<Page>

================================================================================
                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-KSB

/X/  ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
     1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2001

/ /  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1945 FOR THE TRANSITION PERIOD FROM __________ TO __________

                         COMMISSION FILE NUMBER 0-28894

                          ACCESS ANYTIME BANCORP, INC.
                 (Name of small business issuer in its charter)

            DELAWARE                                    85-0444597
 (State or other jurisdiction of            (I.R.S. Employer Identification No.)
 incorporation or organization)

                 5210 EUBANK, NE, ALBUQUERQUE, NEW MEXICO 87111
               (Address of principal executive offices) (Zip Code)

         Issuer's telephone number, including area code: (505) 299-0900

       SECURITIES REGISTERED UNDER SECTION 12(b) OF THE EXCHANGE ACT: NONE

       SECURITIES REGISTERED UNDER SECTION 12(g) OF THE EXCHANGE ACT:

                           COMMON STOCK $.01 PAR VALUE
                                (Title of class)

     Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.

                              Yes /X/     No / /

     Check if there is no disclosure of delinquent filers in response to Item
405 of Regulation S-B contained herein, and no disclosure will be contained, to
the best of the registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB. / /.

     The issuer's revenues for the year ended December 31, 2001, were
$13,719,105.

     The aggregate market value of the voting stock held by non-affiliates of
the issuer, computed by reference to the average of the closing bid and asked
prices of such stock on the Nasdaq Small-Cap Market as of March 1, 2002 was
approximately $7,183,696. (The exclusion from such amount of the market value of
the shares owned by any person shall not be deemed an admission by the issuer
that such person is an affiliate of the issuer.)

     As of March 1, 2002, the issuer had outstanding 1,460,595 shares of Common
Stock, par value $0.01 per share, its only class of Common Stock.

                       DOCUMENTS INCORPORATED BY REFERENCE

     The following document is incorporated by reference into Part III of this
Annual Report on Form 10-KSB: Definitive Proxy Statement for the issuer's 2002
Annual Meeting of Stockholders.

     Transitional Small Business Disclosure Format (check one): Yes / /  No /X/

================================================================================

<Page>

                                TABLE OF CONTENTS

<Table>
<Caption>
                                                                                                           PAGE
                                     PART I
<S>               <C>                                                                                      <C>
Item 1.           Description of Business.................................................................  5
                  Overview................................................................................  5
                  Lending Activities......................................................................  5
                      General.............................................................................  5
                      Loan Portfolio Composition..........................................................  7
                      One-to-Four Family Residential Mortgage Lending.....................................  9
                      Multi-Family and Commercial Real Estate Lending..................................... 10
                      Commercial Business Lending......................................................... 11
                      Construction Lending................................................................ 11
                      Consumer Lending.................................................................... 11
                      Loan Servicing...................................................................... 12
                      Originations, Purchases and Sales of Loans.......................................... 12
                  Asset Quality........................................................................... 13
                      Delinquent Loans.................................................................... 13
                      Non-Performing Assets............................................................... 14
                      Criticized Assets................................................................... 15
                      Allowance for Loan Losses........................................................... 15
                  Investment Activities................................................................... 17
                      General............................................................................. 17
                      Other Investments................................................................... 19
                  Sources of Funds........................................................................ 19
                      The Company......................................................................... 19
                      The Bank............................................................................ 20
                      Borrowings.......................................................................... 23
                  Subsidiary of the Bank.................................................................. 23
                  Regulation.............................................................................. 23
                      General............................................................................. 23
                      Regulation of the Company........................................................... 24
                      Federal Securities Law.............................................................. 25
                      Insurance of Accounts and Regulations by the FDIC................................... 25
                      Regulatory Capital Requirements..................................................... 25
                      Limitations on Dividends and Other Capital Distributions............................ 27
                      Qualified Thrift Lender Test........................................................ 27
                      Community Reinvestment Act.......................................................... 28
                      Transactions with Affiliates........................................................ 28
                      Federal Home Loan Bank System....................................................... 28
                      Final Regulatory Actions for 2001................................................... 29
                      Proposed Federal Legislation........................................................ 30
                  Federal and State Taxation.............................................................. 32
                      Federal Taxation.................................................................... 32
                      State Taxation...................................................................... 33
                  Competition............................................................................. 33
                  Employees............................................................................... 33
</Table>

                                   (Continued)

                                        2
<Page>

                                TABLE OF CONTENTS
                                   (CONTINUED)
<Table>
<Caption>
                                                                                                          PAGE
<S>               <C>                                                                                      <C>
Item 2.           Description of Property................................................................. 34

Item 3.           Legal Proceedings....................................................................... 34

Item 4.           Submission of Matters to a Vote of Security Holders..................................... 34

                                     PART II

Item 5.           Market for Registrant's Common Equity and Related Stockholder Matters................... 35

Item 6.           Management's Discussion and Analysis or Plan of Operation............................... 36
                      Selected Consolidated Financial Highlights.......................................... 36
                      General............................................................................. 38
                      Regulatory Matters.................................................................. 39
                      Results of Operations............................................................... 40
                           Comparison of Years Ended December 31, 2001 and 2000........................... 42
                           Comparison of Years Ended December 31, 2000 and 1999........................... 42
                      Asset/Liability Management and Interest Rate Sensitivity............................ 43
                      Liquidity and Capital Resources..................................................... 46
                      Trust Preferred Security............................................................ 47
                      Asset Quality....................................................................... 47
                           Allowance for Loan Losses...................................................... 47
                           Non-Performing Assets.......................................................... 49
                           Investment Securities.......................................................... 49
                      Off-Statement of Financial Condition Financial Instruments.......................... 49
                      Impact of Inflation and Changing Prices............................................. 50
                      Critical Accounting Policies........................................................ 50
                           Allowance for Loan Losses...................................................... 50
                           Income Taxes................................................................... 51
                           Goodwill....................................................................... 51
                      Contractual Cash Obligations........................................................ 51
                      Impact of New Accounting Standards.................................................. 51
                      Forward-Looking Statements.......................................................... 53

Item 7.           Financial Statements.................................................................... 53

Item 8.           Changes In and Disagreements with Accountants on Accounting and Financial
                  Disclosures............................................................................. 53

                                    PART III

Item 9.           Directors, Executive Officers, Promoters and Control Persons; Compliance with
                  Section 16(a) of the Exchange Act....................................................... 54

Item 10.          Executive Compensation.................................................................. 54

Item 11.          Security Ownership of Certain Beneficial Owners and Management.......................... 54

Item 12.          Certain Relationships and Related Transactions.......................................... 54

Item 13.          Exhibits and Reports on Form 8-K........................................................ 55
</Table>

                                        3
<Page>

                                TABLE OF CONTENTS
                                   (CONTINUED)
<Table>
<S>                                                                                                        <C>
Signatures   .............................................................................................  57

Index to Consolidated Financial Statements................................................................ F-1

Glossary of Certain Terms................................................................................. G-1
</Table>

                                        4
<Page>

                                     PART I

ITEM 1. DESCRIPTION OF BUSINESS.

PLEASE REFER TO THE GLOSSARY OF CERTAIN TERMS (PAGE G-1) FOR DEFINITIONS OF
VARIOUS TERMS.

OVERVIEW

     Access Anytime Bancorp, Inc. (the "Company") is a Delaware corporation
which was organized in 1996 for the purpose of becoming the thrift holding
company of First Savings Bank, F.S.B. renamed FirstBank (the "Bank"). The
Company owns all of the outstanding stock of the Bank, which is the Company's
principal asset. The Bank was originally chartered by the FHLBB in 1934.
Currently, deposits with the Bank are insured to the maximum extent permitted by
the SAIF, which is under the supervision of the FDIC. The Bank is a member of
the FHLB system and the Company and the Bank are subject to comprehensive
regulation, examination, and supervision of the OTS and the FDIC.

     The Bank conducts full service banking operations through five offices
located in Albuquerque, Clovis, Gallup, and Portales, New Mexico. The Company's
executive offices are located at 5210 Eubank, NE, Albuquerque, New Mexico. The
telephone number at that address is (505) 299-0900. In general, the Bank has a
normal lending territory, as defined by federal regulations, that includes all
areas within the State of New Mexico, Arizona, and a 100 mile radius from the
Bank's offices in Clovis, New Mexico, which extends into the State of Texas.

     On November 5, 1999, the Bank purchased certain assets and assumed all of
the liabilities of the Bank of Albuquerque's branch facilities located in Clovis
and Gallup, New Mexico. The Bank assumed approximately $23.9 million in deposits
and $2.3 million in net loans. The Bank opened a new full-service branch in
Albuquerque, New Mexico in June 2000, which allowed the Bank to increase
deposits and increase loans receivable. In January 2002, the Bank received
approval to open an additional branch in Albuquerque, New Mexico at 3301 Coors
Blvd., N.W.

     The Company's and the Bank's revenues are derived principally from interest
on loans and securities, income from deposit account service charges and gains
on the sale of loans. The results of operations of the Company and the Bank, in
general, are significantly influenced by general economic conditions, the
monetary and fiscal policies of the federal government, competition in the
Company's and the Bank's market area, and the policies of financial institution
regulatory authorities.

     The Bank is engaged in the business of attracting deposits from the general
public, making loans secured by first liens on single-family homes (primarily
for sale into the secondary market), consumer and commercial loans, and
investing in securities. The principal sources of funds for the Bank's lending
and investing activities include the sale of loans, principal payments and
prepayments on loans and mortgage related securities, and deposits. The Bank's
primary sources of income are income on loans and securities, income from
deposit account service charges, and gains on the sale of loans. Its principal
expenses are interest paid on deposits and borrowings and general operating
expenses. The earnings of the Bank depend primarily on the differences between
its income from lending and investment activities and the interest cost of its
deposits and borrowings.

LENDING ACTIVITIES

     GENERAL. The Bank has historically originated fixed-rate and
adjustable-rate mortgage loans. In order to reduce its exposure to changes in
interest rates, it has also, since the early 1980's, emphasized the origination
and retention of ARM loans. In response to customer demand, however, the Bank
continues to originate conventional fixed-rate mortgages.

     The Bank's balanced focus in lending activities is on the origination of
loans secured by first mortgages on owner-occupied, one-to-four family
residences, and consumer and commercial loans. The Bank also originates
residential construction, commercial real estate and consumer loans in its
market area. Most residential mortgage loans originated by the Bank are in
conformity with FHLMC, FNMA and GNMA loan

                                        5
<Page>

underwriting standards so that they may be sold in the secondary market.
Mortgage loans made by the Bank are generally long-term loans, amortized on a
monthly basis, with principal and interest due each month. The initial
contractual loan payment period for residential loans typically ranges from 15
to 30 years. The Bank's experience indicates, however, that real estate loans
remain outstanding for significantly shorter periods than their contractual
terms. Borrowers may refinance or prepay loans at their option, subject to any
prepayment penalty provisions, if included in the note.

     All of the Bank's lending is subject to written underwriting standards and
to loan origination procedures. Decisions on loan applications are made on the
basis of detailed applications and property valuations (consistent with the
Bank's written appraisal policy) by independent appraisers. The loan
applications are designed primarily to determine the borrower's ability to repay
and the more significant items on the application are verified through use of
credit reports, financial statements, tax returns and/or confirmations.

     In connection with the loan approval process, the Bank's loan personnel
analyze the loan application and the property involved. Consumer loans are
approved by loan committee and/or individual loan officers, in accordance with
policies established by the Bank's Board of Directors.

     Loan applicants are notified of the Bank's decision setting forth the terms
and conditions of the decision. If approved, these terms and conditions include
the amount of the loan, interest rate, amortization term, a brief description of
the real estate to be mortgaged to the Bank, and the requirement of fire and
casualty insurance coverage to be maintained to protect the Bank's interest.

     It is the policy of the Bank to obtain a title insurance policy or title
report, insuring that it has a valid lien on all property securing real estate
loans. Hazard insurance or homeowner's policies should be obtained by the
borrower prior to closing. If required by federal rules and regulations, flood
insurance policies are obtained. Upon closing, most borrowers are required to
advance funds for the establishment of a mortgage escrow account. Thereafter,
the borrower makes contributions to this account along with monthly principal
and interest payments. Disbursements are made from this account for items such
as real estate taxes, hazard insurance premiums, and private mortgage insurance
premiums.

     The Bank receives loan origination fees for originating loans and also
receives commitment fees for making commitments to originate construction,
residential, commercial, and multi-family residential loans, as well as various
fees and charges related to existing loans, which include late charges and
assumption fees.

     As part of the loan application, the borrower pays the Bank for its
out-of-pocket costs in reviewing the application, such as the appraisal fee,
whether or not the borrower closes the loan. The interest rate charged is
normally the prevailing rate at the time the loan application is approved. In
the case of larger construction loans, the Bank normally charges a commitment
fee, which may be included in the loan origination charge when the loan is made.
Commitment fees and other terms of commercial and multi-family residential loans
are individually negotiated.

     In order to monitor the adequacy of cash flows on income-producing
properties, the borrower or lead lender is notified periodically and asked to
provide financial information including rental rates and income, maintenance
costs and an update of real estate property tax payments.

     The aggregate amount of loans that the Bank is permitted to make under
applicable federal regulations to any one borrower, including related entities,
is limited generally to the greater of 15% of unimpaired capital and surplus or
$500,000. At December 31, 2001, the maximum amount which the Bank could have
lent to any one borrower and the borrower's related entities was $2,483,449. The
Bank had no loans in excess of the legal lending limit at December 31, 2001.

                                        6
<Page>

     LOAN PORTFOLIO COMPOSITION. The following table shows the composition of
the Bank's loan portfolio in dollar amounts and in percentages as of dates
indicated.

<Table>
<Caption>
                                                                             December 31
                                         -------------------------------------------------------------------------------------
                                                    2001                         2000                         1999
                                         ---------------------------  ---------------------------  ---------------------------
                                            Amount        Percent         Amount       Percent        Amount        Percent
                                         -------------  ------------  -------------  ------------  -------------  ------------
                                                                        (Dollars In Thousands)
<S>                                      <C>              <C>         <C>              <C>         <C>              <C>
Real estate loans (a):
   Residential mortgage loans:
     One-to-four family.............     $    82,988       57.36%     $    72,488       59.64%     $    66,791       62.88%
     Multi-family...................             794        0.55              876        0.72              902        0.85
     Other dwelling units...........           1,322        0.91            1,317        1.08              502        0.47
   Commercial.......................          29,422       20.33           25,896       21.30           20,553       19.35
                                         -------------  ------------  -------------  ------------  -------------  ------------

       Total real estate loans......         114,526       79.15          100,577       82.74           88,748       83.55
                                         -------------  ------------  -------------  ------------  -------------  ------------

Other loans:
   Savings accounts.................             596        0.41              763        0.63              694        0.65
   Other consumer items (b).........          29,571       20.44           20,214       16.63           16,778       15.80
                                         -------------  ------------  -------------  ------------  -------------  ------------

       Total other loans............          30,167       20.85           20,977       17.26           17,472       16.45
                                         -------------  ------------  -------------  ------------  -------------  ------------

       Total loans..................         144,693      100.00%         121,554      100.00%         106,220      100.00%
                                                        ============                 ============                 ============

Less:
   Loans in process.................           1,391                          502                          414
   Discounts, deferred loan fees
      and other.....................           1,073                          892                          765
   Allowance for loan losses........             745                          681                          864
                                         -------------                -------------                -------------

       Total loans receivable, net..     $   141,484                  $   119,479                  $   104,177
                                         =============                =============                =============
</Table>

(a)  Includes construction loans to be converted to permanent loans and
     refinanced loans.
(b)  Includes, among other things, commercial, automobile, credit card and home
     improvement loans.

                                        7
<Page>

     The following table shows the composition of the Bank's loan portfolio by
fixed- and adjustable-rate categories at the dates indicated.

<Table>
<Caption>
                                                                             December 31
                                         -------------------------------------------------------------------------------------
                                                    2001                         2000                         1999
                                         ---------------------------  ---------------------------  ---------------------------
                                            Amount        Percent        Amount        Percent        Amount        Percent
                                         -------------  ------------  -------------  ------------  -------------  ------------
                                                                        (Dollars In Thousands)
<S>                                      <C>              <C>         <C>              <C>         <C>              <C>
Fixed-rate loans:
Real estate (a):
   Residential mortgage loans:
     One-to-four family.............     $    69,657       48.14%     $    56,855       46.77%     $    54,802       51.59%
     Multi-family...................             543        0.38              596        0.49              623        0.59
     Other dwelling units...........             246        0.17              234        0.19               99        0.09
   Commercial.......................           9,598        6.63           15,082       12.41           13,416       12.63
                                         -------------  ------------  -------------  ------------  -------------  ------------

       Total real estate loans......          80,044       55.32           72,767       59.86           68,940       64.90
                                         -------------  ------------  -------------  ------------  -------------  ------------

Other :
   Savings accounts.................             596        0.41              763        0.63              694        0.66
   Consumer (b).....................          23,637       16.34           15,395       12.67           13,747       12.94
                                         -------------  ------------  -------------  ------------  -------------  ------------

       Total other loans............          24,233       16.75           16,158       13.30           14,441       13.60
                                         -------------  ------------  -------------  ------------  -------------  ------------

       Total fixed-rate loans.......         104,277       72.07           88,925       73.16           83,381       78.50
                                         -------------  ------------  -------------  ------------  -------------  ------------

Adjustable-rate loans:
Real estate (a):
   Residential mortgage loans:
     One-to-four family.............          13,331        9.22           15,633       12.86           11,989       11.29
     Multi-family...................             251        0.17              280        0.23              279        0.26
     Other dwelling units...........           1,076        0.74            1,083        0.89              403        0.38
   Commercial.......................          19,824       13.70           10,814        8.90            7,137        6.72
                                         -------------  ------------  -------------  ------------  -------------  ------------

       Total real estate loans......          34,482       23.83           27,810       22.88           19,808       18.65

Consumer (b)........................           5,934        4.10            4,819        3.96            3,031        2.85
                                         -------------  ------------  -------------  ------------  -------------  ------------

       Total adjustable-rate loans..          40,416       27.93           32,629       26.84           22,839       21.50
                                         -------------  ------------  -------------  ------------  -------------  ------------

       Total loans receivable.......         144,693      100.00%         121,554      100.00%         106,220      100.00%
                                                        ============                 ============                 ============

Less:
   Loans in process.................           1,391                          502                          414
   Discounts,  deferred  loan fees
      and other...................             1,073                          892                          765
   Allowance for loan losses........             745                          681                          864
                                         -------------                -------------                -------------

       Total loans receivable, net..     $   141,484                  $   119,479                  $   104,177
                                         =============                =============                =============
</Table>

(a)  Includes construction loans to be converted to permanent loans and
     refinanced loans.
(b)  Includes, among other things, commercial, automobile, credit card and home
     improvement loans.

                                        8
<Page>

         The following table outlines the specific loan types with contractual
maturity dates as of December 31, 2001. Loans which have adjustable or
renegotiable rates are shown as maturing during the period when the contract is
due. This schedule does not reflect the effects of possible principal
prepayments by the borrower.

<Table>
<Caption>
                                  Real Estate                                 Non-Real Estate
                  --------------------------------------------  --------------------------------------------
                       Mortgages             Construction             Consumer         Commercial Business           Total
                  ---------------------  ---------------------  ---------------------  ---------------------  ---------------------
                              Weighted               Weighted               Weighted               Weighted               Weighted
                              average                average                average                average                average
                   Amount       rate      Amount      rate       Amount       rate      Amount       rate      Amount       rate
                  ----------  ---------  ---------- ----------  ----------  ---------  ----------  ---------  ----------  ---------
                                                             (Dollars In Thousands)
<S>               <C>            <C>     <C>           <C>      <C>            <C>     <C>            <C>     <C>            <C>
Within one
   year           $   4,691      7.27%   $   3,364     6.42%    $   2,590      9.98%   $   2,699      8.00%   $  13,344      7.73%
More than one
   year
   through two
   years              2,093      7.51           --       --         1,729     10.36          483      9.37        4,305      8.86
More than two
   years
   through
   three years        3,320      7.04           --       --         2,740     10.29          593      9.22        6,653      8.57
More than
   three years
   through
   five years         5,617      8.35           --       --         4,582     10.10        2,492      7.17       12,691      8.75
More than five
   years
   through ten
   years             14,885      7.86           --       --         7,344      9.72        2,576      6.33       24,805      8.25
More than ten
   years
   through
   fifteen
   years             43,160      7.37           --       --         1,340      8.77          308      7.25       44,808      7.41
More than
   fifteen
   years             37,396      7.37           --       --           515      9.12          176      9.00       38,087      7.40
                  ----------  ---------  ---------- ----------  ----------  ---------  ----------  ---------  ----------   --------
Total loans
   receivable     $ 111,162      7.47%   $   3,364     6.42%    $  20,840      9.89%   $   9,327      7.46%   $ 144,693      7.79%
                  ==========  =========  ========== ==========  ==========  =========  ==========  =========  ==========  =========
</Table>

     As of December 31, 2001 the total amount of loans with maturities longer
than one year which had fixed interest rates was approximately $126 million and
with floating or adjustable interest rates was approximately $6 million.

     ONE-TO-FOUR FAMILY RESIDENTIAL MORTGAGE LENDING. The primary lending
activity of the Bank has been the granting of conventional loans to enable
borrowers to purchase new or existing homes or refinance their current home. The
Bank also originates VA-guaranteed and FHA-insured loans. Residential loan
originations are generated by the Bank's marketing efforts, its present
customers, walk-in customers and referrals from realtors and builders. The Bank
has focused its lending efforts primarily on the origination of loans secured by
first mortgages on owner-occupied, single-family residences in its market area.

     Loan originations decreased during 1999 and 2000, when interest rates were
rising. When interest rates fell during 2001, loan originations and refinancing
of mortgage loans increased. The increase in loan originations allowed the Bank
to increase the sale of mortgage loans while continuing to increase its loans
receivable.

     The Bank's fixed-rate loans generally conform to secondary market standards
(i.e., FHLMC, FNMA and GNMA standards) and have been primarily originated for
sale in the secondary market. A portion of these loans has been originated
pursuant to forward sales commitments which are taken under best efforts
agreements.

     The Bank has offered ARM loans at rates, terms and fees determined in
accordance with market and competitive factors. The programs currently offered
are primarily designed to meet the standards and requirements of the secondary
market for residential loans. The Bank's current one-to-four family residential
ARM loans are fully amortizing loans with contractual maturities of up to 30
years. The interest rates on the

                                        9
<Page>

ARM loans originated by the Bank are subject to adjustment at stated intervals
and are subject to annual and lifetime adjustment limits below and above the
initial rate. Most of the Bank's ARM loans have interest rates which adjust
annually based on a margin over one of several indices. These loans' annual and
lifetime caps on interest rate increases may reduce the extent to which they can
help protect the Bank against interest rate risk. The Bank has from time to time
offered ARM loans at below the fully-indexed rate; however, borrowers of ARM
loans are qualified at the fully-indexed rates.

     The Bank retains ARM loans in its portfolio consistent with its ongoing
asset/liability objectives. ARM loans decrease the risks associated with changes
in interest rates but involve other risks, primarily because as interest rates
rise, the payment by the borrower rises to the extent permitted by the terms of
the loan, thereby increasing the potential for default. At the same time, the
marketability of the underlying property may be adversely affected by higher
interest rates. The Bank believes that these risks, which have not had a
material adverse effect on the Bank to date, generally are less than the risks
associated with holding fixed-rate loans in a rising interest rate environment.
In this regard, the Bank's delinquency experience on its ARM loans has generally
been similar to its experience on fixed-rate residential loans.

     The Bank evaluates both the borrower's ability to make principal, interest
and escrow payments and the value of the property that will secure the loan. The
Bank originates residential mortgage loans with loan-to-value ratios up to 95%.
On any mortgage loan exceeding an 80% loan-to-value ratio at the time of
origination, the Bank will generally require private mortgage insurance in an
amount intended to reduce the Bank's exposure to 80% or less of the appraised
value of the underlying property, unless otherwise approved by the Bank's Board
of Directors.

     The Bank's residential mortgage loans customarily include a due-on-sale
clause giving the Bank the right to declare the loan immediately due and payable
in the event that, among other things, the borrower sells or otherwise disposes
of the property subject to the mortgage and the loan is not repaid. The Bank has
generally enforced due-on-sale clauses in its mortgage loan contracts. Yield
increases may be obtained through the authorization of assumptions of existing
loans at higher rates of interest, assuming the current rates are higher than
the existing note rate, and the imposition of assumption fees. ARM loans may be
assumed provided home buyers meet the Bank's underwriting standards and the
applicable fees are paid.

     MULTI-FAMILY AND COMMERCIAL REAL ESTATE LENDING. The Bank's multi-family
and commercial real estate loan portfolio includes loans secured by apartment
buildings, office buildings, retail stores and other properties, most of which
are located in the Bank's normal lending territory. Also, the Bank originates
multi-family and commercial real estate loans, subject to regulatory
restrictions. Multi-family and commercial real estate loans generally are
originated in amounts up to 75% of the appraised value of the property securing
the loan. Commercial and multi-family loans are made at both fixed and
adjustable interest rates for terms of up to 25 years. The terms and conditions
of multi-family and commercial real estate loans are negotiated on a
case-by-case basis.

     Appraisals on properties securing multi-family and commercial real estate
loans originated by the Bank are performed by an independent appraiser subject
to regulatory guidelines at the time the loan is made. All appraisals on
multi-family and commercial real estate loans are reviewed by the Bank's
management. In addition, the current underwriting procedures require
verification of the borrower's credit history, income and financial statements,
banking relationships, references and income projections for the property.
Personal guarantees are generally obtained for the Bank's multi-family and
commercial real estate loans.

     Multi-family and commercial real estate lending affords the Bank an
opportunity to receive interest at rates higher than those generally available
from one-to-four family residential lending. Nevertheless, loans secured by such
properties are generally larger and involve a greater degree of risk than
one-to-four family residential mortgage loans. Because payments on loans secured
by multi-family and commercial real estate properties are often dependent on the
successful operation or management of the properties, repayment of such loans
may be subject to adverse conditions in the real estate market or the economy.
If the cash flow from the project is reduced (for example, if leases are not
obtained or renewed), the borrower's ability to repay the loan

                                       10
<Page>

may be impaired. In addition, adjustable-rate multi-family and commercial real
estate loans are subject to increased risk of delinquency or default as interest
rates increase. The Bank has attempted to minimize these risks through its
underwriting standards.

     COMMERCIAL BUSINESS LENDING. The Bank offers commercial business loans
guaranteed by the SBA. The SBA program provides lenders with the ability to
offer flexible terms and longer maturities on loans to small businesses and
professionals. The program provides the lender a guaranteed portion (generally
75%-80%) of principal and interest. Since these loans are guaranteed, they
generally offer minimal risk to the Bank. These loans are made with adjustable
and fixed interest rates with maturities of up to 25 years, depending on the
underlying collateral. The loans are approved by the SBA. The Bank intends to
expand its commercial lending by utilizing the SBA program.

     The Bank intends to provide short and medium term credit to businesses in
the Bank's primary lending territory. Commercial loans include revolving credit
lines and term loans, or a combination thereof, and are generally secured by
equipment, accounts receivable, inventories, real estate or other business
assets or a combination thereof. Commercial business loans are made pursuant to
specified loan approval limits set by the Bank's Board of Directors. The Bank
usually requires that business borrowers maintain their operating accounts with
the Bank in the form of demand deposits. Loans made to corporations are
generally personally guaranteed by the principals of the corporation.

     CONSTRUCTION LENDING. The Bank originates loans to finance the construction
of single-family residences and commercial businesses. Many of these loans are
made to individuals who will ultimately be the owner-occupants of the residence.
Such loans are generally made, although not required, with permanent financing
on the constructed property to be provided by the Bank. Residential construction
loans are generally made with a six month term on a fixed-rate, interest-only
basis. Residential construction loans to owner-occupants are generally
underwritten using the same criteria as for one-to-four family residential
loans. Commercial construction loans are generally made with 12 to 24 month
maturities. Loan proceeds are disbursed in increments as construction progresses
and inspections warrant.

     Construction loans afford the Bank the opportunity to charge loan
origination fees, to increase the frequency of repricing of its loan portfolio
and to earn yields higher than those obtainable on loans secured by one-to-four
family residential properties. The higher yields reflect the higher risks
associated with construction lending, which include principally the difficulty
in evaluating accurately the total funds required to complete a project and the
post-completion value of the project. As a result, the Bank places a strong
emphasis upon the borrower's ability to repay and the experience and expertise
of the builder who has contracted to construct the property.

     CONSUMER LENDING. Management considers consumer lending to be an important
component of its strategic plan. Specifically, consumer loans generally have
shorter terms to maturity (thus reducing the Bank's exposure to changes in
interest rates) and carry higher rates of interest than do residential mortgage
loans. In addition, management believes that the offering of consumer loan
products helps to expand and create stronger ties to its customer base by
increasing the number of customer relationships and providing cross-marketing
opportunities. Under applicable federal laws, the Bank is authorized to invest
up to 35% of its assets in consumer loans excluding credit card and education
loans.

     The Bank offers a variety of secured consumer loans, including home
improvement loans, auto loans, personal lines of credit, equity lines of credit
and loans secured by savings deposits. The Bank also offers unsecured and credit
card loans. The Bank currently originates all of its consumer loans in its
market area. Consumer loan terms vary according to the type of collateral,
length of contract and creditworthiness of the borrower. The Bank's consumer
loans generally have fixed rates of interest.

     The Bank currently has several arrangements to originate consumer
automobile and recreational vehicle loans on an indirect basis (I.E., where loan
contracts are purchased from automobile and recreational vehicle retailers which
have extended credit to their customers). The Bank applies the underwriting
standards mentioned below in the approval process of purchasing these contracts.
These loans have a fixed interest rate and maturities

                                       11
<Page>

of 15 years or less. As of December 31, 2001, the Bank had $12,003,000 in
indirect automobile and recreational vehicle contracts or 8.3% of its loan
portfolio before net items.

     The underwriting standards employed by the Bank for consumer loans include
a determination of the applicant's payment history on other debts and an
assessment of the ability to meet existing obligations and payments on the
proposed loan. Although creditworthiness of the applicant is a primary
consideration, the underwriting process also includes a comparison of the value
of the security, if any, in relation to the proposed loan amount.

     Consumer loans may entail greater risk than do residential mortgage loans,
particularly in the case of consumer loans which are unsecured, or secured by
rapidly depreciable assets, such as automobiles. In such cases, any repossessed
collateral for a defaulted consumer loan may not provide an adequate source of
repayment of the outstanding loan balance as a result of the greater likelihood
of damage, loss or depreciation. In addition, consumer loan collections are
dependent on the borrower's continuing financial stability, and thus are more
likely to be affected by adverse personal circumstances. Furthermore, the
application of various federal and state laws, including bankruptcy, may limit
the amount which can be recovered on such loans. Although the level of
delinquencies in the Bank's consumer loan portfolio has generally been low (at
December 31, 2001, approximately $543,000 or 1.8. % of the net consumer loan
portfolio, was 60 days or more delinquent), there can be no assurance that
delinquencies will not increase in the future.

     LOAN SERVICING. In addition to servicing its own loans, the Bank services
mortgage loans for FNMA. Since the third quarter of 2000, it has been the
practice of the Bank to sell most of the lower interest rate one-to-four
mortgage loans. These loans are sold to private investors with servicing
released.

     ORIGINATIONS, PURCHASES AND SALES OF LOANS. As described previously, the
Bank originates loans through its marketing efforts, its existing customer base,
walk-in customers, and real estate brokers and builders. Commercial real estate
loan originations are obtained by direct solicitation. The Bank originates both
adjustable-rate and fixed-rate loans. Its ability to originate loans is
dependent upon the relative customer demand in the origination market which is
affected by market conditions such as short-term and long-term interest rates as
well as the expected future level of interest rates.

     The Bank had no outstanding commitments to purchase any loans or
mortgage-backed securities at December 31, 2001. At the same date, the Bank had
loan origination commitments of $1,229,469 and commitments to sell residential
loans of $2,264,188. The Bank expects to continue to sell most of its
residential mortgage loans in order to enhance liquidity and to maintain its
risk-based capital position.

                                       12
<Page>

     The following table sets forth the principal amount of the Bank's loan
origination, purchase and sales activity for the periods indicated.

<Table>
<Caption>
                                                                                   Year Ended December 31
                                                                          ------------------------------------------
                                                                              2001          2000           1999
                                                                          -------------  ------------  -------------
                                                                                    (Dollars In Thousands)
<S>                                                                       <C>            <C>           <C>
Originations by loan type:
Fixed-rate:
    Construction loans.................................................   $    5,928     $    3,050    $    3,644
    Mortgage loans.....................................................       16,900         21,169        31,967
    Consumer loans (2).................................................       18,897         11,407         6,337
    Loans refinanced...................................................       22,414          2,490         5,512
Adjustable-rate:
    Construction loans.................................................        1,250          1,750            --
    Mortgage loans.....................................................       13,684         10,405         2,270
    Consumer loans (2).................................................        5,940          1,895         5,858
    Loans refinanced...................................................          127            784            45
                                                                          -------------  ------------  -------------

          Total loans originated.......................................       85,140         52,950        55,633
                                                                          -------------  ------------  -------------

Purchases:
    Loans purchased....................................................        2,744          2,941         2,267
                                                                          -------------  ------------  -------------

Sales and repayments:
    Sales (1)..........................................................       24,471         11,812        19,375
    Principal repayments...............................................       40,274         28,778        24,500
                                                                          -------------  ------------  -------------

          Total reductions.............................................       64,745         40,590        43,875
                                                                          -------------  ------------  -------------

Increase (decrease) in other items, net................................       (1,134)           638           671
                                                                          -------------  ------------  -------------

          Net increase (3).............................................   $   22,005     $   15,939    $   14,696
                                                                          =============  ============  =============
</Table>

(1) Consists entirely of one-to-four family fixed-rate loans
(2) Includes non-mortgage commercial loans
(3) Includes changes in loans held-for-sale

ASSET QUALITY

     DELINQUENT LOANS. When a borrower fails to make a required payment on a
loan, the Bank attempts to cure the delinquency by contacting the borrower. In
the case of residential loans, a late notice is sent 16 days after the due date.
If the delinquency is not cured by the thirtieth day, the borrower is contacted
by telephone or a letter is sent. Additional written and verbal contacts are
made with the borrower between 35 and 70 days after the due date.

     In the event a real estate loan payment is past due for 60 days or more,
the Bank performs an in-depth review of the loan status, the condition of the
property and circumstances of the borrower. Based upon the results of its
review, the Bank may negotiate and accept a repayment program with the borrower,
accept a voluntary deed in lieu of foreclosure or when deemed necessary,
initiate foreclosure proceedings. If foreclosed on, real property is sold at a
public sale and the Bank may bid on the property to protect its interest. A
decision as to whether and when to initiate foreclosure proceedings is based on
such factors as the amount of the outstanding loan in relation to the original
indebtedness, the extent of delinquency and the borrower's ability and
willingness to cooperate in curing delinquencies.

                                       13
<Page>

     Delinquent consumer loans are handled in a generally similar manner, except
that contacts are made beginning when the payment is 10 days past due. If these
efforts fail to bring the loan current, appropriate action may be taken to
collect any loan payment that remains delinquent. The Bank's procedures for
repossession and sale of consumer collateral are subject to various requirements
under New Mexico consumer protection laws. Loans are generally placed on
non-accrual status after 90 days delinquency or notice of bankruptcy.

     The following table sets forth the Bank's loan delinquencies by type,
amount, and percentage of type at December 31, 2001.

<Table>
<Caption>
                                                    Loans Delinquent For
                               --------------------------------------------------------------
                                                                                                  Total Loans Delinquent
                                         60-89 Days                   90 Days And Over                60 Days or More
                               ------------------------------  ------------------------------  -----------------------------
                                                    Percent                         Percent                         Percent
                                                    of loan                         of loan                         of loan
                                 Number    Amount   category     Number   Amount    category    Number    Amount    category
                               ---------  --------- ---------  --------- ---------  ---------  --------  ---------  --------
                                                                  (Dollars In Thousands)
<S>                                  <C>  <C>        <C>             <C> <C>           <C>           <C> <C>          <C>
Mortgage loans:
    One-to-four family....            4   $   118     0.14%          16  $   599       0.72%         20  $   717      0.86%
    Commercial real estate            1        59     0.19            4      458       1.49           5      517      1.68
Consumer loans............           22       193     0.64           12      350       1.16          34      543      1.80
                               ---------  ---------            --------- ---------             --------  ---------
Total loans...............           27   $   370     0.26%          32  $ 1,407       0.97%         59  $ 1,777      1.23%
                               =========  =========            ========= =========             ========  =========
</Table>

     NON-PERFORMING ASSETS. Non-performing assets consist of loans on which
interest is no longer being accrued, troubled debt restructurings, real estate
acquired by foreclosure or deed-in-lieu of foreclosure and repossessed assets.

     The following table sets forth the amounts and categories of non-performing
assets in the Bank's portfolio. Loans are generally placed on non-accrual status
after 90 days delinquency.

<Table>
<Caption>
                                                                                         December 31
                                                                          ------------------------------------------
                                                                              2001          2000           1999
                                                                          -------------  ------------  -------------
                                                                                   (Dollars In Thousands)
<S>                                                                       <C>            <C>           <C>
Non-accrual loans (1)..................................................   $    1,407     $      280    $      125
Past due 90 days or more and still accruing............................           --             --            --
Real estate owned (2)..................................................          605            154           188
                                                                          -------------  ------------  -------------

Total non-performing assets............................................   $    2,012     $      434    $      313
                                                                          =============  ============  =============

Ratio of non-performing assets to total assets.........................         1.15%          0.28%         0.22%
                                                                          =============  ============  =============
</Table>

(1)  Generally refers to loans that are contractually delinquent (i.e., payments
     were due and unpaid for more than 90 days).

(2)  Refers to real estate acquired by the Bank through foreclosure or voluntary
     deed in lieu of loan foreclosure.

                                       14
<Page>

     For the year ended December 31, 2001, gross interest income which would
have been recorded had the non-accruing loans and renegotiated loans been
current in accordance with their original terms amounted to $93,823. The amount
that was included in interest income on such loans was $0 for the year ended
December 31, 2001.

     CRITICIZED ASSETS. Federal regulations provide for the classification of
loans and other assets, such as debt and equity securities considered by the OTS
to be of lesser quality, as "substandard," "doubtful" or "loss." An asset is
considered "substandard" if it is inadequately protected by the current net
worth and paying capacity of the obligor or of the collateral pledged, if any.
"Substandard" assets include those characterized by the "distinct possibility"
that the insured institution will sustain "some loss" if the deficiencies are
not corrected. Assets classified as "doubtful" have all of the weaknesses
inherent in those classified "substandard," with the added characteristic that
the weaknesses present make "collection or liquidation in full," on the basis of
currently existing facts, conditions, and values, "highly questionable and
improbable." Assets classified as "loss" are those considered "uncollectible"
and of such little value that their continuance as assets without the
establishment of a specific loss reserve is not warranted. Assets which do not
currently expose the insured institution to sufficient risk to warrant
classification in one of the aforementioned categories, but possess weaknesses,
are required to be designated "special mention" by management.

     When an insured institution classifies problem assets as either substandard
or doubtful, it may establish general allowances for loan losses in an amount
deemed prudent by management. General allowances represent loss allowances which
have been established to recognize the inherent risk associated with lending
activities, but which, unlike specific allowances, have not been allocated to
particular problem assets. When an insured institution classifies problem assets
as loss, it is required either to establish a specific allowance for losses
equal to 100% of that portion of the asset so classified or to charge-off such
amount. An institution's determination as to the classification of its assets
and the amount of its valuation allowances is subject to review by the
regulatory authorities, who may order the establishment of additional general or
specific loss allowances.

     In connection with the filing of its periodic reports with the OTS and in
accordance with its classification of assets policy, the Bank regularly reviews
the problem loans in its portfolio to determine whether any loans require
classification in accordance with applicable regulations. Criticized assets of
the Bank at December 31, 2001 were as follows:

<Table>
<Caption>
                                                                               December 31,
                                                                                   2001
                                                                           --------------------
                                                                               (Dollars In
                                                                                Thousands)
<S>                                                                        <C>
Substandard............................................................    $           1,897
Doubtful...............................................................                   --
Loss...................................................................                   --
                                                                           --------------------

Total classified assets................................................                1,897
Special mention assets.................................................                1,721
                                                                           --------------------

Total criticized assets................................................    $           3,618
                                                                           ====================
</Table>

     ALLOWANCE FOR LOAN LOSSES. The allowance for loan losses is established
through a provision for loan losses based on management's quarterly asset
classification review and evaluation of the risk inherent in its loan portfolio
and changes in the nature and volume of its loan activity. Such evaluation,
which includes a review of all loans of which full collectibility may not be
reasonably assured, considers among other matters, the estimated value of the
underlying collateral, economic conditions, cash flow analyses, historical loan
loss experience,

                                       15
<Page>

discussions held with delinquent borrowers and other factors that warrant
recognition in providing for an adequate loan allowance. Although management
believes it uses the best information available to make such determinations,
future adjustments to reserves may be necessary, and net income could be
significantly affected, if circumstances differ substantially from the
assumptions used in making the initial determinations.

     The following table sets forth an analysis of the Bank's allowance for loan
losses for the years indicated.

<Table>
<Caption>
                                                                                Year ended December 31
                                                       -----------------------------------------------------------------------
                                                           2001          2000            1999          1998           1997
                                                       -------------  ------------  -------------  ------------  -------------
                                                                                (Dollars In Thousands)
<S>                                                    <C>            <C>           <C>            <C>           <C>
Balance at beginning of year..............             $      681     $      864    $      601     $      527    $      429

Provision charged to operations...........                    449            199           324            238           118
Acquired reserve..........................                     --           (250)          250             --            --

Charge-offs:
Mortgage loans:
    Single family.........................                    (24)            --            --             --            (2)
    Commercial real estate................                     --             --            --             --            --
Consumer loans and other..................                   (418)          (151)         (342)          (190)          (60)

Recoveries:
Mortgage loans:
    Single family.........................                     --             --            --             --            21
    Commercial real estate................                     --             --            --             --            --
Consumer loans and other..................                     57             19            31             26            21
                                                       -------------  ------------  -------------  ------------  -------------

Balances at end of year...................             $      745     $      681    $      864     $      601    $      527
                                                       =============  ============  =============  ============  =============

Ratio of net charge-offs during the period
    to average loans outstanding during
    the period............................                   0.30%          0.12%         0.32%          0.22%         0.04%
                                                       =============  ============  =============  ============  =============

Allowance for loan losses to
    non-performing assets, at the end of
    year..................................                  37.02%        156.91%       276.84%        116.62%       634.94%
                                                       =============  ============  =============  ============  =============

Allowance for loan losses to total loans,
    at the end of year....................                   0.53%          0.57%         0.83%          0.68%         0.91%
                                                       =============  ============  =============  ============  =============
</Table>

                                       16
<Page>

INVESTMENT ACTIVITIES

     GENERAL. The Bank has maintained levels of investments that qualify as
liquid assets under OTS regulations. Liquidity may increase or decrease
depending upon the availability of funds and comparative yields on investments
in relation to the return on loans. Historically, the Bank has maintained liquid
assets at levels above the minimum requirements imposed by the OTS regulations
and at levels believed adequate to meet the requirements of normal operations,
including repayments of maturing debt and potential deposit outflows. Cash flow
projections are regularly reviewed and updated to assure that adequate liquidity
is maintained.

     Federally chartered thrift institutions have the authority to invest in
various types of liquid assets, including United States Treasury obligations,
securities of various federal agencies, certain certificates of deposit of
insured banks and savings institutions, certain bankers' acceptances, repurchase
agreements and federal funds. Subject to various restrictions, federally
chartered thrift institutions may also invest their assets in commercial paper,
investment grade corporate debt securities and mutual funds whose assets conform
to the investments that a federally chartered thrift institution is otherwise
authorized to make directly.

     Generally, the investment policy of the Bank is to invest funds among
various categories of investments and maturities based upon the Bank's
asset/liability management policies, investment quality and marketability,
liquidity needs and performance objectives.

     The Bank has a portfolio of mortgage-backed securities. Historically, most
of the Bank's mortgage-backed securities were long-term, fixed-rate federal
agency securities. In recent years, the Bank purchased other types of
mortgage-backed securities consistent with its asset/liability management and
balance sheet objectives. At December 31, 2001, approximately $6 million or 60%
of the Bank's mortgage-backed securities carried adjustable rates of interest.
The Bank's recent policy is to reduce mortgage-backed securities balances and
increase loans for yield enhancement.

     Under the OTS' risk-based capital requirements, GNMA mortgage-backed
securities have a zero percent risk-weighting and FNMA, FHLMC and AA- or higher
rated mortgage-backed securities have a 20% risk-weighting. None of the
mortgage-backed securities held by the Bank had a risk-weight for regulatory
capital purposes above 20%.

     All of the Bank's mortgage-backed securities are backed by FHLMC, GNMA or
FNMA, or are rated AA or higher. Accordingly, management believes that the
Bank's mortgage-backed securities generally are resistant to credit problems.

     The Bank's holdings of mortgage-backed securities have decreased in recent
years primarily as a result of increase in the Bank's loan portfolio. FHLMC and
GNMA mortgage-backed securities generally carry a yield below that of the
corresponding type of residential loan (due to the insurance or guarantee
feature of such securities and the retention of a servicing spread by the loan
servicer), and the Bank's other mortgage-backed securities also carry lower
yields (because such securities tend to have shorter actual durations than
30-year loans). The Bank will continue to evaluate corporate bonds, trust
preferred securities, mortgage-backed securities purchases and loan
securitizations of its existing loans in the future based on its strategic and
asset/liability objectives, market conditions and alternative investment
opportunities.

                                       17
<Page>

     The following table sets forth the composition of the Company's investment
portfolio at the dates indicated.

<Table>
<Caption>
                                                                             December 31
                                         -------------------------------------------------------------------------------------
                                                    2001                         2000                         1999
                                         ---------------------------  ---------------------------  ---------------------------
                                           Carrying        % of         Carrying        % of         Carrying        % of
                                            value          total         value          total         value          total
                                         -------------  ------------  -------------  ------------  -------------  ------------
                                                                        (Dollars In Thousands)
<S>                                      <C>               <C>        <C>               <C>         <C>              <C>
Available-for-sale:
Mortgage-backed securities:
   GNMA adjustable rate.............     $     5,558       53.2%      $    7,631         99.9%      $     9,120      100.0%
   GNMA fixed rate..................           4,204       40.2               --           --                --         --
Equity securities:
   FNMA common stock................               8        0.1                8          0.1                --         --
Trust preferred securities                       677        6.5               --           --                --         --
                                         -------------  ------------  -------------  ------------  -------------  ------------

       Total available-for-sale.....     $    10,447      100.0%      $    7,639        100.0%      $     9,120      100.0%
                                         =============  ============  =============  ============  =============  ============

Held-to-maturity:
Mortgage-backed securities:
   FNMA participation certificates..     $        --         --%     $       130          2.1%      $     1,515       22.1%
   FHLMC participation certificates.              --         --              973         16.0             2,176       31.7
   GNMA fixed rate..................              --         --            1,656         27.2                --         --
   FHLMC adjustable rate............             615       38.2              839         13.8               970       14.1
US Agency bonds                                   --         --            1,000         16.4             1,000       14.6
Corporate bonds                                  696       43.2            1,193         19.6               896       13.1
Trust preferred securities                       300       18.6              300          4.9               300        4.4
                                         -------------  ------------  -------------  ------------  -------------  ------------

       Total held-to-maturity.......           1,611      100.0%           6,091        100.0%            6,857      100.0%
                                         =============  ============  =============  ============  =============  ============

FHLB stock..........................             984                         945                            880
                                         -------------                -------------                -------------

Other interest-earning assets:
   Interest-bearing deposits with banks          798                       3,796                          5,092
                                         -------------                -------------                -------------

       Total........................     $    13,840                  $   18,471                    $    21,949
                                         =============                =============                =============

Average remaining life excluding
   other-interest-earning assets and
   FHLB stock (does not include
   prepayment assumptions)                  21 years                    13 years                       11 years
</Table>

                                       18
<Page>

The following table sets forth the composition and contractual maturities of the
Company's investment securities.

<Table>
<Caption>
                                                                     December 31, 2001
                              -------------------------------------------------------------------------------------------------
                                                                                                         Total investment
                                                                                                            securities
                                                                                                     --------------------------
                                Within        1 to 5        5 to 10       10 to 20       Over 20      Amortized      Market
                               one year        years         years         years          years         cost          value
                              ------------  ------------  ------------  -------------  ------------  ------------  ------------
                                                                   (Dollars In Thousands)
<S>                           <C>           <C>           <C>           <C>            <C>           <C>           <C>
Available-for-sale:
Mortgage-backed securities:
  GNMA adjustable rate.....   $        --   $        --   $        --   $     3,336    $     2,193   $     5,529   $     5,558
  GNMA fixed rate..........            --            --            --            --          4,136         4,136         4,204
Equity securities:
  FNMA common stock........            --            --            --            --              7             7             8
Trust preferred securities             --            --            --            --            655           655           677
                              ------------  ------------  ------------  -------------  ------------  ------------  ------------
    Total securities

      available-for-sale...   $        --   $        --   $        --   $     3,336    $     6,991   $    10,327   $    10,447
                              ============  ============  ============  =============  ============  ============  ============

Weighted average yield.....            --%           --%           --%         7.01%          6.85%         6.90%
                              ============  ============  ============  =============  ============  ============

<Caption>
                                                                     December 31, 2001
                              -------------------------------------------------------------------------------------------------
                                                                                                         Total investment
                                                                                                            securities
                                                                                                     --------------------------
                                Within        1 to 5        5 to 10       10 to 20       Over 20      Amortized      Market
                               one year        years         years         years          years         cost          value
                              ------------  ------------  ------------  -------------  ------------  ------------  ------------
                                                                   (Dollars In Thousands)
<S>                           <C>           <C>           <C>           <C>            <C>           <C>           <C>
Held-to-maturity:
Mortgage-backed securities:
  FHLMC participation
   certificates............   $        --   $        --   $        --   $       300    $       315   $       615   $       618
Corporate bonds............           399           297            --            --             --           696           714
Trust preferred securities             --            --            --            --            300           300           318
                              ------------  ------------  ------------  -------------  ------------  ------------  ------------

    Total securities

      held-to-maturity.....   $       399   $       297   $        --   $       300    $       615   $     1,611   $     1,650
                              ============  ============  ============  =============  ============  ============  ============

Weighted average yield.....          6.45%         6.50%           --%         7.41%          7.52%         7.05%
                              ============  ============  ============  =============  ============  ============
</Table>

     OTHER INVESTMENTS. At December 31, 2001, the Bank's fixed-rate interest
bearing deposits with banks were $798,000 or 0.45% of total assets. As of such
date, the Bank also had a $984,200 investment in FHLB stock. At December 31,
2001, the Bank's investment in stock of the FHLB was in an amount required by
the FHLB. It is the Bank's general policy to purchase investment securities and
other issues that are rated investment grade or have credit enhancements.

SOURCES OF FUNDS

     THE COMPANY. The Company's primary sources of funds are dividends from the
Bank, borrowings from the Bank in the form of advances and outside borrowings.
The Bank paid dividends to the Company of $608,000 and $0 in the years ended
December 31, 2001 and 2000, respectively. The Bank had advances of $0 and
$50,718 to the Company at December 31, 2001 and 2000, respectively.

     At December 31, 2001 and 2000, the Company had lines of credit totaling
$400,000 and $200,000 respectively, from other banks. Borrowings outstanding
under these arrangements were $0 and $200,000 at December 31, 2001 and 2000,
respectively. The lines of credit bear market rates of interest and borrowings
thereunder are to be used for general Company purposes. One of the borrowing
arrangements at December 31, 2001 matured at January 24, 2002, which was renewed
for a year. The other borrowing arrangement matures on September 20, 2002.

                                       19
<Page>

     THE BANK. The Bank's primary sources of funds are deposits, amortization
and prepayment of loan principal, sales or maturities of loans, investment
securities, mortgage-backed securities and short-term investments, borrowings
and funds provided from operations.

     Borrowings, predominantly from the FHLB of Dallas, may be used on a
short-term basis to compensate for seasonal reductions in deposits or deposit
inflows at less than projected levels, and may be used in the future on a
longer-term basis to support lending and investing activities.

     The Bank offers a variety of deposit accounts having a wide range of
interest rates and terms. The Bank's deposits consist of statement savings, NOW
accounts and money market accounts and CDs. The Bank relies primarily on
advertising, competitive pricing policies and customer service to attract and
retain these deposits. The Bank solicits deposits from its primary market area
only and does not use brokers to obtain deposits.

     The flow of deposits is significantly influenced by general economic
conditions, changes in money markets and prevailing interest rates and
competition. The Bank enhanced its ability to increase its deposit base by
purchasing two branches in 1999 and opening a new full-service branch in
Albuquerque in 2000. Beginning in 1999 and continuing through 2001, the Bank has
increased its deposit base. In the first quarter of 2002, the Bank intends to
open a new branch at 3301 Coors Blvd., N.W., Suite 2 in Albuquerque, New Mexico.

     Management believes that customers continue to place a value on federal
insurance on deposit accounts and that, to the extent the Bank maintains
competitive rates, it will be able to maintain its deposit and liquidity levels.
The Bank manages the pricing of its deposits in keeping with its asset/liability
management and profitability objectives.

     Based on its experience, the Bank believes that its savings accounts,
interest-bearing and non-interest-bearing checking accounts are relatively
stable sources of deposits. However, the ability of the Bank to attract and
maintain CDs, and the rates paid on these deposits, has been and will continue
to be significantly affected by market conditions.

     The following tables set forth the deposits in the various programs offered
by the Bank at the dates indicated:

<Table>
<Caption>
                 Balance                           Balance                           Balance                          Balance
                   at                                 at                                at                               at
                 December      % of     Increase   December     % of     Increase    December    % of      Increase   December
                 31, 2001    deposits  (decrease)  31, 2000   deposits  (decrease)   31, 1999   deposits  (decrease)  31, 1998
                 ----------  --------  ---------- ----------- --------- ----------- ----------  --------  ---------- -----------
                                                              (Dollars In Thousands)
<S>              <C>          <C>      <C>        <C>          <C>      <C>         <C>          <C>      <C>        <C>
Transactional
  accounts       $  19,068     12.98%  $    (592) $  19,660     14.32%  $   2,427   $  17,233     14.07%  $   5,328  $  11,905
Jumbo CDs            6,124      4.17      (8,621)    14,745     10.74       4,911       9,834      8.03         513      9,321
Savings
  accounts           5,736      3.90        (339)     6,075      4.43        (928)      7,003      5.72         665      6,338
Money market
  deposit
  accounts          27,097     18.44       4,799     22,298     16.24      (1,791)     24,089     19.67       5,335     18,754
IRA accounts        11,147      7.59         479     10,668      7.77      (1,206)     11,874      9.69       2,333      9,541
Other CDs           77,748     52.92      13,918     63,830     46.50      11,383      52,447     42.82       3,261     49,186
                 ----------  --------  ---------- ----------- --------- ----------- ----------  --------  ---------- -----------
                 $ 146,920    100.00%  $   9,644  $ 137,276    100.00%  $  14,796   $ 122,480    100.00%  $  17,435  $ 105,045
                 ==========  ========  ========== =========== ========= =========== ==========  ========  ========== ===========
</Table>

                                       20
<Page>

<Table>
<Caption>
                                      December 31, 2001               December 31, 2000                  December 31, 1999
                               -------------------------------- -------------------------------   --------------------------------
                               Weighted                          Weighted                          Weighted
                               average               Percentage   average             Percentage    average            Percentage
  Minimum                      interest               of total   interest             of total     interest              of total
  amount         Category        rate      Balance    deposits     rate     Balance   deposits       rate     Balance    deposits
------------ ----------------- ---------- ---------- ---------- --------- ----------- ---------   ---------- ---------- ----------
                                                                    (Dollars In Thousands)
<S>          <C>                    <C>   <C>          <C>           <C>   <C>           <C>            <C>   <C>          <C>
$    100     Transactional
              accounts
              zero-rate             0.00% $  10,081      6.86%       0.00% $  11,030       8.03%        0.00% $   8,033      6.56%
     100     Transactional
              accounts              0.48      8,987      6.12        0.92      8,630       6.29         1.02      9,200      7.51
   1,000     Money market           0.82      4,960      3.38        2.41      6,605       4.81         2.56      9,201      7.51
     100     Savings accounts       0.80      5,736      3.90        1.50      6,075       4.43         2.00      7,003      5.72
   2,500     Access money market    2.32     22,137     15.06        4.44     15,693      11.43         3.82     14,888     12.16

             Certificates of
              Deposit
   1,000     30-60 day CDs          1.15         50      0.03        2.87         53       0.04         2.91        211      0.17
   1,000     91 day CDs             1.33        205      0.14        5.21      1,444       1.05         4.01      2,300      1.88
   1,000     6 month CDs            3.28     12,373      8.42        5.67     11,944       8.70         4.33     12,699     10.37
   1,000     9 month CDs            4.12      2,051      1.40        6.75      5,481       3.99           --         --        --
   1,000     1 year CDs             4.36     21,583     14.70        5.79     21,183      15.45         4.51     20,113     16.41
   1,000     14 month CDs           3.71     21,142     14.38        6.95      8,840       6.44           --         --        --
   1,000     18 month CDs           4.22     10,613      7.22        5.49      3,905       2.84         4.74      3,317      2.71
   1,000     2 year CDs             5.03      2,100      1.43        4.92      2,741       2.00         4.89      3,992      3.26
   1,000     30 month CDs           4.26      1,125      0.77        4.59      1,748       1.27         5.01      2,688      2.19
   1,000     3 year CDs             5.49      2,447      1.67        5.60      1,914       1.39         5.50      1,745      1.42
   1,000     4 year CDs             4.90        752      0.51        5.11      1,514       1.10         5.07      1,550      1.27
   1,000     5 year CDs             5.41      3,307      2.25        5.54      3,063       2.23         5.74      3,832      3.13
  90,000     Jumbo CDs              5.07      6,124      4.17        6.18     14,745      10.74         4.91      9,834      8.03
     100     IRA floating rate      2.70      2,102      1.43        4.55      2,741       2.00         4.87      4,501      3.67
     100     1 year IRA             4.63      3,668      2.50        5.08      3,026       2.20         4.41      2,410      1.97
     100     15 month IRA           5.85          2        --        5.84        357       0.26           --         --        --
     100     2 year IRA               --         --        --        4.26         66       0.05         4.80        231      0.19
     100     3 year IRA             5.51      2,735      1.86        5.40      2,197       1.60         5.19      2,003      1.64
     100     5 year IRA             5.51      2,640      1.80        5.66      2,281       1.66         5.81      2,729      2.23
                               ---------- ---------- ---------- --------- ------------ ---------   ---------- ---------- ----------
                                    3.16% $ 146,920    100.00%       4.54% $ 137,276     100.00%        3.72% $ 122,480    100.00%
                               ========== ========== ========== ========= ============ =========   ========== ========== ==========
</Table>

     The following table sets forth the savings flows of the Bank during the
periods indicated. Net deposits (withdrawals) refer to the amount of deposits
during a period less the amount of withdrawals during the same period. Deposit
flows at savings institutions may also be influenced by external factors such as
governmental credit policies and depositors' perceptions of the adequacy of
federal insurance of accounts.

<Table>
<Caption>
                                                                                    Year Ended December 31
                                                                           ------------------------------------------
                                                                               2001          2000           1999
                                                                           -------------  ------------  -------------
                                                                                    (Dollars In Thousands)
<S>                                                                        <C>            <C>           <C>
Net deposits (withdrawals) before interest credited....................    $    3,895     $    9,623    $  (10,798)
Interest credited......................................................         5,749          5,173         4,341
                                                                           -------------  ------------  -------------

          Net increase (decrease) in deposits..........................    $    9,644     $   14,796    $   (6,457)
                                                                           =============  ============  =============

Percent increase.......................................................          7.26%         12.08%        (6.15)%
</Table>

In addition, during 1999, the Bank acquired approximately $23.9 million in
deposits.

                                       21
<Page>

     The following table shows interest rate and maturity information for the
Bank's time deposits as of December 31, 2001.

<Table>
<Caption>
                                  0.00-           3.00-           5.00-            7.00-                          Percent
                                  2.99%           4.99%           6.99%            8.99%           Total          of total
                              --------------  --------------  --------------   --------------  --------------  --------------
                                                                  (Dollars In Thousands)
<S>                           <C>             <C>             <C>              <C>             <C>                 <C>
Time deposits maturing
in quarter ending:

March 31, 2002...........     $       1,288   $       8,835   $      10,169    $          --   $      20,292        21.36%
June 30, 2002............             3,821          10,339           4,239               --          18,399        19.36
September 30, 2002.......               457           9,053           2,846               --          12,356        13.00
December 31, 2002........             1,593          16,879           1,650               --          20,122        21.17
March 31, 2003...........               623          10,107           2,040               --          12,770        13.44
June 30, 2003............             2,000           1,891             571               --           4,462         4.70
September 30, 2003.......                --             203             462               --             665         0.70
December 31, 2003........                --             405             666               --           1,071         1.13
March 31, 2004...........                --             167           1,163               --           1,330         1.40
June 30, 2004............                --             312             540               --             852         0.90
September 30, 2004.......                --             246             283               --             529         0.56
December 31, 2004........                --             166              43               --             209         0.22
Thereafter...............                --             805             998              159           1,962         2.06
                              --------------  --------------  --------------   --------------  --------------  --------------

     Total                    $       9,782   $      59,408   $      25,670    $         159   $      95,019       100.00%
                              ==============  ==============  ==============   ==============  ==============  ==============

     Percent of total                 10.29%          62.52%          27.02%            0.17%         100.00%
                              ==============  ==============  ==============   ==============  ==============
</Table>

     The following table indicates the amount of the Bank's time deposits by
size or from public entities, by time remaining until maturity as of December
31, 2001.

<Table>
<Caption>
                                                                         Maturity
                                              ---------------------------------------------------------------
                                                                  Over             Over
                                                3 months         3 to 6           6 to 12          Over
                                                 or less         months           months         12 months         Total
                                              --------------  --------------   --------------  --------------  --------------
                                                                          (Dollars In Thousands)
<S>                                           <C>             <C>              <C>             <C>             <C>
Time deposits of $100,000 or less.....        $      16,983   $      16,300    $      24,294   $      17,336   $      74,913

Time deposits over $100,000...........                2,809           1,601            5,179           3,514          13,103

Public funds(1).......................                  500             498            3,005           3,000           7,003
                                              --------------  --------------   --------------  --------------  --------------

Total time deposits...................        $      20,292   $      18,399    $      32,478   $      23,850   $      95,019
                                              ==============  ==============   ==============  ==============  ==============

</Table>

----------
(1) Time deposits from government and other public entities.

     From time to time, the Bank has had greater amounts of public funds. The
amount of public funds held by the Bank at December 31, 2001 and 2000 was
$8,402,922 and $11,725,261, respectively. The Bank is required to pledge
collateral or a letter of credit from FHLB for such funds. At December 31, 2001,
the Bank has issued $4,000,000 in letters of credit relating to public funds.

                                       22
<Page>

     BORROWINGS. Although deposits are the Bank's primary source of funds, the
Bank's policy has been to utilize borrowings when there is a net outflow of
deposits, when advances are a less costly source of funds or when funds from
advances can be invested at a positive spread. In addition, the Bank has relied
upon selected borrowings for short-term liquidity needs.

     The Bank may obtain advances from the FHLB of Dallas upon the security of
its capital stock of the FHLB of Dallas and certain of its mortgage loans,
investment securities and mortgage-backed securities. Such advances may be made
pursuant to several different credit programs, each of which has its own
interest rate and range of maturities. At December 31, 2001, the Bank had
$8,750,000 in FHLB borrowings outstanding, which allowed the Bank to increase
the amount of its loans receivable.

     During fiscal 2001, the Bank utilized advances from FHLB of Dallas to cover
funding of loans.

     The following table sets forth maximum balance, average balance, and
average rate paid on FHLB advances for the period indicated.

<Table>
<Caption>
                                                                                   Year ended December 31
                                                                          ------------------------------------------
                                                                              2001          2000           1999
                                                                          -------------  ------------  -------------
                                                                                   (Dollars In Thousands)
<S>                                                                         <C>            <C>           <C>
Maximum amount of borrowings outstanding...............................     $   12,050     $   16,500    $   16,450

Approximate average borrowings outstanding.............................     $    5,840     $    8,294    $    8,661

Approximate weighted average interest rate paid........................           4.54%          6.12%         5.38%
</Table>

     On July 17, 2001, the Company issued $4 million of 10.25% Fixed Rate
Capital Trust Pass-through Securities of Access Anytime Capital Trust I with a
liquidation value of $1,000 per share to mature 30 years from the date of
issuance. The Company then invested approximately $2.9 million of the net
proceeds in the Bank to increase its capital levels.

SUBSIDIARY OF THE BANK

     In 1974, the Bank incorporated First Equity Development Corporation
("FEDCO"), a New Mexico corporation, as a wholly-owned subsidiary of the Bank.
The directors and officers of FEDCO also serve as officers of the Bank. Prior to
1991, FEDCO's primary business was real estate acquisition, development and
construction, and investment in the Bank's former data processing service
bureau. FEDCO had $817 and $842 in cash at December 31, 2001 and 2000, and no
other assets or liabilities and is currently an inactive corporation. Thrift
institutions are permitted to invest an amount equal to 2% of their assets,
through a subsidiary, with an additional investment of 1% of assets where such
investment serves primarily community, inner-city and community development
purposes.

REGULATION

     GENERAL. The Bank is subject to extensive regulation, examination and
supervision by the OTS, as its chartering agency, and the FDIC, as its deposit
insurer. The Bank's deposit accounts are insured up to applicable limits by the
SAIF administered by the FDIC, and it is a member of the FHLB of Dallas. The
Bank must file reports with the OTS and the FDIC concerning its activities and
financial condition, and it must obtain regulatory approvals prior to entering
into certain transactions, such as mergers with, or acquisitions of, other
depository institutions. The OTS and the FDIC conduct periodic examinations to
assess the Bank's compliance with various regulatory requirements. Such
regulation and supervision establish a comprehensive framework of activities in
which an institution may engage and are intended primarily for the protection of
the insurance fund and depositors. The Company, as a unitary thrift holding
company, is required to file certain reports with, and otherwise comply with,
the rules and regulations of the OTS and of the SEC under the federal securities
laws.

                                       23
<Page>

     The OTS and the FDIC have significant discretion in connection with their
supervisory and enforcement activities and examination policies, including
policies with respect to the classification of assets and the establishment of
adequate loan loss reserves for regulatory purposes. Any change in such
regulation and policies, whether by the OTS, the FDIC or action of the United
States Congress, could have an impact on the Company, the Bank and the
operations of both.

     REGULATION OF THE COMPANY. The Company, as a unitary thrift holding
company, is a savings and loan holding company within the meaning of HOLA. As
such, the Company is required to register with the OTS and is subject to OTS
regulations, examinations, supervision and reporting requirements. In addition,
the OTS has enforcement authority over the Company and its non-thrift
subsidiaries, if any. Among other things, this authority permits the OTS to
restrict or prohibit activities that are determined to be a serious risk to the
financial safety, soundness or stability of a subsidiary savings association.

     Except under limited circumstances, thrift holding companies are prohibited
from acquiring, without prior approval of the OTS, control of any other savings
institutions or thrift holding company or substantially all the assets thereof
or more than five percent of the voting shares of a thrift institution or
holding company thereof which is not a subsidiary. In evaluating an application
by a holding company to acquire a thrift association, the OTS must consider the
financial and managerial resources and future prospects of the company and
thrift association involved, the effect of the acquisition on the risk to the
insurance funds, the convenience and needs of the community and competitive
factors. Acquisitions which result in a thrift holding company controlling
thrift associations in more than one state are generally prohibited except in
supervisory transactions involving failing savings associations or based on
specific state authorization to permit such acquisitions.

     Federal law also requires OTS approval prior to any change of control of
the Company or the Bank. Under OTS regulations, "control" is presumed to exist
if an individual or company acquires more than twenty-five percent of any class
of voting stock of a thrift association or holding company. Control is also
presumed to exist, subject to being rebutted, if a person acquires more than ten
percent of any class of voting stock (or more than twenty-five percent of any
class of non-voting stock) and is subject to any of several control factors,
including, among other matters, the relative ownership position of a person, the
existence of control agreements and other factors.

     As a unitary thrift holding company, the Company generally will not be
restricted under existing laws to the types of business activities in which it
may engage, provided that the Bank continues to satisfy the QTL test. Upon any
non-supervisory acquisition by the Company of another thrift or savings bank
that meets the QTL test and is deemed to be a savings association by the OTS and
that will be held as a separate subsidiary, the Company would become a multiple
thrift holding company and would be subject to limitations on the types of
business activities in which it could engage. HOLA generally limits the
activities of a multiple thrift holding company and its non-insured association
subsidiaries primarily to activities permissible for bank holding companies
under the Bank Holding Company Act, subject to the prior approval of the OTS,
and to other activities authorized by OTS regulation.

     A thrift association or a thrift holding company is required to give 30
days prior written notice to the OTS of any proposed appointment of a director
or senior executive officer if the institution has been chartered less than two
years, has undergone a change in control within the preceding two years, or is
not in compliance with the minimum capital requirements or otherwise is in a
troubled condition. The OTS then has the opportunity to disapprove any such
appointment.

     Transactions between the Bank and the Company and its other subsidiaries
are subject to various conditions and limitations. Well run, healthy thrift
institutions that satisfy certain criteria would be permitted to file with the
OTS schedules of proposed capital distributions over a specified period not to
exceed 12 months. The Bank being a wholly owned subsidiary of a thrift holding
company must file a notice with the OTS of anticipated distributions of capital.

                                       24
<Page>

     FEDERAL SECURITIES LAW. The stock of the Company is registered with the SEC
under the Securities Exchange Act of 1934 ("Exchange Act"). The Company is
subject to the information, proxy solicitation, insider trading restrictions and
other requirements of the SEC under the Exchange Act.

     Company stock held by persons who are affiliates (generally officers,
directors and principal stockholders) of the Bank may not be resold without
registration or unless sold in accordance with certain resale restrictions. If
the Company meets specified current public information requirements, each
affiliate of the Company is able to sell in the public market, without
registration, a limited number of shares in any three-month period.

     INSURANCE OF ACCOUNTS AND REGULATIONS BY THE FDIC. The Bank is a member of
the SAIF, which is administered by the FDIC. Deposits are insured up to
applicable limits by the FDIC and such insurance is backed by the full faith and
credit of the United States Government. As insurer, the FDIC imposes deposit
insurance premiums and is authorized to conduct examinations of and to require
reporting by FDIC-insured institutions. It also may prohibit any FDIC-insured
institution from engaging in any activity the FDIC determines by regulation or
order to pose a serious risk to the FDIC. The FDIC also has the authority to
initiate enforcement actions against thrift associations, after giving the OTS
an opportunity to take such action, and may terminate the deposit insurance if
it determines that the institution has engaged or is engaging in unsafe or
unsound practices, or is in an unsafe or unsound condition. The FDIC may
initiate an examination for institutions graded 3, 4, or 5 without approval of
the other agencies.

     The FDIC's deposit insurance premiums are assessed through a risk-based
system under which all insured depository institutions are placed into one of
nine categories and assessed insurance premiums based upon their level of
capital and supervisory evaluation. Under the system, institutions classified as
well capitalized (i.e., a core capital ratio of at least 5%, a ratio of Tier 1
or core capital to risk-weighted assets of at least 6% and a risk-based capital
ratio of at least 10%) and considered healthy pay the lowest premium, while
institutions that are less than adequately capitalized (i.e., core or Tier 1
risk-based capital ratios of less than 4% or a risk-based capital ratio of less
than 8%) and considered of substantial supervisory concern pay the highest
premium. Risk classification of all insured institutions will be made by the
FDIC for each semi-annual assessment period.

     REGULATORY CAPITAL REQUIREMENTS. Federally insured thrift associations,
such as the Bank, are required to maintain a minimum level of regulatory
capital. The OTS has established capital standards, including a tangible capital
requirement, a leverage ratio (or core capital) requirement and a risk-based
capital requirement applicable to such thrift associations. These capital
requirements must be generally as stringent as the comparable capital
requirements for national banks. The OTS is also authorized to impose capital
requirements in excess of these standards on individual associations on a
case-by-case basis.

     The capital regulations require tangible capital of at least 1.5% of
adjusted total assets (as defined by regulation). Tangible capital generally
includes common stockholders' equity and retained income, and certain
noncumulative perpetual preferred stock and related income. Intangible assets
including disallowed servicing assets and disallowed deferred tax assets are
deducted from capital to calculate adjusted tangible capital.

     The OTS regulations establish special capitalization requirements for
thrift associations that own subsidiaries. Under these regulations certain
subsidiaries are consolidated for capital purposes and others are excluded from
assets and capital. In determining compliance with the capital requirements, all
subsidiaries engaged solely in activities permissible for national banks or
engaged in certain other activities solely as agent for its customers are
"includable" subsidiaries that are consolidated for capital purposes in
proportion to the association's level of ownership, including the assets of
includable subsidiaries in which the association has a minority interest that is
not consolidated for accounting principles generally accepted in the United
States of America purposes. For excludable subsidiaries, the debt and equity
investments in such subsidiaries are deducted from assets and capital, with a
five-year transition period beginning on July 1, 1990, for investments made
before April 12, 1989. At December 31, 2001, the Bank had tangible capital of
$15,811,340 or 9.16% of adjusted total

                                       25
<Page>

assets (as defined by regulation), which was $13,222,352 above the minimum
requirement of 1.5% of adjusted total assets in effect on that date.

     The capital standards also require core capital equal to at least 3% of
adjusted total assets (as defined by regulation). Core capital generally
consists of tangible capital plus certain intangible assets, including a limited
amount of purchased credit card relationships. A thrift association must
maintain a core capital ratio of at least 4% to be considered adequately
capitalized unless its supervisory condition is such to allow it to maintain a
3% ratio. At December 31, 2001, the Bank had core capital equal to $15,811,340
or 9.16% of adjusted total assets, which was $8,907,372 above the minimum
leverage ratio requirement of 4% as in effect on that date.

     The OTS risk-based requirement requires thrift associations to have total
capital of at least 8% of risk-weighted assets (as defined by regulation). Total
capital consists of core capital, as defined above, and supplementary capital.
Supplementary capital consists of certain permanent and maturing capital
instruments that do not qualify as core capital and general valuation loan and
lease loss allowances up to a maximum of 1.25% of risk-weighted assets.
Supplementary capital may be used to satisfy the risk-based requirement only to
the extent of core capital. The OTS is also authorized to require a thrift
association to maintain an additional amount of total capital to account for
concentration of credit risk and the risk of non-traditional activities. At
December 31, 2001, the Bank had no capital instruments that qualify as
supplementary capital. In addition, general loss reserves at that date were less
than 1.25% of risk-weighted assets.

     Certain exclusions from capital and assets are required to be made for the
purpose of calculating total capital. Such exclusions consist of equity
investment (as defined by regulation) and that portion of land loans and
nonresidential construction loans in excess of an 80% loan-to-value ratio and
reciprocal holdings of qualifying capital instruments. The Bank had no such
exclusions from capital and assets at December 31, 2001.

     In determining the amount of risk-weighted assets, all assets, including
certain off-balance sheet items, will be multiplied by a risk weight, ranging
from 0% to 100%, based on the risk inherent in the type of asset. For example,
the OTS has assigned a risk weight of 50% for prudently underwritten permanent
one-to-four family first lien mortgage loans not more than 90 days delinquent
and having a loan to value ratio of not more than 80% at origination unless
insured to such ratio by an insurer approved by the FNMA or FHLMC.

     At December 31, 2001, the Bank had total risk-based capital of $16,556,327
or 13.25% of risk-weighted assets. This amount was $6,558,167 above the 8%
requirement in effect on that date.

     The OTS has adopted a rule that requires every thrift association with more
than normal interest rate risk to deduct from its total capital, for purposes of
determining compliance with such requirement, an amount equal to 50% of its
interest rate risk exposure multiplied by the present value of its assets. This
exposure is a measure of the potential decline in the net portfolio value of a
thrift association, greater than 2% of the present value of its assets, based
upon a hypothetical 200 basis point increase or decrease in interest rates
(whichever results in a greater decline). Net portfolio value is the present
value of expected cash flows from assets, liabilities and off-balance sheet
contracts. The rule provides for a two quarter lag between calculating interest
rate risk and recognizing any deduction from capital. Any thrift association
with less than $300 million in assets and a total capital ratio in excess of 12%
is exempt from this requirement unless the OTS determines otherwise.

     The OTS and the FDIC are authorized and, under certain circumstances
required, to take certain actions against thrift associations that fail to meet
their capital requirements. The OTS is generally required to take action to
restrict the activities of an "undercapitalized association" (generally defined
to be one with less than either a 4% core capital ratio, a 4% Tier 1 risk-based
capital ratio or an 8% risk-based capital ratio). Any such association must
submit a capital restoration plan and until such plan is approved by the OTS may
not increase its assets, acquire another institution, establish a branch or
engage in any new activities, and generally may not make capital distributions.
The OTS is authorized to impose the additional restrictions, discussed below,
that are applicable to significantly undercapitalized associations.

                                       26
<Page>

     As a condition to the approval of the capital restoration plan, any company
controlling an undercapitalized association must agree that is will enter into a
limited capital maintenance guarantee with respect to the institution's
achievement of its capital requirements.

     Any thrift association that fails to comply with its capital plan or is
"significantly undercapitalized" (i.e., Tier 1 risk-based or core capital ratios
of less than 3% or a risk-based capital ratio of less than 6%) must be made
subject to one or more of additional specified actions and operating
restrictions. These actions and restrictions include requiring the issuance of
additional voting securities; limitations on asset growth; mandated asset
reduction; changes in senior management; divestiture, merger or acquisition of
the association; restrictions on executive compensation; and any other action
the OTS deems appropriate. An association that becomes "critically
undercapitalized" (i.e., a tangible capital ratio of 2% or less) is subject to
further mandatory restrictions on its activities in addition to those applicable
to significantly undercapitalized associations. In addition, the OTS must
appoint a receiver (or conservator with the concurrence of the FDIC) for a
thrift association, with certain limited exceptions, within 90 days after it
becomes critically undercapitalized.

     Any undercapitalized association is also subject to other possible
enforcement actions by the OTS or the FDIC. Such actions could include a capital
directive, a cease-and-desist order, civil money penalties, the establishment of
restrictions on all aspects of the Bank's operations or the appointment of a
receiver or conservator or a forced merger into another institution.

     If the OTS determines that an association is in an unsafe or unsound
condition or is engaged in an unsafe or unsound practice, it is authorized to
reclassify a well-capitalized association as an adequately capitalized
association and if the association is adequately capitalized, to impose the
restrictions applicable to an undercapitalized association. If the association
is undercapitalized, the OTS is authorized to impose the restrictions applicable
to a significantly undercapitalized association.

     The imposition by the OTS or the FDIC of any of these measures on the Bank
may have a substantial adverse effect on the Company's operations and
profitability. The Company's shareholders do not have preemptive rights, and
therefore, if the Bank is directed by the OTS or the FDIC to issue additional
shares of Common Stock, such issuance may result in the dilution in the
percentage of ownership of the Company.

     LIMITATIONS ON DIVIDENDS AND OTHER CAPITAL DISTRIBUTIONS. OTS regulations
impose various restrictions on thrift associations with respect to their ability
to make distributions of capital, which include dividends, stock redemptions or
repurchases, cash-out mergers and other transactions charged to the capital
account. OTS regulations also prohibit a thrift association from declaring or
paying any dividends or from repurchasing any of its stock if, as a result, the
regulatory capital of the association would be reduced below the amount required
to be maintained for the liquidation account established in connection with its
mutual to stock conversion.

     Generally, thrift associations, such as the Bank, that before and after the
proposed distribution meet their capital requirements, may make capital
distributions during any calendar year equal to the greater of 100% of net
income for the year-to-date plus 50% of the amount by which the lesser of the
association's tangible, core or risk-based capital exceeds its capital
requirement for such capital component, as measured at the beginning of the
calendar year, or requirement for such capital component, as measured at the
beginning of the calendar year, or 75% of its net income for the most recent
four quarter period. However, an association deemed to be in need of more than
normal supervision by the OTS may have its dividend authority restricted by the
OTS. The Bank may pay dividends in accordance with this general authority.

     Thrift associations proposing to make any capital distributions need only
submit written notice to the OTS 30 days prior to such distribution. Thrift
associations that do not, or would not meet their current minimum capital
requirements following a proposed capital distribution, however, must obtain OTS
approval prior to making such distribution. The OTS may object to the
distribution during that 30-day period notice based on safety and soundness
concerns.

     QUALIFIED THRIFT LENDER TEST. All thrift associations, including the Bank,
are required to meet a QTL test to avoid certain restrictions on their
operations. This test requires a savings association to have at least 65% of

                                       27
<Page>

its portfolio assets (as defined by regulation) in qualified thrift investments
on a monthly average for nine out of every 12 months on a rolling basis. As an
alternative, the thrift association may maintain 60% of its assets in those
assets specified in Section 7701(a)(19) of the Internal Revenue Code. Under
either test, such assets primarily consist of residential housing related loans
and investments. At December 31, 2001, the Bank met the QTL test and has always
met the test since its inception.

     Any thrift association that fails to meet the QTL test must convert to a
national bank charter, unless it requalifies as a QTL and thereafter remains a
QTL. Requalification as a QTL is restricted to one time only. If an association
does not requalify and converts to a national bank charter, it must remain
SAIF-insured until the FDIC permits it to transfer to the BIF. If an association
that fails the test has not yet requalified and has not converted to a national
bank, its new investments and activities are limited to those permissible for
both a thrift association and a national bank, and it is limited to national
bank branching rights in its home state. In addition, the association is
immediately ineligible to receive any new FHLB borrowings and is subject to
national bank limits for payment of dividends. If such association has not
requalified or converted to a national bank within three years after the
failure, it must divest of all investments and cease all activities not
permissible for a national bank. In addition, it must repay promptly any
outstanding FHLB borrowings, which may result in prepayment penalties. If any
association that fails the QTL test is controlled by a holding company, then
within one year after the failure, the holding company must register as a bank
holding company and become subject to all restrictions on bank holding
companies.

     COMMUNITY REINVESTMENT ACT. Under the CRA, every FDIC insured institution
has a continuing and affirmative obligation consistent with safe and sound
banking practices to help meet the credit needs of its entire community,
including low and moderate-income neighborhoods. The CRA does not establish
specific lending requirements or programs for financial institutions nor does it
limit an institution's discretion to develop the types of products and services
that it believes are best suited to its particular community, consistent with
the CRA. The CRA requires the OTS, in connection with the examination of the
Bank, to assess the institution's record of meeting the credit needs of its
community and to take such record into account in its evaluation of certain
applications, such as a merger or the establishment of a branch, by the Bank. An
unsatisfactory rating may be used as the basis for the denial of an application
by the OTS. The most recent CRA examination as of June 28, 1999 classified the
Bank as satisfactory.

     The federal banking agencies, including the OTS, revised the CRA
regulations and the methodology for determining an institution's compliance with
the CRA. Due to the heightened attention being given to the CRA, the Bank may be
required to devote additional funds for investment and lending in its local
communities.

     TRANSACTIONS WITH AFFILIATES. Generally, transactions between a thrift
association or its subsidiaries and its affiliates are required to be on terms
as favorable to the association as transactions with non-affiliates. In
addition, certain of these transactions, such as loans to an affiliate, are
restricted to a percentage of the association's capital. Affiliates of the Bank
include the Company and any company which is under common control with the Bank.
In addition, a thrift association may not lend to any affiliate engaged in
activities not permissible for a bank holding company or acquire the securities
of most affiliates. The OTS has the discretion to treat subsidiaries of thrift
associations as affiliates on a case-by-case basis.

     Certain transactions with directors, officers or controlling persons are
also subject to conflict of interest regulations enforced by the OTS. These
conflict of interest regulations and other statutes also impose restrictions on
loans to such persons and their related interests. Among other things, such
loans must be made on terms substantially the same as for loans to unaffiliated
individuals. At December 31, 2001, loans to directors, executive officers, and
major stockholders were $1,429,690.

     FEDERAL HOME LOAN BANK SYSTEM. The Bank is a member of the FHLB of Dallas,
which is one of 12 regional FHLBs that administer the home financing credit
function of thrift associations. Each FHLB serves as a reserve or central bank
for its members within its assigned region. It is funded primarily from proceeds
derived from the sale of consolidated obligations of the FHLB System. It makes
loans to members (i.e., advances) in

                                       28
<Page>

accordance with policies and procedures established by the board of directors of
the FHLB. These policies and procedures are subject to the regulation and
oversight of the Federal Housing Finance Board. All advances from the FHLB are
required to be fully secured by sufficient collateral as determined by the FHLB.
In addition, all long-term advances are required to provide funds for
residential home financing.

     Under federal law, the FHLBs are required to provide funds for the
resolution of troubled thrift associations and to contribute to low- and
moderately-priced housing programs through direct loans or interest subsidies on
advances targeted for community investment and low- and moderate-income housing
projects. These contributions have affected adversely the level of FHLB
dividends paid and could continue to do so in the future. These contributions
could also have an adverse effect on the value of FHLB stock in the future. A
reduction in value of the Bank's FHLB stock may result in a corresponding
reduction in the Bank's capital.

     As a member, the Bank is required to purchase and maintain stock in the
FHLB of Dallas. At December 31, 2001, the Bank had $984,200 in FHLB stock. The
Bank has received dividends on its FHLB stock which have averaged 5.63% over the
past five calendar years and were 4.14% for calendar year 2001. In addition, the
Bank received a one-time special dividend of $14,400 in April 2000.

     For the year ended December 31, 2001, stock and cash dividends paid by the
FHLB of Dallas to the Bank totaled $39,792 which constitutes a $17,781 decrease
from the amount of dividends received in fiscal year 2000. The decrease in FHLB
dividends in 2001 was primarily due to the one-time special dividend of $14,400
during 2000. The $7,387 dividend received for the quarter ended December 2001
reflects an annualized rate of 3.00%.

     FINAL REGULATORY ACTIONS FOR 2001.

<Table>
<Caption>
        AGENCY                                      FINAL ACTIONS                                       STATUS
-----------------------   ---------------------------------------------------------------  -------------------------------------
<S>                       <C>                                                              <C>
FRB                       Rules to permit electronic delivery of federally mandated        Effective October 1, 2001.
                          disclosures under Regulations B, E, M, Z, and DD.

FRB, FDIC, OCC, OTS       Revisions to risk-based capital requirements for certain         Effective October 1, 2001.
                          securitized transactions.

FRB                       Changes in Regulation Z requiring "more prominent"               Effective October 1, 2001.
                          disclosure of  APRs, fees, and other charges for
                          credit and charge card solicitation and applications.

FRB                       Approval for financial holding companies to act as               Effective January 22, 2001.
                          finders.

FRB                       Final rules for financial holding company qualification.         Effective February 3, 2001.

SEC                       Rule limiting use of external auditors to perform internal       Effective February 5, 2001.
                          audit functions.  Banks with less than $200 million in assets
                          are exempt.

FDIC, FRB, OCC, OTS       Rule regarding consumer protection requirements and              Effective April 1, 2001.
                          disclosures for depository institution sale of
                          insurance products.

FRB, FDIC, OCC, OTS       Rule regarding disclosure of certain agreements made to fulfill  Effective April 1, 2001.
                          Community Reinvestment Act requirements ("CRA Sunshine")
</Table>

                                       29
<Page>

<Table>
<Caption>
        AGENCY                                      FINAL ACTIONS                                       STATUS
-----------------------   ---------------------------------------------------------------  -------------------------------------
<S>                       <C>                                                              <C>
FDIC, FRB, OCC, OTS       Revised regulatory capital standards                             Effective January 1, 2002.
                          regarding the treatment of certain recourse obligations,
                          direct credit substitutes, residual interest in assets
                          securitizations, and other securitized transactions
                          that expose financial institutions primarily to credit
                          risk.

FRB, FDIC, OCC, OTS       Revised legislation regarding privacy, privacy notices,          Effective July 1, 2001.
                          disclosure of customer information, and marketing arrangements.

FRB, FDIC, OCC, OTS       Revised suspicious activity reports, safe harbor laws, and       Effective October 26, 2001.
                          governmental access to financial records.
</Table>

     PROPOSED FEDERAL LEGISLATION. The proposed deposit insurance overhaul is
know as The Federal Deposit Insurance Reform Act of 2002, which is intended to
give consumers increased flexibility and confidence with their deposits in
federally insured financial institutions.

                              Provisions of the Act

     The legislation would require the Federal Deposit Insurance Corp. to merge
its two funds, the Bank Insurance Fund and the Savings Association Insurance
Fund, within 90 days of enactment of the bill. While both FDIC funds provide the
same deposit insurance coverage, there has been concern within the financial
services industry that, because banks are likely to encounter more difficulty
than thrifts in the coming months, banks will pay a greater amount in FDIC
premiums than thrifts for coverage.

     The deposit insurance coverage limit to a depositor at an insured
depository institution, including credit unions, would be increased from
$100,000 to $130,000. The limit has not been increased since 1980. IRAs, Keogh,
40l(k) and other retirement plans recognized in the Internal Revenue Code would
receive two times the current amount of coverage under the new deposit insurance
coverage limit.

     Beginning in 2010, and every decade thereafter, the new deposit insurance
limit would be adjusted for inflation based on the consumer price index.
Adjustments would be rounded down to and occur in $10,000 increments.

     The bill would require the FDIC to increase coverage for municipal
accounts. Under current law, municipal accounts are subject to the $100,000
limit. The legislation would provide that in-state municipal deposits at insured
depository institutions would be insured in an aggregate amount not to exceed
the total equity capital of the institution.

     "Free" deposit insurance would be repealed by the legislation, eliminating
restrictions on the FDIC that prevent the agency from charging premiums for
deposit insurance coverage for 92 percent of the industry. The current fixed
designated reserve ratio of 1.25 percent would be replaced with a range of
between 1.00 and 1.50 percent. The FDIC would be required to designate the
target reserve ratio before the beginning of any calendar year and to provide
for a public notification and comment period prior to any final designation.

                                       30
<Page>

                            Study of FDIC Operations

       Under the provisions of the legislation, a number of studies would be
required within one year of enactment, including studies on:

-    the FDIC's organizational and management structure and control of expenses;

-    the effectiveness of prompt corrective action since its inception; and

-    the FDIC's reserve practices for problematic and failed depository
     institutions during the period of 1995-2002.

     Finally, within a year of enactment of the legislation, the FDIC would be
required to conduct a feasibility study to determine the benefits and adverse
consequences of establishing a voluntary deposit insurance system for deposits
in excess of the maximum amount of deposit insurance for any depositor. The
consequences of privatizing all deposit insurance at insured depository
institutions and insured credit unions also would be studied.

                                       31
<Page>

FEDERAL AND STATE TAXATION

     FEDERAL TAXATION. Prior to the enactment of recent legislation (discussed
below), thrift associations such as the Bank that met certain definitional tests
relating to the composition of assets and other conditions prescribed by the
Internal Revenue Code of 1986, as amended (the "Code"), had been permitted to
establish reserves for bad debts and to make annual additions thereto which
could, within specified formula limits, be taken as a deduction in computing
taxable income for federal income tax purposes. The amount of the bad debt
reserve deduction for "non-qualifying loans" was computed under the experience
method. The amount of the bad debt reserve deduction for "qualifying real
property loans" (generally loans secured by improved real estate) is computed
under the experience method.

     In August 1996, legislation was enacted that repeals the percentage of
taxable income method of accounting used by many thrifts to calculate their bad
debt reserve for federal income tax purposes. As a result, small thrifts were
required to recapture that portion of the reserve that exceeds the amount that
could have been taken under the experience method for post-1987 tax years. The
legislation also requires thrifts to account for bad debts for federal income
tax purposes on the same basis as commercial banks for tax years beginning after
December 31, 1995. The recapture was to occur over a six-year period, the
commencement of which was delayed until the first taxable year beginning after
December 31, 1998, provided the institution meets certain residential lending
requirements. The legislation did not have a material impact on the Bank.

     In addition to regular income tax, corporations, including thrift
institutions such as the Bank, generally are subject to a minimum tax. An
alternative minimum tax ("AMT") is imposed at a minimum tax rate of 20% on
alternative minimum taxable income, which is the sum of a corporation's regular
taxable income (with certain adjustments) and tax preference items, less any
available exemption. The AMT is imposed to the extent it exceeds the
corporation's regular income tax and net operating losses can offset no more
than 90% of alternative minimum taxable income. For taxable years beginning
after 1986 and before 1996, corporations, including thrift associations such as
the Bank, are also subject to an environmental tax equal to 0.12% of the excess
of AMT income for the taxable year (determined without regard to net operating
losses and the deduction for the environmental tax) over $2 million.

     To the extent earnings appropriated to a thrift institution's bad debt
reserves for "qualifying real property loans" and deducted for federal income
tax purposes exceed the allowable amount of such reserves computed under the
experience method and to the extent of the thrift's supplemental reserves for
losses on loans ("Excess"), such Excess may not, without adverse tax
consequences, be utilized for the payment of cash dividends or other
distributions to a stockholder (including distributions on redemption,
dissolution or liquidation) or for any other purpose (except to absorb bad debt
losses). As of December 31, 2001, the Bank had no Excess. Under present law
should the Bank cease to be a thrift institution, the Company would be required
to recapture the Bank's bad debt reserves in its Excess.

     As of December 31, 2001, the Company had a net deferred tax asset of
$972,607 and a valuation allowance of $1,009,010 which was primarily related to
state net operating loss carry forwards and AMT credit carry forwards. As of
December 31, 2001, the total state net operating loss was $21,119,266, may not
be carried back and will expire in 2005. The AMT credit carry forward was
approximately $120,000 and will carry forward indefinitely. Based on the
Company's historical taxable transactions, the timing of the reversal of
existing temporary differences, and the evaluation of tax planning strategies,
management believes it is more likely than not that the Company's future taxable
income will be sufficient to realize the benefit of the remaining deferred tax
assets at December 31, 2001.

     Section 382 of the Internal Revenue Code ("Code") provides that the
aforementioned tax NOL carryforwards would be subjected to an annual limitation
should there be a change of over 50% in the stock ownership of the Company
during any three year testing period. Due to the fact that the Company has a tax
NOL carryforward, it is required to report changes in ownership of 5% or greater
of stockholders annually to the Internal Revenue Service ("IRS"). The statute
and applicable Treasury regulations are extremely complex. The Company believes
that no change of ownership as defined in applicable Section 382 regulations
occurred through

                                       32
<Page>

the three-year testing period ended December 31, 2001. However, if such a change
in ownership occurs, the annual use of the tax NOL carryforwards would be
subject to an annual limitation.

     The Company files consolidated federal income tax returns with the Bank and
its subsidiary on a fiscal year basis using the accrual method of accounting.
The Bank's federal income tax returns have not been examined by the Internal
Revenue Service since 1990. With respect to years examined by the IRS, either
all deficiencies have been satisfied or sufficient reserves have been
established to satisfy asserted deficiencies. In the opinion of management, any
examination of still open returns (including returns of subsidiaries and
predecessors of, or entities merged into, the Bank) would not result in a
deficiency which could have a material adverse effect on the financial condition
or results of operations of the Company and its consolidated subsidiary.

     STATE TAXATION. As a Delaware holding company, the Company is exempted from
Delaware corporate income tax but is required to file an annual report with and
pay an annual fee to the State of Delaware. The Bank is also subject to an
annual franchise tax imposed by the State of Delaware.

     The State of New Mexico has a corporate tax which subjects the Bank's New
Mexico taxable income to tax rates ranging from 4.8% to 7.65%. New Mexico
taxable income is computed by applying certain modifications to federal taxable
income. The principal difference between state and federal taxable income is
that interest earned on U.S. government obligations is not taxable for state
purposes.

     The Bank's income tax returns have not been audited by state authorities
during the past five years.

COMPETITION

     The Bank's primary service area, which presently represents the principal
operating activities of the Company, includes the New Mexico counties of
Bernalillo, Cibola, Curry, De Baca, Los Alamos, McKinley, Roosevelt, Sandoval,
Santa Fe, Torrance, Valencia, and the Texas counties of Parmer and Bailey. The
Bank attracts all of its deposits and loans through its branch offices,
primarily from the communities in which those branch offices are located;
therefore, competition for those deposits is principally from other thrift
institutions and commercial banks located in the same communities as well as
brokerage firms and insurance companies.

EMPLOYEES

     As of December 31, 2001, the Company and the Bank had 56 full-time and 9
peak-time employees. Such employees are not represented by any collective
bargaining group. Management considers its employee relations to be good.

                                       33
<Page>

ITEM 2. DESCRIPTION OF PROPERTY

     The following table sets forth information relating to each of the
Company's current offices. Net book value and total investment figures are for
land, building, furniture and fixtures.

<Table>
<Caption>
                                                                        Net book value at              Branch deposits at
                 Location                      Date acquired          December 31, 2001(1)            December 31, 2001
--------------------------------------------  -----------------   -------------------------------  ---------------------------
<S>                                                 <C>                    <C>                           <C>
MAIN OFFICE:
801 Pile Street                                     1966                   $  1,013,611                  $  64,022,983
Clovis, New Mexico

BRANCH OFFICES:
Prince and Parkland Streets                         1978                        320,836                     13,638,535
Clovis, New Mexico

400 West First Street                               1982                        552,385                     26,005,086
Portales, New Mexico

101 West Hill Street                                1999(2)                     491,667(2)                  14,912,339
Gallup, New Mexico

5210 Eubank N.E.                                    2000                      1,321,830                     28,341,055
Albuquerque, New Mexico
</Table>

(1)  The book value of the Company's investment in land, premises and equipment,
     less accumulated depreciation, totaled $3,700,329 at December 31, 2001.

(2)  The office building and land were under an operating lease in 1999 and
     2000, but were purchased by the Company in 2001.

ITEM 3. LEGAL PROCEEDINGS

     The Company and its subsidiary are from time to time parties to various
legal actions arising in the normal course of business. Management believes that
there is no proceeding threatened or pending against the Company or its
subsidiary which, if determined adversely, would have a material adverse effect
on the consolidated financial condition or results of operations of the Company.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

     Not applicable

                                       34
<Page>

                                     PART II

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

     The Common Stock of the Bank was traded in the over-the-counter market on
the NASDAQ Small Cap Market under the symbol "FSBC" prior to October 21, 1996,
and the Common Stock of the Company has been traded in the over-the-counter
market on the NASDAQ Small Cap Market under the symbol "AABC" since October 21,
1996. As of March 1, 2002, the Company had 1,460,595 shares of common stock
outstanding and 372 holders of record.

     The following table sets forth the high and low sales prices of the Common
Stock of the Company as quoted on the NASDAQ Small Cap Market.

<Table>
<Caption>
                                                       Price range
                                       ------------------------------------------
                                                                         Cash
                                                                    Dividends per
                                            High           Low          share
                                       -------------  ------------  -------------
<S>                                    <C>            <C>                 <C>
2000
    First Quarter                      $    8.00      $    5.50           --
    Second Quarter                     $    6.75      $    5.50           --
    Third Quarter                      $    6.50      $    6.00           --
    Fourth Quarter                     $    6.50      $    6.00           --

2001
    First Quarter                      $    6.88      $    6.00           --
    Second Quarter                     $    7.30      $    5.97           --
    Third Quarter                      $    9.40      $    6.50           --
    Fourth Quarter                     $    8.20      $    7.00           --
</Table>

     For a foreseeable period of time, the principal source of cash revenues to
the Company will be dividends paid by the Bank. There are certain statutory and
regulatory limitations on the payment of such dividends (and other capital
distributions) including OTS regulatory capital requirements. In some cases, the
OTS may prohibit a dividend payment that meets these requirements on the basis
that such a distribution would be an unsafe or unsound practice. Furthermore,
the Bank may not pay a dividend if it will cause the institution to become
"undercapitalized."

     The Bank is required to give the OTS thirty days prior notice of the
proposed declaration by its directors of any dividend. Any such dividend
declared within the thirty-day period or without giving such notice shall be
invalid and shall confer no rights or benefits on the Company as the sole
stockholder of the Bank.

     Under the Federal Deposit Insurance Act, an insured bank is prohibited from
paying dividends on its capital stock while in default in the payment of any
assessment due to the FDIC except in those cases where the amount of the
assessment is in dispute and the insured bank has deposited satisfactory
security. The Bank is not in default in the payment of any such assessment.

     The Bank paid dividends to the Company of $608,000 and $0 in the years
ended December 31, 2001 and 2000, respectively.

                                       35
<Page>

ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

SELECTED CONSOLIDATED FINANCIAL HIGHLIGHTS

     The Company became the unitary thrift holding company for the Bank as a
result of the consummation of an Agreement and Plan of Reorganization and
related Plan of Merger on October 21, 1996 (the "Merger"). The Company did not
have any material assets prior to the Merger. Following the Merger, the
Company's consolidated statement of financial condition and statement of
operations are not materially different from the Bank's statement of financial
condition and statement of operations. The Company is the successor registrant
to the Bank under the Securities Act of 1933 and the Securities Exchange Act of
1934. The following selected consolidated operating and financial condition data
for the Company as of and for each of the five fiscal years ended December 31,
2001 and has been derived from and should be read in conjunction with the
audited consolidated financial statements of the Company. The following summary
financial information is qualified in its entirety by and should be read in
conjunction with the detailed information and consolidated financial statements
of the Company, including the notes thereto, which information as of December
31, 2001 and 2000 and for each of the three years in the period ended December
31, 2001, is included in this Form 10-KSB.

<Table>
<Caption>
                                                                     For the years ended December 31
                                              -------------------------------------------------------------------------------
SELECTED CONSOLIDATED OPERATING DATA:             2001            2000            1999             1998            1997
                                              --------------  --------------  --------------   --------------  --------------
                                                               (Dollars In Thousands Except Per Share Data)
<S>                                           <C>             <C>             <C>              <C>             <C>
Statement of operations data:
    Interest income                           $     12,053    $     10,701    $      8,887     $      8,010    $      7,250
    Interest expense                                 6,280           5,748           4,794            4,523           4,149
                                              --------------  --------------  --------------   --------------  --------------
    Net interest income before provision
      for loan losses                                5,773           4,953           4,093            3,487           3,101
    Provision for loan losses                          449             199             324              238             118
                                              --------------  --------------  --------------   --------------  --------------
Net interest income after provision for
  loan losses                                        5,324           4,754           3,769            3,249           2,983
    Net gain on mortgage loans
      held-for-sale                                    417             251             297              223             149
    Net gain on sale of securities                      --              --             739               --              21
    Real estate operations, net                         (6)            (28)            (35)              10              (3)
    Other income, net                                1,249           1,011             765            1,545             697
    Other expenses                                  (5,535)         (5,367)         (4,379)          (3,921)         (3,463)
                                              --------------  --------------  --------------   --------------  --------------
Income before income taxes                           1,449             621           1,156            1,106             384
    Income tax expense (benefit)                        70             211            (242)             346          (1,212)
                                              --------------  --------------  --------------   --------------  --------------

Net income                                    $      1,379    $        410    $      1,398     $        760    $      1,596
                                              ==============  ==============  ==============   ==============  ==============

Per share data:
    Earnings per common share-basic           $       1.05    $        .33    $       1.13     $       0.62    $       1.40
                                              ==============  ==============  ==============   ==============  ==============
    Earnings per common share-assuming
      dilution                                $       1.02    $        .32    $       1.10     $       0.59    $       1.37
                                              ==============  ==============  ==============   ==============  ==============
</Table>

                                       36
<Page>

<Table>
<Caption>
                                                                               December 31
                                              -------------------------------------------------------------------------------
SELECTED CONSOLIDATED FINANCIAL CONDITION
  DATA:                                           2001            2000            1999             1998            1997
                                              --------------  --------------  --------------   --------------  --------------
                                                                          (Dollars In Thousands)
<S>                                           <C>             <C>             <C>              <C>             <C>
Loans receivable, net                         $    141,484    $    119,479    $    104,177     $     88,809    $     58,172
Loans held-for-sale                                  1,035             821             184              855             298
Securities held-to-maturity                          1,611           6,091           6,857            7,528          18,947
Securities available-for-sale                       10,447           7,639           9,120           11,426          15,032
Real estate owned, net                                 606             154             188              166              76
Total assets                                       175,606         154,345         141,808          121,768         107,213
Deposits                                           146,920         137,276         122,480          105,045          97,412
Federal Home Loan Bank advances                      8,750           2,750           7,250            5,750              --
Net unrealized appreciation (depreciation)
   on available-for-sale securities, net                79             (45)            (73)             (41)             (3)
   Stockholders' equity                             13,502          11,736          11,313            9,925           9,145

<Caption>
SELECTED FINANCIAL RATIOS AND OTHER DATA:
                                                  2001            2000            1999             1998            1997
                                              --------------  --------------  --------------   --------------  --------------
<S>                                               <C>             <C>             <C>              <C>             <C>
PERFORMANCE RATIOS:
    Return on assets (ratio of net income
      to average total assets)                      0.84%           0.28%           1.06%            0.66%           1.49%
    Interest rate spread information:
      Average during period                         3.63            3.56            3.17             3.02            2.91
      End of period                                 4.05            3.46            3.55             3.04            3.01
    Net interest margin (1)                         3.72            3.67            3.33             3.20            3.08
    Ratio of operating expense to average
      total assets                                  3.36            3.64            3.35             3.42            3.24
    Return on equity (ratio of net income
      to average equity)                           10.93            3.56           13.17             7.97           22.43

QUALITY RATIOS:
    Non-performing assets to total assets
      at end of year                                1.15%           0.28%           0.22%            0.42%           0.08%
    Allowance for loan losses to
      non-performing assets                        37.02          157.03          276.84           116.62          634.94
    Allowance for loan losses to total
      loans                                         0.53            0.57            0.83             0.68            0.91

CAPITAL RATIOS:
    Equity to total assets at the end of
      year                                          7.69%           7.60%           7.98%            8.15%           8.53%
    Average equity to average assets                7.65            7.78            8.06             8.33            6.65
    Ratio of average interest-earning
      assets to average interest-bearing
      liabilities                                 102.31          102.52          104.25           112.47          103.86

Number of full service facilities                      5               5               4                3               3
</Table>

(1)  Net interest income divided by average interest earning assets

                                       37
<Page>

GENERAL

     The Company is a Delaware corporation which was organized in 1996 for the
purpose of becoming the thrift holding company of the Bank. The Bank is a
federally chartered stock savings bank conducting business from five banking
locations in Clovis, Albuquerque, Gallup, and Portales, New Mexico. The Bank has
a wholly-owned subsidiary, FEDCO, which is currently inactive.

     The Bank is principally engaged in the business of attracting retail
deposits from the general public and investing those funds in first mortgage
loans in owner occupied, single-family residential loans and mortgage-backed
securities. To a lesser extent, the Bank originates residential construction
loans and commercial real estate loans. The Bank also originates consumer loans,
including loans for the purchase of automobiles and home improvement loans, and
commercial loans including SBA loans.

     The most significant outside factors influencing the operations of the Bank
and other financial institutions include general economic conditions,
competition in the local market place and the related monetary and fiscal
policies of agencies that regulate financial institutions. More specifically,
the cost of funds, primarily consisting of deposits, is influenced by interest
rates on competing investments and general market rates of interest. Lending
activities are influenced by the demand for real estate financing and other
types of loans, which in turn is affected by the interest rates at which such
loans may be offered and other factors affecting loan demand and funds
availability.

     In order to continue to meet the financial services needs of the
communities it serves, the Bank intends to continue to grow in a reasonable,
prudent manner which may include expansion of the existing branch network. As a
part of this intended growth, the Bank has increased the portfolio allocation of
single-family lending, consumer lending and commercial lending. Certain
improvements have been completed and should assist in the expansion of the
Bank's core deposit base.

     Growth of the Bank may be financed by either increasing the deposit
portfolio or from borrowed funds. The use of borrowed funds to purchase short
duration, mortgage-backed securities or single family mortgage loans may be
considered to add to the Bank's portfolio.

     The Company's strategic plan will continue to be reviewed quarterly for
progress by the Board of Directors. The Board will modify the plan as deemed
appropriate to reflect the operational environment of the Bank.

     The Bank originated a high volume of single-family mortgage loans during
2001. The Bank was able to increase its loans receivable during 2000 and 2001,
but as the prime rate decreased in 2001 the Bank also increased the sale of
mortgage loans.

     Prepayment tendencies on loans and mortgage-backed securities may vary from
historical experience and depositors' preference for various deposit products
and maturities may also vary. The Bank's favorable liquidity position allows
some flexibility in adjusting to cash flow requirements brought on by interest
rate changes. The Bank's one-year interest-rate sensitivity gap was a negative
7.02% of total assets as December 31, 2001. A negative gap indicates there are
more interest-bearing liabilities repricing during a stated period than
interest-earnings assets.

     At December 31, 2001, the Bank had unrealized gains in its mortgage-backed
securities portfolio which are being held-to-maturity. The Bank has both the
intent and ability to hold these securities until maturity. In addition,
management believes the Bank will be able to collect all amounts due according
to the contractual terms of the debt securities and is not aware of any
information that would indicate the inability of any issuer of such securities
to make contractual payments in a timely manner. As such the Bank believes that
these unrealized gains will not ultimately be realized.

     All of the Bank's mortgage-backed securities are agency securities and are
either guaranteed by the full faith and credit of the United States Government
(GNMA) or are insured by a government sponsored enterprise (FNMA and FHLMC).
None of these securities are considered "high risk" as defined by the OTS and
none have

                                       38
<Page>

failed to pass the FFIEC mandatory test for "high risk" securities. The Bank
does not invest in such "high risk" securities.

      Management of the investment portfolio is not designed to be the primary
source of funds for the Company's operations. Rather, it is viewed as a use of
funds generated by the Company to be invested in interest-earning assets to be
held-to-maturity or available-for-sale. Cash flow mismatches between sources and
uses of funds should not require any of the securities to be liquidated. While
cash flows from the securities vary depending on the prepayment speeds
associated with each particular security, the variance in the prepayment speeds
does not impact the over-all cash flow needs of the Bank since the Bank has the
ability to borrow funds from the FHLB of Dallas. See LIQUIDITY AND CAPITAL
RESOURCES in this Form 10-KSB.

REGULATORY MATTERS

     Under the CRA, every FDIC insured institution has a continuing and
affirmative obligation consistent with safe and sound banking practices to help
meet the credit needs of its entire community, including low and moderate-income
neighborhoods. The most recent CRA examination as of June 28, 1999 classified
the Bank as satisfactory.

                                       39
<Page>

RESULTS OF OPERATIONS

     The Company's operating results are impacted by many factors, the most
important factor being the interest spread between the yield on loans and
investments and the cost of funds. The following table presents operating
results for the Company. The table presents for the periods indicated the total
dollar amount of interest income from average interest-earning assets and the
resultant yields, as well as the interest expense on average interest-bearing
liabilities, expressed both in dollars and rates. No tax equivalent adjustments
were made and all average balances are monthly average balances. Non-accruing
loans have been included in the table as loans carrying a zero yield.

<Table>
<Caption>
                                                                 Years ended December 31,
                                                                  (Dollars In Thousands)
                               ----------------------------------------------------------------------------------------------
                                           2001                            2000                            1999
                               ------------------------------  ------------------------------ -------------------------------
                                 Average   Interest             Average   Interest              Average   Interest
                               outstanding  earned/   Yield/  outstanding  earned/   Yield/   outstanding  earned/   Yield/
                                balance      paid      rate     balance     paid      rate      balance     paid      rate
                               ----------  --------  -------- ----------- --------- --------- ----------- --------- ---------
<S>                            <C>         <C>         <C>     <C>        <C>         <C>     <C>         <C>         <C>
Interest-earning assets:
  Loans receivable (1)         $  133,541  $ 10,775    8.07%   $  113,463 $  9,193    8.10%   $   99,178  $  7,593    7.66%
  Mortgage-backed securities       10,783       681    6.31        13,674      849    6.21        16,309       900    5.52
Investment securities               3,293       208    6.32         3,394      243    7.15         1,234        74    5.98
Other interest-earning assets       7,593       389    5.11         6,772      416    6.14         6,241       320    5.13
                               ----------  --------  --------  ---------- --------- --------- ----------- --------- ---------

    Total interest-earning
      assets (1)               $  155,210  $ 12,053    7.77%   $  137,303 $ 10,701    7.79%   $  122,962  $  8,887    7.23%
                               ==========  ========  ========  ========== ========= ========= =========== ========= =========

Interest-bearing liabilities:
  Deposits                     $  142,732  $  5,734    4.02%   $  125,636 $  5,155    4.10%   $  109,286  $  4,328    3.96%
  Federal Home Loan Bank
    advances                        5,840       265    4.54         8,294      508    6.12         8,661       466    5.38
Other borrowings                    3,128       281    8.99           895       85    9.61            --        --      --
                               ----------  --------  --------  ---------- --------- --------- ----------- --------- ---------

    Total interest-bearing
      liabilities              $  151,700  $  6,280    4.14%   $  134,825 $  5,748    4.26%   $  117,947  $  4,794    4.06%
                               ==========  ========  ========  ========== ========= ========= =========== ========= =========

Net interest income                        $  5,773                       $  4,953                        $  4,093
                                           ========                       =========                       =========
Net interest rate spread                               3.63%                          3.53%                           3.17%
                                                     ========                       =========                       =========
Net interest-earning assets    $    3,510                      $    2,478                     $    5,015
                               ==========                      ==========                     ===========
Net yield on average
   interest-earning assets                             3.72%                          3.61%                           3.33%
                                                     ========                       =========                       =========
Average interest-earning
   assets to average
   interest-bearing
   liabilities                               102.31%                        101.84%                         104.25%
                                           =========                      =========                       =========
</Table>

(1)  Calculated net of loans in process

                                       40
<Page>

     The following table presents the dollar amount of changes in interest
income and interest expense for major components of interest-earning assets and
interest-bearing liabilities and distinguishes between the increase related to
higher or lower outstanding balances and the volatility of interest rates. For
each category of interest-earning assets and interest-bearing liabilities,
information is provided on changes attributable to (i) changes in volume (i.e.,
changes in volume multiplied by old rate) and (ii) changes in rate (i.e.,
changes in rate multiplied by old volume). For purposes of this table, changes
attributable to both rate and volume, which cannot be segregated, have been
presented separately.

<Table>
<Caption>
                                                                  Years ended December 31
                              ------------------------------------------------------------------------------------------------
                                               2001 vs 2000                                     2000 vs 1999
                              -----------------------------------------------  -----------------------------------------------
                                        Increase (decrease) due to                       Increase (decrease) due to
                              -----------------------------------------------  -----------------------------------------------
                                                        Rate/                                            Rate/
                               Volume       Rate        volume      Total       Volume        Rate       volume       Total
                              ----------  ----------  ----------- -----------  ----------  ----------- -----------  ----------

                                                                  (Dollars In Thousands)
<S>                           <C>         <C>         <C>         <C>          <C>         <C>         <C>          <C>
Interest-earning assets:
  Loan portfolio              $    1,626  $      (34) $      (10) $    1,582   $    1,094  $      436  $       70   $    1,600
  Mortgage-backed securities        (180)         14          (2)       (168)        (145)        113         (19)         (51)
  Investments                         (7)        (28)          0         (35)         129          14          26          169
  Other interest earning
    assets                            50         (70)         (7)        (27)          27          63           6           96
                              ----------  ----------  ----------- -----------  ----------  ----------- -----------  ----------

Total interest-earning
  assets                      $    1,489  $     (118) $      (19) $    1,352   $    1,105  $      626  $       83   $    1,814
                              ==========  ==========  =========== ===========  ==========  =========== ===========  ==========

Interest-bearing
  liabilities:
  Deposits                    $      701  $     (101) $      (21) $      579   $      647  $      153  $       27   $      827
  Federal Home Loan Bank
   advances                         (150)       (131)         38        (243)         (20)         64          (2)          42
  Other borrowings                   215          (6)        (13)        196           85           0           0           85
                              ----------  ----------  ----------- -----------  ----------  ----------- -----------  ----------

Total interest-bearing
  liabilities                 $      766  $     (238) $        4  $      532   $      712  $      217  $       25   $      954
                              ==========  ==========  =========== ===========  ==========  =========== ===========  ==========

Change in  net interest
  income                      $      723  $      120  $      (23) $      820   $      393  $      409  $       58   $      860
                              ==========  ==========  =========== ===========  ==========  =========== ===========  ==========
</Table>

                                       41
<Page>

COMPARISON OF YEARS ENDED DECEMBER 31, 2001 AND 2000

     Net income for the year ended December 31, 2001 was $1,379,000 or $1.05 per
share compared to $410,000 or $.33 for the year ended December 31, 2000, the
increase was $969,000 or 235.98% for the year.

     NET INTEREST INCOME. Net interest income before provision for loan losses
increased by 16.56% or $5,773,000 in 2001, compared to $4,953,000 in 2000. The
increase in 2001 was due to an increase in loans receivable, which increased
interest income on loans receivable by $1,582,000 or 17.20%.

     PROVISION FOR LOAN LOSSES. The level of the allowance for loan losses is
based on such factors as the amount of non-performing assets, historical loss
experience, regulatory policies, general economic conditions, the estimated fair
value of the underlying collateral and other factors which may affect the
collectibility of the loans. During 2001, the provision for loan losses
increased to $449,000 from $199,000 in 2000, primarily due to the increase in
loans receivable and non-performing assets during 2001.

     NONINTEREST INCOME. Noninterest income was $1,666,000 in 2001 compared to
$1,262,000 in 2000. During 2001, gains on sales of loans increased $166,000 and
loans servicing and other fees increased $98,000 reflecting the increase in
loans originated in 2001.

     NONINTEREST EXPENSE. Noninterest expense was $5,541,000 in 2001 compared to
$5,393,000 in 2000. The increase was primarily due to an $137,000 increase in
salaries and employee benefits.

     PROVISION FOR INCOME TAXES. In addition to the improvements in the net
interest income, noninterest income and expense controls and after performing a
detailed analysis of the Company's current income tax position, and strong
fourth quarter results, the Company reversed certain deferred tax allowances
previously recorded in accordance with SFAS 109. These allowances related to
state income tax net operating loss carryforwards and alternative minimum tax
(AMT) credit carryforwards. The effect of this change in estimates was an
increase in net income of approximately $420,000 (tax benefit). The net income
tax expense of $69,000 in 2001 was a decrease of $142,000 from the $211,000
expense in 2000.

COMPARISON OF YEARS ENDED DECEMBER 31, 2000 AND 1999

     Net income for the year ended was $410,000 or $.33 per share compared to
net income of $1,398,000 or $1.13 per share for 1999. The $988,000 decrease in
earnings was primarily due to a $539,000 decrease in noninterest income and a
$453,000 increase in tax expense.

     NET INTEREST INCOME. Net interest income before provision for loan losses
increased by 21.01% to $4,953,000 in 2000, compared to $4,093,000 in 1999. The
increase in 2000 was due to an increase in loan volume and increasing the rate
received on interest-earning assets.

     PROVISION FOR LOAN LOSSES. The level of the allowance for loan losses is
based on such factors as the amount of non-performing assets, historical loss
experience, regulatory policies, general economic conditions, the estimated fair
value of the underlying collateral and other factors which may affect the
collectibility of the loans. During 2000, the provision for loan losses
decreased to $199,000 from $324,000 in 1999 due to the condition of the assets.

     NONINTEREST INCOME. Noninterest income was $1,262,000 in 2000 compared to
$1,801,000 in 1999. During 1999, a long-term capital gain on the sale of
securities of $739,000 increased noninterest income.

     NONINTEREST EXPENSE. Noninterest expense increased by $979,000 or 22.18% to
$5,393,000 in 2000 compared to $4,414,000 in 1999. Salaries and employee
benefits increased by $534,000, occupancy expense

                                       42
<Page>

increased $218,000, and amortization of goodwill increased by $121,000. These
increases were primarily due to the opening of a new branch in 2000 and
acquiring two branches in the last quarter of 1999.

     PROVISION FOR INCOME TAXES. The net income tax expense of $211,000 in 2000
as compared to the benefit of $242,000 in 1999, was primarily due to a reduction
in 1999 of the deferred tax asset valuation allowance of approximately $635,000.
To the extent the valuation allowance was reduced, the related tax benefit was
credited to income in 1999.

ASSET/LIABILITY MANAGEMENT AND INTEREST RATE SENSITIVITY

     The Bank attempts to maximize net interest income by achieving a positive
interest rate spread that can be sustained during fluctuations in prevailing
interest rates. Management monitors the mix of earning assets on a continuous
basis in order to react to fluctuating interest rate environments.

     Risk-based capital guidelines and the corresponding asset risk weighting
have resulted in an incentive to invest in mortgage-backed and U.S. agency
securities, particularly those issued by government sponsored entities such as
FNMA, GNMA, and FHLMC. In addition, the favorable risk weighting assigned to
residential loans provided the incentive to invest in these assets. This asset
mix has always been the basis on which the Bank has focused.

     The Bank assumes a high level of interest rate risk as a result of its
policy to originate fixed-rate single family home loans. These loans generally
have longer terms than the short term characteristics and liabilities of
customer accounts and borrowed money. Rates increased in 1999 and 2000, but
decreased in 2001. As the increase in prepayment and loan refinancing of
mortgage loans and mortgage-backed securities has occurred, the proceeds have
been channeled to new single family home loans, consumer loans, and commercial
loans with a resulting increase in interest income and gains on sales of loans.

     Interest rate sensitivity is the rate at which the Bank's assets and
liabilities are subject to repricing at future time periods. Management seeks to
effectively manage interest rate sensitivity to insure that net interest income
is maximized while the impact of change on market interest rates is minimized.
It is the objective of the Bank to reduce the sensitivity of its earnings to
fluctuating interest rates by diversifying the sources of funds, improving its
interest rate spread, and improving the ratio of earning assets to interest
bearing liabilities. Also, the Bank needs to maintain a match of maturities and
interest rate sensitivity of its assets and liabilities.

     The differences between the volume of assets and liabilities in the Bank's
current portfolio, which are subject to repricing in future time periods, are
known as interest rate sensitivity gaps. Certain estimates and assumptions are
included in the data in the table below which sets forth the interest rate
sensitivity analysis at December 31, 2001.

     The following table sets forth the assumed repricing and maturity periods
of the Bank's interest-earning assets and interest-bearing liabilities at
December 31, 2001 and the interest rate sensitivity gap percentages at the dates
indicated. The interest rate sensitivity gap is defined as the amount by which
assets repricing within the respective periods exceed liabilities repricing
within such periods. The effect of these assumptions is to quantify the dollar
amount of items that are interest-rate sensitive and can be repriced within each
of the periods specified. Such repricing can occur in one of three ways: (1) the
rate of interest to be paid on an asset or liability may adjust periodically on
the basis of an index; (2) an asset or liability such as a mortgage loan may
amortize, permitting reinvestment of cash flows at the then-prevailing interest
rates; or (3) an asset or liability may mature, at which time the proceeds can
be reinvested at current market rates.

                                       43
<Page>

<Table>
<Caption>
                                                                    Maturing or Repricing Amount
                                        -------------------------------------------------------------------------------------
                                        Within one  Over 1 to 3  Over 3 to 5 Over 5 to 10 Over 10 to   Over 20
                                           year        years        years       years      20 years       years       Total
                                        ----------- -----------  ----------- -----------  -----------  ----------  -----------

                                                                        (Dollars In Thousands)
<S>                                     <C>         <C>          <C>         <C>          <C>          <C>         <C>
Total Rate Sensitive Assets:
  Mortgages:
   Adjustable-rate (1)                  $  12,127   $   1,307    $     148   $      --    $      --    $      --   $  13,582
   Fixed-rate (2)                          12,518      21,797       13,945      14,903        3,998          281      67,442
   Construction(6)                          1,973          --           --          --           --           --       1,973
   Non-residential adjustable (2)          16,673       2,638        1,589          --           --            -      20,900
   Non-residential fixed                    3,069       1,967          986       1,670        1,554          139       9,385
  Non-Mortgages:
   Consumer and Commercial adjustable       5,902          32           --          --           --           --       5,934
   Consumer and Commercial fixed            7,730       8,841        4,290       1,804        1,049           --      23,714
    (2)(6)
  Investments:
   Investment securities (3)                1,516         297           --          --           --          675       2,488
   Mortgage-backed (1)(2)                   6,553         937          736       1,129          793          133      10,281
   Funds sold (3)                           6,242          --           --          --           --           --       6,242
                                        ----------- -----------  ----------  -----------  -----------  ----------  -----------

TOTAL                                   $  74,303   $  37,816    $  21,694   $  19,506    $   7,394    $   1,228   $ 161,941
                                        =========== ===========  ==========  ===========  ===========  ==========  ===========

Total Rate Sensitive Liabilities:
  Deposits:
   Certificates of deposit (3)          $  64,119   $  18,649    $   1,105   $      --    $      --    $      --   $  83,873
   IRAs                                     7,050       3,239          858          --           --           --      11,147
   Money market (4)                         4,606       4,878        4,155      13,549           --            -      27,097
   NOW accounts (4)                           809       1,887        1,977       4,314           --           --       8,987
   Savings accounts (4)                     1,951       1,013          879       1,892           --           --       5,735
 Advances                                   8,000         750           --          --           --           --       8,750
                                        ----------- -----------  ----------  -----------  -----------  ----------  -----------

TOTAL                                   $  86,535   $  30,325    $   8,974   $  19,755    $      --    $      --   $ 145,589
                                        =========== ===========  ==========  ===========  ===========  ==========  ===========

December 31, 2001
Cumulative interest rate sensitivity
gap (5)                                 $ (12,232)  $  (4,741)   $   7,979   $   7,730    $  15,124    $  16,352
Cumulative interest rate sensitivity
  gap (5) as a percent of total
  assets                                    (7.02)%     (2.72)%       4.58%       4.43%        8.67%        9.38%
December 31, 2000

Cumulative interest rate sensitivity
  gap (5) as a percent of  total
  assets                                    (9.62)%     (1.76)%       4.57%       4.56%        8.32%        8.76%
December 31, 1999

Cumulative interest rate sensitivity
  gap (5) as a percent of total
  assets                                    (9.29)%     (5.62)%      (2.61)%    (2.18)%        4.93%        6.01%
</Table>

(1)  MOST ADJUSTABLE RATE ASSETS ARE INCLUDED IN THE "UNDER 1 YEAR" CATEGORY, AS
     THEY ARE SUBJECT TO AN INTEREST RATE ADJUSTMENT EVERY SIX OR TWELVE MONTHS,
     DEPENDING UPON LOAN PLAN.
(2)  MATURITY/RATE SENSITIVITY IS BASED UPON CONTRACTUAL MATURITY WITH PROJECTED
     REPAYMENT OF PRINCIPAL.
(3)  BASED ON CONTRACTUAL MATURITY OF THE INVESTMENTS.
(4)  SAVINGS ACCOUNT DECAY RATES USED ASSUME THAT THE ACCOUNTS HAVE A MARKET
     VALUE SENSITIVITY APPROXIMATING THAT OF A 2 1/2YEAR TREASURY BOND.
(5)  THE DIFFERENCE BETWEEN RATE SENSITIVE ASSETS AND RATE SENSITIVE
     LIABILITIES.
(6)  GENERALLY FIXED RATE.

     As prepayment activity changes, however, the resulting gap is expected to
be affected. An increase in prepayment speeds would be expected to move the gap
toward a matched or positive position. The opposite would be expected to occur
if prepayment speeds decrease. Prepayment speeds are influenced by fluctuation
in interest rates and may not produce the same results as reflected in the
previous table. Also, certain assets and liabilities may have similar maturities
or repricing periods but could react differently to changes in interest rates.
Assets which have adjustable-rate features may have a limitation on the periodic
interest rate adjustments and could result in a rate that is still below
existing market rates. This same feature may also limit the downward adjustment
in a declining rate environment.

                                       44
<Page>

     The Bank increased its deposits and paid down its FHLB advances in the last
quarter of 1999, when it purchased two branches. The increase in deposits
continued during 2000 and 2001 when it opened a new full-service branch in
Albuquerque in June 2000. As loans receivable increased during 2001, the Bank
increased its FHLB advances. The decrease in interest rates during 2001 has
increased the attention of management to lengthen the duration of its interest
bearing liabilities, to match the duration of its interest earning assets.

     Presented below, as of December 31, 2001, is an analysis of the Bank's
interest rate risk as measured by changes in net present value for instantaneous
and sustained parallel shifts in the yield curve, in 50 or 100 basis point
increments, up and down 300 basis points. As illustrated in the table, the
Bank's NPV is more sensitive to rising rates than declining rates. This occurs
principally because, as rates rise, the market value of fixed-rate loans
declines due to both the rate increase and slowing prepayments (and the NPV
focuses on the Bank's entire portfolio, not just assets that are subject to
adjustment or maturity within one year). When rates decline, the Bank does not
experience a significant rise in market value for these loans because borrowers
repay at relatively high rates.

<Table>
<Caption>
                                       Net Present Value
             Change in               At December 31, 2001
           interest rate     --------------------------------------
          (basis points)         $ Change            % Change
         ------------------  ------------------  ------------------
                                   (000's)
                          (Dollars in Thousands)
                 <S>            <C>                      <C>
                 +300           $      (7,602)           (29)%
                 +200                  (5,097)           (19)
                 +100                  (2,571)           (10)
                  +50                  (1,210)            (5)
                    0                      --             --
                  -50                   1,124              4
                 -100                   1,933              7
                 -200                     797              3
                 -300                    (185)            (1)
</Table>

                                       45
<Page>

     Management reviews these measurements periodically. In addition to
monitoring selected measures on NPV, management also monitors effects on net
interest income resulting from increases or decreases in rates. This measure is
used in conjunction with NPV measures to identify excessive interest rate risk.

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

     In addition, the previous table does not necessarily indicate the impact of
general interest rate movements on the Bank's net interest income because the
repricing of certain categories of assets and liabilities is subject to
competitive and other pressures beyond the Bank's control. As a result, certain
assets and liabilities indicated as maturing or otherwise repricing within a
stated period may in fact mature or reprice at different times and at different
volumes.

LIQUIDITY AND CAPITAL RESOURCES

     The Company's current liquidity and capital resources are dependent on its
ability to borrow funds from the Bank and other sources as well as receive
dividends from the Bank. The Bank's primary sources of funds are deposits, sales
of mortgage loans, principal and interest payments on loans and mortgage-backed
securities, borrowings, and funds provided by operations. While scheduled loan
and mortgage-backed securities principal repayments are a relatively predictable
source of funds, deposits flows, prepayments of principal on loans and
mortgage-backed securities, and sales of mortgage loans are greatly influenced
by general interest rates, economic conditions, and competition.

     During the year ended December 31, 2001, total deposits increased
approximately $9.6 million or 7.03%, and FHLB advances increased by $6 million.
Stock options were exercised in 2001 with proceeds to the Company of $28,687.
Securities available-for-sale increased by $2.8 million and securities
held-to-maturity decreased by $4.5 million in 2001. The increase in deposits and
FHLB advances and the net decrease in securities were used to fund loans which
increased by $22 million in 2001.

     The Bank's capital for regulatory purposes at December 31, 2001 was
$15,811,340 or 9.16% of total regulatory assets. Regulations require savings
institutions to have a minimum regulatory tangible capital ratio equal to 1.5%
of adjustable tangible assets, a minimum 3% core capital ratio, and a minimum 8%
risk-based capital ratio. At December 31, 2001 and 2000, the Bank was in
compliance with all applicable capital standards.

     The OTS has adopted a rule that requires every thrift association with more
than normal interest rate risk to deduct from its total capital, for purposes of
determining compliance with such requirement, an amount equal to 50% of its
interest rate risk exposure multiplied by the present value of its assets. This
exposure is a measure of the potential decline in the net portfolio value of a
thrift association, greater than 2% of the present value of its assets, based
upon a hypothetical 200 basis point increase or decrease in interest rates
(whichever results in a greater decline). Net portfolio value is the present
value of expected cash flows from assets, liabilities and off-balance sheet
contracts. The rule provides for a two quarter lag between calculating interest
rate risk and recognizing any deduction from capital. Any thrift association
with less than $300 million in assets and a total capital ratio in excess of 12%
is exempt from this requirement unless the OTS determines otherwise.

                                       46
<Page>

     The table below presents the Bank's capital position at December 31, 2001
relative to the existing regulatory requirements:

<Table>
<Caption>
                                                                                  Percent of
                                                                  Amount           assets (1)
                                                             ------------------  ---------------
                                                                (Dollars In
                                                                 Thousands)
<S>                                                          <C>                       <C>
Tangible capital                                             $       15,811             9.16%
Tangible capital requirement                                          2,589             1.50
                                                             ------------------  ---------------

       Excess tangible capital                               $       13,222             7.66%
                                                             ==================  ===============

Core capital                                                 $       15,811             9.16%
Core capital requirement                                              6,904             4.00
                                                             ------------------  ---------------

       Excess core capital                                   $        8,907             5.16%
                                                             ==================  ===============

Total capital (i.e., core and supplemental capital)          $       16,556            13.25%
Risk-based capital requirement                                        9,998             8.00
                                                             ------------------  ---------------

       Excess total capital                                  $        6,558             5.25%
                                                             ==================  ===============
</Table>

(1)  Based upon adjusted assets for purposes of the tangible capital and core
     capital requirements, and risk-weighted assets for purposes of the
     risk-based capital requirement.

     The OTS Capital Distribution Regulation differentiates thrift institutions
primarily by their capital levels and prescribes the amount of capital
distributions that can be made without prior OTS approval.

     The Bank has met its liquidity requirements with funds generated from
operations, proceeds from repayment or sale of loans and investment securities,
short-term borrowings, and the purchase of deposits during 2001. If alternative
funding is needed, the Bank can generate additional funds from several other
sources. Currently, the FHLB system functions as a source of credit for the
Bank.

TRUST PREFERRED SECURITY

     On July 17, 2001, the Company issued $4 million of 10.25% Fixed Rate
Capital Trust Pass-through Securities of Access Anytime Capital Trust I with a
liquidation value of $1,000 per share to mature 30 years from the date of
issuance. The Company then invested approximately $2.9 million of the net
proceeds in the Bank to increase its capital levels.

ASSET QUALITY

     ALLOWANCE FOR LOAN LOSSES. The allowance for loan losses is established
through a provision for loan losses based on management's quarterly asset
classification review and evaluation of the risk inherent in its loan portfolio
and changes in the nature and volume of its loan activity. Such evaluation,
which includes a review of all loans of which full collectibility may not be
reasonably assured, considers among other matters, the estimated fair value of
the underlying collateral, economic conditions, cash flow analysis, historical
loan loss experience, discussions held with delinquent borrowers and other
factors that warrant recognition in providing for allowance for loan losses.

     During 2001, net loans increased approximately $22,005,000 or 18.4% from
December 31, 2000 and the allowance for loan losses increased $64,000.
Management feels that the December 31, 2001 allowances are adequate for future
needs.

                                       47
<Page>

     The following presents an analysis of the allowance for loan losses for
years ended December 31, 2001, 2000, and 1999.

<Table>
<Caption>
                                                                                             Year ended December 31
                                                                                    ----------------------------------------
                                                                                        2001          2000          1999
                                                                                    -----------    -----------   -----------
                                                                                              (Dollars In Thousands)
<S>                                                                                 <C>            <C>           <C>
MORTGAGE LOANS:
Balance at beginning of year                                                        $       386    $       422   $       362

Loans charged-off                                                                           (24)            --            --
Recoveries                                                                                   --             --            --
                                                                                    -----------    -----------   -----------

       Net loans charged-off                                                                (24)            --            --
Provision for loan losses charged to operations                                              89             72            60
Transfers                                                                                    --           (108)           --
                                                                                    -----------    -----------   -----------

BALANCE AT END OF YEAR                                                              $       451    $       386   $       422
                                                                                    ===========    ===========   ===========

CONSUMER AND OTHER:
Balance at beginning of year                                                        $       295    $       442   $       239

Loans charged-off                                                                          (418)          (151)         (342)
Recoveries                                                                                   57             19            31
                                                                                    -----------    -----------   -----------

       Net loans charged-off                                                               (361)          (132)         (311)
Provision for loan losses charged to operations                                             360            127           264
Transfers                                                                                    --            108            --
Acquired reserve                                                                             --           (250)          250
                                                                                    -----------    -----------   -----------

BALANCE AT END OF YEAR                                                              $       294    $       295   $       442
                                                                                    ===========    ===========   ===========

TOTAL ALLOWANCE FOR LOAN LOSSES:
Balance at beginning of year                                                        $       681    $       864   $       601

Loans charged-off                                                                          (442)          (151)         (342)
Recoveries                                                                                   57             19            31
                                                                                    -----------    -----------   -----------

       Net loans charged-off                                                               (385)          (132)         (311)
Provision for loan losses charged to operations                                             449            199           324
Acquired reserve                                                                             --           (250)          250
                                                                                    -----------    -----------   -----------

BALANCE AT END OF YEAR                                                              $       745    $       681   $       864
                                                                                    ===========    ===========   ===========

Allowance for loan losses as a percentage of total loans outstanding                       0.53%          0.57%         0.83%
                                                                                    ===========    ===========   ===========
</Table>

                                       48
<Page>

     NON-PERFORMING ASSETS. Total non-performing assets increased by
approximately $1.7 million during 2001. The non-performing assets to total
assets ratio is one indicator of the exposure to credit risk. Non-performing
assets of the Bank consist of non-accruing loans, troubled debt restructurings,
and real estate which was acquired as a result of foreclosure. The composition
of the Bank's portfolio of non-performing assets is shown in the following
table:

<Table>
<Caption>
                                                                                        2001          2000          1999
                                                                                    ----------   ------------  ------------
                                                                                              (Dollars In Thousands)
<S>                                                                                 <C>            <C>           <C>
Non-accruing loans*                                                                 $    1,407     $      280    $      125
Past due 90 days or more and still accruing                                                 --             --            --
Other real estate                                                                          605            154           188
                                                                                    ----------     ----------    ----------

Total non-performing assets                                                         $    2,012     $      434    $      313
                                                                                    ==========     ==========    ==========

Ratio of non-performing assets to total assets                                            1.15%          0.28%         0.22%
                                                                                    ==========     ==========    ==========
</Table>

  *  Primarily loans which are past due for 90 days or more

     Interest lost on non-performing assets amounted to $93,823, in 2001
compared to $17,315 in 2000.

     INVESTMENT SECURITIES - The Bank's available-for-sale securities portfolio
has a $119,794 unrealized gain, while a $67,703 unrealized loss was recorded at
December 31, 2000. The Bank's held-to-maturity securities portfolio has an
unrealized gain of $38,591 and $20,073 at December 31, 2001 and 2000,
respectively. The Bank's available-for-sale and held-to-maturity portfolios did
not experience significant fair market value fluctuations during the year ended
December 31, 2001.

OFF-STATEMENT OF FINANCIAL CONDITION FINANCIAL INSTRUMENTS

     The Bank may be a party to financial instruments with off-statement of
financial condition risk in the normal course of business to meet the financing
needs of its customers and to reduce its own exposure to fluctuation in interest
rates. These financial instruments include commitments to extend credit
(including credit cards), standby letters of credit, and financial guarantees.
These instruments involve, to varying degrees, elements of credit and interest
rate risk in excess of the amount recognized in the consolidated statements of
financial condition. The contract or notional amounts of these instruments
reflect the extent of involvement the Bank has in particular classes of
financial instruments. The Bank uses the same credit policies in making
commitments and conditional obligations as it does for the consolidated
statements of financial condition instruments.

     At December 31, 2001, unfunded credit commitments are as follows:

<Table>
<Caption>
                                                                (Dollars In
                                                                 Thousands)
                                                            ------------------
        <S>                                                 <C>
        Commitments to extend residential loans             $            1,229
        Lines of credit                                     $            8,809
        Credit cards                                        $            1,827
</Table>

     Commitments to extend credit are agreements to lend to a customer as long
as there is no violation of any condition established in the contract.
Commitments generally have fixed expiration dates or other termination clauses
and may require payment of a fee. Some of the commitments are expected to expire
without being drawn

                                       49
<Page>

upon. The total commitment amounts do not necessarily represent future cash
requirements. The Bank evaluates each customer's creditworthiness on a
case-by-case basis. The amount of collateral obtained, if deemed necessary by
the Bank upon extension of credit, is based on management's credit evaluation of
the customers.

     Standby letters of credit and financial guarantees written are conditional
commitments issued by the Bank to guarantee the performance of a customer to a
third party. Currently, letters of credit are not extended beyond one year. The
credit risk involved in issuing letters of credit is essentially the same as
that involved in extending loan facilities to customers. The Bank holds
collateral and personal guarantees as deemed necessary. At December 31, 2001 and
2000, the Bank had $4,000,000 and $0 in standby letters of credit outstanding,
respectively.

     At December 31, 2001, the Bank had no open interest rate swaps, futures,
options, or forward contracts.

     At December 31, 2001 and 2000, the Bank had $2,264,188 and $1,318,130,
respectively, of commitments to sell single family residential loans.

IMPACT OF INFLATION AND CHANGING PRICES

     The consolidated financial statements and related data have been prepared
in accordance with accounting principles generally accepted in the United States
of America which require measurement of financial position and operating results
in terms of historical dollars, without considering changes in relative
purchasing power over time due to inflation.

     Virtually all of the assets and liabilities of a financial institution are
monetary in nature. As a result, interest rates generally have a more
significant impact on the Company's and the Bank's performance than does the
effect of inflation.

CRITICAL ACCOUNTING POLICIES

     ALLOWANCE FOR LOAN LOSSES. The level of allowance for loan losses is based
on such factors as the amount of non-performing assets, historical loss
experience, regulatory policies, general economic conditions, the estimated fair
value of the underlying collateral and other factors which may affect the
collectibility of the loans. During 2001, the provision for loan losses
increased to $449,000 from the year 2000 provision of $199,000 due to the
increase in loans receivable and non-performing assets.

     Management of the Bank reviewed its Loan Loss Reserve Policy during 2001
for compliance with SEC Staff Accounting Bulletin (SAB) 102. In determining the
Loan Loss Reserve and Allowances for Loan Loss Reserve the Bank uses the OTS and
SEC guidelines, specifically the guidance outlined in OTS CEO Memo 142, SEC SAB
102, FAS 5, and FAS 114.

     Based on recommendations by management of the Bank, the Bank's Board of
Directors is responsible for the accuracy and adequacy of the Loan Loss
Calculation and reviews and approves the Calculated Reserve and Provisions. The
Board delegates the responsibility to its Audit Committee to oversee the process
of how the Loan Loss Reserve is calculated and the periodic validation of the
calculation process.

     The loan portfolio is segmented and historical loss percentages will be
applied to the identified segments of the portfolio in conjunction with FAS 5.
In addition, certain loans will be individually analyzed and a loss reserve
amount calculated for each one of these loans, in conjunction with FAS 114.

     Management of the Bank makes various assumptions and judgments about the
collectibility of our loan portfolio and provides an allowance for potential
losses based on a number of factors. If the assumptions are

                                       50
<Page>

wrong, our allowance for loan losses may not be sufficient to cover loan losses.
The allowances may be increased in the future, which would decrease our net
income.

     The Bank's exposure to commercial loans generally involves a higher degree
of credit risk than single-family residential lending. These loans involve
larger loan balances to a single borrower or groups of related borrowers. These
loans are more susceptible to a risk of loss during a downturn in the business
cycle. The underwriting, review and monitoring performed by our officers and
directors cannot eliminate all of the risks related to these loans.

     INCOME TAXES. The Company's valuation allowance was decreased by
approximately $482,000 during the year ended December 31, 2001, due to a
re-evaluation of the realizability of the state net operating loss. As of
December 31, 2001 the Company had a total New Mexico net operating loss of $21
million. The loss may not be carried back, and will expire in varying amounts
through 2005. Due to the uncertainty of the realization of the state net
operating loss, the Company has established a valuation allowance of
approximately $1 million as of December 31, 2001. In assessing the realizability
of the remaining deferred tax assets, management considered projected future
taxable income and tax planning strategies. Based on the Company's historical
taxable transactions, the timing of the reversal of existing temporary
differences, and the evaluation of tax planning strategies, management believes
it is more likely than not that the Company's future taxable income will be
sufficient to realize the benefit of the remaining deferred tax assets existing
at December 31, 2001.

     GOODWILL. In June 2001, the FASB issued Statement No. 142 (Statement 142),
GOODWILL AND OTHER INTANGIBLE ASSETS. The Company implemented Statement 142 on
January 1, 2002. Goodwill is no longer amortized under Statement 142 but will be
tested and written down based on goodwill impairment.

CONTRACTUAL CASH OBLIGATIONS

     The following tables present contractual cash obligations and commercial
commitments of the Company as of December 31, 2001.

<Table>
<Caption>
                                                                               Payments due by Period
                                                      Less than         One to         Four to          After
Contractual Cash Obligations                           One Year       Three Years     Five Years      Five Years         Total
--------------------------------------------------  --------------  --------------  --------------  --------------  --------------
                                                                                (Dollars in Thousands)
<S>                                                 <C>             <C>             <C>             <C>             <C>
Federal Home Loan Bank advances                     $       6,500   $     2,250     $        --     $         --    $      8,750
Employee Stock Ownership Plan-Note Payable                    188           405             446              103           1,142
Trust Preferred Security-Note Payable                          --            --              --            4,000           4,000
Operating leases                                                4             7               2               --              13
                                                    --------------  --------------  --------------  --------------  --------------
Total contractual cash obligations                  $       6,692   $     2,662     $       448     $      4,103    $     13,905
</Table>

IMPACT OF NEW ACCOUNTING STANDARDS

     In June 1998, the Financial Accounting Standards Board ("FASB") issued
Statement No. 133 ("Statement 133"), ACCOUNTING FOR DERIVATIVE INSTRUMENTS AND
HEDGING ACTIVITIES. In June 1999, the FASB issued Statement No. 137, DEFERRAL OF
THE EFFECTIVE DATE OF FASB STATEMENT NO. 133, which deferred the effective date
of Statement 133 to no later than January 1, 2001 for the Company's consolidated
financial statements. Statement 133 requires companies to record derivatives on
the statement of financial condition at fair value. Changes in the fair values
of those derivatives would be reported in earnings or other comprehensive income
depending on the use of the derivative and whether it qualifies for hedge
accounting. The key criterion for hedge accounting is that the hedging
relationship must be highly effective in achieving offsetting changes in fair
value of assets or liabilities or cash flows from forecasted transactions. In
June 2000, the FASB issued

                                       51
<Page>

Statement No. 138, ACCOUNTING FOR CERTAIN DERIVATIVE INSTRUMENTS AND CERTAIN
HEDGING ACTIVITIES, an amendment of FASB Statement No. 133. The Company
implemented Statement 133 on January 1, 2001 and this implementation did not
materially impact the Company's consolidated financial statements.

     In September 2000, the FASB issued Statement No. 140 (Statement 140),
ACCOUNTING FOR THE TRANSFERS AND SERVICING OF FINANCIAL ASSETS AND
EXTINGUISHMENTS OF LIABILITIES, which replaces Statement No. 125 (of the same
title). Statement 140 revises certain standards in the accounting for
securitizations and other transfers of financial assets and collateral, and
requires some disclosures relating to securitization transactions and
collateral, but it carries over most of Statement 125's provisions. The
collateral and disclosure provisions of Statement 140 were effective for
year-end 2000 financial statements. The other provisions of this Statement were
effective for transfers and servicing of financial assets and extinguishment of
liabilities occurring after March 31, 2001. The adoption of this standard did
not have a material impact to the Company.

     In June 2001, the Financial Accounting Standards Board issued Statement No.
141 ("Statement 141"), BUSINESS COMBINATIONS, and Statement No. 142 ("Statement
142"), GOODWILL AND OTHER INTANGIBLE ASSETS. Statement 141 required that the
purchase method of accounting be used for all business combinations initiated
after June 30, 2001 as well as all purchase method business combinations
completed after June 30, 2001. Statement 141 also specifies criteria that
intangible assets acquired in a purchase method business combination must meet
to be recognized and reported apart from goodwill. Statement 142 requires that
goodwill and intangible assets with indefinite useful lives no longer be
amortized, but instead tested for impairment at least annually in accordance
with the provisions of Statement 142. Statement 142 requires that intangible
assets with definite useful lives be amortized over their respective estimated
useful lives to their estimated residual values, and reviewed for impairment in
accordance with the Financial Accounting Standards Board's Statement No. 121
("Statement 121"), ACCOUNTING FOR THE IMPAIRMENT OF LONG-LIVED ASSETS AND FOR
LONG-LIVED ASSETS TO BE DISPOSED OF. Financial Accounting Standards Board's
Statement No. 144, ACCOUNTING FOR THE IMPAIRMENT OR DISPOSAL OF LONG-LIVE ASSETS
supercedes Statement 121 and is effective for fiscal years beginning after
December 15, 2001.

     The Company adopted the provisions of Statement 141 as of July 1, 2001 and
Statement 142 on January 1, 2002. The adoption of Statement 141 did not have any
impact on the Company's consolidated financial statements.

     Statement 141 requires upon adoption of Statement 142, that the Company
evaluate its existing intangible assets and goodwill that were acquired in a
prior purchase business combination, and to make any necessary reclassifications
in order to conform with the new criteria in Statement 141 for recognition apart
from goodwill. Upon adoption of Statement 142, the Company is required to
reassess the useful lives and residual values of all intangible assets acquired
in purchase business combinations, and make any necessary amortization period
adjustments by the end of the first interim period after adoption. In addition,
to the extent an intangible asset is identified as having an indefinite useful
life, the Company is required to test the intangible asset for impairment in
accordance with the provisions of Statement 142 within the first interim period.
Any impairment loss will be measured as of the date of adoption and recognized
as the cumulative effect of a change in accounting principle in the first
interim period.

     In connection with the transitional goodwill impairment evaluation,
Statement 142 requires the Company to perform an assessment of whether there is
an indication that goodwill is impaired as of the date of adoption. To
accomplish this the Company must identify its reporting units and determine the
carrying value of each reporting unit by assigning the assets and liabilities,
including the existing goodwill and intangible assets, to those reporting units
as of the date of adoption. The Company will have up to six months from the date
of adoption to determine the fair value of each reporting unit and compare it to
the reporting unit's carrying amount. To the extent a reporting unit's carrying
amount exceeds its fair value, an indication exists that such reporting unit's
goodwill may be impaired and the Company must perform the second step of the
transitional impairment test. In the second step, the Company must compare the
implied fair value of the reporting unit's goodwill, determined by allocating
the reporting unit's fair value to all of its assets (recognized and
unrecognized) and liabilities in a manner similar to a purchase price allocation
in accordance with Statement 141, to its carrying

                                       52
<Page>

amount, both of which would be measured as of the date of adoption. This second
step is required to be completed as soon as possible, but no later than the end
of the year of adoption. Any transitional impairment loss will be recognized as
the cumulative effect of a change in accounting principle in the Company's
consolidated statements of operations.

     The Company adopted Statement 142 as of January 1, 2002 and will no longer
amortize goodwill. As of the date of the adoption, the Company had unamortized
goodwill in the amount of approximately $1.87 million which is subject to the
transition provisions of Statements 141 and 142. Amortization expense related to
goodwill was $145,661, $145,067 and $24,056 for the years ended December 31,
2001, 2000, and 1999, respectively. Because of the extensive effort needed to
comply with adopting Statements 141 and 142, it is not practicable to reasonably
estimate the impact of adopting the Statements on the Company's financial
statements at the date of this report, including whether it will be required to
recognize any transitional impairment losses as the cumulative effect of a
change in accounting principle.

     In August 2001, the FASB issued Statement No. 144 (Statement 144),
ACCOUNTING FOR THE IMPAIRMENT OF DISPOSAL OF LONG-LIVED ASSETS, which supersedes
FASB Statement No. 121, ACCOUNTING FOR THE IMPAIRMENT OF LONG-LIVED ASSETS AND
FOR LONG-LIVED ASSETS TO BE DISPOSED OF. Statement 144 addresses financial
accounting and reporting for the impairment or disposal of long-lived assets.
The provisions of the statement are effective for financial statements issued
for fiscal years beginning after December 15, 2001, and interim periods within
those fiscal years. The Company adopted Statement 144 on January 1, 2002 and
this adoption had no impact on the Company's consolidated financial statements.

FORWARD-LOOKING STATEMENTS

     When used in this report, the words "believes," "anticipates," "expect" and
similar expressions are intended to identify "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995. Such
statements are subject to certain risks and uncertainties which could cause
actual results to differ materially from historical or projected economic
conditions, including, but not limited to, those set forth in "Management's
Discussion and Analysis or Plan of Operation," changes in economic conditions in
the Company's market area, changes in policies by regulatory agencies,
fluctuations in interest rates, demand for loans in the Company's market area
and competition. READERS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE
FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE HEREOF. THE COMPANY
UNDERTAKES NO OBLIGATION TO PUBLICLY RELEASE THE RESULTS OF ANY REVISIONS TO
THESE FORWARD-LOOKING STATEMENTS WHICH MAY BE MADE TO REFLECT EVENTS OR
CIRCUMSTANCES AFTER THE DATE HEREOF OR TO REFLECT THE OCCURRENCE OF ANTICIPATED
OR UNANTICIPATED EVENTS.

ITEM 7. FINANCIAL STATEMENTS

     Financial statements are filed as a part of this report at the end of Part
III hereof beginning at page F-1, Index to Consolidated Financial Statements,
and are incorporated herein by reference.

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
        FINANCIAL DISCLOSURES

     Information has been previously reported as defined in SEC Rule 12b-2.

                                       53
<Page>

                                    PART III

     The information required by Part III is omitted from this report because
the Company will file a definitive Proxy Statement for the Company's 2002 Annual
Meeting of Stockholders (the "Proxy Statement") pursuant to Regulation 14A of
the Securities Exchange Act of 1934 not later than 120 days after the end of the
fiscal year covered by this Form 10-KSB and certain information included therein
is incorporated herein by reference.

ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE
        WITH SECTION 16(a) OF THE EXCHANGE ACT

     The information required by this Item is incorporated by reference to the
Proxy Statement.

ITEM 10. EXECUTIVE COMPENSATION

     The information required by this Item is incorporated by reference to the
Proxy Statement.

ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

     The information required by this Item is incorporated by reference to the
Proxy Statement.

ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

     The information required by this Item is incorporated by reference to the
Proxy Statement.

                                       54
<Page>

ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K

(a) EXHIBITS

<Table>
<Caption>
     EXHIBIT NO.                            DESCRIPTION
------------------      --------------------------------------------------------
<S>                     <C>
      **2.0             Branch Purchase and Deposit Assumption Agreement dated
                        June 18, 1999 between Bank of Albuquerque, National
                        Association, and FirstBank, a federal savings bank
                        (incorporated by reference from the Company's Form 8-K
                        filed November 19, 1999)

      **2.1             Letter amendment, dated September 30, 1999, to Branch
                        Purchase and Deposit Assumption Agreement dated June 18,
                        1999 between Bank of Albuquerque, National Association,
                        and FirstBank, a federal savings bank (incorporated by
                        reference from the Company's Form 8-K filed November 19,
                        1999)

      **3.1             Certificate of Amendment of Certificate of Incorporation
                        and Certificate of Incorporation of the Company
                        (incorporated by reference from the Company's Quarterly
                        Report on Form 10-QSB for the quarter ended June 30,
                        1997, SEC File No. 0-28894)

      **3.2             Amended Bylaws of the Company (incorporated by reference
                        from the Company's Registration Statement on Form S-8,
                        filed June 2,1997, SEC File No. 333-28215)

     **10.1             Agreement and Plan of Reorganization and Plan of Merger
                        (incorporated by reference from the Company's
                        Registration Statement on Form 8-A, filed October 11,
                        1996, SEC File No. 001-12309)

     **10.3             Profit Sharing and Employee Stock Ownership Plan
                        of FirstBank (incorporated by reference from the
                        Company's December 31, 2000 10-KSB)

    *10.3.1             Amendment Number One to Profit Sharing and Employee
                        Stock Ownership Plan of FirstBank

    *10.3.2             Amendment Number Two to Profit Sharing and Employee
                        Stock Ownership Plan of FirstBank

    *10.3.3             Amendment Number Three to Profit Sharing and Employee
                        Stock Ownership Plan of FirstBank

    **10.4              Agreement for Standby Letter of Credit
                        Advances/Confirmation, Collateral Pledge and Security
                        Agreement with FHLB of Dallas (incorporated by reference
                        from the Company's Registration Statement on Form 8-A,
                        filed October 11, 1996, SEC File No. 001-12309)

 **/***10.6             Employment Agreement with Kenneth J. Huey, Jr.
                        (incorporated by reference from the Company's
                        Registration Statement on Form 8-A, filed October 11,
                        1996, SEC File No. 001-12309)

**/***10.6.1            Extension of Employment Agreement with Kenneth J. Huey,
                        Jr. dated November 20, 1997 (incorporated by reference
                        from the Company's September 30, 1999 10-QSB)

**/***10.6.2            Extension of Employment Agreement with Kenneth J. Huey,
                        Jr. dated July 29, 1999 (incorporated by reference from
                        the Company's September 30, 1999 10-QSB)

**/***10.6.3            Extension of Employment Agreement with Kenneth J. Huey,
                        Jr. dated August 23, 2001 (incorporated by reference
                        from the Company's September 30, 2001 10-QSB)

**/***10.7              Employment Agreement with Norman R. Corzine
                        (incorporated by reference from the Company's 1996
                        10-KSB)

**/***10.7.1            Extension of Employment Agreement with Norman R. Corzine
                        dated November 20, 1997 (incorporated by reference from
                        the Company's September 30, 1999 10-QSB)

**/***10.7.2            Extension of Employment Agreement with Norman R. Corzine
                        dated July 29, 1999 (incorporated by reference from the
                        Company's September 30, 1999 10-QSB)

**/***10.7.3            Extension of Employment Agreement with Norman R. Corzine
                        dated August 23, 2001 (incorporated by reference from
                        the Company's September 30, 2001 10-QSB)

**/***10.10             Non-Employee Director Retainer Plan (incorporated by
                        reference from the Company's Registration Statement on
                        Form S-8, filed June 2, 1997, SEC File No. 333-28217)

**/***10.10.1           Amendment Number One to Non-Employee Director Retainer
                        Plan dated April 26, 2001 (incorporated by reference
                        from the Company's June 30, 2001 10-QSB)

**/***10.11             1997 Stock Option and Incentive Plan (incorporated by
                        reference from the Company's Registration Statement on
                        Form S-8, filed June 2, 1997, SEC File No. 333-28215)

**/***10.12             Nonqualified 401(K) Rabbi Trust for an Executive Savings
                        Plan dated June 1, 1998 (incorporated by reference from
                        the Company's September 30, 1999 10-QSB)
</Table>

                                       55
<Page>

<Table>
<Caption>
     EXHIBIT NO.                            DESCRIPTION
------------------      --------------------------------------------------------
<S>                     <C>
**/***10.12.1           Amendment Number One to Nonqualified 401(K) Rabbi Trust
                        for an Executive Savings Plan dated June 1, 1998
                        (incorporated by reference from the Company's September
                        30, 1999 10-QSB)

    **16.1              Letter from the certifying accountants required by
                        Regulation S-B, Item 304(a)(3) (incorporated by
                        reference from the Company's December 31, 2000 10-KSB)

     *21                Subsidiaries of the Small Business Issuer

     *23.1              Consent of Independent Accountants from Robinson
                        Burdette Seright & Burrows, L.L.P.

     *23.2              Consent of Independent Auditors from KPMG LLP
</Table>

   * Filed herewith
  ** Previously filed
 *** Designates each management contract or compensatory plan or arrangement
     required to be identified pursuant to Item 13(a) of Form 10-KSB.

(B) REPORTS ON FORM 8-K

     The following subparagraph sets forth information concerning two Form 8-Ks,
one of which was an amendment filed after the fourth quarter ended December 31,
2001:

     1.  On December 31, 2001, the Company filed a Form 8-K to announce the
         changing of its principal executive office from 801 Pile Street,
         Clovis, New Mexico 88101 to 5210 Eubank Blvd., NE, Albuquerque, New
         Mexico 87111 effective January 1, 2002.

     2.  On January 2, 2002, the Company filed an amended Form 8-K, amending the
         Form 8-K filed on December 31, 2001, to announce the changing of its
         principal executive office from 801 Pile Street, Clovis, New Mexico
         88101 to 5210 Eubank Blvd., NE, Albuquerque, New Mexico 87111 effective
         January 1, 2002.

                                       56
<Page>

                                   SIGNATURES

     Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

                                       ACCESS ANYTIME BANCORP, INC.

     Date:  March 1, 2002              /s/ Norman R. Corzine
                                       -----------------------------------------
                                       Norman R. Corzine, Chairman of the Board,
                                       Chief Executive Officer
                                       (DULY AUTHORIZED REPRESENTATIVE)

     Pursuant to the requirement of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.

By:  /s/ Norman R. Corzine                By:   /s/ R. Chad Lydick
     ----------------------------------         -------------------------------
     Norman R. Corzine                          R. Chad Lydick
     Chairman of the Board                      Director
     Chief Executive Officer
     Director

     Date:  March 1, 2002                       Date:  March 1, 2002

By:  /s/ Ken Huey, Jr.                    By:   /s/ Charles Guthals
     ----------------------------------         -------------------------------
     Ken Huey, Jr.                              Charles Guthals
     President, Chief Financial Officer         Director
     Principal Accounting Officer
     Director

     Date:  March 1, 2002                       Date:  March 1, 2002

By:  /s/ Thomas W. Martin, III            By:   /s/ Allan M. Moorhead
     ----------------------------------         -------------------------------
     Thomas W. Martin, III                      Allan M. Moorhead
     Director                                   Director

     Date:  March 1, 2002                       Date:  March 1, 2002

By:  /s/ David Ottensmeyer, M.D.          By:   /s/ Cornelius Higgins, Ph.D.
     ----------------------------------         -------------------------------
     David Ottensmeyer                          Cornelius Higgins
     Director                                   Director

     Date:  March 1, 2002                       Date:  March 1, 2002

                                   (Continued)

                                       57
<Page>

                                   SIGNATURES
                                   (CONTINUED)

By:  /s/ Richard H. Harding               By:   /s/ Don K. Padgett
     ----------------------------------         -------------------------------
     Richard H. Harding                         Don K. Padgett
     Director                                   Director

     Date:  March 1, 2002                       Date:  March 1, 2002

                                       58
<Page>

                   INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
<Table>
<Caption>
                                                                                                                  PAGE
<S>                                                                                                                 <C>
Independent Auditors' Report..............................................................................          F-2
Report of Independent Accountants.........................................................................          F-3

Financial Statements:
         Consolidated Statements of Financial Condition...................................................          F-4
         Consolidated Statements of Operations............................................................          F-5
         Consolidated Statements of Stockholders' Equity..................................................          F-6
         Consolidated Statements of Cash Flows............................................................          F-7
         Notes to Consolidated Financial Statements.......................................................          F-9
</Table>

                                       F-1
<Page>

                          INDEPENDENT AUDITORS' REPORT

The Board of Directors and Stockholders
Access Anytime Bancorp, Inc.:

We have audited the accompanying consolidated statement of financial condition
of Access Anytime Bancorp, Inc. and subsidiary as of December 31, 2001, and the
related consolidated statements of operations, stockholders' equity, and cash
flows for the year then ended. These consolidated financial statements are the
responsibility of Access Anytime Bancorp, Inc.'s management. Our responsibility
is to express an opinion on these consolidated financial statements based on our
audit.

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

In our opinion, the consolidated financial statements referred to above present
fairly, in all material respects, the financial position of Access Anytime
Bancorp, Inc. and subsidiary as of December 31, 2001, and the results of their
operations and their cash flows for the year then ended in conformity with
accounting principles generally accepted in the United States of America.

                                    KPMG LLP

Albuquerque, New Mexico
January 31, 2002

                                       F-2
<Page>

REPORT OF INDEPENDENT ACCOUNTANTS

Members of the Audit Committee
Board of Directors and Stockholders
Access Anytime Bancorp, Inc.
Clovis, New Mexico

We have audited the accompanying consolidated statement of financial condition
of Access Anytime Bancorp, Inc. and subsidiary as of December 31, 2000, and the
related consolidated statements of operations, stockholders' equity and cash
flows for each of the two years in the period ended December 31, 2000. These
financial statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial statements based on
our audits.

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

In our opinion, the consolidated financial statements referred to above present
fairly, in all material respects, the financial position of Access Anytime
Bancorp, Inc. and subsidiary as of December 31, 2000 and the results of their
operations and their cash flows for each of the two years in the period ended
December 31, 2000, in conformity with accounting principles generally accepted
in the United States of America.

ROBINSON BURDETTE MARTIN SERIGHT & BURROWS, L.L.P.

Lubbock, Texas
January 31, 2001

                                       F-3
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

<Table>
<Caption>
                                                                                                  December 31
                                                                                    -----------------------------------------
ASSETS                                                                                     2001                  2000
                                                                                    -------------------   -------------------
<S>                                                                                 <C>                   <C>
Cash and cash equivalents                                                           $        10,611,093   $         7,145,268
Certificates of deposit                                                                         798,000             3,796,000
Securities available-for-sale (amortized cost of $10,327,387 and $7,706,414)                 10,447,181             7,638,711
Securities held-to-maturity (aggregate fair value of $1,649,788
  and  $6,110,834)                                                                            1,611,197             6,090,761
Loans held-for-sale (aggregate fair value of $1,055,950 and $844,858)                         1,034,719               821,180
Loans receivable, net                                                                       141,484,353           119,479,443
Interest receivable, loans                                                                      763,202               842,293
Interest receivable, securities                                                                  92,816               205,508
Real estate owned                                                                               605,552               154,218
Federal Home Loan Bank stock                                                                    984,200               944,600
Premises and equipment, net                                                                   3,700,329             3,512,894
Goodwill, net of amortization of $145,661 and $145,067                                        1,869,304             2,014,965
Deferred tax asset                                                                              972,607             1,112,875
Other assets                                                                                    583,078               585,923
                                                                                    -------------------   -------------------

       Total assets                                                                 $       175,557,631   $       154,344,639
                                                                                    ===================   ===================

LIABILITIES AND STOCKHOLDERS' EQUITY

Liabilities:
   Deposits                                                                         $       146,919,998   $       137,275,966
   Federal Home Loan Bank advances                                                            8,750,000             2,750,000
   Accrued interest and other liabilities                                                       936,039             1,134,847
   Advanced payments by borrowers for taxes and insurance                                       307,669               157,778
   Employee Stock Ownership Plan - Note Payable                                               1,141,766             1,289,739
   Trust Preferred Security - Note Payable                                                    4,000,000                    --
                                                                                    -------------------   -------------------

       Total liabilities                                                                    162,055,472           142,608,330
                                                                                    -------------------   -------------------

Commitments and contingencies

Stockholders' equity:
   Preferred stock, $.01 par value; 4,000,000 shares authorized; none
     issued                                                                                          --                    --
   Common stock, $.01 par value; 6,000,000 shares authorized;
     1,495,633 and 1,489,116 shares issued;  1,269,991 and 1,241,173
     outstanding in 2001 and 2000, respectively                                                  14,956                14,891
   Capital in excess of par value                                                            11,157,895            11,054,201
   Retained earnings                                                                          3,544,326             2,165,273
   Accumulated other comprehensive income (loss), net of tax expense
     of $47,918 and tax benefit of $23,019                                                       71,877               (44,684)
                                                                                    -------------------   -------------------
                                                                                             14,789,054            13,189,681
   Unallocated Employee Stock Ownership Plan shares; 192,000 and 224,000
     shares outstanding                                                                      (1,050,000)           (1,289,739)
   Treasury stock, at cost; 33,642 and 23,943 shares outstanding                               (236,895)             (163,633)
                                                                                    -------------------   -------------------
       Total stockholders' equity                                                            13,502,159            11,736,309
                                                                                    -------------------   -------------------

       Total liabilities and stockholders' equity                                   $       175,557,631   $       154,344,639
                                                                                    ===================   ===================
</Table>

  The accompanying notes are an integral part of these consolidated financial
                                  statements.

                                       F-4
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                      CONSOLIDATED STATEMENTS OF OPERATIONS

<Table>
<Caption>
                                                                                    Years ended December 31
                                                                   --------------------------------------------------------
                                                                         2001               2000                 1999
                                                                   -----------------  -----------------   -----------------
<S>                                                                <C>                 <C>                 <C>
Interest income:
   Loans receivable                                                $      10,774,835   $      9,193,286    $      7,593,497
   Equity securities                                                         208,101            242,756              73,777
   Mortgage-backed securities                                                680,482            849,396             900,027
   Other interest income                                                     389,431            415,922             320,229
                                                                   -----------------  -----------------   -----------------

       Total interest income                                              12,052,849         10,701,360           8,887,530
                                                                   -----------------  -----------------   -----------------

Interest expense:
   Deposits                                                                5,733,378          5,154,911           4,328,019
   Federal Home Loan Bank advances                                           265,283            507,792             466,128
   Other borrowings                                                          281,111             85,973                  --
                                                                   -----------------  -----------------   -----------------

       Total interest expense                                              6,279,772          5,748,676           4,794,147
                                                                   -----------------  -----------------   -----------------

       Net interest income before provision for
         loan losses                                                       5,773,077          4,952,684           4,093,383
Provision for loan losses                                                    449,354            199,378             323,820
                                                                   -----------------  -----------------   -----------------

       Net interest income after provision for loan
         losses                                                            5,323,723          4,753,306           3,769,563
                                                                   -----------------  -----------------   -----------------

Noninterest income:
   Loan servicing and other fees                                             354,301            256,302             251,845
   Net realized gains on sales of available-for-sale
     securities                                                                   --                 --             739,475
   Gains on sales of mortgage loans held-for-sale                            417,066            251,363             296,853
   Other income                                                              894,889            754,062             512,664
                                                                   -----------------  -----------------   -----------------

       Total noninterest income                                            1,666,256          1,261,727           1,800,837
                                                                   -----------------  -----------------   -----------------

Noninterest expenses:
   Salaries and employee benefits                                          2,752,748          2,615,728           2,081,742
   Occupancy expense                                                         768,838            834,983             616,981
   Deposit insurance premium                                                 125,794            105,043             148,742
   Advertising                                                                73,694             92,033              42,738
   Real estate operations, net                                                 6,444             27,755              35,435
   Professional fees                                                         268,393            286,094             233,236
   Amortization of goodwill                                                  145,661            145,067              24,056
   Other expense                                                           1,399,872          1,286,423           1,231,090
                                                                   -----------------  -----------------   -----------------

       Total noninterest expense                                           5,541,444          5,393,126           4,414,020
                                                                   -----------------  -----------------   -----------------

       Income before income taxes                                          1,448,535            621,907           1,156,380

Income tax expense (benefit)                                                  69,482            211,449            (241,834)
                                                                   -----------------  -----------------   -----------------

       Net income                                                  $       1,379,053   $        410,458    $      1,398,214
                                                                   =================  =================   =================

Earnings per common share-basic                                    $            1.05   $            .33    $           1.13
                                                                   =================  =================   =================

Earnings per common share-assuming dilution                        $            1.02   $            .32    $           1.10
                                                                   =================  =================   =================
</Table>

   The accompanying notes are an integral part of these consolidated financial
                                  statements.

                                       F-5
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                 CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

<Table>
<Caption>
                                         Common Stock       Treasury Stock
                                        ----------------- --------------------

                          Comprehensive   Number             Number            Unallocated
                             Income     of shares  Amount  of Shares   Amount  ESOP Shares
                          ------------- --------- -------- ---------  -------- ------------
<S>                       <C>          <C>        <C>         <C>    <C>        <C>
Balance at December 31,
   1998                                1,236,955  $ 12,370     1,376   $(7,224) $        --

Net income                $  1,398,214        --        --        --        --           --

Net change in
   unrealized
   depreciation on
   available-for-sale
   securities, net  of
   tax                         (32,381)       --        --        --        --           --

                          ------------
Total comprehensive
   income                 $  1,365,833
                          ============

Common stock issued                        7,061        70        --        --           --

Common stock rights
   awarded in lieu of
   directors' cash
   compensation                               --        --        --        --           --

Purchases of treasury
   stock                                      --        --     4,266   (32,786)          --
                                        --------  -------- ---------  --------     --------

Balance at December 31,
   1999                                1,244,016    12,440     5,642   (40,010)          --

Net income                $    410,458        --        --        --        --           --

Net change in
   unrealized
   appreciation on
   available-for-sale
   securities, net of
   tax                          28,684        --        --        --        --           --
                          ------------

Total comprehensive
   income                 $    439,142
                          ============

Common stock issued                      245,100     2,451        --        --           --

Common stock rights
   awarded in lieu of
   directors' cash
   compensation                               --        --        --        --           --

Purchase of ESOP shares                       --        --        --        --   (1,350,000)

Purchases of treasury
   stock                                      --        --    18,301  (123,623)          --

ESOP shares allocated                         --        --        --        --       60,261
                                      ----------  -------- --------- ---------   ----------
Balance at December 31,
   2000                                1,489,116    14,891    23,943  (163,633)  (1,289,739)

Net income                $  1,379,053        --        --        --        --           --

Net change in
   unrealized
   appreciation on
   available-for-sale
   securities, net of
   tax                         116,561        --        --        --        --           --
                          ------------

Total comprehensive
   income                 $  1,495,614
                          ============

Common stock issued                        6,517        65        --        --           --

Common stock rights
   awarded in lieu of
   directors' cash
   compensation                               --        --        --        --           --

Purchases of treasury
   stock                                      --        --     9,699   (73,262)          --

ESOP shares allocated                         --        --        --        --      239,739
                                      ----------  -------- --------- ---------  -----------

Balance at December                    1,495,633  $ 14,956    33,642 $(236,895) $(1,050,000)
                                      ==========  ======== ========= =========  ===========

<Caption>
                                                  Accumulated
                                                    Other
                           Capital               Comprehensive
                          in Excess                Income
                           of Par      Retained    (Loss)
                            Value      Earnings     Net           Total

                          ----------   ---------      ---------   ------------
<S>                      <C>          <C>          <C>         <C>
Balance at December 31,
   1998                   $9,604,001   $ 356,601   $ (40,987)  $  9,924,761

Net income                        --   1,398,214          --      1,398,214

Net change in
   unrealized
   depreciation on
   available-for-sale
   securities, net of
   tax                            --          --     (32,381)       (32,381)

Total comprehensive
   income

Common stock issued           37,054          --          --         37,124

Common stock rights
   awarded in lieu of
   directors' cash
   compensation               18.500          --          --         18,500

Purchases of treasury
   stock                          --          --          --        (32,786)
                           ---------    --------    --------    -----------

Balance at December 31,
   1999                    9,659,555   1,754,815     (73,368)    11,313,432

Net income                        --     410,458          --        410,458

Net change in
   unrealized
   appreciation on
   available-for-sale
   securities, net of
   tax                            --          --      28,684         28,684

Total comprehensive
   income

Common stock issued        1,365,287          --          --      1,367,738

Common stock rights
   awarded in lieu of
   directors' cash
   compensation               20,150          --          --         20,150

Purchase of ESOP shares           --          --          --     (1,350,000)

Purchases of treasury
   stock                          --          --          --       (123,623)

ESOP shares allocated          9,209          --          --         69,470
                         -----------   ---------   ---------     ----------
Balance at December  31,
   2000                   11,054,201   2,165,273     (44,684)    11,736,309

Net income                        --   1,379,053         --       1,379,053

Net change in
   unrealized
   appreciation on
   available-for-sale
   securities, net of
   tax                            --          --     116,561        116,561

Total comprehensive
   income

Common stock issued           28,622          --          --         28,687

Common stock rights
   awarded in lieu of
   directors' cash
   compensation               37,350          --          --         37,350

Purchases of treasury
   stock                          --          --          --        (73,262)

ESOP shares allocated         37,722          --          --        277,461
                         -----------   ---------   ---------   ------------

Balance at December      $11,157,895  $3,544,326   $  71,877   $ 13,502,159
                         ===========   =========   =========   ============
</Table>

   The accompanying notes are an integral part of these consolidated financial
                                   statements.

                                       F-6
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

<Table>
<Caption>
                                                                                     Years ended December 31
                                                                    ---------------------------------------------------------
                                                                          2001                2000                1999
                                                                    -----------------   ----------------   -----------------
<S>                                                                 <C>                 <C>                 <C>
Cash flows from operating activities:
   Net income                                                       $      1,379,053    $        410,458    $      1,398,214
   Adjustments to reconcile net income to cash provided
    by operating activities:
     Depreciation                                                            407,664             448,813             338,118
     Deferred income taxes                                                    28,602             206,449            (241,834)
     Provision for loan losses                                               449,354             199,378             323,820
     Amortization of premiums on investment securities                        84,789              71,400             110,814
     Amortization of loan premiums, discounts and
       deferred fees, net                                                    181,267             126,065              59,500
     Amortization of organizational costs                                         --                  --             115,162
     Amortization of goodwill                                                145,661             145,067              24,056
     Non-cash ESOP contribution                                              277,461              69,470                  --
     Gains on sale of securities                                                  --                  --            (739,475)
     Gains on sale of loans                                                 (417,066)           (251,363)           (296,853)
     Proceeds from sales of loans held-for-sale                           24,471,091          11,811,842          19,375,329
     Originations of loans held-for-sale                                 (24,267,564)        (12,203,007)        (18,508,724)
     Common stock rights awarded in lieu of directors
       compensation                                                           37,350              20,150              18,500
     (Gain) loss on foreclosed real estate                                     2,533              (1,806)             15,242
     (Gain) loss on disposition of assets                                    (11,447)              4,791              (5,944)
     Net increase in accrued interest receivable and
       other assets                                                         (205,414)           (226,180)           (674,810)
     Increase (decrease) in accrued interest and other
       liabilities                                                          (158,079)            270,161              40,082
                                                                    ----------------    ----------------    ----------------

       Net cash provided by operating activities                           2,405,255           1,101,688           1,351,197
                                                                    ----------------    ----------------    ----------------

Cash flows from investing activities:

   Purchases of available-for-sale securities                             (3,555,000)                 --                  --
   Proceeds from maturities and principal repayments of
     available-for-sale securities                                         2,449,393           1,475,846           2,186,035
   Purchases of held-to-maturity securities                                       --          (2,191,887)         (2,200,000)
   Proceeds from maturities and principal repayments of
     held-to-maturity securities                                           2,867,409           2,935,486           2,831,162
   Proceeds from sales of available-for-sale-securities                           --                  --             746,409
   Net (increase) decrease in certificates of deposit                      2,998,000           1,296,000          (2,502,000)
   Net increase in loans                                                 (22,716,955)        (16,068,996)        (13,793,812)
   Proceeds from sales of foreclosed real estate                                  --             478,179             263,436
   Proceeds from sales of equipment                                               --                  --               8,000
   Purchases of premises and equipment                                      (583,652)         (1,493,795)           (326,622)
   Net cash received in branch acquisition                                        --                  --          19,355,057
                                                                    ----------------    ----------------    ----------------

       Net cash (used in) provided by investing activities               (18,540,805)        (13,569,167)          6,567,665
                                                                    ----------------    ----------------    ----------------

Cash flows from financing activities:
   Net increase (decrease) in deposits                                     9,644,032          14,796,228          (6,457,168)
   Net increase (decrease) in other borrowed funds                         6,000,000          (4,300,000)          1,500,000
   Net increase (decrease) in advance payments by
     borrowers for taxes and insurance                                       149,891              57,917            (262,148)
   Repayment of employee stock ownership plan-note
     payable                                                                (147,973)            (60,261)                 --
   Issuance of trust preferred security-note payable                       4,000,000                  --                  --
   Purchase of treasury stock                                                (73,262)           (123,623)            (32,786)
   Proceeds from issuance of common stock                                     28,687           1,367,738              37,124
   Cash dividend                                                                  --                  --             (61,844)
                                                                    ----------------    ----------------    ----------------
       Net cash provided by (used in) financing activities                19,601,375          11,737,999          (5,276,822)
                                                                    ----------------    ----------------    ----------------

Increase (decrease) in cash and cash equivalents                           3,465,825            (729,480)          2,642,040
Cash and cash equivalents at beginning of year                             7,145,268           7,874,748           5,232,708
                                                                    ----------------    ----------------    ----------------

Cash and cash equivalents at end of year                            $     10,611,093    $      7,145,268    $      7,874,748
                                                                    ================    ================    ================
</Table>

                                   (Continued)

                                       F-7
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (CONTINUED)

<Table>
<Caption>
                                                                                       Years ended December 31
                                                                      ---------------------------------------------------------
                                                                            2001               2000                 1999
                                                                      -----------------  ------------------  ------------------
<S>                                                                   <C>                <C>                 <C>
Supplemental disclosures of cash flow information:
  Cash paid during the year for:
     Interest                                                         $      6,243,960   $      5,633,390    $      4,809,055
     Income taxes                                                                  150              5,000              25,000
  Supplemental disclosure of non-cash investing and
    financing activities
     Real estate acquired in settlement of loans                               356,959            513,092             589,519
     Loans to facilitate the sale of real estate owned                              --             72,172             279,800
     Non-cash transfer of investment security pursuant to FASB 133           1,607,997
</Table>

   The accompanying notes are an integral part of these consolidated financial
                                  statements.

                                       F-8
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                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION, PRINCIPLES OF CONSOLIDATION AND USE OF ESTIMATES - Access
Anytime Bancorp, Inc. (the "Company") is a thrift holding company for its
wholly-owned subsidiary FirstBank (the "Bank") and the Bank's wholly-owned
subsidiary, First Equity Development Corporation ("FEDCO"). The consolidated
financial statements include the accounts and transactions of the Company, the
Bank and FEDCO. All significant intercompany accounts and transactions have been
eliminated in consolidation.

The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenses
during the reporting period. Actual results could differ from those estimates.

CASH AND CASH EQUIVALENTS - Cash and cash equivalents include cash, due from
banks and all certificates of deposit with original maturities of three months
or less. There are no amounts subject to withdrawal or usage restrictions.

SECURITIES AVAILABLE-FOR-SALE - Securities to be held for indefinite periods of
time and not intended to be held-to-maturity are classified as
available-for-sale. Assets included in this category are those assets that
management intends to use as part of its asset/liability management strategy and
that may be sold in response to changes in liquidity needs, interest rates,
resultant prepayment risk, and other factors related to interest rate and
resultant prepayment risk changes. Securities available-for-sale are recorded at
fair value. Both unrealized gains and losses on securities available-for-sale,
net of taxes, are included as a separate component of accumulated other
comprehensive income (loss) in the consolidated statements of financial
condition until these gains or losses are realized. Gains and losses are
determined using the specific-identification method. If a security has a decline
in fair value that is other than temporary, the security is written down to its
fair value by recording a loss in the consolidated statements of operations.

SECURITIES HELD-TO-MATURITY - Securities for which the Bank has the positive
intent and ability to hold to maturity are reported at cost, adjusted for
premiums and discounts that are recognized in interest income using the interest
method over the period to maturity. If a security has a decline in fair value
below its amortized cost that is other than temporary, the security is written
down to its new cost basis by recording a loss in the consolidated statements of
operations. The Bank has not experienced a permanent decline on securities that
would result in a charge to operations.

LOANS HELD-FOR-SALE - Loans to be held for indefinite periods of time and not
intended to be held-to-maturity are classified as held-for-sale. Loans
held-for-sale are recorded at the lower of amortized cost or fair value with
only net unrealized losses included in the consolidated statements of
operations.

                                   (Continued)

                                       F-9
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                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

FEDERAL HOME LOAN BANK (FHLB) STOCK - This asset is owned due to regulatory
requirements and is carried at cost. This stock is pledged as collateral to
secure FHLB advances.

LOANS RECEIVABLE - Loans receivable that management has the intent and ability
to hold for the foreseeable future or until maturity or pay-off are reported at
their outstanding principal adjusted for any unearned discount, the allowance
for loan losses and any deferred fees or costs on originated loans.

Unearned discount on installment loans is recognized as income over terms which
approximate the interest method. Interest on other loans is recognized using the
simple-interest method on the daily balances of the principal amounts
outstanding.

The accrual of interest on impaired loans is discontinued when, in management's
opinion, the borrower may be unable to meet payments as they become due. When
interest accrual is discontinued, all unpaid accrued interest is reversed. If
the ultimate collectibility of principal, wholly or partially, is in doubt, any
payment received on a loan on which the accrual of interest has been suspended
is applied to reduce principal to the extent necessary to eliminate such doubt.
Otherwise, interest income is recognized for such payments.

Loan origination fees and direct origination costs are deferred and recognized
as an adjustment of the yield of the related loan.

The Bank defines a loan as impaired when, based on current information and
events, it is probable that the Bank will be unable to collect all amounts due
according to the contractual terms of the loan agreement. The Bank uses the same
criteria in placing a loan on nonaccrual status, exclusive of residential
mortgage loans and consumer loans which are placed on nonaccrual status when
they become 90 days past due. When interest accrual is discontinued, all unpaid
accrued interest is reversed. Interest income is subsequently recognized only to
the extent cash payments are received.

The allowance for loan losses is increased by charges to income and decreased by
revisions in the estimate of the necessary allowance and by charge-offs (net of
recoveries). Management's periodic evaluation of the adequacy of the allowance
is based on the Bank's past loan loss experience, known and inherent risks in
the portfolio, adverse situations that may affect the borrower's ability to
repay, the estimated value of any underlying collateral, and current economic
conditions.

LOAN SERVICING - The cost of mortgage servicing rights is amortized in
proportion to, and over the period of, estimated net servicing revenues.
Impairment of mortgage servicing rights is assessed based on the fair value of
those rights. Fair values are estimated using discounted cash flows based on a
current market interest rate. For purposes of measuring impairment, the rights
are stratified based on the predominant risk characteristics of the underlying
loans. The amount of impairment recognized is the amount by which the
capitalized mortgage servicing rights for a stratum exceed their fair value.

                                   (Continued)

                                      F-10
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                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

For originated mortgage servicing rights, the Bank allocates the total cost of
the mortgage loans to the mortgage servicing rights and the loans (without the
mortgage servicing rights) based on their relative fair values. Fair values are
based on quoted market prices in active markets for loans and loan servicing
rights. For purchased mortgage servicing rights, the cost of acquiring loan
servicing contracts is capitalized to the extent such costs do not exceed the
amount by which the present value of estimated future servicing revenue exceeds
the present value of expected future servicing costs.

PREMISES AND EQUIPMENT - Land is carried at cost. Premises and equipment are
carried at cost, less accumulated depreciation computed by the straight-line
method over the estimated useful life of the assets. Maintenance and repairs are
charged to expense as incurred and improvements are capitalized.

FORECLOSED REAL ESTATE - Real estate properties acquired through foreclosure, or
in lieu of foreclosure, are to be sold and are initially recorded at fair value
at the date of foreclosure establishing a new cost basis. Any excess of the loan
balance and foreclosure costs over the fair value at the date of foreclosure is
charged to the allowance for loan losses. After foreclosure, valuations are
periodically performed by management and the real estate is carried at the lower
of carrying amount or fair value less cost to sell. Revenue and expenses from
operations and changes in the valuation allowance are included in real estate
operations, net.

ORGANIZATIONAL COSTS - Effective January 1, 1999, the Company adopted the
provisions of Statement of Position ("SOP") No. 98-5, REPORTING ON THE COSTS OF
START-UP ACTIVITIES issued by the American Institute of Certified Public
Accountants ("AICPA"). This statement requires costs of start-up activities and
organizational costs to be expensed as incurred and its provisions are
retroactive upon adoption of the SOP. All remaining unamortized organizational
costs were charged to expense in the first quarter of 1999.

GOODWILL - The excess of the net liabilities assumed in connection with the
acquisition of certain branches during 1999 and direct acquisition costs over
the net cash acquired in the assumption of the branches' deposits has been
included in the consolidated financial statements as goodwill and is being
amortized on a straight-line basis over the estimated life of the core deposits
acquired.

In June 2001, the FASB issued Statement No. 142 (Statement 142), GOODWILL AND
OTHER INTANGIBLE ASSETS, which replaces APB Opinion No. 17, INTANGIBLE ASSETS.
The Company implemented Statement 142 on January 1, 2002. Goodwill is no longer
amortized under Statement 142 but will be tested and written down based on
goodwill impairment.

STOCK-BASED COMPENSATION - The Company applies Accounting Principles Board
Opinion No. 25, ACCOUNTING FOR STOCK ISSUED TO EMPLOYEES (APB 25) and related
interpretations in accounting for its stock-based compensation plans.

Under Statement No. 123, the Company may elect to recognize stock-based
compensation expense based on the fair value of the awards or continue to
account for stock-based compensation under APB 25. The Company has elected to
continue to apply the measurement provisions of APB 25.

                                   (Continued)

                                      F-11
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                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

INCOME TAXES - The Company utilizes the liability method of accounting for
income taxes, whereby deferred income taxes are recognized for the tax
consequences in future years of differences in the tax bases of assets and
liabilities and their financial reporting amounts based on enacted tax laws and
statutory tax rates applicable to the periods in which the differences are
expected to affect taxable income. Valuation allowances are established, if
necessary, to reduce deferred tax assets to the amount expected to be realized.

NET INCOME PER SHARE - Basic earnings per share has been computed on the basis
of the weighted-average number of shares of common stock outstanding during the
period. Diluted earnings per share reflects the potential dilution that would
have occurred if stock options and other contingently issuable shares of common
stock had been issued during the period.

IMPACT OF NEW ACCOUNTING STANDARDS - In June 1998, the Financial Accounting
Standards Board ("FASB") issued Statement No. 133 ("Statement 133"), ACCOUNTING
FOR DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES. In June 1999, the FASB issued
Statement No. 137, DEFERRAL OF THE EFFECTIVE DATE OF FASB STATEMENT NO. 133,
which deferred the effective date of Statement 133 to no later than January 1,
2001 for the Company's consolidated financial statements. Statement 133 requires
companies to record derivatives on the statement of financial conditions at fair
value. Changes in the fair values of those derivatives would be reported in
earnings or other comprehensive income depending on the use of the derivative
and whether it qualifies for hedge accounting. The key criterion for hedge
accounting is that the hedging relationship must be highly effective in
achieving offsetting changes in fair value of assets or liabilities or cash
flows from forecasted transactions. In June 2000, the FASB issued Statement No.
138, ACCOUNTING FOR CERTAIN DERIVATIVE INSTRUMENTS AND CERTAIN HEDGING
ACTIVITIES, an amendment of FASB Statement 133. The Company implemented
Statement 133 on January 1, 2001 and this implementation did not materially
impact the Company's consolidated financial statements.

In September 2000, the FASB issued Statement No. 140 (Statement 140), ACCOUNTING
FOR THE TRANSFERS AND SERVICING OF FINANCIAL ASSETS AND EXTINGUISHMENTS OF
LIABILITIES, which replaces Statement No. 125 (of the same title). Statement 140
revises certain standards in the accounting for securitizations and other
transfers of financial assets and collateral, and requires some disclosures
relating to securitization transactions and collateral, but it carries over most
of Statement 125's provisions. The collateral and disclosure provisions of
Statement 140 were effective for year-end 2000 financial statements. The other
provisions of this Statement were effective for transfers and servicing of
financial assets and extinguishment of liabilities occurring after March 31,
2001. The adoption of this standard did not have a material impact to the
Company.

In June 2001, the Financial Accounting Standards Board issued Statement No. 141
("Statement 141"), BUSINESS COMBINATIONS, and Statement No. 142 ("Statement
142"), GOODWILL AND OTHER INTANGIBLE ASSETS. Statement 141 required that the
purchase method of accounting be used for all business combinations initiated
after June 30, 2001 as well as all purchase method business combinations
completed after June 30, 2001. Statement 141 also specifies criteria that
intangible assets acquired in a purchase method business combination must meet
to be recognized and reported apart from goodwill. Statement 142 requires that
goodwill and intangible assets with indefinite useful lives no longer be
amortized, but instead tested for impairment at least annually in accordance
with the provisions of Statement 142. Statement 142 requires that intangible
assets with definite useful lives be amortized over their respective estimated
useful lives to their estimated residual values, and reviewed for impairment in
accordance with the Financial Accounting Standards Board's Statement No. 121
("Statement 121"), ACCOUNTING FOR THE IMPAIRMENT OF LONG-LIVED ASSETS AND FOR
LONG-LIVED ASSETS TO BE DISPOSED OF.

                                   (Continued)

                                      F-12
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                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Financial Accounting Standards Board's Statement No. 144, ACCOUNTING FOR THE
IMPAIRMENT OR DISPOSAL OF LONG-LIVE ASSETS supercedes Statement 121 and is
effective for fiscal years beginning after December 15, 2001.

The Company adopted the provisions of Statement 141 as of July 1, 2001 and
Statement 142 on January 1, 2002. The adoption of Statement 141 did not have any
impact on the Company's consolidated financial statements.

Statement 141 requires upon adoption of Statement 142, that the Company evaluate
its existing intangible assets and goodwill that were acquired in a prior
purchase business combination, and to make any necessary reclassifications in
order to conform with the new criteria in Statement 141 for recognition apart
from goodwill. Upon adoption of Statement 142, the Company is required to
reassess the useful lives and residual values of all intangible assets acquired
in purchase business combinations, and make any necessary amortization period
adjustments by the end of the first interim period after adoption. In addition,
to the extent an intangible asset is identified as having an indefinite useful
life, the Company is required to test the intangible asset for impairment in
accordance with the provisions of Statement 142 within the first interim period.
Any impairment loss will be measured as of the date of adoption and recognized
as the cumulative effect of a change in accounting principle in the first
interim period.

In connection with the transitional goodwill impairment evaluation, Statement
142 requires the Company to perform an assessment of whether there is an
indication that goodwill is impaired as of the date of adoption. To accomplish
this the Company must identify its reporting units and determine the carrying
value of each reporting unit by assigning the assets and liabilities, including
the existing goodwill and intangible assets, to those reporting units as of the
date of adoption. The Company will have up to six months from the date of
adoption to determine the fair value of each reporting unit and compare it to
the reporting unit's carrying amount. To the extent a reporting unit's carrying
amount exceeds its fair value, an indication exists such that reporting unit's
goodwill may be impaired and the Company must perform the second step of the
transitional impairment test. In the second step, the Company must compare the
implied fair value of the reporting unit's goodwill, determined by allocating
the reporting unit's fair value to all of its assets (recognized and
unrecognized) and liabilities in a manner similar to a purchase price allocation
in accordance with Statement 141, to its carrying amount, both of which would be
measured as of the date of adoption. This second step is required to be
completed as soon as possible, but no later than the end of the year of
adoption. Any transitional impairment loss will be recognized as the cumulative
effect of a change in accounting principle in the Company's consolidated
statements operations.

The Company adopted Statement 142 as of January 1, 2002 and will no longer
amortize goodwill. As of the date of the adoption, the Company had unamortized
goodwill in the amount of approximately $1.87 million which is subject to the
transition provisions of Statements 141 and 142. Amortization expense related to
goodwill was $145,661, $145,067 and $24,056 for the years ended December 31,
2001, 2000, and 1999, respectively. Because of the extensive effort needed to
comply with adopting Statements 141 and 142, it is not practicable to reasonably
estimate the impact of adopting the Statements on the Company's financial
statements at the date of this report, including whether it will be required to
recognize any transitional impairment losses as the cumulative effect of a
change in accounting principle.

                                   (Continued)

                                      F-13
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                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

In August 2001, the FASB issued Statement No. 144 (Statement 144), ACCOUNTING
FOR THE IMPAIRMENT OF DISPOSAL OF LONG-LIVED ASSETS, which supersedes FASB
Statement No. 121, ACCOUNTING FOR THE IMPAIRMENT OF LONG-LIVED ASSETS AND FOR
LONG-LIVED ASSETS TO BE DISPOSED OF. Statement 144 addresses financial
accounting and reporting for the impairment or disposal of long-lived assets.
The provisions of the statement are effective for financial statements issued
for fiscal years beginning after December 15, 2001, and interim periods within
those fiscal years. The Company adopted Statement 144 on January 1, 2002 and
this adoption had no impact the Company's consolidated financial statements.

RECLASSIFICATIONS - Certain amounts for prior years have been reclassified to
conform with the current year presentation. These reclassifications had no
effect on net income or stockholders' equity.

                                   (Continued)

                                      F-14
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                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 2 ACQUISITION OF BRANCHES

On November 5, 1999, the Bank acquired certain assets of two branches of Bank of
Albuquerque, N.A. ("BOA"), a wholly-owned subsidiary of BOK Financial
Corporation, for the assumption of deposits and related liabilities of the
branches. The acquisition was accounted for as a purchase and the results of
operations of the branches are included in the consolidated statements of
operations from the date of acquisition.

The fair values of assets acquired, liabilities assumed and cash paid less cash
acquired were as follows:

<Table>
<S>                                                                    <C>
Deposits and liabilities assumed                                       $      23,891,756
Less assets acquired:
   Loans receivable, net                                                       2,266,733
   Premises and equipment                                                        111,050
                                                                       -----------------
     Net liabilities assumed                                           $      21,513,973
                                                                       =================

Net liabilities assumed                                                $      21,513,973
Less cash paid for deposits and other direct acquisition costs                 2,158,916
                                                                       -----------------
     Net cash acquired in assumption of branch deposits                $      19,355,057
                                                                       =================
</Table>

The deposit premium and direct acquisition costs have been amortized using the
straight-line method over the estimated remaining life of the core deposits
acquired. However, the Company implemented SFAS 142 on January 1, 2002, which
provides that goodwill no longer be amortized but written down based on
impairment.

                                   (Continued)

                                      F-15
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                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 3 SECURITIES

Securities have been classified in the consolidated statements of financial
condition according to management's intent. The carrying amounts of securities
and their approximate fair values at December 31 follow:

<Table>
<Caption>
                                                    Amortized                 Gross unrealized                   Fair
                                                       Cost               Gains              Losses             Value
                                                 -----------------  ------------------  -----------------  -----------------
AVAILABLE-FOR-SALE SECURITIES:

<S>                                              <C>                <C>                 <C>                <C>
   December 31, 2001:
     Mortgage-backed securities:
       GNMA adjustable rate                      $       5,529,599  $         41,514    $          13,603  $      5,557,510
       GNMA fixed rate                                   4,135,930            68,244                   --         4,204,174
     Equity securities:
       FNMA common stock                                     6,858             1,139                   --             7,997
     Trust preferred securities                            655,000            22,500                   --           677,500
                                                 -----------------  ----------------    -----------------  ----------------
                                                 $      10,327,387  $        133,397    $          13,603  $     10,447,181
                                                 =================  ================    =================  ================
    December 31, 2000:
     Mortgage-backed securities:
       GNMA adjustable rate                      $       7,699,556  $          2,564    $          71,597  $      7,630,523
     Equity securities:
       FNMA common stock                                     6,858             1,330                   --             8,188
                                                 -----------------  ------------------  -----------------  -----------------
                                                 $       7,706,414  $          3,894    $          71,597  $      7,638,711
                                                 =================  ==================  =================  =================

<Caption>
                                                    Amortized                 Gross unrealized                   Fair
                                                       Cost               Gains              Losses             Value
                                                 -----------------  ------------------  -----------------  -----------------
HELD-TO-MATURITY SECURITIES:

<S>                                              <C>                <C>                 <C>                <C>
   December 31, 2001:
     Mortgage-backed securities:
       FHLMC adjustable rate                     $         615,153  $           2,260   $              --  $         617,413
     Corporate bonds                                       696,044             22,426               4,195            714,275
     Trust preferred securities                            300,000             18,100                  --            318,100
                                                 -----------------  ------------------  -----------------  -----------------

                                                 $       1,611,197  $          42,786   $           4,195  $       1,649,788
                                                 =================  ==================  =================  =================

   December 31, 2000:
     Mortgage-backed securities:                 $         130,362  $              --   $             886  $         129,476
       FNMA participation certificates                     972,584                 --               6,786            965,798
       FHLMC participation certificates                  1,656,109             43,745                  --          1,699,854
       FHLMC adjustable rate                               838,859                 --              14,618            824,241
     US government agency bonds                          1,000,000              3,780                  --          1,003,780
     Corporate bonds                                     1,192,847              6,497                 659          1,198,685
     Trust preferred securities                            300,000                 --              11,000            289,000
                                                 -----------------  ------------------  -----------------  -----------------

                                                 $       6,090,761  $          54,022   $          33,949  $       6,110,834
                                                 =================  ==================  =================  =================
</Table>

                                   (Continued)

                                      F-16
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                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 3 SECURITIES (CONTINUED)

The scheduled maturities of securities available-for-sale and held-to-maturity
at December 31, 2001 were as follows:

<Table>
<Caption>
                                                    Available-for-sale securities:         Held-to-maturity securities:
                                                 ------------------------------------   ------------------------------------
                                                    Amortized             Fair             Amortized             Fair
                                                       Cost               Value               Cost              Value
                                                 -----------------  -----------------   -----------------  -----------------
<S>                                              <C>                <C>                 <C>                <C>
Due in one year or less                          $              --  $              --   $         399,013  $         412,765
Due from one to five years                                      --                 --             297,031            301,510
Due from five to ten years                                      --                 --                  --                 --
Due after ten years                                     10,327,387         10,447,181             915,153            935,513
                                                 -----------------  -----------------   -----------------  -----------------

                                                 $      10,327,387  $      10,447,181   $       1,611,197  $       1,649,788
                                                 =================  =================   =================  =================
</Table>

For purposes of the maturity table, mortgage-backed securities, which are not
due at a single maturity date, have been allocated over maturity groupings based
on the weighted-average contractual maturities of underlying collateral. The
underlying principal on mortgage-backed securities may be recovered earlier than
their scheduled contractual maturities because of principal prepayments.

Securities of $8,214,282 and $10,868,621 were pledged to secure public deposits
and for other purposes required or permitted by law at December 31, 2001 and
2000, respectively. A transfer of $1,607,997 of securities held-to-maturity to
securities available-for-sale was made on January 1, 2001, upon adoption of FASB
133.

NOTE 4 LOANS HELD-FOR-SALE

The carrying amount of loans held-for-sale and their estimated fair value, as
determined on an aggregate basis, at December 31, follows:

<Table>
<Caption>
                                                                     Gross unrealized
                                                        --------------------------------------------
      December 31               Amortized cost                Gains                    Losses                 Fair value
------------------------      -------------------       -------------------      -------------------      -------------------
<S>                           <C>                       <C>                      <C>                      <C>
         2001                 $       1,034,719         $          21,231        $              --        $       1,055,950
         2000                           821,180                    23,678                       --                  844,858
</Table>

Proceeds from sale of loans held-for-sale were $24,471,091, $11,811,842 and
$19,375,329 for the years ended December 31, 2001, 2000 and 1999, respectively.
Gains of $418,205 and losses of $1,139 were recognized in 2001, gains of
$259,165 and losses of $7,802 were recognized in 2000, while gains of $302,701
and losses of $5,848 were recognized in 1999.

From time to time, the Bank has had greater amounts of public funds. The amount
of public funds held by the Bank at December 31, 2001 and 2000 was $8,402,922
and $11,725,261, respectively. The Bank is required to pledge collateral or a
letter of credit from FHLB for such funds. At December 31, 2001, the Bank has
issued $4,000,000 in letters of credit relating to public funds.

                                   (Continued)

                                      F-17
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                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 5 LOANS RECEIVABLE

The components of loans in the consolidated statements of financial condition
were as follows:

<Table>
<Caption>
                                                                                                   December 31
                                                                                      ------------------------------------
                                                                                            2001                2000
                                                                                      -----------------  -----------------
<S>                                                                                   <C>                <C>
First mortgage loans:
   Conventional                                                                       $      67,661,640  $      61,062,423
   FHA insured and VA guaranteed                                                              9,381,090          7,720,504
   Commercial real estate loans                                                              28,671,294         25,144,372
Commercial loans, other than mortgage                                                         9,259,407          6,958,873
Consumer and installment loans                                                               20,907,241         14,018,066
Construction loans                                                                            3,363,911          1,721,472
Other                                                                                         5,448,069          4,928,708
                                                                                      -----------------  -----------------

                                                                                            144,692,652        121,554,418

Less:
   Loans in process                                                                           1,390,710            502,152
   Unearned discounts, deferred loan fees, and other                                          1,072,602            891,337
   Allowance for loan losses                                                                    744,987            681,486
                                                                                      -----------------  -----------------

                                                                                      $     141,484,353  $     119,479,443
                                                                                      =================  =================
</Table>

An analysis of the changes in allowance for loan losses follows:

<Table>
<Caption>
                                                                                    Years ended December 31
                                                                    --------------------------------------------------------
                                                                          2001                2000               1999
                                                                    ----------------    ----------------   ----------------
<S>                                                                 <C>                 <C>                <C>
Balance at beginning of year                                        $        681,486    $        864,317   $        600,984

Loans charged-off                                                           (442,827)           (150,873)          (341,775)
Recoveries                                                                    56,974              18,664             31,288
                                                                    ----------------    ----------------   ----------------

       Net loans charged-off                                                (385,853)           (132,209)          (310,487)
Provision for loan losses charged to operations                              449,354             199,378            323,820
Acquired reserve                                                                  --            (250,000)           250,000
                                                                    ----------------    ----------------   ----------------

Balance at end of year                                              $        744,987    $        681,486   $        864,317
                                                                    ================    ================   ================
</Table>

FirstBank maintains a high concentration of its loan portfolio in the New Mexico
and Texas portion of the United States which could lead to additional credit
risk.

An analysis of the changes of loans to directors, executive officers, and major
stockholders follows:

<Table>
<Caption>
                                                                                    Years ended December 31
                                                                    -------------------------------------------------------
                                                                          2001                2000               1999
                                                                    ----------------    ----------------   ----------------
<S>                                                                 <C>                 <C>                <C>
Balance at beginning of year                                        $      1,279,920    $      1,300,285   $      2,272,616
Loans originated                                                             474,735              98,114            217,074
Loan principal payments and other reductions                                (324,965)           (118,479)        (1,189,405)
                                                                    ----------------    ----------------   ----------------

Balance at end of year                                              $      1,429,690    $      1,279,920   $      1,300,285
                                                                    ================    ================   ================
</Table>

                                   (Continued)

                                      F-18
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 5 LOANS RECEIVABLE (CONTINUED)

The Bank had outstanding commitments to originate real estate loans at December
31, 2001 and 2000 of approximately $1,229,000 and $497,000, respectively.

The following table summarizes impaired loan information:

<Table>
<Caption>
                                                                                     Years ended December 31
                                                                    --------------------------------------------------------
                                                                           2001                2000               1999
                                                                    -----------------    -----------------  ----------------
<S>                                                                 <C>                  <C>                <C>
Recorded investment in impaired loans                               $       1,439,032    $         888,204  $        314,050
Average recorded investment in impaired loans                               1,163,618              601,127           598,132
Interest income lost on impaired loans                                         10,776                   --                --
FASB 114 allowance on impaired loans                                          188,333                   --                --
</Table>

The Bank is not committed to lend additional funds to borrowers with
non-performing or renegotiated loans.

NOTE 6 PREMISES AND EQUIPMENT

Components of premises and equipment included in the consolidated statements of
financial condition at December 31, 2001 and 2000 were as follows:

<Table>
<Caption>
                                                                                            2001                2000
                                                                                      -----------------  -----------------
<S>                                                                                   <C>                <C>
Cost:
   Land                                                                               $         964,393  $         907,593
   Bank premises                                                                              3,242,250          2,888,805
   Furniture and equipment                                                                    2,129,632          1,982,758
   Automobiles                                                                                  108,811            101,076
                                                                                      -----------------  -----------------

       Total cost                                                                             6,445,086          5,880,232
Less accumulated depreciation                                                                 2,744,757          2,367,338
                                                                                      -----------------  -----------------

       Net book value                                                                 $       3,700,329  $       3,512,894
                                                                                      =================  =================
</Table>

Certain Bank facilities and equipment are leased under various operating leases.
Rental expense was $64,235 in 2001, $86,048 in 2000, and $27,893 in 1999.

Future minimum rental commitments under noncancelable leases are:

<Table>
                  <S>                                                                 <C>
                  2001                                                                $           3,600
                  2002                                                                            3,600
                  2003                                                                            3,600
                  2004                                                                            1,800
                  2005                                                                               --
                                                                                      -----------------

                                                                                      $          12,600
                                                                                      =================
</Table>

                                   (Continued)

                                      F-19
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 7 LOAN SERVICING

Mortgage loans serviced for others are not included in the accompanying
consolidated statements of financial condition. The Bank sold loans totaling
approximately $0 and $377,000 and retained the servicing on such loans during
2001 and 2000, respectively. The unpaid balances of loans serviced for others at
December 31 are summarized as follows:

<Table>
<Caption>
                                                                          2001                2000               1999
                                                                    -----------------   -----------------  -----------------
<S>                                                                 <C>                 <C>                <C>
  Mortgage loan portfolios serviced for FNMA                        $       5,600,379   $       6,618,588  $       7,313,948
                                                                    -----------------   -----------------  -----------------

                                                                    $       5,600,379   $       6,618,588  $       7,313,948
                                                                    =================   =================  =================
</Table>

Custodial escrow balances maintained in connection with loan servicing were
$55,883 and $36,552 at December 31, 2001 and 2000, respectively.

Mortgage servicing rights retained on loans sold of $0 and $5,197 were
capitalized in 2001 and 2000, respectively.

NOTE 8 CONCENTRATION OF CREDIT RISK

The Bank invests available funds in mortgage-backed securities and
interest-bearing deposits and maintains funds in other depository institutions,
including the FHLB of Dallas. Generally, the Bank's investments in equity
securities and mortgage-backed securities are recorded in book entry form only,
and the Bank does not take possession of the actual investment certificates. The
Bank's investment in interest-bearing deposits, excluding those with the FHLB of
Dallas, is limited to amounts covered by applicable Federal Deposit Insurance
Corporation (FDIC) limits.

The Bank has five full service bank locations in Albuquerque, Clovis, Gallup,
and Portales, New Mexico. The Bank's primary service area includes the New
Mexico counties of Bernalillo, Cibola, Curry, De Baca, Los Alamos, McKinley,
Roosevelt, Sandoval, Santa Fe, Torrance, Valencia, and the Texas counties of
Parmer and Bailey.

The Bank has historically been a major lender of mortgage loans in the Eastern
New Mexico area and is dedicated to the promotion of thrift through the
solicitation of savings accounts. The Bank's five offices primarily service the
Bernalillo, Curry, McKinley, and Roosevelt counties of New Mexico and the
adjoining West Texas counties. The Bank offers a comprehensive range of credit
and depository services, while conducting business in a manner based on
financial stability, service, and community involvement.

The Bank grants consumer, commercial business, commercial real estate, and
residential loans to customers in its trade area. Generally, the loans are
secured by real estate; however, the Bank does make consumer loans and
commercial loans. The loans are expected to be repaid from the cash flow of the
borrowers. Although the Bank has a diversified loan portfolio, a substantial
portion of its debtors' ability to honor their contracts is dependent upon the
general economic conditions of the region.

                                   (Continued)

                                      F-20
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 8 CONCENTRATION OF CREDIT RISK (CONTINUED)

The Bank's collateral policy is to secure all real estate loans by mortgages,
place first liens on available assets underlying commercial loans, and perfect
purchase money liens on consumer loan products. The Bank grants unsecured loans
to its customers.

NOTE 9 DEPOSITS

The composition of deposits and the effective rates of interest at December 31
were as follows:

<Table>
<Caption>
                                                                                              2001               2000
                                                                                        -----------------  -----------------
<S>                                                                                     <C>                <C>
Checking accounts - noninterest bearing                                                 $      10,081,246  $      11,029,685
Savings accounts (2001 - 0.80%; 2000 - 1.50%)                                                   5,735,404          6,075,206
Insured Money Market accounts (2001 - 0.70%-2.70%; 2000 - 2.15%-5.85%)                         27,097,143         22,298,360
Transaction accounts (2001 - .01%-1.25%; 2000 -.01%-2.60%)                                      8,986,804          8,630,020
Time deposits:
   1.01% - 2.00%                                                                                  731,819                 --
   2.01% - 3.00%                                                                                9,211,583            247,677
   3.01% - 4:00%                                                                               35,867,376            314,807
   4.01% - 5.00%                                                                               26,342,956         14,123,747
   5.01% - 6.00%                                                                               17,787,838         40,374,835
   6.01% - 7.00%                                                                                4,919,091         34,022,891
   7.01% - 8.00%                                                                                  158,738            158,738
                                                                                        -----------------  -----------------

                                                                                        $     146,919,998  $     137,275,966
                                                                                        =================  =================
</Table>

At December 31, 2001, the scheduled maturities of time deposits were as follows:

<Table>
<Caption>
                                                                                             Amount        Percent of total
                                                                                        -----------------  ----------------
<S>                                                                                     <C>                         <C>
2002                                                                                    $      71,169,251            74.8%
2003                                                                                           18,967,918            20.0
2004                                                                                            2,919,689             3.1
2005                                                                                              821,844             0.9
2006                                                                                            1,140,699             1.2
                                                                                        -----------------  ----------------

                                                                                        $      95,019,401           100.0%
                                                                                        =================  ================
</Table>

At December 31, 2001 and 2000, individual time deposits in excess of $100,000
amounted to $19,902,914 and $19,281,628, respectively.

                                   (Continued)

                                      F-21
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 9 DEPOSITS (CONTINUED)

Interest expense on deposits for the years ended December 31 was as follows:

<Table>
<Caption>
                                       2001                2000               1999
                                 ----------------    ----------------   ----------------
<S>                              <C>                 <C>                <C>
Savings accounts                 $         59,100    $        110,047   $        134,674
Money Market accounts                     728,846             807,683            732,901
Transaction accounts                       50,295              82,236             62,440
Time deposits                           4,895,137           4,154,945          3,398,004
                                 ----------------    ----------------   ----------------

                                 $      5,733,378    $      5,154,911   $      4,328,019
                                 ================    ================   ================
</Table>

At December 31, 2001 and 2000, the Bank had accrued interest payable on time
deposits totaling $87,797 and $246,347, respectively. The weighted average
interest rate on deposits was 4.02%, 4.10%, and 3.96% for the years ended
December 31, 2001, 2000 and 1999, respectively.

NOTE 10 OTHER BORROWED FUNDS

Each FHLB is authorized to make advances to its members, subject to such
regulations and limitations as the FHLB may prescribe. At December 31, 2001 and
2000, advances from FHLB of $8,750,000 and $2,750,000, respectively, were
collateralized by mortgage loans held by the Bank. The Bank is also required to
maintain stock ownership in the FHLB of at least a minimum percentage of its
loans. At December 31, 2001, the Bank's investment in stock of the FHLB was
adequate.

At December 31, 2001 and 2000, the Company had lines of credit totaling $400,000
and $200,000 respectively, from other banks. Borrowings outstanding under these
arrangements were $0 and $200,000 at December 31, 2001 and 2000, respectively.
The lines of credit bear market rates of interest and borrowings thereunder are
to be used for general Company purposes. One of the borrowing arrangements at
December 31, 2001 matured at January 24, 2002, which has been renewed for a
year. The other borrowing arrangement matures in September 20, 2002.

On July 17, 2001, the Company issued $4 million of 10.25% Fixed Rate Capital
Trust Pass-through Securities of Access Anytime Capital Trust I with a
liquidation value of $1,000 per share to mature 30 years from the date of
issuance. The Company then invested approximately $2.9 million of the net
proceeds in the Bank to increase its capital levels.

                                   (Continued)

                                      F-22
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 11 INCOME TAXES

Income tax expense consisted of the following:

<Table>
<Caption>
                                                                          2001                2000               1999
                                                                    --------------      ---------------    ---------------
<S>                                                                 <C>                 <C>                <C>
Federal                                                             $       23,340      $         5,426    $         4,385
State                                                                          250                  150                150
Deferred                                                                    45,892              205,873           (246,369)
                                                                    --------------      ---------------    ---------------

Total income tax expense/(benefit)                                  $       69,482      $       211,449    $      (241,834)
                                                                    ==============      ===============    ===============
</Table>

Actual income tax expense differs from the "expected" tax expense (computed at
the Federal Statutory corporate tax rate of 34 percent) as follows:

<Table>
<Caption>
                                                                          2001                2000               1999
                                                                    --------------      ---------------    ---------------
<S>                                                                 <C>                 <C>                <C>
Computed "expected" tax expense                                     $      492,502      $       211,449    $       393,169
Increase (reduction) in income taxes resulting from:
  Current state tax                                                         57,422                   --                 --
  Permanent differences                                                      1,313                   --                 --
  Change in Valuation Allowance                                           (481,755)                  --           (241,799)
  Other                                                                         --                   --           (393,204)
                                                                    --------------      ---------------    ---------------

Total tax expense/(benefit)                                         $       69,482      $       211,449    $      (241,834)
                                                                    ==============      ===============    ===============
</Table>

                                   (Continued)

                                      F-23
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 11 INCOME TAXES (CONTINUED)

The significant components of deferred income tax expense assets and liabilities
are as follows:

<Table>
<Caption>
                                                                                              2001               2000
                                                                                        ---------------    ---------------
<S>                                                                                     <C>                <C>
Deferred tax assets:
Allowance for loan losses                                                               $       246,556    $       187,075
  Unearned discounts                                                                             11,974             11,364
  Net intangibles                                                                                 3,503                 --
  Net operating loss - federal                                                                  798,346          1,313,216
  Net operating loss - state                                                                  1,267,156          1,171,036
  Other                                                                                          60,926             22,073
  State taxes                                                                                        --            199,871
  Credits                                                                                       138,422            119,858
  Investments                                                                                        --             23,018
                                                                                        ---------------    ---------------
Gross deferred tax assets                                                                     2,526,883          3,047,511
Net valuation allowance                                                                      (1,009,010)        (1,490,765)
                                                                                        ---------------    ---------------
Net deferred tax assets                                                                       1,517,873          1,556,746
                                                                                        ---------------    ---------------
Deferred tax liabilities

Investments                                                                                     (47,918)                --
Depreciation                                                                                   (271,900)          (245,987)
  FHLB Stock                                                                                   (211,980)          (166,719)
  Originated mortgage servicing rights                                                          (13,468)           (19,956)
  Other                                                                                              --            (11,209)
                                                                                        ---------------    ---------------
Gross deferred tax liabilities                                                                 (545,266)          (443,871)
                                                                                        ---------------    ---------------

Net deferred tax asset                                                                  $       972,607    $     1,112,875
                                                                                        ===============    ===============
</Table>

The decrease in the valuation allowances during the three years ended December
31, 2001, 2000, and 1999 was due to a re-evaluation of the realizability of the
state net operating loss carry forwards and AMT credit carry forwards. As of
December 31, 2001, the Company had a total New Mexico net operating loss of
$21,119,266. The loss may not be carried back, and will expire per the following
table below. Due to the uncertainty of the realization of the state net
operating loss, the Company has established a valuation allowance of
approximately $1.0 million as of December 31, 2001 and $1.5 million as of
December 31, 2000. In assessing the realizability of the remaining deferred tax
assets, management considered projected taxable income and tax planning
strategies. Based on the Company's historical taxable transactions, the timing
of the reversal of existing temporary differences, and the evaluation of tax
planning strategies, management believes it is more likely than not that the
Company's future taxable income will be sufficient to realize the benefit of the
remaining deferred tax assets existing at December 31, 2001 and 2000,
respectively.

Expiration of State Net Operating Loss Carryforwards are as follows:

<Table>
                  <S>                                         <C>
                  2002                                        $       3,630,857
                  2003                                                6,118,655
                  2004                                                6,282,431
                  2005                                                5,087,323
                                                              -----------------
     Total State Net Operating Loss Carryforwards             $      21,119,266
                                                              =================
</Table>

                                   (Continued)

                                       F-24
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 12 REGULATORY MATTERS

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

In accordance with Office of Thrift Supervision ("OTS") regulations, the Bank
must have: (1) core capital equal to 4% of adjusted total assets; (2) tangible
capital equal to 1.5% of adjusted total assets; and (3) total capital equal to
8.0% of risk-weighted assets, which includes off-statement of financial
condition items.

The following table is a reconciliation of the Bank's capital for regulatory
purposes at December 31, 2001 as reported to the OTS.

<Table>
<Caption>
                                                                         Tier 1-            Tier 1-             Total
                                                                          Core             Risk-based         Risk-based
                                                                         Capital            Capital            Capital
                                                                    ----------------    ---------------    ---------------
<S>                                                                 <C>                 <C>                <C>
Total regulatory assets                                             $    174,829,063
Net unrealized appreciation on
   available-for-sale securities, net                                        (63,957)
Less intangible assets disallowed for
   regulatory purposes                                                    (2,165,908)
                                                                    ----------------

Adjusted regulatory total assets                                    $    172,599,198
                                                                    ================

Risk-based assets                                                                       $   124,977,000    $   124,977,000
                                                                                        ===============    ===============

Stockholders' equity                                                $     18,041,205    $    18,041,205    $    18,041,205
Net unrealized appreciation on
   available-for-sale securities, net                                        (63,957)           (63,957)           (63,957)
General valuation allowance                                                       --                 --            744,987
Less intangible assets disallowed for
regulatory purposes                                                       (2,165,908)        (2,165,908)        (2,165,908)
                                                                    ----------------    ---------------    ---------------

Regulatory capital                                                        15,811,340         15,811,340         16,556,327
Regulatory capital required to be "well capitalized"                       8,629,960          7,498,620         12,497,700
                                                                    ----------------    ---------------    ---------------

Excess regulatory capital                                           $      7,181,380    $     8,312,720    $     4,058,627
                                                                    ================    ===============    ===============

Bank's capital to adjusted regulatory assets                                    9.16%
                                                                    ================

Bank's capital to risk-based assets                                                               12.65%             13.25%
                                                                                        ===============    ===============
</Table>

                                   (Continued)

                                      F-25
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 12 REGULATORY MATTERS (CONTINUED)

The most recent notification from the OTS categorized the Bank as "well
capitalized" under the regulatory framework for prompt corrective action. To
remain categorized as "well capitalized", the Bank would have to maintain
minimum total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as
disclosed in the table below. There are no conditions or events since the most
recent notification that management believes have changed the Bank's prompt
corrective action category.

<Table>
<Caption>
                                                                                                   To Be Well Capitalized
                                                                        For Capital                Under Prompt Corrective
                                          Actual                     Adequacy Purposes                Action Provisions
                               ------------------------------  -------------------------------  ------------------------------

At December 31, 2001:             Amount           Ratio          Amount            Ratio          Amount           Ratio
-----------------------------  --------------  --------------  --------------   --------------  --------------  --------------
<S>                            <C>                 <C>         <C>                   <C>        <C>                <C>
Total Capital
  (to risk weighted assets)    $  16,556,327       13.25%      $   9,998,160         8.00%      $  12,497,700      10.00%
Tier 1 Capital
  (to risk weighted assets)       15,811,340       12.65%          4,999,080         4.00%          7,498,620       6.00%
Tier 1 Capital
  (to regulatory assets)          15,811,340        9.16%          6,903,680         4.00%          8,629,960       5.00%

<Caption>
At December 31, 2000:
-----------------------------
<S>                            <C>                 <C>         <C>                   <C>        <C>                <C>
Total Capital
  (to risk weighted assets)    $  11,632,524       11.42%      $   8,150,800         8.00%      $  10,188,500      10.00%
Tier 1 Capital
  (to risk weighted assets)       10,951,038       10.75%          4,075,400         4.00%          6,113,100       6.00%
Tier 1 Capital
  (to regulatory assets)          10,951,038        7.21%          6,072,948         4.00%          7,591,185       5.00%
</Table>

OTS regulations impose various restrictions on the Bank with respect to its
ability to pay dividends to the Company.

                                   (Continued)

                                      F-26
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 13 COMMON STOCK, STOCK OPTION PLANS AND DIRECTOR RETAINER PLAN

No cash dividends were declared or paid in 2001 or 2000.

Under the 1986 Stock Option and Incentive Plan ("1986 Plan"), as amended, the
Bank could grant Incentive and Non-Incentive Stock Options, as well as Stock
Appreciation Rights ("SARs"), to officers, directors, key employees and other
persons up to a maximum of 68,250 shares of the Bank's common stock. The 1986
Plan was administered by a committee of the Board of Directors and was
terminated in August 1996. Under the provisions of the 1986 Plan, stock options
had terms that were determined by the committee, but not to exceed ten years
from the date of grant. However, in the case of optionees who owned in excess of
10% of the outstanding common stock of the Bank, the term of the stock option
could not exceed five years. The aggregate fair market value of the options for
which any persons could be granted in any calendar year could not exceed
$100,000. During 1997, 544 shares of common stock were issued in connection with
exercises of stock options awarded under this plan, with proceeds to the Company
of $2,992. During 1998, 12,519 shares of common stock were issued in connection
with exercise of options awarded under this plan with proceeds to the Company of
$68,855. After the 1998 exercises, there were no remaining options outstanding
under the 1986 Plan.

In 1997, the stockholders approved the 1997 Stock Option and Incentive Plan
("1997 Plan") to provide a means for the Company to attract and retain officers,
directors and employees. Under the terms of the 1997 Plan, the aggregate number
of shares of stock to be issued pursuant to the exercise of all options granted
under the 1997 Plan may not exceed 183,600. No options may be granted under the
1997 Plan after ten years from the date of the adoption of the 1997 Plan. In
addition, the 1997 Plan provides for the granting of Stock Appreciation Rights
("SARs"). During 1997, options to purchase 165,240 shares were granted, all of
which were immediately exercisable. No options were awarded under the 1997 Plan
during 1998. During 1999, options to purchase 12,000 shares were granted, all of
which were immediately exercisable. During 2000, options to purchase 4,000
shares were granted all of which were immediately exercisable. No options were
awarded under the 1997 plan in 2001. No SARs have been awarded as of December
31, 2001. During 1998, 7,100 shares of common stock were issued in connection
with exercise of options under the 1997 Plan with proceeds to the Company of
$39,938. During 1999, 6,600 shares of common stock were issued in connection
with exercise of options under the 1997 Plan with proceeds to the Company of
$37,124. During 2000, 5,100 shares of common stock were issued in connection
with exercise of options under the 1997 Plan with proceeds to the Company of
$28,687. During 2001, 5,100 shares of common stock were issued in connection
with exercise of options under the 1997 Plan with proceeds to the Company of
$28,687. Previously awarded stock options under the 1997 Plan to purchase 4,080
shares were forfeited during 1999, leaving these shares available for
reissuance. Previously awarded stock options under the 1997 Plan to purchase
4,080 shares were forfeited during 2001, leaving those shares available for
reissuance. At December 31, 2001, options to purchase 10,520 shares of the
Company's common stock were available for issuance under the 1997 Plan.

                                   (Continued)

                                      F-27
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 13 COMMON STOCK, STOCK OPTION PLANS AND DIRECTOR RETAINER PLAN
        (CONTINUED)

A summary of the status of the Company's stock options as of December 31, 2001,
2000 and 1999, and the changes for the years then ended is presented below:

<Table>
<Caption>
                                                                    For the year ended December
                                  --------------------------------------------------------------------------------------------
                                                2001                            2000                            1999
                                  -------------------------------  ------------------------------  ---------------------------
                                                    Weighted                        Weighted                        Weighted
                                                     Average                         Average                         Average
                                                    Exercise                        Exercise                        Exercise
                                      Shares          Price           Shares           Price           Shares          Price

<S>                                    <C>        <C>                 <C>         <C>                  <C>        <C>
Options outstanding,
   beginning of year                   158,360    $     7.042         159,460     $     6.981          158,140    $     6.902
Granted                                     --             --           4,000           7.680           12,000          7.750
Exercised                               (5,100)         5.625          (5,100)          5.625           (6,600)         5.625
Expired                                 (4,080)         8.375              --              --           (4,080)         8.375
                                  -------------                    ----------                      -----------

Options outstanding, end
  of year                              149,180    $     7.054         158,360     $     7.042          159,460    $     6.981
                                  =============   ===========      ==========     ===========      ===========    ===========
Weighted average fair
  market value of options
  granted during the year                         $        --                     $     3.450                     $     4.480
                                                  ===========                     ===========                     ===========
</Table>

The following table summarizes information about options outstanding as of
December 31, 2001:

<Table>
<Caption>
                                                             Options Outstanding and Exercisable
                                  ------------------------------------------------------------------------------------------
                                            Number                   Weighted Average                     Weighted
                                       Outstanding and            Remaining Contractual              Average Exercise
   Range of Exercise Price               Exercisable                 Life (In Years)                       Price
-------------------------------   -------------------------   ------------------------------   -----------------------------
<S>                                           <C>                          <C>                          <C>
$5.625 to $8.375                              149,180                      5.84                         $   7.054
</Table>

The Company accounts for compensation costs incurred in connection with the
granting of stock options using the intrinsic value method prescribed in APB
Opinion No. 25. As such, no compensation expense was recorded in connection with
the awarding of stock options during 2001, 2000, or 1999 as the exercise price
was not below the market price of the Company's common stock at the respective
dates of grant. No options were awarded during 1998. In 1995, the FASB issued
SFAS No. 123, ACCOUNTING FOR STOCK BASED COMPENSATION, which, if fully adopted
by the Company, would have changed the method the Company applies in recognizing
costs associated with the granting of stock options. Adoption of the cost
recognition provisions of SFAS No. 123 was optional and the Company determined
not to elect these provisions. However, pro-forma disclosure of net income and
earnings per share as if the Company adopted the cost recognition provisions of
SFAS No. 123 are required and are presented below.

                                   (Continued)

                                      F-28
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 13 COMMON STOCK, STOCK OPTION PLANS AND DIRECTOR RETAINER PLAN
        (CONTINUED)

No options were granted in 2001. The fair value of each option granted during
2001 and 2000 was estimated on the date of grant using the Black-Scholes
option-pricing model with the following weighted average assumptions:

<Table>
<Caption>
                                                                  2000
                                                            -------------
<S>                                                                <C>
Dividend yield                                                        --%
Expected volatility                                                40.15%
Risk-fee interest rate                                              6.59%
Expected lives (in years)                                              5
</Table>

Had compensation cost for all grants of stock options during 2001, 2000, and
1999 been determined based on the fair value at the date of grant, reported net
income and earnings per share would have been adjusted to the pro-forma amounts
shown below:

<Table>
<Caption>
                                                                          2001                2000               1999
                                                                    -----------------   -----------------  -----------------
<S>                                                                 <C>                 <C>                <C>
Net income
  As reported                                                       $       1,379,053   $         410,458  $       1,398,214
  Pro-forma                                                                 1,379,053             401,353          1,362,050

Earnings per share
  As reported                                                       $            1.05   $            0.33  $            1.13
  Pro-forma                                                                      1.05                0.32               1.10

Earnings per share-assuming dilution
  As reported                                                       $            1.02   $            0.32  $            1.10
  Pro-forma                                                                      1.02                0.32               1.08
</Table>

The Company has adopted the Non-Employee Director Retainer Plan ("Retainer
Plan") which provides for the payment of all or a portion of the directors fees
in shares of common stock of the Company. The number of shares is determined
based on the fair market value of the Company's stock during the month the fee
is payable.

The Retainer Plan defers the recognition of compensation by the directors by
deferring the issuance of common stock to the director until the director leaves
the board. A total of 50,000 shares of common stock have been reserved for
issuance under the Retainer Plan. During 1999, $18,500 of director fees,
representing 2,436 shares of common stock to be issued, were reserved under the
terms of the Retainer Plan. During 2000, $20,150 of directors fees, representing
3,180 shares of common stock to be issued, were reserved under the terms of the
Retainer Plan. During 2001, $37,350 of directors fees, representing 5,253 shares
of common stock to be issued, were reserved under the terms of the Retainer
Plan. As of December 31, 2001, 1,878 of these shares have been issued.

                                   (Continued)

                                      F-29
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 14 EMPLOYEE BENEFIT PLANS

The Company and the Bank have a profit sharing/employee stock ownership plan
("ESOP") for which substantially all employees are eligible. Contributions, when
made, may be made in the form of cash or in common stock of the Company.
Contribution amounts are based upon employee's compensation, but may not exceed
maximum deductible limits for federal income tax purposes. Employer
contributions to the ESOP of $41,300, $24,996, and $21,004, were made in 2001,
2000 and 1999, respectively. The profit sharing plan also includes a 401(k)
before-tax salary deferral feature. Employees may elect to contribute to the
plan and such contributions may be matched by the Bank as a percentage of each
employee's contribution. Employer contributions made to the 401(k) plan for the
years ended December 31, 2001, 2000 and 1999 totaled $17,500, $11,392, and
$17,089, respectively.

During 2000, the ESOP purchased 240,000 shares of previously unissued Company
common stock at $5.625 per share for proceeds to the Company of $1,350,000. This
purchase was facilitated by a loan from an unrelated third party in the amount
of $1,350,000. Debt service on this loan is to be made by Company contributions
to the ESOP. The shares purchased initially were pledged as collateral for this
loan. As the loan is repaid, shares are released from collateral and allocated
to active employees at the rate of 8,000 shares for each quarterly loan payment.
The debt of the ESOP is recorded as debt and the shares pledged as collateral
are deducted from stockholders' equity as unearned ESOP shares in the
accompanying consolidated statements of financial condition.

The loan referred to in the preceding paragraph bears interest at the Wall
Street Journal Prime Rate (4.75% at December 31, 2001) and quarterly principal
and interest payments of $60,000 are required beginning August 1, 2000 and
continuing until maturity on November 1, 2007. Future principal payments are due
as follows based on the interest rate in effect at December 31, 2001:

During the year ended December 31:

<Table>
<S>                                               <C>
2002                                              $     187,969
2003                                                    197,609
2004                                                    207,204
2005                                                    217,460
2006                                                    228,124
Thereafter                                              103,400
                                                  -------------
                                                  $   1,141,766
                                                  =============
</Table>

As shares are released from collateral, the Company reports compensation expense
equal to the current market price of the shares and the shares become
outstanding for earnings-per-share computations. ESOP compensation expense
relative to this release of shares was $277,461 and $69,470 for the years ended
December 31, 2001 and 2000.

                                   (Continued)

                                      F-30
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 14 EMPLOYEE BENEFIT PLANS (CONTINUED)

Shares of the Company's common stock held by the ESOP at December 31, 2001 and
2000 were as follows:

<Table>
<Caption>
                                                  2001            2000
                                             --------------  --------------
<S>                                          <C>             <C>
Allocated shares                                     33,067          28,705
Shares released for allocation                       48,000          16,000
Unearned ESOP shares                                192,000         224,000
                                             --------------  --------------
                                                    273,067         268,705
                                             ==============  ==============

Fair value of unearned shares                $    1,536,000  $    1,344,000
                                             ==============  ==============
</Table>

In June 1998, the Bank established an executive savings plan to provide
additional benefits for select highly compensated management employees of the
Bank as a means for participants to defer a portion of their compensation for
the future. Participants may contribute to the plan a percentage of their basic
compensation varying from 1% to 12%. The Bank may make discretionary matching
contributions to the plan. Salary deferrals and matching contributions, if any,
are funded into a Rabbi Trust which are available to the general creditors of
the Bank and, as a result, are recorded on the books and records of the Company.
Employer contributions made to the executive savings plan for the years ended
December 31, 2001 and 2000, totaled $35,000 and $50,143, respectively. All
salary deferral contributions are invested in the Company's common stock.

NOTE 15 NET INCOME PER SHARE

Basic net income per share has been computed by dividing net income available to
common stockholders for the period by the weighted average number of common
shares outstanding during the period. Diluted net income per share has been
computed by dividing net income available to common stockholders for the period
by the weighted average number of common shares outstanding during the period
adjusted for the assumed exercise of outstanding stock options and other
contingently issuable shares of common stock. Net income for basic and diluted
earnings per share are the same, as there are no contingently issuable shares of
stock whose issuance would have impacted net income.

A reconciliation between basic and diluted weighted average common shares
outstanding follows:

<Table>
<Caption>
                                               2001                2000               1999
                                         ---------------     ---------------    ---------------
<S>                                            <C>                 <C>                <C>
Weighted average common
   shares - Basic*                             1,316,109           1,246,814          1,240,328

Plus effect of dilutive securities:
  Stock Options                                   14,394               8,768             22,763
  Shares held by Rabbi Trust                      27,120              12,611              3,404
                                         ---------------     ---------------    ---------------
Weighted average common
   shares - Assuming Dilution                  1,357,623           1,268,193          1,266,495
                                         ===============     ===============    ===============
</Table>

* Includes shares awarded to directors under the Non-Employee Director Retainer
  Plan

                                   (Continued)

                                      F-31
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 16 FINANCIAL INSTRUMENTS

The Bank is a party to financial instruments with off-statement of financial
condition risk in the normal course of business to meet the financing needs of
its customers and to reduce its own exposure to fluctuation in interest rates.
These financial instruments include commitments to extend credit, standby
letters of credit, and financial guarantees. These instruments involve, to
varying degrees, elements of credit and interest rate risk in excess of the
amount recognized in the consolidated statements of financial condition. The
contract or notional amounts of these instruments reflect the extent of
involvement the Bank has in particular classes of financial instruments. The
Bank uses the same credit policies in making commitments and conditional
obligations as it does for the consolidated statements of financial condition
instruments.

At December 31, 2001, unfunded credit commitments are as follows:

<Table>
        <S>                                               <C>
        Commitments to extend residential loans           $   1,229,469
        Lines of credit                                   $   8,809,070
        Credit cards                                      $   1,827,393
</Table>

Commitments to extend credit are agreements to lend to a customer as long as
there is no violation of any condition established in the contract. Commitments
generally have fixed expiration dates or other termination clauses and may
require payment of a fee. Some of the commitments are expected to expire without
being drawn upon. The total commitment amounts do not necessarily represent
future cash requirements. The Bank evaluates each customer's creditworthiness on
a case-by-case basis. The amount of collateral obtained, if deemed necessary by
the Bank upon extension of credit, is based on management's credit evaluation of
the customers.

Standby letters of credit and financial guarantees written are conditional
commitments issued by the Bank to guarantee the performance of a customer to a
third party. Currently, letters of credit are not extended beyond one year. The
credit risk involved in issuing letters of credit is essentially the same as
that involved in extending loan facilities to customers. The Bank holds
collateral and personal guarantees as deemed necessary. The Bank had $4,000,000
and $0 in standby letters of credit outstanding at December 31, 2001 and 2000,
respectively.

At December 31, 2001, the Bank had no open interest rate swaps, futures,
options, or forward contracts.

At December 31, 2001 and 2000, the Bank had $2,264,188 and $1,318,130,
respectively, of commitments to sell single family residential loans.

                                   (Continued)

                                      F-32
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 16 FINANCIAL INSTRUMENTS (CONTINUED)

SFAS No. 107, DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS, requires
disclosure of fair value information about financial instruments, whether or not
recognized on the consolidated statements of financial condition instruments,
for which it is practicable to estimate that value. Quoted market prices, if
available, are utilized as an estimate of the fair value of financial
instruments. Because no quoted market prices exist for a part of the Bank's
financial instruments, the fair value of such instruments has been derived based
on management's assumptions with respect to future economic conditions, the
amount and timing of future cash flows and estimated discount rates. Different
assumptions could significantly affect these estimates. Accordingly, the
estimates provided herein do not necessarily indicate amounts which could be
realized in a current exchange. Further, as it is management's intent to hold a
portion of its financial instruments to maturity, it is not probable that the
fair values shown below will be realized in a current transaction. In addition,
fair value estimates are based solely on existing off-consolidated statements of
financial condition instruments without attempting to estimate the value of
anticipated future business and the value of assets and liabilities that are not
considered financial instruments. Examples would include portfolios of loans
serviced for others, investments in real estate, premises and equipment, and
deferred tax assets.

Because of the wide range of permissible valuation techniques and the numerous
estimates which must be made, it may be difficult to make reasonable comparisons
of the fair value information to that of other financial institutions. The
aggregate fair value amount should in no way be construed as representative of
the underlying value of the Company and/or the Bank.

The following methods and assumptions were used to estimate the fair value of
each class of financial instruments for which it is practical to estimate that
value:

CASH AND CASH EQUIVALENTS - The carrying amount for cash and cash equivalents
approximates the assets' fair value because of the short maturity of those
instruments.

SECURITIES - The fair value of long-term investments such as corporate bonds,
trust preferred securities and mortgage-backed securities is estimated based on
bid quotations received from securities dealers and the FHLB.

LOANS RECEIVABLE - Fair values are estimated for portfolios of loans with
similar financial characteristics. Mortgage loans are segregated by type,
including but not limited to residential, commercial and construction. Consumer
loans are segregated by type, including but not limited to home improvement
loans, automobile loans, loans secured by deposits and secured and unsecured
personal loans. Each loan category may be segmented, as appropriate, into fixed
and adjustable interest rate terms, ranges of interest rates, performing and
non-performing, and repricing frequency.

For certain homogeneous categories of loans, such as some residential mortgages,
fair value is estimated using the quoted market prices for securities backed by
similar loans, adjusted for differences in loan characteristics. The fair values
of other types of loans are estimated by discounting the future scheduled and
unscheduled cash flows using the current rates at which similar loans would be
made to borrowers with similar credit ratings and for the same remaining
maturities. Unscheduled cash flows take the form of estimated prepayments and
may be based upon historical experience as well as anticipated experience
derived from current and prospective

                                   (Continued)

                                      F-33
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 16 FINANCIAL INSTRUMENTS (CONTINUED)

economic and interest rate environments. For certain types of loans, anticipated
prepayment experience exists in published tables from securities dealers.

The fair value of significant non-performing mortgage loans is based on
estimated value of the collateral. Where appraisals are not available, estimated
cash flows are discounted using a rate commensurate with the credit risk
associated with those cash flows. Assumptions regarding credit risk, cash flows
and discount rates are judgementally determined using available market
information and specific borrower information. The fair value of non-performing
consumer loans is based on historical experience with such loans.

The fair value of loans held-for-sale is estimated based on outstanding
commitments from investors or current market prices for similar loans.

FEDERAL HOME LOAN BANK STOCK - The fair value of stock in the FHLB is estimated
to be equal to its carrying amount given it is not a publicly traded equity
security, it has an adjustable dividend rate, and all transactions in the stock
are executed at the stated par value.

DEPOSITS AND ADVANCES FROM BORROWERS FOR TAXES AND INSURANCE - The fair value of
deposits with no stated maturity, such as interest-bearing or
non-interest-bearing checking accounts, savings accounts, money market accounts
and advances from borrowers for taxes and insurance is equal to the amount
payable upon demand. The fair value of certificates of deposit is based on the
lower of redemption or discounted value of contractual cash flows. Discount
rates for certificates of deposit are estimated using current market rates.

FEDERAL HOME LOAN BANK ADVANCES - The estimated fair value of the FHLB advances
is normally based upon the discounted value of the differences between
contractual interest rates and current market rates for similar agreements.
However, the estimated fair value is the same as the carrying value due to the
short-term nature of the advances.

ESOP NOTE - Effective May 1, 2000, the Company issued and sold 240,000 shares of
Common Stock for cash to its ESOP. The ESOP transaction was facilitated by a
loan in the amount of $1,350,000 to the ESOP from a third party lender. At
December 31, 2001, 192,000 of these shares are unallocated and held as
collateral for the loan. The interest rate on the ESOP note payable is
approximately the same as the fair value interest rate. Therefore, the estimated
fair value is the same as the carrying value.

TRUST PREFERRED SECURITY - On July 17, 2001, the Company issued $4 million of
10.25% Fixed Rate Capital Trust Pass-through Securities of Access Anytime
Capital Trust I with a liquidation value of $1,000 per share to mature 30 years
from the date of issuance. The Company then invested approximately $2.9 million
of the net proceeds in the Bank to increase its capital levels. The interest
rate on the Trust Preferred Security note payable is approximately the same as
the fair value interest rate. Therefore, the estimated fair value is the same as
the carrying value.

                                   (Continued)

                                      F-34
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 16 FINANCIAL INSTRUMENTS (CONTINUED)

OFF-STATEMENT OF FINANCIAL CONDITION FINANCIAL INSTRUMENTS - The fair value of
commitments to extend credit is estimated using the fees currently charged to
enter into similar agreements, taking into account the remaining terms of the
agreements and the present creditworthiness of the counterparties. For
fixed-rate loan commitments, fair value also considers the difference between
current levels of interest rates and the committed rates. The fair value of
guarantees and letters of credit is based on fees currently charged for similar
agreements or on the estimated cost to terminate them or otherwise settle the
obligations with the counterparties at the reporting date.

The fair value of off-statement of financial condition financial instruments is
estimated to equal the carrying amount at December 31, 2001 and 2000.

NON-FINANCIAL INSTRUMENTS - SFAS No. 107 does not permit financial institutions
to take into account the value of long-term relationships with depositors,
commonly known as core deposit intangibles, when estimating the fair value of
deposit liabilities. These intangibles are considered to be separate intangible
assets that are not financial instruments. Nonetheless, financial institutions'
core deposits have typically traded at premiums to their book values under both
historical and current market conditions.

Likewise, SFAS No. 107 does not permit financial institutions to take into
account the value of the cash flows and income stream derived from its portfolio
of loans serviced for others.

The estimated fair values of the Bank's financial instruments are shown below:

<Table>
<Caption>
                                                               December 31, 2001                  December 31, 2000
                                                        --------------------------------   ---------------------------------
                                                        Carrying amount  Estimated fair    Carrying amount     Estimated
                                                                              value                            fair value
                                                        ---------------  ---------------   ---------------   ---------------
                                                                                   (In Thousands)
<S>                                                     <C>              <C>               <C>               <C>
Financial assets:
   Cash and cash equivalents                            $        10,611  $        10,611   $         7,145   $         7,145
   Certificates of deposit                                          798              807             3,796             3,819
   Securities available-for-sale                                 10,447           10,447             7,639             7,639
   Securities held-to-maturity                                    1,611            1,651             6,091             6,111
   Loans held-for-sale                                            1,035            1,056               821               845

   Loans receivable                                             141,484          142,837           119,479           118,278
   Interest receivable                                              856              856             1,048             1,048
   FHLB stock                                                       984              984               945               945

Financial liabilities:
   Deposits                                                     146,920          139,508           137,276           130,045
   Accrued interest and other liabilities                           936              936             1,135             1,135
   Advance payments by borrowers for taxes and
     insurance                                                      308              308               158               158
   FHLB advances                                                  8,750            8,834             2,750             2,748
   ESOP note payable                                              1,142            1,142             1,290             1,290
   Trust preferred security                                       4,000            4,000                --                --
</Table>

The deferred income amounts arising from unrecognized financial instruments are
not significant. Also, these financial instruments have contractual interest
rates at or above current market rates. Therefore, no market value disclosure is
provided for these items.

                                   (Continued)

                                      F-35
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 17 COMMITMENTS AND CONTINGENCIES

The Company and its subsidiary are from time to time parties to various legal
actions arising in the normal course of business. Management believes that there
is no proceeding threatened or pending against the Company or its subsidiary
which, if determined adversely, would have a material adverse effect on the
consolidated financial condition or results of operations of the Company.

                                   (Continued)

                                      F-36
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 18 PARENT COMPANY CONDENSED FINANCIAL STATEMENTS

The following condensed statements of financial condition as of December 31,
2001 and 2000, and the related statements of operations and cash flows for each
of the years in three year period ended December 31, 2001 for the Company should
be read in conjunction with the consolidated financial statements and notes
thereto.

                        STATEMENTS OF FINANCIAL CONDITION

<Table>
<Caption>
                                                                                               December 31
                                                                                    -------------------------------
                                                                                        2001            2000
                                                                                    ---------------   -------------
<S>                                                                                 <C>               <C>
Assets:
   Cash and cash equivalents                                                        $       350,310   $      26,631
   Investment in the Bank                                                                18,041,205      13,460,193
   Securities available-for-sale                                                            180,000              --
   Premises and equipment, net                                                              409,003              --
   Other assets                                                                             162,503           5,957
                                                                                    ---------------   -------------

       Total assets                                                                 $    19,143,021   $  13,492,781
                                                                                    ===============   =============

Liabilities:
   Accounts payable and accrued expenses                                            $       499,096   $      466,733
   Employee Stock Ownership Plan -- Note Payable                                          1,141,766        1,289,739
   Trust Preferred Security -- Note Payable                                               4,000,000               --
                                                                                    ---------------   --------------
       Total liabilities                                                                  5,640,862        1,756,472
                                                                                    ---------------   --------------
 Stockholders' equity:
   Common stock                                                                              14,956           14,891
   Capital in excess of par value                                                        11,157,895       11,054,201
   Retained earnings                                                                      3,544,326        2,165,273
   Accumulated other comprehensive income (loss), net                                        71,877          (44,684)
                                                                                    ---------------   --------------
                                                                                         14,789,054       13,189,681
   Unallocated Employee Stock Ownership Plan shares                                      (1,050,000)      (1,289,739)
   Treasury stock, at cost                                                                 (236,895)        (163,633)
                                                                                    ---------------   --------------
       Total stockholders' equity                                                        13,502,159       11,736,309
                                                                                    ---------------   --------------

       Total liabilities and stockholders' equity                                   $    19,143,021   $   13,492,781
                                                                                    ===============   ==============
</Table>

                                                  STATEMENTS OF OPERATIONS

<Table>
<Caption>
                                                                                    Years ended December 31
                                                                   ------------------------------------------------------
                                                                         2001               2000                 1999
                                                                   ---------------    ---------------     ---------------
<S>                                                                <C>                <C>                 <C>
Equity in income of the Bank                                       $     2,160,925    $       779,818     $     1,691,987
Other income                                                                24,158
Salaries and employee benefits                                            (446,931)          (213,111)           (112,767)
Other expense                                                             (358,949)          (156,249)           (181,006)
Income tax expense                                                            (150)                --                  --
                                                                   ---------------    ---------------     ---------------

       Net income                                                  $     1,379,053    $       410,458     $     1,398,214
                                                                   ===============    ===============     ===============
</Table>

                                   (Continued)

                                      F-37
<Page>

                   ACCESS ANYTIME BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 18 PARENT COMPANY CONDENSED FINANCIAL STATEMENTS (CONTINUED)

                            STATEMENTS OF CASH FLOWS

<Table>
<Caption>
                                                                                  Years ended December 31
                                                                         2001               2000                 1999
                                                                   ---------------    ---------------     ---------------
<S>                                                                <C>                <C>                 <C>
Cash flows from operating activities:
   Net income                                                      $     1,379,053    $       410,458     $     1,398,214
   Adjustments to reconcile net income to cash
     provided by (used in) operating activities:
       Equity in income of the Bank                                     (2,160,925)          (779,818)         (1,691,987)
       Deferred income taxes                                                    --                 --             126,354
       Depreciation                                                          3,497                 --                  --
       Non-cash ESOP compensation expense                                  277,461             69,470                  --
       Amortization of organizational costs                                     --                 --             115,162
       Common stock rights issued in lieu of
         directors compensation                                             37,350             20,150              18,500
       Increase in other assets                                           (148,625)            (3,485)             (2,217)
       Increase in accounts payable and accrued expenses                   283,081            151,317              39,204
                                                                   ---------------    ---------------     ---------------

       Net cash (used in) provided by operating activities                (329,108)          (131,908)              3,230
                                                                   ---------------    ---------------     ---------------

Cash flows from investing activities:
   Capital contribution to the Bank                                             --         (1,350,000)                 --
   Purchases of available-for-sale securities                             (180,000)                --                  --
   Purchases of premises and equipment                                    (412,500)                --                  --
   Investment in the Bank                                               (2,919,447)                --                  --
   Dividend from the Bank                                                  608,000                 --                  --
                                                                   ---------------    ---------------     ---------------

       Net cash used in investing activities                            (2,903,947)        (1,350,000)                 --
                                                                   ---------------    ---------------     ---------------

Cash flows from financing activities:
   (Decrease) increase in payable to Bank                                  (50,718)            50,718                  --
   Borrowed funds on ESOP purchase                                              --          1,350,000                  --
   Purchase of treasury stock                                              (73,262)          (123,623)            (32,786)
   Net proceeds from issuance of common stock                               28,687             17,738              37,124
   Net (decrease) increase in other borrowed funds                        (200,000)           200,000                  --
   Repayment of debt                                                      (147,973)           (60,261)                 --
   Issuance of trust preferred security                                  4,000,000                 --                  --
   Cash dividend                                                                --                 --             (61,844)
                                                                   ---------------    ---------------     ---------------

       Net cash provided by (used in) financing activities               3,556,734          1,434,572             (57,506)
                                                                   ---------------    ---------------     ---------------
Increase (decrease) in cash and cash equivalents                           323,679            (47,336)            (54,276)
Cash and cash equivalents at beginning of year                              26,631             73,967             128,243
                                                                   ---------------    ---------------     ---------------

Cash and cash equivalents at end of year                           $       350,310    $        26,631     $        73,967
                                                                   ===============    ===============     ===============
</Table>

                                      F-38
<Page>

                            GLOSSARY OF CERTAIN TERMS

The following are definitions of certain terms used in this report on Form
10-KSB.

<Table>
<S>                                                                        <C>
AMT.............................................................           Alternative Minimum Tax
ARM.............................................................           Adjustable Rate Mortgage
ATM.............................................................           Automatic Teller Machines
BIF.............................................................           Bank Insurance Fund
CAMELS..........................................................           Capital Adequacy, Asset Quality,
                                                                           Management/Administration, Earnings,
                                                                           Liquidity-Asset/Liability Management, Sensitivity
CD..............................................................           Certificate of Deposit
CRA.............................................................           Community Reinvestment Act
DOT.............................................................           Department of Treasury
FASB............................................................           Financial Accounting Standards Board
FDIC............................................................           Federal Deposit Insurance Corporation
FFIEC...........................................................           Federal Financial Institution Examination
                                                                             Council
FHA.............................................................           Federal Housing Administration
FHLB............................................................           Federal Home Loan Bank
FHLBB...........................................................           Federal Home Loan Bank Board
FHLMC...........................................................           Federal Home Loan Mortgage Corporation
FNMA............................................................           Federal National Mortgage Association
FRB.............................................................           Federal Reserve Bank
GNMA............................................................           Government National Mortgage Association
HOLA............................................................           Home Owners' Loan Act
IRR.............................................................           Interest Rate Risk
NOW.............................................................           Negotiable Order of Withdrawal
NPV.............................................................           Net Present Value
OCC.............................................................           Office of The Comptroller of The Currency
OTS.............................................................           Office of Thrift Supervision
QTL.............................................................           Qualified Thrift Lender
SAIF............................................................           Savings Association Insurance Fund
SBA.............................................................           Small Business Administration
SEC.............................................................           Securities and Exchange Commission
SFAS............................................................           Statement of Financial Accounting Standards
VA..............................................................           Veterans Administration
</Table>

                                       G-1
<Page>

                                INDEX OF EXHIBITS
<Table>
<Caption>
     EXHIBIT NO.                         DESCRIPTION
-------------------     --------------------------------------------------------
 <S>                    <C>
        **2.0           Branch Purchase and Deposit Assumption Agreement dated
                        June 18, 1999 between Bank of Albuquerque, National
                        Association, and FirstBank, a federal savings bank
                        (incorporated by reference from the Company's Form 8-K
                        filed November 19, 1999)

        **2.1           Letter amendment, dated September 30, 1999, to Branch
                        Purchase and Deposit Assumption Agreement dated June 18,
                        1999 between Bank of Albuquerque, National Association,
                        and FirstBank, a federal savings bank (incorporated by
                        reference from the Company's Form 8-K filed November 19,
                        1999)

        **3.1           Certificate of Amendment of Certificate of Incorporation
                        and Certificate of Incorporation of the Company
                        (incorporated by reference from the Company's Quarterly
                        Report on Form 10-QSB for the quarter ended June 30,
                        1997, SEC File No. 0-28894)

        **3.2           Amended Bylaws of the Company (incorporated by reference
                        from the Company's Registration Statement on Form S-8,
                        filed June 2,1997, SEC File No. 333-28215)

       **10.1           Agreement and Plan of Reorganization and Plan of Merger
                        (incorporated by reference from the Company's
                        Registration Statement on Form 8-A, filed October 11,
                        1996, SEC File No. 001-12309)

       **10.3           Profit Sharing and Employee Stock Ownership Plan of
                        FirstBank (incorporated by reference from the Company's
                        December 31, 2000 10-KSB)

      *10.3.1           Amendment Number One to Profit Sharing and Employee
                        Stock Ownership Plan of FirstBank

      *10.3.2           Amendment Number Two to Profit Sharing and Employee
                        Stock Ownership Plan of FirstBank

      *10.3.3           Amendment Number Three to Profit Sharing and Employee
                        Stock Ownership Plan of FirstBank

       **10.4           Agreement for Standby Letter of Credit
                        Advances/Confirmation, Collateral Pledge and Security
                        Agreement with FHLB of Dallas (incorporated by reference
                        from the Company's Registration Statement on Form 8-A,
                        filed October 11, 1996, SEC File No. 001-12309)

 **/***10.6             Employment Agreement with Kenneth J. Huey, Jr.
                        (incorporated by reference from the Company's
                        Registration Statement on Form 8-A, filed October 11,
                        1996, SEC File No. 001-12309)

 **/***10.6.1           Extension of Employment Agreement with Kenneth J. Huey,
                        Jr. dated November 20, 1997 (incorporated by reference
                        from the Company's September 30, 1999 10-QSB)

 **/***10.6.2           Extension of Employment Agreement with Kenneth J. Huey,
                        Jr. dated July 29, 1999 (incorporated by reference from
                        the Company's September 30, 1999 10-QSB)

 **/***10.6.3           Extension of Employment Agreement with Kenneth J. Huey,
                        Jr. dated August 23, 2001 (incorporated by reference
                        from the Company's September 30, 2001 10-QSB)

 **/***10.7             Employment Agreement with Norman R. Corzine
                        (incorporated by reference from the Company's 1996
                        10-KSB)

 **/***10.7.1           Extension of Employment Agreement with Norman R. Corzine
                        dated November 20, 1997 (incorporated by reference from
                        the Company's September 30, 1999 10-QSB)

 **/***10.7.2           Extension of Employment Agreement with Norman R. Corzine
                        dated July 29, 1999 (incorporated by reference from the
                        Company's September 30, 1999 10-QSB)

 **/***10.7.3           Extension of Employment Agreement with Norman R. Corzine
                        dated August 23, 2001 (incorporated by reference from
                        the Company's September 30, 2001 10-QSB)

 **/***10.10            Non-Employee Director Retainer Plan (incorporated by
                        reference from the Company's Registration Statement on
                        Form S-8, filed June 2, 1997, SEC File No. 333-28217)

 **/***10.10.1          Amendment Number One to Non-Employee Director Retainer
                        Plan dated April 26, 2001 (incorporated by reference
                        from the Company's June 30, 2001 10-QSB)

 **/***10.11            1997 Stock Option and Incentive Plan (incorporated by
                        reference from the Company's Registration Statement on
                        Form S-8, filed June 2, 1997, SEC File No. 333-28215)

 **/***10.12            Nonqualified 401(K) Rabbi Trust for an Executive Savings
                        Plan dated June 1, 1998 (incorporated by reference from
                        the Company's September 30, 1999 10-QSB)
</Table>

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<Table>
<Caption>
     EXHIBIT NO.                         DESCRIPTION
-------------------     --------------------------------------------------------
 <S>                    <C>
 **/***10.12.1          Amendment Number One to Nonqualified 401(K) Rabbi Trust
                        for an Executive Savings Plan dated June 1, 1998
                        (incorporated by reference from the Company's September
                        30, 1999 10-QSB)

       **16.1           Letter from the certifying accountants required by
                        Regulation S-B, Item 304(a)(3) (incorporated by
                        reference from the Company's December 31, 2000 10-KSB)

          *21           Subsidiaries of the Small Business Issuer

        *23.1           Consent of Independent Accountants from Robinson
                        Burdette Seright & Burrows, L.L.P.

        *23.2           Consent of Independent Auditors from KPMG LLP
</Table>

      * Filed herewith
     ** Previously filed
    *** Designates each management contract or compensatory plan or arrangement
        required to be identified pursuant to Item 13(a) of Form 10-KSB.