EXHIBIT 99.1

                FIRST AMENDMENT TO AGREEMENT AND PLAN OF MERGER
                  ____________________________________________

     The  undersigned   parties  to  the  Agreement  and  Plan  of  Merger  (the
"Agreement")  among  Jacobs  Financial  Group,   Inc.,  RS  Holdings,   LLC  and
Reclamation  Surety  Holding  Company,  Inc.,  dated February 8, 2008, do hereby
agree to amend the Agreement as follows:

     1.   Section 8.1(b) of the Agreement is amended by striking the date,  June
          30, 2008, that appears therein and replacing it with October 31, 2008.

     2.   The Deposit shall be released to the RSH  Shareholder  Representatives
          for  the  benefit  of the  RSH  Shareholders  as of the  date  of this
          Amendment pursuant to the parties execution and delivery to the Escrow
          Agent of the Joint Instructions in the form attached hereto.

     3.   In all other respects the Agreement is ratified and affirmed.

     Witness  the  signatures  of the  parties  to this First  Amendment  to the
Agreement as of the 24th day of June, 2008.


                                JACOBS FINANCIAL GROUP, INC.

                                By: /s/ John M. Jacobs
                                ____________________________
                                Name: John M. Jacobs
                                Title: President

                                RS HOLDINGS LLC.

                                By: /s/ John M. Jacobs
                                ____________________________
                                Name: John M. Jacobs
                                Title: President

                                RECLAMATION SURETY HOLDING
                                COMPANY, INC.

                                By: /s/ William S. Patterson
                                ____________________________
                                Name: William S. Patterson
                                Title: President

                                RSH SHAREHOLDER REPRESENTATIVES

                                /s/ William S. Patterson
                                ____________________________
                                Name: William S. Patterson

                                /s/ Nelson Radwan
                                ____________________________
                                Name: Nelson Radwan