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<br />• <br />FREfv1ONT NATIONAL BANK <br />STATEMEiNTS OF CHANGES [N STOCI~lfOLDER'S EQUITY <br />FOR THIi YEARS ENDED DECEIvll3ER 31, 2000 AND 1999 <br />Balance, December 31, 1998 <br />Comprehensive Income <br />Net income 1999 <br />Other comprehensive income <br />Unrealized losses on securities <br />Add: Tax benefit on unrealized losses <br />Total comprehensive income <br />Cash dividends paid of $70.00 per share <br />Balance, December 31, 1999 <br />Comprehensive income <br />Net income 2000 <br />Other comprehensive income <br />Unrealized gains on securities <br />Less: Tax expense on unrealized gains <br />Total comprehensive income <br />Cash dividends paid of $92 00 per share <br />Balance, December 3l, 2000 <br />Comprehensive Retained <br />Income Earnings <br />$ 12,141,273 <br />$ 2,019,260 2,019,260 <br />(477,382) 0 <br />162.309 0 <br />1 704 187 <br />(1,400.000) <br />$ 12,760,533 <br />$ 2,030,130 2,030,130 <br />659,213 0 <br />(224, 132} 0 <br />$ 2.465.211 <br />(1.840 000) <br />$ l2 950.663 <br />The accompanying notes are an integral part of these financial statements. <br />5 <br />