Effect of Conversion of TARP Preferred into Mandatory Convertible

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					Effect of Conversion of TARP Preferred into Mandatory Convertible Shares on 102 Large TARP Recipients
                                  (assumes stock prices as of 2/24/09)


                                                                                        Tangible Common
                                                   Tangible Book Value                        Equity/
                                                         Per Share           Price/   Risk-Weighted Assets
Name                                      Ticker     4Q08     Pro Forma Pro Forma TBV   4Q08     Pro Forma
Bank of New York Mellon Corporation       BK        $3.06       $5.07         4.3       3.0%        5.6%
Westamerica Bancorporation                WABC      $9.45       $11.49        3.4       9.9%       12.9%
Northern Trust Corporation                NTRS      $19.82      $23.87        2.3       8.6%       11.7%
S&T Bancorp, Inc.                         STBA       $9.90      $11.73        1.9        7.6%      10.6%
State Street Corporation                  STT       $10.46      $12.49        1.8       6.5%        9.4%
U.S. Bancorp                              USB       $4.65        $6.27        1.8       3.5%        6.4%
Valley National Bancorp                   VLY       $5.63       $6.47         1.6       6.8%        9.5%
Old National Bancorp                      ONB       $6.70       $7.26         1.6       8.0%        9.8%
TowneBank                                 TOWN      $8.64        $9.68        1.5       7.9%       10.8%
Pinnacle Financial Partners, Inc.         PNFP      $11.63      $12.89        1.5       7.5%       10.1%
First Bancorp, Inc.                       FNLC       $9.05       $9.86        1.5       10.0%      12.8%
Home BancShares, Inc.                     HOMB      $11.40      $12.19        1.5       10.3%      12.6%
IBERIABANK Corporation                    IBKC      $24.18      $25.94        1.4       9.5%       11.7%
Simmons First National Corporation        SFNC      $16.15      $17.44        1.4       11.4%      14.4%
Park National Corporation                 PRK       $33.02      $35.04        1.4       9.6%       11.7%
Sterling Bancorp                          STL       $5.46       $6.11         1.4       6.9%        9.8%
Lakeland Financial Corporation            LKFN      $11.84      $13.08        1.4       7.2%       10.0%
FirstMerit Corporation                    FMER      $9.85       $10.26        1.4       9.3%       10.8%
Signature Bank                            SBNY      $16.71      $17.61        1.4       13.2%      15.9%
CVB Financial Corp.                       CVBF      $5.13       $5.54         1.4       9.6%       12.5%
Peapack-Gladstone Financial Corporation   PGC       $10.05      $10.95        1.3       8.8%       11.8%
First Community Bancshares, Inc.          FCBC      $7.73        $8.65        1.3       5.4%        7.9%
F.N.B. Corporation                        FNB       $3.92        $4.20        1.3       5.9%        7.6%
Wells Fargo & Company                     WFC       $6.99       $8.50         1.3       2.7%        5.0%
Trustmark Corporation                     TRMK      $11.49      $12.42        1.3       9.0%       12.0%
WesBanco, Inc.                            WSBC      $12.02      $12.72        1.3       8.3%       10.3%
TCF Financial Corporation                 TCB       $7.79       $8.48         1.3       8.0%       10.9%
Citizens & Northern Corporation           CZNC      $12.22      $12.87        1.3       11.7%      14.5%
M&T Bank Corporation                      MTB       $25.73      $26.87        1.3       4.8%        5.9%
PNC Financial Services Group, Inc.        PNC       $16.52      $19.74        1.2       2.9%        5.9%
West Bancorporation, Inc.                 WTBA       $5.18       $5.56        1.2       7.3%       10.2%
Bank of the Ozarks, Inc.                  OZRK      $14.63      $15.43        1.2        9.6%      12.5%
CenterState Banks of Florida, Inc.        CSFL      $9.64       $10.04        1.2       12.3%      15.2%
City National Corporation                 CYN       $23.95      $25.23        1.2       8.3%       11.1%
Berkshire Hills Bancorp, Inc.             BHLB      $17.41      $17.90        1.2       10.5%      12.4%
National Penn Bancshares, Inc.            NPBC      $5.44       $5.71         1.2       6.3%        8.5%
Lakeland Bancorp, Inc.                    LBAI      $5.54       $5.88         1.2       6.5%        9.4%
Independent Bank Corp.                    INDB      $11.03      $11.68        1.2       6.6%        9.4%
First Financial Bancorp.                  FFBC      $6.39       $6.67         1.2       8.3%       11.1%
BB&T Corporation                          BBT       $12.39      $13.09        1.1       6.3%        9.2%
SCBT Financial Corporation                SCBT      $15.88      $16.58        1.1       8.1%       11.0%
Associated Banc-Corp                      ASBC      $10.99      $11.47        1.1       7.9%       10.9%
First Bancorp                             FBNC      $9.18        $9.61        1.1       7.0%        9.9%
Susquehanna Bancshares, Inc.              SUSQ      $6.78       $7.15         1.1       5.2%        7.9%
1st Source Corporation                    SRCE      $14.86      $15.34        1.1       9.8%       12.8%
First Busey Corporation                   BUSE      $5.51       $5.80         1.1       5.9%        8.9%
Hampton Roads Bankshares, Inc.            HMPR      $5.60       $5.93         1.1       4.5%        7.5%
Union Bankshares Corporation              UBSH      $11.17      $11.51        1.1       7.5%       10.5%
Sterling Bancshares, Inc.                 SBIB      $4.61        $4.72        1.1       8.0%       10.9%
Fulton Financial Corporation              FULT      $5.33       $5.37         1.0       7.2%       10.1%
Heartland Financial USA, Inc.             HTLF      $11.45      $11.53        1.0       6.7%        9.7%
StellarOne Corporation                    STEL      $12.63      $12.62        1.0       11.7%      12.9%
Farmers Capital Bank Corporation          FFKT      $14.81      $14.78        1.0       7.9%       10.1%
Enterprise Financial Services Corp        EFSC      $10.22      $10.20        1.0       6.1%        7.7%
Shore Bancshares, Inc.                    SHBI      $12.55      $12.50        1.0       11.8%      14.6%
First Merchants Corporation               FRME      $10.89      $10.72        1.0       5.9%        8.8%
Wilmington Trust Corporation              WL        $8.85       $8.64         1.0       5.3%        8.2%
MB Financial, Inc.                        MBFI      $13.28      $12.95        0.9       7.0%        9.9%
Effect of Conversion of TARP Preferred into Mandatory Convertible Shares on 102 Large TARP Recipients
                                  (assumes stock prices as of 2/24/09)


                                                                                        Tangible Common
                                                   Tangible Book Value                        Equity/
                                                         Per Share           Price/   Risk-Weighted Assets
Name                                      Ticker     4Q08     Pro Forma Pro Forma TBV   4Q08     Pro Forma
Whitney Holding Corporation               WTNY      $11.48      $11.12        0.9       7.4%       10.3%
JPMorgan Chase & Co.                      JPM       $21.79      $21.16        0.9       6.1%        8.0%
OceanFirst Financial Corp.                OCFC      $11.22      $10.89        0.9       10.8%      13.7%
PrivateBancorp, Inc.                      PVTB      $13.29      $12.51        0.9       4.8%        7.5%
Provident Bankshares Corporation          PBKS      $6.65       $6.11         0.9       3.5%        5.9%
Sandy Spring Bancorp, Inc.                SASR      $13.66      $12.99        0.9       8.1%       11.1%
Great Southern Bancorp, Inc.              GSBC      $13.03      $12.31        0.9       9.2%       12.2%
First Midwest Bancorp, Inc.               FMBI       $8.93       $8.17        0.8        6.6%       9.5%
CoBiz Financial Inc.                      COBZ      $5.94       $5.40         0.8       6.3%        9.2%
First Horizon National Corporation        FHN       $11.01      $10.16        0.8       9.0%       12.4%
Western Alliance Bancorporation           WAL       $6.64       $5.86         0.8       5.4%        8.4%
MainSource Financial Group, Inc.          MSFG      $7.42       $6.78         0.8       7.6%       10.5%
BancTrust Financial Group, Inc.           BTFG       $7.76      $7.10         0.8       8.0%       11.0%
Citigroup Inc.                            C         $5.27       $2.85         0.8       2.9%        7.8%
Texas Capital Bancshares, Inc.            TCBI      $12.28      $11.62        0.8       7.8%        9.3%
SVB Financial Group                       SIVB      $22.72      $20.23        0.7       9.1%       12.0%
East West Bancorp, Inc.                   EWBC      $10.91       $9.17        0.7        6.7%       9.7%
Washington Federal, Inc.                  WFSL      $15.61      $14.77        0.7       19.4%      22.3%
Pacific Capital Bancorp                   PCBC      $10.22      $8.76         0.7       7.9%       10.9%
Southwest Bancorp, Inc.                   OKSB      $15.51      $13.64        0.7       8.0%       10.4%
Columbia Banking System, Inc.             COLB      $13.23      $11.54        0.7       9.4%       12.4%
Cathay General Bancorp                    CATY      $13.86      $11.75        0.7       7.9%       10.8%
Virginia Commerce Bancorp, Inc.           VCBI      $6.86       $5.71         0.7       7.6%       10.5%
Bank of America Corporation               BAC       $9.74       $5.88         0.7       3.7%        7.1%
Wintrust Financial Corporation            WTFC      $20.78      $15.82        0.7       5.6%        8.4%
Boston Private Financial Holdings, Inc.   BPFH      $4.77       $3.55         0.7       5.9%        8.9%
Popular, Inc.                             BPOP       $3.98      $2.20         0.7       3.7%        6.8%
KeyCorp                                   KEY       $12.36      $9.44         0.6       5.7%        8.1%
WSFS Financial Corporation                WSFS      $42.48      $37.20        0.6       9.4%       11.3%
Comerica Incorporated                     CMA       $32.30      $21.90        0.6       6.6%        9.7%
Flushing Financial Corporation            FFIC      $13.48      $10.83        0.6       11.7%      14.5%
First BanCorp.                            FBP       $10.22      $6.69         0.6       6.9%        9.8%
Huntington Bancshares Incorporated        HBAN      $5.29       $2.09         0.5       4.1%        7.1%
UCBH Holdings, Inc.                       UCBH      $5.18       $2.88         0.5       6.1%        9.1%
Zions Bancorporation                      ZION      $27.24      $16.05        0.5       6.1%        8.8%
SunTrust Banks, Inc.                      STI       $27.92      $15.22        0.5        6.1%       9.1%
United Community Banks, Inc.              UCBI      $10.29      $6.70         0.5       8.2%       11.3%
Webster Financial Corporation             WBS       $13.12      $5.86         0.5       5.3%        8.3%
Capital One Financial Corporation         COF       $27.46      $18.53        0.5       8.8%       11.7%
Central Pacific Financial Corp.           CPF       $12.04      $7.37         0.5       7.7%       10.8%
Regions Financial Corporation             RF        $10.59      $5.30         0.5       6.3%        9.3%
Synovus Financial Corp.                   SNV       $8.53       $5.44         0.5       8.8%       11.8%
Marshall & Ilsley Corporation             MI        $14.38      $7.56         0.5       6.8%        9.8%
Fifth Third Bancorp                       FITB       $8.74      $2.46         0.5        4.5%       7.5%
Citizens Republic Bancorp, Inc.           CRBC      $5.69       $2.03         0.4       7.3%       10.3%

Source: SNL