<PAGE>

                            WEST TOWN BANCORP, INC.
                                 ANNUAL REPORT


                                MARCH 31, 2000
<PAGE>

                               TABLE OF CONTENTS

<TABLE>
<S>                                                                          <C>
Financial Highlights........................................................   2

Letter to Our Stockholders..................................................   3

Directors and Officers......................................................   6

Our Commitment To You.......................................................   7

Selected Financial Data.....................................................  10

Management's Discussion and Analysis of
   Financial Condition and Results of Operations............................  12

Stock Data..................................................................  27

Stockholder Information.....................................................  28

Report of Independent Auditors and Financial
   Statements of West Town Bancorp, Inc. and Subsidiaries................... F-1

Notes to Financial Statements............................................... F-6
</TABLE>

                                       1
<PAGE>

                             FINANCIAL HIGHLIGHTS

                                      At or for the year ended March 31,

(Dollars in Thousands)                   2000         1999        1998
                                         ----         ----        ----
-----------------------------------------------------------------------

FOR THE YEAR:
------------

Net interest income                     $   783         780         746
Net income                                   62         157         142
Return on average equity                   1.48%       3.80%       3.56%
Return on average assets                    .19%       0.52%       0.50%

AT YEAR END:
-----------

Total Assets                            $34,958      30,984      29,546
Loans Receivable, net                    19,633      20,110      18,452
Interest earning assets                  32,383      29,221      27,636
Interest bearing liabilities             30,458      26,430      25,264
Non-performing assets                         0           0          96
Allowance for loan losses                    58          52          46
Book Value Per Share                    $ 19.81       19.08       18.05
-----------------------------------------------------------------------

                                       2
<PAGE>

To Our Shareholders
-------------------

     The management, directors, and employees of West Town Bancorp, Inc. (the
"Company") met the challenges presented by the year's economy and delivered
another year of profitable performance.  Our fiscal year ended March 31, 2000
was our sixth year as a productive public company and our subsidiary West Town
Savings Bank's (the "Bank") seventy-eighth year in the financial services
industry.  Our book value remains at an all-time high.

     Total assets increased to $34,957,885 at March 31, 2000 from $30,983,864 at
March 31, 1999, an increase of $3,974,021. This increase in assets is
attributable to the opening of the Bank's first branch office on January 18,
2000, at 7820 West 26th Street, North Riverside, Illinois.

     The North Riverside office is a fully equipped branch that includes safe
deposit boxes and ATM. Automobile and line of credit loans are being added to
the Bank's loan product menu along with business NOW, money market and statement
savings accounts to our deposit products. Telephone banking will soon become a
reality. This service will enable potential customers to be informed about our
various products and services, as well as keeping existing customers informed
about their current savings and checking account balances, current loan
balances, and current interest rates on savings and loan products and enabling
them to transfer funds between their accounts. Our branch deposits at March 31,
2000 were $3,900,000.

     Shortly after our fiscal year end, the Bank, along with four other local
financial institutions, acquired an interest in Commercial Loan Corporation, Oak
Brook, Illinois ("CLC"). The purpose of CLC is to provide financial institutions
an opportunity to participate in the origination, servicing, sale and purchase
of commercial loans. The commercial loans to be originated by CLC will include,
but not be limited to, commercial real estate loans, secured letters and
operating lines of credit, equipment financing and inventory financing. This
investment allows the Bank the opportunity to broaden its lending capabilities
into commercial loans wherein it can receive higher yields and become less rate
sensitive.

     Net income for fiscal 2000 was $62,036 compared to $157,364 for fiscal
1999. The decrease in net income

                                       3
<PAGE>

was attributable to anticipated branch construction expenses and Y2K costs.
Management believes the North Riverside branch will out perform original
projections and become profitable in 24 months.

     Loans receivable, primarily mortgages, decreased $477,000 to $19,632,826.
However, when combined with mortgage-backed securities, there was a $160,000
increase from March, 1999.

     As of March 31, 2000, the Bank exceeded all regulatory capital standards.
The Bank's regulatory core capital at March 31, 2000 was $3,295,010 or 9.65% of
total assets. The Bank has a regulatory core capital in excess of the regulatory
requirements at March 31, 2000. The Company's stockholders' equity decreased by
$79,178 primarily due to the Company's purchase of treasury stock. These
purchases resulted in a book value per share at March 31, 2000 of $19.81/share
compared to $19.08/share at March 31, 1999.

     The Bank also has a regulatory risk-based capital in excess of the
regulatory requirements at March 31, 2000.

     Although the financial services industry has changed dramatically since the
Bank's beginnings as a local building and loan in 1922, our focus has not.
Safety and security of our customer's funds is our responsibility. Our customers
look to us for guidance and assistance in attaining specific goals, whether
those goals are to purchase a home, secure a comfortable retirement, save for
their children's education; or, now for business and commercial purposes.

     West Town Insurance Agency, Inc. is our full-service insurance agency and
offers all types of insurance to cover consumers' individual insurance needs. In
addition to the usual fire, commercial, general liability, auto and homeowners
coverage, the agency also offers business coverage insurance.

     The directors, officers and employees of the Bank take a very active role
in various community and neighborhood organizations. Holding office on various
boards, and giving of their time and effort to help others, enriches their own
worth. Some of the local organizations the Bank is actively involved in include
the Cicero Chamber of Commerce, the United Way and the Hawthorne Businessmen's
Association. The Bank has, among many others, financially supported the St.
Mary's Social Center, the Boys Club of Cicero, the Town

                                       4
<PAGE>

of Cicero Higher Education Program and the North Riverside Youth Scholarship
Fund.

     I am very proud of the hard work and dedication of all of our employees.
Their efforts make the difference and make West Town Savings Bank what it is
today. The loyalty and support we enjoy as a business is a direct result of the
commitment of our officers, directors and employees.

     Looking to the future, we recognize that the financial services industry is
rapidly changing. We are specialists in the lending field and are dedicated to
retaining that position. Our savings accounts are changing with the needs of the
consumer--competitive rates are what our customers want and will receive; they
deserve it.

     We are prepared to face the challenges ahead of us. We appreciate the trust
and confidence placed in West Town Bancorp and will work to keep your support
while increasing shareholder value.


                                         Sincerely,


                                         /s/ Dennis B. Kosobucki
                                         Dennis B. Kosobucki
                                         Chairman of the Board
                                         and President

                                       5
<PAGE>

                            DIRECTORS AND OFFICERS

                            West Town Bancorp, Inc.
                            West Town Savings Bank


DIRECTORS:
---------

Dennis B. Kosobucki
-------------------
Chairman, President and Chief Executive Officer and Director
West Town Bancorp, Inc. and West Town Savings Bank

Edward J. Hradecky
------------------
Secretary and Director of West Town Bancorp, Inc. and Director
of West Town Savings Bank

John A. Storcel
---------------
Director of West Town Bancorp, Inc. and West Town Savings Bank

James J. Kemp, Jr.
------------------
Director of West Town Bancorp, Inc. and West Town Savings Bank

James Kucharczyk
----------------
Director of West Town Bancorp, Inc. and West Town Savings Bank

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

West Town Bancorp, Inc.                            West Town Savings Bank
     Officers                                           Officers
     --------                                           --------

Dennis B. Kosobucki                                Dennis B. Kosobucki
President and Chief                                President and Chief
Executive Officer                                  Executive Officer

Jeffrey P. Kosobucki                               Jeffrey P. Kosobucki
Vice President,                                    Vice President,
Chief Financial Officer                            Secretary and Chief
and Assistant Secretary                            Financial Officer

Edward J. Hradecky
Secretary

                                       6
<PAGE>

                             OUR COMMITMENT TO YOU

     Since 1922, the Bank's primary mission has been promoting savings and home
ownership through sound financial products and the highest quality and friendly
professional service to our customers. Continuing with its mission, the Bank is
now attracting small businesses to its customer base, through business checking,
money market and statement savings accounts together with various loan products
to assist businesses in their growth and profitability.

     The Bank is positioned to remain strong. Its strong capital position allows
it the flexibility to grow as demand for its product permits. Its capital is
well above regulatory requirements, with core capital to assets of 9.65% (3.0%
required) and risk-based capital to risk-based assets of 23.01% (8.0% required).

     West Town Savings Bank's customers enjoy the advantages of dealing with a
healthy financial institution with resources to meet their needs, and the
friendly, service-minded, highly professional atmosphere of the Bank is
reminiscent of the personal banking environment of earlier days.

     Through its customer base, West Town Savings Bank reinvests in its
community, on a secure and profitable basis, to the benefit of both its
customers and stockholders.

                                       7
<PAGE>

                              PRODUCTS & SERVICES

PRODUCTS OFFERED
----------------

     The Savings Bank offers a full range of consumer and busines products,
including but not limited to:

          .    First and Second Mortgage Loans
          .    Home Improvements and Equity Line of Credit Loans
          .    Auto Loans (Direct Basis)
          .    Credit Cards (Offered through Elan Financial - The Bank will not
                carry the debt as portfolio product)
          .    Loan on Deposit Accounts
          .    Commercial Loans
          .    Savings Accounts - Including Passbooks, Personal and Business
                Statement Savings, Junior Savers and Christmas Clubs
          .    Money Market Accounts - Personal & Business
          .    Checking Accounts - Personal & Business
          .    Certificates of Deposit
          .    IRA Accounts
          .    Travelers Checks, Money Orders & Bank Checks
          .    ATM Cards - Including ATM Machine owned by the Bank for which our
                customer will not be charged to use
          .    Safe Deposit Boxes
          .    Telephone Banking


SERVICES OFFERED
----------------

     Services available include:

          *    Travelers Checks
          *    Cashiers Checks
          *    Free Notary Service
          *    Check cashing (for depositors)
          *    Photocopy
          *    Direct deposit of social security and pension payments
          *    Application Center for Town of Cicero vehicle tags
          *    Sale and redemption of U. S. Savings Bonds
          *    Coin counting for customers


                                FUTURE OUTLOOK

     All the products and services are offered by our consumer oriented
employees who will continue to satisfy both new and current loyal customers. We
believe that this is what it takes to build a financial institution that can
provide expert financial service for customers today and in the future.

                                       8
<PAGE>

                  SELECTED CONSOLIDATED FINANCIAL INFORMATION

<TABLE>
<CAPTION>
                                                               March 31,
                                        ----------------------------------------------------
                                           2000                 1999                  1998
                                                           (in thousands)
                                        ----------------------------------------------------
STATEMENT OF FINANCIAL CONDITION
--------------------------------
<S>                                     <C>                   <C>                    <C>
 Total assets                           $34,958               $30,984                $29,546
 Loans receivable                        19,633                20,110                 18,452
 Mortgage-backed securities               1,576                   938                  1,632
 Investment securities                      435                   447                    777
 Deposits                                30,458                26,430                 25,264
 Total borrowings                             0                     0                      0
 Stockholders' equity                     4,167                 4,246                  4,048


<CAPTION>
                                                         Years Ended March 31,
                                        ----------------------------------------------------
                                           2000                 1999                  1998
                                                           (in thousands)
                                        ----------------------------------------------------

SELECTED OPERATIONS DATA
------------------------
<S>                                     <C>                   <C>                    <C>
 Total interest income                  $ 2,028               $ 2,002                $ 1,914
 Total interest expense                   1,245                 1,222                  1,168
                                        -------               -------                -------

 Net interest income                        783                   780                    746
 Provision for loan losses                    6                     6                      6
                                        -------               -------                -------


 Net interest income after
   provision for loan losses                777                   774                    740
                                        -------               -------                -------

 Loan fees and service charges               13                    10                     12
 Other non-interest income                   37                    37                     27
                                        -------               -------                -------

 Total non-interest income                   50                    47                     39
 Total non-interest expense                 741                   572                    552
 Income tax expense                          24                    92                     85
                                        -------               -------                -------

 Net income                             $    62               $   157                $   142
                                        =======               =======                =======
</TABLE>

                                       9
<PAGE>

<TABLE>
<CAPTION>
                                                             Years Ended March 31,
                                                     ---------------------------------------
                                                       2000            1999            1998
                                                     ---------------------------------------

SELECTED FINANCIAL RATIOS AND
OTHER DATA:
----------
<S>                                                  <C>              <C>             <C>
Performance Ratios:
  Return on assets (ratio of net
    income to average total assets)                     0.19%          0.52%           0.50%

Net interest rate spread information:
  Average during year                                   2.21%          2.18%           2.24%
  End of year                                           1.86%          1.79%           2.14%
  Net interest margin (1)                               2.60%          2.72%           2.76%

Ratio of operating expense to
    average total assets                                2.31%          1.90%           1.93%

Return on stockholders' equity
    (ratio of net income to average equity)             1.48%          3.80%           3.56%

Short-term liquid assets
    to total assets (2)                                31.95%         26.27%          25.99%

Ratio of average interest-
    earning assets to average
    interest-bearing liabilities                        1.09x          1.13x           1.12x

Quality Ratios:
  Non-performing assets to total
    assets at end of year                               0.00%          0.00%           0.33%
  Allowance for loan losses to
    non-performing loans                                  -0-            -0-          48.05%
  Allowance for loan losses
    to total loans                                      0.28%          0.24%           0.24%

  Capital Ratios:
  Stockholders' equity to total
    assets at end of year                              11.92%         13.71%          13.70%
  Average stockholders' equity
    to average assets                                  13.09%         13.75%          13.99%

Number of full service offices                             2              1               1
</TABLE>

(Continued on next page)

                                       10
<PAGE>

                                                   March 31,
                                          --------------------------
                                          2000       1999       1998
                                          --------------------------
Weighted average yield on:
  Loans receivable                        7.38%      7.05%      7.78%
  Mortgage-backed securities              7.24%      6.27%      6.35%
  Investment securities (3)               6.27%      4.94%      4.84%
  Other interest-earning assets           5.78%      4.88%      5.70%
  Combined weighted average yield
    on interest-earning assets            6.83%      6.41%      7.11%
Weighted average rate paid on:
  Savings deposits                        2.50%      2.50%      2.60%
  Certificates                            5.76%      5.28%      5.77%
  NOW and money market accounts           4.05%      1.05%        -0-
  Combined weighted average rate
    paid on interest-bearing
    liabilities                           4.97%      4.62%      4.97%
Spread                                    1.86%      1.79%      2.14%


________________________

(1)  Net interest income dividend by average interest earning assets.
(2)  Short-term liquid assets consist of cash, interest-bearing deposits and
     U.S. Government and agency obligations maturing within one year.
(3)  Includes U.S. Government and agency obligations, FHLB stock and other
     corporate debt securities.

                                       11
<PAGE>

               MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                      CONDITION AND RESULTS OF OPERATIONS

     West Town Bancorp, Inc. (the "Company"), a Delaware corporation, was
organized on May 6, 1994 to acquire all of the capital stock issued by West Town
Savings Bank (the "Bank") upon its conversion from the mutual to stock form of
ownership. On March 1, 1995, the Company sold 221,940 shares of common stock at
$10 per share to depositors, employees, and other investors. Total proceeds from
the conversion in the amount of $1,888,516 (which is net of conversion and
issuance costs of $330,884) was recorded as common stock and additional paid-
in-capital in fiscal year 1995. The Company utilized $944,258 of the net
proceeds to acquire all the capital stock of the Bank.

     Financial statements on a consolidated basis for both the Company and the
Bank are included in the Annual Report. The Company had no material assets or
liabilities until the conversion was completed on March 1, 1995.

     The following table presents the Consolidated Statements of Changes in
Stockholders' Equity for the three years ended March 31, 2000.

                                       12
<PAGE>

          CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
                       THREE YEARS ENDED MARCH 31, 2000

<TABLE>
<CAPTION>
                                                                     Accumulated                  Common      Common
                                             Additional              Other                        Stock       Stock
                                   Common    Paid-In     Retained    Comprehensive    Treasury    Acquired    Awarded
                                   Stock     Capital     Earnings    Income           Stock       by ESOP      by MRP     Total
                                   -------   ---------   ---------   -------------    --------    ---------   --------  ---------
<S>                                <C>       <C>         <C>         <C>              <C>         <C>         <C>       <C>
Balance at March 31, 1997          $ 2,319   1,986,077   2,137,485              -            -     (153,001)    (9,319) 3,963,561
                                   -------   ---------   ---------      ---------     --------    ---------   --------  ---------

Comprehensive income:
 Net income                                                142,177                                                        142,177
                                                           -------                                                       --------

Total comprehensive income                                 142,177                                                        142,177
                                                           -------                                                       --------
Purchase of treasury stock
 (7,625 shares)                                                                        (81,906)                           (81,906)
Amortization of award of
 MRP stock                                                                                                       9,319      9,319
Contribution to fund ESOP loan          -        1,050           -              -            -       13,617          -     14,667
                                   -------   ---------   ---------      ---------     --------    ---------   --------  ---------
Balance at March 31, 1998            2,319   1,987,127   2,279,662              -      (81,906)    (139,384)         -  4,047,818
                                   -------   ---------   ---------      ---------     --------    ---------   --------  ---------

Comprehensive income:
 Net income                                                157,364                                                        157,364
 Other comprehensive income,
  net of tax:
 Unrealized holding gain
  during the year                                                -         44,832                                          44,832
                                                         ---------      ---------                                       ---------
Total comprehensive income                                 157,364         44,832                                         202,196
                                                         ---------      ---------                                       ---------
Purchase of treasury stock
 (1,700 shares)                                                                        (25,300)                           (25,300)
Tax benefit related to
 MRP stock                                       2,730                                                                      2,730
Contribution to fund ESOP loan           -       4,012           -              -            -       14,968          -     18,980
                                    ------   ---------   ---------       --------     --------    ---------   --------  ---------
Balance at March 31, 1999            2,319   1,993,869   2,437,026         44,832     (107,206)    (124,416)         -  4,246,424
                                    ------   ---------   ---------       --------     --------    ---------   --------  ---------

Comprehensive income:
 Net income                                                 62,036                                                         62,036
 Other comprehensive income,
  net of tax:
 Unrealized holding loss
  during the year                                                         (13,609)                                        (13,609)
                                                         ---------       --------                                       ---------
Total comprehensive income                                  62,036        (13,609)                                         48,427
                                                         ---------       --------                                       ---------
Purchase of treasury stock
 (12,241 shares)                                                                      (147,451)                          (147,451)

Contribution to fund ESOP loan                   3,392                                               16,454                19,846
                                    ------   ---------   ---------       --------    ---------    ---------   --------  ---------
Balance at March 31, 2000           $2,319   1,997,261   2,499,062         31,223     (254,657)    (107,962)         -  4,167,246
                                    ======   =========   =========       ========    =========    =========   ========  =========
</TABLE>

                                       13
<PAGE>

                            WEST TOWN SAVINGS BANK
                                 ---GENERAL---

     The Bank was organized in 1922 as an Illinois-chartered mutual savings
and loan association entitled "West Town Building and Loan Association". In
1992, the association converted to an Illinois chartered savings bank and
changed its named to "West Town Savings Bank". The Bank is regulated by the
Office of the Illinois Commissioner for Banks and Real Estate (OCBRE) and its
deposits are insured up to applicable limits under the Savings Association
Insurance Fund ("SAIF") of the Federal Deposit Insurance Corporation ("FDIC").
The Bank is a member of the Federal Home Loan Bank ("FHLB") System.

     The Bank's principal business consists of attracting deposits from the
public and investing those deposits, together with funds generated from
operations, primarily in one-to-four family mortgage loans and some into various
consumer and commercial loans. The Bank's deposit accounts are insured to the
maximum allowable amount by the Federal Deposit Insurance Corporation ("FDIC").

     The Bank's results of operations are dependent primarily on net
interest income, which is the difference between the interest income earned on
its loan, mortgage-backed securities and investment securities portfolios and
its cost of funds, consisting of interest paid on its deposits and borrowings.
The Bank's operating results are also affected, to a lesser degree, on loan
fees, customer service charges and other income. Operating expenses of the Bank
consist of employee compensation and benefits, equipment and occupancy costs,
federal deposit insurance premiums, and other administrative expenses. The
Bank's results of operations are further affected by economic and competitive
conditions, particularly changes in market interest rates, government policies
and actions of regulatory authorities.

                                       14
<PAGE>

                       CONSOLIDATED FINANCIAL CONDITION

     As of March 31, 2000, total assets increased approximately $4,000,000,
or 12.8%, to $34,958,000 from $30,984,000 at March 31, 1999. The increase
primarily resulted from an increase in deposits taken in at the new branch
office, which were used primarily to originate and purchase mortgage loans.

     Net loans receivable decreased in 2000 by $477,000, or 2.4%, as loan
repayments and participation loans sold exceeded purchased loans and loan
originations. During the year ended March 31, 2000, the Bank had loan
originations and purchases of $4,690,000, compared to $9,752,000 for the year
ended March 31, 1999.

     Stockholders' equity decreased approximately $79,000, or 1.9%, for the
year ended March 31, 2000 as compared to March 31, 1999, primarily as a result
of the purchase of treasury stock at a cost of approximately $147,000, and
unrealized losses on securities available for sale, net of income taxes,
totaling approximately $14,000, partially offset by net income for the year of
$62,000.

     The Bank's lending activities have been concentrated primarily in
residential real property secured by first liens on such property. At March 31,
2000 approximately 84.2% of the Bank's loans were secured by one-to-four family
dwellings. In addition, the Bank currently is participating in construction
loans for the purpose of building one-to-four family dwellings. The remaining
loans were secured by commercial real estate and multi-family properties and
savings accounts. The Bank requires collateral on all loans and generally
maintains loan to value ratios on real estate loans no greater than 80%.
Virtually all of the Bank's mortgage loans are geographically located within a
thirty-mile radius of the Bank's main office.

                                       15
<PAGE>

                       CONSOLIDATED NET INTEREST INCOME

     Net interest income increased by $3,000, or .4%, during the year ended
March 31, 2000, as compared to the prior year. The increase in gross interest
income of $26,000 was the result of an increase of approximately $1,415,000 in
average interest earnings assets partially offset by a decrease in the average
yield to 6.74% at March 31, 2000 from 6.98% at March 31, 1999. The increase in
interest expense of $23,000 was attributable to an increase in the average
interest bearing liabilities of approximately $2,003,000 partially offset by a
decrease in the average yield paid on deposits from 4.80% at March 31, 1999 to
4.53% at March 31, 2000.

     Net interest income increased by $34,000 or 4.5%, during the year ended
March 31, 1999 as compared to the prior year. Interest income increased $88,000,
while interest expense increased $54,000. The average interest - earning assets
increased by approximately $1,608,000 while average interest - bearing
liabilities increased by approximately $1,311,000.

                                       16
<PAGE>

The following 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.
All average balances are monthly average balances. Non-accruing loans have been
included in the table as loans carrying a zero yield.

<TABLE>
<CAPTION>
                                                                        YEAR ENDED MARCH 31,
                                 -----------------------------------------------------------------------------------------------
                                                 2000                           1999                             1998
                                 -----------------------------------------------------------------------------------------------

                                 Average       Interest           Average     Interest           Average      Interest
                                 Outstanding   Earned/   Yield/   Outstanding Earned/     Yield  Outstanding  Earned/    Yield
                                 Balance       Paid       Rate    Balance      Paid       Rate   Balance      Paid       Rate
                                 -----------   --------  ------   -----------  --------   -----  -----------  --------   -----
                                  (Dollars in Thousands)          (Dollars in Thousands)         (Dollars in Thousands)
<S>                              <C>           <C>        <C>     <C>          <C>        <C>     <C>          <C>       <C>
Interest-Earning Assets:
  Loans receivable (1)           $    19,576   $  1,448   7.40%   $    19,133  $  1,468   7.67%   $   18,012   $ 1,394    7.74%
  Mortgage-backed
    securities                           695         45   6.47%         1,345        80   5.94%        2,030       126    6.21%
 Investment securities                   200         11   5.50%           360        13   3.63%          777        35    4.50%
 Other interest-earning
    assets                             9,429        511   5.42%         7,653       430   5.62%        6,068       347    5.72%
 FHLB stock                              183         13   7.10%           177        11   6.53%           73        12    6.94%
                                 -----------   --------   ----    -----------  --------   ----    ----------   -------    ----
  Total interest-earning
    assets(1)                         30,083      2,028   6.74%        28,668     2,002   6.98%       27,060     1,914    7.07%
                                               ========   ====                 ========   ====                 =======    ====
  Non-interest-earning
    assets                             1,995                            1,436                          1,491
                                 -----------                      -----------                     ----------
 Total Assets                    $    32,078                      $    30,104                     $   28,551
                                 ===========                      ===========                     ==========

Interest-Bearing Liabilities:
  Savings deposits               $     6,582        148   2.25%   $     6,081       156   2.57%   $    6,651       172    2.59%
 Certificate accounts                 20,372      1,086   5.33%        19,290     1,065   5.52%       17,458       995    5.70%
 Demand deposit and
    money market accounts                523         11   2.10%           103         1   1.28%           54         1    1.85%
                                 -----------   --------   ----    -----------  --------   ----    ----------   -------    ----
   Total interest-bearing
    liabilities                       27,477      1,245   4.53%        25,474     1,222   4.80%       24,163     1,168    4.83%
                                               ========   ====                 ========   ====                 =======    ====
   Non-interest bearing
    liabilities                          403                              490                            393
                                 -----------                      -----------                     ----------
 Total liabilities                    27,880                           25,964                         24,556
 Total Stockholders' Equity            4,198                            4,140                          3,995
                                 -----------                      -----------                     ----------
 Total liabilities and
    Stockholders' Equity         $    32,078                      $    30,194                     $   28,551
                                 ===========                      ===========                     ==========
 Net interest income                           $    783                        $    780                        $   746
                                               ========                        ========                        =======
  Net interest rate
    spread                                                2.21%                           2.18%                           2.24%
                                                          ====                            ====                            ====
  Net earning assets             $     2,606                      $     3,194                     $    2,897
                                 ===========                      ===========                     ==========
  Net yield on average
   interest-earning assets                                2.60%                           2.72%                           2.76%
                                                          ====                            ====                            ====
  Ratio of average interest
    earning assets to
    average interest-bearing
    liabilities                                    1.09x                           1.13x                          1.12x
                                               ========                        ========                        =======
</TABLE>

_________________________________
(1)    Calculated net of deferred loan fees, loan discounts, loans in process
and loss reserves.

                                       17
<PAGE>

                             RATE/VOLUME ANALYSIS


          The following schedule presents the dollar amount of changes in
interest income and interest expense for major components of interest-earning
assets and interest-bearing liabilities. It distinguishes between the increase
related to higher outstanding balances and that due to the unprecedented levels
and 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 allocated proportionately to the change due to
volume and the change due to rate.

<TABLE>
<CAPTION>
                                                                   Year Ended March 31,
                                              ---------------------------------------------------------------------
                                                       1999 v. 2000                      1998 v. 1999
                                              ---------------------------------------------------------------------

                                             Increase                         Increase
                                             (Decrease)                      (Decrease)
                                               Due to                          Due to
                                             ----------                       -------
                                                               Total                         Total
                                                               Increase                      Increase
                                             Volume    Rate    (Decrease)      Volume     Rate    (Decrease)
                                             ------    ----    ----------      ------     ----    ----------
                                                (Dollars in Thousands)             (Dollars in Thousands)
<S>                                          <C>       <C>       <C>           <C>        <C>       <C>
Assets:
Interest-earning assets:
  Loan receivable                            $   33    $  (53)   $   (20)      $   87     $  (13)   $   74
  Mortgage-backed securities                    (40)        5        (35)         (42)        (4)      (46)
  Investment securities                          (6)        4         (2)         (19)        (3)      (22)
  Other interest-earning assets                 100       (19)        81           90         (7)       83
  FHLB stock                                      1         1          2            0         (1)       (1)
                                             ------    ------    -------       ------     ------    ------
Total interest-earning assets                $   88       (62)        26          116        (28)       88
                                             ------    ------    -------       ------     ------    ------

Liabilities and Equity Capital:
Interest-bearing liabilities:
  Savings deposits                           $   12    $  (20)   $    (8)        $(15)      $ (1)     $(16)
  Certificate accounts                           59       (38)        21          102        (32)       70
  Demand deposit and
    money market accounts                         8         2         10            1         (1)        0
                                             ------    ------    -------       ------     -------   ------
  Total interest-bearing
    liabilities                              $   79    $  (56)   $    23         $ 88       $(34)     $ 54
                                             ------    ------    -------       ------     -------   ------

Net interest income:                                             $     3                              $ 34
                                                                 =======                            ======
</TABLE>

                                       18
<PAGE>

                          ASSET/LIABILITY MANAGEMENT

     The matching of assets and liabilities may be analyzed by examining the
extent to which such assets and liabilities are "interest rate sensitive" and by
monitoring an institution's interest rate sensitivity "gap". An asset or
liability is said to be interest rate sensitive within a specific time period if
it will mature or reprice within that time period. The interest rate sensitivity
gap is defined as the difference between the amount of interest-earning assets
anticipated, based upon certain assumptions, to mature or reprice within a
specific time period and the amount of interest-bearing liabilities anticipated,
based upon certain assumptions, to mature or reprice within that time period. A
gap is considered positive when the amount of interest rate sensitive assets
exceeds the amount of interest rate sensitive liabilities. A gap is considered
negative when the amount of interest rate sensitive liabilities exceeds the
amount of interest rate sensitive assets. During a period of rising interest
rates, a negative gap would tend to adversely affect net interest income. During
a period of falling interest rates, a negative gap would tend to result in an
increase in net interest income while a positive gap would tend to adversely
affect net interest income.

     At March 31, 2000, total interest-bearing liabilities maturing,
repricing or repaying within one year exceeded total interest-bearing assets
maturing, repricing, or repaying in the same period by $873,000, representing a
negative one-year gap ratio of 2.55%.

     During periods of rising interest rates, it is expected that the cost of
the Bank's interest- bearing liabilities would rise more quickly than the yield
on its interest-earning assets, which would adversely affect net interest
income. In periods of falling interest rates, the opposite effect on net
interest income is expected. However, heavy prepayments of mortgages could

                                       19
<PAGE>

reduce the positive effect of the falling interest rates. Management believes
that currently the risk of substantial effect of changes in interest rates on
net interest income is minimal due to the positive gap position and also due to
the strong net worth position of the Bank and the excess of its interest-earning
assets over interest-bearing liabilities. Nonetheless, the Bank closely monitors
interest rate risk as such risk relates to management's strategy.

     As part of its Asset/Liability Management strategy, the Bank invests in
mortgage pools and mortgage backed securities to offset unexpected loan
prepayments and to supplement low loan origination volumes. In recent years the
Bank has purchased mortgage pools of loans with maturities or repricing accruing
within a 1 to 7 year period.

     The following table sets forth the scheduled repricing or maturity of
the Bank's assets and liabilities as of March 31, 2000, based on the following
assumptions:

     1.   Fixed-rate certificate accounts will not be withdrawn prior to
          maturity.


     2.   Passbook, Demand Deposit and Money Market Accounts were assumed to
          withdraw at a rate of 10% during the first year, a combined rate of
          20% for years two and three, and 20% for years four and five.

     3.   Adjustable-rate loans and mortgage-backed securities are calculated at
          the earlier of maturity or the contractual repricing date.


     4.   Fixed-rate mortgage loans, other fixed-rate loans and fixed-rate
          mortgage-backed securities are shown on the basis of contractual
          amortization and management's estimate of annual prepayments based
          upon past experience.

     The effect of these assumptions is to quantify the dollar amount of items
that are interest- sensitive and that can be repriced within each of the periods
specified. Such repricing can occur

                                       20
<PAGE>

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 interest rate 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
the current market rates. Management believes these prepayment and erosion rates
represent reasonable estimates based on the Bank's experience and are consistent
with information provided by regulatory agencies.

                                       21
<PAGE>

     The following table sets forth the interest rate sensitivity of the Bank's
assets and liabilities at March 31, 2000 on the basis of prepayments and decay
rates as calculated through historical analysis or as provided by regulatory
agencies.

<TABLE>
<CAPTION>

                                                                           Maturing or Repricing
                                           ---------------------------------------------------------------------------------------
                                           Within             Over 1-3     Over 3-5    Over
                                           One Year           Years        Years       5 Years     Total
                                           Amount             Amount       Amount      Amount      Amount
                                           --------           --------     --------    --------    --------
<S>                                        <C>                <C>          <C>         <C>         <C>
Fixed/Adjustable Rate Mortgage Loans       $  6,898           $  5,665     $  3,590    $  4,890    $ 21,043

Other Loans                                      93                 75           27          22         217

Investment Securities                         9,550                932            0           0      10,482
                                           --------           --------     --------    --------    --------

Total Interest-Earning Assets                16,541              6,672        3,617       4,912      31,742
                                           --------           --------     --------    --------    --------

Savings Deposits                                575              1,150        1,150       2,872       5,747

Certificates                                 16,686              6,220          275           0      23,181

Demand Deposit and Money Market Accounts        153                306          306         769       1,534
                                           --------           --------     --------    --------    --------
Total Interest-Bearing Liabilities           17,414              7,676        1,731       3,641      30,462
                                           --------           --------     --------    --------    --------

Assets Less Liabilities                        (873)            (1,004)       1,886       1,271       1,280

Cumulative Interest-Rate Sensitivity Gap       (873)            (1,877)           9       1,280       1,280

Cumulative Percentage of Assets               (2.55%)            (5.49%)        .01%       3.75%
</TABLE>

                                       22
<PAGE>

                           PROVISION FOR LOAN LOSSES

     The allowance for loan losses is established through a provision for loan
losses based on management's evaluation of the risk inherent in its loan
portfolio and the general economy. Management's evaluation includes a review of
all loans on which full collectibility may not be reasonably assured, the
estimated fair market value of the underlying collateral, economic conditions,
historical loan loss experience and the Bank's internal credit review process.

     The Bank's allowance for general loan losses at March 31, 2000 was $58,171.
In the fiscal year ended March 31, 2000, the Bank provided $6,000 as an
additional allowance for loan losses. At March 31, 2000, the Bank's allowance
for loan losses, as a percentage of total loans outstanding was .28% as compared
to .24% at March 31, 1999.

                                 OTHER INCOME
                                 CONSOLIDATED

     Total other income increased $2,500 to $50,000 during the period ended
March 31, 2000 as compared to the same period for 1999. The increase was
primarily the result of an increase in loan related fees and an increase in the
cash surrender value of officer's life insurance.

     Total other income increased $8,000 to approximately $47,000 in 1999 as
compared to 1998. The increase was primarily the result of an increase in rental
income and an increase in the cash surrender value of officer's life insurance.

                                       23
<PAGE>

                        CONSOLIDATED OPERATING EXPENSES

     Operating expenses increased by $169,000 in fiscal year 2000, as
compared to fiscal 1999. This increase was primarily the result of an increase
in compensation related expenses and occupancy costs and equipment expenses of
$103,000 due mainly to the opening of the North Riverside, Illinois branch site.
As a percentage of average assets, total operating expenses amounted to 2.3% for
2000 and 1.9% in 1999.

     Operating expenses increased by $20,000 in 1999, as compared to 1998. As a
percentage of average assets, total operating expenses amounted to 1.9% for 1999
and 1.9% for 1998.

                                 INCOME TAXES

     The income tax provisions amounted to $24,000, $92,000 and $85,000 during
the fiscal years 2000, 1999 and 1998, respectively, which amounted to effective
tax rates of 28.0%, 36.8% and 37.4% during these respective periods. See
discussion of accounting and income tax issues in Note 12 in Notes to Financial
Statements.

                                       24
<PAGE>

                        LIQUIDITY AND CAPITAL RESOURCES

     The Bank's primary sources of funds are deposits, proceeds from
principal and interest payments on loans, mortgage-backed securities and
investment securities. Should the Bank need additional sources of funds,
borrowing could be utilized from the Federal Home Loan Bank. The Bank has not
utilized borrowed funds in the last five years. While maturities and scheduled
amortization of loans and mortgage-backed securities are a predictable source of
funds, deposit flows and mortgage prepayments are greatly influenced by general
interest rates, economic conditions, and competition.

     The Bank's liquidity, represented by cash equivalents, is a product of its
operating, investing and financing activities. These activities for the years
ended March 31, 2000, 1999 and 1998 are summarized below:

<TABLE>
<CAPTION>
                                                                           Years Ended March 31,
                                                                        --------------------------
                                                                          2000     1999    1998
                                                                          ----     ----    ----
Consolidated Cash Flows                                                   (in thousands)
-----------------------
<S>                                                                    <C>        <C>    <C>
Operating activities

  Net income                                                           $    62    $ 157  $  142

Adjustment to reconcile net income to net cash
  provided by (used in) operating activities                               397      609    (909)
                                                                       -------   ------  ------

Net cash provided by (used in) operating activities                        459      766    (767)
Net cash provided by (used in) investing activities                     (1,304)    (951) (1,657)
Net cash provided by (used in) financing activities                      3,876    1,146   2,358
                                                                       -------   ------  ------
Net increase (decrease) in cash and cash equivalents                     3,031      961     (66)
Cash and cash equivalents at beginning of year                           8,139    7,178   7,244
                                                                       -------   ------  ------
Cash and cash equivalents at end of year                               $11,170   $8,139  $7,178
                                                                       =======   ======  ======
</TABLE>

     The primary investing activity of the Bank is the origination and
purchase of loans and the purchase of mortgage-backed and investment securities.
During the year ended March 31, 2000 the Bank had a net decrease in loans of
approximately $477,000, and for the years ended March 31, 1999 and 1998, the
Bank had a net increase in loans of approximately $1,658,000 and $2,899,000
(after principal repayments), respectively. Purchases of mortgage-backed and
investment securities (including Federal Home Loan Bank Stock) approximated
$997,000, $100,000, and $156,000 respectively, in those same periods.

                                       25
<PAGE>

     Financing activities in the years ended March 31, 2000 and 1999
consisted of a net increase in total deposits of approximately $4,028,000 and
$1,166,000, and for year ended March 31, 1998 a net increase in total deposits
of approximately $2,448,000. The Bank had no borrowed funds during these years.

     At March 31, 2000, the Bank had outstanding loan commitments of $1,441,000.

     Regulations require a savings institution to maintain an average daily
balance of liquid assets (cash and eligible investments) equal to at least 5% of
the average daily balance of its net withdrawable deposits and short-term
borrowings. In addition, short-term liquid assets currently must constitute 1%
of the sum of net withdrawable deposit accounts plus short-term borrowings.
Management's objectives and strategies for the Bank have consistently maintained
liquidity levels in excess of regulatory requirements. At March 31, 2000 and
1999, the Bank's liquidity level was in excess of 25%.

     The Bank is also required to maintain specific amounts of capital
pursuant to federal regulations. As of March 31, 2000 the Bank was in compliance
with all regulatory capital requirements, with core (Tier 1) and risk-based
(Tier 2) ratios of 9.65%, and 23.01%, well above the required ratios.

                    EFFECT OF INFLATION AND CHANGING PRICES

     The Financial Statements and related financial data presented herein
have been prepared in accordance with GAAP, which requires the measurement of
financial position and operating results in terms of historical dollars, without
considering the changes in relative purchasing power of money over time due to
inflation. The primary impact of inflation on operations of the Bank is
reflected in increased operating costs. Unlike most industrial companies,
virtually all the assets and liabilities of a financial institution are monetary
in nature. As a result, interest rates generally have a more significant impact
on a financial institution's performance than do

                                       26
<PAGE>

general levels of inflation. Interest rates do not necessarily move in the same
direction or to the same extent as the prices of goods and services.

                                  STOCK DATA

     West Town Bancorp, Inc.'s common stock is traded over-the-counter through
the National Daily Quotation System "Pink Sheet" published by the National
Quotation Bureau, Inc. At March 31, 2000, the Company had 210,362 shares
outstanding with a book value of $19.81 per share. The closing price of the
stock on March 31, 2000 was $12.00 per share, or 60.6% of book value. Earnings
per share for the year ended March 31, 1999 was $0.30.

                                       27
<PAGE>

                            STOCKHOLDER INFORMATION
                            -----------------------

                            CORPORATE HEADQUARTERS
                            West Town Savings Bank
                             4852 West 30th Street
                            Cicero, Illinois 60804
                                (708) 652-2000


                                GENERAL COUNSEL
                           Kemp & Grzelakowski, Ltd.
                              Oak Brook, Illinois

                      STOCK TRANSFER AGENT AND REGISTRAR
                          First Bankers Trust Company
                            Broadway at 12th Street
                                 P.O. Box 3566
                          Quincy, Illinois 62305-3566
                                (217) 228-8060


                             INDEPENDENT AUDITORS
                         Cobitz, Vandenberg & Fennessy
                             Palos Hills, Illinois

                             INVESTOR INFORMATION
        Stockholders, investors, and analysts interested in additional
                            information may contact
                    Dennis B. Kosobucki, President and CEO,
                         at the corporate headquarters


                      ANNUAL MEETING OF STOCKHOLDERS The
         Annual Meeting of the Stockholders of West Town Bancorp, Inc.
     will be held at 1:00 p.m., July 12, 2000, at the following location:
                            Corporate Headquarters
                              4852 W. 30th Street
                            Cicero, Illinois 60804

               All Stockholders are cordially invited to attend.

       At April 30, 2000, the Corporation had 83 stockholders of record.

                                       28
<PAGE>

                         Cobitz, Vandenberg & Fennessy
                         CERTIFIED PUBLIC ACCOUNTANTS
                      9944 SOUTH ROBERTS ROAD, SUITE 202
                         PALOS HEIGHTS, ILLINOIS 60465
                      (708) 430-4106 - Fax (708) 430-4499


                         INDEPENDENT AUDITORS' REPORT


The Board of Directors
West Town Bancorp, Inc.
Cicero, Illinois

     We have audited the consolidated statements of financial condition of West
Town Bancorp, Inc. and subsidiaries as of March 31, 2000 and 1999 and the
related consolidated statements of income, changes in stockholders' equity and
cash flows for each of the three years in the period ended March 31, 2000.
These consolidated financial statements are the responsibility of the Company's
management.  Our responsibility is to express an opinion on these consolidated
financial statements based on our audits.

     We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the consolidated financial statements are
free of material misstatements.  An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the consolidated financial
statements.  An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
consolidated 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 West Town
Bancorp, Inc. and subsidiaries at March 31, 2000 and 1999, and the results of
their operations and their cash flows for each of the three years in the period
ending March 31, 2000, in conformity with generally accepted accounting
principles.


                                      /s/ Cobitz, Vandenberg & Fennessy
May 2, 2000
Palos Hills, Illinois

                                      F-1
<PAGE>

                            WEST TOWN BANCORP, INC.
                               AND SUBSIDIARIES
                               ----------------

                Consolidated Statements of Financial Condition

<TABLE>
<CAPTION>
                                                                   March 31,
                                                           ------------------------
                                                               2000         1999
                                                           -----------   ----------
<S>                                                        <C>           <C>
Assets
------
Cash and amounts due from depository institutions          $   340,342      244,104
Interest-bearing deposits                                   10,829,567    7,895,043
                                                           -----------   ----------
   Total cash and cash equivalents                          11,169,909    8,139,147
Mortgage-backed securities, held to maturity
  (fair value: 2000 - $1,590,600;
  1999 - $954,000) (note 2)                                  1,575,557      937,938
Loans receivable (net of allowance for loan losses:
  2000 - $58,171; 1999 - $52,171) (note 3)                  19,632,826   20,109,900
Stock in Federal Home Loan Bank of Chicago                     186,400      177,400
Other investments, available for sale,
  at fair value (note 4)                                       248,750      270,000
Accrued interest receivable (note 5)                           151,674      152,450
Office properties and equipment - net (note 6)               1,648,374      556,326
Prepaid expenses and other assets (note 7)                     344,395      640,703
                                                           -----------   ----------

   Total assets                                             34,957,885   30,983,864
                                                           ===========   ==========

Liabilities and Stockholders' Equity
------------------------------------

Liabilities
-----------

Deposits (note 8)                                           30,457,620   26,429,517
Borrowed money (note 9)                                              -            -
Advance payments by borrowers for taxes and insurance           36,710       41,032
Other liabilities (note 10)                                    296,309      266,891
                                                           -----------   ----------
   Total liabilities                                        30,790,639   26,737,440
                                                           -----------   ----------

Stockholders' Equity
--------------------

Preferred stock, $.01 par value; authorized
  100,000 shares; none outstanding                                   -            -
Common stock, $.01 par value; authorized
  400,000 shares; 231,928 shares issued and
  210,362 shares outstanding at March 31, 2000
  and 222,603 shares outstanding at March 31, 1999               2,319        2,319
Additional paid-in capital                                   1,997,261    1,993,869
Retained earnings, substantially restricted                  2,499,062    2,437,026
Accumulated other comprehensive income,
  net of income taxes                                           31,223       44,832
Treasury stock, at cost (21,566 and 9,325 shares
  at March 31, 2000 and 1999)                                 (254,657)    (107,206)
Common stock acquired by Employee Stock Ownership Plan        (107,962)    (124,416)
                                                           -----------   ----------
   Total stockholders' equity (notes 13 and 14)              4,167,246    4,246,424
                                                           -----------   ----------

Commitments and contingencies (notes 15 and 16)

   Total liabilities and stockholders' equity              $34,957,885   30,983,864
                                                           ===========   ==========
 </TABLE>

See accompanying notes to consolidated financial statements.

                                      F-2
<PAGE>

                            WEST TOWN BANCORP, INC.
                               AND SUBSIDIARIES
                               ----------------

                       Consolidated Statements of Income

<TABLE>
<CAPTION>
                                                     Years Ended March 31,
                                               ---------------------------------
                                                   2000        1999       1998
                                                   ----        ----       ----
<S>                                            <C>          <C>        <C>
Interest income:
  Loans                                         $1,448,545  1,467,693  1,393,895
  Mortgage-backed securities                        45,271     79,886    126,074
  Investment securities                             11,000     13,071     35,368
  Interest-bearing deposits                        510,749    429,938    347,285
  Dividends on FHLB stock                           12,710     11,589     11,938
                                                ----------  ---------  ---------
     Total interest income                       2,028,275  2,002,177  1,914,560
                                                ----------  ---------  ---------

Interest expense:
  Deposits                                       1,244,964  1,222,575  1,168,346
                                                ----------  ---------  ---------

     Net interest income before provision
      for loan losses                              783,311    779,602    746,214
Provision for loan losses (note 3)                   6,000      6,000      6,000
                                                ----------  ---------  ---------
     Net interest income after provision
      for loan losses                              777,311    773,602    740,214
                                                ----------  ---------  ---------

Non-interest income:
  Loan fees and service charges                     12,530      9,733     12,282
  Rental income                                     10,316      9,720      7,810
  Deposit related fees and other income             27,010     27,872     19,307
                                                ----------  ---------  ---------
     Total non-interest income                      49,856     47,325     39,399
                                                ----------  ---------  ---------

Non-interest expense:
  Compensation, employee benefits, and
    related expenses (note 11)                     376,085    306,867    299,366
  Advertising and promotion                         31,519     12,288     14,786
  Occupancy and equipment expenses (note 6)        130,211     96,003     74,277
  Data processing                                   37,450     42,530     39,458
  Federal deposit insurance premiums                12,933     15,346     14,669
  Legal, audit, and examination services            61,935     52,460     58,690
  Other operating expenses                          90,814     46,429     51,148
                                                ----------  ---------  ---------
     Total non-interest expense                    740,947    571,923    552,394
                                                ----------  ---------  ---------

Net income before income taxes                      86,220    249,004    227,219

Provision for income taxes (note 12)                24,184     91,640     85,042
                                                ----------  ---------  ---------

     Net income                                 $   62,036    157,364    142,177
                                                ==========  =========  =========


Earnings per share - basic                            $.30        .75        .67
                                                ----------  ---------  ---------

Earnings per share - diluted                          $.30        .74        .67
                                                ----------  ---------  ---------

Dividends declared per common share            $        -           -          -
                                                            ---------  ---------
</TABLE>


See accompanying notes to consolidated financial statements.

                                      F-3
<PAGE>

                            WEST TOWN BANCORP, INC.
                               AND SUBSIDIARIES
                               ----------------

          Consolidated Statements of Changes in Stockholders' Equity

                       Three Years Ended March 31, 2000

<TABLE>
<CAPTION>
                                                                       Accumulated                Common     Common
                                            Additional                   Other                    Stock      Stock
                                   Common    Paid-in      Retained    Comprehensive   Treasury    Acquired   Awarded
                                   Stock     Capital      Earnings       Income         Stock     by ESOP    by MRP      Total
                                  -------   ----------   ----------   -------------   ---------  --------    -------   ---------
<S>                               <C>       <C>          <C>          <C>             <C>        <C>         <C>       <C>
Balance at March 31, 1997         $ 2,319    1,986,077    2,137,485            -            -    (153,001)    (9,319)  3,963,561
                                  -------    ---------    ---------     --------       -------    -------     -------  ---------
Comprehensive income:
Net income                                                  142,177                                                      142,177
                                                          ---------                                                    ---------
Total comprehensive income                                  142,177                                                      142,177
                                                          ---------                                                    ---------
Purchase of treasury stock
  (7,625 shares)                                                                      (81,906)                           (81,906)
Amortization of award of
  MRP stock                                                                                                    9,319       9,319
Contribution to fund ESOP loan                   1,050                                             13,617                 14,667
                                  -------    ---------    ---------      -------      -------     -------    -------   ---------
Balance at March 31, 1998           2,319    1,987,127    2,279,662            -      (81,906)   (139,384)         -   4,047,818

Comprehensive income:
Net income                                                  157,364                                                      157,364
 Other comprehensive income,
   net of tax:
  Unrealized holding gain
   during the year                                                        44,832                                          44,832
                                                          ---------      -------                                       ---------
Total comprehensive income                                  157,364       44,832                                         202,196
                                                          ---------      -------                                       ---------
Purchase of treasury stock
  (1,700 shares)                                                                      (25,300)                           (25,300)
Tax benefit related to
  MRP stock                                      2,730                                                                     2,730
Contribution to fund ESOP loan                   4,012                                             14,968                 18,980
                                  -------    ---------    ---------      -------      -------     -------   --------   ---------
Balance at March 31, 1999           2,319    1,993,869    2,437,026       44,832     (107,206)   (124,416)         -   4,246,424

Comprehensive income:
Net income                                                   62,036                                                       62,036
 Other comprehensive income,
   net of tax:
  Unrealized holding loss
   during the year                                                       (13,609)                                        (13,609)
                                                          ---------      -------                                       ---------
Total comprehensive income                                   62,036      (13,609)                                         48,427
                                                          ---------      -------                                       ---------
Purchase of treasury stock
  (12,241 shares)                                                                    (147,451)                          (147,451)
Contribution to fund ESOP loan                   3,392                                             16,454                 19,846
                                    -----    ---------    ---------      -------      -------     -------     ------   ---------
Balance at March 31, 2000         $ 2,319    1,997,261    2,499,062       31,223     (254,657)   (107,962)         -   4,167,246
                                    =====    =========    =========      =======      =======     =======     ======   =========
</TABLE>

See accompanying notes to consolidated financial statements.

                                      F-4
<PAGE>

                            WEST TOWN BANCORP, INC.
                               AND SUBSIDIARIES
                               ----------------

                     Consolidated Statements of Cash Flows

<TABLE>
<CAPTION>
                                                                  Years Ended March 31,
                                                          --------------------------------------
                                                             2000         1999         1998
                                                             ----         ----         ----
<S>                                                   <C>               <C>          <C>
Cash flows from operating activities:
  Net income                                           $     62,036      157,364      142,177
   Adjustments to reconcile net income to net cash
    from operating activities:
     Depreciation                                            47,049       28,164       24,188
     Amortization of cost of stock benefit plans             19,846       18,980       23,986
     Amortization of investment premiums and discounts            -            -          315
     Federal Home Loan Bank stock dividend                   (3,100)           -            -
     Provision for loan losses                                6,000        6,000        6,000
     Increase (decrease) in deferred income                  (7,142)      (1,519)      30,979
     (Increase) decrease in current and deferred
       federal and state income taxes                       (31,713)      20,528          625
     (Increase) decrease in accrued interest receivable         776       48,597      (90,667)
     Increase (decrease) in accrued interest payable         15,002      (39,999)      38,820
     Change in prepaid and accrued items, net               350,078      527,798     (943,917)
                                                        -----------   ----------    ---------

Net cash provided by (for) operating activities             458,832      765,913     (767,494)
                                                        -----------   ----------    ---------

Cash flows from investing activities:
     Purchase of investment securities,
       available for sale                                         -     (100,000)    (100,000)
     Proceeds from maturities of investment securities,
       held to maturity                                           -      500,000      600,000
     Purchase of mortgage-backed securities,
         held to maturity                                  (991,250)           -            -
     Proceeds from repayments of mortgage-backed
       securities, held to maturity                         353,631      693,683      862,671
     Purchase of Federal Home Loan Bank stock                (5,900)           -      (56,400)
     Disbursements for loans originated or purchased     (4,689,865)  (9,751,611) (11,065,754)
     Loan repayments                                      4,461,070    7,357,914    6,001,999
     Participation loans sold                               707,011      730,946    2,127,691
     Property and equipment expenditures                 (1,139,097)    (382,125)     (27,024)
                                                        -----------   ----------    ---------
Net cash provided for investing activities               (1,304,400)    (951,193)  (1,656,817)
                                                        -----------   ----------    ---------
Cash flows from financing activities:
     Purchase of treasury stock                            (147,451)     (25,300)     (81,906)
     Deposit receipts                                    15,562,103    8,711,886   11,430,518
     Deposit withdrawals                                (12,763,981)  (8,521,811)  (9,752,245)
     Interest credited to deposit accounts                1,229,981      975,592      769,103
     Increase (decrease) in advance payments by
      borrowers for taxes and insurance                      (4,322)       6,482       (7,364)
                                                        -----------    ---------    ---------

Net cash provided by financing activities                 3,876,330    1,146,849    2,358,106
                                                        -----------    ---------    ---------

Increase (decrease) in cash and cash equivalents          3,030,762      961,569      (66,205)
Cash and cash equivalents at beginning of year            8,139,147    7,177,578    7,243,783
                                                        -----------    ---------    ---------

Cash and cash equivalents at end of year               $ 11,169,909    8,139,147    7,177,578
                                                        ===========    =========    =========
Cash paid during the year for:
    Interest                                           $  1,229,962    1,262,574    1,129,526
    Income taxes                                             56,754       71,112       83,827
                                                        ===========    =========    =========
</TABLE>

See accompanying notes to consolidated financial statements.

                                      F-5
<PAGE>

                            WEST TOWN BANCORP, INC.
                               AND SUBSIDIARIES
                               ----------------

                  Notes to Consolidated Financial Statements


1)   Summary of Significant Accounting Policies
     ------------------------------------------

     West Town Bancorp, Inc. (the "Company") is a Delaware corporation
     incorporated on May 6, 1994 for the purpose of becoming the savings bank
     holding company for West Town Savings Bank (the "Bank"). On March 1, 1995,
     the Bank converted from a mutual to a stock form of ownership, and the
     Company completed its initial public offering, and with a portion of the
     net proceeds acquired all of the issued and outstanding capital stock of
     the Bank.

     The accounting and reporting policies of the Company and its subsidiaries
     conform to generally accepted accounting principles and to general practice
     within the thrift industry.  The preparation of financial statements in
     conformity with generally accepted accounting principles requires
     management to make estimates and assumptions that affect the reported
     amounts of assets and liabilities and disclosures 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.  The following is a description
     of the more significant policies which the Company follows in preparing and
     presenting its consolidated financial statements.

     Principles of Consolidation
     ---------------------------

     The accompanying consolidated financial statements include the accounts of
     the Company, and its wholly owned subsidiary, West Town Savings Bank and
     the Bank's wholly owned subsidiary, West Town Insurance Agency, Inc.
     Significant intercompany balances and transactions have been eliminated in
     consolidation.

     Industry Segments
     -----------------

     The Company operates principally in the banking industry through its
     subsidiary bank.  As such, substantially all of the Company's revenues, net
     income, identifiable assets and capital expenditures are related to banking
     operations.

     Mortgage-Backed Securities, Held to Maturity
     --------------------------------------------

     Mortgage-backed securities are carried at cost, and adjusted for
     amortization of premiums and accretion of discounts.  Premiums and
     discounts are amortized and accreted into income using the level-yield
     method.  These securities are not carried at fair value because the Company
     has both the ability and the intent to hold them to maturity.

                                      F-6
<PAGE>

1)   Summary of Significant Accounting Policies (continued)
     ------------------------------------------------------

     Other Investments, Available for Sale
     -------------------------------------

     Investment securities are recorded in accordance with Statement of
     Financial Accounting Standards ("SFAS") No. 115 "Accounting for Certain
     Investments in Debt and Equity Securities". SFAS No. 115 requires the use
     of fair value accounting for securities available for sale or trading and
     retains the use of the amortized cost method for investments the Company
     has the positive intent and ability to hold to maturity.

     SFAS No. 115 requires the classification of debt and equity securities into
     one of three categories: held to maturity, available for sale, or trading.
     Held to maturity securities are measured at amortized cost.  Unrealized
     gains and losses on trading securities are included in income.  Unrealized
     gains and losses on available for sale securities are excluded from income
     and reported net of taxes as a separate component of stockholders' equity.

     The Company has designated certain equity and debt securities as available
     for sale, and has recorded these investments at their current fair values.
     Unrealized gains and losses are recorded in a valuation account which is
     included, net of income taxes, as a separate component of stockholders'
     equity.  Gains and losses on the sale of securities are determined using
     the specific identification method.

     Loans Receivable and Related Fees
     ---------------------------------

     Loans are stated at the principal amount outstanding, net of loans in
     process, deferred fees and the allowance for losses.  Interest on loans is
     credited to income as earned and accrued only if deemed collectible.  Loans
     are placed on non-accrual status when, in the opinion of management, the
     full timely collection of principal or interest is in doubt.  As a general
     rule, the accrual of interest is discontinued when principal or interest
     payments become 90 days past due or earlier if conditions warrant.  When a
     loan is placed on nonaccrual status, previously accrued but unpaid interest
     is charged against current income.

     Loan origination fees are being deferred in accordance with SFAS No. 91,
     "Accounting for Nonrefundable Fees and Costs Associated with Originating or
     Acquiring Loans and Initial Direct Costs of Leases".  This statement
     requires that loan origination fees and direct loan origination costs for a
     completed loan be netted and then deferred and amortized into interest
     income as an adjustment of yield over the contractual life of the loan.

     The Company has adopted the provisions of SFAS No. 114 "Accounting by
     Creditors for Impairment of a Loan" and SFAS No. 118 "Accounting by
     Creditors for Impairment of a Loan - Income Recognition and Disclosures"
     which impose certain requirements on the measurement of impaired loans.
     These statements apply to all loans that are identified for evaluation
     except for large groups of smaller-balance homogeneous loans that are
     collectively evaluated for impairment.  These loans include, but are not
     limited to, residential mortgage and consumer installment loans.  Of the
     remaining loans which are evaluated for impairment, management has
     determined that there were no loans at March 31, 2000 and 1999, nor during
     the years ended March 31, 2000 and 1999, which met the definition of an
     impaired loan.  A loan is considered impaired when it is probable that a
     creditor will be unable to collect contractual principal and interest due
     according to the contractual terms of the loan agreement.

                                      F-7
<PAGE>

1)   Summary of Significant Accounting Policies (continued)
     ------------------------------------------------------

     Allowance for Loan Losses
     -------------------------

     The determination of the allowance for loan losses involves material
     estimates that are susceptible to significant change in the near term.  The
     allowance for loan losses is maintained at a level adequate to provide for
     losses through charges to operating expense.  The allowance is based upon
     past loss experience and other factors which, in management's judgement,
     deserve current recognition in estimating losses.  Such other factors
     considered by management include growth and composition of the loan
     portfolio, the relationship of the allowance for losses to outstanding
     loans, and economic conditions.

     Management believes that the allowance is adequate.  While management uses
     available information to recognize losses on loans, future additions to the
     allowance may be necessary based on changes in economic conditions.  In
     addition, various regulatory agencies, as an integral part of their
     examination process, periodically review the Company's allowance for
     losses.  Such agencies may require the Company to recognize additions to
     the allowance based on their judgements about information available to them
     at the time of their examination.

     Depreciation
     ------------

     Depreciation of office properties and equipment are accumulated on the
     straight-line basis over estimated lives of the various assets.  Estimated
     lives are 15 to 40 years for office buildings, 30 years for parking lot
     improvements, and 5 to 10 years for furniture, fixtures and equipment.

     Income Taxes
     ------------

     The Company files a consolidated federal income tax return with its
     subsidiaries. The provision for federal and state taxes on income is based
     on earnings reported in the financial statements. Deferred income taxes
     arise from the recognition of certain items of income and expense for tax
     purposes in years different from those in which they are recognized in the
     consolidated financial statements. Deferred tax assets and liabilities are
     recognized for the estimated future tax consequences attributable to
     differences between the financial statement carrying amount of existing
     assets and liabilities and their respective tax bases. Deferred tax assets
     and liabilities are measured using enacted tax rates in effect for the year
     in which those temporary differences are expected to be recovered or
     settled. The effect on deferred tax assets and liabilities of a change in
     tax rates is recognized in income for the period that includes the
     enactment date.

     Consolidated Statements of Cash Flows
     -------------------------------------

     For the purposes of reporting cash flows, the Company has defined cash and
     cash equivalents to include cash on hand, amounts due from depository
     institutions, and interest-bearing deposits in other financial
     institutions.

                                      F-8
<PAGE>

1)   Summary of Significant Accounting Policies (continued)
     ------------------------------------------------------

     Earnings per Share
     ------------------

     The Company computes its earnings per share (EPS) in accordance with SFAS
     No. 128  "Earnings per Share".  This statement simplifies the standards for
     computing EPS previously found in Accounting Principles Board Opinion No. 5
     "Earnings per Share" and makes them comparable to international EPS
     standards.  It replaces the presentation of primary EPS with a presentation
     of basic EPS and fully diluted EPS with diluted EPS.

     Basic EPS, unlike primary EPS, excludes dilution and is computed by
     dividing income available to common stockholders by the weighted-average
     number of common shares outstanding for the period.  Diluted EPS reflects
     the potential dilution that could occur if securities or other contracts to
     issue common stock were exercised or converted into common stock or
     resulted in the issuance of common stock that then shared in the earnings
     of the entity.

     The following presentation illustrates basic and diluted EPS in accordance
     with the provisions of SFAS No. 128:


                                               Years Ended March 31,
                                          ------------------------------
                                            2000       1999       1998
                                          --------    -------    -------

     Weighted average number of
       common shares outstanding used
       in basic EPS calculation            203,981    209,786    212,602
     Add common stock equivalents
       for shares issuable under
       Stock Option Plans                    2,720      3,566      1,026
                                          --------    -------    -------

     Weighted average number of shares
       outstanding adjusted for common
       stock equivalents                   206,701    213,352    213,628
                                          ========    =======    =======

     Net income                           $ 62,036    157,364    142,177
     Basic earnings per share             $    .30        .75        .67
     Diluted earnings per share           $    .30        .74        .67

                                      F-9
<PAGE>

2)   Mortgage-Backed Securities, Held to Maturity
     --------------------------------------------

     Mortgage-backed securities are summarized as follows:

                                                 Gross     Gross
                                 Amortized    Unrealized Unrealized    Fair
                                     Cost        Gains     Losses      Value
                                 -----------  ---------- ---------- ---------

March 31, 2000
--------------

  Participation Certificates:

   FHLMC                          $   54,359       831       290      54,900
   GNMA                            1,151,003    16,797         -   1,167,800
   FNMA                              370,195         -     2,295     367,900
                                  ----------  --------  --------   ---------

                                  $1,575,557    17,628     2,585   1,590,600
                                  ==========  ========  ========   =========

  Weighted average interest rate        7.24%
                                        ====

March 31, 1999
--------------

  Participation Certificates:

      FHLMC                         $244,579     1,832       611     245,800
      GNMA                           238,744    16,056         -     254,800
      FNMA                           454,615         -     1,215     453,400
                                  ----------  --------  --------   ---------

                                  $  937,938    17,888     1,826     954,000
                                  ==========  ========  ========   =========

  Weighted average interest rate        6.27%
                                        ====

                                     F-10
<PAGE>

3)    Loans Receivable
      ----------------

      Loans receivable are summarized as follows:

                                                     March 31,
                                             -----------------------
                                                 2000        1999
                                             ------------  ---------
     Mortgage loans:
        One-to-four family                    $17,677,995  19,248,793
        Multi-family                              253,884     345,663
        Nonresidential                            808,381      67,092
        Construction                            2,047,848   1,673,802
                                              -----------  ----------

     Total mortgage loans                      20,788,108  21,335,350
                                              -----------  ----------

     Other loans:
        Loans on deposit accounts                  26,061       6,889
        Consumer                                  191,497     197,056
                                              -----------  ----------

     Total other loans                            217,558     203,945
                                              -----------  ----------

     Total loans receivable                    21,005,666  21,539,295
                                              -----------  ----------

     Less:
        Loans in process                        1,235,476   1,290,889
        Deferred loan fees and discounts,
         net of premiums                           79,193      86,335
        Allowance for loan losses                  58,171      52,171
                                              -----------  ----------

     Loans receivable, net                    $19,632,826  20,109,900
                                              ===========  ==========

     Weighted average interest rate                  7.38%       7.05%
                                                     ====        ====




     There were no loans delinquent three months or more at March 31, 2000 and
     1999 respectively.  The Bank has established a loan loss reserve of $58,171
     as required by its internal policies.

     Activity in the allowance for loan losses is summarized as follows:


                                         Years Ended March 31,
                                    -------------------------------
                                      2000        1999        1998
                                    -------      ------      ------

     Balance, beginning of year     $52,171      46,171      40,171

     Provision for loan losses        6,000       6,000       6,000

     Charge-offs                          -           -           -
                                    -------      ------      ------

     Balance, end of year           $58,171      52,171      46,171
                                    =======      ======      ======


     The Bank has pledged approximately $469,000 in single-family mortgage loans
     as collateral to secure deposits in excess of Federal Deposit Insurance
     Corporation insurance limitations.  The balances of these loans are at
     least 110% of the non-insured deposits at March 31, 2000, in accordance
     with the terms of the executed collateralization agreements with various
     depositors.

                                     F-11
<PAGE>

4)   Other Investments, Available for Sale
     -------------------------------------

     This portfolio is being accounted for at fair value in accordance with SFAS
     No. 115.  A summary of other investments available for sale is as follows:

<TABLE>
<CAPTION>
                                                   Gross       Gross
                                     Amortized   Unrealized  Unrealized   Fair
                                        Cost        Gains      Losses     Value
                                     ---------   ----------  ----------   -----
     <S>                            <C>          <C>         <C>         <C>
     March 31, 2000
     --------------

     Corporate equity securities      $100,000      70,000          -    170,000
     Corporate debt securities         100,000           -     21,250     78,750
                                      --------   ---------   --------    -------

                                      $200,000      70,000     21,250    248,750
                                      ========   =========   ========    =======


     March 31, 1999
     --------------

     Corporate equity securities      $100,000      70,000          -    170,000
     Corporate debt securities         100,000           -          -    100,000
                                      --------   ---------   --------    -------

                                      $200,000      70,000          -    270,000
                                      ========   =========   ========    =======
</TABLE>

     There were no sales from this portfolio during the years ended March 31,
     2000, 1999 and 1998 respectively. In addition, during the current period,
     the decrease in net unrealized gains of $21,250 net of the tax effect of
     $7,641, resulted in a $13,609 charge to stockholders' equity.

5)   Accrued Interest Receivable
     ---------------------------

     Accrued interest receivable is summarized as follows:

<TABLE>
<CAPTION>
                                        March 31,
                                 ----------------------
<S>                              <C>           <C>
                                     2000       1999
                                     ----       ----

     Interest-bearing deposits     $ 17,616      9,528
     Mortgage-backed securities       9,395      6,260
     Loans receivable               122,281    131,636
     Other                            2,382      5,026
                                   --------    -------

                                   $151,674    152,450
                                   ========    =======
</TABLE>

                                     F-12
<PAGE>

6)   Office Properties and Equipment
     -------------------------------

     Office properties and equipment are summarized as follows:

<TABLE>
<CAPTION>
                                                  March 31,
                                            ---------------------
                                                2000       1999
                                                ----       ----
     <S>                                    <C>          <C>
     Cost:
       Land - Cicero                        $   25,532     25,532
       Land - North Riverside                  351,975    313,862
       Office building - Cicero                426,631    426,631
       Office building - North Riverside       753,613          -
       Furniture, fixtures and equipment       433,826     86,455
       Automobile                               36,511     36,511
                                            ----------    -------
                                             2,028,088    888,991

     Less accumulated depreciation             379,714    332,665
                                            ----------    -------

                                            $1,648,374    556,326
                                            ==========    =======
</TABLE>


     Depreciation of office properties and equipment for the years ended March
     31, 2000, 1999 and 1998 amounted to $47,049, $28,164, and $24,188
     respectively.

     During the prior period, the Bank received permission from the Office of
     Banks and Real Estate and the Federal Deposit Insurance Corporation to
     establish a branch office in North Riverside, Illinois. Construction of the
     branch office has been completed at a total cost of approximately
     $1,451,000 which includes site acquisition and improvement, construction
     costs, and purchase of furniture, fixtures and equipment.  The branch
     office commenced operations in January, 2000.

7)   Prepaid Expenses and Other Assets
     ---------------------------------

     Prepaid expenses and other assets consist of the following:

<TABLE>
<CAPTION>
                                                       March 31,
                                                  -------------------
                                                    2000       1999
                                                  --------   --------
     <S>                                          <C>        <C>

     Current federal and state income tax
       overpayment - net                          $ 50,620      5,113
     Prepaid insurance                              14,635     17,919
     Other prepaid expenses                         30,639     22,418
     Cash surrender value of corporate-owned
       life insurance                               66,900     48,880
     Amounts due on loans serviced by others       179,514    541,654
     Other                                           2,087      4,719
                                                  --------    -------

                                                  $344,395    640,703
                                                  ========    =======
</TABLE>

                                     F-13
<PAGE>

8)   Deposits
     --------

     Deposit accounts are summarized as follows:
                                                             March 31,
                                                     -----------------------
                                                         2000        1999
                                                     -----------  ----------

     Passbook accounts                               $ 5,743,002   6,121,376
     Certificates                                     23,181,196  20,191,222
     Demand deposit and money market accounts          1,533,422     116,919
                                                     -----------  ----------

       Total                                         $30,457,620  26,429,517
                                                     ===========  ==========


     The composition of deposit accounts by interest rate is as follows:

                                                             March 31,
                                                     -----------------------
                                                         2000        1999
                                                     -----------  ----------

     Non-interest bearing                            $   265,115      55,246
     1.00 - 2.99%                                      5,994,610   6,183,049
     3.00 - 3.99                                          32,771           -
     4.00 - 4.99                                       3,654,989   4,100,177
     5.00 - 5.99                                      11,245,441  15,090,111
     6.00 - 6.99                                       9,264,694   1,000,934
                                                     -----------  ----------

       Total                                         $30,457,620  26,429,517
                                                     ===========  ==========


     The weighted average interest rate on deposit accounts at March 31, 2000
     and 1999 was 4.97% and 4.62% respectively.

     A summary of certificates of deposit that mature during the twelve-month
     periods indicated is as follows:

                                                              March 31,
                                                      -----------------------
                                                          2000        1999
                                                      -----------  ----------

     Twelve month period ended March 31, 2000         $      -     16,976,395
     Twelve month period ended March 31, 2001          16,685,638   2,417,817
     Twelve month period ended March 31, 2002           6,024,854     373,001
     Twelve month period ended March 31, 2003             194,986     172,250
     Twelve month period ended March 31, 2004             119,847     140,045
     Twelve month period ended March 31, 2005
       and thereafter                                     155,871     111,714
                                                      -----------  ----------

       Total                                          $23,181,196  20,191,222
                                                      ===========  ==========

     Interest expense on deposits consists of the following:


                                                   Years Ended March 31,
                                             --------------------------------
                                                2000       1999       1998
                                             ----------  ---------  ---------

     Passbooks                               $  147,544    156,253    172,313
     Certificates                             1,086,131  1,065,000    995,956
     Demand deposit and
      money market accounts                      11,289      1,322         77
                                             ----------  ---------  ---------

       Total                                 $1,244,964  1,222,575  1,168,346
                                             ==========  =========  =========



     The aggregate amount of deposit accounts with a balance of $100,000 or
     greater was approximately $6,499,000 and $6,293,000 at March 31, 2000 and
     1999 respectively.  Deposits in excess of $100,000 are not insured by the
     Federal Deposit Insurance Corporation.

                                     F-14
<PAGE>

9)   Borrowed Money
     --------------

     In connection with the Company's initial public offering, the Bank
     established an Employee Stock Ownership Plan (ESOP). The ESOP was funded by
     the proceeds from a $177,550 loan from the Company.  The loan carries an
     interest rate of nine and one-half percent and matures in the year 2005.
     The loan is secured by the shares of the Company purchased with the loan
     proceeds. The Bank has committed to make contributions to the ESOP
     sufficient to allow the ESOP to fund the debt service requirements of the
     loan.

10)  Other Liabilities
     -----------------

     Other liabilities include the following:
                                                               March 31,
                                                          -------------------
                                                             2000       1999
                                                          --------   --------

     Deferred income tax liability (a)                    $ 62,077     55,924
     Accrued interest on deposits                          109,544     94,542
     Accrued real estate taxes                              41,000     34,873
     Accrued audit fees                                     15,300     18,900
     Other accounts payable                                 68,388     62,652
                                                          --------     ------

                                                          $296,309    266,891
                                                          ========    =======


     (a)  The approximate tax effect of temporary differences that give rise to
          the Company's net deferred tax liability at March 31, 2000 and 1999
          under SFAS No. 109 is as follows:


                                                  Assets    Liabilities    Net
                                                  ------    -----------    ---
          March 31, 2000
          --------------

          Loan fees deferred for
           financial reporting purposes         $   (253)            -     (253)
          Accelerated depreciation for
           tax purposes                                -        33,675   33,675
          Bad debt reserves established
           for financial reporting purposes      (20,915)            -  (20,915)
          Increases to tax bad debt reserves
           since April 1, 1988                         -        30,928   30,928
          Unrealized gain on securities
           available for sale                          -        17,527   17,527
          Other                                        -         1,115    1,115
                                                --------        ------  -------

            Total                               $(21,168)       83,245   62,077
                                                ========        ======  =======


          March 31, 1999
          --------------

          Loan fees deferred for
           financial reporting purposes         $ (1,533)            -   (1,533)
          Accelerated depreciation for
           tax purposes                                -        12,387   12,387
          Bad debt reserves established
           for financial reporting purposes      (18,758)            -  (18,758)
          Increases to tax bad debt reserves
           since April 1, 1988                         -        38,660   38,660
          Unrealized gain on securities
           available for sale                          -        25,168   25,168
                                                --------        ------  -------

             Total                              $(20,291)       76,215   55,924
                                                ========        ======  =======

                                     F-15
<PAGE>

11)  Officer, Director and Employee Plans
     ------------------------------------

     Stock Option Plan
     -----------------

     On July 12, 1995, the stockholders of the Company approved the West Town
     Bancorp, Inc. Stock Option Plan. This is an incentive stock option plan for
     the benefit of the officers and employees of the Company and its affiliates
     and a directors' stock option plan for the benefit of outside directors of
     the Company. The number of shares authorized under the Plan is 22,194,
     equal to 10.0% of the total number of shares issued in the Conversion. As
     of March 31, 2000, 18,729 options had been granted, which are exercisable
     at a rate of 20% per year and expire ten years from the date of grant. The
     following is an analysis of the stock option activity for each of the years
     in the three year period ended March 31, 2000 and the stock options
     outstanding at the end of the respective periods:

                                                            Exercise Price
                                                        ------------------------
                                           Number
     Options                              of Shares      Per Share       Total
     -------                              ---------     -----------    ---------

     Outstanding at April 1, 1997            15,523     $      10.00    $155,230
     Granted                                    648            11.00       7,128
     Exercised                                    -                            -
     Forfeited                                    -                            -
                                             ------     ------------    --------

     Outstanding at March 31, 1998           16,171      10.00-11.00     162,358
     Granted                                    748            12.00       8,976
     Exercised                                    -                            -
     Forfeited                                    -                            -
                                             ------     ------------     -------

     Outstanding at March 31, 1999           16,919      10.00-12.00     171,334
     Granted                                    700            12.00       8,400
     Exercised                                    -                            -
     Forfeited                                    -                            -
                                             ------     ------------     -------

     Outstanding at March 31, 2000           17,619     $10.00-12.00    $179,734
                                             ======     ============    ========

     Exercisable at March 31, 2000           12,616     $10.00-12.00    $126,999
                                             ======     ============    ========

     Options available for future
       grants at March 31, 2000               3,465
                                             ======


     The weighted average fair value of options granted during the years ended
     March 31, 2000, 1999 and 1998 was $12.00, $12.00 and $11.00, respectively.
     As of March 31, 2000, the weighted average exercise price for options
     outstanding was $10.07 with a weighted average remaining contractual life
     of 5.7 years.

     The Company has elected to follow Accounting Principles Board Opinion No.
     25 "Accounting for Stock Issued to Employees" ("APB 25") and related
     interpretations in accounting for its employee stock options.  Under APB
     25, because the exercise price of the Company's employee stock options
     equals the market price of the underlying stock on the date of grant, no
     compensation expense is recognized.

     The Company implemented SFAS No. 123 "Accounting for Stock-Based
     Compensation" during the year ended March 31, 1997. The Company retained
     its current accounting method for its stock based compensation plans.  This
     statement only resulted in additional disclosures for the Company, and as
     such, its adoption did not have a material impact on the Company's
     financial condition or its results of operations.

                                     F-16
<PAGE>

11)  Officer, Director and Employee Plans (continued)
     ------------------------------------------------

     The following summarizes the pro forma net income as if the fair value
     method of accounting for stock-based compensation plans had been utilized:

                                                       Years Ended March 31,
                                                    --------------------------
                                                      2000    1999     1998
                                                      ----    ----     ----

     Net income (as reported)                       $62,036  157,364  142,177
     Pro forma net income                            58,882  154,354  139,387

     Earnings per share - diluted (as reported)     $   .30      .74      .67
     Pro forma diluted earnings per share               .28      .72      .65

     The pro forma results presented above may not be representative of the
     effects reported in pro form net income for future years.

     The fair value of the option grants for the years ended March 31, 2000,
     1999 and 1998 was estimated using the Black Scholes option value model,
     with the following assumptions: expected volatility of 10.0%, risk free
     interest rate of 6.33%, and an expected life of approximately 10 years
     during all periods.

     Employee Stock Ownership Plan
     -----------------------------

     In conjunction with the Conversion, the Bank formed an Employee Stock
     Ownership Plan ("ESOP"). The ESOP covers substantially all employees with
     more than one year of employment and who have attained the age of 21. The
     ESOP borrowed $177,550 from the Company and purchased 17,755 common shares
     issued in the Conversion. The Bank will make scheduled discretionary cash
     contributions to the ESOP sufficient to service the amount borrowed. In
     accordance with generally accepted accounting principles, the unpaid
     balance of the ESOP loan, which is comparable to unearned compensation, is
     reported as a reduction of stockholders' equity. Total contributions by the
     Bank to the ESOP which were used to fund principal and interest payments on
     the ESOP debt totaled $27,569, $27,569 and $27,569 for the years ended
     March 31, 2000, 1999 and 1998, respectively.

     On November 22, 1993, the AICPA issued Statement of Position No. 93-6,
     "Employers' Accounting for Employee Stock Ownership Plans" ("SOP No. 93-
     6"). SOP No. 93-6 provides guidance for accounting for all ESOPs. SOP No.
     93-6 requires that the issuance or sale of treasury shares to the ESOP be
     reported when the issuance or sale occurs and that compensation expense be
     recognized for shares committed to be released to directly compensate
     employees equal to the fair value of the shares committed. In addition, SOP
     No. 93-6 requires that leveraged ESOP debt and related interest expense be
     reflected in the employer's financial statements. Prior practice was to
     recognize compensation expenses based on the amount of the employer's
     contributions to the ESOP. The application of SOP No. 93-6 results in
     fluctuations in compensation expense as a result of changes in the fair
     value of the Company's common stock; however, any such compensation expense
     fluctuations will result in an offsetting adjustment to additional paid-in
     capital. Additional compensation expense, recognized as a result of the
     implementation of this accounting principle, was $3,392, $4,012, and $1,050
     for the years ended March 31, 2000, 1999 and 1998 respectively.

                                     F-17
<PAGE>

11)  Officer, Director and Employee Plans (continued)
     ------------------------------------------------

     Management Recognition Plan
     ---------------------------

     In conjunction with the Conversion, the Company formed a Management
     Recognition Plan ("MRP"), which was authorized to issue 4% of the total
     number of shares of common stock issued in the Conversion. Such additional
     shares, totaling 8,878, were issued from authorized but previously unissued
     shares. The MRP was established to award shares to directors and to
     employees in key management positions in order to provide them with a
     proprietary interest in the Company in a manner designed to encourage such
     employees to remain with the Company. As of March 31, 2000, all of the
     shares had been awarded and distributed.

     The fair value of the shares issued to the MRP in July of 1995 totaled
     $88,780. Such amount was amortized to compensation expense as the plan
     participants became vested in those shares. For the years ended March 31,
     2000, 1999 and 1998, $-0-, $-0- and $9,319 was amortized to expense
     respectively.

                                     F-18
<PAGE>

12)  Income Taxes
     ------------

     The Company has adopted SFAS No. 109 which requires a change from the
     deferred method to the liability method of accounting for income taxes.
     Under the liability method, deferred income taxes are recognized for the
     tax consequences of "temporary differences" by applying statutory tax rates
     applicable to future years to differences between the financial statement
     carrying amounts and tax bases of existing assets and liabilities.

     Among the provisions of SFAS No. 109 which impact the Company is the tax
     treatment of bad debt reserves. SFAS No. 109 provides that a deferred tax
     asset is to be recognized for the bad debt reserve established for
     financial reporting purposes and requires a deferred tax liability to be
     recorded for increases in the tax bad debt reserve for years beginning
     after January 1, 1988, the effective date of certain changes made by the
     Tax Reform Act of 1986 to the calculation of savings institutions' bad debt
     deduction. Accordingly, retained earnings at March 31, 2000 includes
     approximately $412,000 for which no deferred federal income tax liability
     has been recognized.

     The provision for income taxes consists of the following:

                                                  Years Ended March 31,
                                              ---------------------------
                                               2000       1999       1998
                                               ----       ----       ----

     Current                                 $10,390     82,708     83,027
     Deferred                                 13,794      8,932      2,015
                                             -------     ------     ------

                                             $24,184     91,640     85,042
                                             =======     ======     ======

     A reconciliation of the statutory federal income tax rate to effective
     income tax rate is as follows:

                                                    Years Ended March 31,
                                              --------------------------------
                                                 2000      1999       1998
                                                 ----      ----       ----

     Statutory federal income tax rate           34.0%      34.0       34.0
     Surtax exemption                           (11.7)      (2.6)      (2.8)
     State income tax                             6.2        4.7        4.3
     Other                                        (.5)        .7        1.9
                                                            ----       ----

     Effective income tax rate                   28.0%      36.8       37.4
                                                 =====      ====       ====

     Deferred income tax expense (benefit) consists of the following tax effects
     of timing differences:

                                                     Years Ended March 31,
                                                 -----------------------------
                                                   2000       1999       1998
                                                   ----       ----       ----

     Loan fees                                   $ 1,280      1,447        138
     Book loan loss provision in excess
      of tax bad debt deduction                   (2,157)    (2,158)    (2,157)
     Compensation related expenses                     -     10,330      2,956
     Depreciation                                 21,288      7,048      1,078
     Recapture of bad debt reserve                (7,732)    (7,735)         -
     Other                                         1,115          -          -
                                                 -------     ------     ------

                                                 $13,794      8,932      2,015
                                                 =======     ======     ======

                                     F-19


<PAGE>

13)  Regulatory Capital Requirements
     -------------------------------

     The Bank is subject to various regulatory capital requirements administered
     by the federal banking agencies. Failure to meet minimum total requirements
     can initiate certain mandatory and possible 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 correction 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 quantitative
     judgments by the regulators about components, risk weightings, and other
     factors.

     Quantitative measures established by regulation to ensure capital adequacy
     require the Bank to maintain minimum amounts and ratios, set forth in the
     table below, of the total risk-based and core capital, as defined in the
     regulations. Management believes, as of March 31, 2000, that the Bank meets
     all capital adequacy requirements to which it is subject.

     The Bank, according to federal regulatory standards, is well-capitalized
     under the regulatory framework for prompt corrective action. To be
     categorized as adequately capitalized, the Bank must maintain minimum total
     risk-based and core ratios as set forth in the table. There are no
     conditions or events since that notification that management believes have
     changed the institution's category.

     At March 31, 2000 and 1999, the Bank's actual capital amounts and ratios,
     minimum amounts and ratios required for capital adequacy purposes and
     minimum amounts and ratios to meet the well-capitalized criteria under
     prompt corrective action provisions, are as follows:

<TABLE>
<CAPTION>
                                                                          To Be Well-
                                                                       Capitalized Under
                                                  For Capital          Prompt Corrective
                             Actual             Adequacy Purposes      Action Provisions
                       ------------------------------------------------------------------
                        Amount    Ratio          Amount    Ratio         Amount    Ratio
                       ------------------------------------------------------------------
     <S>              <C>                      <C>                    <C>
     March 31, 2000
     --------------

     Risk-based       $ 3,353,181  23.01%      $ 1,165,760  8.00%     $ 1,457,200  10.00%
     Core               3,295,010   9.65         1,024,820  3.00        1,708,030   5.00

     March 31, 1999
     --------------

     Risk-based       $ 3,286,535  24.49%      $ 1,073,440  8.00%     $ 1,341,800  10.00%
     Core               3,234,364  10.76           901,720  3.00        1,502,870   5.00
</TABLE>

<TABLE>
<CAPTION>
                                                             Core       Risk-based
                                                            Capital       Capital
                                                            --------   -----------
     March 31, 2000
     --------------
     <S>                                                   <C>           <C>
     Retained earnings                                     $3,295,010    3,295,010
     General loss allowances                                     --         58,171
                                                           ----------    ---------
     Regulatory capital computed                           $3,295,010    3,353,181
                                                           ==========    =========
     March 31, 1999
     --------------

     Retained earnings                                     $3,234,364    3,234,364
     General loss allowances                                     --         52,171
                                                           ----------    ---------
     Regulatory capital computed                           $3,234,364    3,286,535
                                                           ==========    =========
</TABLE>

                                     F-20
<PAGE>

14)  Stockholders' Equity
     --------------------

     As part of the Conversion, the Bank established a liquidation account for
     the benefit of all eligible depositors who continue to maintain their
     deposit accounts in the Bank after conversion. In the unlikely event of a
     complete liquidation of the Bank, each eligible depositor will be entitled
     to receive a liquidation distribution from the liquidation account, in the
     proportionate amount of the then current adjusted balance for deposit
     accounts held, before distribution may be made with respect to the Bank's
     capital stock. The Bank may not declare or pay a cash dividend to the
     Company on, or repurchase any of, its capital stock if the effect thereof
     would cause the retained earnings of the Bank to be reduced below the
     amount required for the liquidation account. Except for such restrictions,
     the existence of the liquidation account does not restrict the use or
     application of retained earnings.

     In addition the Bank may not declare or pay cash dividends on or repurchase
     any of its shares of common stock if the effect thereof would cause
     stockholders' equity to be reduced below applicable regulatory capital
     maintenance requirements or if such declaration and payment would otherwise
     violate regulatory requirements.

     Unlike the Bank, the Company is not subject to these regulatory
     restrictions on the payment of dividends to its stockholders. However, the
     Company's source of funds for future dividends may depend upon dividends
     received by the Company from the Bank.

15)  Financial Instruments with Off-Balance Sheet Risk
     -------------------------------------------------

     The Company is a party to various transactions with off-balance sheet risk
     in the normal course of business. These transactions are primarily
     commitments to originate and to purchase loans. These financial instruments
     carry varying degrees of credit and interest-rate risk in excess of amounts
     recorded in the consolidated financial statements.

     Outstanding commitments to originate or purchase mortgage loans amounted to
     $1,441,000 at March 31, 2000 at fixed rates ranging from 8.00% to 9.75%.
     Because the credit worthiness of each customer is reviewed prior to
     extension of a commitment, the Bank adequately controls their credit risk
     on their commitments, as it does for loans recorded on the balance sheet.
     The Bank conducts all of its lending activities in the Chicagoland area.
     Management believes the Bank has a diversified loan portfolio and the
     concentration of lending activities in these local communities does not
     result in an acute dependency upon economic conditions of the lending
     region.

     The Federal Home Loan Bank of Chicago has issued an irrevocable letter of
     credit for $510,000 to the State of Illinois on behalf of the Bank in order
     to secure deposits totaling $502,230.

16)  Contingencies
     -------------

     The Bank is, from time to time, a party to certain lawsuits arising in the
     ordinary course of its business, wherein it enforces its security interest.
     Management, based upon discussions with legal counsel, believes that the
     Company and the Bank are not engaged in any legal proceedings of a material
     nature at the present time.

                                     F-21
<PAGE>

17)  Disclosures About the Fair Value of Financial Instruments
     ---------------------------------------------------------

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

     Cash and cash equivalents: For cash and interest-bearing deposits, the
     carrying amount is a reasonable estimate of fair value.

     Mortgage-backed securities: Fair values for mortgage-backed securities are
     based on average quotes received from a third-party broker.

     Loans receivable: The fair values of mortgage loans are estimated using
     discounted cash flow analyses, using interest rates currently being offered
     for loans with similar terms and collateral to borrowers of similar credit
     quality.

     Other investments: Fair values for other investments are based on quoted
     market prices received from third-party sources.

     Deposit liabilities: The fair value of savings accounts is the amount
     payable on demand at the reporting date. The fair value of fixed maturity
     certificates of deposit is estimated by discounting the future cash flows
     using the rates currently offered for deposits of similar original
     maturities.

     Financial instruments with off-balance sheet risk: Fair values of the
     Company's off-balance sheet financial instruments, which consist of loan
     commitments, are based on fees charged to enter into these agreements. As
     the Company currently charges no fees on these instruments, no estimate of
     fair value has been made.

     The fair value of the Company's off-balance-sheet instruments is nominal.

     The estimated fair values of the Company's financial instruments as of
     March 31, 2000 and 1999 are as follows:

<TABLE>
<CAPTION>
                                                                March 31, 2000
                                                         --------------------------
                                                            Carrying        Fair
                                                             Amount         Value
                                                         -------------  ------------
     <S>                                                 <C>            <C>
     Financial assets:
       Cash and cash equivalents                          $ 11,169,909    11,169,909
       Mortgage-backed securities                            1,575,557     1,590,600
       Loans receivable, gross                              21,005,666    20,671,700
       Other investments, available for sale                   248,750       248,750

     Financial liabilities:
       Deposits                                             30,457,620    29,930,700

<CAPTION>
                                                                March 31, 1999
                                                         ---------------------------
                                                            Carrying         Fair
                                                             Amount          Value
                                                         -------------    ----------
     <S>                                                 <C>              <C>
     Financial assets:
       Cash and cash equivalents                          $  8,139,147     8,139,147
       Mortgage-backed securities                              937,938       954,000
       Loans receivable, gross                              21,539,295    22,071,300
       Other investments, available for sale                   270,000       270,000

     Financial liabilities:
       Deposits                                             26,429,517    26,239,200
</TABLE>

                                     F-22
<PAGE>

18)  Condensed Parent Company Only Financial Statements
     --------------------------------------------------

     The following condensed statements of financial condition, as of March 31,
     2000 and 1999, and condensed statements of income and cash flows for the
     years ended March 31, 2000, 1999 and 1998 for West Town Bancorp, Inc.
     should be read in conjunction with the consolidated financial statements
     and the notes thereto.

                       Statements of Financial Condition
                       ---------------------------------

                                                         March 31,
                                               --------------------------
                                                  2000             1999
                                                  ----             ----
     Assets
     ------
     Cash and cash equivalents                 $   347,614        548,783
     Loans receivable                              305,397        205,965
     Other investments, available for sale         248,750        270,000
     Accrued interest receivable                     3,033          6,231
     Equity investment in subsidiaries           3,394,518      3,353,718
     Other assets                                    4,847         24,391
                                               -----------    -----------

                                                 4,304,159      4,409,088
                                               ===========    ===========
     Liabilities and Stockholders' Equity
     ------------------------------------
     Accrued taxes and other liabilities            37,405         43,310
     Common stock                                    2,319          2,319
     Additional paid-in capital                  1,988,807      1,988,807
     Retained earnings                           2,499,062      2,437,026
     Accumulated other comprehensive income,
      net of income taxes                           31,223         44,832
     Treasury stock, at cost                      (254,657)      (107,206)
                                               -----------    -----------

                                               $ 4,304,159      4,409,088
                                               ===========    ===========



                             Statements of Income
                             --------------------

<TABLE>
<CAPTION>
                                                         Years Ended March 31,
                                                -------------------------------------
                                                    2000         1999          1998
                                                    ----         ----          ----
     <S>                                        <C>            <C>           <C>
     Interest income                             $ 57,254       56,571        63,746
     Loan fees and service charges                  1,667          633         1,208
     Non-interest expense                         (32,072)     (33,234)      (43,498)
                                                  -------      -------       -------

     Net income before income taxes and
       equity in earnings of subsidiaries          26,849       23,970        21,456
     Provision for income taxes                    (5,613)      (7,970)       (9,808)
                                                  -------      -------       -------

     Net income before equity in
       earnings of subsidiaries                    21,236       16,000        11,648
     Equity in earnings of subsidiaries            40,800      141,364       130,529
                                                  -------      -------       -------

     Net income                                 $  62,036      157,364       142,177
                                                  =======      =======       =======
</TABLE>

                                     F-23
<PAGE>

18)  Condensed Parent Company Only Financial Statements (continued)
     --------------------------------------------------------------

                           Statements of Cash Flows
                           ------------------------

<TABLE>
<CAPTION>
                                                          Years Ended March 31,
                                                   ---------------------------------
                                                     2000         1999          1998
                                                     ----         ----          ----
     <S>                                          <C>           <C>          <C>
     Operating activities:
       Net income                                 $  62,036      157,364      142,177
       Equity in earnings of subsidiaries           (40,800)    (141,364)    (130,529)
       (Increase) decrease in accrued
         interest receivable                          3,198       11,183      (16,335)
       Change in prepaid and accrued items, net      21,280        3,190       (5,991)
       Amortization of cost of
         stock benefit plan                               -            -        9,319
                                                  ---------    ---------    ---------

     Net cash provided by (for)
     operating activities                            45,714       30,373       (1,359)
                                                  ---------    ---------    ---------

     Investing activities:
       Purchase of investment securities,
         available for sale                               -     (100,000)    (100,000)
       Loan disbursements                          (286,753)    (182,736)    (531,923)
       Loan repayments                              187,321      274,164      462,433
                                                  ---------    ---------    ---------

     Net cash provided for
       investing activities                         (99,432)      (8,572)    (169,490)
                                                  ---------    ---------    ---------

     Financing activities:
       Purchase of treasury stock                  (147,451)     (25,300)     (81,906)
                                                  ---------    ---------    ---------

     Net cash provided for
     financing activities                          (147,451)     (25,300)     (81,906)
                                                  ---------    ---------    ---------

     Decrease in cash and
        cash equivalents                           (201,169)      (3,499)    (252,755)

     Cash and cash equivalents at
        beginning of period                         548,783      552,282      805,037
                                                  ---------    ---------    ---------

     Cash and cash equivalents at
        end of period                             $ 347,614      548,783      552,282
                                                  =========    =========    =========
</TABLE>

                                     F-24