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   &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;2.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&amp;#160;&amp;#160;&amp;#160;MORTGAGE-BACKED SECURITIES&lt;/font&gt;&lt;/div&gt;
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Company&amp;#8217;s available-for-sale Mortgage-Backed Securities portfolio as of June 30,
2009 and December 31, 2008 which were carried at their fair value:&lt;/font&gt;&lt;/div&gt;
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              &lt;td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"&gt;
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      30, 2009&lt;/font&gt;&lt;/div&gt;
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                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Federal
      National&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Mortgage&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Association&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Government&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;National
      Mortgage&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Association&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;
                &lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Total
      Mortgage-&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Backed
      Securities&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="14" valign="bottom"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(dollars
      in thousands)&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Mortgage-Backed&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td align="left" valign="bottom" width="52%"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;Securities,
      gross&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;20,107,289&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;41,473,471&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;1,095,474&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;62,676,234&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td align="left" valign="bottom" width="52%"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Unamortized
      discount&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(23,353&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(31,944&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(86&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(55,383&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Unamortized
      premium&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;249,822&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;703,958&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;27,114&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;980,894&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td align="left" valign="bottom" width="52%"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Amortized
      cost&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;20,333,758&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;42,145,485&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;1,122,502&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;63,601,745&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td valign="bottom" width="52%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td align="left" valign="bottom" width="52%"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Gross
      unrealized gains&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;603,310&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;1,072,807&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;25,281&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;1,701,398&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Gross
      unrealized losses&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(41,163&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(96,489&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(365&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(138,017&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td valign="bottom" width="52%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 4px"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Estimated
      fair value&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;20,895,905&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;43,121,803&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;1,147,418&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;65,165,126&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;
                &lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Amortized
      Cost&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Gross
      Unrealized&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Gain&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Gross
      Unrealized&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Loss&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Estimated
      Fair&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Value&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="14" valign="bottom"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(dollars
      in thousands)&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td align="left" valign="bottom" width="52%"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Adjustable
      rate&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;19,852,419&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;493,547&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(111,885&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;20,234,081&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td valign="bottom" width="52%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Fixed
      rate&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;43,749,326&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;1,207,851&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(26,132&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;44,931,045&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td valign="bottom" width="52%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 4px"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Total&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;63,601,745&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;1,701,398&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(138,017&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;65,165,126&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
      &lt;/div&gt;
    &lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div&gt;
      &lt;div align="left"&gt;
        &lt;table cellpadding="0" cellspacing="0" width="100%"&gt;
            &lt;tr&gt;
              &lt;td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"&gt;
                &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&amp;#160;&lt;/div&gt;
                &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&amp;#160;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;December
      31, 2008&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Federal
      Home Loan&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Mortgage&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Corporation&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Federal
      National&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Mortgage&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Association&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Government&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;National
      Mortgage&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Association&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;
                &lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Total
      Mortgage-&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Backed
      Securities&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="14" valign="bottom"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(dollars
      in thousands)&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td align="left" valign="bottom"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Mortgage-Backed&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td align="left" valign="bottom" width="52%"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;Securities,
      gross&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;19,898,430&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;32,749,123&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;1,259,118&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;53,906,671&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td align="left" valign="bottom" width="52%"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Unamortized
      discount&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(26,733&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(36,647&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(787&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(64,167&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Unamortized
      premium&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;212,354&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;381,433&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;25,694&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;619,481&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td align="left" valign="bottom" width="52%"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Amortized
      cost&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;20,084,051&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;33,093,909&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;1,284,025&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;54,461,985&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td valign="bottom" width="52%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td align="left" valign="bottom" width="52%"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Gross
      unrealized gains&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;297,366&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;468,824&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;14,606&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;780,796&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Gross
      unrealized losses&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(71,195&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(123,443&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(1,148&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(195,786&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td valign="bottom" width="52%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 4px"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Estimated
      fair value&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;20,310,222&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;33,439,290&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;1,297,483&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;55,046,995&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;
                &lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Amortized
      Cost&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Gross
      Unrealized&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Gain&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Gross
      Unrealized&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Loss&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Estimated
      Fair&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Value&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="14" valign="bottom"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(dollars
      in thousands)&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td align="left" valign="bottom" width="52%"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Adjustable
      rate&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;19,509,017&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;287,249&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(178,599&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;19,617,667&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td valign="bottom" width="52%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Fixed
      rate&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;34,952,968&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;493,547&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(17,187&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;35,429,328&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td valign="bottom" width="52%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 4px"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Total&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;54,461,985&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;780,796&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(195,786&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;55,046,995&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
      &lt;/div&gt;
    &lt;/div&gt;
    &lt;div&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;Actual
maturities of Mortgage-Backed Securities are generally shorter than stated
contractual maturities because actual maturities of Mortgage-Backed Securities
are affected by the contractual lives of the underlying mortgages, periodic
payments of principal, and prepayments of principal.&amp;#160;&amp;#160;The following
table summarizes the Company&amp;#8217;s Mortgage-Backed Securities on June 30, 2009 and
December 31, 2008, according to their estimated weighted-average life
classifications:&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div&gt;
      &lt;div align="center"&gt;
        &lt;div align="center"&gt;
          &lt;div align="center"&gt;
            &lt;div align="center"&gt;
              &lt;div align="center"&gt;
                &lt;div align="center"&gt;
                  &lt;div align="center"&gt;
                    &lt;div align="center"&gt;
                      &lt;div align="center"&gt;
                        &lt;div align="center"&gt;
                          &lt;div align="center"&gt;
                            &lt;div align="left"&gt;
                              &lt;div align="center"&gt;
                                &lt;div align="center"&gt;
                                  &lt;div align="center"&gt;
                                    &lt;div align="center"&gt;
                                      &lt;table cellpadding="0" cellspacing="0" width="100%"&gt;
                                          &lt;tr&gt;
                                            &lt;td align="left" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" colspan="6" valign="bottom"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;June
      30, 2009&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" colspan="6" valign="bottom"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;December
      31, 2008&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                          &lt;/tr&gt;
                                          &lt;tr&gt;
                                            &lt;td align="left" valign="bottom"&gt;
                                              &lt;div style="TEXT-ALIGN: center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Weighted-Average
      Life&lt;/font&gt;&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="right" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" colspan="2" valign="bottom"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Fair
      Value&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" colspan="2" valign="bottom"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Amortized&lt;/font&gt;&lt;/div&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Cost&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" colspan="2" valign="bottom"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Fair
      Value&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" colspan="2" valign="bottom"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Amortized&lt;/font&gt;&lt;/div&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Cost&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                          &lt;/tr&gt;
                                          &lt;tr&gt;
                                            &lt;td align="left" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" colspan="14" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(dollars
      in thousands)&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                          &lt;/tr&gt;
                                          &lt;tr bgcolor="#cceeff"&gt;
                                            &lt;td align="left" valign="bottom" width="52%"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Less
      than one year&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;51,189,319&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;50,078,623&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;4,147,646&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;4,181,282&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                          &lt;/tr&gt;
                                          &lt;tr bgcolor="white"&gt;
                                            &lt;td align="left" valign="bottom" width="52%"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Greater
      than one year and less than five years&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;8,643,064&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;8,369,066&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;37,494,312&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;37,102,706&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                          &lt;/tr&gt;
                                          &lt;tr bgcolor="#cceeff"&gt;
                                            &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Greater
      than or equal to five years&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;5,332,743&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;5,154,056&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;13,405,037&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;13,177,997&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                          &lt;/tr&gt;
                                          &lt;tr bgcolor="white"&gt;
                                            &lt;td valign="bottom" width="52%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
                                            &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                          &lt;/tr&gt;
                                          &lt;tr bgcolor="#cceeff"&gt;
                                            &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 4px"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Total&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;65,165,126&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;63,601,745&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;55,046,995&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;54,461,985&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                          &lt;/tr&gt;
                                      &lt;/table&gt;
                                    &lt;/div&gt;
                                  &lt;/div&gt;
                                &lt;/div&gt;
                              &lt;/div&gt;
                            &lt;/div&gt;
                          &lt;/div&gt;
                        &lt;/div&gt;
                      &lt;/div&gt;
                    &lt;/div&gt;
                  &lt;/div&gt;
                &lt;/div&gt;
              &lt;/div&gt;
            &lt;/div&gt;
          &lt;/div&gt;
        &lt;/div&gt;
      &lt;/div&gt;
    &lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 36pt"&gt;&lt;/font&gt;The weighted-average lives of the
Mortgage-Backed Securities at June 30, 2009 and December 31, 2008 in the table
above are based upon data provided through subscription-based financial
information services, assuming constant principal prepayment rates to the reset
date of each security.&amp;#160;&amp;#160;The prepayment model considers current yield,
forward yield, steepness of the yield curve, current mortgage rates, mortgage
rate of the outstanding loans, loan age, margin and volatility.&amp;#160;&amp;#160;The
actual weighted average lives of the Mortgage-Backed Securities could be longer
or shorter than estimated.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;The
following table presents the gross unrealized losses, and estimated fair value
of the Company&amp;#8217;s Mortgage-Backed Securities by length of time that such
securities have been in a continuous unrealized loss position at June 30, 2009
and December 31, 2008.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;
      &lt;div&gt;
        &lt;div align="left"&gt;
          &lt;div align="center"&gt;
            &lt;table cellpadding="0" cellspacing="0" width="100%"&gt;
                &lt;tr&gt;
                  &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td colspan="22" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Unrealized
      Loss Position For:&lt;/font&gt;&lt;/div&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(dollars
      in thousands)&lt;/font&gt;&lt;/div&gt;
                  &lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                &lt;/tr&gt;
                &lt;tr&gt;
                  &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td colspan="6" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Less
      than 12 Months&lt;/font&gt;&lt;/div&gt;
                  &lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td colspan="6" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;12
      Months or More&lt;/font&gt;&lt;/div&gt;
                  &lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td colspan="6" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Total&lt;/font&gt;&lt;/div&gt;
                  &lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                &lt;/tr&gt;
                &lt;tr&gt;
                  &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Estimated&lt;/font&gt;&lt;/div&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Fair
      Value&lt;/font&gt;&lt;/div&gt;
                  &lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Unrealized&lt;/font&gt;&lt;/div&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Losses&lt;/font&gt;&lt;/div&gt;
                  &lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Estimated&lt;/font&gt;&lt;/div&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Fair
      Value&lt;/font&gt;&lt;/div&gt;
                  &lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Unrealized&lt;/font&gt;&lt;/div&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Losses&lt;/font&gt;&lt;/div&gt;
                  &lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Estimated&lt;/font&gt;&lt;/div&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Fair
      Value&lt;/font&gt;&lt;/div&gt;
                  &lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Unrealized&lt;/font&gt;&lt;/div&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Losses&lt;/font&gt;&lt;/div&gt;
                  &lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                &lt;/tr&gt;
                &lt;tr bgcolor="#cceeff"&gt;
                  &lt;td align="left" valign="bottom" width="28%"&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;June
      30, 2009&lt;/font&gt;&lt;/div&gt;
                  &lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;5,259,993&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(27,171&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;3,940,110&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(110,846&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;9,200,103&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(138,017&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
                &lt;/tr&gt;
                &lt;tr bgcolor="white"&gt;
                  &lt;td valign="bottom" width="28%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                &lt;/tr&gt;
                &lt;tr bgcolor="#cceeff"&gt;
                  &lt;td align="left" valign="bottom" width="28%"&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;December
      31, 2008&lt;/font&gt;&lt;/div&gt;
                  &lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;4,631,897&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(65,790&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;4,267,448&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(129,996&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;8,899,345&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(195,786&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
                &lt;/tr&gt;
            &lt;/table&gt;
          &lt;/div&gt;
        &lt;/div&gt;
      &lt;/div&gt;
    &lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;The
decline in value of these securities is solely due to market conditions and not
the quality of the assets.&amp;#160;&amp;#160;All of the Mortgage-Backed Securities are
&amp;#8220;AAA&amp;#8221; rated or carry an implied &amp;#8220;AAA&amp;#8221; rating.&amp;#160;&amp;#160;At June 30, 2009, the
Company does not consider these investments to be other-than-temporarily
impaired because the Company currently does not have the intent to sell the
Investment Securities&amp;#160;and more likely than not, the Company will not be
required to sell the Investment Securities before recovery of their amortized
cost basis, which may be maturity.&amp;#160;&amp;#160;Also, the Company is guaranteed
payment of the principal amount of the securities by the government agency which
created them.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 36pt"&gt;&lt;/font&gt;The adjustable rate Mortgage-Backed
Securities are limited by periodic caps (generally interest rate adjustments are
limited to no more than 1% every nine months) and lifetime caps.&amp;#160;&amp;#160;The
weighted average lifetime cap was 10.1% at&amp;#160;June 30, 2009 and 10.0% at
December 31, 2008.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 36pt"&gt;&lt;/font&gt;During the quarter and six months ended
June 30, 2009, the Company sold $524.2 million and $1.4 billion of
Mortgage-Backed Securities, resulting in a realized gain of $2.4 million and
$7.4 million, respectively.&amp;#160;&amp;#160;During the quarter and six months ended
June 30, 2008, the Company sold $2.1 billion and $6.2 billion of Mortgage-Backed
Securities, resulting in a realized gain of $2.8 million and $12.2 million,
respectively.&lt;/font&gt;&lt;/div&gt;
&lt;/body&gt;
&lt;/html&gt;</nly:MortgageBackedSecuritiesAvailableForeSaleTextBlock>
  <nly:AgencyDebenturesTextBlock contextRef="Cur_6mos_20090630">&lt;html&gt;
    &lt;body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;3.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;AGENCY DEBENTURES&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 36pt"&gt;&lt;/font&gt;At June 30, 2009, the Company owned
agency debentures with a carrying value of $616.9 million, including an
unrealized loss of $6.5 million.&amp;#160;&amp;#160;At December 31, 2008, the Company
owned agency debentures with a carrying value of $598.9 million including an
unrealized loss of $2.8 million.&lt;/font&gt;&lt;/div&gt;
&lt;/body&gt;
&lt;/html&gt;</nly:AgencyDebenturesTextBlock>
  <us-gaap:AvailableForSaleSecuritiesTextBlock contextRef="Cur_6mos_20090630">&lt;html&gt;
    &lt;body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;4.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;AVAILABLE FOR SALE EQUITY
SECURITIES&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 36pt"&gt;&lt;/font&gt;All of the available-for-sale equity
securities are shares of Chimera and are reported at fair value.&amp;#160;&amp;#160;The
Company owned approximately 45.0 million shares of Chimera at a fair value of
approximately $157.0 million at June 30, 2009 and approximately 15.3 million
shares of Chimera at fair value of approximately $52.8 million at December 31,
2008.&amp;#160;&amp;#160;At June 30, 2009 and December 31, 2008, the investment in
Chimera had an unrealized gain of $18.1 million and $4.0 million,
respectively.&lt;/font&gt;&lt;/div&gt;
&lt;/body&gt;
&lt;/html&gt;</us-gaap:AvailableForSaleSecuritiesTextBlock>
  <nly:ReverseRepurchaseAgreementTextBlock contextRef="Cur_6mos_20090630">&lt;html&gt;
    &lt;body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;
   &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;5.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&amp;#160;&amp;#160;&amp;#160;REVERSE REPURCHASE AGREEMENT&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;At June
30, 2009 and December 31, 2008, the Company had lent $123.5 million and $562.1
million, respectively, to Chimera in a weekly reverse repurchase
agreement.&amp;#160;&amp;#160;This amount is included at the principal amount which
approximates fair value in the Company&amp;#8217;s Statement of Financial
Condition.&amp;#160;&amp;#160;The interest rate at June 30, 2009 and December 31, 2008
was at the market rate of 1.79% and 1.43%, respectively.&amp;#160;&amp;#160;The
collateral for this loan is mortgage-backed securities with a fair value of
$183.0 million and $680.8 million at June 30, 2009 and December 31, 2008,
respectively.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;At June
30, 2009, RCap, in its ordinary course of business, financed though matched
repurchase agreements, at current market rates,&amp;#160;$47.4 million for a fund
that is managed by FIDAC.&lt;/font&gt;&lt;/div&gt;
&lt;/body&gt;
&lt;/html&gt;</nly:ReverseRepurchaseAgreementTextBlock>
  <nly:ReceivableFromPrimeBrokerTextBlock contextRef="Cur_6mos_20090630">&lt;html&gt;
    &lt;body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;6.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;RECEIVABLE FROM PRIME BROKER&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;The net
assets of the investment fund owned by the Company are subject
to&amp;#160;English&amp;#160;bankruptcy&amp;#160;law, which&amp;#160;governs the
administration&amp;#160;of Lehman Brothers&amp;#160;International&amp;#160;(Europe)
(&amp;#8220;LBIE&amp;#8221;), as well as the law of New York, which governs the contractual
documents.&amp;#160;&amp;#160;Until&amp;#160;the Company&amp;#8217;s contractual documents&amp;#160;with
LBIE are terminated, the value of the assets and liabilities in its account with
LBIE will continue to fluctuate based on market movements.&amp;#160;&amp;#160;The
Company does not intend to terminate these contractual documents until LBIE's
administrators have clarified&amp;#160;the consequences of doing so. The Company has
not&amp;#160;received notice from LBIE's administrators that LBIE has terminated the
documents.&amp;#160; LBIE&amp;#8217;s&amp;#160;administrators&amp;#160;have advised the Company
that&amp;#160;they&amp;#160;can provide no additional information about the account at
this time.&amp;#160; As a result, the Company has recorded a receivable from LBIE
based on the fair value of its account with LBIE as of September 15, 2008 of
$16.9 million, which is the date of the last statement it received from LBIE on
the account&amp;#8217;s assets and liabilities.&amp;#160; The Company can provide no
assurance, however, that it will recover all or any portion of these assets
following completion of&amp;#160;LBIE's&amp;#160;administration&amp;#160;(and any subsequent
liquidation).&amp;#160;&amp;#160; Based on the information known at June 30, 2009, a
loss was not determined to be probable.&amp;#160;&amp;#160;If additional information
indicates otherwise and it is determined that the loss is probable, the
estimated loss will be reflected in the statement of operations.&lt;/font&gt;&lt;/div&gt;
&lt;/body&gt;
&lt;/html&gt;</nly:ReceivableFromPrimeBrokerTextBlock>
  <us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock contextRef="Cur_6mos_20090630">&lt;html&gt;
    &lt;body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;9.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;INTEREST
RATE SWAPS&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
In connection with the Company&amp;#8217;s interest rate risk management strategy, the
Company hedges a portion of its interest rate risk by entering into derivative
financial instrument contracts. As of June 30, 2009, such instruments are
comprised of interest rate swaps, which in effect modify the cash flows on
repurchase agreements. The use of interest rate swaps creates exposure to credit
risk relating to potential losses that could be recognized if the counterparties
to these instruments fail to perform their obligations under the contracts. In
the event of a default by the counterparty, the Company could have difficulty
obtaining its Mortgage-Backed Securities pledged as collateral for
swaps.&amp;#160;&amp;#160;The Company does not anticipate any defaults by its
counterparties.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;The
Company&amp;#8217;s swaps are used to lock in the fixed rate related to a portion of its
current and anticipated future 30-day term repurchase agreements.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 23.75pt"&gt;&lt;/font&gt;The location and fair value of
derivative instruments reported in the Consolidated Statement of Financial
Position as of June 30, 2009 are as follows:&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&amp;#160;&lt;/div&gt;
    &lt;div&gt;
      &lt;div align="left"&gt;
        &lt;div align="left"&gt;
          &lt;table cellpadding="0" cellspacing="0" width="100%"&gt;
              &lt;tr&gt;
                &lt;td valign="bottom" width="23%" style="PADDING-BOTTOM: 2px"&gt;&amp;#160;&lt;/td&gt;
                &lt;td valign="bottom" width="25%" style="BORDER-BOTTOM: black 2px solid"&gt;
                  &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&amp;#160;&lt;/div&gt;
                  &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Location
      on Statement&lt;/font&gt;&lt;/div&gt;
                  &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;of
      Financial Condition&lt;/font&gt;&lt;/div&gt;
                &lt;/td&gt;
                &lt;td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                &lt;td colspan="2" valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid"&gt;
                  &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;
                  &lt;/div&gt;
                  &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Notional
      Amount&lt;/font&gt;&lt;/div&gt;
                  &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(dollars
      in thousands)&lt;/font&gt;&lt;/div&gt;
                &lt;/td&gt;
                &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                &lt;td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                &lt;td colspan="2" valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid"&gt;
                  &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Net
      Estimated Fair&lt;/font&gt;&lt;/div&gt;
                  &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Value/Carrying
      Value&lt;/font&gt;&lt;/div&gt;
                  &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(dollars
      in thousands)&lt;/font&gt;&lt;/div&gt;
                &lt;/td&gt;
                &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr bgcolor="#cceeff"&gt;
                &lt;td align="left" valign="bottom" width="23%"&gt;
                  &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;June
      30, 2009&lt;/font&gt;&lt;/div&gt;
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="25%"&gt;
                  &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Liabilities&lt;/font&gt;&lt;/div&gt;
                &lt;/td&gt;
                &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="23%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;18,383,650&lt;/font&gt;&lt;/td&gt;
                &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="23%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(722,700&lt;/font&gt;&lt;/td&gt;
                &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;/tr&gt;
              &lt;tr bgcolor="white"&gt;
                &lt;td align="left" valign="bottom" width="23%"&gt;
                  &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;June
      30, 2009&lt;/font&gt;&lt;/div&gt;
                &lt;/td&gt;
                &lt;td align="left" valign="bottom" width="25%"&gt;
                  &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Assets&lt;/font&gt;&lt;/div&gt;
                &lt;/td&gt;
                &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="23%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;1,450,000&lt;/font&gt;&lt;/td&gt;
                &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                &lt;td align="right" valign="bottom" width="23%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;7,267&lt;/font&gt;&lt;/td&gt;
                &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;/tr&gt;
          &lt;/table&gt;
        &lt;/div&gt;
      &lt;/div&gt;
    &lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;The effect
of derivatives on the Statement of Operations and Comprehensive Income is as
follows:&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div&gt;
      &lt;div align="left"&gt;
        &lt;div align="left"&gt;
          &lt;div align="center"&gt;
            &lt;table cellpadding="0" cellspacing="0" width="100%"&gt;
                &lt;tr&gt;
                  &lt;td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td colspan="6" valign="bottom" width="34%" style="BORDER-BOTTOM: black 2px solid"&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&lt;font style="DISPLAY: inline"&gt;Location on Statement of Operations and
      Comprehensive Income&lt;/font&gt;&lt;/font&gt;&lt;/div&gt;
                  &lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                &lt;/tr&gt;
                &lt;tr&gt;
                  &lt;td valign="bottom" width="64%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td colspan="2" valign="bottom" width="16%"&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Interest
      Expense&lt;/font&gt;&lt;/div&gt;
                  &lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td colspan="2" valign="bottom" width="16%"&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Unrealized
      Gain on Interest&lt;/font&gt;&lt;/div&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Rate
      Swaps&lt;/font&gt;&lt;/div&gt;
                  &lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                &lt;/tr&gt;
                &lt;tr&gt;
                  &lt;td valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
                  &lt;td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td colspan="6" valign="bottom" width="34%" style="BORDER-BOTTOM: black 2px solid"&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(dollars
      in thousands)&lt;/font&gt;&lt;/div&gt;
                  &lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                &lt;/tr&gt;
                &lt;tr bgcolor="#cceeff"&gt;
                  &lt;td align="left" valign="bottom" width="64%"&gt;
                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;For
      the Quarter Ended June 30, 2009&lt;/font&gt;&lt;/div&gt;
                  &lt;/td&gt;
                  &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="15%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;175,080&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="right" valign="bottom" width="15%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;230,207&lt;/font&gt;&lt;/td&gt;
                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                &lt;/tr&gt;
            &lt;/table&gt;
          &lt;/div&gt;
        &lt;/div&gt;
      &lt;/div&gt;
    &lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div&gt;
      &lt;table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%"&gt;
          &lt;tr valign="top"&gt;
            &lt;td style="WIDTH: 23.75pt"&gt;
              &lt;div&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/div&gt;
            &lt;/td&gt;
            &lt;td&gt;
              &lt;div align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;The
      weighted average pay rate at June 30, 2009 was 4.20% and the weighted
      average receive rate was 0.38%.&lt;/font&gt;&lt;/div&gt;
            &lt;/td&gt;
          &lt;/tr&gt;
      &lt;/table&gt;
    &lt;/div&gt;
&lt;/body&gt;
&lt;/html&gt;</us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock>
  <nly:NetIncomePerCommonShareBasicAndDilutedTextBlock contextRef="Cur_6mos_20090630">&lt;html&gt;
    &lt;body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;11.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;NET
INCOME PER COMMON SHARE&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 36pt"&gt;&lt;/font&gt;The following table presents a
reconciliation of the net income and shares used in calculating basic and
diluted earnings per share for the quarters and six months ended June 30, 2009
and 2008.&lt;/font&gt;&lt;/div&gt;
    &lt;div&gt;
      &lt;div align="center"&gt;
        &lt;div align="center"&gt;
          &lt;div align="center"&gt;
            &lt;div align="center"&gt;
              &lt;div align="center"&gt;
                &lt;div align="center"&gt;
                  &lt;div align="center"&gt;
                    &lt;div align="center"&gt;
                      &lt;div align="center"&gt;
                        &lt;div align="center"&gt;
                          &lt;div align="center"&gt;
                            &lt;div align="center"&gt;
                              &lt;div align="center"&gt;
                                &lt;div align="center"&gt;
                                  &lt;div align="center"&gt;
                                    &lt;div align="center"&gt;
                                      &lt;div align="left"&gt;
                                        &lt;div align="center"&gt;
                                          &lt;div align="center"&gt;
                                            &lt;div align="center"&gt;
                                              &lt;table cellpadding="0" cellspacing="0" width="100%"&gt;
                                                  &lt;tr&gt;
                                                    &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
                                                    &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td colspan="6" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td colspan="6" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                  &lt;/tr&gt;
                                                  &lt;tr&gt;
                                                    &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
                                                    &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td colspan="6" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                                                      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;For
      the Quarters Ended&lt;/font&gt;&lt;/div&gt;
                                                      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;June
      30,&lt;/font&gt;&lt;/div&gt;
                                                    &lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td colspan="6" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                                                      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;For
      the Six Months&lt;/font&gt;&lt;/div&gt;
                                                      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;June
      30,&lt;/font&gt;&lt;/div&gt;
                                                    &lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                  &lt;/tr&gt;
                                                  &lt;tr&gt;
                                                    &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
                                                    &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                                                      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;2009&lt;/font&gt;&lt;/div&gt;
                                                    &lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                                                      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;2008&lt;/font&gt;&lt;/div&gt;
                                                    &lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                                                      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;2009&lt;/font&gt;&lt;/div&gt;
                                                    &lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                                                      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;2008&lt;/font&gt;&lt;/div&gt;
                                                    &lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                  &lt;/tr&gt;
                                                  &lt;tr bgcolor="#cceeff"&gt;
                                                    &lt;td align="left" valign="bottom" width="52%"&gt;
                                                      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Net
      income attributable to controlling interest&lt;/font&gt;&lt;/div&gt;
                                                    &lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;597,054&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;307,992&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;946,947&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;551,028&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                  &lt;/tr&gt;
                                                  &lt;tr bgcolor="white"&gt;
                                                    &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px"&gt;
                                                      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Less:
      Preferred stock dividends&lt;/font&gt;&lt;/div&gt;
                                                    &lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;4,625&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;5,334&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;9,251&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;10,707&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                  &lt;/tr&gt;
                                                  &lt;tr bgcolor="#cceeff"&gt;
                                                    &lt;td align="left" valign="bottom" width="52%"&gt;
                                                      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Net
      income available to common shareholders, prior to adjustment
      for&amp;#160;&amp;#160;Series B dividends, if necessary&lt;/font&gt;&lt;/div&gt;
                                                    &lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;592,429&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;302,658&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;937,696&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;540,321&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                  &lt;/tr&gt;
                                                  &lt;tr bgcolor="white"&gt;
                                                    &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px"&gt;
                                                      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Add:
      Preferred Series B dividends, if Series B shares are
    dilutive&lt;/font&gt;&lt;/div&gt;
                                                    &lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;977&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;1,685&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;1,955&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;3,410&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                  &lt;/tr&gt;
                                                  &lt;tr bgcolor="#cceeff"&gt;
                                                    &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 4px"&gt;
                                                      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Net
      income available to common shareholders, as adjusted&lt;/font&gt;&lt;/div&gt;
                                                    &lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;593,406&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;304,343&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;939,651&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;543,731&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                  &lt;/tr&gt;
                                                  &lt;tr bgcolor="white"&gt;
                                                    &lt;td align="left" valign="bottom" width="52%"&gt;
                                                      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Weighted
      average shares of common stock outstanding-basic&lt;/font&gt;&lt;/div&gt;
                                                    &lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;544,345&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;503,758&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;543,628&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;473,785&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                  &lt;/tr&gt;
                                                  &lt;tr bgcolor="#cceeff"&gt;
                                                    &lt;td align="left" valign="bottom" width="52%"&gt;
                                                      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Add:&amp;#160;&amp;#160;Effect
      of dilutive stock options and&lt;/font&gt;&lt;/div&gt;
                                                    &lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;38&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;128&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;50&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;235&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                  &lt;/tr&gt;
                                                  &lt;tr bgcolor="white"&gt;
                                                    &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px"&gt;
                                                      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Series
      B Cumulative Convertible Preferred Stock&lt;/font&gt;&lt;/div&gt;
                                                    &lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;5,717&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;8,793&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;5,717&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;8,793&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                  &lt;/tr&gt;
                                                  &lt;tr bgcolor="#cceeff"&gt;
                                                    &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 4px"&gt;
                                                      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Weighted
      average shares of common stock outstanding-diluted&lt;/font&gt;&lt;/div&gt;
                                                    &lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;550,100&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;512,679&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;549,395&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;482,813&lt;/font&gt;&lt;/td&gt;
                                                    &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                                  &lt;/tr&gt;
                                              &lt;/table&gt;
                                            &lt;/div&gt;
                                          &lt;/div&gt;
                                        &lt;/div&gt;
                                      &lt;/div&gt;
                                    &lt;/div&gt;
                                  &lt;/div&gt;
                                &lt;/div&gt;
                              &lt;/div&gt;
                            &lt;/div&gt;
                          &lt;/div&gt;
                        &lt;/div&gt;
                      &lt;/div&gt;
                    &lt;/div&gt;
                  &lt;/div&gt;
                &lt;/div&gt;
              &lt;/div&gt;
            &lt;/div&gt;
          &lt;/div&gt;
        &lt;/div&gt;
      &lt;/div&gt;
    &lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 36pt"&gt;&lt;/font&gt;Options to purchase 4.5 million and 4.5
million shares of common stock were outstanding and considered anti-dilutive as
their exercise price exceeded the average stock price for the quarter and six
months ended June 30, 2009, respectively.&amp;#160;&amp;#160;Options to purchase 1.8
million and 572,000 shares of common stock were outstanding and considered
anti-dilutive as their exercise price exceeded the average stock price for the
quarter and six months ended June 30, 2008, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;/body&gt;
&lt;/html&gt;</nly:NetIncomePerCommonShareBasicAndDilutedTextBlock>
  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="Cur_6mos_20090630">&lt;html&gt;
    &lt;body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;
   &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;12.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;&amp;#160;&lt;/font&gt;LONG-TERM STOCK
INCENTIVE PLAN&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 36pt"&gt;&lt;/font&gt;The Company has adopted a long term
stock incentive plan for executive officers, key employees and non-employee
directors (the &amp;#8220;Incentive Plan&amp;#8221;).&amp;#160;&amp;#160;The Incentive Plan authorizes the
Compensation Committee of the board of directors to grant awards, including
non-qualified options as well as incentive stock options as defined under
Section 422 of the Code.&amp;#160;&amp;#160;The Incentive Plan authorizes the granting
of options or other awards for an aggregate of the greater of 500,000 shares or
9.5% of the diluted outstanding shares of the Company&amp;#8217;s common stock, up to a
ceiling of 8,932,921 shares.&amp;#160;&amp;#160;Stock options are issued at the current
market price on the date of grant, subject to an immediate or four year vesting
in four equal installments with a contractual term of 5 or 10
years.&amp;#160;&amp;#160;The grant date fair value is calculated using the
Black-Scholes option valuation model.&lt;/font&gt;&lt;/div&gt;
    &lt;div&gt;
      &lt;div align="left"&gt;
        &lt;table cellpadding="0" cellspacing="0" width="100%"&gt;
            &lt;tr&gt;
              &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="14" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;For
      the Six Months Ended&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="6" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;June
      30, 2009&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="6" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;June
      30, 2008&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr&gt;
              &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Number
      of&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Shares&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Weighted&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Average&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Exercise&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Price&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Number
      &lt;/font&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;of&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Shares&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Weighted&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Average&lt;/font&gt;&lt;/div&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Exercise
      Price&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td align="left" valign="bottom" width="52%"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Options
      outstanding at the beginning of period&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;5,180,164&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;15.87&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;3,437,267&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;15.23&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td align="left" valign="bottom" width="52%"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Granted&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;2,537,000&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;13.26&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;1,004,900&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;16.45&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td align="left" valign="bottom" width="52%"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Exercised&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(64,262&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;11.24&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(187,217&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;9.77&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td align="left" valign="bottom" width="52%"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Forfeited&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(10,000&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;15.61&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(2,550&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;16.16&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Expired&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(11,250&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;17.32&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(5,000&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;)&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;20.70&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="white"&gt;
              &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 4px"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Options
      outstanding at the end of period&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;7,631,652&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;15.04&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;4,247,400&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;15.76&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
            &lt;tr bgcolor="#cceeff"&gt;
              &lt;td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 4px"&gt;
                &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Options
      exercisable at the end of period&lt;/font&gt;&lt;/div&gt;
              &lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;2,229,577&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;16.13&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;2,060,750&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
              &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;15.92&lt;/font&gt;&lt;/td&gt;
              &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
            &lt;/tr&gt;
        &lt;/table&gt;
      &lt;/div&gt;
    &lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 36pt"&gt;&lt;/font&gt;The weighted average remaining
contractual term was approximately 8.0 years for stock options outstanding and
approximately 5.3 years for stock options exercisable as of June 30,
2009.&amp;#160;&amp;#160;As of June 30, 2009, there was approximately $15.6 million of
total unrecognized compensation cost related to nonvested share-based
compensation awards.&amp;#160;&amp;#160;That cost is expected to be recognized over a
weighted average period of 3.4 years.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 36pt"&gt;&lt;/font&gt;The weighted average remaining
contractual term was approximately 7.4 years for stock options outstanding and
approximately 5.9 years for stock options exercisable as of June 30,
2008.&amp;#160;&amp;#160;As of June 30, 2008, there was approximately $5.3 million of
total unrecognized compensation cost related to nonvested share-based
compensation awards.&amp;#160;&amp;#160;That cost is expected to be recognized over a
weighted average period of 3.2 years.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;During the
six months ended June 30, 2009, the Company granted 7,550 shares of restricted
common stock to certain of its employees.&amp;#160;&amp;#160;As of June 30, 2009, 5,663
of these restricted shares were unvested and subject to
forfeiture.&amp;#160;&amp;#160;During the year ended December 31, 2007, the Company
granted 7,000 shares of restricted common stock to certain of its
employees.&amp;#160;&amp;#160;As of June 30, 2009, 3,360 of these restricted shares were
unvested and subject to forfeiture.&lt;/font&gt;&lt;/div&gt;
&lt;/body&gt;
&lt;/html&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="Cur_6mos_20090630">&lt;html&gt;
    &lt;body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;
	      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&amp;#160;14.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;LEASE
COMMITMENTS AND CONTINGENCIES&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;The
Company has a non-cancelable lease for office space, which commenced in May 2002
and expires in December 2009. The Company&amp;#8217;s aggregate future minimum lease
payments total $266,000.&amp;#160;&amp;#160;&amp;#160;Merganser has a non-cancelable lease
for office space, which commenced on May 2003 and expires in May
2014.&amp;#160;&amp;#160;The following table details the lease payments, net of
sub-lease receipts.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&amp;#160;&lt;/div&gt;
      &lt;div&gt;
        &lt;div align="center"&gt;
          &lt;div align="center"&gt;
            &lt;div align="center"&gt;
              &lt;div align="center"&gt;
                &lt;div align="center"&gt;
                  &lt;div align="left"&gt;
                    &lt;div align="center"&gt;
                      &lt;div align="center"&gt;
                        &lt;div align="center"&gt;
                          &lt;div align="center"&gt;
                            &lt;div align="center"&gt;
                              &lt;div align="center"&gt;
                                &lt;div align="center"&gt;
                                  &lt;div align="center"&gt;
                                    &lt;div align="center"&gt;
                                      &lt;table cellpadding="0" cellspacing="0" width="100%"&gt;
                                          &lt;tr&gt;
                                            &lt;td align="left" valign="bottom" style="PADDING-LEFT: 0pt; PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;

                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Year
      Ending December&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="right" valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Lease
      Commitment&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Sublease
      Income&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Net
      Amount&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                          &lt;/tr&gt;
                                          &lt;tr&gt;
                                            &lt;td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" colspan="10" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                                              &lt;div style="TEXT-ALIGN: center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(dollars
      in thousands)&lt;/font&gt;&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                          &lt;/tr&gt;
                                          &lt;tr bgcolor="#cceeff"&gt;
                                            &lt;td align="left" valign="bottom" width="64%"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;2009
      (remaining)&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;300&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;67&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;233&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                          &lt;/tr&gt;
                                          &lt;tr bgcolor="white"&gt;
                                            &lt;td align="left" valign="bottom" width="64%"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;2010&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;608&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;56&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;552&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                          &lt;/tr&gt;
                                          &lt;tr bgcolor="#cceeff"&gt;
                                            &lt;td align="left" valign="bottom" width="64%"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;2011&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;632&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;-&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;632&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                          &lt;/tr&gt;
                                          &lt;tr bgcolor="white"&gt;
                                            &lt;td align="left" valign="bottom" width="64%"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;2012&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;642&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;-&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;642&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                          &lt;/tr&gt;
                                          &lt;tr bgcolor="#cceeff"&gt;
                                            &lt;td align="left" valign="bottom" width="64%"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;2013&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;682&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;-&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;682&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                          &lt;/tr&gt;
                                          &lt;tr bgcolor="white"&gt;
                                            &lt;td align="left" valign="bottom" width="64%" style="PADDING-BOTTOM: 2px"&gt;
                                              &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Thereafter&lt;/font&gt;&lt;/div&gt;
                                            &lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;189&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;-&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;189&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                          &lt;/tr&gt;
                                          &lt;tr bgcolor="#cceeff"&gt;
                                            &lt;td valign="bottom" width="64%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;3,053&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;123&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;2,930&lt;/font&gt;&lt;/td&gt;
                                            &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                          &lt;/tr&gt;
                                      &lt;/table&gt;
                                    &lt;/div&gt;
                                  &lt;/div&gt;
                                &lt;/div&gt;
                              &lt;/div&gt;
                            &lt;/div&gt;
                          &lt;/div&gt;
                        &lt;/div&gt;
                      &lt;/div&gt;
                    &lt;/div&gt;
                  &lt;/div&gt;
                &lt;/div&gt;
              &lt;/div&gt;
            &lt;/div&gt;
          &lt;/div&gt;
        &lt;/div&gt;
      &lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;From time
to time, the Company is involved in various claims and legal actions arising in
the ordinary course of business.&amp;#160;&amp;#160;In the opinion of management, the
ultimate disposition of these matters will not have a material effect on the
Company&amp;#8217;s consolidated financial statements and therefore no accrual is required
as of June 30, 2009 and December 31, 2008.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;Merganser&amp;#8217;s
prior owners may receive additional consideration as an earn-out during 2012 if
Merganser meets specific performance goals under the merger
agreement.&amp;#160;&amp;#160;The Company cannot currently calculate how much
consideration will be paid under the earn-out provisions because the payment
amount will vary depending upon whether and the extent to which Merganser
achieves specific performance goals.&amp;#160;&amp;#160;Any amounts paid under this
provision will be recorded as additional goodwill.&lt;/font&gt;&lt;/div&gt;
&lt;/body&gt;
&lt;/html&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
  <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="Cur_6mos_20090630">&lt;html&gt;
    &lt;body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;16.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;RELATED
PARTY TRANSACTIONS&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;At June
30, 2009 and December 31, 2008, the Company had lent $123.5 million and $562.1
million, respectively, to Chimera pursuant to a weekly reverse repurchase
agreement.&amp;#160;&amp;#160;This amount is included at the principal amount which
approximates fair value in the Company&amp;#8217;s Statement of Financial
Condition.&amp;#160;&amp;#160;The interest rate at June 30, 2009 and December 31, 2008
was at the market rate of 1.79% and 1.43%, respectively.&amp;#160;&amp;#160;The
collateral for this loan is mortgage-backed securities with a fair value of
$183.0 million and $680.8 million at June 30, 2009 and December 31, 2008,
respectively.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;At June
30, 2009, the Company had $3.2 billion of repurchase agreements outstanding with
RCap.&amp;#160;&amp;#160;The weighted average interest rate is 0.45% and the terms are
one to two months.&amp;#160;&amp;#160;These agreements are collateralized by agency
mortgage backed securities, with an estimated market value of $3.4
billion.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;At June
30, 2009, RCap, in its ordinary course of business, financed through matched
repurchase agreement, at market rates, $47.4 million for a fund managed by
FIDAC.&lt;/font&gt;&lt;/div&gt;
&lt;/body&gt;
&lt;/html&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
  <us-gaap:ScheduleOfSubsequentEventsTextBlock contextRef="Cur_6mos_20090630">&lt;html&gt;
    &lt;body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;17.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;SUBSEQUENT
EVENTS&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 36pt"&gt;&lt;/font&gt;At August 4, 2009, the Company had lent
$372.6 million to Chimera in a reverse repurchase agreement.&amp;#160;&amp;#160;At
August 4, 2009, the Company had $4.3 billion of repurchase agreements
outstanding with RCap.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;Effective
July 1, 2009&amp;#160;the Company entered into a lease extension and modification
agreement for our offices at 1211 Ave of the Americas New York, NY 10036.&amp;#160;
The Company&amp;#160;modified its existing lease to allow for the addition of space
contiguous to its&amp;#160;existing space for the remaining six months of 2009.
&amp;#160;In addition, the Company extended its existing lease, effective January 1,
2010 to December 31, 2014, to included the space leased in 2009 as well as
additional space that will become available on or prior to January 1,
2010.&lt;/font&gt;&lt;/div&gt;
&lt;/body&gt;
&lt;/html&gt;</us-gaap:ScheduleOfSubsequentEventsTextBlock>
  <us-gaap:ManagementOfRisksInherentInServicingAssetsAndServicingLiabilitiesTextBlock contextRef="Cur_6mos_20090630">&lt;html&gt;
    &lt;body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;15.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;INTEREST
RATE RISK&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;The
primary market risk to the Company is interest rate risk.&amp;#160;&amp;#160;Interest
rates are highly sensitive to many factors, including governmental monetary and
tax policies, domestic and international economic and political considerations
and other factors beyond the Company&amp;#8217;s control.&amp;#160;&amp;#160;Changes in the
general level of interest rates can affect net interest income, which is the
difference between the interest income earned on interest-earning assets and the
interest expense incurred in connection with the interest-bearing liabilities,
by affecting the spread between the interest-earning assets and interest-bearing
liabilities.&amp;#160;&amp;#160;Changes in the level of interest rates also can affect
the value of the Investment Securities and the Company&amp;#8217;s ability to realize
gains from the sale of these assets.&amp;#160;&amp;#160;A decline in the value of the
Investment Securities pledged as collateral for borrowings under repurchase
agreements could result in the counterparties demanding additional collateral
pledges or liquidation of some of the existing collateral to reduce borrowing
levels.&amp;#160;&amp;#160;Liquidation of collateral at losses could have an adverse
accounting impact, as discussed in Note 1.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;The
Company seeks to manage the extent to which net income changes as a function of
changes in interest rates by matching adjustable-rate assets with variable-rate
borrowings.&amp;#160;&amp;#160;The Company may seek to mitigate the potential impact on
net income of periodic and lifetime coupon adjustment restrictions in the
portfolio of Investment Securities by entering into interest rate agreements
such as interest rate caps and interest rate swaps. As of June 30, 2009, the
Company had entered into interest rate swaps to pay a fixed rate and receive a
floating rate of interest, with a total notional amount of $19.8
billion.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;Changes in
interest rates may also have an effect on the rate of mortgage principal
prepayments and, as a result, prepayments on Mortgage-Backed
Securities.&amp;#160;&amp;#160;The Company will seek to mitigate the effect of changes
in the mortgage principal repayment rate by balancing assets purchased at a
premium with assets purchased at a discount.&amp;#160;&amp;#160;To date, the aggregate
premium exceeds the aggregate discount on the Mortgage-Backed
Securities.&amp;#160;&amp;#160;As a result, prepayments, which result in the expensing
of unamortized premium, will reduce net income compared to what net income would
be absent such prepayments.&lt;/font&gt;&lt;/div&gt;
&lt;/body&gt;
&lt;/html&gt;</us-gaap:ManagementOfRisksInherentInServicingAssetsAndServicingLiabilitiesTextBlock>
  <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="Cur_6mos_20090630">&lt;html&gt;
    &lt;body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;1.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;ORGANIZATION
AND SIGNIFICANT ACCOUNTING POLICIES&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Annaly
Capital Management, Inc. (&amp;#8220;Annaly&amp;#8221; or the &amp;#8220;Company&amp;#8221;) was incorporated in
Maryland on November 25, 1996.&amp;#160;&amp;#160;The Company commenced its operations
of purchasing and managing an investment portfolio of mortgage-backed securities
on February 18, 1997, upon receipt of the net proceeds from the private
placement of equity capital, and completed its initial public offering on
October 14, 1997.&amp;#160;&amp;#160;The Company is a real estate investment trust
(&amp;#8220;REIT&amp;#8221;) under the Internal Revenue Code of 1986, as amended.&amp;#160;&amp;#160;Fixed
Income Discount Advisory Company (&amp;#8220;FIDAC&amp;#8221;) is a registered investment advisor
and is a wholly owned taxable REIT subsidiary of the Company. &amp;#160;During the
third quarter of 2008, the Company formed RCap Securities, Inc.
(&amp;#8220;RCap&amp;#8221;).&amp;#160;&amp;#160;RCap was granted membership in the Financial Industry
Regulatory Authority (&amp;#8220;FINRA&amp;#8221;) on January 26, 2009, and&amp;#160;&amp;#160;operates as
broker-dealer.&amp;#160;&amp;#160;RCap is a wholly owned taxable REIT subsidiary of the
Company.&amp;#160;&amp;#160;On October 31, 2008, the Company acquired Merganser Capital
Management, Inc. (&amp;#8220;Merganser&amp;#8221;).&amp;#160;&amp;#160;Merganser is a registered investment
advisor and is a wholly owned taxable REIT subsidiary of the
Company.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;A summary of the Company&amp;#8217;s
significant accounting policies follows&lt;/font&gt;:&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Basis of Presentation - &lt;/font&gt;The
accompanying unaudited consolidated financial statements have been prepared in
conformity with the instructions to Form 10-Q and Article 10, Rule 10-01 of
Regulation S-X for interim financial statements.&amp;#160;&amp;#160;Accordingly, they
may not include all of the information and footnotes required by accounting
principles generally accepted in the United States of America
(&amp;#8220;GAAP&amp;#8221;).&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;The
consolidated interim financial statements are unaudited; however, in the opinion
of the Company's management, all adjustments, consisting only of normal
recurring accruals, necessary for a fair statement of the financial positions,
results of operations, and cash flows have been included. These unaudited
consolidated financial statements should be read in conjunction with the audited
consolidated financial statements included in the Company's Annual Report on
Form 10-K for the year ended December 31, 2008. The nature of the Company's
business is such that the results of any interim period are not necessarily
indicative of results for a full year. The consolidated financial statements
include the accounts of the Company, FIDAC, Merganser, RCap and an affiliated
investment fund (the &amp;#8220;Fund&amp;#8221;).&amp;#160;&amp;#160;The Fund is a wholly owned subsidiary
of the Company whose assets are subject to&amp;#160;the administration&amp;#160;of
Lehman Brothers International (Europe) (&amp;#8220;LBIE&amp;#8221;) under
English&amp;#160;bankruptcy&amp;#160;law.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-STYLE: italic"&gt;&amp;#160;Cash and Cash
Equivalents&lt;/font&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt"&gt; - Cash and cash
equivalents include cash on hand and cash held in money market funds on an
overnight basis&lt;/font&gt;.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Reverse Repurchase
Agreements&lt;/font&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold"&gt; - &lt;/font&gt;The
Company may invest its daily available cash balances via reverse repurchase
agreements to provide additional yield on its assets.&amp;#160;&amp;#160;These
investments will typically be recorded as short term investments and will
generally mature daily.&amp;#160;&amp;#160;Reverse repurchase agreements are recorded at
cost and are collateralized by mortgage-backed securities pledged by the
counterparty to the agreement.&amp;#160;&amp;#160;Reverse repurchase agreements entered
into by RCap are part of the subsidiary&amp;#8217;s daily matched book trading
activity.&amp;#160;&amp;#160;These reverse repurchase agreements are recorded on trade
date at the contract amount, are collateralized by mortgage backed securities
and generally mature within 30 days.&amp;#160;&amp;#160;Margin calls are made by RCap as
appropriate based on the daily valuation of the underlying collateral versus the
contract price.&amp;#160;&amp;#160;RCap generates income from the spread between what is
earned on the reverse repurchase agreements and what is paid on the matched
repurchase agreements.&amp;#160;&amp;#160;&amp;#160;Cash flows related to RCap&amp;#8217;s matchbook
activity are included in cash flows from operating activity.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Mortgage-Backed Securities and
Agency Debentures&lt;/font&gt; - The Company invests primarily in mortgage
pass-through certificates, collateralized mortgage obligations and other
mortgage-backed securities representing interests in or obligations backed by
pools of mortgage loans, and certificates guaranteed by the Government National
Mortgage Association (&amp;#8220;Ginnie Mae&amp;#8221;), the Federal Home Loan Mortgage Corporation
(&amp;#8220;Freddie Mac&amp;#8221;), and the Federal National Mortgage Association (&amp;#8220;Fannie
Mae&amp;#8221;)&amp;#160;&amp;#160;(collectively, &amp;#8220;Mortgage-Backed
Securities&amp;#8221;).&amp;#160;&amp;#160;&amp;#160;The Company also invests in agency debentures
issued by Federal Home Loan Banks (&amp;#8220;FHLBs&amp;#8221;), Freddie Mac and Fannie Mae. The
Mortgage-Backed Securities and agency debentures are collectively referred to
herein as &amp;#8220;Investment Securities.&amp;#8221;&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
 &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;Statement
of Financial Accounting Standards (&amp;#8220;SFAS&amp;#8221;) No. 115&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;, Accounting for Certain Investments
in Debt and Equity Securities &lt;/font&gt;(&amp;#8220;SFAS 115&amp;#8221;), requires the Company to
classify its Investment Securities as either trading investments,
available-for-sale investments or held-to-maturity
investments.&amp;#160;&amp;#160;Although the Company generally intends to hold most of
its Investment Securities until maturity, it may, from time to time, sell any of
its Investment Securities as part of its overall management of its
portfolio.&amp;#160;&amp;#160;Accordingly, SFAS 115 requires the Company to classify all
of its Investment Securities as available-for-sale.&amp;#160;&amp;#160;All assets
classified as available-for-sale are reported at estimated fair value, based on
market prices from independent sources, with unrealized gains and losses
excluded from earnings and reported as a separate component of stockholders&amp;#8217;
equity.&amp;#160;&amp;#160;The Company&amp;#8217;s investment in Chimera Investment Corporation
(&amp;#8220;Chimera&amp;#8221;) is accounted for as available-for-sale equity securities under the
provisions of SFAS 115.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;Management
evaluates securities for other-than-temporary impairment at least on a quarterly
basis, and more frequently when economic or market concerns warrant such
evaluation.&amp;#160;&amp;#160;Based on the guidance provided by Financial Accounting
Standards Board (&amp;#8220;FASB&amp;#8221;), the FASB issued FSP FAS 115-2 and FSP FAS 124-2, &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Recognition and Presentation of
Other Than Temporary Impairments&lt;/font&gt;.&amp;#160;&amp;#160;&amp;#160;FSP FAS 115-2 and FSP
FAS 124-2 are effective for interim and annual periods ending after June 15,
2009, with early adoption permitted for periods ending after March 15, 2009 and
the Company decided to early adopt these two FSPs.&amp;#160;&amp;#160;Under these FSPs,
the Company determines if it has (1) the intent to sell the Investment
Securities, (2) it is more likely than not that it will be required to sell the
securities before recovery, or (3) it does not expect to recover the entire
amortized cost basis of the Investment Securities.&amp;#160;&amp;#160;Further, the
security is analyzed for credit loss (the difference between the present value
of cash flows expected to be collected and the amortized cost
basis).&amp;#160;&amp;#160;The credit loss, if any, will then be recognized in the
statement of earnings, while the balance of impairment related to other factors
will be recognized in other comprehensive income (&amp;#8220;OCI&amp;#8221;). For the quarters ended
June 30, 2009 and 2008, the Company did not have unrealized losses on Investment
Securities that were deemed other than temporary.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;SFAS No.
107, &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Disclosure About Fair
Value of Financial Instruments&lt;/font&gt;, requires disclosure of the fair value of
financial instruments for which it is practicable to estimate that
value.&amp;#160;&amp;#160;The estimated fair value of Investment Securities,
available-for-sale equity securities, trading securities, trading securities
sold, not yet purchased, receivable from prime broker and interest rate swaps is
equal to their carrying value presented in the consolidated statements of
financial condition.&amp;#160;&amp;#160;Cash and cash equivalents, reverse repurchase
agreements, accrued interest and dividends receivable, receivable for securities
sold, receivable for advisory and service fees, repurchase agreements with
maturities shorter than one year, payable for Investment Securities purchased,
dividends payable, accounts payable and other liabilities, and accrued interest
payable, generally approximates fair value as of June 30, 2009 due to the short
term nature of these financial instruments.&amp;#160;&amp;#160;The estimated fair value
of long term structured repurchase agreements is reflected in the Note 8 to the
financial statements.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;Interest&amp;#160;income
is accrued based on the outstanding principal amount of the Investment
Securities and their contractual terms.&amp;#160;&amp;#160;Premiums and discounts
associated with the purchase of the Investment Securities are amortized into
interest income over the projected lives of the securities using the interest
method.&amp;#160;&amp;#160;The Company&amp;#8217;s policy for estimating prepayment speeds for
calculating the effective yield is to evaluate historical performance, consensus
prepayment speeds, and current market conditions.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;Investment
Securities transactions are recorded on the trade date.&amp;#160;&amp;#160;Purchases of
newly-issued securities are recorded when all significant uncertainties
regarding the characteristics of the securities are removed, generally shortly
before settlement date.&amp;#160;&amp;#160;Realized gains and losses on sales of
Investment Securities are determined on the specific identification
method.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Derivative Financial
Instruments/Hedging Activity&lt;/font&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic"&gt; -&lt;/font&gt; Prior
to the fourth quarter of 2008, the Company designated interest rate swaps as
cash flow hedges, whereby the swaps were recorded at fair value on the balance
sheet as assets and liabilities with any changes in fair value recorded in
OCI.&amp;#160;&amp;#160;In a cash flow hedge, a swap would exactly match the pricing
date of the relevant repurchase agreement.&amp;#160;&amp;#160;Through the end of the
third quarter of 2008 the Company continued to be able to effectively match the
swaps with the repurchase agreements therefore entering into effective hedge
transactions.&amp;#160;&amp;#160;However, due to the volatility of the credit markets,
it is no longer practical to match the pricing dates of both the swaps and the
repurchase agreements.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;As a
result, the Company voluntarily discontinued hedge accounting after the third
quarter of 2008 through a combination of de-designating previously defined hedge
relationships and not designating new contracts as cash flow hedges.&amp;#160; The
de-designation of cash flow hedges was done in accordance with SFAS No. 133,
&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Accounting for Derivative
Instruments and Hedging Activities, &lt;/font&gt;and Derivatives Implementation Group
&amp;#8220;DIG&amp;#8221; Issue Nos. G3, G17, G18&amp;#160;&amp;#160;&amp;amp; G20, which generally requires
that the net derivative gain or loss related to the discontinued cash flow hedge
should continue to be reported in accumulated OCI, unless it is probable that
the forecasted transaction will not occur by the end of the originally specified
time period or within an additional two-month period of time thereafter.&amp;#160;
The Company continues to hold repurchase agreements in excess of swap contracts
and has no indication that interest payments on the hedged repurchase agreements
are in jeopardy of discontinuing.&amp;#160;&amp;#160;Therefore, the deferred losses
related to these derivatives that have been de-designated will not be recognized
immediately and will remain in OCI. These losses are reclassified into earnings
during the contractual terms of the swap agreements starting as of October 1,
2008.&amp;#160; Changes in the unrealized gains or losses on the interest rate swaps
subsequent to September 30, 2008 are reflected in the Company&amp;#8217;s statement of
operations.&amp;#160;&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Credit Risk&lt;/font&gt; &amp;#8211; The Company has
limited its exposure to credit losses on its portfolio of Investment Securities
by only purchasing securities issued by Freddie Mac, Fannie Mae, or Ginnie Mae
and agency debentures issued by the FHLB, Freddie Mac and Fannie
Mae.&amp;#160;&amp;#160;The payment of principal and interest on the Freddie Mac, and
Fannie Mae Mortgage-Backed Securities are guaranteed by those respective
agencies, and the payment of principal and interest on the Ginnie Mae
Mortgage-Backed Securities are backed by the full faith and credit of the U.S.
government.&amp;#160;&amp;#160;Principal and interest on agency debentures are
guaranteed by the agency issuing the debenture.&amp;#160;&amp;#160;All of the Company&amp;#8217;s
Investment Securities have an actual or implied &amp;#8220;AAA&amp;#8221; rating.&amp;#160;&amp;#160;The
Company faces credit risk on the portions of its portfolio which are not
Investment Securities.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Market Risk - &lt;/font&gt;The current
situation in the mortgage sector and the current weakness in the broader
mortgage market could adversely affect one or more of the Company&amp;#8217;s lenders and
could cause one or more of the Company&amp;#8217;s lenders to be unwilling or unable to
provide additional financing. &amp;#160;This could potentially increase the
Company&amp;#8217;s financing costs and reduce liquidity.&amp;#160; If one or more major
market participants fails, it could negatively impact the marketability of all
fixed income securities, including agency mortgage securities.&amp;#160;&amp;#160;This
could negatively impact the value of the securities in the Company&amp;#8217;s portfolio,
thus reducing its net book value.&amp;#160; Furthermore, if many of the Company&amp;#8217;s
lenders are unwilling or unable to provide additional financing, the Company
could be forced to sell its&amp;#160;Investment Securities at an inopportune
time&amp;#160;when prices are depressed.&amp;#160;&amp;#160;Even with the current situation
in the mortgage sector, the Company does not anticipate having difficulty
converting its assets to cash or extending financing terms due to the fact that
its Investment Securities have an actual or implied &amp;#8220;AAA&amp;#8221; rating and principal
payment is guaranteed by Freddie Mac, Fannie Mae, or Ginnie Mae.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Repurchase Agreements&lt;/font&gt; - The
Company finances the acquisition of its Investment Securities through the use of
repurchase agreements. Repurchase agreements are treated as collateralized
financing transactions and are carried at their contractual amounts, including
accrued interest, as specified in the respective
agreements.&amp;#160;&amp;#160;&amp;#160;Repurchase agreements entered into by RCap are
matched with reverse repurchase agreements and are recorded on trade date with
the duration of such repurchase agreements mirroring those of the matched
reverse repurchase agreements.&amp;#160;&amp;#160;The repurchase agreements are recorded
at the contract amount and margin calls are filled by RCap as required based on
any deficiencies in collateral versus the contract price. RCap generates income
from the spread between what is earned on the reverse repurchase agreements and
what is paid on the repurchase agreements.&amp;#160;&amp;#160;Intercompany transactions
are eliminated in the statement of financial condition, statement of operations,
and statement of cash flows.&amp;#160;&amp;#160;Cash flows related to RCap&amp;#8217;s repurchase
agreements are included in cash flows from operating activity.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Cumulative Convertible Preferred
Stock&lt;/font&gt;- The Company classifies its Series B Cumulative Convertible
Preferred Stock (&amp;#8220;Series B Preferred Stock&amp;#8221;) on the consolidated statements of
financial condition using the guidance in SEC Accounting Series Release No. 268,
&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Presentation in Financial
Statements of &amp;#8220;Redeemable Preferred Stocks,&amp;#8221; &lt;/font&gt;and Emerging Issues Task
Force (&amp;#8220;EITF&amp;#8221;) Topic D-98&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;,
Classification and Measurement of Redeemable Securities&lt;/font&gt;.&amp;#160;&amp;#160;The
Series B Preferred Stock contains fundamental change provisions that allow the
holder to redeem the Series B&amp;#160;Preferred Stock for cash if certain events
occur.&amp;#160;&amp;#160;As redemption under these provisions is not solely within the
Company&amp;#8217;s control, the Company has classified the Series B Preferred Stock as
temporary equity in the accompanying consolidated statements of financial
condition.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;The
Company has analyzed whether the embedded conversion option should be bifurcated
under the guidance in SFAS No. 133 and EITF Issue No. 00-19, &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Accounting for Derivative Financial
Instruments Indexed to, and Potentially Settled in, a Company&amp;#8217;s Own
Stock&lt;/font&gt;, and has determined that bifurcation is not necessary.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Income Taxes&lt;/font&gt; - The Company
has elected to be taxed as a REIT and intends to comply with the provisions of
the Internal Revenue Code of 1986, as amended (the &amp;#8220;Code&amp;#8221;), with respect
thereto.&amp;#160;&amp;#160;Accordingly, the Company will not be subjected to federal
income tax to the extent of its distributions to shareholders and as long as
certain asset, income and stock ownership tests are met.&amp;#160;&amp;#160;The Company
and each of its subsidiaries, FIDAC, Merganser, and RCap, have made separate
joint elections to treat each subsidiary as a taxable REIT subsidiary of the
Company.&amp;#160;&amp;#160;As such, each of the taxable REIT subsidiaries are taxable
as a domestic C corporation and subject to federal, state, and local income
taxes based upon its taxable income.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Use of Estimates &lt;/font&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;- &lt;/font&gt;The preparation of the
consolidated financial statements in conformity with GAAP requires management to
make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenses
during the reporting period.&amp;#160;&amp;#160;Actual results could differ from those
estimates.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Goodwill and &lt;/font&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Intangible assets&lt;/font&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt; -&lt;/font&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;&amp;#160;&lt;/font&gt;The Company&amp;#8217;s
acquisitions of FIDAC and Merganser were accounted for using the purchase
method. Under the purchase method, net assets and results of operations of
acquired companies are included in the consolidated financial statements from
the date of acquisition. In addition, the costs of FIDAC and Merganser were
allocated to the assets acquired, including identifiable intangible assets, and
the liabilities assumed based on their estimated fair values at the date of
acquisition. The excess of purchase price over the fair value of the net assets
acquired was recognized as goodwill.&amp;#160;&amp;#160;Goodwill and intangible assets
are periodically (but not less frequently than annually) reviewed for potential
impairment.&amp;#160;&amp;#160;Intangible assets with an estimated useful life are
expected to amortize over a 10.7 year weighted average time
period.&amp;#160;&amp;#160;During the quarters and six months ended June 30, 2009 and
2008, there were no impairment losses.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Stock Based
Compensation&lt;/font&gt;&amp;#160;-&amp;#160;The Company accounts for its stock-based
compensation in accordance with SFAS No. 123 (Revised 2004) &amp;#8211; &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Share-Based Payment&lt;/font&gt; (&amp;#8220;SFAS
123R&amp;#8221;).&amp;#160;&amp;#160;SFAS 123R&amp;#160;requires the Company to measure and recognize
in the consolidated financial statements the compensation cost relating to
share-based payment transactions.&amp;#160;&amp;#160;The compensation cost should be
reassessed based on the fair value of the equity instruments
issued.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;The
Company recognizes compensation expense on a straight-line basis over the
requisite service period for the entire award (that is, over the requisite
service period of the last separately vesting portion of the
award).&amp;#160;&amp;#160;The Company estimated fair value using the Black-Scholes
valuation model.&amp;#160;&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Fair Value Measurement - &lt;/font&gt;In
September 2006, the FASB issued SFAS No. 157, &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Fair Value Measurements
&lt;/font&gt;(&amp;#8220;SFAS 157&amp;#8221;).&amp;#160;&amp;#160;SFAS 157 defines fair value, establishes a
framework for measuring fair value and requires enhanced disclosures about fair
value measurements.&amp;#160;&amp;#160;SFAS 157 requires companies to disclose the fair
value of their financial instruments according to a fair value hierarchy (i.e.,
levels 1, 2, and 3, as defined).&amp;#160;&amp;#160;Additionally, companies are required
to provide enhanced disclosure regarding instruments in the level 3 category
(the valuation of which require significant management judgment), including a
reconciliation of the beginning and ending balances separately for each major
category of assets and liabilities.&amp;#160;&amp;#160;SFAS 157 was adopted by the
Company on January 1, 2008.&amp;#160;&amp;#160;SFAS 157 did not have an impact on the
manner in which the Company estimates fair value, but it requires additional
disclosure, which is included in Note 7.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"&gt;A
summary of Recent Accounting Pronouncements Follows:&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;In
February 2008,&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;&amp;#160;&lt;/font&gt;FASB issued FASB Staff
Position No. FAS 140-3&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;&amp;#160;&lt;/font&gt;&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Accounting for Transfers of
Financial Assets and Repurchase Financing Transactions&lt;/font&gt; (&amp;#8220;FSP FAS
140-3&amp;#8221;).&amp;#160;&amp;#160;FSP FAS 140-3 addresses whether transactions&amp;#160;where
assets purchased from a particular counterparty and financed through a
repurchase agreement with the same counterparty can be considered and accounted
for as separate transactions, or are required to be considered &amp;#8220;linked&amp;#8221;
transactions and may be considered derivatives under SFAS 133.&amp;#160;&amp;#160;FSP
FAS 140-3 requires purchases and subsequent financing through repurchase
agreements be considered linked transactions unless all of the following
conditions apply:&amp;#160;&amp;#160;(1) the initial purchase and the use of repurchase
agreements to finance the purchase are not contractually contingent upon each
other; (2) the repurchase financing entered into between the parties provides
full&amp;#160;&amp;#160;recourse to the transferee and the repurchase price is fixed;
(3) the financial assets are readily obtainable in the market; and (4) the
financial instrument and the repurchase agreement are not
coterminous.&amp;#160;&amp;#160;This FSP was effective for the Company on January 1,
2009.&amp;#160;&amp;#160;The implementation of this FSP did not have a material effect
on the financial statements of the Company.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;On January
1, 2009, the Company adopted &lt;a name="jump_exp_1"&gt;SFAS &lt;/a&gt;&lt;a name="jump_exp_2"&gt;160,
&lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Noncontrolling Interests in
Consolidated Financial Statements,&lt;/font&gt; &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;an Amendment of ARB No. 51
&lt;/font&gt;(&amp;#8220;SFAS 160&amp;#8221;), which requires the Company to make certain changes to the
presentation of its financial statements. This standard requires the Company to
classify noncontrolling interests (previously referred to as &amp;#8220;minority
interest&amp;#8221;) as part of consolidated net income and to include the accumulated
amount of noncontrolling interests as part of stockholders&amp;#8217; equity. Similarly,
in its presentation of stockholders&amp;#8217; equity, the Company distinguishes between
equity amounts attributable to controlling interest and amounts attributable to
the noncontrolling interests &amp;#8211; previously classified as minority interest
outside of stockholders&amp;#8217; equity.&amp;#160;For the quarter ended June 30, 2009, the
Company does not have any consolidated noncontrolling interest. In addition to
these financial reporting changes, &lt;/a&gt;&lt;a name="jump_exp_3"&gt;SFAS &lt;/a&gt;&lt;a name="jump_exp_4"&gt;160 provides for significant changes in accounting related to
noncontrolling interests; specifically, increases and decreases in its
controlling financial interests in consolidated subsidiaries will be reported in
equity similar to treasury stock transactions. If a change in ownership of a
consolidated subsidiary results in loss of control and deconsolidation, any
retained ownership interests are remeasured with the gain or loss reported in
net earnings. Since the first quarter of 2008, the Company did not have any
noncontrolling interest in any of its subsidiaries. However, the retrospective
effect of the presentation and disclosure requirement under SFAS 160 was
applied.&lt;/a&gt;&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;In
December&amp;#160;2007, the FASB issued SFAS No.&amp;#160;141 (revised 2007), &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Business Combinations&lt;/font&gt;, (&amp;#8220;SFAS
141R&amp;#8221;) which replaces SFAS No.&amp;#160;141, &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Business Combinations&lt;/font&gt;. SFAS
141R establishes principles and requirements for recognizing and measuring
identifiable assets and goodwill acquired, liabilities assumed and any
noncontrolling interest in a business combination at their fair value at
acquisition date. SFAS 141R alters the treatment of acquisition-related costs,
business combinations achieved in stages (referred to as a step acquisition),
the treatment of gains from a bargain purchase, the recognition of contingencies
in business combinations, the treatment of in-process research and development
in a business combination as well as the treatment of recognizable deferred tax
benefits. SFAS 141R is effective for business combinations closed in fiscal
years beginning after December&amp;#160;15, 2008. SFAS &lt;a name="jump_exp_5"&gt;141R is
applicable to business acquisitions completed after January&amp;#160;1,
2009.&amp;#160;&amp;#160;The Company did not make any business acquisitions during the
quarter ended June&amp;#160;30, 2009. The&amp;#160;&amp;#160;adoption of SFAS &lt;/a&gt;&lt;a name="jump_exp_6"&gt;141R did not have a material impact on the Company&amp;#8217;s
consolidated financial statements.&lt;/a&gt;&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;In March
2008, the FASB issued SFAS No. 161 (&amp;#8220;SFAS 161&amp;#8221;), &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Disclosures about Derivative
Instruments and Hedging Activities, and an Amendment of FASB Statement No.
133&lt;/font&gt;.&amp;#160;&amp;#160;SFAS 161 attempts to improve the transparency of
financial reporting by mandating the provision of additional information about
how derivative and hedging activities affect an entity&amp;#8217;s financial position,
financial performance and cash flows.&amp;#160;&amp;#160;This statement changes the
disclosure requirements for derivative instruments and hedging activities by
requiring enhanced disclosure about (1) how and why an entity uses derivative
instruments, (2) how derivative instruments and related hedged items are
accounted for under SFAS 133 and its related interpretations, and (3) how
derivative instruments and related hedged items affect an entity&amp;#8217;s financial
position, financial performance, and cash flows.&amp;#160;&amp;#160;To meet these
mandates, SFAS 161 requires qualitative disclosures about objectives and
strategies for using derivatives, quantitative disclosures about fair value
amounts, gains and losses on derivative instruments, and disclosures about
credit-risk-related contingent features in derivative
agreements.&amp;#160;&amp;#160;This disclosure framework is intended to better convey
the purpose of derivative use in terms of the risks that an entity is intending
to manage.&amp;#160;&amp;#160;SFAS 161 was effective for the Company as of January 1,
2009 and was adopted prospectively.&amp;#160;&amp;#160;&amp;#160;The Company discontinued
hedge accounting as of September 30, 2008, and therefore the effect of the
adoption of SFAS 161 will be a minimal increase in footnote
disclosures.&amp;#160;&amp;#160;&amp;#160;A table of the effect of the de-designated swap
transactions is included to indicate the effect on OCI and Other Income
(Expense) in Note 9.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;On October
10, 2008, FASB issued FASB Staff Position (FSP) 157-3, &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Determining the Fair Value of a
Financial Asset When the Market for That Asset Is Not Active &lt;/font&gt;(&amp;#8220;FSP
157-3&amp;#8221;), in response to the deterioration of the credit markets.&amp;#160;&amp;#160;This
FSP provides guidance clarifying how SFAS 157 should be applied when valuing
securities in markets that are not active. The guidance provides an illustrative
example that applies the objectives and framework of SFAS 157, utilizing
management&amp;#8217;s internal cash flow and discount rate assumptions when relevant
observable data does not exist.&amp;#160;&amp;#160;It further clarifies how observable
market information and market quotes should be considered when measuring fair
value in an inactive market.&amp;#160;&amp;#160;&amp;#160;It reaffirms the notion of fair
value as an exit price as of the measurement date and that fair value analysis
is a transactional process and should not be broadly applied to a group of
assets.&amp;#160;&amp;#160;FSP 157-3 was effective upon issuance including prior periods
for which financial statements have not been issued.&amp;#160;&amp;#160;FSP 157-3 did
not&amp;#160;&amp;#160;have a material effect on the fair value of its assets as the
Company intends to continue to hold assets that can be valued via level 1 and
level 2 criteria, as defined under SFAS 157.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
 &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;On October
3, 2008 the Emergency Economic Stabilization Act of 2008 (the &amp;#8220;EESA&amp;#8221;) was signed
into law.&amp;#160;&amp;#160;Section 133 of the EESA mandated that the Securities and
Exchange Commission (the &amp;#8220;SEC&amp;#8221;) conduct a study on mark-to-market accounting
standards.&amp;#160;&amp;#160;The SEC provided its study to the US Congress on December
30, 2008.&amp;#160;&amp;#160;Part of the recommendations within the study indicated that
&amp;#8220;fair value requirements should be improved through development of application
and best practices guidance for determining fair value in illiquid or inactive
markets.&amp;#8221;&amp;#160;&amp;#160;As a result of this study and the recommendations therein,
the FASB issued Staff Position (FSP) FAS 157-4, &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Determining Fair Value When the
Volume and Level of Activity for the Asset or Liability Have Significantly
Decreased and Identifying Transactions That Are Not
Orderly&lt;/font&gt;.&amp;#160;&amp;#160;This FSP provides additional guidance on determining
fair value when the volume and level of activity for the asset or liability have
significantly decreased when compared with normal market activity for the asset
or liability (or similar assets or liabilities).&amp;#160;&amp;#160;The FSP gives
specific factors to evaluate if there has been a decrease in normal market
activity and if so, provides a methodology to analyze transactions or quoted
prices and make necessary adjustments to fair value in accordance with Statement
157.&amp;#160;&amp;#160;The objective is to determine the point within a range of fair
value estimates that is most representative of fair value under current market
conditions.&amp;#160;&amp;#160;FSP FAS157-4 is effective for interim and annual
reporting periods ending after June 15, 2009 with early adoption permitted for
periods ending after March 15, 2009 and the Company decided to early adopt FSP
FAS 157-4.&amp;#160;&amp;#160;The implementation of FSP FAS157-4 did not have
a&amp;#160;&amp;#160;major impact on the manner in which the Company estimates fair
value, nor does it have any impact on our financial statement
disclosure.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;Additionally,
in conjunction with FSP 157-4, the FASB issued FAS 115-2 and FAS 124-2, &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Recognition and Presentation of
Other Than Temporary Impairments&lt;/font&gt;.&amp;#160;&amp;#160;The objective of the new
guidance is to make impairment guidance more operational and to improve the
presentation and disclosure of other-than-temporary impairments (&amp;#8220;OTTI&amp;#8221;) on debt
and equity securities in financial statements.&amp;#160;&amp;#160;This guidance was also
the result of the SEC mark-to-market study mandated under the
EESA.&amp;#160;&amp;#160;The SEC&amp;#8217;s recommendation was to &amp;#8220;evaluate the need for
modifications (or the elimination) of current OTTI guidance to provide for a
more uniform system of impairment testing standards for financial
instruments&amp;#8221;.&amp;#160;&amp;#160;The guidance revises the OTTI evaluation
methodology.&amp;#160;&amp;#160;Previously the analytical focus was on whether the
company had the &amp;#8220;intent and ability to retain its investment in the debt
security for a period of time sufficient to allow for any anticipated recovery
in fair value&amp;#8221;.&amp;#160;&amp;#160;&amp;#160;Now the focus is on whether the Company has the
(1) the intent to sell the Investment Securities, (2) it is more likely than not
that it will be required to sell the Investment Securities before recovery, or
(3) it does not expect to recover the entire amortized cost basis of the
Investment Securities.&amp;#160;&amp;#160;&amp;#160;&amp;#160;Further, the security is analyzed
for credit loss, (the difference between the present value of cash flows
expected to be collected and the amortized cost basis).&amp;#160;&amp;#160;The credit
loss, if any, will then be recognized in the statement of earnings, while the
balance of impairment related to other factors will be recognized in
OCI.&amp;#160;&amp;#160;FAS 115-2 and FAS 124-2 are effective for all interim and annual
periods ending after June 15, 2009 with early adoption permitted for periods
ending after March 15, 2009 and the Company decided to early adopt FSP FAS 115-2
and FSP FAS 124-2.&amp;#160;&amp;#160;For the quarter ended June 30, 2009, the Company
did not have unrealized losses in Investment Securities that were deemed
other-than-temporary.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;On April
9, 2009, the FASB also issued FAS 107-1 and APB 28-1, &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Interim Disclosures about Fair Value
of Financial Instruments&lt;/font&gt;. The guidance requires disclosures about fair
value of financial instruments for interim reporting periods as well as in
annual financial statements.&amp;#160;&amp;#160;The effective date of this rule guidance
is for interim reporting periods ending after June 15, 2009 with early adoption
permitted for periods ending after March 15, 2009.&amp;#160;&amp;#160;The adoption of
FAS 107-1 and APB 28-1 did not have any impact on financial reporting as all
financial instruments are currently reported at fair value in both interim and
annual periods.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;In May
2009, the FASB issued SFAS No. 165, &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Subsequent Events&lt;/font&gt; ("SFAS
165").&amp;#160; SFAS 165 establishes general standards governing accounting for and
disclosure of events that occur after the balance sheet date but before the
financial statements are issued or are available to be issued.&amp;#160; SFAS 165
also provides guidance on the period after the balance sheet date during which
management of a reporting entity should evaluate events or transactions that may
occur for potential recognition or disclosure in the financial statements, the
circumstances under which an entity should recognize events or transactions
occurring after the balance sheet date in its financial statements and the
disclosures that an entity should make about events or transactions occurring
after the balance sheet date. The Company adopted SFAS 165 effective June 30,
2009, and adoption had no impact on the Company&amp;#8217;s consolidated financial
statements. The Company evaluated subsequent events through the filing date of
this Quarterly Report on Form 10-Q.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
   &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;On June
12, 2009, the FASB issued FAS No. 166, &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Accounting for Transfer of Financial
Assets &amp;#8211; an Amendment of FASB Statement No. 140 &lt;/font&gt;(&amp;#8220;SFAS 166&amp;#8221;), which
amends the derecognition guidance in FAS No. 140.&amp;#160;&amp;#160;FAS No. 166
eliminates the concept of a qualified special purpose entity (&amp;#8220;QSPE&amp;#8221;) and
eliminates the exception from applying FIN 46(R), &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Consolidation of Variable Interest
Entities&lt;/font&gt; to QSPEs.&amp;#160; Additionally, this Statement clarifies that the
objective of paragraph 9 of FAS 140 is to determine whether&amp;#160;&amp;#160;a
transferor has surrendered control over transferred financial assets. &amp;#160;
That determination must consider the transferor&amp;#8217;s continuing involvements in the
transferred financial &lt;/font&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;asset,
including all arrangements or agreements made contemporaneously with, or in
contemplation of, the transfer, even if they were not entered into at the time
of the transfer.&amp;#160;&amp;#160;&amp;#160;FAS No. 166 modifies the financial-components
approach used in Statement FAS No. 140 and limits the circumstances in which a
financial asset, or portion of a financial asset, should be derecognized when
the transferor has not transferred the entire original financial asset to an
entity that is not consolidated with the transferor in the financial statements
being presented and/or when the transferor has continuing involvement with the
transferred financial asset.&amp;#160;&amp;#160;It defines the term "participating
interest" to establish specific conditions for reporting a transfer of a portion
of a financial asset as a sale.&amp;#160;&amp;#160;Under this statement, when the
transfer of financial assets are accounted for as a sale, the transferor must
recognize and initially measure at fair value all assets obtained and
liabilities incurred as a result of the transfer.&amp;#160;&amp;#160;This includes any
retained beneficial interest.&amp;#160;&amp;#160;The implementation of this standard
materially effects the securitization process in general, as it eliminates
off-balance sheet transactions when an entity retains any interest in or control
over&amp;#160;&amp;#160;assets transferred in this process.&amp;#160;&amp;#160;However, we do
not believe the implementation of this standard will materially affect our
company as we have no off -balance sheet transactions, no QSPEs, nor have we
transferred assets via securitization.&amp;#160;&amp;#160;The effective date for FAS 166
is January 1, 2010.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;In
conjunction with SFAS No. 166, FASB issued FAS 167, &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Amendment to FASB Interpretation No
46(R) (&amp;#8220;SFAS 167&amp;#8221;).&lt;/font&gt;&amp;#160;&amp;#160;This statement requires an enterprise to
perform an analysis to determine whether the enterprise's variable interest or
interests give it a controlling financial interest in a variable interest entity
("VIE").&amp;#160;&amp;#160;The analysis identifies the primary beneficiary of a
variable interest entity (VIE) as the enterprise that has both: a) the power to
direct the activities that most significantly impact the entity's economic
performance and b) the obligation to absorb losses of the entity or the right to
receive benefits from the entity which could potentially be significant to the
VIE.&amp;#160;&amp;#160;&amp;#160;With the removal of the QSPE exemption, established QSPEs
must be evaluated for consolidation under this statement.&amp;#160;&amp;#160;This
statement requires enhanced disclosures to provide users of financial statements
with more transparent information about and an enterprise's involvement in a
VIE.&amp;#160;&amp;#160;Further, this statement also requires ongoing assessments of
whether an enterprise is the primary beneficiary of a VIE.&amp;#160;&amp;#160;The
Company is not, currently, the primary beneficiary of any VIEs.&amp;#160;&amp;#160;The
effective date for FAS 167 is January 1, 2010.&amp;#160;&amp;#160;Upon implementation
and, as required by the standard, on an ongoing basis, the Company will assess
the applicability of this standard to its holdings and report
accordingly.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;In June
2009, the FASB issued FAS No. 168, &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;The FASB Accounting Standards
Codification and the Hierarchy of Generally Accepted Accounting
Principles&lt;/font&gt;.&amp;#160;&amp;#160;A replacement of FASB Statement No. 162 (&amp;#8220;SFAS
168&amp;#8221;).&amp;#160;&amp;#160;This Statement identifies the sources of accounting principles
and the framework for selecting the principles used in the preparation of
financial statements of nongovernmental entities that are presented in
conformity with GAAP in the United States (the GAAP hierarchy).&amp;#160;&amp;#160;The
objective of this Statement SFAS 168 is to establish the FASB Accounting
Standards Codification (the "Codification") as the source of authoritative
accounting principles recognized by the FASB.&amp;#160;&amp;#160;After the effective
date of this Statement, SFAS 168, all non-grandfathered, non-SEC accounting
literature not included in the Codification is superseded and deemed
non-authoritative.&amp;#160;&amp;#160;SFAS 168 revises the framework for selecting the
accounting principles to be used in the preparation of financial statements that
are presented in conformity with GAAP.&amp;#160;&amp;#160;In doing so, the Codification
will require the references within the Company's financial statement to be
modified.&amp;#160;&amp;#160;Additionally, although it is not the FASB's intent to alter
any guidance, certain modifications in verbiage may, indeed, require the Company
to evaluate whether such modification would need to be accounted for as an
"accounting change" or as a "correction of an error" in accordance with FAS No.
154, &lt;font style="DISPLAY: inline; FONT-STYLE: italic"&gt;Accounting Changes and
Error Corrections-a replacement of APB Opinion No. 20 and FASB Statement No.
3&lt;/font&gt;.&amp;#160;&amp;#160;The codification was implemented on July 1, 2009 and will
be effective for interim and annual periods ending after September 15,
2009.&amp;#160;&amp;#160;The Company expects to conform our financial statements and
related Notes to the new Codification for the quarter ended September 30,
2009.&lt;/font&gt;&lt;/div&gt;
&lt;/body&gt;
&lt;/html&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
  <us-gaap:FairValueDisclosuresTextBlock contextRef="Cur_6mos_20090630">&lt;html&gt;
    &lt;body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;7.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;FAIR
VALUE MEASUREMENTS&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 36pt"&gt;&lt;/font&gt;SFAS 157 defines fair value,
establishes a framework for measuring fair value, establishes a three-level
valuation hierarchy for disclosure of fair value measurement and enhances
disclosure requirements for fair value measurements.&amp;#160;&amp;#160;The valuation
hierarchy is based upon the transparency of inputs to the valuation of an asset
or liability as of the measurement date.&amp;#160;&amp;#160;The three levels are defined
as follow:&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;Level 1&amp;#8211;
inputs to the valuation methodology are quoted prices (unadjusted) for identical
assets and liabilities in active markets.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;Level 2 &amp;#8211;
inputs to the valuation methodology include quoted prices for similar assets and
liabilities in active markets, and inputs that are observable for the asset or
liability, either directly or indirectly, for substantially the full term of the
financial instrument.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;Level 3 &amp;#8211;
inputs to the valuation methodology are unobservable and significant to overall
fair value.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;Available
for sale equity securities are valued based on quoted prices (unadjusted) in an
active market.&amp;#160;&amp;#160;Mortgage-Backed Securities and interest rate swaps are
valued using quoted prices for similar assets and dealer quotes.&amp;#160;&amp;#160;The
dealer will incorporate common market pricing methods, including a spread
measurement to the Treasury curve or interest rate swap curve as well as
underlying characteristics of the particular security including coupon, periodic
and life caps, rate reset period and expected life of the
security.&amp;#160;&amp;#160;Management reviews all prices used to ensure that current
market conditions are represented.&amp;#160;&amp;#160;This review includes comparisons
of similar market transactions and comparisons to a pricing
model.&amp;#160;&amp;#160;The Company&amp;#8217;s financial assets and liabilities carried at fair
value on a recurring basis are valued as follows:&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;
      &lt;div&gt;
        &lt;div align="left"&gt;
          &lt;div align="center"&gt;
            &lt;div align="center"&gt;
              &lt;div align="center"&gt;
                &lt;table cellpadding="0" cellspacing="0" width="100%"&gt;
                    &lt;tr&gt;
                      &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
                      &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td colspan="2" valign="bottom"&gt;
                        &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Level
      1&lt;/font&gt;&lt;/div&gt;
                      &lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td colspan="2" valign="bottom"&gt;
                        &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Level
      2&lt;/font&gt;&lt;/div&gt;
                      &lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td colspan="2" valign="bottom"&gt;
                        &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Level
      3&lt;/font&gt;&lt;/div&gt;
                      &lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                    &lt;/tr&gt;
                    &lt;tr&gt;
                      &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
                      &lt;td valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td colspan="10" valign="bottom" style="BORDER-BOTTOM: black 2px solid"&gt;
                        &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(dollars
      in thousands)&lt;/font&gt;&lt;/div&gt;
                      &lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                    &lt;/tr&gt;
                    &lt;tr&gt;
                      &lt;td align="left" valign="bottom"&gt;
                        &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Assets:&lt;/font&gt;&lt;/div&gt;
                      &lt;/td&gt;
                      &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td colspan="2" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td colspan="2" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td colspan="2" valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                    &lt;/tr&gt;
                    &lt;tr bgcolor="#cceeff"&gt;
                      &lt;td align="left" valign="bottom" width="64%"&gt;
                        &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&amp;#160;Mortgage-Backed
      Securities&lt;/font&gt;&lt;/div&gt;
                      &lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;-&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;65,165,126&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;-&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                    &lt;/tr&gt;
                    &lt;tr bgcolor="white"&gt;
                      &lt;td align="left" valign="bottom" width="64%"&gt;
                        &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&amp;#160;Agency
      debentures&lt;/font&gt;&lt;/div&gt;
                      &lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;-&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;616,893&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;-&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                    &lt;/tr&gt;
                    &lt;tr bgcolor="#cceeff"&gt;
                      &lt;td align="left" valign="bottom" width="64%"&gt;
                        &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&amp;#160;Available
      for sale equity securities&lt;/font&gt;&lt;/div&gt;
                      &lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;156,990&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;-&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;-&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                    &lt;/tr&gt;
                    &lt;tr bgcolor="white"&gt;
                      &lt;td align="left" valign="bottom" width="64%"&gt;
                        &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&amp;#160;Interest&amp;#160;&amp;#160;rate
      swaps&lt;/font&gt;&lt;/div&gt;
                      &lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;-&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;7,267&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;-&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                    &lt;/tr&gt;
                    &lt;tr bgcolor="#cceeff"&gt;
                      &lt;td valign="bottom" width="64%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/td&gt;
                      &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                    &lt;/tr&gt;
                    &lt;tr bgcolor="white"&gt;
                      &lt;td align="left" valign="bottom" width="64%"&gt;
                        &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Liabilities:&lt;/font&gt;&lt;/div&gt;
                      &lt;/td&gt;
                      &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                    &lt;/tr&gt;
                    &lt;tr bgcolor="#cceeff"&gt;
                      &lt;td align="left" valign="bottom" width="64%"&gt;
                        &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;
      Interest rate swaps&lt;/font&gt;&lt;/div&gt;
                      &lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;-&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;722,700&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                      &lt;td align="right" valign="bottom" width="9%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;-&lt;/font&gt;
    &lt;/td&gt;
                      &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                    &lt;/tr&gt;
                &lt;/table&gt;
              &lt;/div&gt;
            &lt;/div&gt;
          &lt;/div&gt;
        &lt;/div&gt;
      &lt;/div&gt;
    &lt;/div&gt;
    &lt;div&gt;&amp;#160;&lt;/div&gt;
    &lt;div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 23.75pt"&gt;&lt;/font&gt;The classification of assets and
liabilities by level remains unchanged at June 30, 2009, when compared to the
previous quarter.&lt;/font&gt;&lt;/div&gt;
&lt;/body&gt;
&lt;/html&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <us-gaap:RepurchaseAgreementsResaleAgreementsSecuritiesBorrowedAndSecuritiesLoanedDisclosureTextBlock contextRef="Cur_6mos_20090630">&lt;html&gt;
    &lt;body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;8.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;REPURCHASE
AGREEMENTS&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;The
Company had outstanding $51.3 billion and $46.7 billion of repurchase agreements
with weighted average borrowing rates of 2.54% and 4.08%, after giving effect to
the Company&amp;#8217;s interest rate swaps, and weighted average remaining maturities of
196 days and 238 days as of June 30, 2009 and December 31, 2008,
respectively.&amp;#160;&amp;#160;Investment Securities pledged as collateral under these
repurchase agreements and interest rate swaps had an estimated fair value of
$55.8 billion at June 30, 2009 and $51.8 billion at December 31,
2008.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 36pt"&gt;&lt;/font&gt;At June 30, 2009 and December 31, 2008,
the repurchase agreements had the following remaining maturities:&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
      &lt;div&gt;
        &lt;div align="center"&gt;
          &lt;div align="center"&gt;
            &lt;div align="center"&gt;
              &lt;div align="center"&gt;
                &lt;div align="center"&gt;
                  &lt;div align="left"&gt;
                    &lt;div align="center"&gt;
                      &lt;div align="center"&gt;
                        &lt;div align="left"&gt;
                          &lt;div align="left"&gt;
                            &lt;table cellpadding="0" cellspacing="0" width="90%"&gt;
                                &lt;tr&gt;
                                  &lt;td align="left" valign="bottom" width="66%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" colspan="2" valign="bottom" width="15%"&gt;
                                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;June
      30, 2009&lt;/font&gt;&lt;/div&gt;
                                  &lt;/td&gt;
                                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" colspan="2" valign="bottom" width="15%"&gt;
                                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;December
      31, 2008&lt;/font&gt;&lt;/div&gt;
                                  &lt;/td&gt;
                                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                &lt;/tr&gt;
                                &lt;tr&gt;
                                  &lt;td align="left" valign="bottom" width="66%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" colspan="6" valign="bottom" width="32%" style="BORDER-BOTTOM: black 2px solid"&gt;
                                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="center"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;(dollars
      in thousands)&lt;/font&gt;&lt;/div&gt;
                                  &lt;/td&gt;
                                  &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                &lt;/tr&gt;
                                &lt;tr bgcolor="#cceeff"&gt;
                                  &lt;td align="left" valign="bottom" width="66%"&gt;
                                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;1
      day&lt;/font&gt;&lt;/div&gt;
                                  &lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="14%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;3,969,859&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="14%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;-&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                &lt;/tr&gt;
                                &lt;tr bgcolor="white"&gt;
                                  &lt;td align="left" valign="bottom" width="66%"&gt;
                                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;2 to
      29 days&lt;/font&gt;&lt;/div&gt;
                                  &lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="14%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;35,087,648&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="14%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;32,025,186&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                &lt;/tr&gt;
                                &lt;tr bgcolor="#cceeff"&gt;
                                  &lt;td align="left" valign="bottom" width="66%"&gt;
                                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;30
      to 59 days&lt;/font&gt;&lt;/div&gt;
                                  &lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="14%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;4,182,992&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="14%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;5,205,352&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                &lt;/tr&gt;
                                &lt;tr bgcolor="white"&gt;
                                  &lt;td align="left" valign="bottom" width="66%"&gt;
                                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;60
      to 89 days&lt;/font&gt;&lt;/div&gt;
                                  &lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="14%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;207,272&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="14%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;209,673&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                &lt;/tr&gt;
                                &lt;tr bgcolor="#cceeff"&gt;
                                  &lt;td align="left" valign="bottom" width="66%"&gt;
                                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;90
      to 119 days&lt;/font&gt;&lt;/div&gt;
                                  &lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="14%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;712,181&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="14%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;254,674&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" nowrap valign="bottom" width="1%"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                &lt;/tr&gt;
                                &lt;tr bgcolor="white"&gt;
                                  &lt;td align="left" valign="bottom" width="66%" style="PADDING-BOTTOM: 2px"&gt;
                                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Over
      120 days&lt;/font&gt;&lt;/div&gt;
                                  &lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;7,166,978&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;8,980,000&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                &lt;/tr&gt;
                                &lt;tr bgcolor="#cceeff"&gt;
                                  &lt;td align="left" valign="bottom" width="66%" style="PADDING-BOTTOM: 4px"&gt;
                                    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -7.2pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;Total&lt;/font&gt;&lt;/div&gt;
                                  &lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="14%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;51,326,930&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;$&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="right" valign="bottom" width="14%" style="BORDER-BOTTOM: black 4px double"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;46,674,885&lt;/font&gt;&lt;/td&gt;
                                  &lt;td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
                                &lt;/tr&gt;
                            &lt;/table&gt;
                          &lt;/div&gt;
                        &lt;/div&gt;
                      &lt;/div&gt;
                    &lt;/div&gt;
                  &lt;/div&gt;
                &lt;/div&gt;
              &lt;/div&gt;
            &lt;/div&gt;
          &lt;/div&gt;
        &lt;/div&gt;
      &lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 23.75pt"&gt;&lt;/font&gt;The Company did not have an amount
at risk greater than 10% of the equity of the Company with any &lt;/font&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;counterparty
as of June 30, 2009 or December 31, 2008.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The
Company has entered into long-term repurchase agreements which provide the
counterparty with the right to call the balance prior to maturity
date.&amp;#160;&amp;#160;These repurchase agreements totaled $8.8 billion and the fair
value of the option to call was ($405.9 million) at June 30,
2009.&amp;#160;&amp;#160;These repurchase agreements totaled $8.1 billion and the fair
value of the option to call was ($574.3 million) at December 31,
2008.&amp;#160;&amp;#160;Management has determined that the call option is not required
to be bifurcated under the provisions of SFAS 133 as it is deemed clearly and
closely related to the debt instrument, therefore the fair value of the option
is not recorded in the consolidated financial statements.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
   &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;The
structured repurchase agreements are modeled and priced as pay
fixed&amp;#160;&amp;#160;versus receive floating interest rate swaps whereby the fixed
receiver has the option to cancel the swap after an initial lockout period.
Therefore the structured repurchase agreements are priced as &amp;#160;a combination
of an interest rate swaps with an embedded call options.&lt;/font&gt;&lt;/div&gt;
&lt;/body&gt;
&lt;/html&gt;</us-gaap:RepurchaseAgreementsResaleAgreementsSecuritiesBorrowedAndSecuritiesLoanedDisclosureTextBlock>
  <us-gaap:IncomeTaxDisclosureTextBlock contextRef="Cur_6mos_20090630">&lt;html&gt;
    &lt;body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;13.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;
INCOME TAXES&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 36pt"&gt;&lt;/font&gt;As a REIT, the Company is not subject
to federal income tax on earnings distributed to its shareholders. Most states
recognize REIT status as well. The Company has decided to distribute the
majority of its income and retain a portion of the permanent difference between
book and taxable income arising from Section 162(m) of the Code pertaining to
employee remuneration.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;During
the quarter and six months ended June 30, 2009, the Company&amp;#8217;s taxable REIT
subsidiaries&amp;#160;recorded $1.6 million and $2.1 million&amp;#160;of income tax
expense for income attributable to those subsidiaries, and the portion of
earnings retained based on Code Section 162(m) limitations.&amp;#160;&amp;#160;During
the quarter and six months ended June 30, 2009, the Company recorded $6.2
million and $12.1 million of income tax expense for a portion of earnings
retained based on Section 162(m) limitations.&amp;#160;&amp;#160;The effective tax rate
was 54% for the six months ended June 30, 2009.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 36pt"&gt;&lt;/font&gt;During the quarter&amp;#160;and six months
ended June 30, 2008, FIDAC, a taxable REIT subsidiary, recorded $856,000 and
$1.6 million, respectively, of income tax expense for income and for the portion
of earnings retained based on Code Section 162(m) limitations.&amp;#160;&amp;#160;During
the quarter and six months ended June 30, 2008, the Company recorded $6.7
million and $10.5 million, respectively, of income tax expense for a portion of
earnings retained based on Section 162(m) limitations.&amp;#160;&amp;#160;The effective
tax rate was 52% for the six months ended June 30, 2008.&lt;/font&gt;&lt;/div&gt;
        &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
	&lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 36pt"&gt;&lt;/font&gt;The Company&amp;#8217;s effective tax rate was
54% and 52% for the six months ended June 30, 2009 and 2008,
respectively.&amp;#160;&amp;#160;These rates differed from the federal statutory rate as
a result of state and local taxes and permanent difference pertaining to
employee remuneration as discussed above.&lt;/font&gt;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font id="TAB1" style="MARGIN-LEFT: 36pt"&gt;&lt;/font&gt;The statutory combined federal, state,
and city corporate tax rate is 45%.&amp;#160;&amp;#160;This amount is applied to the
amount of estimated REIT taxable income retained (if any, and only up to 10% of
ordinary income as all capital gain income is distributed) and to taxable income
earned at the taxable subsidiaries.&amp;#160;&amp;#160;Thus, as a REIT, the Company&amp;#8217;s
effective tax rate is significantly less as it is allowed to deduct dividend
distributions.&lt;/font&gt;&lt;/div&gt;
&lt;/body&gt;
&lt;/html&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
  <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="Cur_6mos_20090630">&lt;html&gt;
    &lt;body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;
   &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div&gt;
      &lt;table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%"&gt;
          &lt;tr valign="top"&gt;
            &lt;td style="WIDTH: 23.75pt"&gt;
              &lt;div&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/div&gt;
            &lt;/td&gt;
            &lt;td&gt;
              &lt;div align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold"&gt;10&lt;/font&gt;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold"&gt;.&lt;/font&gt;&amp;#160;&lt;font style="DISPLAY: inline; FONT-WEIGHT: bold"&gt;PREFERRED STOCK AND COMMON
      STOCK&lt;/font&gt;&lt;/font&gt;&lt;/div&gt;
            &lt;/td&gt;
          &lt;/tr&gt;
      &lt;/table&gt;
    &lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div&gt;
      &lt;table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%"&gt;
          &lt;tr valign="top"&gt;
            &lt;td style="WIDTH: 37pt"&gt;
              &lt;div&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&amp;#160;
      &lt;/font&gt;&lt;/div&gt;
            &lt;/td&gt;
            &lt;td style="WIDTH: 36pt"&gt;
              &lt;div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;(A)&lt;/font&gt;&lt;/div&gt;
            &lt;/td&gt;
            &lt;td&gt;
              &lt;div align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;Common
      Stock Issuances&lt;/font&gt;&lt;/div&gt;
            &lt;/td&gt;
          &lt;/tr&gt;
      &lt;/table&gt;
    &lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;During the
quarter and six months ended June 30, 2009, 8,375 and 64,262 options were
exercised&amp;#160;under the Long-Term Stock Incentive Plan, or Incentive Plan, for
an aggregate exercise price of $98,000 and $722,000.&amp;#160;&amp;#160;During the six
months ended June 30, 2009, 7,550 shares of restricted stock were issued under
the Incentive Plan.&amp;#160;&amp;#160;During the quarter and six months ended June 30,
2009, 2,750 and 1.4 million shares of Series B Preferred Stock were converted
into 5,837 and 2.8 million shares of common stock, respectively.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;During the
quarter and six months ended June 30, 2008, 16,600 and 187,217 options were
exercised under the Incentive Plan for an aggregate exercise price of $195,000
and $1.8 million respectively.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;On May 13,
2008 the Company entered into an underwriting agreement pursuant to which it
sold 69,000,000 shares of its common stock for net proceeds following
underwriting expenses of approximately $1.1 billion. This transaction settled on
May 19, 2008.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;On January
23, 2008 the Company entered into an underwriting agreement pursuant to which it
sold 58,650,000 shares of its common stock for net proceeds following
underwriting expenses of approximately $1.1 billion. This transaction settled on
January 29, 2008.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;During the
year ended December 31, 2008, the Company raised $93.7 million by issuing 5.8
million shares, through the Direct Purchase and Dividend Reinvestment
Program.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;During the
year ended December 31, 2008, 300,000 options were exercised under the Incentive
Plan for an aggregate exercise price of $2.8 million.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;On August
3, 2006, the Company entered into an ATM Equity Offering&lt;font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: super"&gt;(sm)&lt;/font&gt; Sales
Agreement with Merrill Lynch &amp;amp; Co. and Merrill Lynch, Pierce, Fenner &amp;amp;
Smith Incorporated, relating to the sale of shares of the Company&amp;#8217;s common stock
from time to time through Merrill Lynch. Sales of the shares, if any, are made
by means of ordinary brokers' transaction on the New York Stock Exchange. During
the quarter and six month ended June 30, 2009, the Company did not issue shares
pursuant to this program.&amp;#160;&amp;#160;During the year ended December 31, 2008,
588,000 shares of the Company&amp;#8217;s common stock were issued pursuant to this
program, totaling $11.5 million in net proceeds.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#160;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;On August
3, 2006, the Company entered into an ATM Equity Sales Agreement with UBS
Securities LLC, relating to the sale of shares of the Company&amp;#8217;s common stock
from time to time through UBS Securities. Sales of the shares, if any, will be
made by means of ordinary brokers' transaction on the New York Stock Exchange.
During the quarter and six months ended June 30, 2009, the Company did not issue
shares pursuant to this program.&amp;#160;&amp;#160;During the year ended December 31,
2008, 3.8 million shares of the Company&amp;#8217;s common stock were issued pursuant to
this program, totaling $60.3 million in net proceeds.&lt;/font&gt;&lt;/div&gt;
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Preferred Stock&lt;/font&gt;&lt;/div&gt;
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    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;At June
30, 2009 and December 31, 2008, the Company had issued and outstanding 7,412,500
shares of Series A Cumulative Redeemable Preferred Stock (&amp;#8220;Series A Preferred
Stock&amp;#8221;), with a par value $0.01 per share and a liquidation preference of $25.00
per share plus accrued and unpaid dividends (whether or not declared). The
Series A Preferred Stock must be paid a dividend at a rate of 7.875% per year on
the $25.00 liquidation preference before the common stock is entitled to receive
any dividends. The Series A Preferred Stock is redeemable at $25.00 per share
plus accrued and unpaid dividends (whether or not declared) exclusively at the
Company's option commencing on April 5, 2009 (subject to the Company's right
under limited circumstances to redeem the Series A Preferred Stock earlier in
order to preserve its qualification as a REIT). The Series A Preferred Stock is
senior to the Company's common stock and is on parity with the Series B
Preferred Stock with respect to dividends and distributions, including
distributions upon liquidation, dissolution or winding up. The Series A
Preferred Stock generally does not have any voting rights, except if the Company
fails to pay dividends on the Series A Preferred Stock for six or more quarterly
periods (whether or not consecutive). Under such circumstances, the Series A
Preferred Stock, together with the Series B Preferred Stock, will be entitled to
vote to elect two additional directors to the Board, until all unpaid dividends
have been paid or declared and set apart for payment. In addition, certain
material and adverse changes to the terms of the Series A Preferred Stock cannot
be made without the affirmative vote of holders of at least two-thirds of the
outstanding shares of Series A Preferred Stock and Series B Preferred Stock.
Through June 30, 2009, the Company had declared and paid all required quarterly
dividends on the Series A Preferred Stock.&lt;/font&gt;&lt;/div&gt;
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    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;At June
30, 2009 and December 31, 2008, the Company had issued and outstanding 2,604,814
and 3,963,525 shares, respectively, of Series B Cumulative Convertible Preferred
Stock (&amp;#8220;Series B Preferred Stock&amp;#8221;), with a par value $0.01 per share and a
liquidation preference of $25.00 per share plus accrued and unpaid dividends
(whether or not declared). The Series B Preferred Stock must be paid a dividend
at a rate of 6% per year on the $25.00 liquidation preference before the common
stock is entitled to receive any dividends.&amp;#160;&amp;#160;The Series B Preferred
Stock is not redeemable. The Series B Preferred Stock is convertible into shares
of common stock at a conversion rate that adjusts from time to time upon the
occurrence of certain events, including if the Company distributes to its common
shareholders in any calendar quarter cash dividends in excess of $0.11 per
share. Initially, the conversion rate was 1.7730 shares of common shares per $25
liquidation preference.&amp;#160;&amp;#160;&amp;#160;At June 30, 2009 and December 31, 2008,
the conversion ratio was 2.1946 and 2.0650 shares of common stock, respectively,
per $25 liquidation preference.&amp;#160;&amp;#160;Commencing April 5, 2011, the Company
has the right in certain circumstances to convert each Series B Preferred Stock
into a number of common shares based upon the then prevailing conversion rate.
The Series B Preferred Stock is also convertible into common shares at the
option of the Series B preferred shareholder at anytime at the then prevailing
conversion rate. The Series B Preferred Stock is senior to the Company's common
stock and is on parity with the Series A Preferred Stock with respect to
dividends and distributions, including distributions upon liquidation,
dissolution or winding up. The Series B Preferred Stock generally does not have
any voting rights, except if the Company fails to pay dividends on the Series B
Preferred Stock for six or more quarterly periods (whether or not consecutive).
Under such circumstances, the Series B Preferred Stock, together with the Series
A Preferred Stock, will be entitled to vote to elect two additional directors to
the Board, until all unpaid dividends have been paid or declared and set apart
for payment. In addition, certain material and adverse changes to the terms of
the Series B Preferred Stock cannot be made without the affirmative vote of
holders of at least two-thirds of the outstanding shares of Series B Preferred
Stock and Series A Preferred Stock. Through June 30, 2009, the Company had
declared and paid all required quarterly dividends on the Series B Preferred
Stock.&amp;#160;&amp;#160;During the quarter and six months ended June 30, 2009, 2,750
and 1.4 million shares of Series B Preferred Stock were converted into 5,837 and
2.8 million shares of common stock. During the year ended December 31, 2008,
636,475 shares of series B Preferred Stock were converted into 1.3 million
shares of common stock.&lt;/font&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; TEXT-INDENT: 0pt"&gt;&lt;br&gt;&lt;/div&gt;
    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;&amp;#160;(C)
Distributions to Shareholders&lt;/font&gt;&lt;/div&gt;
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    &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"&gt;
      &lt;div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"&gt;&lt;font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"&gt;During the
quarter&amp;#160;ended June 30, 2009, the Company declared dividends to common
shareholders totaling $326.6 million or $0.60 per share, which were paid to
shareholders on July 29, 2009.&amp;#160; During the six months ended June 30, 2009,
the company declared dividends to common shareholders totaling $598.8 million,
or $1.10 per share.&amp;#160; During the quarter and six months ended June 30, 2009,
the Company declared dividends to Series A Preferred shareholders totaling
approximately $3.6 million or $0.492188 per share and $7.3 million or $0.984376
per share, respectively, and Series B shareholders totaling approximately
$977,000 or $0.375 per share and $2.0 million or $0.75 per share,
respectively.&lt;/font&gt;&lt;/div&gt;
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