Estate of Frank A. Branson - Page 4




                                        - 4 -                                         

          and March's cousin, was president and chief executive officer of            
          Savings and a director and the chairman of the board of Willits.            
               Savings' stock is not traded on any established exchange or            
          over-the-counter market.                                                    
               2.  Net Income                                                         
               For the 12 months that ended on October 31, 1991, Savings              
          had net income of $4,149,000.  For the years 1986 through 1990,2            
          Savings had net income as follows:                                          
                              Year      Net Income                                    
                              1986      $2,531,000                                    
                              1987      2,825,000                                     
                              1988      3,048,000                                     
                              1989      3,128,000                                     
                              1990      3,481,000                                     
               Savings' net income increased on average by approximately              
          10.39 percent per annum for the 5 years preceding decedent's                
          death.                                                                      
               Savings has never had a negative income year.  Earnings for            
          1991 were the best ever.  Furthermore, provisions for loan losses           
          decreased from $670,000 (3.6 percent of total interest income) in           
          1986, to $310,000 (1.1 percent of total interest income) in 1991.           
          Thus, during this time, provisions for loan losses decreased both           
          on an absolute basis and as a percentage of interest income.                


               2The results of the years 1986 through 1990 are for 12                 
          months that ended on December 31.  Net income for the 12 months             
          that ended on Dec. 31, 1991, was $4,278,207, which is 23 percent            
          higher than the same period in 1990.                                        




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