General

Algiers Bancorp, Inc. (the "Company") is a Louisiana corporation organized in February 1996 by Algiers Bank and Trust, formerly Algiers Homestead Association, ("Algiers" or the "Bank") for the purpose of becoming a unitary holding company of the Bank. The only significant assets of the Company are the capital stock of the Bank, the Company's loan to its Employee Stock Ownership Plan (the "ESOP"), and the remainder of the net proceeds retained by the Company in connection with the conversion of the Bank from mutual to stock form on July 8, 1996 (the "Conversion"). The business and management of the Company primarily consists of the business and management of the...