18,702 |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Net cash provided by (used in) operating activities           |   |   | (252,365 | ) |   |   | (66,750 | ) |   |   | 7,369 |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Investing Activities                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Net redemptions (purchases) of interest-earning deposits |   |   | 603,773 |   |   |   | (2,050,000 | ) |   |   | (1,150,000 | ) |
| Purchases of available-for-sale securities                    |   |   | (1,519,579 | ) |   |   | (1,996,250 | ) |   |   | (205,000 | ) |
| Proceeds from maturities of available-for-sale securities     |   |   | 1,610,000 |   |   |   | 2,000,000 |   |   |   | 500,000 |   |
| Purchases of Federal Home Loan Bank stock                     |   |   | (4,000 | ) |   |   | 120,300 |   |   |   | - |   |
| Principal reductions of mortgage backed securities            |   |   | 924,644 |   |   |   | 821,428 |   |   |   | 1,042,449 |   |
| Net increase in loans                                         |   |   | (2,827,067 | ) |   |   | (1,042,989 | ) |   |   | (230,293 | ) |
| Proceeds from disposal of equipment                           |   |   | 300 |   |   |   | - |   |   |   | - |   |
| Purchases of property and equipment                           |   |   | (49,977 | ) |   |   | (162,456 | ) |   |   | (69,156 | ) |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Net cash used in investing activities                         |   |   | (1,261,906 | ) |   |   | (2,309,967 | ) |   |   | (112,000 | ) |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Financing Activities                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Net increase (decrease) in savings, NOW                       |   |   |   |   |   |   |   |   |   |   |   |   |
| and money market accounts                                     |   |   | 969,589 |   |   |   | 819,787 |   |   |   | (406,189 | ) |
| Net increase in time deposits                                 |   |   | 219,025 |   |   |   | 380,589 |   |   |   | 498,582 |   |
| Net decrease in prepaid conversion costs                      |   |   | (300,781 | ) |   |   | (503,109 | ) |   |   | - |   |
| Net increase in subscription proceeds deposits                |   |   | - |   |   |   | 2,136,104 |   |   |   | - |   |
| Proceeds from issuance of common stock                        |   |   | 1,331,546 |   |   |   | - |   |   |   | - |   |
| Net increase (decrease) in advances from borrowers            |   |   |   |   |   |   |   |   |   |   |   |   |
| for taxes and insurance                                       |   |   | 11,738 |   |   |   | 1,426 |   |   |   | (646 | ) |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Net cash provided by financing activities                     |   |   | 2,231,117 |   |   |   | 2,834,797 |   |   |   | 91,747 |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| (Decrease) increase in cash and cash equivalents              |   |   | 716,846 |   |   |   | 458,080 |   |   |   | (12,884 | ) |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash and Cash Equivalents, Beginning of Year                  |   |   | 594,352 |   |   |   | 136,272 |   |   |   | 149,156 |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash and Cash Equivalents, End of Year                        |   | $ | 1,311,198 |   |   | $ | 594,352 |   |   | $ | 136,272 |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Supplemental Cash Flows Information                           |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest paid                                                 |   | $ | 420,471 |   |   | $ | 436,895 |   |   | $ | 489,419 |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Income taxes paid (net of refunds)                            |   | $ | (36,388 | ) |   | $ | 924 |   |   | $ | 2,334 |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Non cash transactions:                                        |   |   |   |   |   |   |   |   |   |   |   |   |

----

| Note 1:   | Nature of Operations and Summary of Significant Accounting Policies |
|---------------------|---------------------------------------------------------------------|

----

|   | Note 1: | Nature of Operations and Summary of Significant Accounting Policies (Continued) |
|--------|---------|---------------------------------------------------------------------------------|

----

|   | Note 1: | Nature of Operations and Summary of Significant Accounting Policies (Continued) |
|--------|---------|---------------------------------------------------------------------------------|

----

|   |    |                                                                            |
|--------|---------|---------------------------------------------------------------------------------|
|   | Note 1: | Nature of Operations and Summary of Significant Accounting Policies (Continued) |

----

|   | Note 1: | Nature of Operations and Summary of Significant Accounting Policies (Continued) |
|--------|---------|---------------------------------------------------------------------------------|

----

|   | Note 2: | Employee Stock Ownership Plan |
|--------|---------|-------------------------------|

|   | Shares committed for release    |   |   | 1,005   |   |
|--------|---------------------------------|--------|--------|---------|--------|
|   | Unreleased shares               |   |   | 29,148  |   |
|   |                            |   |   |    |   |
|   | Total                           |   |   | 30,153  |   |
|   |                            |   |   |    |   |
|   | Fair value of unreleased shares |   | $      | 306,054 |   |

----

|   | Note 3: | Earnings (Loss) Per Share |
|--------|---------|---------------------------|

|   |                                           |   | Year Ended |     |
|--------|------------------------------------------------|--------|------------|----------|
|   |                                           |   | 12/31/09   |     |
|   |                                           |   |       |     |
|   | Net loss                                       |   | $          | (297,214 | ) |
|   |                                           |   |       |     |   |
|   | Average common shares outstanding              |   | $          | 347,016  |   |
|   | Average common share stock options outstanding |   |       | -        |   |
|   | Average diluted common shares                  |   | $          | 347,016  |   |
|   |                                           |   |       |     |   |
|   | Earnings per share:                            |   |       |     |   |
|   | Basic                                          |   |       | (0.86    | ) |
|   | Diluted                                        |   |       | (0.86    | ) |

|   | Note 4: | Available-For-Sale Securities |
|--------|---------|-------------------------------|

|                       |   | Amortized Cost |      |   | GrossUnrealizedGains |   |   | GrossUnrealizedLosses |   |   | Estimated FairValue |   |
|----------------------------|--------|----------------|-----------|--------|----------------------|--------|--------|-----------------------|--------|--------|---------------------|--------|
| December 31, 2009:         |   |           |      |   |                 |   |   |                  |   |   |                |   |
|                       |   |           |      |   |                 |   |   |                  |   |   |                |   |
| U.S. Government agencies   |   | $              | 2,014,241 |   |                 | $      | 21,482 |                  |   | $      | -                   |   |   | $ | 2,035,723 |   |
| Municipal securities       |   |           | 95,000    |   |                 |   | 1,850  |                  |   |   | -                   |   |   |   | 96,850 |   |
| Mortgage-backed securities |   |           | 2,059,037 |   |                 |   | 68,679 |                  |   |   | -                   |   |   |   | 2,127,716 |   |
|                       |   |           |      |   |                 |   |   |                  |   |   |                |   |   |   |   |   |
|                       |   | $              | 4,168,278 |   |                 | $      | 92,011 |                  |   | $      | -                   |   |   | $ | 4,260,289 |   |

----

|   | Note 4: | Available-For-Sale Securities (Continued) |
|--------|---------|-------------------------------------------|

|                       |   | Amortized Cost |      |   | GrossUnrealizedGains |   |   | GrossUnrealizedLosses |   |   | Estimated FairValue |   |
|----------------------------|--------|----------------|-----------|--------|----------------------|--------|--------|-----------------------|--------|--------|---------------------|--------|
| December 31, 2008:         |   |           |      |   |                 |   |   |                  |   |   |                |   |
|                       |   |           |      |   |                 |   |   |                  |   |   |                |   |
| U.S. Government agencies   |   | $              | 1,999,905 |   |                 | $      | 43,540 |                  |   | $      | -                   |   |   | $ | 2,043,445 |   |
| Municipal securities       |   |           | 205,000   |   |                 |   | 813    |                  |   |   | -                   |   |   |   | 205,813 |   |
| Mortgage-backed securities |   |           | 2,987,021 |   |                 |   | 50,959 |                  |   |   | 3,016               |   |   |   | 3,034,964 |   |
|                       |   |           |      |   |                 |   |   |                  |   |   |                |   |   |   |   |   |
|                       |   | $              | 5,191,926 |   |                 | $      | 95,312 |                  |   | $      | 3,016               |   |   | $ | 5,284,222 |   |

|                       |   | AmortizedCost |      |   | FairValue |   |
|----------------------------|--------|---------------|-----------|--------|-----------|--------|
|                       |   |          |      |   |      |   |
| Within one year            |   | $             | 95,000    |   |      | $      | 96,850 |   |
| One to five years          |   |          | 1,514,241 |   |      |   | 1,534,395 |   |
| Six to ten years           |   |          | 500,000   |   |      |   | 501,328 |   |
| Mortgage-backed securities |   |          | 2,059,037 |   |      |   | 2,127,716 |   |
|                       |   |          |      |   |      |   |   |   |
| Totals                     |   | $             | 4,168,278 |   |      | $      | 4,260,289 |   |

----

|   | Note 4: | Available-For-Sale Securities (Continued) |
|--------|---------|-------------------------------------------|

| December 31, 2008                     |   |
|---------------------------------------|--------|
|                                  |   | Less Than 12 Months |   |   | 12 Months or More |   |   | Total |   |
| Description of Securities             |   | Fair Value |   |   | UnrealizedLosses |   |   | Fair Value |   |   | UnrealizedLosses |   |   | Fair Value |   |   | UnrealizedLosses |   |
|                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Mortgage-backed securities            |   | $ | 1,025 |   |   | $ | 1 |   |   | $ | 436,464 |   |   | $ | 3,015 |   |   | $ | 437,489 |   |   | $ | 3,016 |   |
|                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total temporarily impaired securities |   | $ | 1,025 |   |   | $ | 1 |   |   | $ | 436,464 |   |   | $ | 3,015 |   |   | $ | 437,789 |   |   | $ | 3,016 |   |

|   | Note 5: | Loans and Allowance for Loan Losses |
|--------|---------|-------------------------------------|

|                                           |   | 2009   |       |   | 2008   |   |
|------------------------------------------------|--------|--------|------------|--------|--------|--------|
| Residential real estate                        |   |   |       |   |   |   |
| One-to-four family residential                 |   | $      | 11,640,688 |   |   | $      | 9,738,689 |   |
| Construction                                   |   |   | 199,588    |   |   |   | - |   |
| Commercial real estate                         |   |   | 884,172    |   |   |   | 299,971 |   |
| Consumer                                       |   |   | 169,368    |   |   |   | 28,089 |   |
|                                           |   |   |       |   |   |   |   |   |
| Total loans                                    |   |   | 12,893,816 |   |   |   | 10,066,749 |   |
|                                           |   |   |       |   |   |   |   |   |
| Less                                           |   |   |       |   |   |   |   |   |
| Net deferred loan fees, premiums and discounts |   |   | 2,607      |   |   |   | 3,479 |   |
| Allowance for loan losses                      |   |   | 63,500     |   |   |   | 22,000 |   |
|                                           |   |   |       |   |   |   |   |   |
| Net loans                                      |   | $      | 12,827,709 |   |   | $      | 10,041,270 |   |

----

|   | Note 5: | Loans and Allowance for Loan Losses (Continued) |
|--------|---------|-------------------------------------------------|

|                         |   | 2009   |   |   | 2008   |   |   | 2007   |   |
|------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|                         |   |   |   |   |   |   |   |   |   |
| Balance, beginning of year   |   | $      | 22,000 |   |   | $      | 18,000 |   |   | $ | 10,000 |   |
|                         |   |   |   |   |   |   |   |   |   |   |   |   |
| Provision charged to expense |   |   | 41,500 |   |   |   | 4,000  |   |   |   | 8,000 |   |
|                         |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance, end of year         |   | $      | 63,500 |   |   | $      | 22,000 |   |   | $ | 18,000 |   |

|   | Note 6: | Premises and Equipment |
|--------|---------|------------------------|

|                          |   | 2009   |    |   | 2008   |   |
|-------------------------------|--------|--------|---------|--------|--------|--------|
|                          |   |   |    |   |   |   |
| Land                          |   | $      | 132,400 |   |   | $      | 132,400 |   |
| Buildings and improvements    |   |   | 412,494 |   |   |   | 378,087 |   |
| Furniture and fixtures        |   |   | 213,149 |   |   |   | 204,618 |   |
|                          |   |   | 758,043 |   |   |   | 715,105 |   |
| Less accumulated depreciation |   |   | 336,591 |   |   |   | 320,771 |   |
|                          |   |   |    |   |   |   |   |   |
| Net premises and equipment    |   | $      | 421,452 |   |   | $      | 394,334 |   |

----

|   | Note 7: | Interest-bearing Deposits |
|--------|---------|---------------------------|

| 2010   |   | $      | 5,559,503  |   |
|--------|--------|--------|------------|--------|
| 2011   |   |   | 2,199,669  |   |
| 2012   |   |   | 1,153,373  |   |
| 2013   |   |   | 1,840,047  |   |
| 2014   |   |   | 470,337    |   |
|   |   |   |       |   |
|   |   | $      | 11,222,929 |   |

|                     |   |   |    |   | December 31, |   |    |   |   |
|--------------------------|--------|--------|---------|--------|--------------|--------|---------|--------|--------|
|                     |   | 2009   |    |   | 2008         |   |    | 2007   |   |
|                     |   |   |    |   |         |   |    |   |   |
| Certificates of deposits |   | $      | 380,393 |   |         | $      | 409,263 |   |   | $ | 456,207 |   |
| Savings                  |   |   | 35,183  |   |         |   | 28,740  |   |   |   | 28,745 |   |
| Now accounts             |   |   | 2,002   |   |         |   | 2,561   |   |   |   | 2,002 |   |
|                     |   |   |    |   |         |   |    |   |   |   |   |   |
|                     |   | $      | 417,578 |   |         | $      | 440,564 |   |   | $ | 486,954 |   |

|   | Note 8: | Income Taxes |
|--------|---------|--------------|

|                                 |   | 2009   |    |   | 2008   |   |    | 2007   |   |
|--------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
|                                 |   |   |    |   |   |   |    |   |   |
| Taxes currently (receivable) payable |   | $      | (29,561 | )      |   | $      | (11,204 | )      |   | $ | 3,675 |   |
| Deferred income taxes                |   |   | 13,629  |   |   |   | 1,978   |   |   |   | (6,467 | ) |
|                                 |   |   |    |   |   |   |    |   |   |   |   |   |
| Credit for income taxes              |   | $      | (15,932 | )      |   | $      | (9,226  | )      |   | $ | (2,792 | ) |

----

|   | Note 8: | Income Taxes (Continued) |
|--------|---------|--------------------------|

|                                                                    |   | 2009   |    |   | 2008   |   |    | 2007   |   |
|-------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
|                                                                    |   |   |    |   |   |   |    |   |   |
| Computed at the statutory rate (15% for 2009 and 2008 and 34% for 2007) |   | $      | (46,943 | )      |   | $      | (12,010 | )      |   | $ | 1,080 |   |
| Increase (decrease) resulting from:                                     |   |   |    |   |   |   |    |   |   |   |   |   |
| Tax exempt dividends                                                    |   |   | -       |   |   |   | (74     | )      |   |   | (214 | ) |
| Nondeductible expenses                                                  |   |   | 170     |   |   |   | 128     |   |   |   | 333 |   |
| State income taxes                                                      |   |   | -       |   |   |   | (4,764  | )      |   |   | (164 | ) |
| Graduated rates                                                         |   |   | -       |   |   |   | -       |   |   |   | (3,644 | ) |
| Change to effective rate applied to deferred taxes                      |   |   | -       |   |   |   | 8,446   |   |   |   | - |   |
| Changes in deferred tax asset valuation allowance                       |   |   | 39,288  |   |   |   | -       |   |   |   | - |   |
| Other                                                                   |   |   | (8,447  | )      |   |   | (952    | )      |   |   | (183 | ) |
|                                                                    |   |   |    |   |   |   |    |   |   |   |   |   |
| Actual credit for income taxes                                          |   | $      | (15,932 | )      |   | $      | (9,226  | )      |   | $ | (2,792 | ) |

|                            |   | 2009   |   |   | 2008   |   |
|---------------------------------|--------|--------|--------|--------|--------|--------|
| Deferred tax assets:            |   |   |   |   |   |   |
| Allowance for loan losses       |   | $      | 13,970 |   |   | $      | 4,840 |   |
| Charitable contributions        |   |   | 567    |   |   |   | - |   |
| Accrued compensated absences    |   |   | 2,560  |   |   |   | 2,340 |   |
| Bond premium amortization       |   |   | -      |   |   |   | 2,766 |   |
| ESOP expense                    |   |   | 2,211  |   |   |   | - |   |
| Accrued audit fees              |   |   | -      |   |   |   | 638 |   |
| Net operating loss carryforward |   |   | 39,288 |   |   |   | 6,647 |   |

|                                                          |   |   | 58,596  |   |   |   | 17,231  |   |
|---------------------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|
| Deferred tax liabilities:                                     |   |   |    |   |   |   |    |   |
| Unrealized gain on available-for-sale securities              |   |   | (19,259 | )      |   |   | (19,298 | )      |
| Depreciation timing difference                                |   |   | (16,340 | )      |   |   | -       |   |
| Other                                                         |   |   | (114    | )      |   |   | (748    | )      |
|                                                          |   |   | (35,713 | )      |   |   | (20,046 | )      |
|                                                          |   |   |    |   |   |   |    |   |
| Net deferred tax asset (liability) before valuation allowance |   |   | 22,883  |   |   |   | (2,815  | )      |

----

|   | Note 8: | Income Taxes (Continued) |
|--------|---------|--------------------------|

| Valuation allowance:       |   |   |    |   |   |   |
|----------------------------|--------|--------|---------|--------|--------|--------|
| Beginning balance          |   | $      | -       |   |   | $      | - |   |
| Increase during the period |   |   | (39,288 | )      |   |   | - |   |
| Ending balance             |   |   | (39,288 | )      |   |   | - |   |
|                       |   |   |    |   |   |   |   |   |
| Net deferred tax liability |   | $      | (16,405 | )      |   | $      | (2,845 | ) |

|   | Note 9: | Regulatory Matters |
|--------|---------|--------------------|

----

|   | Note 9: | Regulatory Matters (Continued) |
|--------|---------|--------------------------------|

|                                                                               |   | Actual |      |   | For Capital Adequacy Purposes |   |   | To Be Well Capitalized Under Prompt Corrective Action Provisions |   |
|------------------------------------------------------------------------------------|--------|--------|-----------|--------|-------------------------------|--------|--------|------------------------------------------------------------------|--------|
|                                                                               |   | Amount |      |   | Ratio                         |   |   | Amount                                                           |   |   |   |   |   | Amount |   |   | Ratio |   |
| As of December 31, 2009:                                                           |   |   |      |   |                          |   |   |                                                             |   |   |   |   |   |   |   |   |   |   |
| Total capital       (to risk-weighted assets)             |   | $      | 6,866,000 |   |                          |   | 74.2   | %                                                                |   | $ | 741,000 |   |   |   | 8.0 | % |   | $ | 926,000 |   |   |   | 10.0 | % |
|                                                                               |   |   |      |   |                          |   |   |                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tier I capital       (to risk-weighted assets)       |   |   | 6,802,000 |   |                          |   | 73.5   | %                                                                |   |   | N/A |   |   |   | N/A |   |   |   | 555,000 |   |   |   | 6.0 | % |
|                                                                               |   |   |      |   |                          |   |   |                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tier I capital       (to average assets)             |   |   | 6,802,000 |   |                          |   | 30.7   | %                                                                |   |   | 886,000 |   |   |   | 4.0 | % |   |   | 1,107,000 |   |   |   | 5.0 | % |
|                                                                               |   |   |      |   |                          |   |   |                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tangible capital       (to adjusted tangible assets) |   |   | 6,802,000 |   |                          |   | 30.7   | %                                                                |   |   | 332,000 |   |   |   | 1.5 | % |   |   | N/A |   |   |   | N/A |   |

|                                                                               |   | Actual |      |   | For Capital Adequacy Purposes |   |   | To Be Well Capitalized Under Prompt Corrective Action Provisions |   |
|------------------------------------------------------------------------------------|--------|--------|-----------|--------|-------------------------------|--------|--------|------------------------------------------------------------------|--------|
|                                                                               |   | Amount |      |   | Ratio                         |   |   | Amount                                                           |   |   | Ratio |   |   | Amount |   |   | Ratio |   |
| As of December 31, 2008:                                                           |   |   |      |   |                          |   |   |                                                             |   |   |   |   |   |   |   |   |   |   |
| Total capital       (to risk-weighted assets)        |   | $      | 5,451,000 |   |                          |   | 65.5   | %                                                                |   | $ | 665,000 |   |   |   | 8.0 | % |   | $ | 832,000 |   |   |   | 10.0 | % |
|                                                                               |   |   |      |   |                          |   |   |                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tier I capital       (to risk-weighted assets)       |   |   | 5,429,000 |   |                          |   | 65.3   | %                                                                |   |   | N/A |   |   |   | N/A |   |   |   | 499,000 |   |   |   | 6.0 | % |
|                                                                               |   |   |      |   |                          |   |   |                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tier I capital       (to average assets)             |   |   | 5,429,000 |   |                          |   | 25.0   | %                                                                |   |   | 869,000 |   |   |   | 4.0 | % |   |   | 1,086,000 |   |   |   | 5.0 | % |
|                                                                               |   |   |      |   |                          |   |   |                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tangible capital       (to adjusted tangible assets) |   |   | 5,429,000 |   |                          |   | 25.0   | %                                                                |   |   | 326,000 |   |   |   | 1.5 | % |   |   | N/A |   |   |   | N/A |   |

----

|   | Note 9: | Regulatory Matters (Continued) |
|--------|---------|--------------------------------|

|                                                             |   | December 31 |      |
|------------------------------------------------------------------|--------|-------------|-----------|
|                                                             |   | 2009        |      |   | 2008 |   |
| GAAP Capital                                                     |   |        |      |   |   |   |
| Adjustment for regulatory capital:                               |   | $           | 6,874,000 |   |   | $ | 5,505,000 |   |
| Reverse the effect of net unrealized gains recorded in AOCI |   |        | (72,000   | ) |   |   | (76,000 | ) |
| Tangible Capital                                                 |   |        | 6,802,000 |   |   |   | 5,429,000 |   |
| Tier 1 capital (core capital)                                    |   |        | 6,802,000 |   |   |   | 5,429,000 |   |
| Qualifying general valuation allowance                           |   |        | 64,000    |   |   |   | 22,000 |   |
| Risk-based capital                                               |   |        | 6,866,000 |   |   |   | 5,451,000 |   |

|   | Note 10: | Related Party Transactions |
|--------|----------|----------------------------|

|                             |   | 2009   |    |   | 2008   |   |
|----------------------------------|--------|--------|---------|--------|--------|--------|
|                             |   |   |    |   |   |   |
| Balance, beginning of year       |   | $      | 234,445 |   |   | $      | 240,653 |   |
| New loans                        |   |   | -       |   |   |   | - |   |
| Repayments and reclassifications |   |   | (6,243  | )      |   |   | (6,208 | ) |
|                             |   | $      | 228,202 |   |   | $      | 234,445 |   |

----

|   | Note 11: | Employee Benefit Plan |
|--------|----------|-----------------------|

|   | Note 12: | Fair Value of Financial Instruments |
|--------|----------|-------------------------------------|

|   | Level 1: | Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets.  A quoted price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available. |
|--------|----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Level 2: | Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; inputs to the valuation methodology include quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs to the valuation methodology that are derived principally from or can be corroborated by observable market data by correlation or other means. |
|--------|----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Level 3: | Inputs to the valuation methodology are unobservable and significant to the fair value measurements.  Level 3 assets and liabilities include financial instruments whose value is determined using discounted cash flow methodologies, as well as instruments for which the determination of fair value requires significant management judgment or estimation. |
|--------|----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | Note 12: | Fair Value of Financial Instruments (Continued) |
|--------|----------|-------------------------------------------------|

| Description                      |   | Total  |      |   | Quoted Prices in Active MarketsFor IdenticalAssets (Level 1) |   |   | SignificantOtherObservableInputs (Level 2) |   |   | SignificantUnobservableInputs (Level 3) |   |
|----------------------------------|--------|--------|-----------|--------|--------------------------------------------------------------|--------|--------|--------------------------------------------|--------|--------|-----------------------------------------|--------|
| Assets:At December 31, 2009      |   |   |      |   |                                                         |   |   |                                       |   |   |                                    |   |
|  U.S. Government agencies   |   | $      | 2,035,723 |   |                                                         | $      | -      |                                       |   | $      | 2,035,723                               |   |   | $ | - |   |
|  Municipal securities       |   |   | 96,850    |   |                                                         |   | -      |                                       |   |   | 96,850                                  |   |   |   | - |   |
|  Mortgage-backed securities |   |   | 2,127,716 |   |                                                         |   | -      |                                       |   |   | 2,127,716                               |   |   |   | - |   |
|  Total                      |   | $      | 4,260,289 |   |                                                         | $      | -      |                                       |   | $      | 4,260,289                               |   |   | $ | - |   |
| Assets:At December 31, 2008      |   |   |      |   |                                                         |   |   |                                       |   |   |                                    |   |   |   |   |   |
|  U.S. Government agencies   |   | $      | 2,043,445 |   |                                                         | $      | -      |                                       |   | $      | 2,043,445                               |   |   | $ | - |   |
|  Municipal securities       |   |   | 205,813   |   |                                                         |   | -      |                                       |   |   | 205,813                                 |   |   |   | - |   |
|  Mortgage-backed securities |   |   | 3,034,964 |   |                                                         |   | -      |                                       |   |   | 3,034,964                               |   |   |   | - |   |
|  Total                      |   | $      | 5,284,222 |   |                                                         | $      | -      |                                       |   | $      | 5,284,222                               |   |   | $ | - |   |

----

|   | Note 12: | Fair Value of Financial Instruments (Continued) |
|--------|----------|-------------------------------------------------|

|                                            |   | December 31, 2009 |       |   | December 31, 2008 |   |
|-------------------------------------------------|--------|-------------------|------------|--------|-------------------|--------|
|                                            |   | Carrying Amount   |       |   | Fair Value        |   |   | Carrying Amount |   |   | Fair Value |   |
| Financial assets                                |   |              |       |   |              |   |   |   |   |   |   |   |
| Cash and due from banks                         |   | $                 | 1,311,198  |   |              | $      | 1,311,198 |   |   | $ | 594,352 |   |   | $ | 594,352 |   |
| Interest-earning deposits                       |   |              | 4,196,227  |   |              |   | 4,196,227 |   |   |   | 4,800,000 |   |   |   | 4,800,000 |   |
| Loans, net of allowance for loan losses         |   |              | 12,827,709 |   |              |   | 12,952,930 |   |   |   | 10,041,270 |   |   |   | 10,054,233 |   |
| Federal Home Loan Bank Stock                    |   |              | 26,200     |   |              |   | 26,200 |   |   |   | 22,200 |   |   |   | 22,200 |   |
| Interest receivable                             |   |              | 82,325     |   |              |   | 82,325 |   |   |   | 86,738 |   |   |   | 86,738 |   |
| Financial liabilities                           |   |              |       |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                                        |   |              | 15,278,628 |   |              |   | 15,482,658 |   |   |   | 16,226,118 |   |   |   | 16,386,691 |   |
| Advances from borrowers for taxes and insurance |   |              | 23,799     |   |              |   | 23,799 |   |   |   | 12,061 |   |   |   | 12,061 |   |
| Interest payable                                |   |              | 1,274      |   |              |   | 1,274 |   |   |   | 4,167 |   |   |   | 4,167 |   |

----

|   | Note 13: | Significant Estimates, Concentrations, and Current Economic Conditions |
|--------|----------|------------------------------------------------------------------------|

|   | Note 14: | Commitments and Credit Risk Mortgage |
|--------|----------|--------------------------------------|

----

|   | Note 16: | Selected Quarterly Financial Data (Unaudited) |
|--------|----------|-----------------------------------------------|

|                      |   | 2009    |    |
|---------------------------|--------|---------|---------|
|                      |   | First   |    |   | Second |   |   | Third |   |   | Fourth |   |
|                      |   | Quarter |    |   | Quarter |   |   | Quarter |   |   | Quarter |   |
|                      |   |    |    |   |   |   |   |   |   |   |   |   |
| Total interest income     |   | $       | 250,398 |   |   | $ | 255,123 |   |   | $ | 267,610 |   |   | $ | 258,570 |   |
| Total interest expense    |   |    | 106,020 |   |   |   | 108,738 |   |   |   | 107,381 |   |   |   | 95,439 |   |
| Net interest income       |   |    | 144,378 |   |   |   | 146,385 |   |   |   | 160,229 |   |   |   | 163,131 |   |
| Provision for loan losses |   |    | 8,000   |   |   |   | 9,000 |   |   |   | 4,000 |   |   |   | 20,500 |   |
| Net loss                  |   |    | (65,711 | ) |   |   | (100,444 | ) |   |   | (73,518 | ) |   |   | (57,541 | ) |
| Basic loss per share      |   |    | (0.19   | ) |   |   | (0.29 | ) |   |   | (0.21 | ) |   |   | (0.17 | ) |

|                      |   | 2008    |    |
|---------------------------|--------|---------|---------|
|                      |   | First   |    |   | Second |   |   | Third |   |   | Fourth |   |
|                      |   | Quarter |    |   | Quarter |   |   | Quarter |   |   | Quarter |   |
|                      |   |    |    |   |   |   |   |   |   |   |   |   |
| Total interest income     |   | $       | 228,990 |   |   | $ | 230,586 |   |   | $ | 227,332 |   |   | $ | 236,789 |   |
| Total interest expense    |   |    | 121,503 |   |   |   | 105,765 |   |   |   | 104,339 |   |   |   | 108,957 |   |
| Net interest income       |   |    | 107,487 |   |   |   | 124,821 |   |   |   | 122,993 |   |   |   | 127,832 |   |
| Provision for loan losses |   |    | -       |   |   |   | - |   |   |   | 2,000 |   |   |   | 2,000 |   |
| Net loss                  |   |    | (18,559 | ) |   |   | (3,456 | ) |   |   | (7,206 | ) |   |   | (41,622 | ) |
| Basic loss per share      |   |    | N/A     |   |   |   | N/A |   |   |   | N/A |   |   |   | N/A |   |

----

| ST. JOSEPH BANCORP, INC. AND SUBSIDIARIES                                                  |   |
|--------------------------------------------------------------------------------------------|--------|
| Notes to Consolidated Financial Statements                                                 |   |
| December 31, 2009, 2008, and 2007                                                          |   |
|                                                                                       |   |   |   |
| Note 17:  St. Joseph Bancorp, Inc. (Parent Company Only)                         |   |   |   |
| Financial Statement                                                                        |   |   |   |
|                                                                                       |   |   |   |
| Information relative to the Parent Company’s balance sheet at December 31, 2009, and |   |
| statement of income and cash flows for the year ended December 31, 2009, is as follows:    |   |
|                                                                                       |   |   |   |
| Condensed Balance Sheet                                                                    |   |
| December 31, 2009                                                                          |   |
|                                                                                       |   |   |   |
|                                                                                       |   |   |   |
|                                                                                       |   | 2009 |   |
|                                                                                       |   |   |   |
| Assets                                                                                     |   |   |   |   |
| Cash and due from banks                                                                    |   | $ | 121,217 |   |
| Interest-earning deposits in other institutions                                            |   |   | 902,874 |   |
| Investment in bank subsidiary                                                              |   |   | 6,878,216 |   |
| Interest receivable                                                                        |   |   | 6,510 |   |
|                                                                                       |   |   |   |   |
| Total assets                                                                               |   | $ | 7,908,817 |   |
|                                                                                       |   |   |   |   |
| Liabilities and Equity                                                                     |   |   |   |   |
|                                                                                       |   |   |   |   |
| Liabilities                                                                                |   |   |   |   |
| Accounts payable                                                                           |   | $ | 21,014 |   |
| Other liabilities                                                                          |   |   | 9,608 |   |
|                                                                                       |   |   |   |   |
| Total liabilities                                                                          |   |   | 30,622 |   |
|                                                                                       |   |   |   |   |
| Temporary Equity                                                                           |   |   |   |   |
| ESOP shares subject to manditory redemption                                                |   |   | 10,050 |   |
|                                                                                       |   |   |   |   |
| Stockholders’ Equity                                                                 |   |   |   |   |
| Common stock, $.01 par value, 4,000,000 shares                                             |   |   |   |   |
| authorized, 376,918 shares issued and outstanding                                          |   |   | 3,739 |   |
| Preferred stock, $.01 par value, 1,000,000 shares authorized,                              |   |   |   |   |
| none issued or outstanding                                                                 |   |   | - |   |
| Additional paid-in capital                                                                 |   |   | 2,660,021 |   |
| Retained earnings                                                                          |   |   | 5,204,385 |   |
|                                                                                       |   |   |   |   |
| Total stockholder’s equity                                                           |   |   | 7,868,145 |   |
|                                                                                       |   |   |   |   |
| Total liabilities and stockholder’s equity                                           |   | $ | 7,908,817 |   |

----

| ST. JOSEPH BANCORP, INC. AND SUBSIDIARIES                          |   |
|--------------------------------------------------------------------|--------|
| Notes to Consolidated Financial Statements                         |   |
| December 31, 2009, 2008, and 2007                                  |   |
|                                                               |   |   |   |
|                                                               |   |   |   |
| Note 17:  St. Joseph Bancorp, Inc. (Parent Company Only) |   |   |   |
| Financial Statement                                                |   |   |   |
|                                                               |   |   |   |
|                                                               |   |   |   |
| Condensed Statement of Operations                                  |   |
| Year Ended December 31, 2009                                       |   |
|                                                               |   |   |   |
|                                                               |   | 2009 |   |
| Operating Income (Loss):                                           |   |   |   |
| Interest income                                                    |   | $ | 14,427 |   |
| Equity in net loss of bank subsidiary                              |   |   | (109,838 | ) |
|                                                               |   |   |   |   |
| Operating Loss                                                     |   |   | (95,411 | ) |
|                                                               |   |   |   |   |
| Non-interest Expense                                               |   |   |   |   |
| Salaries and employee benefits                                     |   |   | 16,602 |   |
| Legal expense                                                      |   |   | 50,929 |   |
| Audit fees and exams                                               |   |   | 121,204 |   |
| Franchise and special taxes                                        |   |   | 300 |   |
| Other                                                              |   |   | 12,768 |   |
|                                                               |   |   |   |   |
| Total non-interest expense                                         |   |   | 201,803 |   |
|                                                               |   |   |   |   |
| Loss Before Income Taxes                                           |   |   | (297,214 | ) |
|                                                               |   |   |   |   |
| Credit for Income Taxes                                            |   |   | - |   |
|                                                               |   |   |   |   |
| Net Loss                                                           |   | $ | (297,214 | ) |

----

| ST. JOSEPH BANCORP, INC. AND SUBSIDIARIES                                                                                                       |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| Notes to Consolidated Financial Statements                                                                                                      |   |
| December 31, 2009, 2008, and 2007                                                                                                               |   |
|                                                                                                                                            |   |   |   |
|                                                                                                                                            |   |   |   |
| Note 17:  St. Joseph Bancorp, Inc. (Parent Company Only)                                                                              |   |   |   |
| Financial Statement                                                                                                                             |   |   |   |
|                                                                                                                                            |   |   |   |
| Condensed Statement Of Cash Flows                                                                                                               |   |
| Year Ended December 31, 2009                                                                                                                    |   |
|                                                                                                                                            |   |   |   |
|                                                                                                                                            |   | 2009 |   |
| Operating Activities                                                                                                                            |   |   |   |
| Net loss                                                                                                                                        |   | $ | (297,214 | ) |
| Adjustments to reconcile net income (loss) to net cash                                                                                          |   |   |   |   |
| provided by (used in) operating activities:                                                                                                     |   |   |   |   |
| Equity in net loss of bank subsidiary                                                                                                           |   |   | 109,838 |   |
| Compensation cost on allocated ESOP shares                                                                                                      |   |   | 10,050 |   |
| Changes in:                                                                                                                                     |   |   |   |   |
| Interest receivable                                                                                                                             |   |   | (6,510 | ) |
| Accounts payable                                                                                                                                |   |   | 21,014 |   |
| Other liabilities                                                                                                                               |   |   | 9,608 |   |
|                                                                                                                                            |   |   |   |   |
| Net cash used in operating activities                                                                                                           |   |   | (153,214 | ) |
|                                                                                                                                            |   |   |   |   |
| Investing Activities                                                                                                                            |   |   |   |   |
| Investment in bank subsidiary                                                                                                                   |   |   | (2,290,345 | ) |
| Net purchases of interest-earning deposits                                                                                                      |   |   | (902,874 | ) |
|                                                                                                                                            |   |   |   |   |
| Net cash used in investing activities                                                                                                           |   |   | (3,193,219 | ) |
|                                                                                                                                            |   |   |   |   |
| Financing Activities                                                                                                                            |   |   |   |   |
| Proceeds from issuance of common stock                                                                                                          |   |   | 3,467,650 |   |
|                                                                                                                                            |   |   |   |   |
| Increase in Cash and Cash Equivalents                                                                                                           |   |   | 121,217 |   |
|                                                                                                                                            |   |   |   |   |
| Cash and Cash Equivalents, Beginning of Year                                                                                                    |   |   | - |   |
|                                                                                                                                            |   |   |   |   |
| Cash and Cash Equivalents, End of Year                                                                                                          |   | $ | 121,217 |   |
|                                                                                                                                            |   |   |   |   |
| Supplemental Cash Flows Information                                                                                                             |   |   |   |   |
|                                                                                                                                            |   |   |   |   |
| Interest paid                                                                                                                                   |   | $ | - |   |
|                                                                                                                                            |   |   |   |   |
| Income taxes paid (net of refunds)                                                                                                              |   | $ | - |   |
|                                                                                                                                            |   |   |   |   |
| Non cash transactions:                                                                                                                          |   |   |   |   |
|                                                                                                                                            |   |   |   |   |
| In 2009, conversion costs totaling $803,890 were netted against investment in bank subsidiary.                                                  |   |
|                                                                                                                                            |   |   |   |   |
| In 2009, the Company issued the Employee Stock Ownership Plan (the ESOP) in common stock by providing direct financing of $301,530 to the ESOP. |
|                                                                                                                                            |   |   |   |   |

----

| Fiscal Period                    |   | High   |   |   | Low    |   |   | Dividends |   |
|----------------------------------|--------|--------|--------|--------|--------|--------|--------|-----------|--------|
| Quarter ended March 31, 2009     |   | $      | 10     |   |   | $      | 10     |      |   | $ | — |   |
| Quarter ended June 30, 2009      |   |   | N/A    |   |   |   | N/A    |      |   | $ | — |   |
| Quarter ended September 30, 2009 |   |   | N/A    |   |   |   | N/A    |      |   | $ | — |   |
| Quarter ended December 31, 2009  |   |   | N/A    |   |   |   | N/A    |      |   | $ | — |   |

| Special Counsel                                                                                                                                                                                                                                          |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Luse Gorman Pomerenk & Schick, P.C.                                                                                                                                                                                                                  |
| 5335 Wisconsin Avenue, N.W., Suite 400                                                                                                                                                                                                                   |
| Washington, D.C. 20015                                                                                                                                                                                                                                   |
|                                                                                                                                                                                                                                                     |
| Independent Registered Public Accounting Firm                                                                                                                                                                                                            |
| BKD, LLP                                                                                                                                                                                                                                                 |
| 120 West 12th Street, Suite 1200Kansas City, MO 64105-1936                                                                                                                                                                                          |
| Transfer Agent                                                                                                                                                                                                                                           |
| Registrar and Transfer Company                                                                                                                                                                                                                           |
| 10 Commerce Drive                                                                                                                                                                                                                                        |
| Cranford, New Jersey 07016                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                                                     |
| If you have any questions concerning your stockholder account, please call our transfer agent, noted above, at (800) 368-5948.  This is the number to call if you require a change of address, records or information about lost certificates. |
|                                                                                                                                                                                                                                                     |
| Annual Report on Form 10-K                                                                                                                                                                                                                               |
| A copy of the Company’s Form 10-K for the fiscal year ended December 31, 2009 will be furnished without charge to stockholders upon written request to the Secretary, St. Joseph Bancorp, Inc., 1901 Frederick Avenue, St. Joseph, Missouri 64501. |

----

| Directors                                                                |   |  Officers                        |
|--------------------------------------------------------------------------|--------|---------------------------------------|
| Ralph E. Schank                                                          |   | Ralph E. Schank                       |
| Chairman of the Board                                                    |   | President and Chief Executive Officer |
| President & Chief Executive Officer                                  |   |                                  |
|                                                                     |   | Billy D. Cole                         |
| Billy D. Cole                                                            |   | Executive Vice President              |
| Executive Vice President                                                 |   |                                  |
|                                                                     |   | Barbara V. Elder                      |
| Kirby O. Brooner                                                         |   | Vice President                        |
| Sales & Risk Management, Brooner & Associates Construction, Inc. |   |                                  |
|                                                                     |   |                                  |
| George T. Hopkins, III                                                   |   |                                  |
| Building Development Supervisor, City of St. Joseph, Missouri            |   |                                  |
|                                                                     |   |                                  |
| James L. Rockwell, Jr.                                                   |   |                                  |
| Retired                                                                  |   |                                  |
|                                                                     |   |                                  |
| John R. WrayRealtor, Prudential Summers Realtors                         |   |                                  |