Focus on Efficiency
FY 3/00 FY 3/01 FY 3/02 FY 3/03 FYTD 12/03*
Total G & A Expense $55,506 $57,066 $62,127 $67,466 $78,165
Efficiency Ratio 52.34% 51.51% 48.48% 50.72% 52.48%
G & A/Avg. Assets 1.87% 1.92% 2.09% 2.22% 2.43%
(1) Excludes gain on sales of securities ($1.6 million)