Decisions on Bank Applications

Real Estate - Development (over 2% of Tier 1 capital)

Bank may indirectly through a wholly-owned subsidiary develop residential-commercial real estate from the initial stage involving over 2% of Tier 1 Capital

Disclaimer

The following list shows those activities and investments approved by the FDIC under Section 24 of the Federal Deposit Insurance Act and Part 362 of the FDIC’s Rules and Regulations, 12 C.F.R. Part 362. The list provides insured state banks and their counsel some initial guidance regarding activities and investments that the FDIC may approve under Section 24. However, the fact that a particular activity or investment has received FDIC approval in the past does not affect the obligation of another institution to seek permission from the FDIC to engage in the same or similar activity. Additionally, the fact that a particular investment or activity has been approved in the past does not restrict the FDIC's review of future requests to engage in similar activities nor our ability to impose prudential standards on the conduct of that activity. Finally, it should be borne in mind that since the time any particular application was approved, key statutory or regulatory changes may have taken place, which might impact how the issues would be treated today.

ROYAL AMERICA - NARBETH, PA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	7/28/2005	$1.5M	9.34%
Wholly-Owned subsidiary acquires 50% interest in Joint Venture organized as limited liability company to purchase apartments for conversion to condominiums

LINCOLN PARK SAVINGS BANK - CHICAGO, IL

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	9/30/1999	$ 985,000	7%
Application to engage in the development of residential real estate through a wholly-owned subsidiary.

RIDGEFIELD BANK - RIDGEFIELD, CT

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	9/30/1998		8.46%
Application to establish a wholly owned subsidiary to engage in de novo in real estate acquisition and development activities. The project involves residential real estate all of which will be single-family house lots and single family homes.

OSWEGO CITY SAVINGS BANK - OSWEGO, NY

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	9/23/1998		8.5%
Application to invest, through a majority-owned subsidiary, in a residential single-family real estate development project which the bank currently holds directly.

SAVINGS BANK OF MANCHESTER - MANCHESTER, CT

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	9/19/1997	3.5M	4%
Application to continue to develop real estate holdings, through a wholly-owned subsidiary until complete divestiture. Savings Bank of Manchester

CUMBERLAND BANK - CARTHAGE, TN

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	9/15/1999	$ 450,000	5%
Application to continue to hold, through a wholly-owned subsidiary, real estate investment involving the completion of the development of a residential subdivision. The real estate was to be developed in three phases as low to moderate income residential housing. The original 11/2/95 approval under Part 362 was conditioned on the real estate being divested by September 1, 1999, but the project remains incomplete due to prohibitive cost.

INTERWEST BANK - OAK HARBOR, WA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	7/9/1998		5%
Application to amend a previously approved application, increasing the amount allowed to be invested to a maximum of five percent (5%) of Tier 1 capital.

BEAL SAVINGS BANK - LAS VEGAS, NV

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	7/28/2004	$500,000	10%
De novo State bank with a Nevada Thrift Company charter seeks consent to engage in real estate investment activities permitted for thrift companies and banks under Nevada law. The activities include the acquisition, development, sale, rental, lease, and management of real estate;

MACHIAS - MACHIAS, ME

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	7/28/1998	$ 375,000	14.5%
Application to continue to indirectly engage in real estate investment activity through a wholly-owned subsidiary, that owns a 50% interest in a real estate joint venture. The joint venture constructs multi- family residential and commercial real estate.

TRI-COUNTIES BANK - CHICO, CA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	7/26/1996	14.6M	26.7%
Application to indirectly continue commercial real estate investment activities through a wholly-owned subsidiary. Tri Counties Bank

SAWYER SAVINGS BANK - SAUGERTIES, NY

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	7/12/1998		12.05%
Applicant seeks approval to continue activities through its wholly-owned subsidiary, which has ownership interests in limited partnerships engaged in real estate development.

BRENTWOOD BANK - BETHEL PARK, PA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	6/30/2004	$400,000	10%
Application to engage residential real estate development through subsidiary organized as limited liability company (LLC) which in turn would invest in another limited liability company

MERCHANTS & PLANTERS BANK - NEW PORT, AR

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	6/11/1996	$200,000	2.62%
Application to initiate real estate acquisition and development activities through its wholly owned subsidiary. While the specifics of the type of real estate investment have not been formalized, the Board of Directors of the bank have set a maximum limit for this type of investment at 2.62% of the banks Tier 1 Capital. Merchants & Planters' Bank

VISALIA COMMUNITY BANK - VISALIA, CA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	5/29/1997	2.8M	27.69%
Application by bank to retain investments, including three real estate properties, through its wholly-owned subsidiary. Visalia Community Bank

HORIZON BANK - BELLINGHAM, WA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	5/24/1994	1M	< 25%
Application to continue real estate acquisition and development activities through a wholly-owned subsidiary. Horizon Bank

HOMETOWN BANK, A COOPERATIVE - OXFORD, MA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	5/23/2003	$ 350,000	4.5%
Applicant plans to engage in real estate investment and development activities through a wholly-owned subsidiary. The new subsidiary will be in the corporate form under Massachusetts law.

ESB BANK - ELLWOOD CITY, PA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	5/20/2004	4.8M	4.55
Application to indirectly engage in real estate activities through a wholly-owned subsidiary.

THE BOSTON BANK OF COMMERCE - BOSTON, MA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	4/9/1996	$ 100,000	2.1%
Application to continue the purchase outstanding shares of thrift holding company that owns Federal Savings Bank. The Boston Bank of Commerce

HOME SAVINGS BANK - ALBERMARLE, NC

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	4/8/1998	4M	10%
Application by bank to invest in a subsidiary engaged in de novo real estate acquisition and development activities which will enter into a joint venture to develop residential lots.

EAGLE BANK/OLD NAME-EVERETT BANK - EVERETT, MA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	4/5/2000	1.1M	3.39%
Application by Eagle Bank, formerly Everett Bank, to make an additional investment in a wholly-owned subsidiary for the purpose of conducting real estate investment activities. Total investment in the subsidiary would be 3.39% of Tier 1 Leverage Capital. Eagle Bank

UNITED SAVINGS BANK - PHILADELPHIA, PA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	4/29/1997	3.3M	17.8%
Application to indirectly continue real estate activities through a wholly-owned subsidiary. Real estate activities conducted by the bank include ownership of a subdivision, construction of duplex townhouse units, and sale of townhouses to individual buyers. United Savings Bank

METROWEST BANK - FRAMINGHAM, MA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Notice	Delegated Authority	4/26/1999	3M	5.4 %
Application to invest in common stock of subsidiary engaged in real estate investment activities. The bank has not identified a particular parcel(s) of real estate to be purchased, but will search for opportunities to profitably invest.

AMERICAN COMMERCIAL BANK - VENTURA, CA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	3/25/1997	2.8M	8.7%
Application to continue real estate investment activities through the formation of a wholly owned subsidiary and the transfer of two real estate investment activities to that subsidiary. American Commercial Bank

PEOPLE'S BANK - BRIDGEPORT, CT

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	3/22/1995	25M	5.39%
Application to retain substantial real estate investments through several wholly-owned subsidiaries.

FREMONT BANK - FREMONT, CA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	3/21/2000	1.5M	10%
Application for extension of previous approval to engage in real estate development, primarily, single family residences.

HOWARD SAVINGS BANK - GLENVIEW, IL

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	3/16/1995	$ 375,000	4.3%
Application to extend the date of previously approved divestiture plan for parcels of land. Howard Savings Bank

JACKSONVILLE SAVINGS BANK - JACKSONVILLE, TX

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	2/17/1999		7.1%
Application to acquire and retain indirectly through a wholly- owned subsidiary land and develop that property into residential lots to be sold to builders and individuals for the construction of single-family residences.

TROY SAVINGS BANK - TROY, NY

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	2/11/1997	3.2M	2.67%
Application to retain investments, through wholly-owned subsidiaries. The investments include a limited partnership interest in realty property and direct ownership of one condominium unit. Real estate activities conducted by the bank through the subsidiary are limited to disposing of the assets and no capital infusions into the subsidiary are contemplated. The Bank must dispose of the properties by 12/31/99. The Troy Savings Bank

GREATER NEW YORK SAVINGS BANK/NEW NAME-ASTORIA - NEW YORK, NY

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	12/7/1995	1M	13.9%
Application to engage in real estate investment activities through five wholly-owned subsidiaries. The subsidiaries are involved in residential single family housing developments, condominiums, planned retirement communities, and associated retail space. The Greater New York Savings Bank

HARRIS SAVINGS BANK - HARRISBURG, PA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	12/3/1996	1M	6.5%
Application to continue real estate acquisition and development activities through a wholly-owned subsidiary, despite previously submitted and approved divestiture plan. Harris Savings Bank

FIRST COUNTY BANK - STAMFORD, CT

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	12/22/1995	3.4M	14.4%
Application to continue to real estate investment activities through a wholly-owned subsidiary. First County Bank

TRANSFLORIDA BANK - BOCA RATON, FL

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	12/21/1995	9.9M	127%
Application denied and divestiture ordered with conditions imposed during the divestiture period.

MCGEHEE BANK - MCGEHEE, AR

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	12/21/1995	$ 750,000	5.5%
Application to continue real estate acquisition, development and leasing activities through a wholly owned subsidiary. McGehee Bank

FARMERS BANK & TRUST - MAGNOLIA, AR

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	12/21/1995	$ 644,247	3.32%
Application to continue to hold, develop and lease two properties through a wholly-owned subsidiary. Farmers Bank & Trust

BEAL BANK, S.S.B. - DALLAS, TX

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	12/19/1995	3M	7.6%
Application to continue to engage in real estate investment, development and leasing activities through a wholly-owned subsidiary, following a 1994 conversion from a state savings association to a SAIF insured state chartered savings bank. Beal Bank

MERCANTILE BANK/MARK TWAIN KANSAS CITY SAVINGS - KANSAS CITY, MO

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	12/15/1995	1M	5.89%
Application to continue real estate investment activities through a subsidiary that, develops and sells homes in a residential subdivision acquired for debts previously contracted ("DPC"). Mark Twain Kansas City Bank

CENTRAL BANK OF THE LAKE OF THE OZARKS - OSAGE BEACH, MO

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	12/15/1995	1.9M	6.81%
Application to continue to hold, develop and sell through a wholly-owned subsidiary, a condominium development acquired for debts previously contracted. Central Bank of the Ozarks

MID-AMERICA FSB/NORTHWESTERN SAVINGS & LOAN - CHICAGO, IL

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	12/12/1995	25M	2.05%
Application by bank to engage in real estate investment, development and sales activities through bonafide first and second tier subsidiairies.

INSTITUTION FOR SAVINGS IN NEWBURYPORT & VICINITY - NEWBURYPORT, MA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	11/7/1995	$ 625,000	2.71%
Application to engage in real estate investment activities through a wholly owned subsidiary.

CALIFORNIA BANK AND TRUST/ REGENCY BANK - FRESNO, CA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	11/29/1996	14.8M	121%
Application by bank to indirectly continue real estate investment and development activities through a wholly-owned subsidiary solely for the purpose of facilitating divestiture. Regency Bank

OWEN COMMUNITY BANK - SPENCER, IN

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	11/16/1995	701M	22.3%
Application to continue to engage in real estate investment and development activities, through a wholly- owned subsidiary. Real estate activities involve the purchase of raw land in large blocks, making minimal improvements and selling the land in smaller tracts. Owen Community Bank, s.b.

MITCHELL SAVINGS BANK - GREENFIELD, WI

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	11/16/1995	1.2M	15.5
Application to engage in real estate investment and development activities through a wholly-owned subsidiary. Mitchell Savings Bank

HERITAGE BANK, S.S.B. - TERRELL, TX

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	11/15/2002		20%
Application to reactivate wholly-owned real estate subsidiary to purchase and sell developed real estate lots to local builders as part of a program to provide housing for low-and-moderate-income individuals.

FIRST AMERICAN BANK - BRYAN, TX

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Notice	Delegated Authority	10/6/1999	$20M	10.38%
Notice of intent to conduct real estate investment activity through a de novo wholly-owned subsidiary, incorporated under the laws of the State of Texas. The subsidiary will be a single purpose entity formed to acquire, develop and manage a real estate investment project.

NEW YORK COMMUNITY BANK / ROSLYN SAVINGS BANK - WESTBURY, NY

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	10/3/2003	50M	10%
Application to indirectly engage in real estate activities through two wholly-owned subsidiaries. The real estate activities are currently being conducted by subsidiaries of Roslyn Bancorp, Inc., which entered into a merger agreement in June 2003 with New York Community Bancorp, Inc. Following the merger, New York Community Bank will be the surviving institution and will be the parent company to the

BOILING SPRINGS SAVINGS BANK - RUTHERFORD, NJ

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	10/24/2002	9.4M	9%
Application to engage indirectly in real estate development activity for construction of residential and commercial condominium building, and that portion of a larger parking facility attributable to the building.

SAVINGS BANK OF WALPOLE - WALPOLE, NH

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	10/21/1997	$253,000	2.39%
Application to indirectly continue real estate development activity through a wholly owned subsidiary until full divestiture by September 30, 1998. Savings Bank of Walpole

BERKSHIRE COUNTY SAVINGS BANK - PITTSFIELD, MA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	10/20/1995		2.17%
Application to continue real estate investment, development and leasing activities through two wholly- owned subsidiaries. Berkshire County Savings Bank

CITIZENS FIRST SAVINGS BANK - PORT HURON, MI

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	10/10/1998	$50,859	3.91%
Application to continue to engage in real estate investment activities through a wholly-owned subsidiary, which through its predecessor, became involved in real estate investments as a general partner in the development of a mobile home park. The Bank is applying to retain its 50% partnership interest in the mobile home park as well as increase its investment through a loan between the bank and the subsidiary.

CITIZENS SAVINGS BANK - BLOOMINGTON, IL

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Notice	Delegated Authority	1/7/2000	$4,462,708	15.08%
Application to continue to participate through a wholly owned subsidiary in a joint venture to complete the development of vacant land into commercial real estate lots for resale. The investment represents 15.8% of Tier I leverage capital.

YOSEMITE BANK - MARIPOSA, CA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	1/31/1996	2.2M	32.60%
Application to indirectly continue residential real estate investment and development activities through a wholly-owned subsidiary. Yosemite Bank

ELGIN FINANCIAL SAVINGS BANK - ELGIN, IL

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	1/29/2003	2.9M	20%
Application by former thrift converted to commercial bank to continue real estate investment activities

FIRST SECURITY BANK OF CA, NA/CALIF. STATE BANK - WEST COVINA, CA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	1/23/1996	5.9M	12.7%
Application to continue, real estate investment, acquisition and development activities through two wholly- owned subsidiaries. California State Bank

FREMONT BANK - FREMONT, CA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Board Action	1/23/1996	7.3M	20%
Denial of application to engage in direct real estate investment activities as principle with order to divest the properties immediately. Approval to conduct real estate activities through a subsidiary with standard Part 362 separateness and capital conditions. Fremont Bank

ABINGTON SAVINGS BANK - JENKINTOWN, PA

Application or Notice	Board or Delegated Authority	Date of Approval	Amount of Investment	Percent of Tier I Capital
Application	Delegated Authority	1/16/2001	3M	8%
Application to engage in real estate investment and development activity through second-tier subsidiary (wholly owned at each tier). The second-tier subsidiary contributes raw land and enters into a joint venture agreement with an experienced builder. The proposal contemplates the development of a subdivision with the profits split between the two joint venture partners.