+++

($ in millions) part 1 of 5

Mkt. Cap.

5/28/99

New England Banks

1 Washington Trust Bancorp, Westerly, R.I. $176.00

2 Camden National Corp., Camden, Me. 143.1

3 New England Community Bancorp, Windsor, Co 138.9

4 Merchants Bancshares Inc., Burlington, Vt. 98

5 Bar Harbor Bankshares, Bar Harbor, Me. 68.9

6 First International Bancorp, Hartford, Con 66.6

7 Century Bancorp Inc., Medford, Ma. 64.3

New England Community Bank averages

Mid-Atlantic Banks

1 United National Bancorp, Bridgewater, N.J.$339.90

2 JeffBanks Inc., Philadelphia, Pa. 268.7

3 FCNB Corp., Frederick, Md. 196.3

4 Community Bank System, DeWitt, N.Y. 171.5

5 Arrow Financial Corp., Glens Falls, N.Y. 168.1

6 Sun Bancorp Inc., Selinsgrove, Pa. 166.5

7 Suffolk Bancorp, Riverhead, N.Y. 163.4

8 Community Banks Inc., Millersburg, Pa. 145.6

9 Royal Bancshares of Pa. Inc., Narbeth, Pa. 141.6

10 First of Long Island, Glen Head, N.Y. 116

Mid-Atlantic Community Bank averages

Midwestern Banks

1 Brenton Banks Inc., Des Moines, Iowa $354.00

2 Mid-America Bancorp, Louisville, Ky. 249

3 Shoreline Financial Corp., Benton Harbor, 245

4 Second Bancorp Inc., Warren, Ohio 240.5

5 First Merchants Corp., Munice, Ind. 239.2

6 Gold Banc Corp. Inc., Leawood, Kan. 233

7 Midwest Banc Holdings Inc., Melrose Park, 201.6

8 BancFirst Ohio Corp., Zanesville, Ohio 196.4

9 National City Bancorp, Minneapolis 175.2

10 Republic Bancorp Inc., Louisville, Ky. 167.7

11 Old Second Bancorp Inc., Aurora, Ill. 159.4

12 Peoples Bancorp Inc., Marietta, Ohio 145.6

13 Merchants Bancorp Inc., Aurora, Ill. 141.8

14 Independent Bank Corp., Ionia, Mich. 125.4

15 Southwest Bancorp Inc., Stillwater, Okla. 94.9

Midwestern Community Bank averages

Southern Banks

1 Premier Bancshares, Atlanta, Ga. $543.20

2 Bank of Granite Corp., Granite Falls, N.C. 275.7

3 Anchor Financial Corp., Myrtle Beach, S.C. 220.4

4 Simmons First National Corp., Pine Bluff, 216.8

5 Peoples Holding Co., Tupelo, Miss. 189.9

6 LSB Bancshares Inc., Lextington, N.C. 173.3

7 Seacoast Banking Corp, Stuart, Fla. 158.6

8 Union Bankshares Corp., Bowling Green, Va. 124.9

9 PAB Bankshares Inc., Valdosta, Ga. 123.8

10 First M & F Corp., Kosciusko, Miss. 103.1

11 ABC Bancorp, Moultrie, Ga. 102.4

12 Bank of the Ozarks Inc., Little Rock, Ark. 71.8

Southern Community Bank averages

Western Banks

1 Greater Bay Bancorp, Palo Alto, Calif. $312.60

2 Prime Bancshares Inc., Houston 205.7

3 Centennial Bancorp, Eugene, Ore. 199

4 Columbia Banking System, Inc., Tacoma, Wa. 173.8

5 Glacier Bancorp, Kalispell, Mont. 166.9

6 El Dorado Bancshares Inc., Laguna Hills, C 160.1

7 TriCo Bancshares, Chico, Calif. 126.9

8 Summit Bancshares Inc., Fort Worth, Tex. 116.5

9 Pacific Bank N.A., San Francisco 114

10 Cascade Bancorp, Bend, Ore. 96.7

Western Community Bank averages

All Community Bank averages

part 2 of 5

Weighted

P/E P/BV Deposit Avg. Cos Target

5/28/99 5/28/99 Premium of Capit Price

New England Banks

1 Washing 17.7 2.4 17.83% 10.25% $15.18

2 Camden 15.2 2.2 15.54 12.13 18.79

3 New Eng 18.1 1.9 10.05 11.51 17.78

4 Merchan 10.4 1.6 6.75 12.57 26.23

5 Bar Har 11 1.5 8.71 12.65 23.72

6 First I 8.7 1.4 7.98 13.54 10.59

7 Century 12.2 1 0.42 10.13 19.38

New Eng 13.3 1.7 9.61% 11.83%

Mid-Atlantic Banks

1 United 25.4 2.2 12.93% 10.67% $21.75

2 JeffBan 23.1 2 10.74 11.37 21.5

3 FCNB Co 23.8 2.2 12.4 10.73 15.28

4 Communi 11.4 1.4 3.72 10.85 26.21

5 Arrow F 14.2 2.2 11.73 10.37 29.29

6 Sun Ban 18.5 2.3 26.4 12.44 21.98

7 Suffolk 13.7 2.3 11.08 12.18 29.12

8 Communi 14.5 1.9 11.2 10.31 25.39

9 Royal B 13.3 1.5 16.35 12.91 13.55

10 First o 13.8 1.8 10.63 12.25 36.99

Mid-Atl 17.2 2 12.72% 11.41%

Midwestern Banks

1 Brenton 18 2.6 14.75% 11.76% $18.19

2 Mid-Ame 12.1 1.5 8.51 11.63 26.49

3 Shoreli 20.3 2.8 19.9 11.34 22.14

4 Second 25.3 2 10.63 10.34 20.52

5 First M 15.6 1.8 11.31 11.49 22.9

6 Gold Ba 27.1 2.8 16.1 13.19 10.68

7 Midwest 18.8 2.6 14.27 10.05 16.77

8 BancFir 19.4 2.2 13.78 10.82 21.81

9 Nationa 11.2 1.2 5.39 10.47 22.78

10 Republi 16.5 1.6 8.52 10.69 12.65

11 Old Sec 13.9 1.6 6.96 11.66 26.31

12 Peoples 16 1.7 8.34 11.18 27.72

13 Merchan 16.3 2 9.39 11.97 23.28

14 Indepen 12 1.8 7.39 10.49 18.78

15 Southwe 12 1.5 3.89 11 26.57

Midwest 17 2 10.61% 11.70%

Southern Banks

1 Premier 26.3 4 34.40% 13.05% $18.64

2 Bank of 20.3 2.6 36.59 11.82 23.55

3 Anchor 25.9 3.2 18.07 12.01 29.72

4 Simmons 14.5 1.6 6.56 12.61 30.72

5 Peoples 16.5 1.8 9.21 11.45 29.35

6 LSB Ban 19 2.4 17.69 11.45 16.01

7 Seacoas 16.7 1.9 8.4 11.68 31.07

8 Union B 19 1.7 8.38 12.36 14.64

9 PAB Ban 19.7 2.4 17.59 10.52 12.73

10 First M 13.1 1.8 7.65 12.25 34.1

11 ABC Ban 11.7 1.4 4.83 11.82 13.68

12 Bank of 12.6 1.8 5.94 10.64 20.2

Souther 17.9 2.2 14.61% 11.81%

Western Banks

1 Greater 18.9 3.2 13.90% 15.04% $28.77

2 Prime B 13.2 2 10.5 12.27 16.05

3 Centenn 17.5 3.1 27.9 15.4 9.4

4 Columbi 17.9 1.9 8.97 13.5 14.37

5 Glacier 17 2.3 21.05 10.07 22.81

6 El Dora 14.6 1.9 7.12 14.39 10.47

7 TriCo B 13.8 1.7 6.98 11.56 18.16

8 Summit 14.5 2.5 15.08 12.84 16.81

9 Pacific 33.8 1.4 5.5 13.46 21.15

10 Cascade 16.8 3.6 25.75 13.22 15.78

Western 17.8 2.4 14.28% 13.18%

All Com 17.2 2.1 12.44% 11.62%

part 4 of 5

Valuatio $ Cost Target

5/28/99 Upside Svg. per Price Merger

Price Potentiaif Mergeif MergePremium

New England Banks

1 Washing$17.50 -13.26% $2.16 $17.34 12.34%

2 Camden 21.5 -12.61 2.6 21.39 12.09

3 New Eng 19.75 -10 3.46 21.24 17.52

4 Merchan 23 14.05 4.82 31.05 20.96

5 Bar Har 20 18.59 2.93 26.65 14.65

6 First I 8.38 26.45 1.28 11.87 15.27

7 Century 17.5 10.74 5.96 25.34 34.06

New Eng 6.73% 18.13%

Mid-Atlantic Banks

1 United $22.63 -3.85% $1.04 $22.79 4.60%

2 JeffBan 25.63 -16.09 6.24 27.74 24.35

3 FCNB Co 19.5 -21.62 2.59 17.87 13.28

4 Communi 23.5 11.53 5.66 31.87 24.09

5 Arrow F 26.75 9.51 6 35.29 22.43

6 Sun Ban 23.5 -6.47 2.37 24.35 10.09

7 Suffolk 26.88 8.34 6.81 35.93 25.34

8 Communi 21.25 19.47 5.66 31.05 26.64

9 Royal B 15.38 -11.86 1.57 15.12 10.21

10 First o 37.5 -1.36 7.54 44.53 20.11

Mid-Atl -1.24% 18.11%

Midwestern Banks

1 Brenton$17.25 5.46% $3.70 $21.89 21.45%

2 Mid-Ame 24.25 9.24 5.02 31.51 20.7

3 Shoreli 27.25 -18.74 4.24 26.38 15.56

4 Second 22.5 -8.79 1.51 22.03 6.71

5 First M 23.75 -3.56 2.67 25.57 11.24

6 Gold Ba 13.56 -21.22 0.67 11.35 4.94

7 Midwest 17.88 -6.21 3.64 20.41 20.36

8 BancFir 24.88 -12.33 5.03 26.84 20.22

9 Nationa 19.88 14.62 3.88 26.66 19.52

10 Republi 11.25 12.44 2.62 15.27 23.29

11 Old Sec 26.13 0.71 7.13 33.44 27.29

12 Peoples 25.38 9.23 6.07 33.79 23.92

13 Merchan 27.38 -14.96 7.27 30.55 26.56

14 Indepen 17 10.47 1.53 20.31 9

15 Southwe 23.25 14.28 10.05 36.62 43.23

Midwest -0.62% 19.60%

Southern Banks

1 Premier$20.81 -10.44% $2.45 $21.09 11.77%

2 Bank of 24 -1.9 2.01 25.56 8.38

3 Anchor 33.63 -11.61 3.33 33.05 9.9

4 Simmons 33.25 -7.62 5.25 35.97 15.79

5 Peoples 32.5 -9.71 7.08 36.43 21.78

6 LSB Ban 20 -19.95 3.27 19.28 16.35

7 Seacoas 33 -5.84 9.53 40.6 28.88

8 Union B 16.5 -11.24 3.94 18.58 23.88

9 PAB Ban 14.94 -14.79 1.53 14.26 10.24

10 First M 30.38 12.26 6.62 40.72 21.79

11 ABC Ban 14.19 -3.59 4.55 18.23 32.07

12 Bank of 19 6.32 6.54 26.74 34.42

Souther -5.65% 19.60%

Western Banks

1 Greater$32.00 -10.08% $3.47 $32.24 10.84%

2 Prime B 17.13 -6.3 3.92 19.97 22.89

3 Centenn 11.75 -20.03 1.44 10.84 12.26

4 Columbi 16.44 -12.56 4.46 18.83 27.13

5 Glacier 20.06 13.67 2.84 25.65 14.16

6 El Dora 11.13 -5.93 2.74 13.21 24.63

7 TriCo B 17.81 1.93 5.63 23.79 31.61

8 Summit 18 -6.59 3.46 20.27 19.22

9 Pacific 20.94 1.01 5.9 27.05 28.18

10 Cascade 15.5 1.83 2.27 18.05 14.65

Western -3.88% 21.21%

All Com -1.43% 19.31%

part 5 of 5

Overall

Upside

Potential

New England Banks

1 Washington Trust Bancorp -0.91%

2 Camden National Corp., C -0.51

3 New England Community Ba 7.54

4 Merchants Bancshares Inc 35

5 Bar Harbor Bankshares, B 33.25

6 First International Banc 41.65

7 Century Bancorp Inc., Me 44.8

New England Community Ba 22.97%

Mid-Atlantic Banks

1 United National Bancorp, 0.73%

2 JeffBanks Inc., Philadel 8.25

3 FCNB Corp., Frederick, M -8.36

4 Community Bank System, D 35.62

5 Arrow Financial Corp., G 31.93

6 Sun Bancorp Inc., Selins 3.62

7 Suffolk Bancorp, Riverhe 33.69

8 Community Banks Inc., Mi 46.12

9 Royal Bancshares of Pa. -1.66

10 First of Long Island, Gl 18.75

Mid-Atlantic Community B 16.87%

Midwestern Banks

1 Brenton Banks Inc., Des 26.90%

2 Mid-America Bancorp, Lou 29.94

3 Shoreline Financial Corp -3.19

4 Second Bancorp Inc., War -2.09

5 First Merchants Corp., M 7.66

6 Gold Banc Corp. Inc., Le -16.31

7 Midwest Banc Holdings In 14.18

8 BancFirst Ohio Corp., Za 7.9

9 National City Bancorp, M 34.14

10 Republic Bancorp Inc., L 35.73

11 Old Second Bancorp Inc., 28

12 Peoples Bancorp Inc., Ma 33.16

13 Merchants Bancorp Inc., 11.6

14 Independent Bank Corp., 19.47

15 Southwest Bancorp Inc., 57.51

Midwestern Community Ban 18.97%

Southern Banks

1 Premier Bancshares, Atla 1.35%

2 Bank of Granite Corp., G 6.5

3 Anchor Financial Corp., -1.71

4 Simmons First National C 8.18

5 Peoples Holding Co., Tup 12.09

6 LSB Bancshares Inc., Lex -3.6

7 Seacoast Banking Corp, S 23.03

8 Union Bankshares Corp., 12.61

9 PAB Bankshares Inc., Val -4.55

10 First M & F Corp., Kosci 34.06

11 ABC Bancorp, Moultrie, G 28.49

12 Bank of the Ozarks Inc., 40.74

Southern Community Bank 13.10%

Western Banks

1 Greater Bay Bancorp, Pal 0.75%

2 Prime Bancshares Inc., H 16.61

3 Centennial Bancorp, Euge -7.74

4 Columbia Banking System, 14.56

5 Glacier Bancorp, Kalispe 27.85

6 El Dorado Bancshares Inc 18.74

7 TriCo Bancshares, Chico, 33.56

8 Summit Bancshares Inc., 12.61

9 Pacific Bank N.A., San F 29.19

10 Cascade Bancorp, Bend, O 16.45

Western Community Bank a 16.24%

All Community Bank avera 17.88% ===

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