----

----

| Federal                                                        | 20-2107839                           |
|----------------------------------------------------------------|--------------------------------------|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
|                                                           |                                 |
| 2 East Main Street, Georgetown, MA                             | 01833                                |
| (Address of principal executive office)                        | (Zip Code)                           |

| Large accelerated filer  o           | Accelerated filer  o         |
|------------------------------------------------|----------------------------------------|
| Non-accelerated filer    o | Smaller reporting company  x |

----

----

----

Table of Contents

| Part I.             | Financial Information                                                                                           | Page   |
|---------------------|-----------------------------------------------------------------------------------------------------------------|--------|
|                |                                                                                                            |   |
| Item 1:             | Financial Statements (Unaudited)                                                                                |   |
|                |                                                                                                            |   |
|                | Consolidated Statements of Financial Conditionat June 30, 2011 and December 31, 2010                            | 1      |
|                |                                                                                                            |   |
|                | Consolidated Statements of Income for the Three and SixMonths Ended June 30, 2011 and 2010                      | 2      |
|                |                                                                                                            |   |
|                | Consolidated Statements of Changes in Stockholders’Equity for the Six Months Ended June 30, 2011 and 2010 | 3      |
|                |                                                                                                            |   |
|                | Consolidated Statements of Cash Flows for theSix Months Ended June 30, 2011 and 2010                            | 4      |
|                |                                                                                                            |   |
|                | Notes to Consolidated Financial Statements                                                                      | 6      |
|                |                                                                                                            |   |
| Item 2:             | Management’s Discussion and Analysis of Financial Condition and Results ofOperations                      | 21     |
|                |                                                                                                            |   |
| Item 3:             | Quantitative and Qualitative Disclosures About Market Risk                                                      | 33     |
|                |                                                                                                            |   |
| Item 4:             | Controls and Procedures                                                                                         | 33     |
|                |                                                                                                            |   |
| Part II.            | Other Information                                                                                               |   |
|                |                                                                                                            |   |
| Item 1:             | Legal Proceedings                                                                                               | 34     |
| Item 1A:  | Risk Factors                                                                                                    | 34     |
| Item 2:             | Unregistered Sales of Equity Securities and Use of Proceeds                                                     | 34     |
| Item 3:             | Defaults upon Senior Securities                                                                                 | 34     |
| Item 4:             | [Removed and Reserved]                                                                                          | 34     |
| Item 5:             | Other Information                                                                                               | 34     |
| Item 6:             | Exhibits                                                                                                        | 34     |
|                |                                                                                                            |   |
| SIGNATURES          | 35                                                                                                              |

----

Table of Contents

GEOR

| ASSETS                                                                                   |   |
|------------------------------------------------------------------------------------------|--------|
|                                                                                     |   |   |   |   |   |   |
|                                                                                     |   | At |   |   | At |   |
|                                                                                     |   | June 30, |   |   | December 31, |   |
|                                                                                     |   | 2011 |   |   | 2010 |   |
|                                                                                     |   | (Unaudited) |   |   |   |   |
|                                                                                     |   | (In thousands) |   |
|                                                                                     |   |   |   |   |   |   |
| Cash and due from banks                                                                  |   | $ | 1,860 |   |   | $ | 1,490 |   |
| Short-term investments                                                                   |   |   | 4,920 |   |   |   | 1,808 |   |
| Total cash and cash equivalents                                                          |   |   | 6,780 |   |   |   | 3,298 |   |
|                                                                                     |   |   |   |   |   |   |   |   |
| Securities available for sale, at fair value                                             |   |   | 6,420 |   |   |   | 7,219 |   |
| Securities held to maturity, at amortized cost                                           |   |   | 2,730 |   |   |   | 3,202 |   |
| Federal Home Loan Bank stock, at cost                                                    |   |   | 3,111 |   |   |   | 3,111 |   |
| Loans held for sale                                                                      |   |   | 237 |   |   |   | 685 |   |
| Loans, net of allowance for loan losses of $1,660,000 at                                 |   |   |   |   |   |   |   |   |
| June 30, 2011 and $1,651,000 at December 31, 2010                                        |   |   | 172,846 |   |   |   | 178,524 |   |
| Premises and equipment, net                                                              |   |   | 3,911 |   |   |   | 3,961 |   |
| Accrued interest receivable                                                              |   |   | 711 |   |   |   | 777 |   |
| Bank-owned life insurance                                                                |   |   | 2,646 |   |   |   | 2,597 |   |
| Prepaid FDIC insurance                                                                   |   |   | 421 |   |   |   | 514 |   |
| Other assets                                                                             |   |   | 1,113 |   |   |   | 1,127 |   |
|                                                                                     |   |   |   |   |   |   |   |   |
| Total assets                                                                             |   | $ | 200,926 |   |   | $ | 205,015 |   |
|                                                                                     |   |   |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                                     |   |
|                                                                                     |   |   |   |   |   |   |   |   |
| Deposits                                                                                 |   | $ | 151,200 |   |   | $ | 151,463 |   |
| Securities sold under agreements to repurchase                                           |   |   | 422 |   |   |   | 491 |   |
| Short-term Federal Home Loan Bank advances                                               |   |   | 3,000 |   |   |   | 3,500 |   |
| Long-term Federal Home Loan Bank advances                                                |   |   | 25,152 |   |   |   | 28,182 |   |
| Mortgagors' escrow accounts                                                              |   |   | 588 |   |   |   | 598 |   |
| Accrued expenses and other liabilities                                                   |   |   | 1,038 |   |   |   | 1,612 |   |
| Total liabilities                                                                        |   |   | 181,400 |   |   |   | 185,846 |   |
|                                                                                     |   |   |   |   |   |   |   |   |
| Commitments and contingencies                                                            |   |   |   |   |   |   |   |   |
|                                                                                     |   |   |   |   |   |   |   |   |
| Stockholders' equity:                                                                    |   |   |   |   |   |   |   |   |
| Preferred stock, $0.10 par value per share:  1,000,000                         |   |   |   |   |   |   |   |   |
| shares authorized; none outstanding                                                      |   |   | - |   |   |   | - |   |
| Common stock, $0.10 par value per share: 10,000,000                                      |   |   |   |   |   |   |   |   |
| shares authorized; 2,777,250 shares issued                                               |   |   | 278 |   |   |   | 278 |   |
| Additional paid-in capital                                                               |   |   | 11,495 |   |   |   | 11,424 |   |
| Retained earnings                                                                        |   |   | 9,311 |   |   |   | 8,999 |   |
| Accumulated other comprehensive income                                                   |   |   | 103 |   |   |   | 120 |   |
| Unearned compensation - ESOP (32,693 and 36,789 shares unallocated                       |   |   |   |   |   |   |   |   |
| at June 30, 2011 and December 31, 2010, respectively)                                    |   |   | (327 | ) |   |   | (368 | ) |
| Unearned compensation - Restricted stock  (36,552 and 24,000 shares non-vested |   |   |   |   |   |   |   |   |
| at June 30, 2011 and December 31, 2010, respectively)                                    |   |   | (198 | ) |   |   | (100 | ) |
| Treasury stock, at cost (133,347 and 138,863 shares at June 30, 2011                     |   |   |   |   |   |   |   |   |
| and December 31, 2010, respectively)                                                     |   |   | (1,136 | ) |   |   | (1,184 | ) |
| Total stockholders' equity                                                               |   |   | 19,526 |   |   |   | 19,169 |   |
|                                                                                     |   |   |   |   |   |   |   |   |
| Total liabilities and stockholders' equity                                               |   | $ | 200,926 |   |   | $ | 205,015 |   |

----

Table of Contents

GEO

|                                                  |   | Three Months Ended                |      |   | Six Months Ended |   |
|-------------------------------------------------------|--------|-----------------------------------|-----------|--------|------------------|--------|
|                                                  |   | June 30,                          |      |   | June 30,         |   |
|                                                  |   | 2011                              |      |   | 2010             |   |   | 2011 |   |   | 2010 |   |
|                                                  |   | (In thousands, except share data) |      |
|                                                  |   |                              |      |   |             |   |
| Interest and dividend income:                         |   |                              |      |   |             |   |   |   |   |   |   |   |
| Loans, including fees                                 |   | $                                 | 2,685     |   |             | $      | 2,656 |   |   | $ | 5,383 |   |   | $ | 5,193 |   |
| Securities                                            |   |                              | 92        |   |             |   | 149 |   |   |   | 191 |   |   |   | 306 |   |
| Short-term investments                                |   |                              | -         |   |             |   | 1 |   |   |   | - |   |   |   | 1 |   |
| Total interest and dividend income                    |   |                              | 2,777     |   |             |   | 2,806 |   |   |   | 5,574 |   |   |   | 5,500 |   |
|                                                  |   |                              |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Interest expense:                                     |   |                              |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                                              |   |                              | 413       |   |             |   | 537 |   |   |   | 830 |   |   |   | 1,049 |   |
| Short-term Federal Home Loan Bank advances            |   |                              | 2         |   |             |   | 7 |   |   |   | 7 |   |   |   | 13 |   |
| Long-term Federal Home Loan Bank advances             |   |                              | 231       |   |             |   | 328 |   |   |   | 478 |   |   |   | 673 |   |
| Securities sold under agreements to repurchase        |   |                              | -         |   |             |   | - |   |   |   | 1 |   |   |   | 1 |   |
| Total interest expense                                |   |                              | 646       |   |             |   | 872 |   |   |   | 1,316 |   |   |   | 1,736 |   |
|                                                  |   |                              |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Net interest income                                   |   |                              | 2,131     |   |             |   | 1,934 |   |   |   | 4,258 |   |   |   | 3,764 |   |
| Provision for loan losses                             |   |                              | 681       |   |             |   | 76 |   |   |   | 745 |   |   |   | 165 |   |
| Net interest income, after provision for loan losses  |   |                              | 1,450     |   |             |   | 1,858 |   |   |   | 3,513 |   |   |   | 3,599 |   |
|                                                  |   |                              |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest income:                                  |   |                              |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Customer service fees                                 |   |                              | 131       |   |             |   | 155 |   |   |   | 265 |   |   |   | 313 |   |
| Mortgage banking income, net                          |   |                              | 43        |   |             |   | 71 |   |   |   | 110 |   |   |   | 197 |   |
| Income from bank-owned life insurance                 |   |                              | 25        |   |             |   | 25 |   |   |   | 49 |   |   |   | 50 |   |
| Other                                                 |   |                              | (1        | )      |             |   | - |   |   |   | - |   |   |   | 1 |   |
| Total non-interest income                             |   |                              | 198       |   |             |   | 251 |   |   |   | 424 |   |   |   | 561 |   |
|                                                  |   |                              |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest expenses:                                |   |                              |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Salaries and employee benefits                        |   |                              | 954       |   |             |   | 901 |   |   |   | 1,959 |   |   |   | 1,773 |   |
| Occupancy and equipment expenses                      |   |                              | 182       |   |             |   | 181 |   |   |   | 385 |   |   |   | 386 |   |
| Data processing expenses                              |   |                              | 108       |   |             |   | 111 |   |   |   | 217 |   |   |   | 219 |   |
| Professional fees                                     |   |                              | 104       |   |             |   | 61 |   |   |   | 209 |   |   |   | 153 |   |
| Advertising expenses                                  |   |                              | 71        |   |             |   | 88 |   |   |   | 158 |   |   |   | 170 |   |
| FDIC insurance                                        |   |                              | 54        |   |             |   | 60 |   |   |   | 101 |   |   |   | 117 |   |
| Other general and administrative expenses             |   |                              | 234       |   |             |   | 194 |   |   |   | 437 |   |   |   | 377 |   |
| Total non-interest expenses                           |   |                              | 1,707     |   |             |   | 1,596 |   |   |   | 3,466 |   |   |   | 3,195 |   |
|                                                  |   |                              |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| (Loss) income before income taxes                     |   |                              | (59       | )      |             |   | 513 |   |   |   | 471 |   |   |   | 965 |   |
|                                                  |   |                              |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Income tax (benefit) provision                        |   |                              | (39       | )      |             |   | 178 |   |   |   | 159 |   |   |   | 344 |   |
|                                                  |   |                              |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Net (loss) income                                     |   | $                                 | (20       | )      |             | $      | 335 |   |   | $ | 312 |   |   | $ | 621 |   |
|                                                  |   |                              |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Weighted-average number of common shares outstanding: |   |                              |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                 |   |                              | 2,646,420 |   |             |   | 2,620,213 |   |   |   | 2,641,606 |   |   |   | 2,612,301 |   |
| Diluted                                               |   |                              | 2,646,420 |   |             |   | 2,620,213 |   |   |   | 2,641,803 |   |   |   | 2,612,301 |   |
|                                                  |   |                              |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Earnings per share:                                   |   |                              |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                 |   | $                                 | (0.01     | )      |             | $      | 0.13 |   |   | $ | 0.12 |   |   | $ | 0.24 |   |
| Diluted                                               |   | $                                 | (0.01     | )      |             | $      | 0.13 |   |   | $ | 0.12 |   |   | $ | 0.24 |   |

----

Table of Contents

GEOR

|                                          |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |
|-----------------------------------------------|--------|----------------|--------|--------|------------|--------|--------|----------|--------|--------|---------------|--------|--------|---------------|--------|--------|------------------|--------|--------|----------|--------|--------|--------|--------|
|                                          |   |           |   |   |       |   |   |     |   |   | Accumulated   |   |   |          |   |   |             |   |   |     |   |   |   |   |
|                                          |   |           |   |   | Additional |   |   |     |   |   | Other         |   |   | Unearned      |   |   | Unearned         |   |   |     |   |   |   |   |
|                                          |   | Common         |   |   | Paid-in    |   |   | Retained |   |   | Comprehensive |   |   | Compensation- |   |   | Compensation-    |   |   | Treasury |   |   |   |   |
|                                          |   | Stock          |   |   | Capital    |   |   | Earnings |   |   | Income (Loss) |   |   | ESOP          |   |   | Restricted Stock |   |   | Stock    |   |   | Total  |   |
|                                          |   | (In thousands) |   |
|                                          |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |
| Balance at December 31, 2009                  |   | $              | 278    |   |       | $      | 11,329 |     |   | $      | 7,546         |   |   | $             | 127    |   |             | $      | (450   | )        |   |   | -      |   |   | $ | (1,184 | ) |   | $ | 17,646 |   |
|                                          |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Comprehensive income:                         |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                    |   |           | -      |   |       |   | -      |     |   |   | 621           |   |   |          | -      |   |             |   | -      |     |   |   | -      |   |   |   | - |   |   |   | 621 |   |
| Net unrealized gain on securities             |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| available for sale, net of related            |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| tax effects of $36,000                        |   |           | -      |   |       |   | -      |     |   |   | -             |   |   |          | 66     |   |             |   | -      |     |   |   | -      |   |   |   | - |   |   |   | 66 |   |
| Total comprehensive income                    |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   | 687 |   |
|                                          |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Common stock held by ESOP allocated or        |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| committed to be allocated (4,096 shares)      |   |           | -      |   |       |   | (20    | )        |   |   | -             |   |   |          | -      |   |             |   | 41     |     |   |   | -      |   |   |   | - |   |   |   | 21 |   |
|                                          |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Restricted stock granted in connection with   |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| equity incentive plan (25,000 shares)         |   |           | -      |   |       |   | 130    |     |   |   | -             |   |   |          | -      |   |             |   | -      |     |   |   | (130   | )      |   |   | - |   |   |   | - |   |
|                                          |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Forfeiture of restricted stock (1,000 shares) |   |           | -      |   |       |   | (5     | )        |   |   | -             |   |   |          | -      |   |             |   | -      |     |   |   | 5      |   |   |   | - |   |   |   | - |   |
|                                          |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Share based compensation - options            |   |           | -      |   |       |   | 4      |     |   |   | -             |   |   |          | -      |   |             |   | -      |     |   |   | -      |   |   |   | - |   |   |   | 4 |   |
| Share based compensation - restricted stock   |   |           | -      |   |       |   | -      |     |   |   | -             |   |   |          | -      |   |             |   | -      |     |   |   | 10     |   |   |   | - |   |   |   | 10 |   |
|                                          |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance at June 30, 2010                      |   | $              | 278    |   |       | $      | 11,438 |     |   | $      | 8,167         |   |   | $             | 193    |   |             | $      | (409   | )        |   | $      | (115   | )      |   | $ | (1,184 | ) |   | $ | 18,368 |   |
|                                          |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance at December 31, 2010                  |   | $              | 278    |   |       | $      | 11,424 |     |   | $      | 8,999         |   |   | $             | 120    |   |             | $      | (368   | )        |   | $      | (100   | )      |   | $ | (1,184 | ) |   | $ | 19,169 |   |
|                                          |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Comprehensive income:                         |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                    |   |           | -      |   |       |   | -      |     |   |   | 312           |   |   |          | -      |   |             |   | -      |     |   |   | -      |   |   |   | - |   |   |   | 312 |   |
| Net unrealized loss on securities             |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| available for sale, net of related            |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| tax effects of $11,000                        |   |           | -      |   |       |   | -      |     |   |   | -             |   |   |          | (17    | )      |             |   | -      |     |   |   | -      |   |   |   | - |   |   |   | (17 | ) |
| Total comprehensive income                    |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   | 295 |   |
|                                          |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Common stock held by ESOP allocated or        |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| committed to be allocated (4,096 shares)      |   |           | -      |   |       |   | (13    | )        |   |   | -             |   |   |          | -      |   |             |   | 41     |     |   |   | -      |   |   |   | - |   |   |   | 28 |   |
|                                          |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Restricted stock granted in connection with   |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| equity incentive plan (25,998 shares)         |   |           | -      |   |       |   | 169    |     |   |   | -             |   |   |          | -      |   |             |   | -      |     |   |   | (169   | )      |   |   | - |   |   |   | - |   |
|                                          |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Forfeiture of restricted stock (7,650 shares) |   |           | -      |   |       |   | (46    | )        |   |   | -             |   |   |          | -      |   |             |   | -      |     |   |   | 46     |   |   |   | - |   |   |   | - |   |
|                                          |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Reissuance of treasury stock (5,796 shares)   |   |           | -      |   |       |   | (50    | )        |   |   | -             |   |   |          | -      |   |             |   | -      |     |   |   | -      |   |   |   | 50 |   |   |   | - |   |
|                                          |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Return of treasury stock (280 shares)         |   |           | -      |   |       |   | -      |     |   |   | -             |   |   |          | -      |   |             |   | -      |     |   |   | -      |   |   |   | (2 | ) |   |   | (2 | ) |
|                                          |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Share based compensation - options            |   |           | -      |   |       |   | 11     |     |   |   | -             |   |   |          | -      |   |             |   | -      |     |   |   | -      |   |   |   | - |   |   |   | 11 |   |
| Share based compensation - restricted stock   |   |           | -      |   |       |   | -      |     |   |   | -             |   |   |          | -      |   |             |   | -      |     |   |   | 25     |   |   |   | - |   |   |   | 25 |   |
|                                          |   |           |   |   |       |   |   |     |   |   |          |   |   |          |   |   |             |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance at June 30, 2011                      |   | $              | 278    |   |       | $      | 11,495 |     |   | $      | 9,311         |   |   | $             | 103    |   |             | $      | (327   | )        |   | $      | (198   | )      |   | $ | (1,136 | ) |   | $ | 19,526 |   |

----

Table of Contents

GEOR

|                                              |   | Six Months Ended |   |
|---------------------------------------------------|--------|------------------|--------|
|                                              |   | June 30,         |   |
|                                              |   | 2011             |   |   | 2010 |   |
|                                              |   | (In thousands)   |   |
| Cash flows from operating activities:             |   |             |   |   |   |   |
| Net income                                        |   | $                | 312    |   |   | $ | 621 |   |
| Adjustments to reconcile net income to net cash   |   |             |   |   |   |   |   |   |
| provided (used) by operating activities:          |   |             |   |   |   |   |   |   |
| Provision for loan losses                         |   |             | 745    |   |   |   | 165 |   |
| Accretion of securities, net                      |   |             | (4     | ) |   |   | (10 | ) |
| Amortization of deferred loan fees and costs, net |   |             | (46    | ) |   |   | (11 | ) |
| Depreciation and amortization expense             |   |             | 129    |   |   |   | 168 |   |
| Decrease in accrued interest receivable           |   |             | 66     |   |   |   | 10 |   |
| Income from bank-owned life insurance             |   |             | (49    | ) |   |   | (50 | ) |
| Stock-based compensation expense                  |   |             | 64     |   |   |   | 35 |   |
| Loans originated for sale                         |   |             | (4,732 | ) |   |   | (11,738 | ) |
| Principal balance of loans sold                   |   |             | 5,180  |   |   |   | 10,700 |   |
| Prepaid FDIC insurance                            |   |             | 93     |   |   |   | 109 |   |
| Net change in other assets and liabilities        |   |             | (549   | ) |   |   | 524 |   |
| Net cash provided by operating activities         |   |             | 1,209  |   |   |   | 523 |   |
|                                              |   |             |   |   |   |   |   |   |
| Cash flows from investing activities:             |   |             |   |   |   |   |   |   |
| Activity in securities available for sale:        |   |             |   |   |   |   |   |   |
| Maturities, prepayments and calls                 |   |             | 1,755  |   |   |   | 4,013 |   |
| Purchases                                         |   |             | (983   | ) |   |   | (3,000 | ) |
| Maturities, prepayments and calls                 |   |             |   |   |   |   |   |   |
| of securities held to maturity                    |   |             | 475    |   |   |   | 576 |   |
| Loan originations, net                            |   |             | 4,979  |   |   |   | (9,340 | ) |
| Principal balance of portfolio loans sold         |   |             | -      |   |   |   | 157 |   |
| Purchase of premises and equipment                |   |             | (79    | ) |   |   | (94 | ) |
| Net cash provided (used) by investing activities  |   |             | 6,147  |   |   |   | (7,688 | ) |

----

Table of Contents

|                                                 |   | Six Months Ended |   |
|------------------------------------------------------|--------|------------------|--------|
|                                                 |   | June 30,         |   |
|                                                 |   | 2011             |   |   | 2010 |   |
|                                                 |   | (In thousands)   |   |
| Cash flows from financing activities:                |   |             |   |   |   |   |
| Net change in deposits                               |   |             | (263   | ) |   |   | 10,656 |   |
| Net change in securities sold under agreements       |   |             |   |   |   |   |   |   |
| to repurchase                                        |   |             | (69    | ) |   |   | (10 | ) |
| Net change in Federal Home Loan Bank advances with   |   |             |   |   |   |   |   |   |
| maturities of  three months or less        |   |             | (500   | ) |   |   | 1,200 |   |
| Proceeds of Federal Home Loan Bank advances          |   |             |   |   |   |   |   |   |
| with maturities greater than three months            |   |             | -      |   |   |   | 2,500 |   |
| Repayments of Federal Home Loan Bank advances        |   |             |   |   |   |   |   |   |
| with maturities greater than three months            |   |             | (3,030 | ) |   |   | (3,529 | ) |
| Net change in mortgagors' escrow accounts            |   |             | (10    | ) |   |   | 43 |   |
| Return of vested restricted shares to treasury stock |   |             | (2     | ) |   |   | - |   |
| Net cash (used) provided by financing activities     |   |             | (3,874 | ) |   |   | 10,860 |   |
|                                                 |   |             |   |   |   |   |   |   |
| Net change in cash and cash equivalents              |   |             | 3,482  |   |   |   | 3,695 |   |
|                                                 |   |             |   |   |   |   |   |   |
| Cash and cash equivalents at beginning of period     |   |             | 3,298  |   |   |   | 3,645 |   |
|                                                 |   |             |   |   |   |   |   |   |
| Cash and cash equivalents at end of period           |   | $                | 6,780  |   |   | $ | 7,340 |   |
|                                                 |   |             |   |   |   |   |   |   |
| Supplementary information:                           |   |             |   |   |   |   |   |   |
| Interest paid on deposit accounts                    |   | $                | 829    |   |   | $ | 1,046 |   |
| Interest paid on borrowings                          |   |             | 498    |   |   |   | 684 |   |
| Income taxes paid                                    |   |             | 507    |   |   |   | - |   |

----

Table of Contents

GEOR

|   | (1) | Basis of Presentation |
|--------|-----|-----------------------|

|   | (2) | Earnings Per Common Share |
|--------|-----|---------------------------|

|                                                       |   | Three Months Ended |      |   | Six Months Ended |   |
|------------------------------------------------------------|--------|--------------------|-----------|--------|------------------|--------|
|                                                       |   | June 30,           |      |   | June 30,         |   |
|                                                       |   | 2011               |      |   | 2010             |   |   | 2011 |   |   | 2010 |   |
|                                                       |   |               |      |   |             |   |   |   |   |   |   |   |
| Net (loss) income available to common stockholders         |   | $                  | (20,000   | )      |             | $      | 335,000 |   |   | $ | 312,000 |   |   | $ | 621,000 |   |
|                                                       |   |               |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Basic common shares:                                       |   |               |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average shares outstanding                        |   |               | 2,643,903 |   |             |   | 2,638,387 |   |   |   | 2,642,279 |   |   |   | 2,638,387 |   |
| Less:  Weighted average unallocated ESOP shares  |   |               | (34,035   | )      |             |   | (42,229 | ) |   |   | (35,059 | ) |   |   | (43,252 | ) |
| Add:  Weighted average unvested restricted stock |   |               |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| shares with non-forfeitable dividend rights                |   |               | 36,552    |   |             |   | 24,055 |   |   |   | 34,386 |   |   |   | 17,166 |   |
| Basic weighted average common shares outstanding           |   |               | 2,646,420 |   |             |   | 2,620,213 |   |   |   | 2,641,606 |   |   |   | 2,612,301 |   |
|                                                       |   |               |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Dilutive potential common shares                           |   |               | -         |   |             |   | - |   |   |   | 197 |   |   |   | - |   |
|                                                       |   |               |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Diluted weighted average common shares outstanding         |   |               | 2,646,420 |   |             |   | 2,620,213 |   |   |   | 2,641,803 |   |   |   | 2,612,301 |   |
|                                                       |   |               |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Basic earnings per share                                   |   | $                  | (0.01     | )      |             | $      | 0.13 |   |   | $ | 0.12 |   |   | $ | 0.24 |   |
|                                                       |   |               |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Diluted earnings per share                                 |   | $                  | (0.01     | )      |             | $      | 0.13 |   |   | $ | 0.12 |   |   | $ | 0.24 |   |

----

Table of Contents

|   | (3) | Corporate Structure |
|--------|-----|---------------------|

|   | (4) | Recent Accounting Pronouncements |
|--------|-----|----------------------------------|

----

Table of Contents

|   | (5) | Securities |
|--------|-----|------------|

|                          |   |           |   |   | Gross      |   |   | Gross      |   |   |   |   |
|-------------------------------|--------|----------------|--------|--------|------------|--------|--------|------------|--------|--------|--------|--------|
|                          |   | Amortized      |   |   | Unrealized |   |   | Unrealized |   |   | Fair   |   |
|                          |   | Cost           |   |   | Gains      |   |   | Losses     |   |   | Value  |   |
|                          |   | (In thousands) |   |
|                          |   |           |   |   |       |   |   |       |   |   |   |   |
| At June 30, 2011              |   |           |   |   |       |   |   |       |   |   |   |   |
|                          |   |           |   |   |       |   |   |       |   |   |   |   |
| Securities available for sale |   |           |   |   |       |   |   |       |   |   |   |   |
|                          |   |           |   |   |       |   |   |       |   |   |   |   |
| Government-sponsored          |   |           |   |   |       |   |   |       |   |   |   |   |
| enterprise obligations        |   | $              | 2,004  |   |       | $      | 1      |       |   | $      | (25    | )      |   | $ | 1,980 |   |
| Residential mortgage-backed   |   |           |   |   |       |   |   |       |   |   |   |   |   |   |   |   |
| securities                    |   |           | 4,259  |   |       |   | 202    |       |   |   | (21    | )      |   |   | 4,440 |   |
|                          |   |           |   |   |       |   |   |       |   |   |   |   |   |   |   |   |
| Total securities              |   |           |   |   |       |   |   |       |   |   |   |   |   |   |   |   |
| available for sale            |   | $              | 6,263  |   |       | $      | 203    |       |   | $      | (46    | )      |   | $ | 6,420 |   |
|                          |   |           |   |   |       |   |   |       |   |   |   |   |   |   |   |   |
| Securities held to maturity   |   |           |   |   |       |   |   |       |   |   |   |   |   |   |   |   |
|                          |   |           |   |   |       |   |   |       |   |   |   |   |   |   |   |   |
| Residential mortgage-backed   |   |           |   |   |       |   |   |       |   |   |   |   |   |   |   |   |
| securities                    |   | $              | 2,730  |   |       | $      | 180    |       |   | $      | -      |   |   | $ | 2,910 |   |

|                          |   |           |   |   | Gross      |   |   | Gross      |   |   |   |   |
|-------------------------------|--------|----------------|--------|--------|------------|--------|--------|------------|--------|--------|--------|--------|
|                          |   | Amortized      |   |   | Unrealized |   |   | Unrealized |   |   | Fair   |   |
|                          |   | Cost           |   |   | Gains      |   |   | Losses     |   |   | Value  |   |
|                          |   | (In thousands) |   |
|                          |   |           |   |   |       |   |   |       |   |   |   |   |
| At December 31, 2010          |   |           |   |   |       |   |   |       |   |   |   |   |
|                          |   |           |   |   |       |   |   |       |   |   |   |   |
| Securities available for sale |   |           |   |   |       |   |   |       |   |   |   |   |
|                          |   |           |   |   |       |   |   |       |   |   |   |   |
| Government-sponsored          |   |           |   |   |       |   |   |       |   |   |   |   |
| enterprise obligations        |   | $              | 3,006  |   |       | $      | 4      |       |   | $      | (36    | )      |   | $ | 2,974 |   |
| Residential mortgage-backed   |   |           |   |   |       |   |   |       |   |   |   |   |   |   |   |   |
| securities                    |   |           | 4,028  |   |       |   | 217    |       |   |   | -      |   |   |   | 4,245 |   |
|                          |   |           |   |   |       |   |   |       |   |   |   |   |   |   |   |   |
| Total securities              |   |           |   |   |       |   |   |       |   |   |   |   |   |   |   |   |
| available for sale            |   | $              | 7,034  |   |       | $      | 221    |       |   | $      | (36    | )      |   | $ | 7,219 |   |
|                          |   |           |   |   |       |   |   |       |   |   |   |   |   |   |   |   |
| Securities held to maturity   |   |           |   |   |       |   |   |       |   |   |   |   |   |   |   |   |
|                          |   |           |   |   |       |   |   |       |   |   |   |   |   |   |   |   |
| Residential mortgage-backed   |   |           |   |   |       |   |   |       |   |   |   |   |   |   |   |   |
| securities                    |   | $              | 3,202  |   |       | $      | 196    |       |   | $      | -      |   |   | $ | 3,398 |   |

----

Table of Contents

|                        |   | Available for Sale |   |   | Held to Maturity |   |
|-----------------------------|--------|--------------------|--------|--------|------------------|--------|
|                        |   | Amortized          |   |   | Fair             |   |   | Amortized |   |   | Fair |   |
|                        |   | Cost               |   |   | Value            |   |   | Cost |   |   | Value |   |
|                        |   | (In thousands)     |   |
| After 1 year through        |   |               |   |   |             |   |   |   |   |   |   |   |
| 5 years                     |   | $                  | 504    |   |             | $      | 505 |   |   | $ | - |   |   | $ | - |   |
| Over 10 years               |   |               | 1,500  |   |             |   | 1,475 |   |   |   | - |   |   |   | - |   |
|                        |   |               | 2,004  |   |             |   | 1,980 |   |   |   | - |   |   |   | - |   |
| Residential mortgage-backed |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| securities                  |   |               | 4,259  |   |             |   | 4,440 |   |   |   | 2,730 |   |   |   | 2,910 |   |
|                        |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
|                        |   | $                  | 6,263  |   |             | $      | 6,420 |   |   | $ | 2,730 |   |   | $ | 2,910 |   |

|                          |   | Less Than Twelve Months |   |   | Greater Than Twelve Months |   |
|-------------------------------|--------|-------------------------|--------|--------|----------------------------|--------|
|                          |   | Gross                   |   |   |                       |   |   | Gross |   |   |   |   |
|                          |   | Unrealized              |   |   | Fair                       |   |   | Unrealized |   |   | Fair |   |
|                          |   | Losses                  |   |   | Value                      |   |   | Losses |   |   | Value |   |
|                          |   | (In thousands)          |   |
| At June 30, 2011:             |   |                    |   |   |                       |   |   |   |   |   |   |   |
|                          |   |                    |   |   |                       |   |   |   |   |   |   |   |
| Securities available for sale |   |                    |   |   |                       |   |   |   |   |   |   |   |
|                          |   |                    |   |   |                       |   |   |   |   |   |   |   |
| Government-sponsored          |   |                    |   |   |                       |   |   |   |   |   |   |   |
| enterprise obligations        |   | $                       | 25     |   |                       | $      | 1,475 |   |   | $ | - |   |   | $ | - |   |
| Residential mortgage-backed   |   |                    |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| securities                    |   |                    | 21     |   |                       |   | 963 |   |   |   | - |   |   |   | - |   |
|                          |   |                    |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Total securities              |   |                    |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| available for sale            |   | $                       | 46     |   |                       | $      | 2,438 |   |   | $ | - |   |   | $ | - |   |
|                          |   |                    |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| At December 31, 2010:         |   |                    |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|                          |   |                    |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Securities available for sale |   |                    |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|                          |   |                    |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Government-sponsored          |   |                    |   |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| enterprise obligations        |   | $                       | 36     |   |                       | $      | 1,464 |   |   | $ | - |   |   | $ | - |   |

----

Table of Contents

|   | (6) | Loans and Servicing |
|--------|-----|---------------------|

|   | Loans |
|--------|-------|

|                                   |   | At                     |    |   | At           |   |
|----------------------------------------|--------|------------------------|---------|--------|--------------|--------|
|                                   |   | June 30,               |    |   | December 31, |   |
|                                   |   | 2011                   |    |   | 2010         |   |
|                                   |   | Amount                 |    |   | Percent      |   |   | Amount |   |   | Percent |   |
|                                   |   | (Dollars in thousands) |    |
|                                   |   |                   |    |   |         |   |   |   |   |   |   |   |
| Residential loans:                     |   |                   |    |   |         |   |   |   |   |   |   |   |
| One-to-four family                     |   | $                      | 67,014  |   |         |   | 38.44 | % |   | $ | 70,685 |   |   |   | 39.25 | % |
| Home equity loans                      |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| and lines of credit                    |   |                   | 16,904  |   |         |   | 9.69 |   |   |   | 17,305 |   |   |   | 9.61 |   |
| Total residential mortgage loans       |   |                   | 83,918  |   |         |   | 48.13 |   |   |   | 87,990 |   |   |   | 48.86 |   |
|                                   |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| Commercial loans:                      |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| One-to-four family investment property |   |                   | 12,769  |   |         |   | 7.32 |   |   |   | 11,892 |   |   |   | 6.60 |   |
| Multi-family real estate               |   |                   | 14,514  |   |         |   | 8.32 |   |   |   | 14,121 |   |   |   | 7.84 |   |
| Commercial real estate                 |   |                   | 25,085  |   |         |   | 14.39 |   |   |   | 27,688 |   |   |   | 15.38 |   |
| Commercial business                    |   |                   | 11,219  |   |         |   | 6.43 |   |   |   | 12,475 |   |   |   | 6.93 |   |
| Total commercial loans                 |   |                   | 63,587  |   |         |   | 36.46 |   |   |   | 66,176 |   |   |   | 36.75 |   |
|                                   |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| Construction loans:                    |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| One-to-four family                     |   |                   | 16,773  |   |         |   | 9.62 |   |   |   | 16,725 |   |   |   | 9.29 |   |
| Multi-family                           |   |                   | 8,859   |   |         |   | 5.08 |   |   |   | 7,730 |   |   |   | 4.29 |   |
| Non-residential                        |   |                   | 629     |   |         |   | 0.36 |   |   |   | 733 |   |   |   | 0.41 |   |
| Total construction loans               |   |                   | 26,261  |   |         |   | 15.06 |   |   |   | 25,188 |   |   |   | 13.99 |   |
|                                   |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| Consumer                               |   |                   | 618     |   |         |   | 0.35 |   |   |   | 726 |   |   |   | 0.40 |   |
|                                   |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| Total loans:                           |   |                   | 174,384 |   |         |   | 100.00 | % |   |   | 180,080 |   |   |   | 100.00 | % |
|                                   |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| Other items:                           |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| Net deferred loan costs                |   |                   | 122     |   |         |   |   |   |   |   | 95 |   |   |   |   |   |
| Allowance for loan losses              |   |                   | (1,660  | )      |         |   |   |   |   |   | (1,651 | ) |   |   |   |   |
|                                   |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| Total loans, net                       |   | $                      | 172,846 |   |         |   |   |   |   | $ | 178,524 |   |   |   |   |   |

----

Table of Contents

|                      |   | Residential        |   |   | Commercial                            |   |   | Construction                           |   |   |                     |   |                   |   |   |
|---------------------------|--------|--------------------|--------|--------|---------------------------------------|--------|--------|----------------------------------------|--------|--------|--------------------------|--------|------------------------|--------|--------|
|                      |   | One-to-four family |   |   | Home equity loans and lines of credit |   |   | One-to-four family investment property |   |   | Multi-family real estate |   | Commercial real estate |   |   | Commercial business |   |   | One-to-four family |   |   | Multi-family |   |   | Non-residential |   |   | Consumer |   |   | Total |   |
|                      |   | (In thousands)     |   |
| At June 30, 2011          |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                      |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Allowance for loan losses |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                      |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Beginning Balance         |   | $                  | 233    |   |                                  | $      | 320    |                                   |   | $      | 60                       |   |                   | $      | 106    |   |   | $ | 431 |   |   | $ | 304 |   |   | $ | 93 |   |   | $ | 83 |   |   | $ | 6 |   |   | $ | 15 |   |   | $ | 1,651 |   |
| Charge-offs               |   |               | -      |   |                                  |   | (741   | )                                      |   |   | -                        |   |                   |   | -      |   |   |   | - |   |   |   | (2 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (1 | ) |   |   | (744 | ) |
| Recoveries                |   |               | 5      |   |                                  |   | -      |                                   |   |   | -                        |   |                   |   | -      |   |   |   | - |   |   |   | 1 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2 |   |   |   | 8 |   |
| Provision                 |   |               | (11    | )      |                                  |   | 704    |                                   |   |   | 17                       |   |                   |   | 10     |   |   |   | (25 | ) |   |   | (21 | ) |   |   | 37 |   |   |   | 33 |   |   |   | 5 |   |   |   | (4 | ) |   |   | 745 |   |
| Ending Balance            |   | $                  | 227    |   |                                  | $      | 283    |                                   |   | $      | 77                       |   |                   | $      | 116    |   |   | $ | 406 |   |   | $ | 282 |   |   | $ | 130 |   |   | $ | 116 |   |   | $ | 11 |   |   | $ | 12 |   |   | $ | 1,660 |   |
|                      |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ending balance:           |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| individually evaluated    |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for impairment            |   | $                  | 41     |   |                                  | $      | 13     |                                   |   | $      | -                        |   |                   | $      | -      |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 54 |   |
|                      |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ending balance:           |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| collectively evaluated    |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for impairment            |   | $                  | 186    |   |                                  | $      | 270    |                                   |   | $      | 77                       |   |                   | $      | 116    |   |   | $ | 406 |   |   | $ | 282 |   |   | $ | 130 |   |   | $ | 116 |   |   | $ | 11 |   |   | $ | 12 |   |   | $ | 1,606 |   |
|                      |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans                     |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                      |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ending Balance            |   | $                  | 67,014 |   |                                  | $      | 16,904 |                                   |   | $      | 12,769                   |   |                   | $      | 14,514 |   |   | $ | 25,085 |   |   | $ | 11,219 |   |   | $ | 16,773 |   |   | $ | 8,859 |   |   | $ | 629 |   |   | $ | 618 |   |   | $ | 174,384 |   |
|                      |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ending balance:           |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| individually evaluated    |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for impairment            |   | $                  | 296    |   |                                  | $      | 13     |                                   |   | $      | -                        |   |                   | $      | -      |   |   | $ | - |   |   | $ | 825 |   |   | $ | 317 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 1,451 |   |
|                      |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ending balance:           |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| collectively evaluated    |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for impairment            |   | $                  | 66,718 |   |                                  | $      | 16,891 |                                   |   | $      | 12,769                   |   |                   | $      | 14,514 |   |   | $ | 25,085 |   |   | $ | 10,394 |   |   | $ | 16,456 |   |   | $ | 8,859 |   |   | $ | 629 |   |   | $ | 618 |   |   | $ | 172,933 |   |
|                      |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| At December 31, 2010      |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                      |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Allowance for loan losses |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                      |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ending Balance            |   | $                  | 233    |   |                                  | $      | 320    |                                   |   | $      | 60                       |   |                   | $      | 106    |   |   | $ | 431 |   |   | $ | 304 |   |   | $ | 93 |   |   | $ | 83 |   |   | $ | 6 |   |   | $ | 15 |   |   | $ | 1,651 |   |
|                      |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ending balance:           |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| individually evaluated    |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for impairment            |   | $                  | -      |   |                                  | $      | 36     |                                   |   | $      | -                        |   |                   | $      | -      |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 36 |   |
|                      |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ending balance:           |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| collectively evaluated    |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for impairment            |   | $                  | 233    |   |                                  | $      | 284    |                                   |   | $      | 60                       |   |                   | $      | 106    |   |   | $ | 431 |   |   | $ | 304 |   |   | $ | 93 |   |   | $ | 83 |   |   | $ | 6 |   |   | $ | 15 |   |   | $ | 1,615 |   |
|                      |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans                     |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                      |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ending Balance            |   | $                  | 70,685 |   |                                  | $      | 17,305 |                                   |   | $      | 11,892                   |   |                   | $      | 14,121 |   |   | $ | 27,688 |   |   | $ | 12,475 |   |   | $ | 16,725 |   |   | $ | 7,730 |   |   | $ | 733 |   |   | $ | 726 |   |   | $ | 180,080 |   |
|                      |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ending balance:           |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| individually evaluated    |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for impairment            |   | $                  | 208    |   |                                  | $      | 45     |                                   |   | $      | -                        |   |                   | $      | -      |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | 253 |   |
|                      |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ending balance:           |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| collectively evaluated    |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| for impairment            |   | $                  | 70,477 |   |                                  | $      | 17,260 |                                   |   | $      | 11,892                   |   |                   | $      | 14,121 |   |   | $ | 27,688 |   |   | $ | 12,475 |   |   | $ | 16,725 |   |   | $ | 7,730 |   |   | $ | 733 |   |   | $ | 726 |   |   | $ | 179,827 |   |

----

Table of Contents

|                                             |   | Loans delinquent for: |   |   |         |   |   |    |   |   |     |   |   | 90 days |   |   |   |   |
|--------------------------------------------------|--------|-----------------------|--------|--------|--------------|--------|--------|---------|--------|--------|----------|--------|--------|---------|--------|--------|--------|--------|
|                                             |   |                  |   |   |         |   |   | 90 days |   |   | Total    |   |   | Total   |   |   | Total  |   |   | or more |   |   | Non-accrual |   |
|                                             |   | 30 - 59 Days          |   |   | 60 - 89 Days |   |   | or more |   |   | Past Due |   |   | Current |   |   | Loans  |   |   | and accruing |   |   | Loans |   |
|                                             |   | (In thousands)        |   |
| At June 30, 2011:                                |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
|                                             |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| Residential loans:                               |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |
| One-to-four family                               |   | $                     | 364    |   |         | $      | 296    |    |   | $      | -        |   |   | $       | 660    |   |   | $      | 66,354 |   |   | $ | 67,014 |   |   | $ | - |   |   | $ | 296 |   |
| Home equity loans and  lines of credit |   |                  | 19     |   |         |   | -      |    |   |   | -        |   |   |    | 19     |   |   |   | 16,885 |   |   |   | 16,904 |   |   |   | - |   |   |   | 13 |   |
|                                             |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial loans:                                |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| One-to-four family investment property           |   |                  | -      |   |         |   | -      |    |   |   | -        |   |   |    | -      |   |   |   | 12,769 |   |   |   | 12,769 |   |   |   | - |   |   |   | - |   |
| Multi-family real estate                         |   |                  | -      |   |         |   | -      |    |   |   | -        |   |   |    | -      |   |   |   | 14,514 |   |   |   | 14,514 |   |   |   | - |   |   |   | - |   |
| Commercial real estate                           |   |                  | 312    |   |         |   | -      |    |   |   | -        |   |   |    | 312    |   |   |   | 24,773 |   |   |   | 25,085 |   |   |   | - |   |   |   | - |   |
| Commercial business                              |   |                  | -      |   |         |   | -      |    |   |   | 825      |   |   |    | 825    |   |   |   | 10,394 |   |   |   | 11,219 |   |   |   | - |   |   |   | 825 |   |
|                                             |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Construction loans:                              |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| One-to-four family                               |   |                  | -      |   |         |   | 732    |    |   |   | -        |   |   |    | 732    |   |   |   | 16,041 |   |   |   | 16,773 |   |   |   | - |   |   |   | 317 |   |
| Multi-family                                     |   |                  | 1,517  |   |         |   | -      |    |   |   | -        |   |   |    | 1,517  |   |   |   | 7,342 |   |   |   | 8,859 |   |   |   | - |   |   |   | - |   |
| Non-residential                                  |   |                  | -      |   |         |   | -      |    |   |   | -        |   |   |    | -      |   |   |   | 629 |   |   |   | 629 |   |   |   | - |   |   |   | - |   |
|                                             |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Consumer                                         |   |                  | 7      |   |         |   | -      |    |   |   | -        |   |   |    | 7      |   |   |   | 611 |   |   |   | 618 |   |   |   | - |   |   |   | - |   |
|                                             |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                                            |   | $                     | 2,219  |   |         | $      | 1,028  |    |   | $      | 825      |   |   | $       | 4,072  |   |   | $      | 170,312 |   |   | $ | 174,384 |   |   | $ | - |   |   | $ | 1,451 |   |
|                                             |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| At December 31, 2010:                            |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                             |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Residential loans:                               |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| One-to-four family                               |   | $                     | 391    |   |         | $      | 138    |    |   | $      | -        |   |   | $       | 529    |   |   | $      | 70,156 |   |   | $ | 70,685 |   |   | $ | - |   |   | $ | - |   |
| Home equity loans and  lines of credit |   |                  | 19     |   |         |   | -      |    |   |   | 45       |   |   |    | 64     |   |   |   | 17,241 |   |   |   | 17,305 |   |   |   | - |   |   |   | 45 |   |
|                                             |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial loans:                                |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| One-to-four family investment property           |   |                  | -      |   |         |   | -      |    |   |   | -        |   |   |    | -      |   |   |   | 11,892 |   |   |   | 11,892 |   |   |   | - |   |   |   | - |   |
| Multi-family real estate                         |   |                  | -      |   |         |   | -      |    |   |   | -        |   |   |    | -      |   |   |   | 14,121 |   |   |   | 14,121 |   |   |   | - |   |   |   | - |   |
| Commercial real estate                           |   |                  | 314    |   |         |   | -      |    |   |   | -        |   |   |    | 314    |   |   |   | 27,374 |   |   |   | 27,688 |   |   |   | - |   |   |   | - |   |
| Commercial business                              |   |                  | -      |   |         |   | -      |    |   |   | -        |   |   |    | -      |   |   |   | 12,475 |   |   |   | 12,475 |   |   |   | - |   |   |   | - |   |
|                                             |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Construction loans:                              |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| One-to-four family                               |   |                  | -      |   |         |   | -      |    |   |   | -        |   |   |    | -      |   |   |   | 16,725 |   |   |   | 16,725 |   |   |   | - |   |   |   | - |   |
| Multi-family                                     |   |                  | -      |   |         |   | -      |    |   |   | -        |   |   |    | -      |   |   |   | 7,730 |   |   |   | 7,730 |   |   |   | - |   |   |   | - |   |
| Non-residential                                  |   |                  | -      |   |         |   | -      |    |   |   | -        |   |   |    | -      |   |   |   | 733 |   |   |   | 733 |   |   |   | - |   |   |   | - |   |
|                                             |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Consumer                                         |   |                  | 9      |   |         |   | 1      |    |   |   | -        |   |   |    | 10     |   |   |   | 716 |   |   |   | 726 |   |   |   | - |   |   |   | - |   |
|                                             |   |                  |   |   |         |   |   |    |   |   |     |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                                            |   | $                     | 733    |   |         | $      | 139    |    |   | $      | 45       |   |   | $       | 917    |   |   | $      | 179,163 |   |   | $ | 180,080 |   |   | $ | - |   |   | $ | 45 |   |

----

Table of Contents

|                                             |   |           |   |   | Unpaid    |   |   |      |   |   | Average    |   |   | Interest   |   |
|--------------------------------------------------|--------|----------------|--------|--------|-----------|--------|--------|-----------|--------|--------|------------|--------|--------|------------|--------|
|                                             |   | Recorded       |   |   | Principal |   |   | Related   |   |   | Recorded   |   |   | Income     |   |
|                                             |   | Investment     |   |   | Balance   |   |   | Allowance |   |   | Investment |   |   | Recognized |   |
|                                             |   | (In thousands) |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |
| At June 30, 2011                                 |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |
| Impaired loans without a valuation allowance     |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |
| Residential loans:                               |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |
| One-to-four family                               |   | $              | -      |   |      | $      | -      |      |   | $      | -          |   |   | $          | -      |   |   | $ | - |   |
| Home equity loans and  lines of credit |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Commercial loans:                                |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| One-to-four family investment property           |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Multi-family real estate                         |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Commercial real estate                           |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Commercial business                              |   |           | 825    |   |      |   | 825    |      |   |   | -          |   |   |       | 118    |   |   |   | - |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Construction loans:                              |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| One-to-four family                               |   |           | 317    |   |      |   | 317    |      |   |   | -          |   |   |       | 45     |   |   |   | 19 |   |
| Multi-family                                     |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Non-residential                                  |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Consumer                                         |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Total impaired with no related allowance         |   | $              | 1,142  |   |      | $      | 1,142  |      |   | $      | -          |   |   | $          | 163    |   |   | $ | 19 |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Impaired loans with a valuation allowance        |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Residential loans:                               |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| One-to-four family                               |   | $              | 296    |   |      | $      | 296    |      |   | $      | 41         |   |   | $          | 42     |   |   | $ | 1 |   |
| Home equity loans and  lines of credit |   |           | 13     |   |      |   | 13     |      |   |   | 13         |   |   |       | 2      |   |   |   | - |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Commercial loans:                                |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| One-to-four family investment property           |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Multi-family real estate                         |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Commercial real estate                           |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Commercial business                              |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Construction loans:                              |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| One-to-four family                               |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Multi-family                                     |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Non-residential                                  |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Consumer                                         |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Total with an allowance recorded                 |   | $              | 309    |   |      | $      | 309    |      |   | $      | 54         |   |   | $          | 44     |   |   | $ | 1 |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| At December 31, 2010                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Impaired loans without a valuation allowance     |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Residential loans:                               |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| One-to-four family                               |   | $              | 208    |   |      | $      | 208    |      |   | $      | -          |   |   | $          | 209    |   |   | $ | 5 |   |
| Home equity loans and  lines of credit |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Commercial loans:                                |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| One-to-four family investment property           |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Multi-family real estate                         |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Commercial real estate                           |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Commercial business                              |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Construction loans:                              |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| One-to-four family                               |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Multi-family                                     |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Non-residential                                  |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Consumer                                         |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Total impaired with no related allowance         |   | $              | 208    |   |      | $      | 208    |      |   | $      | -          |   |   | $          | 209    |   |   | $ | 5 |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Impaired loans with a valuation allowance        |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Residential loans:                               |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| One-to-four family                               |   | $              | -      |   |      | $      | -      |      |   | $      | -          |   |   | $          | -      |   |   | $ | - |   |
| Home equity loans and  lines of credit |   |           | 45     |   |      |   | 45     |      |   |   | 36         |   |   |       | 47     |   |   |   | 1 |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Commercial loans:                                |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| One-to-four family investment property           |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Multi-family real estate                         |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Commercial real estate                           |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Commercial business                              |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Construction loans:                              |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| One-to-four family                               |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Multi-family                                     |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
| Non-residential                                  |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Consumer                                         |   |           | -      |   |      |   | -      |      |   |   | -          |   |   |       | -      |   |   |   | - |   |
|                                             |   |           |   |   |      |   |   |      |   |   |       |   |   |       |   |   |   |   |   |   |
| Total with an allowance recorded                 |   | $              | 45     |   |      | $      | 45     |      |   | $      | 36         |   |   | $          | 47     |   |   | $ | 1 |   |

----

Table of Contents

|                  |   | Residential        |   |   | Commercial                            |   |   | Construction                           |   |   |                     |   |   |                   |   |
|-----------------------|--------|--------------------|--------|--------|---------------------------------------|--------|--------|----------------------------------------|--------|--------|--------------------------|--------|--------|------------------------|--------|
|                  |   | One-to-four family |   |   | Home equity loans and lines of credit |   |   | One-to-four family investment property |   |   | Multi-family real estate |   |   | Commercial real estate |   |   | Commercial business |   |   | One-to-four family |   |   | Multi-family |   |   | Non-residential |   |   | Consumer |   |   | Total |   |
|                  |   | (In thousands)     |   |
| At June 30, 2011:     |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                  |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Classification:       |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Pass                  |   | $                  | 66,718 |   |                                  | $      | 16,891 |                                   |   | $      | 12,375                   |   |   | $                      | 14,514 |   |   | $ | 21,301 |   |   | $ | 9,456 |   |   | $ | 15,234 |   |   | $ | 7,342 |   |   | $ | 629 |   |   | $ | 618 |   |   | $ | 165,078 |   |
| Special mention       |   |               | -      |   |                                  |   | -      |                                   |   |   | 394                      |   |   |                   | -      |   |   |   | 464 |   |   |   | 298 |   |   |   | - |   |   |   | 1,517 |   |   |   | - |   |   |   | - |   |   |   | 2,673 |   |
| Substandard           |   |               | 296    |   |                                  |   | 13     |                                   |   |   | -                        |   |   |                   | -      |   |   |   | 3,320 |   |   |   | 1,465 |   |   |   | 1,539 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 6,633 |   |
| Doubtful              |   |               | -      |   |                                  |   | -      |                                   |   |   | -                        |   |   |                   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Loss                  |   |               | -      |   |                                  |   | -      |                                   |   |   | -                        |   |   |                   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Total loans           |   | $                  | 67,014 |   |                                  | $      | 16,904 |                                   |   | $      | 12,769                   |   |   | $                      | 14,514 |   |   | $ | 25,085 |   |   | $ | 11,219 |   |   | $ | 16,773 |   |   | $ | 8,859 |   |   | $ | 629 |   |   | $ | 618 |   |   | $ | 174,384 |   |
|                  |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| At December 31, 2010: |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                  |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Classification:       |   |               |   |   |                                  |   |   |                                   |   |   |                     |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Pass                  |   | $                  | 70,477 |   |                                  | $      | 17,260 |                                   |   | $      | 11,495                   |   |   | $                      | 14,121 |   |   | $ | 24,119 |   |   | $ | 12,475 |   |   | $ | 16,725 |   |   | $ | 7,730 |   |   | $ | 733 |   |   | $ | 726 |   |   | $ | 175,861 |   |
| Special mention       |   |               | -      |   |                                  |   | -      |                                   |   |   | 397                      |   |   |                   | -      |   |   |   | 3,569 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 3,966 |   |
| Substandard           |   |               | 208    |   |                                  |   | 45     |                                   |   |   | -                        |   |   |                   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 253 |   |
| Doubtful              |   |               | -      |   |                                  |   | -      |                                   |   |   | -                        |   |   |                   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Loss                  |   |               | -      |   |                                  |   | -      |                                   |   |   | -                        |   |   |                   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Total loans           |   | $                  | 70,685 |   |                                  | $      | 17,305 |                                   |   | $      | 11,892                   |   |   | $                      | 14,121 |   |   | $ | 27,688 |   |   | $ | 12,475 |   |   | $ | 16,725 |   |   | $ | 7,730 |   |   | $ | 733 |   |   | $ | 726 |   |   | $ | 180,080 |   |

----

Table of Contents

----

Table of Contents

|                                    |   | Six Months Ended |   |
|-----------------------------------------|--------|------------------|--------|
|                                    |   | June 30,         |   |
|                                    |   | 2011             |   |   | 2010 |   |
|                                    |   | (In thousands)   |   |
|                                    |   |             |   |   |   |   |
| Mortgage servicing rights:              |   |             |   |   |   |   |
| Balance at beginning of period          |   | $                | 424    |   |   | $ | 183 |   |
| Additions                               |   |             | 54     |   |   |   | 47 |   |
| Disposals                               |   |             | -      |   |   |   | - |   |
| Amortization                            |   |             | (51    | ) |   |   | (8 | ) |
| Balance at end of period                |   |             | 427    |   |   |   | 222 |   |
|                                    |   |             |   |   |   |   |   |   |
| Valuation allowances:                   |   |             |   |   |   |   |   |   |
| Balance at beginning of period          |   |             | 4      |   |   |   | - |   |
| Additions                               |   |             | 12     |   |   |   | - |   |
| Recoveries                              |   |             | -      |   |   |   | - |   |
| Write-downs                             |   |             | -      |   |   |   | - |   |
| Balance at end of period                |   |             | 16     |   |   |   | - |   |
|                                    |   |             |   |   |   |   |   |   |
| Mortgage servicing assets, net          |   | $                | 411    |   |   | $ | 222 |   |
|                                    |   |             |   |   |   |   |   |   |
| Fair value of mortgage servicing assets |   | $                | 455    |   |   | $ | 237 |   |

|   | (7) | Secured Borrowings and Collateral |
|--------|-----|-----------------------------------|

|   | (8) | Fair Value Measurements |
|--------|-----|-------------------------|

----

Table of Contents

|                          |   |           |   |   |    |   |   |    |   |   |          |   |
|-------------------------------|--------|----------------|--------|--------|---------|--------|--------|---------|--------|--------|---------------|--------|
|                          |   |           |   |   |    |   |   |    |   |   | Assets        |   |
|                          |   | Level 1        |   |   | Level 2 |   |   | Level 3 |   |   | at Fair Value |   |
|                          |   | (In thousands) |   |
| At June 30, 2011              |   |           |   |   |    |   |   |    |   |   |          |   |
|                          |   |           |   |   |    |   |   |    |   |   |          |   |
| Assets                        |   |           |   |   |    |   |   |    |   |   |          |   |
| Securities available for sale |   | $              | -      |   |    | $      | 6,420  |    |   | $      | -             |   |   | $ | 6,420 |   |
|                          |   |           |   |   |    |   |   |    |   |   |          |   |   |   |   |   |
|                          |   |           |   |   |    |   |   |    |   |   |          |   |   |   |   |   |
| At December 31, 2010          |   |           |   |   |    |   |   |    |   |   |          |   |   |   |   |   |
|                          |   |           |   |   |    |   |   |    |   |   |          |   |   |   |   |   |
| Assets                        |   |           |   |   |    |   |   |    |   |   |          |   |   |   |   |   |
| Securities available for sale |   | $              | -      |   |    | $      | 7,219  |    |   | $      | -             |   |   | $ | 7,219 |   |

|                    |   |           |   |   |    |   |   |    |   |   | Assets        |   |
|-------------------------|--------|----------------|--------|--------|---------|--------|--------|---------|--------|--------|---------------|--------|
|                    |   | Level 1        |   |   | Level 2 |   |   | Level 3 |   |   | at Fair Value |   |
|                    |   | (In thousands) |   |   |    |   |
| At June 30, 2011        |   |           |   |   |    |   |   |    |   |   |          |   |
|                    |   |           |   |   |    |   |   |    |   |   |          |   |
| Impaired loans          |   | $              | -      |   |    | $      | -      |    |   | $      | 255           |   |   | $ | 255 |   |
| Other real estate owned |   |           | -      |   |    |   | -      |    |   |   | 53            |   |   |   | 53 |   |
|                    |   | $              | -      |   |    | $      | -      |    |   | $      | 308           |   |   | $ | 308 |   |

|                    |   |           |   |   | Assets  |   |
|-------------------------|--------|----------------|--------|--------|---------|--------|
|                    |   | Level 1        |   |   | Level 2 |   |   | Level 3 |   |   | at Fair Value |   |
|                    |   | (In thousands) |   |   |    |   |
| At December 31, 2010    |   |           |   |   |    |   |   |   |   |   |   |   |
|                    |   |           |   |   |    |   |   |   |   |   |   |   |
| Impaired loans          |   | $              | -      |   |    | $      | - |   |   | $ | 9 |   |   | $ | 9 |   |
| Other real estate owned |   |           | -      |   |    |   | - |   |   |   | 53 |   |   |   | 53 |   |
|                    |   | $              | -      |   |    | $      | - |   |   | $ | 62 |   |   | $ | 62 |   |

----

Table of Contents

|                                    |   | Fair Value Measurements               |     |
|-----------------------------------------|--------|---------------------------------------|----------|
|                                    |   | Using Significant Unobservable Inputs |     |
|                                    |   | Level 3                               |     |
|                                    |   | Impaired Loans                        |     |   | Other Real Estate Owned |   |
|                                    |   |                                  |     |   |   |   |
| Beginning balance, December 31, 2010    |   | $                                     | 9        |   |   | $ | 53 |   |
| Transfers in to level 3            |   |                                  | 255      |   |   |   | - |   |
| Decrease due to loans charged off  |   |                                  |  (9 | )  |   |   |  - |   |
| Ending balance, June 30, 2011           |   | $                                     | 255      |   |   | $ | 53 |   |

----

Table of Contents

|                                  |   | June 30, 2011  |    |   | December 31, 2010 |   |
|---------------------------------------|--------|----------------|---------|--------|-------------------|--------|
|                                  |   | Carrying       |    |   | Fair              |   |   | Carrying |   |   | Fair |   |
|                                  |   | Amount         |    |   | Value             |   |   | Amount |   |   | Value |   |
|                                  |   | (In thousands) |    |
| Financial assets:                     |   |           |    |   |              |   |   |   |   |   |   |   |
| Cash and cash equivalents             |   | $              | 6,780   |   |              | $      | 6,780 |   |   | $ | 3,298 |   |   | $ | 3,298 |   |
| Securities available for sale         |   |           | 6,420   |   |              |   | 6,420 |   |   |   | 7,219 |   |   |   | 7,219 |   |
| Securities held to maturity           |   |           | 2,730   |   |              |   | 2,910 |   |   |   | 3,202 |   |   |   | 3,398 |   |
| FHLB stock                            |   |           | 3,111   |   |              |   | 3,111 |   |   |   | 3,111 |   |   |   | 3,111 |   |
| Loans held for sale                   |   |           | 237     |   |              |   | 239 |   |   |   | 685 |   |   |   | 693 |   |
| Loans, net                            |   |           | 172,846 |   |              |   | 175,714 |   |   |   | 178,524 |   |   |   | 180,972 |   |
| Accrued interest receivable           |   |           | 711     |   |              |   | 711 |   |   |   | 777 |   |   |   | 777 |   |
| Capitalized mortgage servicing rights |   |           | 411     |   |              |   | 455 |   |   |   | 420 |   |   |   | 461 |   |
|                                  |   |           |    |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Financial liabilities:                |   |           |    |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                              |   |           | 151,200 |   |              |   | 151,521 |   |   |   | 151,463 |   |   |   | 151,859 |   |
| Securities sold under agreements      |   |           |    |   |              |   |   |   |   |   |   |   |   |   |   |   |
| to repurchase                         |   |           | 422     |   |              |   | 422 |   |   |   | 491 |   |   |   | 491 |   |
| Short-term FHLB advances              |   |           | 3,000   |   |              |   | 3,000 |   |   |   | 3,500 |   |   |   | 3,500 |   |
| Long-term FHLB advances               |   |           | 25,152  |   |              |   | 25,715 |   |   |   | 28,182 |   |   |   | 28,774 |   |
| Mortgagers' escrow accounts           |   |           | 588     |   |              |   | 588 |   |   |   | 598 |   |   |   | 598 |   |
| Accrued interest payable              |   |           | 77      |   |              |   | 77 |   |   |   | 88 |   |   |   | 88 |   |

----

Table of Contents

|   | (9) | Equity Incentive Plan |
|--------|-----|-----------------------|

|                             |   | Stock Options   |   |
|----------------------------------|--------|-----------------|--------|
|                             |   | Number ofShares |   |   | WeightedAverageExercise Price |   |   | WeightedAverageRemainingContractualTerm (years) |   |   | AggregateIntrinsicValue |   |
|                             |   |            |   |   |   |   |   |   |   |   |   |   |
| Outstanding at beginning of year |   |            | 24,000 |   |   | $ | 6.72 |   |   |   |   |   |   |   |
| Granted                          |   |            | 25,998 |   |   | $ | 6.88 |   |   |   |   |   |   |   |
| Forfeited                        |   |            | (7,650 | ) |   | $ | 6.81 |   |   |   |   |   |   |   |
|                             |   |            |   |   |   |   |   |   |   |   |   |   |   |   |
| Outstanding at end of period     |   |            | 42,348 |   |   | $ | 6.80 |   |   |   | 9.17 |   |   | $ | - |   |
|                             |   |            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Exercisable at end of period     |   |            | 5,796  |   |   | $ | 6.72 |   |   |   | 8.65 |   |   | $ | - |   |

|                             |   | Non-vested       |   |
|----------------------------------|--------|------------------|--------|
|                             |   | Restricted Stock |   |
|                             |   | Number ofShares  |   |   | WeightedAverageGrant DateValue |   |
|                             |   |             |   |   |   |   |
| Outstanding at beginning of year |   |             | 24,000 |   |   | $ | 5.20 |   |
| Granted                          |   |             | 25,998 |   |   | $ | 6.50 |   |
| Forfeited                        |   |             | (7,650 | ) |   | $ | 5.92 |   |
| Vested                           |   |             | (5,796 | ) |   | $ | 5.20 |   |
|                             |   |             |   |   |   |   |   |   |
| Outstanding at end of period     |   |             | 36,552 |   |   | $ | 5.97 |   |

----

Table of Contents

| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
|---------|---------------------------------------------------------------------------------------------|

----

Table of Contents

----

Table of Contents

|                                   |   | At                     |    |   | At           |   |
|----------------------------------------|--------|------------------------|---------|--------|--------------|--------|
|                                   |   | June 30,               |    |   | December 31, |   |
|                                   |   | 2011                   |    |   | 2010         |   |
|                                   |   | Amount                 |    |   | Percent      |   |   | Amount |   |   | Percent |   |
|                                   |   | (Dollars in thousands) |    |
|                                   |   |                   |    |   |         |   |   |   |   |   |   |   |
| Residential loans:                     |   |                   |    |   |         |   |   |   |   |   |   |   |
| One-to-four family                     |   | $                      | 67,014  |   |         |   | 38.44 | % |   | $ | 70,685 |   |   |   | 39.25 | % |
| Home equity loans                      |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| and lines of credit                    |   |                   | 16,904  |   |         |   | 9.69 |   |   |   | 17,305 |   |   |   | 9.61 |   |
| Total residential mortgage loans       |   |                   | 83,918  |   |         |   | 48.13 |   |   |   | 87,990 |   |   |   | 48.86 |   |
|                                   |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| Commercial loans:                      |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| One-to-four family investment property |   |                   | 12,769  |   |         |   | 7.32 |   |   |   | 11,892 |   |   |   | 6.60 |   |
| Multi-family real estate               |   |                   | 14,514  |   |         |   | 8.32 |   |   |   | 14,121 |   |   |   | 7.84 |   |
| Commercial real estate                 |   |                   | 25,085  |   |         |   | 14.39 |   |   |   | 27,688 |   |   |   | 15.38 |   |
| Commercial business                    |   |                   | 11,219  |   |         |   | 6.43 |   |   |   | 12,475 |   |   |   | 6.93 |   |
| Total commercial loans                 |   |                   | 63,587  |   |         |   | 36.46 |   |   |   | 66,176 |   |   |   | 36.75 |   |
|                                   |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| Construction loans:                    |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| One-to-four family                     |   |                   | 16,773  |   |         |   | 9.62 |   |   |   | 16,725 |   |   |   | 9.29 |   |
| Multi-family                           |   |                   | 8,859   |   |         |   | 5.08 |   |   |   | 7,730 |   |   |   | 4.29 |   |
| Non-residential                        |   |                   | 629     |   |         |   | 0.36 |   |   |   | 733 |   |   |   | 0.41 |   |
| Total construction loans               |   |                   | 26,261  |   |         |   | 15.06 |   |   |   | 25,188 |   |   |   | 13.99 |   |
|                                   |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| Consumer                               |   |                   | 618     |   |         |   | 0.35 |   |   |   | 726 |   |   |   | 0.40 |   |
|                                   |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| Total loans:                           |   |                   | 174,384 |   |         |   | 100.00 | % |   |   | 180,080 |   |   |   | 100.00 | % |
|                                   |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| Other items:                           |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| Net deferred loan costs                |   |                   | 122     |   |         |   |   |   |   |   | 95 |   |   |   |   |   |
| Allowance for loan losses              |   |                   | (1,660  | )      |         |   |   |   |   |   | (1,651 | ) |   |   |   |   |
|                                   |   |                   |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| Total loans, net                       |   | $                      | 172,846 |   |         |   |   |   |   | $ | 178,524 |   |   |   |   |   |

----

Table of Contents

|                                        |   | At June 30,            |   |   | At December 31, |   |
|---------------------------------------------|--------|------------------------|--------|--------|-----------------|--------|
|                                        |   | 2011                   |   |   | 2010            |   |
|                                        |   | (Dollars in thousands) |   |
|                                        |   |                   |   |   |            |   |
| Non-accrual loans:                          |   |                   |   |   |            |   |
| Residential mortgage loans                  |   | $                      | 309    |   |            | $      | 45 |   |
| Commercial loans                            |   |                   | 825    |   |            |   | - |   |
| Construction loans                          |   |                   | 317    |   |            |   | - |   |
| Consumer                                    |   |                   | -      |   |            |   | - |   |
|                                        |   |                   |   |   |            |   |   |   |
| Total non-accrual loans                     |   |                   | 1,451  |   |            |   | 45 |   |
|                                        |   |                   |   |   |            |   |   |   |
| Loans greater than 90 days delinquent       |   |                   |   |   |            |   |   |   |
| and still accruing:                         |   |                   |   |   |            |   |   |   |
| Residential mortgage loans                  |   |                   | -      |   |            |   | - |   |
| Commercial loans                            |   |                   | -      |   |            |   | - |   |
| Construction loans                          |   |                   | -      |   |            |   | - |   |
| Consumer                                    |   |                   | -      |   |            |   | - |   |
|                                        |   |                   |   |   |            |   |   |   |
| Total loans greater than 90 days delinquent |   |                   |   |   |            |   |   |   |
| and still accruing                          |   |                   | -      |   |            |   | - |   |
|                                        |   |                   |   |   |            |   |   |   |
| Restructured loans                          |   |                   | -      |   |            |   | 208 |   |
|                                        |   |                   |   |   |            |   |   |   |
| Total non-performing loans                  |   |                   | 1,451  |   |            |   | 253 |   |
|                                        |   |                   |   |   |            |   |   |   |
| Real estate owned                           |   |                   | 53     |   |            |   | 53 |   |
|                                        |   |                   |   |   |            |   |   |   |
| Total non-performing assets                 |   | $                      | 1,504  |   |            | $      | 306 |   |
|                                        |   |                   |   |   |            |   |   |   |
| Ratios:                                     |   |                   |   |   |            |   |   |   |
| Non-performing loans to total loans         |   |                   | 0.83   | %      |            |   | 0.14 | % |
| Non-performing assets to total assets       |   |                   | 0.75   | %      |            |   | 0.15 | % |

----

Table of Contents

----

Table of Contents

----

Table of Contents

|                                   |   | At June 30, |    |   | Three Months Ended June 30, |   |
|----------------------------------------|--------|-------------|---------|--------|-----------------------------|--------|
|                                   |   | 2011        |    |   | 2011                        |   |   | 2010 |   |
|                                   |   |        |    |   | Weighted                    |   |   | Average |   |   |   |   |   |   |   |   | Average |   |   |   |   |   |   |   |
|                                   |   | Outstanding |    |   | Average                     |   |   | Outstanding |   |   |   |   |   | Yield/ |   |   | Outstanding |   |   |   |   |   | Yield/ |   |
|                                   |   | Balance     |    |   | Rate                        |   |   | Balance |   |   | Interest |   |   | Rate |   |   | Balance |   |   | Interest |   |   | Rate |   |
|                                   |   |        |    |   |                        |   |   | (Dollars in thousands) |   |
| Interest-earning assets:               |   |        |    |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans                                  |   | $           | 174,743 |   |                        |   | 5.82 | % |   | $ | 178,045 |   |   | $ | 2,685 |   |   |   | 6.03 | % |   | $ | 177,230 |   |   | $ | 2,656 |   |   |   | 5.99 | % |
| Investment securities (1)              |   |        | 12,261  |   |                        |   | 3.03 | % |   |   | 12,107 |   |   |   | 92 |   |   |   | 3.04 | % |   |   | 18,213 |   |   |   | 149 |   |   |   | 3.27 | % |
| Short-term investments                 |   |        | 4,920   |   |                        |   | 0.05 | % |   |   | 819 |   |   |   | - |   |   |   | 0.00 | % |   |   | 3,041 |   |   |   | 1 |   |   |   | 0.13 | % |
| Total interest-earning assets          |   |        | 191,924 |   |                        |   | 5.49 | % |   |   | 190,971 |   |   |   | 2,777 |   |   |   | 5.82 | % |   |   | 198,484 |   |   |   | 2,806 |   |   |   | 5.65 | % |
| Non-interest-earning assets            |   |        | 9,002   |   |                        |   |   |   |   |   | 10,986 |   |   |   | - |   |   |   |   |   |   |   | 10,464 |   |   |   | - |   |   |   |   |   |
| Total assets                           |   | $           | 200,926 |   |                        |   |   |   |   | $ | 201,957 |   |   |   | 2,777 |   |   |   |   |   |   | $ | 208,948 |   |   |   | 2,806 |   |   |   |   |   |
|                                   |   |        |    |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:          |   |        |    |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Savings deposits                       |   | $           | 11,430  |   |                        |   | 0.22 | % |   | $ | 11,627 |   |   |   | 6 |   |   |   | 0.21 | % |   | $ | 12,053 |   |   |   | 7 |   |   |   | 0.23 | % |
| NOW accounts                           |   |        | 14,869  |   |                        |   | 0.43 | % |   |   | 14,489 |   |   |   | 16 |   |   |   | 0.44 | % |   |   | 13,289 |   |   |   | 24 |   |   |   | 0.72 | % |
| Money market accounts                  |   |        | 54,921  |   |                        |   | 0.93 | % |   |   | 55,878 |   |   |   | 129 |   |   |   | 0.92 | % |   |   | 47,290 |   |   |   | 151 |   |   |   | 1.28 | % |
| Certificates of deposit                |   |        | 50,723  |   |                        |   | 2.04 | % |   |   | 50,706 |   |   |   | 262 |   |   |   | 2.07 | % |   |   | 56,215 |   |   |   | 355 |   |   |   | 2.53 | % |
| Total interest-bearing deposits        |   |        | 131,943 |   |                        |   | 1.24 | % |   |   | 132,700 |   |   |   | 413 |   |   |   | 1.24 | % |   |   | 128,847 |   |   |   | 537 |   |   |   | 1.67 | % |
| FHLB advances                          |   |        | 28,152  |   |                        |   | 3.09 | % |   |   | 30,763 |   |   |   | 233 |   |   |   | 3.03 | % |   |   | 43,534 |   |   |   | 335 |   |   |   | 3.08 | % |
| Repurchase agreements                  |   |        | 422     |   |                        |   | 0.50 | % |   |   | 382 |   |   |   | - |   |   |   | 0.00 | % |   |   | 391 |   |   |   | - |   |   |   | 0.00 | % |
| Total interest-bearing liabilities     |   |        | 160,517 |   |                        |   | 1.56 | % |   |   | 163,845 |   |   |   | 646 |   |   |   | 1.58 | % |   |   | 172,772 |   |   |   | 872 |   |   |   | 2.02 | % |
| Non-interest-bearing liabilities:      |   |        |    |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand deposits                        |   |        | 19,257  |   |                        |   |   |   |   |   | 16,766 |   |   |   |   |   |   |   |   |   |   |   | 15,624 |   |   |   |   |   |   |   |   |   |
| Other non-interest-bearing liabilities |   |        | 1,626   |   |                        |   |   |   |   |   | 1,746 |   |   |   |   |   |   |   |   |   |   |   | 2,458 |   |   |   |   |   |   |   |   |   |
| Total liabilities                      |   |        | 181,400 |   |                        |   |   |   |   |   | 182,357 |   |   |   |   |   |   |   |   |   |   |   | 190,854 |   |   |   |   |   |   |   |   |   |
| Stockholders' equity                   |   |        | 19,526  |   |                        |   |   |   |   |   | 19,600 |   |   |   |   |   |   |   |   |   |   |   | 18,094 |   |   |   |   |   |   |   |   |   |
| Total liabilities and equity           |   | $           | 200,926 |   |                        |   |   |   |   | $ | 201,957 |   |   |   |   |   |   |   |   |   |   | $ | 208,948 |   |   |   |   |   |   |   |   |   |
|                                   |   |        |    |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net interest income                    |   |        |    |   |                        |   |   |   |   |   |   |   |   | $ | 2,131 |   |   |   |   |   |   |   |   |   |   | $ | 1,934 |   |   |   |   |   |
| Net interest rate spread (2)           |   |        |    |   |                        |   | 3.93 | % |   |   |   |   |   |   |   |   |   |   | 4.24 | % |   |   |   |   |   |   |   |   |   |   | 3.63 | % |
| Net interest-earning assets (3)        |   | $           | 31,407  |   |                        |   |   |   |   | $ | 27,126 |   |   |   |   |   |   |   |   |   |   | $ | 25,712 |   |   |   |   |   |   |   |   |   |
| Net interest margin (4)                |   |        |    |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   | 4.46 | % |   |   |   |   |   |   |   |   |   |   | 3.90 | % |
| Average of interest-earning            |   |        |    |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| assets to interest-bearing             |   |        |    |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| liabilities                            |   |        |    |   |                        |   | 119.57 | % |   |   |   |   |   |   |   |   |   |   | 116.56 | % |   |   |   |   |   |   |   |   |   |   | 114.88 | % |

----

| (1)  | Consists entirely of taxable investment securities. |
|-----------|-----------------------------------------------------|

| (2)  | Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities. |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3)  | Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities. |
|-----------|---------------------------------------------------------------------------------------------------------------|

| (4)  | Net interest margin represents net interest income divided by average total interest-earning assets. |
|-----------|------------------------------------------------------------------------------------------------------|

----

Table of Contents

|                               |   | For the Three Months Ended June 30, 2011 |   |
|------------------------------------|--------|------------------------------------------|--------|
|                               |   | Compared to the Three Months Ended       |   |
|                               |   | June 30, 2010                            |   |
|                               |   | Increase (Decrease) Due to               |   |   |   |   |
|                               |   | Volume                                   |   |   | Rate |   |   | Net |   |
|                               |   | (In thousands)                           |   |
|                               |   |                                     |   |   |   |   |   |   |   |
| Interest-earning assets:           |   |                                     |   |   |   |   |   |   |   |
| Loans                              |   | $                                        | 12     |   |   | $ | 17 |   |   | $ | 29 |   |
| Investment securities              |   |                                     | (50    | ) |   |   | (7 | ) |   |   | (57 | ) |
| Short-term investments             |   |                                     | (1     | ) |   |   | - |   |   |   | (1 | ) |
|                               |   |                                     |   |   |   |   |   |   |   |   |   |   |
| Total interest-earning assets      |   |                                     | (39    | ) |   |   | 10 |   |   |   | (29 | ) |
|                               |   |                                     |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:      |   |                                     |   |   |   |   |   |   |   |   |   |   |
| Savings deposits                   |   |                                     | -      |   |   |   | (1 | ) |   |   | (1 | ) |
| NOW accounts                       |   |                                     | 2      |   |   |   | (10 | ) |   |   | (8 | ) |
| Money market accounts              |   |                                     | 27     |   |   |   | (49 | ) |   |   | (22 | ) |
| Certificates of deposit            |   |                                     | (35    | ) |   |   | (58 | ) |   |   | (93 | ) |
|                               |   |                                     |   |   |   |   |   |   |   |   |   |   |
| Total interest-bearing deposits    |   |                                     | (6     | ) |   |   | (118 | ) |   |   | (124 | ) |
|                               |   |                                     |   |   |   |   |   |   |   |   |   |   |
| FHLB advances                      |   |                                     | (98    | ) |   |   | (4 | ) |   |   | (102 | ) |
|                               |   |                                     |   |   |   |   |   |   |   |   |   |   |
| Total interest-bearing liabilities |   |                                     | (104   | ) |   |   | (122 | ) |   |   | (226 | ) |
|                               |   |                                     |   |   |   |   |   |   |   |   |   |   |
| Change in net interest income      |   | $                                        | 65     |   |   | $ | 132 |   |   | $ | 197 |   |

----

Table of Contents

----

Table of Contents

----

Table of Contents

|                                   |   | At June 30, |    |   | Six Months Ended June 30, |   |
|----------------------------------------|--------|-------------|---------|--------|---------------------------|--------|
|                                   |   | 2011        |    |   | 2011                      |   |   | 2010 |   |
|                                   |   |        |    |   | Weighted                  |   |   | Average |   |   |   |   |   |   |   |   | Average |   |   |   |   |   |   |   |
|                                   |   | Outstanding |    |   | Average                   |   |   | Outstanding |   |   |   |   |   | Yield/ |   |   | Outstanding |   |   |   |   |   | Yield/ |   |
|                                   |   | Balance     |    |   | Rate                      |   |   | Balance |   |   | Interest |   |   | Rate |   |   | Balance |   |   | Interest |   |   | Rate |   |
|                                   |   |        |    |   |                      |   |   | (Dollars in thousands) |   |
| Interest-earning assets:               |   |        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans                                  |   | $           | 174,743 |   |                      |   | 5.82 | % |   | $ | 180,411 |   |   | $ | 5,383 |   |   |   | 5.97 | % |   | $ | 174,598 |   |   | $ | 5,193 |   |   |   | 5.95 | % |
| Investment securities (1)              |   |        | 12,261  |   |                      |   | 3.03 | % |   |   | 12,495 |   |   |   | 191 |   |   |   | 3.06 | % |   |   | 18,499 |   |   |   | 306 |   |   |   | 3.31 | % |
| Short-term investments                 |   |        | 4,920   |   |                      |   | 0.05 | % |   |   | 625 |   |   |   | - |   |   |   | 0.00 | % |   |   | 2,609 |   |   |   | 1 |   |   |   | 0.08 | % |
| Total interest-earning assets          |   |        | 191,924 |   |                      |   | 5.49 | % |   |   | 193,531 |   |   |   | 5,574 |   |   |   | 5.76 | % |   |   | 195,706 |   |   |   | 5,500 |   |   |   | 5.62 | % |
| Non-interest-earning assets            |   |        | 9,002   |   |                      |   |   |   |   |   | 10,361 |   |   |   | - |   |   |   |   |   |   |   | 10,239 |   |   |   | - |   |   |   |   |   |
| Total assets                           |   | $           | 200,926 |   |                      |   |   |   |   | $ | 203,892 |   |   |   | 5,574 |   |   |   |   |   |   | $ | 205,945 |   |   |   | 5,500 |   |   |   |   |   |
|                                   |   |        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:          |   |        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Savings deposits                       |   | $           | 11,430  |   |                      |   | 0.22 | % |   | $ | 11,892 |   |   |   | 12 |   |   |   | 0.20 | % |   | $ | 12,062 |   |   |   | 12 |   |   |   | 0.20 | % |
| NOW accounts                           |   |        | 14,869  |   |                      |   | 0.43 | % |   |   | 14,507 |   |   |   | 32 |   |   |   | 0.44 | % |   |   | 12,780 |   |   |   | 37 |   |   |   | 0.58 | % |
| Money market accounts                  |   |        | 54,921  |   |                      |   | 0.93 | % |   |   | 56,641 |   |   |   | 258 |   |   |   | 0.91 | % |   |   | 43,336 |   |   |   | 252 |   |   |   | 1.16 | % |
| Certificates of deposit                |   |        | 50,723  |   |                      |   | 2.04 | % |   |   | 50,673 |   |   |   | 528 |   |   |   | 2.08 | % |   |   | 57,329 |   |   |   | 748 |   |   |   | 2.61 | % |
| Total interest-bearing deposits        |   |        | 131,943 |   |                      |   | 1.24 | % |   |   | 133,713 |   |   |   | 830 |   |   |   | 1.24 | % |   |   | 125,507 |   |   |   | 1,049 |   |   |   | 1.67 | % |
| FHLB advances                          |   |        | 28,152  |   |                      |   | 3.09 | % |   |   | 32,516 |   |   |   | 485 |   |   |   | 2.98 | % |   |   | 44,217 |   |   |   | 686 |   |   |   | 3.10 | % |
| Repurchase agreements                  |   |        | 422     |   |                      |   | 0.50 | % |   |   | 363 |   |   |   | 1 |   |   |   | 0.55 | % |   |   | 401 |   |   |   | 1 |   |   |   | 0.50 | % |
| Total interest-bearing liabilities     |   |        | 160,517 |   |                      |   | 1.56 | % |   |   | 166,592 |   |   |   | 1,316 |   |   |   | 1.58 | % |   |   | 170,125 |   |   |   | 1,736 |   |   |   | 2.04 | % |
| Non-interest-bearing liabilities:      |   |        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand deposits                        |   |        | 19,257  |   |                      |   |   |   |   |   | 16,034 |   |   |   |   |   |   |   |   |   |   |   | 15,729 |   |   |   |   |   |   |   |   |   |
| Other non-interest-bearing liabilities |   |        | 1,626   |   |                      |   |   |   |   |   | 1,768 |   |   |   |   |   |   |   |   |   |   |   | 2,136 |   |   |   |   |   |   |   |   |   |
| Total liabilities                      |   |        | 181,400 |   |                      |   |   |   |   |   | 184,394 |   |   |   |   |   |   |   |   |   |   |   | 187,990 |   |   |   |   |   |   |   |   |   |
| Stockholders' equity                   |   |        | 19,526  |   |                      |   |   |   |   |   | 19,498 |   |   |   |   |   |   |   |   |   |   |   | 17,955 |   |   |   |   |   |   |   |   |   |
| Total liabilities and equity           |   | $           | 200,926 |   |                      |   |   |   |   | $ | 203,892 |   |   |   |   |   |   |   |   |   |   | $ | 205,945 |   |   |   |   |   |   |   |   |   |
|                                   |   |        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net interest income                    |   |        |    |   |                      |   |   |   |   |   |   |   |   | $ | 4,258 |   |   |   |   |   |   |   |   |   |   | $ | 3,764 |   |   |   |   |   |
| Net interest rate spread (2)           |   |        |    |   |                      |   | 3.93 | % |   |   |   |   |   |   |   |   |   |   | 4.18 | % |   |   |   |   |   |   |   |   |   |   | 3.58 | % |
| Net interest-earning assets (3)        |   | $           | 31,407  |   |                      |   |   |   |   | $ | 26,939 |   |   |   |   |   |   |   |   |   |   | $ | 25,581 |   |   |   |   |   |   |   |   |   |
| Net interest margin (4)                |   |        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   | 4.40 | % |   |   |   |   |   |   |   |   |   |   | 3.85 | % |
| Average of interest-earning            |   |        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| assets to interest-bearing             |   |        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| liabilities                            |   |        |    |   |                      |   | 119.57 | % |   |   |   |   |   |   |   |   |   |   | 116.17 | % |   |   |   |   |   |   |   |   |   |   | 115.04 | % |

----

| (1) | Consists entirely of taxable investment securities. |
|-----|-----------------------------------------------------|

| (2) | Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities. |
|-----|---------------------------------------------------------------------------------------------------------------|

| (4) | Net interest margin represents net interest income divided by average total interest-earning assets. |
|-----|------------------------------------------------------------------------------------------------------|

----

Table of Contents

|                               |   | For the Six Months Ended June 30, 2011 |   |
|------------------------------------|--------|----------------------------------------|--------|
|                               |   | Compared to the Six Months Ended       |   |
|                               |   | June 30, 2010                          |   |
|                               |   | Increase (Decrease) Due to             |   |   |   |   |
|                               |   | Volume                                 |   |   | Rate |   |   | Net |   |
|                               |   | (In thousands)                         |   |
|                               |   |                                   |   |   |   |   |   |   |   |
| Interest-earning assets:           |   |                                   |   |   |   |   |   |   |   |
| Loans                              |   | $                                      | 173    |   |   | $ | 17 |   |   | $ | 190 |   |
| Investment securities              |   |                                   | (99    | ) |   |   | (16 | ) |   |   | (115 | ) |
| Short-term investments             |   |                                   | (1     | ) |   |   | - |   |   |   | (1 | ) |
|                               |   |                                   |   |   |   |   |   |   |   |   |   |   |
| Total interest-earning assets      |   |                                   | 73     |   |   |   | 1 |   |   |   | 74 |   |
|                               |   |                                   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:      |   |                                   |   |   |   |   |   |   |   |   |   |   |
| Savings deposits                   |   |                                   | -      |   |   |   | - |   |   |   | - |   |
| NOW accounts                       |   |                                   | 5      |   |   |   | (10 | ) |   |   | (5 | ) |
| Money market accounts              |   |                                   | 77     |   |   |   | (71 | ) |   |   | 6 |   |
| Certificates of deposit            |   |                                   | (87    | ) |   |   | (133 | ) |   |   | (220 | ) |
|                               |   |                                   |   |   |   |   |   |   |   |   |   |   |
| Total interest-bearing deposits    |   |                                   | (5     | ) |   |   | (214 | ) |   |   | (219 | ) |
|                               |   |                                   |   |   |   |   |   |   |   |   |   |   |
| FHLB advances                      |   |                                   | (182   | ) |   |   | (19 | ) |   |   | (201 | ) |
|                               |   |                                   |   |   |   |   |   |   |   |   |   |   |
| Total interest-bearing liabilities |   |                                   | (187   | ) |   |   | (233 | ) |   |   | (420 | ) |
|                               |   |                                   |   |   |   |   |   |   |   |   |   |   |
| Change in net interest income      |   | $                                      | 260    |   |   | $ | 234 |   |   | $ | 494 |   |

----

Table of Contents

| Item 3. | Quantitative and Qualitative Disclosure About Market Risk |
|---------|-----------------------------------------------------------|

| Item 4. | Controls and Procedures |
|---------|-------------------------|

----

Table of Contents

| Item 1.  | Legal Proceedings |
|---------------|-------------------|

| Item 1A. | Risk Factors |
|----------|--------------|

| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds |
|---------|-------------------------------------------------------------|

|   | a) Not applicable |
|--------|-------------------|

|   | b) Not applicable |
|--------|-------------------|

|   | c) The Company did not repurchase any shares during the quarter ended June 30, 2011. |
|--------|--------------------------------------------------------------------------------------|

| Item 3. | Defaults Upon Senior Securities |
|---------|---------------------------------|

|   | None |
|--------|------|

| Item 4. | [Removed and Reserved] |
|---------|------------------------|

| Item 5. | Other Information |
|---------|-------------------|

|   | a) Not applicable |
|--------|-------------------|

| Item 6. | Exhibits |
|---------|----------|

|   | 31.1 | Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act |
|--------|------|--------------------------------------------------------------------------------------------|

|   | 31.2 | Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act |
|--------|------|--------------------------------------------------------------------------------------------|

|   | 32 | Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act |
|--------|----|------------------------------------------------------------------------------------------------------------------------|

----

Table of Contents

SIGNATURES

| Date: August 12, 2011 | /s/ Robert E. Balletto                                       |   |
|-----------------------|--------------------------------------------------------------|--------|
|                  | Robert E. Balletto                                           |
|                  | President and Chief Executive Officer                        |
|                  | (Principal Executive Officer)                                |
|                  |                                                         |   |
| Date: August 15, 2011 | /s/ Joseph W. Kennedy                                        |   |
|                  | Joseph W. Kennedy                                            |
|                  | Senior Vice President, Chief Financial Officer and Treasurer |
|                  | (Principal Accounting and Financial Officer)                 |

----