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U~ . • 6565 Americas Parkway. NE-X700 Post Office Box 3939 Albuquerque, NM 87190 Independent Auditors' Report The Board of Directors First Place Financial Corporation: We have audited the accompanying consolidated balance sheets of First Place Financial Corporation and subsidiaries (the Corporation) as of December 31, 1998 and 1997, and the related consolidated statements of income, changes in stockholders' equity, and cash flows for each of the years in the three-year period ended December 31, 1998. These consolidated financial statements are the responsibility of the Corporation's management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements aze free of material misstatement. M audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of First Place Financial Corporation and subsidiaries as of December 31, 1998 and 1997, and the results of their operations and their cash flows for each of the years in the three-year period ended December 31, 1998 in conformity with generally accepted accounting principles. f`r'M~(Cs LLB Albuquerque, New Mexico January 22, 1999 53 RPMG ltP IPMG LL~a us LmiaE Weerr wnronn~a n • mlm0li O~ IPMG inlNnauOnal l Syiys a330[~]upn