SECURITIES AND EXCHANGE COMMISSION

                               Washington, D.C.  20549

                                      FORM 10-Q
[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

     For the Quarterly period ended.................September 30, 2003
                                                    ------------------
[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

For the transition period from                      to
                               --------------------    -------------------
                          Commission File Number: 0-26993

                          EVERTRUST FINANCIAL GROUP, INC.
------------------------------------------------------------------------------
              (Exact name of registrant as specified in its charter)

                Washington                                  91-1613658
(State or other jurisdiction of incorporation            (I.R.S. Employer
 or organization)                                          I.D. Number)

              2707 Colby Avenue, Suite 600, Everett, Washington 98201
              -------------------------------------------------------
               (Address of principal executive offices and zip code)

                                   (425) 258-3645
              -------------------------------------------------------
               (Registrant's telephone number, including area code)

                                         NA
              -------------------------------------------------------
              (Former name, former address and former fiscal year, if
                             changed since last report)

Indicate by check whether the registrant (1) has filed all reports required to
be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

(1)   Yes   X      No
          -----       -----

Indicate by check mark whether the registrant is an accelerated filer (as
defined in Rule 12b-2 of the Exchange Act).

(1)   Yes   X      No
          -----       -----

                       APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.

Title of class:                                  As of November 3, 2003
--------------------------                       ----------------------
Common stock, no par value                              4,782,929

<PAGE>



                     EVERTRUST FINANCIAL GROUP, INC.
                            Table of Contents
                                                                         Page
PART I  -  FINANCIAL INFORMATION                                         ----

ITEM 1  -  Financial Statements. The Consolidated Financial
           Statements of EverTrust Financial Group, Inc. filed
           as a part of the report are as follows:                        1

           Consolidated Statements of Financial Condition as of
           September 30, 2003 and March 31, 2003                          1

           Consolidated Statements of Operations for the three
           and six months ended September 30, 2003 and 2002               2

           Consolidated Statements of Comprehensive Income for
           the six months ended September 30, 2003 and 2002               3

           Consolidated Statements of Changes in Equity for the
           twelve months ended March 31, 2003 and six months
           ended September 30, 2003                                       4

           Consolidated Statements of Cash Flows for the six months
           ended September 30, 2003 and 2002                              5

           Notes to Consolidated Financial Statements                     6

ITEM 2  -  Management's Discussion and Analysis of Financial Condition
           and Results of Operations                                     13

           General                                                       13

           Comparison of Financial Condition at September 30, and
           March 31, 2003                                                14

           Comparison of Operating Results for the Three Months Ended
           September 30, 2003 and 2002                                   17

           Comparison of Operating Results for the Six Months Ended
           September 30, 2003 and 2002                                   20

           Liquidity and Capital Resources                               23

ITEM 3  -  Quantitative and Qualitative Disclosures About Market Risk    24

           Asset and Liability Management and Market Risk                24

ITEM 4  -  Controls and Procedures                                       24

PART II -  OTHER INFORMATION                                             25

           Item 1.  Legal Proceedings                                    25

           Item 2.  Changes in Securities                                25

           Item 3.  Defaults upon Senior Securities                      25

           Item 4.  Submission of Matters to a Vote of Stockholders      25

           Item 5.  Other Information                                    26

           Item 6.  Exhibits and Reports on Form 8-K                     26

SIGNATURES                                                               27

<PAGE>



Part 1   Financial Information
------------------------------
Item 1   Financial Statements

                        EverTrust Financial Group, Inc.
                Consolidated Statements of Financial Condition
                    September 30, 2003 and March 31, 2003
                         (Dollar amounts in thousands)

                                                 September 30,     March 31,
                                                      2003           2003
                                                   ----------      ---------
ASSETS                                                    (Unaudited)
------

Cash and cash equivalents, including interest
  bearing deposits of $69,753 and $27,415          $   84,654      $  37,259
Securities available for sale, amortized cost
  of $57,138 and $33,807                               57,508         34,167
Securities held to maturity, fair value of
  $3,628 and $3,999                                     3,464          3,800
Federal Home Loan Bank stock, at cost                   6,502          6,334
Loans receivable, net of allowances of $8,747
  and $8,979                                          565,153        600,200
Loans held for sale, fair value of $509 and $4,813        508          4,755
Accrued interest receivable                             3,064          3,280
Premises and equipment, net                             8,427          9,074
Prepaid expenses and other assets                       5,273          7,294
                                                   ----------      ---------
        Total Assets                               $  734,553      $ 706,163
                                                   ==========      =========

LIABILITIES AND EQUITY
----------------------

LIABILITIES:
  Deposit accounts                                 $  542,394      $ 508,269
  Federal Home Loan Bank advances and
    other borrowings                                   91,308        100,984
  Accounts payable and other liabilities                6,774          5,215
                                                   ----------      ---------
        Total Liabilities                             640,476        614,468

COMMITMENTS AND CONTINGENCIES

EQUITY:
  Common stock - no par value, 49,000,000
    shares authorized, 4,836,929 shares and
    4,834,779 shares outstanding at September
    30, 2003 and March 31, 2003, respectively          30,600         30,613
  Employee Stock Ownership Plan (ESOP) debt              (396)          (396)
  Retained earnings                                    64,497         62,542
  Shares held in trust for stock-related
    compensation plans                                   (868)        (1,301)
  Accumulated other comprehensive income                  244            237
                                                   ----------      ---------
        Total Equity                                   94,077         91,695
                                                   ----------      ---------
  Total Liabilities and Equity                     $  734,553      $ 706,163
                                                   ==========      =========

                                         1

<PAGE>



                         EverTrust Financial Group, Inc.
                     Consolidated Statements of Operations
         For the Three and Six Months Ended September 30, 2003 and 2002
            (Dollar amounts in thousands, except per share amounts)

                                 Three Months Ended        Six Months Ended
                                     September 30,           September 30,
                                 2003          2002        2003         2002
                             ----------   ----------   ----------  ----------
                                    (Unaudited)               (Unaudited)
INTEREST INCOME:
  Loans receivable           $   10,056   $   10,658   $   20,562  $   21,467
 Investment securities:
   Taxable interest income          508          730          950       1,465
   Tax-exempt interest income        41           53           84         112
   Dividend income                   86          100          172         199
                             ----------   ----------   ----------  ----------
     Total investment
       security income              635          883        1,206       1,776
                             ----------   ----------   ----------  ----------
     Total interest income       10,691       11,541       21,768      23,243
INTEREST EXPENSE:
  Deposit accounts                3,064        3,474        6,161       6,910
  Federal Home Loan Bank
    advances and other
    borrowings                    1,240        1,481        2,525       2,996
                             ----------   ----------   ----------  ----------
     Total interest expense       4,304        4,955        8,686       9,906
                             ----------   ----------   ----------  ----------
     Net interest income          6,387        6,586       13,082      13,337
PROVISION FOR LOAN LOSSES             -            -          175         190
                             ----------   ----------   ----------  ----------
  Net interest income after
    provision for loan losses     6,387        6,586       12,907      13,147
NONINTEREST INCOME:
  Loan service fees                 644          605        1,339       1,096
  Gain on sale of securities          -           49            2          49
  Gain on sale of loans             158          161          459         298
  Other, net                        667          603        1,313       1,099
                             ----------   ----------   ----------  ----------
     Total noninterest income     1,469        1,418        3,113       2,542
                             ----------   ----------   ----------  ----------
NONINTEREST EXPENSES:
  Salaries and employee benefits  2,984        3,123        6,136       6,144
  Occupancy and equipment           742          783        1,452       1,587
  Information processing costs      382          363          758         720
  Other, net                      1,043        1,218        2,010       2,447
                             ----------   ----------   ----------  ----------
     Total noninterest expenses   5,151        5,487       10,356      10,898
                             ----------   ----------   ----------  ----------
     Earnings before federal
       income taxes               2,705        2,517        5,664       4,791
FEDERAL INCOME TAXES              1,408          713        2,402       1,356
                             ----------   ----------   ----------  ----------
NET INCOME                   $    1,297   $    1,804   $    3,262  $    3,435
                             ==========   ==========   ==========  ==========
Net income per common
  share - basic              $     0.28   $     0.38   $     0.70  $     0.72
                             ==========   ==========   ==========  ==========
Net income per common
  share - diluted            $     0.26   $     0.36   $     0.65  $     0.68
                             ==========   ==========   ==========  ==========
Weighted average shares
  outstanding - basic         4,661,763    4,722,660    4,661,109   4,762,305

Weighted average shares
  outstanding - diluted       4,963,722    5,035,388    4,986,237   5,060,915

Dividends paid per share     $    0.150   $    0.115   $    0.270  $    0.230

                                              2

<PAGE>



                       EverTrust Financial Group, Inc.
               Consolidated Statements of Comprehensive Income
             For the Six Months Ended September 30, 2003 and 2002
                        (Dollar amounts in thousands)

                                                       2003           2002
                                                     --------       --------
                                                           (Unaudited)
NET INCOME                                           $  3,262       $  3,435
OTHER COMPREHENSIVE INCOME, net of income taxes:
  Gross unrealized gain (loss) on securities:
    Unrealized holding gain (loss) during the
      period, net of deferred income tax
      expense (benefit) of $7 and $14                      10            (28)
    Less adjustment of gains included in net
      income, net of income tax of $(2) and $9             (3)            17
                                                     --------       --------
    Other comprehensive income                              7            (11)
                                                     --------       --------
COMPREHENSIVE INCOME                                 $  3,269       $  3,424
                                                     ========       ========

                                         3

<PAGE>



<PAGE>
<TABLE>
                             EverTrust Financial Group, Inc.
                      Consolidated Statements of Changes in Equity
   For the Twelve Months Ended March 31, 2003 and Six Months Ended September 30, 2003
                        (Dollar amounts in thousands, Unaudited)

                                                                       Shares held
                                                                      in trust for   Accumulated
                            Common Stock         Debt                 stock-related      other
                                                related    Retained   compensation   comprehensive
                          Shares      Amount    to ESOP    Earnings       plans         Income      Total
                        ---------   --------    ------     --------    ---------       -------    --------

                     <c>         <c>         <c>        <c>         <c>             <c>        <c>
BALANCE, April 1, 2002  5,170,569   $ 37,390    $  (792)   $ 58,019    $  (2,167)      $   374    $ 92,824
                        ---------   --------    ------     --------    ---------       -------    --------
 Common stock
  repurchased            (375,493)    (7,664)                                                       (7,664)
Common stock options
 exercised                 39,703        479                                                           479
Tax benefit from stock
 options exercised                       143                                                           143
Repayment of ESOP debt                              396                                                396
ESOP activity- Change in
 value of shares commit-
 ted to be released                      265                                                           265
Amortization of com-
 pensation related to
 Management Recognition
 Plan (MRP)                                                                  866                       866
Net income                                                    6,841                                  6,841
Dividends paid                                               (2,318)                                (2,318)
Other comprehensive
 income, net of income
 taxes                                                                                    (137)       (137)
                        ---------   --------    ------     --------    ---------       -------    --------
BALANCE, March 31, 2003 4,834,779   $ 30,613    $ (396)    $ 62,542    $  (1,301)      $   237    $ 91,695
                        =========   ========    ======     ========    =========       =======    ========
Common stock re-
 purchased                 (5,100)      (128)                                                         (128)
Common stock options
 exercised                  7,250        115                                                           115
Amortization of compen-
 sation related to
 Management Recognition
 Plan (MRP)                                                                  433                       433
 Net income                                                   3,262                                  3,262
 Dividends paid                                              (1,307)                                (1,307)
 Other comprehensive
  income, net of
  income taxes                                                                               7           7
                        ---------   --------    ------     --------    ---------       -------    --------
BALANCE, September 30,
 2003                   4,836,929   $ 30,600    $ (396)    $ 64,497    $    (868)      $   244    $ 94,077
                        =========   ========    ======     ========    =========       =======    ========

</TABLE>
                                                                4

<PAGE>



               EverTrust Financial Group, Inc and Subsidiaries
             Consolidated Statements of Cash Flows (In thousands)
              For the Six Months Ended September 30, 2003 and 2002

                                                        2003         2002
                                                    ----------    ----------
OPERATING ACTIVITIES:
  Net income                                        $    3,262    $    3,435
  Adjustments to reconcile net income to net cash
      provided (used) by operating activities:
    Depreciation and amortization of premises
      and equipment                                        813           900
    Dividends on Federal Home Loan Bank stock and
      accretion of investment security discounts          (350)         (330)
    Gain on sale of premises and equipment                   -            (7)
    Amortization of investment security premiums           205            27
    Loss on limited partnership                              -            54
    Provision for losses on loans                          175           190
    Amortization of deferred loan fees and costs        (1,489)       (1,064)
    Loan fees deferred                                   1,106           770
    Proceeds from sale of loans                         24,724        24,088
    Loans originated for sale                          (20,477)      (34,368)
    Deferred taxes                                         450           (37)
    Amortization of compensation related to MRP            433           433
    Changes in operating assets and liabilities:
      Accrued interest receivable                          216           201
      Prepaid expenses and other assets                  1,679           (30)
      Accounts payable and other liabilities             1,559           318
                                                    ----------    ----------

  Net cash provided (used)  by operating activities     12,306        (5,420)
                                                    ----------    ----------
INVESTING ACTIVITIES:
  Proceeds from maturities of securities available
    for sale                                            10,622         2,030
  Proceeds from maturities of securities held to
    maturity                                               335           791
  Proceeds from sale of securities available for sale    3,561        20,079
  Purchases of securities available for sale           (37,535)      (12,673)
  Loan principal payments                              261,457       137,738
  Loans originated or acquired                        (226,202)     (118,637)
  Proceeds from sales of reaquired assets and OREO           -           524
  Investment in limited partnership                       (112)            -
  Net additions to premises and equipment                 (166)         (482)
                                                    ----------    ----------

  Net cash provided (used) by investing activities      11,960        29,370
                                                    ----------    ----------

FINANCING ACTIVITIES:
  Net increase in deposit accounts                      34,125        30,973
  Proceeds from stock options exercised                    115             -
  Repurchase shares of common stock                       (128)       (3,178)
  Dividends paid on common stock                        (1,307)       (1,156)
  Repayment of other borrowings                              -       (12,050)
  Proceeds from Federal Home Loan Bank advances         18,200        25,850
  Repayments of Federal Home Loan Bank advances        (27,876)      (34,277)
                                                    ----------    ----------

  Net cash provided by financing activities             23,129         6,162
                                                    ----------    ----------

NET INCREASE (DECREASE) IN CASH AND
  CASH EQUIVALENTS                                      47,395        30,112

CASH AND CASH EQUIVALENTS:
  Beginning of period                                   37,259        19,166
                                                    ----------    ----------
  End of period                                     $   84,654    $   49,278
                                                    ==========    ==========

SUPPLEMENTAL DISCLOSURES OF CASH FLOW
    INFORMATION:
  Cash paid during the year for:
    Interest on deposits                            $    6,161    $    6,958
    Federal income taxes                            $    1,565    $    1,320
    Interest on borrowings                          $    2,577    $    3,017

                                         5

<PAGE>



                       EverTrust Financial Group, Inc.
                  Notes to Consolidated Financial Statements
                      Six Months Ended September 30, 2003
                                 (Unaudited)

Note 1 - Basis of Presentation
------------------------------

The unaudited consolidated financial statements of EverTrust Financial Group,
Inc. (EverTrust or the Company) and its subsidiaries reflect all adjustments
which are, in the opinion of management, necessary to present fairly the
statements of financial position and results of operations for the interim
periods presented. All such adjustments are of a normal recurring nature. The
consolidated financial statements include EverTrust's wholly owned
subsidiaries, EverTrust Bank (EverTrust Bank or Bank) and Mutual Bancshares
Capital Inc. (MB Cap). All significant intercompany accounts and transactions
have been eliminated in consolidation.

The balance sheet data as of March 31, 2003 was derived from audited financial
statements, but does not include all disclosures which have been omitted
pursuant to the rules and regulations of the Securities and Exchange
Commission (SEC) rules pertaining to the presentation of interim financial
statements. The results of operations for the six months ended September 30,
2003  are not necessarily indicative of the results which may be expected for
the entire year. It is suggested that these consolidated financial statements
and notes are read in conjunction with the consolidated financial statements
and notes included in EverTrust's Form 10-K filed with the SEC on June 17,
2003.

Note 2 - Recent Events
----------------------

In September 2003, the Company completed the consolidation and closure of one
of it's Arlington, WA.'s (Smokey Point) branches into it's nearby Marysville,
WA. branch, a move designed to improve the efficiency of branch operations. In
addition, the Company opened a loan production office in Portland, OR. The
Portland office is part of the Commercial Real Estate Group.

Note 3 - Stock Repurchases
--------------------------

In January 2003, the Company announced an eighth repurchase plan of up to
490,000 shares, or 10%, of the Company's outstanding common stock. The Company
repurchased 5,100 shares during the quarter ended September 30, 2003,  leaving
a balance of 393,650 shares to be repurchased under the current plan. The
Company has now repurchased a total of 4.2 million shares since its initial
plan was approved in January 2000.

Note 4 - Earnings per share
---------------------------

Earnings per share (EPS) is computed using the weighted average number of
common and diluted shares outstanding during the period. Basic EPS 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 occurs if securities or other contracts to issue
common stock were exercised or converted into common stock. The only
reconciling items after the calculation of basic EPS are the inclusion of
stock options and restricted stock awards, which increase the shares
outstanding in diluted EPS by 301,959 and 312,728 for the three months ended
September 30, 2003 and 2002, respectively, and 325,128 and 298,610 for the six
months ended September 30, 2003 and 2002, respectively.

The Company applies Accounting Principles Board Opinion No. 25, Accounting for
Stock Issued to Employees, and related interpretations in accounting for it's
stock options. Accordingly, no compensation cost has been recognized for the
Company's option plan since the exercise price of all options has been equal
to the fair value of the Company's stock at the grant date.  Had compensation
costs for the Company's compensation plan been determined consistent with
Statement of Financial Accounting Standards (SFAS) No. 123, Accounting for
Stock-Based Compensation, the Company's net income attributable to common
stock would have been reduced by $54,000 and $130,000 for the three and six
months ended

                                       6

<PAGE>



September 30, 2003, respectively,  and $76,000 and $152,000 for the three and
six months ended September 30, 2002, respectively. Net income per share for
basic would have decreased  by $.01 and $.03 for the three and six months
ended September 30, 2003, and September 30, 2002, respectively.

Net income per share for diluted would have decreased by $.01 and $.02 for the
three and six months ended September 30, 2003 compared to $.02 and $.03 for
the same periods in 2002, respectively.

                                                For the Three Months Ended
                                               -----------------------------
(In thousands, except per share amounts)       September 30,   September 30,
                                                   2003            2002
                                               -------------   -------------

Net income as reported                            $ 1,297         $ 1,804
Stock based employee compensation expense,
  net of tax                                          (54)            (76)
                                               -------------   -------------
Pro forma net income                              $ 1,243         $ 1,728
Basic earnings per share:
  As reported                                        0.28            0.38
  Pro forma                                          0.27            0.37

Diluted earnings per share:
  As reported                                        0.26            0.36
  Pro forma                                          0.25            0.34

                                                  For the Six Months Ended
                                               -----------------------------
(In thousands, except per share amounts)       September 30,   September 30,
                                                   2003            2002
                                               -------------   -------------

Net income as reported                            $ 3,262         $ 3,435
Stock based employee compensation expense,
  net of tax                                         (130)           (152)
                                               -------------   -------------
Pro forma net income                              $ 3,132         $ 3,283
Basic earnings per share:
  As reported                                        0.70            0.72
  Pro forma                                          0.67            0.69

Diluted earnings per share:
  As reported                                        0.65            0.68
  Pro forma                                          0.63            0.65


Note 5 -  Lines of Business
---------------------------

Beginning April 1, 2003, the Company began managing the activities of
EverTrust Bank under the following lines of business: Business and private
banking (including ETAM), the real estate lending group, and the retail
banking division. Prior to April 1, 2003 the Company reported EverTrust Bank
under two lines of business, the Bank's retail operations and the Bank's
business banking group. Results for the three months and six ended September
30, 2002 remain in the previous format as an accurate restatement is not
possible.

The operating results of the holding company and MB Cap have been included in
Other for both periods. Their results are not significant when taken on an
individual basis.

                                        7
<PAGE>


<PAGE>
<TABLE>

Financial highlights by lines of business are as follows (in thousands):

                                                Three Months Ended September 30, 2003
                            --------------------------------------------------------------------------
                             The Bank's     The Bank's
                           business and     real estate     The Bank's
                         private banking     lending          retai1
                              group           group          division     Other    Eliminations     Total
                            --------        --------         --------   --------     --------     --------

                         <c>             <c>              <c>        <c>          <c>          <c>
Condensed income
statement:
Net interest income
  after provision for
  loan losses               $    579        $  4,300         $  1,455   $     53     $      -     $  6,387
Other income                     386             473              623      2,142       (2,155)       1,469
Other expense                  1,102             782            2,615        665          (13)       5,151
                            --------        --------         --------   --------     --------     --------

Income before income taxes      (137)          3,991             (537)     1,530       (2,142)       2,705
Income taxes                     (49)          1,414             (190)       233            -        1,408
                            --------        --------         --------   --------     --------     --------

Net Income                  $    (88)       $  2,577         $   (347)  $  1,297     $ (2,142)    $  1,297
                            ========        ========         ========   ========     ========     ========

Total assets                $ 55,256        $445,174         $226,651   $ 98,115     $(90,643)    $734,553
                            ========        ========         ========   ========     ========     ========

</TABLE>

<TABLE>
                                                Three Months Ended September 30, 2002
                               ---------------------------------------------------------------------
                                               The Bank's
                               The Bank's     business and
                                 retail     private banking
                                division          group        Other      Eliminations      Total
                               ----------       --------     --------     ------------    ----------

                            <c>              <c>          <c>            <c>           <c>
Condensed income statement:

Net interest income after
  provision for loan losses    $    5,957       $    564     $     68       $     (4)     $    6,586
Other income                        1,274            158        2,217         (2,231)          1,418
Other expense                       4,066            683          755            (18)          5,487
                               ----------       --------     --------       --------      ----------

Income before income taxes          3,165             39        1,530         (2,217)          2,517
Income taxes                          898             12         (197)             -             713
                               ----------       --------     --------       --------      ----------

Net Income                     $    2,267       $     27     $  1,727       $ (2,217)     $    1,804
                               ==========       ========     ========       ========      ==========

Total assets                   $  618,065       $ 60,672     $ 96,925       $(89,516)     $  686,146
                               ==========       ========     ========       ========      ==========

</TABLE>
                                                                 8

<PAGE>

<TABLE>
                                                Six Months Ended September 30, 2003
                            --------------------------------------------------------------------------
                             The Bank's     The Bank's
                           business and     real estate     The Bank's
                         private banking     lending          retai1
                              group           group          division     Other    Eliminations     Total
                            --------        --------         --------   --------     --------     --------

                         <c>             <c>              <c>        <c>          <c>          <c>
Condensed income
statement:
Net interest income
  after provision for
  loan losses               $  1,256        $  8,246         $  3,290   $    115     $      -     $ 12,907
Other income                     787             954            1,398      4,513       (4,539)       3,113
Other expense                  2,172           1,723            5,146      1,341          (26)      10,356
                            --------        --------         --------   --------     --------     --------

Income before income taxes      (129)          7,477             (458)     3,287       (4,513)       5,664
Income taxes                     (45)          2,579             (158)        25            -        2,402
                            --------        --------         --------   --------     --------     --------

Net Income                  $    (84)       $  4,898         $   (300)  $  3,262     $ (4,513)    $  3,262
                            ========        ========         ========   ========     ========     ========

Total assets                $ 55,256        $445,174         $226,651   $ 98,115     $(90,643)    $734,553
                            ========        ========         ========   ========     ========     ========
</TABLE>

<TABLE>
                                                  Six Months Ended September 30, 2002
                               ---------------------------------------------------------------------
                                               The Bank's
                               The Bank's     business and
                                 retail     private banking
                                division          group        Other      Eliminations      Total
                               ----------       --------     --------     ------------    ----------

                            <c>              <c>          <c>            <c>           <c>
Condensed income statement:

Net interest income after
  provision for loan losses    $   11,947       $  1,059     $    145       $     (4)     $   13,147

Noninterest income                  2,309            244        4,288         (4,299)          2,542
Noninterest expense                 8,075          1,331        1,523            (31)         10,898
                               ----------       --------     --------       --------      ----------

Income before federal income taxes  6,181            (28)       2,910         (4,272)          4,791
Income taxes                        1,754             (7)        (391)             -           1,356
                               ----------       --------     --------       --------      ----------

Net Income                     $    4,427       $    (21)    $  3,301       $ (4,272)     $    3,435
                               ==========       ========     ========       ========      ==========

Total assets                   $  618,065       $ 60,672     $ 96,925       $(89,516)     $  686,146
                               ==========       ========     ========       ========      ==========

</TABLE>

                                                                  9

<PAGE>



Note 6 - Additional Information Regarding Investment Securities
---------------------------------------------------------------

The following table sets forth the composition of EverTrust's  investment
portfolio at the dates indicated (in thousands):

                                 September 30, 2003        March 31, 2003
                                --------------------    --------------------
                                Amortized       Fair    Amortized       Fair
                                   Cost        Value      Cost         Value
                                   ----        -----      ----         -----
Available for sale:
Investment securities:
  U.S. Government Agency
   obligations                  $  24,083    $  24,266  $  15,246   $  15,479
  Corporate obligations                 -            -        500         501
  Municipal obligations             2,276        2,302      2,346       2,382
  Equity securities                   839          719      1,642       1,270
  Certificates of deposit           3,000        3,000          -           -
                                ---------    ---------  ---------   ---------
  Mortgage-backed securities       26,940       27,220     14,073      14,535
                                =========    =========  =========   =========
    Total available for sale    $  57,138    $  57,508  $  33,807   $  34,167
                                =========    =========  =========   =========
Held to Maturity:
Investment securities:
  U.S. Government Agency
   obligations                  $   1,002    $   1,084  $   1,002   $   1,111
  Corporate obligations                 -            -          -           -
  Municipal obligations             2,092        2,150      2,402       2,465
  Certificates of deposit               -            -          -           -
  Mortgage-backed securities          370          394        396         423
                                ---------    ---------  ---------   ---------
    Total held to maturity      $   3,464    $   3,628  $   3,800   $   3,999
                                =========    =========  =========   =========

  Total                         $  60,602    $  61,136  $  37,607   $  38,166
                                =========    =========  =========   =========

U.S.  Government Agency obligations increased $8.9 million at cost from $16.2
million at March 31, 2003 to $25.1 million at September 30, 2003.
Mortgage-backed securities increased $12.8 million at cost from $14.5 million
at March 31, 2003 to $27.3 million at September 30, 2003. The increase in both
investments reflects the Company's desire to enhance the investment portfolio
with shorter term, lower risk securities. The Company will continue to look to
invest excess cash over the next several months in high quality investments
and loans.

At September 30, 2003 equity securities were comprised of, at cost, $611,000
($491,000 fair value) in common stock of publicly traded companies and
$228,000 ($228,000 fair value) in money market mutual funds.

                                      10

<PAGE>



Note 7 - Additional Information Regarding Federal Home Loan Bank advances and
-----------------------------------------------------------------------------
         other borrowings
-------------------------

The following table sets forth maturity detail on EverTrust's Federal Home
Loan Bank advances and other borrowings (in thousands):

                                       September 30, 2003    March 31, 2003
                                       ------------------    --------------
     Nonamortizing:
       Due within 1 year                    $  18,550           $  19,400
       After 1 year through 2 years            20,150              18,750
       After 2 years through 3 years           16,600              17,900
       After 3 years through 5 years           22,200              26,700
       After 5 years through 10 years          11,100              15,300
       After 10 years                           2,100               2,300
     Amortizing:
       After 10 years                             608                 634
                                            ---------           ---------
                                            $  91,308           $ 100,984
                                            =========           =========

At September 30, 2003, the Bank had $47.0 million available in unsecured lines
of credit with the commercial banks compared to $47.0 million at March 31,
2003. At September 30, 2003 there were no advances on the lines of credit with
commercial banks. In addition, the Bank has a revolving line of credit with
the FHLB of up to 35% of total assets or the Bank's available collateral,
whichever is less.

Note 8 - Recently Issued Accounting Standards
---------------------------------------------

In May 2003, the Financial Accounting Standards Board ("FASB") issued
Statement of Financial Accounting Standards ("SFAS") No. 150, "Accounting for
Certain Financial Instruments with characteristics of both Liabilities and
Equity."  The statement establishes standards for classifying and measuring
certain financial instruments that embody obligations of the issuer and have
characteristics of both liabilities and equity as liabilities. SFAS 150 is
effective for instruments entered into or modified after May 31, 2003. The
adoption of SFAS No. 150 did not materially impact the Company's consolidated
results of operations, financial position, or cash flows.

In April 2003, the FASB issued SFAS No. 149, "Amendment of Statement 133 on
Derivative Instruments and Hedging Activities." SFAS No. 149 amends and
clarifies accounting for derivative instruments, including certain derivative
instruments embedded in other contracts, and for hedging activities under SFAS
No. 133. The new guidance amends SFAS No. 133 for decisions made as part of
the Derivatives Implementation Group ("DIG") process that effectively required
amendments to SFAS No. 133, and decisions made in connection with other FASB
projects dealing with financial instruments and in connection with
implementation issues raised in relation to the application of the definition
of a derivative and characteristics of a derivative that contains financing
components. In addition, it clarifies when a derivative contains a financing
component that warrants special reporting in the statement of cash flows. SFAS
No. 149 is effective for contracts entered into or modified after September
30, 2003, and for hedging relationships designated after June 30, 2003. The
adoption of SFAS No. 149 did not have any impact on the Company's financial
statements.

In January 2003, the FASB issued Financial Accounting Standards Board
Interpretation ("FIN") No. 46, Consolidation of Certain Variable Interest
Entities An Interpretation of ARB No. 51, to clarify when an entity should
consolidate another entity known as a Variable Interest Entity ("VIE"), more
commonly referred to as a special purpose entity or SPE. A VIE is an entity in
which equity investors do not have characteristics of a controlling financial
interest or do not have sufficient equity at risk for the entity to finance
its activities without additional subordinated financial support from other
parties, and may include many types of SPEs. FIN No. 46 requires that an
entity shall consolidate a VIE if that enterprise has a variable interest that
will absorb a majority of the VIE's expected losses if they occur, receive a
majority of the VIE's expected residual returns if they occur, or both. FIN
No. 46 is effective for newly created VIEs beginning

                                           11

<PAGE>



February 1, 2003, and for existing VIEs as of the third quarter of 2003. The
adoption of FIN No. 46 did not have a material effect on the Company's
financial statements.

In December 2002, the FASB issued SFAS No. 148, Accounting for Stock-Based
Compensation Transition and Disclosure. SFAS No. 148 amends SFAS No. 123 to
provide alternative methods of transition for a voluntary change to the fair
value based method of accounting for stock-based employee compensation. In
addition, SFAS No. 148 amends the disclosure requirements of SFAS No. 123 to
require prominent disclosures in both annual and interim financial statements
about the method of accounting for stock-based employee compensation and the
effect of the method used on reported results. The provisions of SFAS No. 148
are effective for financial statements for fiscal years and interim periods
ending after December 15, 2002. The disclosure provisions of SFAS No. 148 have
been adopted by the Company (see Note 1). SFAS No. 148 did not require the
Company to change to the fair value based method of accounting for stock-based
compensation.

In November 2002, the FASB issued FIN No. 45, Guarantor's Accounting and
Disclosure Requirements for Guarantees, Including Indirect Guarantees of
Indebtedness of Others, which requires the guarantor to recognize as a
liability the fair value of the obligation at the inception of the guarantee.
The disclosure requirements in FIN No. 45 are effective for financial
statements of interim or annual periods ending after December 15, 2002.
Management believes that the Company has no material guarantees that are
required to be disclosed in the financial statements. The recognition
provisions are to be applied on a prospective basis to guarantees issued after
December 31, 2002. The adoption of the recognition provisions of FIN No. 45
has not had a material impact on the Company's financial statements.

In October 2002, the FASB issued SFAS No. 147, Acquisitions of Certain
Financial Institutions. SFAS No. 147 allows financial institutions meeting
certain criteria to reclassify unidentifiable intangible asset balances to
goodwill and cease amortization. SFAS No. 147 is generally effective as of
October 31, 2002. The adoption of SFAS No. 147 did not materially impact the
Company's financial statements.

In June 2002, the FASB issued SFAS No. 146, Accounting for Costs Associated
with Exit or Disposal Activities. SFAS No. 146 requires recording costs
associated with exit or disposal activities when a liability has been
incurred. Under previous guidance, certain exit costs were accrued upon
management's commitment to an exit plan, which is generally before an actual
liability has been incurred. SFAS No. 146 is effective for exit or disposal
activities initiated after December 31, 2002. The adoption of SFAS No. 146 has
not had a material effect on the Company's financial statements.

In April 2002, the FASB issued Statement No. 145, Rescission of FASB
Statements No. 4, 44, and 64, Amendment of FASB Statement No. 13, and
Technical Corrections. SFAS No.145 eliminates extraordinary accounting
treatment for reporting gain or loss on debt extinguishment and amends other
existing authoritative pronouncements to make various technical corrections,
clarify meanings, or describe their applicability under changed conditions.
The provisions of SFAS No. 145 related to the rescission of SFAS No. 4 are
effective for fiscal years beginning after May 15, 2002. The provisions
related to SFAS No. 13 are effective for transactions occurring after May 15,
2002. All other provisions are effective for financial statements issued on or
after May 15, 2002. The adoption of SFAS No. 145 did not materially impact the
Company's financial statements.

In October 2001, the FASB issued SFAS No. 144, Accounting for the Impairment
or Disposal of Long-Lived Assets, which supercedes SFAS No. 121, Accounting
for the Impairment of Long-Lived Assets and for Long-Lived Assets to Be
Disposed Of. SFAS No. 144 retains the fundamental provisions of SFAS No. 121
but sets forth new criteria for asset classification and broadens the scope of
qualifying discontinued operations. SFAS No. 144 is effective for fiscal years
beginning after December 15, 2001. The Company adopted SFAS No. 144 on April
1, 2002. The adoption of SFAS No. 144 did not have a material impact on the
Company's financial statements.

In August 2001, the FASB issued SFAS No. 143, Accounting for Asset Retirement
Obligations, which took effect for fiscal years beginning after June 15, 2002.
SFAS No. 143 establishes the initial and subsequent accounting for legal
obligations associated with the retirement of long-lived assets that result
from the acquisition, construction, development, and/or normal operation of a
long-lived asset. The Company adopted SFAS No. 143 as of April 1, 2003. The
adoption of SFAS No. 143 did not materially impact the Company's financial
statements.

                                     12

<PAGE>



In July 2001, the FASB issued SFAS No. 141, Accounting for Business
Combinations, and SFAS No. 142, Accounting for Goodwill and Other Intangible
Assets, which were effective for the Company on April 1, 2002. SFAS No. 141
requires all business combinations initiated after September 30, 2001, to be
accounted for using the purchase method. Under SFAS No. 142, goodwill is no
longer subject to amortization over its estimated useful life but instead is
subject to an impairment assessment at least annually. The Company has not
engaged in any business combinations since the adoption of SFAS No. 141 and
does not currently have any goodwill. The adoption of SFAS No. 141 and SFAS
No. 142 have not had any effect on the Company's financial statements.

Item 2.  Management's Discussion and Analysis of Financial Condition and
Results of Operations

General. EverTrust, a Washington corporation, is primarily engaged in the
business of planning, directing and coordinating the business of its wholly
owned subsidiaries, EverTrust Bank and MB Cap. EverTrust Bank conducts
business through its 10 full service offices located throughout Snohomish
County, Washington, and branch offices in Seattle and Bellevue, King County,
Washington. EverTrust Bank considers Snohomish County and King County in
Washington, as its primary market area for making loans and attracting
deposits. On a limited basis, EverTrust Bank also makes loans in other areas
of the state. To a much lesser extent, EverTrust Bank has also made loans in
Oregon, Idaho, California, Nevada and Hawaii. Loans made in California, Nevada
and Hawaii have generally been to local borrowers of EverTrust Bank as an
accommodation for financing second homes. The Bank's principal business is
attracting deposits from the general public and using those funds to originate
commercial real estate loans as well as construction loans, business loans and
residential (including multi-family) mortgage loans. The Bank also offers
investment management and limited trust services through its wholly owned
subsidiary, EverTrust Asset Management ("ETAM"). At September 30, 2003, assets
under management at ETAM totaled $140.2 million compared to $111.9 million at
March 31, 2003.

In January 2003, the Company announced that it had reached a tentative
agreement to shift the day-to-day operations of MB Cap to a local venture
capital firm. As a result of the agreement, the sole activity of MB Cap will
be to hold its limited partnership investment. The limited partnership will be
managed by the former employees of MB Cap along with an additional venture
capitalist. The agreement has been  approved by the limited partners and is
subject to approval by regulatory authorities.

The investment in the limited partnership investment is recorded at fair value
using the equity method, based on percentage of ownership held in the limited
partnership. Such amounts were $1.3 million at September 30, 2003 compared to
$1.2 million at March 31, 2003.

                                         13

<PAGE>



Selected Financial Ratios
-------------------------

The following table sets forth certain selected financial ratios for
EverTrust.

                                        Three Months          Six Months
                                    Ended September 30,   Ended September 30,
                                    -------------------   -------------------
                                     2003         2002     2003         2002
                                     ----         ----     ----         ----
Performance Ratios:
Return on average assets(1).......   0.71%        1.06%    0.91%        1.02%
Return on average equity(2).......   5.48         7.80     6.94         7.42
Equity-to-assets ratio(3).........  13.00        13.60    13.04        13.76
Interest rate spread(4)...........   3.27         3.47     3.39         3.55
Net interest margin(5)............   3.65         3.96     3.78         4.05
Average interest-earning assets
  to average interest-bearing
  liabilities..................... 115.42       123.53   115.28       116.73
Other operating expenses as a
  percent of average total assets.   2.83         3.23     2.87         3.24
Efficiency ratio(6)...............  65.39        68.32    63.78        68.38
Non interest income as a percent
  of net revenue(7)...............  18.70        17.72    19.22        16.01

---------
(1)  Net earnings divided by average total assets.
(2)  Net earnings divided by average equity.
(3)  Average equity divided by average total assets.
(4)  Difference between weighted average yield on interest-earning assets and
     weighted average rate on interest-bearing liabilities.
(5)  Net interest income as a percentage of average interest-earning assets.
(6)  Total other operating expenses divided by total net interest income (on a
     tax-equivalent basis) before provision for loan losses plus total other
     operating income.
(7)  Non interest income divided by net interest income plus non interest
     income.

Comparison of Financial Condition at September 30, and March 31, 2003
---------------------------------------------------------------------

Total assets increased $28.4 million from $706.2 million at March 31, 2003 to
$734.6 million at September 30, 2003. Cash and cash equivalents increased
$47.4 million from $37.3 million at March 31, 2003 to $84.7 million at
September 30, 2003. The increase in cash is primarily due to the unusually
large amount of loan repayments and will be used in the next several months to
purchase investments and to fund future growth in the loan portfolio.

The investment portfolio (including Federal Home Loan Bank stock) increased
$23.2 million, or 52.3%, from $44.3 million at March 31, 2003 to $67.5 million
at September 30, 2003. The increase was due to purchases of U.S. government
agency securities available for sale and Mortgage-backed securities.

Loans receivable, including loans held for sale, decreased $39.3 million, or
6.5%, from $605.0 million at March 31, 2003 to $565.7 million at September 30,
2003. Despite loan originations totaling $246.7 million, loan repayments were
the primary reason for the decrease in the loan portfolio. To a lesser extent,
loan participations and loan sales also contributed to the decline.
Multifamily residential real estate decreased $15.9 million from $158.5
million at March 31, 2003 to $142.6 at September 30, 2003 and Commercial real
estate decreased $10.5 million from $264.3 million at March 31, 2003 to $253.8
at September 30, 2003. Both groups of loans decreased primarily due to loan
repayments. This decrease was offset in part by a $7.4 million increase in the
commercial construction portfolio from $33.6 million at March 31, 2003 to
$41.0 million at September 30, 2003. Business loans decreased $15.5 million as
the Company took deliberate steps to reduce its credit risk by shedding $21
million of loans that had fallen outside its credit risk tolerance.
Loan participations to other banks totaled $56.9 million for the six months
ended September 30, 2003. Loans held for sale at September 30, 2003 were
$508,000, compared to $4.8 million at March 31, 2003.  The decline reflects a
sharp

                                     14

<PAGE>



slowdown in one- to four- family refinancing activity caused by the upward
movement in mortgage rates late in the quarter ended September 30, 2003.

The following table provides additional detail on EverTrust's loans (in
thousands):

                                      September 30, 2003      March 31, 2003
                                     -------------------    -----------------
                                      Amount     Percent     Amount   Percent
                                     --------    -------    --------  -------

Commercial construction              $ 40,974       7.1%   $  33,577     5.5%
Commercial real estate                253,846      43.9      264,313    43.1
Multifamily construction               11,177       1.9        8,325     1.4
Multifamily residential               142,619      24.7      158,554    25.8
Business loans                         24,868       4.3       40,407     6.6
One to four family construction
  and land development                 59,338      10.3       57,601     9.4
Consumer:
  Home equity and second mortgages     23,199       4.0       23,006     3.7
  Credit cards                            792       0.1          712     0.1
  Other installment loans               2,653       0.5        3,263     0.5
One to four family residential         18,598       3.2       23,968     3.9
                                     --------     -----     --------   -----
                                      578,064     100.0%     613,726   100.0%
                                     --------               --------
Less:
  Deferred loan fees and other         (4,164)                (4,547)
  Reserve for loan losses              (8,747)                (8,979)
                                     --------               --------
                                      (12,911)               (13,526)
                                     --------               --------
      Loans receivable, net          $565,153               $600,200
                                     ========               ========

      Loans held for sale            $    508               $  4,755
                                     ========               ========

At September 30, 2003, EverTrust had $586,000 in loans accounted for on a
non-accrual basis compared to approximately $24,000 at March 31, 2003. The
non-accrual loan balance at September 30, 2003 consists of eight loans that
may or may not be collected on in the future. The following table provides a
roll-forward of EverTrust's allowance for loan losses by quarter beginning
with the quarter ended September 30, 2002 (in thousands):

Allowance for Loan Losses                     Quarter ended
                            ------------------------------------------------
                            9/30/03   6/30/03   3/31/03   12/31/02   9/30/02
                            -------   -------   -------    -------   -------
Allowance at beginning
  of period                 $ 9,086   $ 8,979   $ 9,036    $ 8,857   $ 8,917
Provision for loan losses         -       175         -        200         -
Charge-offs                    (353)      (73)      (57)       (21)      (60)
Recoveries                       14         5         -          -         -
                            -------   -------   -------    -------   -------
  Balances at end of period $ 8,747   $ 9,086   $ 8,979    $ 9,036   $ 8,857
                            =======   =======   =======    =======   =======

Charge-offs for the quarter ended September 30, 2003, were primarily the
result of a $344,000 write-off for loans to a manufacturing company that
abruptly ceased operations.  No significant recoveries are anticipated from
the write-off at this time.

                                       15
<PAGE>



The following table sets forth certain asset quality ratios for EverTrust.

                                        Three Months           Six Months
                                      Ended September 30,  Ended September 30,
                                      -------------------  -------------------
                                         2003      2002      2003       2002
                                         ----      ----      ----       ----
Asset Quality Ratios:
Nonaccrual and 90 days or more
  past due loans as a percent of
  total loans, net.................      0.13%     0.06%
Nonperforming assets as a percent
  of total assets..................      0.10      0.05
Allowance for losses as a percent
  of gross loans receivable........      1.52      1.54
Allowance for loan losses as
  a percent of nonperforming loans.  1,179.73  2,694.86
Net charge-offs (recoveries) to
  average outstanding loans........      0.06      0.01      0.07      0.02

Total deposits of EverTrust increased by approximately $34.1 million, or 6.7%,
from $508.3 million at March 31, 2003 to $542.4 million at September 30, 2003.
The change is primarily the result of increases in transaction accounts of
$21.1 million from $82.7 million at March 31, 2003 to $103.8 million at
September 30, 2003 and a $18.3 million increase in money market accounts from
$133.6 million at March 31, 2003 to $151.9 million at September 30, 2003. The
increase in deposits from March 31, 2003 to September 30, 2003 is generally
attributable to an increased emphasis in attracting business deposits and an
increased customer preference for insured deposits.

The following table sets forth the balances of deposits in the various types
of accounts offered by EverTrust at the dates indicated (dollars in
thousands):

                                  At September 30, 2003   At March 31, 2003
                                  ---------------------   -----------------
                                    Amount         %       Amount        %
                                  --------     -----      --------   -----

Noninterest-bearing accounts      $ 21,087       3.9%     $ 18,398     3.6%
Savings accounts                    12,685       2.3        12,426     2.4
Checking accounts                   82,745      15.3        64,358    12.7
Money market accounts              151,928      28.0       133,586    26.3
Time deposits by original term:
  One to 11 months                  42,086       7.8        51,334    10.1
  12 to 23 months                  116,295      21.4       118,362    23.3
  24 to 35 months                   25,020       4.6        24,842     4.9
  36 to 59 months                   22,070       4.1        22,292     4.4
  60 months and beyond              68,478      12.6        62,671    12.3
                                  --------     -----      --------   -----

                                   273,949      50.5       279,501    55.0
                                  --------     -----      --------   -----

                                  $542,394     100.0%     $508,269   100.0%
                                  ========     =====      ========   =====

Federal Home Loan Bank advances and other borrowings decreased $9.7 million
from $101.0 million at March 31, 2003 to $91.3 million at September 30, 2003.
The need for borrowings since March 31, 2003 has decreased due to an increase
in deposit balances and cash received from loan repayments.

                                         16

<PAGE>



Total equity increased approximately $2.4 million to $94.1 million at
September 30, 2003 compared to $91.7 million at March 31, 2003. Earnings of
$3.3 million for the six months ended September 30, 2003 were partially offset
by cash dividends paid of approximately $1.3 million.

Comparison of Operating Results for the Three Months Ended September 30, 2003
-----------------------------------------------------------------------------
and 2002
--------

General. Net income decreased approximately $507,000 from $1.8 million for the
three months ended September 30, 2002 to $1.3 million for the three months
ended September 30, 2003. The decrease in income is due primarily to a
$450,000 valuation allowance booked against the Company's charitable
contribution deferred tax asset. In addition, net interest income decreased
$199,000 for the three months ended September 30, 2003, compared to the three
months ended September 30, 2002. The decrease in net interest income was
partially offset by a $51,000 increase in non interest income for the three
months ended September 30, 2003 compared to the same time in 2002.

Net Interest Income. Net interest income decreased 3.0% from $6.6 million for
the three months ended September 30, 2002, to $6.4 million for the three
months ended September 30, 2003. The change is due primarily to the lower
yield on interest-earning assets and the increased volume of lower-yielding
investments.

Interest income decreased approximately $850,000 from $11.5 million for the
three months ended September 30, 2002 to $10.7 million for the same period in
2003. The average balance of interest-earning assets increased from $680.1
million for the three months ended September 30, 2002 to $728.3 million for
the three months ended September 30, 2003 resulting in an increase of
approximately $212,000 in income. The yield on interest-earning assets
decreased from 6.95% for the three months ended September 30, 2002 to 6.10%
for the same period in 2003 resulting in a decrease in income of approximately
$978,000. Increased balances were due to increased cash volumes, which were
received from loan repayments and deposit growth. The decrease in the yield on
interest-earning assets is due primarily to the lower interest rate
environment, which also resulted in the payoff of higher rate loans and
downward interest rate adjustments on variable rate loans.

Total interest expense decreased $651,000 from $5.0 million for the three
months ended September 30, 2002 to $4.3 million for the same period in 2003.
The average balance of interest-bearing liabilities increased 6.5% or $37.2
million from $569.8 million at September 30, 2002 to $607.0 million for the
three months ended September 30, 2003 resulting in an increase of $95,000 in
expense. This increase was more than offset by an $642,000 decrease in expense
as a result of a decrease in the rates on interest-bearing liabilities from
3.48% for the three months ended September 30, 2002 to 2.84% for the same
period in 2003. The reduction is due to market interest rate decreases and the
generally downward interest rate adjustments on maturing and renewed time
deposits. The average balance of borrowings comprised 15.5% of
interest-bearing liabilities for the quarter ended September 30, 2003 compared
to 20.7% for the same period in 2002.

                                         17

<PAGE>


<PAGE>
<TABLE>

The following table provides additional comparative data on the Company's average balance sheet, yield and
expense information, interest rate spread and net interest margin ratios (dollars in thousands):

                                                         Three Months Ended September 30,
                                   ------------------------------------------------------------------------
                                                  2003                                    2002
                                   ---------------------------------       --------------------------------
                                                Interest                               Interest
                                   Average        and         Yield/       Average        and        Yield/
                                   Balance      Dividends      Cost        Balance     Dividends      Cost
                                   -------      ---------      ----        -------     ---------      ----
                                                               (Dollars in Thousands)

                               <c>           <c>            <c>         <c>         <c>           <c>
Interest-earning assets:
  Loans receivable, net(1)        $ 584,289     $  10,056      6.88%       $ 583,167   $  10,658     7.31%
  Investment securities              52,444           417      3.18           48,231         678     5.62
  Federal Home Loan Bank stock        6,418            85      5.30            6,036          91     6.03
  Cash and cash equivalents          57,472           133      0.93           27,286         114     1.67
                                  ---------     ---------     -----        ---------   ---------    -----
    Total interest-earning assets   700,623        10,691      6.10          664,720      11,541     6.95
                                                ---------     -----                    ---------    -----
Noninterest-earning assets           27,699                                   15,424
                                  ---------                                ---------
    Total average assets          $ 728,322                                $ 680,144
                                  =========                                =========
Interest-bearing liabilities:
  Savings accounts                $  12,612     $      24      0.76        $  11,430   $      39     1.36
  Checking accounts                  79,308           214      1.08           57,485         214     1.49
  Money market deposit accounts     141,908           485      1.37          126,968         656     2.07
  Time deposits                     279,079         2,341      3.36          255,793       2,565     4.01
                                  ---------     ---------     -----        ---------   ---------    -----
     Total deposits                 512,907         3,064      2.39          451,676       3,474     3.08

  Borrowings                         94,088         1,240      5.27          118,075       1,481     5.02
                                  ---------     ---------     -----        ---------   ---------    -----
     Total interest-bearing
       liabilities                  606,995         4,304      2.84          569,751       4,955     3.48
                                                ---------     -----                    ---------    -----
Noninterest-bearing liabilities      26,669                                   17,863
                                  ---------                                ---------
     Total average liabilities      633,664                                  587,614

Average equity                       94,658                                   92,530
                                  ---------                                ---------
     Total liabilities and
       equity                     $ 728,322                                $ 680,144
                                  =========                                =========
Net interest income                             $   6,387                              $   6,586
                                                =========                              =========
Interest rate spread                                           3.27%                                 3.47%
                                                              =====                                 =====
Net interest margin                                            3.65%                                 3.96%
                                                              =====                                 =====
Ratio of average interest-
  earning assets to average
  interest-bearing liabilities                     115.42%                                123.53%
                                                =========                              =========
--------------
(1)  Average net loans receivable includes nonperforming loans.  Interest income does not include interest
     on non-accrual loans.

</TABLE>

Provision for Loan Losses.  Based on management's quarterly analysis of the
loan loss reserve at September 30, 2003, no addition to the loan loss
provision was required. There was also no provision expense for the three
months ended September 30, 2002. The allowance for loan losses decreased
$232,000 from $9.0 million at March 31, 2003 to $8.7 million at September 30,
2003, primarily due to net charge-offs totaling approximately $407,000. The
allowance for loan losses as a percentage of net loans (loans receivable
excluding allowance for losses) was 1.52% at September 30, 2003, 1.46% at
March 31, 2003, and 1.54% at September 30, 2002.

                                        18

<PAGE>



The allowance for losses on loans is maintained at a level sufficient to cover
losses inherent in the loan portfolio but not yet apparent to management. The
risk of loss will vary with the type of loan being made, the creditworthiness
of the borrower, general economic conditions and, in the case of a secured
loan, the quality of the security for the loan. EverTrust's management reviews
the adequacy of the allowance at least quarterly, as computed by a
consistently applied formula-based methodology, supplemented by management's
assessment of current economic conditions, past loss and collection
experience, and risk characteristics of the loan portfolio. In addition,
various regulatory agencies, as an integral part of their examination process,
periodically review the Company's allowance for loan losses. Such agencies may
require the Company to provide additions to the allowance based on judgment
different from management. Although management uses the best information
available, future adjustments to the allowance may be necessary due to
economic, operating, regulatory and other conditions beyond EverTrust's
control.

Non-interest Income.  Non-interest income increased $51,000 from $1.4 million
for the three months ended September 30, 2002 to $1.5 million for the same
period in 2003. Brokered loan fees from the Bank's commercial mortgage banking
group, management fees from ETAM and loan modification fees were $503,000 for
the three months ended September 30, 2003 compared to $532,000 for the three
months ended September 30, 2002. In addition gains on the sale of one-to-four
family loans for the three months ended September 30, 2003 were $158,000,
compared to $161,000 for the same period a year earlier.

The increase from the prior period in ETAM management fees was due to
additional assets under management. Brokered loan fees and loan modification
fees decreased slightly and may vary from quarter to quarter depending on the
level of activity.

Service fees and other non-interest income increased due to volume of
transactions.

The following table sets forth non-interest income (dollars in thousands):

                                         Three Months Ended September 30,
                                               2003             2002
                                             -------          -------

Brokered loan fees                           $   137          $   210
ETAM management fees                             236              130
Loan modification fees                           130              192
Gain on sale of securities                         -               49
Gain on sale of loans                            158              161
Service fees and other, net                      808              676
                                             -------          -------
  Total noninterest income                   $ 1,469          $ 1,418
                                             =======          =======

Non-interest Expense.  Non-interest expense decreased $336,000 from $5.5
million for the three months ended September 30, 2002 to $5.2 million for the
same period in 2003. The decrease is due primarily to lower compensation
expense and lower marketing expense due to timing of marketing activities. The
Company had 166 employees at September 30, 2003 compared to 182 employees at
September 30, 2002 with the temporary decline due to normal staff turnover.
Information processing costs increased $19,000 from $363,000 for the three
months ended September 30, 2002 to $382,000 for the same period in 2003.

The small increase is primarily the result of additional software depreciation
associated with the addition of the client contact center.

Provision for Income Taxes.  Federal income taxes increased $695,000 from
$713,000 for the three months ended September 30, 2002 to $1.4 million for the
three months ended September 30, 2003. The large increase is primarily due to
a $450,000 valuation allowance booked against the Company's charitable
contribution deferred tax asset. The deferred tax asset was generated from
contributions EverTrust made in fiscal 1999 and 2000 to its charitable
foundation.  The annual federal income tax deduction for charitable
contributions is limited to 10% of taxable income per year, and any unused
amount of the deduction can be carried forward for a period of up to five
years after the contribution is made.

                                        19

<PAGE>



At this time the Company does not believe it will be able to use the entire
amount of the tax asset.  In addition the Company's effective tax rate has
increased due to the expiration of low income housing tax credits.

Comparison of Operating Results for the Six Months Ended September 30, 2003
---------------------------------------------------------------------------
and 2002
--------

General.  Net income decreased approximately $173,000 from $3.4 million for
the six months ended September 30, 2002 to $3.3 million for the six months
ended September 30, 2003. The decrease is due primarily to the $450,000
valuation allowance and a $255,000 decrease in net interest income, offset in
part by a $571,000 increase in non-interest income.

Net Interest Income. Net interest income decreased 1.9% from $13.3 million for
the six months ended September 30, 2002 to $13.1 million for the six months
ended September 30, 2003. The change is due primarily to the lower yield on
interest earning assets.

Interest income decreased $1.5 million to $21.8 million for the six months
ended September 30, 2003, compared to  to $23.2 million for the same period in
2002. During this same time period, the average balance of interest-earning
assets increased from $658.5 million for the six months ended September 30,
2002 to $693.0 million for the six months ended September 30, 2003 resulting
in an increase of approximately $472,000 in income. The yield on
interest-earning assets decreased from 7.06% for the six months ended
September 30, 2002 to 6.28% for the same period in 2003 resulting in a
decrease to income of $1.9 million. Increased balances were due to increased
loan volumes, which were funded by the proceeds received from sales and
maturities of securities and increased borrowings. The decrease in the yield
on interest-earning assets is due primarily to the lower interest rate
environment resulting in the payoff of higher rate loans and downward interest
rate adjustments on variable rate loans.

Interest expense decreased $1.2 million for the six months ended September 30,
2003 compared to the same period in 2002. The average balance of
interest-bearing liabilities increased 6.6% or $37.1 million from $564.1
million at September 30, 2002 to $601.2 million for the six months ended
September 30, 2003 resulting in an increase of $270,000 in expense. This
increase was offset by a $1.3 million decrease in expense as a result of a
decrease in the rates on interest-bearing liabilities from 3.51% for the six
months ended September 30, 2002 to 2.89% for the same period in 2002. The
reduction is due to market interest rate decreases and the generally downward
interest rate adjustments on maturing and renewal time deposits. The average
balance of borrowings comprised 16.1% of interest-bearing liabilities for the
six months ended September 30, 2003 compared to 21.5% for the same period in
2002.

Provision for Loan Losses.  During the six months ended September 30, 2003,
the provision for loan losses was $175,000, compared to $190,000 for the same
period in 2002, a decrease of $15,000. Based on management's quarterly
analysis of the loan reserve, including the reduction of $39.3 million in net
loans receivable, including loans held for sale, since March 31, 2003. The
allowance for loan losses decreased $232,000 from $9.0 million at March 31,
2003 to $8.7 million at September 30, 2003. The allowance for loan losses as a
percentage of net loans (loans receivable excluding allowance for losses) was
1.52% at September 30, 2003, 1.46% at March 31, 2003, and 1.54% at September
30, 2002.

For additional discussion about the allowance for losses on loans, see
"Comparison of Operating Results for the Three Months Ended September 30, 2003
and 2002- Provision for Loan Losses."

Non-interest Income.  Non-interest income increased $571,000 to $3.1 million
for the six months ended September 30, 2003 compared to the same period in
2002. The growth in non-interest income was primarily the result of brokered
loan fees from the Bank's commercial mortgage banking group and  management
fees from ETAM totaling $813,000 for the six months ended September 30, 2003
compared to $580,000 for the six months ended September 30, 2002.  In addition
gains on the sale of one-to-four family loans for the six months ended
September 30, 2003 were $459,000, compared to $298,000 for the same period a
year earlier.

The increase from the prior period in ETAM management fees and brokered loan
fees from the Company's commercial mortgage banking group was due to increased
assets under management and transaction volume. The units started operations
in May and June 2001, respectively.

                                         20

<PAGE>



Gains on sale of loans increased due to additional refinancing activity caused
by the low interest rate environment. Service fees and other non-interest
income increased due to volume.

The following table sets forth non-interest income (dollars in thousands):

                                          Six Months Ended September 30,
                                              2003             2002
                                              ----             ----

Brokered loan fees                           $  368           $  328
ETAM management fees                            445              252
Loan modification fees                          295              326
Gain on sale of securities                        2               49
Gain on sale of loans                           459              298
Service fees and other, net                   1,544            1,289
                                             ------           ------
  Total noninterest income                   $3,113           $2,542
                                             ======           ======

Non-interest Expense.  Non-interest expense decreased $542,000 million from
$10.9 million for the six months ended September 30, 2002 to $10.4 million for
the same period in 2003. The decrease is due primarily to lower depreciation
expense on fully depreciated equipment and lower marketing expense due to
timing of marketing activities. Information processing costs increased $38,000
from $720,000 for the six months ended September 30, 2002 to $758,000 for the
same period in 2003.

The small increase is primarily the result of additional software depreciation
associated with the addition of the client contact center.

Provision for Income Taxes. Federal income taxes increased $1.0 million from
$1.4 million for the six months ended September 30, 2002 to $2.4 million for
the six months ended September 30, 2003. The large increase is primarily due
to a $450,000 valuation allowance booked against the Company's charitable
contribution deferred tax asset. The deferred tax asset was generated from
contributions EverTrust made in fiscal 1999 and 2000 to its charitable
foundation.  The annual federal income tax deduction for charitable
contributions is limited to 10% of taxable income per year, and any unused
amount of the deduction can be carried forward for a period of up to five
years after the contribution is made.  At this time the Company does not
believe it will be able to use the entire amount of the tax asset. In addition
the Company's effective tax rate has increased due to the expiration of low
income housing tax credits.

                                            21

<PAGE>


<PAGE>
<TABLE>

The following table provides additional comparative data on the Company's average balance sheet, yield and
expense information, interest rate spread and net interest margin ratios (dollars in thousands):

                                                         Six Months Ended September 30,
                                   ------------------------------------------------------------------------
                                                  2003                                    2002
                                   ---------------------------------       --------------------------------
                                                Interest                               Interest
                                   Average        and         Yield/       Average        and        Yield/
                                   Balance      Dividends      Cost        Balance     Dividends      Cost
                                   -------      ---------      ----        -------     ---------      ----
                                                               (Dollars in Thousands)

                               <c>           <c>            <c>         <c>         <c>           <c>
Interest-earning assets:
  Loans receivable, net(1)        $ 593,956     $  20,562      6.92%       $ 585,458   $  21,467     7.33%
  Investment securities              48,411           815      3.37           51,673       1,467     5.68
  Federal Home Loan Bank stock        6,374           168      5.27            5,992         180     6.01
  Cash and cash equivalents          44,296           223      1.01           15,407         129     1.67
                                  ---------     ---------     -----        ---------   ---------    -----
    Total interest-earning assets   693,037        21,768      6.28          658,530      23,243     7.06
                                                ---------     -----                    ---------    -----
Noninterest-earning assets           27,725                                   14,437
                                  ---------                                ---------
    Total average assets          $ 720,762                                $ 672,967
                                  =========                                =========

Interest-bearing liabilities:
  Savings accounts                $  12,674     $      50      0.79        $  11,323   $      78     1.38
  Checking accounts                  74,825           408      1.09           54,519         396     1.45
  Money market accounts             137,392           977      1.42          127,628       1,351     2.12
  Time deposits                     279,210         4,726      3.39          249,202       5,085     4.08
                                  ---------     ---------     -----        ---------   ---------    -----
      Total deposits                504,101         6,161      2.44          442,672       6,910     3.12
  Borrowings                         97,063         2,525      5.20          121,474       2,996     4.93
                                  ---------     ---------     -----        ---------   ---------    -----
    Total interest-bearing
      liabilities                   601,164         8,686      2.89          564,146       9,906     3.51
                                                ---------     -----                    ---------    -----

Noninterest-bearing liabilities      25,600                                   16,247
                                  ---------                                ---------

Total average liabilities           626,764                                  580,393
Average equity                       93,998                                   92,574
                                  ---------                                ---------

    Total liabilities and equity  $ 720,762                                $ 672,967
                                  =========                                =========
Net interest income                             $  13,082                              $  13,337
                                                =========                              =========
Interest rate spread                                           3.39%                                 3.55%
                                                              =====                                 =====
Net interest margin                                            3.78%                                 4.05%
                                                              =====                                 =====
Ratio of average interest-earning
  assets to average interest-
  bearing liabilities                              115.28%                                116.73%
                                                =========                              =========

-----------
(1)  Average net loans receivable includes non-performing loans.  Interest income does not include interest
     on non-accrual loans.

</TABLE>

                                                               22

<PAGE>



Liquidity and Capital Resources

Liquidity and Capital Resources  EverTrust's primary source of funds are
deposits and proceeds from principal and interest payments on loans and
securities, and Federal Home Loan Bank of Seattle advances and other
borrowings. While maturities and scheduled amortization of loan and securities
are a predictable source of funds, deposit flows and mortgage prepayments are
greatly influenced by general interest rates, economic conditions and
competition.

The primary investing activity of EverTrust is the origination of commercial
real estate, multifamily and, to a much lesser extent, one-to-four family
mortgage loans. A secondary, but increasing activity of the Company is the
origination of business and private banking loans. During the three months
ended September 30, 2003, the Company originated $139.7 million in new loans,
$117.1 million after participating out $22.6 million of loans to other banks.
In addition, during this three month period, funds were used to pay a cash
dividend to shareholders totaling $726,000. These activities were funded by
loan repayments and proceeds from the sales and maturities of investment
securities. EverTrust must maintain adequate levels of liquidity to ensure the
availability of sufficient funds to support loan growth and deposit
withdrawals, to satisfy financial commitments and to take advantage of
investment opportunities. The source of funds include deposits and principal
and interest payments from loans and investments and Federal Home Loan Bank of
Seattle advances.

The management of EverTrust believes it has adequate resources to fund all
loan commitments by deposits and, if necessary, Federal Home Loan Bank of
Seattle advances and other borrowings and the sale of mortgage loans. It can
also adjust the offering rates of deposit accounts to retain deposits in
changing interest rate environments.

Capital Requirements.  EverTrust, as a financial holding company, is regulated
by the Federal Reserve Board (FRB). The FRB's minimum risk-based capital ratio
guidelines for Tier 1 and total capital are 4% and 8%, respectively.

The actual regulatory capital ratios calculated for EverTrust along with the
minimum capital amounts and ratios for capital adequacy purposes were as
follows (dollars in thousands):

                                                       Minimum for Capital
                                       Actual           adequacy purposes
                                 ------------------     -----------------
                                   Amount    Ratio       Amount    Ratio
                                 ---------  -------     --------  -------
September 30, 2003:
 Total capital to risk-
   weighted assets               $101,292    16.5%      $49,111     8.0%
 Tier 1 capital to risk-
   weighted assets                 93,667    15.2        24,649     4.0
 Tier 1 leverage capital
   to average assets               93,667    12.8        29,271     4.0

Forward-looking Statements
--------------------------

Certain matters discussed in this Form 10-Q may constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward looking statements relate to, among other things,
expectations of the business environment in which the Company operates,
projections of future performance, perceived opportunities in the market, and
statements regarding the Company's mission and vision. These forward-looking
statements are based upon current management expectations, and may therefore
involve risks and uncertainties. The Company's actual results, performance, or
achievements may differ materially from this suggested, expressed, or implied
by forward looking statements due to a wide range of factors including, but
not limited to, non-bank financial services providers, regulatory changes,
interest rates, national and regional economic conditions and other risks
detailed in the Company's reports filed with the Securities and Exchange
Commission.

                                      23

<PAGE>



Item 3.  Quantitative and Qualitative Disclosures About Market Risk

Asset and Liability Management and Market Risk

EverTrust's profitability depends primarily on its net interest income, which
is the difference between the income it receives on its loan and investment
portfolio and its cost of funds, which consists of interest paid on deposits
and borrowings. Net income is further affected by gains and losses on loans
held for sale, which can be affected by changes in interest rates. Net
interest income is also affected by the relative amounts of interest-earning
assets and interest-bearing liabilities. When interest-earning assets equal or
exceed interest-bearing liabilities, any positive interest rate spread will
generate net interest income. EverTrust continues to actively manage the
impact of interest rate changes on net interest income and capital by
emphasizing the origination of adjustable rate and shorter-term fixed rate
loans, selling 30 year fixed rate mortgages, and purchasing investment
securities that better match the duration of its deposits. EverTrust's
profitability is also affected by the level of non-interest income and
expenses. Non-interest income includes items such as service charges and fees
on deposit accounts, loan service fees and gains on sale of investments and
loans.

Non-interest expenses primarily include compensation and benefits, occupancy
and equipment expenses, deposit insurance premiums and information processing
expenses. EverTrust's results of operations are also significantly affected by
general economic and competitive conditions, particularly changes in market
interest rates, government legislation and regulation and monetary and fiscal
policies.

EverTrust does not maintain a trading account for any class of financial
instrument nor does it purchase high-risk derivative instruments. EverTrust
Bank is authorized to engage in limited hedging activities for its saleable
loan pipeline, but had no forward sale contracts in place at September 30,
2003. EverTrust has no commodity price risk, and only a limited amount of
foreign currency exchange rate risk as a result of holding Canadian currency
in the normal course of business.

Item 4. Controls and Procedures.

     (a)   Evaluation of Disclosure Controls and Procedures: An evaluation of
the Company's disclosure controls and procedures (as defined in Section
13(a)-14(c) of the Securities Exchange Act of 1934 (the "Act")) was carried
out under the supervision and with the participation of the Company's Chief
Executive Officer, Chief Financial Officer and several other members of the
Company's senior management within the 90-day period preceding the filing date
of this quarterly report. The Company's Chief Executive Officer and Chief
Financial Officer concluded that the Company's disclosure controls and
procedures as currently in effect are effective in ensuring that the
information required to be disclosed by the Company in the reports it files or
submits under the Act is (i) accumulated and communicated to the Company's
management (including the Chief Executive Officer and Chief Financial Officer)
in a timely manner, and (ii) recorded, processed, summarized and reported
within the time periods specified in the SEC's rules and forms.

     (b)   Changes in Internal Controls: In the quarter ended September 30,
2003, the Company did not make any significant changes in, nor take any
corrective actions regarding, its internal controls or other factors that
could significantly affect these controls.

                                       24

<PAGE>



Part II - Other Information
---------------------------

Item 1.  Legal Proceedings

From time to time the Company or its subsidiaries are engaged in legal
proceedings in the ordinary course of business, none of which are considered
to have a material impact on the Company's financial position or results of
operations.

Item 2.  Changes in Securities

None

Item 3.  Defaults Upon Senior Securities

Not applicable.

Item 4.  Submission of Matters to a Vote of Shareholders

The Annual Meeting of Shareholders of the Company ("Meeting") was held on July
24, 2003.  At the Meeting there were a total number of 4,838,279 shares
eligible to vote of which 3,902,388 were received or cast at the Meeting.

   1.  The result of the vote on the election of directors was as follows:

   The following individuals were elected as directors:

                                    FOR                    WITHHELD
                           ------------------------   -----------------------
                            Number    Percentage of    Number   Percentage of
                           of Votes   Shares Voted    of Votes  Shares Voted
                           --------   -------------   --------  -------------
For a three year term:

Margaret B. Bavasi         3,870,455     99.18%        31,933       0.82%
R. Michael Kight           3,811,042     97.66         91,346       2.34
Thomas J. Gaffney          3,877,880     99.37         24,508       0.63

For a two year term:

Louis H. Mills             3,854,286     98.77         48,102       1.23

For a one year term:

Robert G. Wolfe            3,749,480     96.08        152,908       3.92

The terms of Directors Michael B. Hansen, George S. Newland, William J.
Rucker, Michael R. Deller, Robert A. Leach, Jr., and Thomas R. Collins
continued.

   1.  The result of the vote on the appointment of Deloitte and Touche LLP as
       the Company's independent auditors for the fiscal year ending March 31,
       2004 was as follows:

                                    Number     Percentage of
                                   of Votes    Shares Voted
                                   --------    ------------

                     FOR           3,858,223      98.87%
                     AGAINST          35,747       0.92
                     ABSTAIN           8,418       0.21

                                         25
<PAGE>



Item 5.  Other Information

None

Item 6.  Exhibits and Reports on Form 8-K

     (a) Exhibits
           3.1       Articles of Incorporation of the Registrant(1)
           3.2       Bylaws of the Registrant(1)
          10.1       401(k) Employee Savings and Profit Sharing Plan and
                     Trust(1)
          10.2       Employee Severance Compensation Plan(2)
          10.3       Employee Stock Ownership Plan(1)
          10.4       2000 Stock Option Plan (3)
          10.5       2000 Management Recognition Plan (3)
          10.6       Amended Employment Agreement with Michael B. Hansen (4)
          10.7       Amended Employment Agreement with Michael R. Deller (4)
          10.8       Amended Employment Agreement with Jeffrey R. Mitchell (4)
          10.9       Employment Agreement with Kirk A. Bottles (4)
          10.10      Amendment Employment Agreement with Robert L. Nall (4)
          31.1       Certification of Chief Executive Officer Pursuant to
                     Section 302 of the Sarbanes Oxley Act
          31.2       Certification of Chief Financial Officer Pursuant to
                     Section 302 of the Sarbanes Oxley Act
          32         Certification of Chief Executive Officer and Chief
                     Financial Officer Pursuant to Section 906 of the
                     Sarbanes-Oxley Act of 2002

------------
(1) Filed as an exhibit to the Registrant's Registration Statement on Form S-1
    (333-81125).
(2) Filed as an exhibit to the Registrant's Annual Report on Form 10-K for the
    year ended March 31, 2000.
(3) Filed as an exhibit to the Registrant's Annual Meeting Proxy Statement
    dated June 19, 2000.
(4) Filed as an exhibit to the Registrant's Annual Report on Form 10-K for the
    year ended March 31, 2003.

     (b) Reports on Form 8-K

         No reports on Form 8-K were filed during the quarter ended September
         30, 2003.

                                        26

<PAGE>



                                  Signatures

Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                      EverTrust Financial Group, Inc.


November 5, 2003                      /s/Michael B. Hansen
                                      -----------------------------------
                                      Michael B. Hansen
                                      President and Chief Executive Officer
                                      (Principal Executive Officer)


November 5, 2003                      /s/Jeffrey R. Mitchell
                                      -----------------------------------
                                      Jeffrey R. Mitchell
                                      Chief Financial Officer
                                      (Principal Financial and Accounting
                                      Officer)

                                       27

<PAGE>




                                  Exhibit 31.1

             Certification of Chief Executive Officer Pursuant to
                Section 302 of the Sarbanes-Oxley Act of 2002

I, Michael B. Hansen, certify that:

1.   I have reviewed this quarterly report on Form 10-Q of EverTrust Financial
     Group, Inc.;

2.   Based on my knowledge, this report does not contain any untrue statement
     of a material fact or omit to state a material fact necessary to make the
     statements made, in light of the circumstances under which such state-
     ments were made, not misleading with respect to the period covered by
     this report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this report, fairly present in all material
     respects the financial condition, results of operations and cash flows of
     the registrant as of, and for, the periods presented in this report;

4.   The registrant's other certifying officer(s) and I are responsible for
     establishing and maintaining disclosure controls and procedures (as
     defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant
     and have:

     a)   Designed such disclosure controls and procedures, or caused such
          disclosure controls and procedures to be designed under our
          supervision, to ensure that material information relating to the
          registrant, including its consolidated subsidiaries, is made known
          to us by others within those entities, particularly during the
          period in which this report is being prepared;

     b)   Evaluated the effectiveness of the registrant's disclosure controls
          and procedures and presented in this report our conclusions about
          the effectiveness of the disclosure controls and procedures, as of
          the end of the period covered by this report based on such
          evaluation; and

     c)   Disclosed in this report any change in the registrant's internal
          control over financial reporting that occurred during the
          registrant's most recent fiscal quarter (the registrant's fourth
          fiscal quarter in the case of an annual report) that has materially
          affected, or is reasonably likely to materially affect, the
          registrant's internal control over financial reporting; and

5.   The registrant's other certifying officer(s) and I have disclosed, based
     on our most recent evaluation of internal control over financial
     reporting, to the registrant's auditors and the audit committee of the
     registrant's board of directors (or persons performing the equivalent
     functions):

     a)   All significant deficiencies and material weaknesses in the design
          or operation of internal control over financial reporting which are
          reasonably likely to adversely affect the registrant's ability to
          record, process, summarize and report financial information; and

     b)   Any fraud, whether or not material, that involves management or
          other employees who have a  significant role in the registrant's
          internal control over financial reporting.

Date: November 5, 2003
                                      /s/Michael B. Hansen
                                      --------------------------------------
                                      Michael B. Hansen
                                      President and Chief Executive Officer
<PAGE>


                                Exhibit 31.2

            Certification of Chief Financial Officer Pursuant to
               Section 302 of the Sarbanes-Oxley Act of 2002

I, Jeffrey R. Mitchell, certify that:

1.   I have reviewed this quarterly report on Form 10-Q of EverTrust Financial
     Group, Inc.;

2.   Based on my knowledge, this report does not contain any untrue statement
     of a material fact or omit to state a material fact necessary to make the
     statements made, in light of the circumstances under which such state-
     ments were made, not misleading with respect to the period covered by
     this report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this report, fairly present in all material
     respects the financial condition, results of operations and cash flows of
     the registrant as of, and for, the periods presented in this report;

4.   The registrant's other certifying officer(s) and I are responsible for
     establishing and maintaining disclosure controls and procedures (as
     defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant
     and have:

     a)   Designed such disclosure controls and procedures, or caused such
          disclosure controls and procedures to be designed under our
          supervision, to ensure that material information relating to the
          registrant, including its consolidated subsidiaries, is made known
          to us by others within those entities, particularly during the
          period in which this report is being prepared;

     b)   Evaluated the effectiveness of the registrant's disclosure controls
          and procedures and presented in this report our conclusions about
          the effectiveness of the disclosure controls and procedures, as of
          the end of the period covered by this report based on such
          evaluation; and

     c)   Disclosed in this report any change in the registrant's internal
          control over financial reporting that occurred during the
          registrant's most recent fiscal quarter (the registrant's fourth
          fiscal quarter in the case of an annual report) that has materially
          affected, or is reasonably likely to materially affect, the
          registrant's internal control over financial reporting; and

5.   The registrant's other certifying officer(s) and I have disclosed, based
     on our most recent evaluation of internal control over financial
     reporting, to the registrant's auditors and the audit committee of the
     registrant's board of directors (or persons performing the equivalent
     functions):

     a)   All significant deficiencies and material weaknesses in the design
          or operation of internal control over financial reporting which are
          reasonably likely to adversely affect the registrant's ability to
          record, process, summarize and report financial information; and

     b)   Any fraud, whether or not material, that involves management or
          other employees who have a  significant role in the registrant's
          internal control over financial reporting.

Date: November 5, 2003
                                      /s/Jeffrey R. Mitchell
                                      --------------------------------------
                                      Jeffrey R. Mitchell
                                      Chief Financial Officer

                                EXHIBIT 32

     Certification of Chief Executive Officer and Chief Financial Officer
                    of EverTrust Financial Group, Inc.
         Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002


     The undersigned hereby certify, pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002 and in connection with this Quarterly Report on
Form 10-Q, that:

     1.   the report fully complies with the requirements of Sections 13(a)
          and 15(d) of the Securities Exchange Act of 1934, as amended, and

     2.   the information contained in the report fairly presents, in all
          material respects, the company's financial condition and results of
          operations.

/s/Michael B. Hansen                        /s/Jeffrey R. Mitchell
-----------------------                     ------------------------
Michael B. Hansen                           Jeffrey R. Mitchell
Chief Executive Officer                     Chief Financial Officer

Dated: November 5, 2003

<PAGE>